Advice for a new comic book store?

[KermitsPad.net-migration]

Hello,

 

I apologize for posting this message twice, but being a newbie, I posted incorrectly in the General forum with the first message.

 

The purpose of the post is to introduce myself, and ask a small favor.

 

My name is Joe, and I'm a partner at Kermit's Pad (http://www.KermitsPad.net).

 

I'm not a comic book guy, but I'm learning quite quickly. In my previous life, I was a founder for a large online e-tailer who did over $1,000,000 a day in revenue.

 

Our goal is to make buying collectible comics online as worry-free, convenient, and reliable as purchasing items from any store at your local mall. That's why we guarantee full refunds plus shipping if you're not satisfied with any purchase you make at http://www.KermitsPad.net

 

Therefore, I would very much like as much advice, feedback, wishes, ideas, and especially criticisms as we can get. Messages like "Something I've always wanted as a feature on a comic book site is..." or "You guys are a bunch of jerks! - You messed up..."

 

I'm finding that selling collectibles is very different from normal retail.

(For example, we've already figured out that Kermit's grading needed a second pass before being shipped out! On that note, Kermit is our advisor and source for most of our comic books, but his eBay business is totally independent from Kermit's Pad.)

 

Thank you for your time, and I look forward to hearing from you all very soon.

 

Joe

joe@kermitspad.net

http://www.KermitsPad.net

Collectible comics and a $2,000 Daredevil Issue #1 Giveaway

[Ajax]

SPAM EVeRYWHWERE!

[VintageComics]

Hi Joe. Welcome (SPAMMER! ...oops...sorry about that). You are correct in that the collectible market is very different from normal retail sales. Buyers are very critical of purchases as value is found in condition (ie. grade) of items which are very delicate, as opposed to new items which are mass produced and all alike (like clothing or furniture). I suppose every group has their eccentricities . Honesty , strict/correct grading and fair prices (in that order) are probably the keys to a good comic sales business. A lot of people will even pay more than a fair market value for something that is very desirable, if the item is as depicted. After the sale is done, proper packaging and shipping is something that is prized among serious buyers as these babies get damaged very easily. Can't stress enough how many beautiful, expensive books have been damaged due to poor packaging. I'm sure there is much more to add...good luck.

[Kermit the frog]

Lowering your prices...!!!

 

try to present more interesting/affordable prices, instead of going by the price guide or up in almost every comic!!!

[Rob]

Merely having a comic in inventory isn't reason enough for someone to buy it. If I want a certain comic, I can find it on eBay or hundreds of other outlets. If I decide to buy a comic, it's because of one of three criteria: it's a better price than anyone else (including eBay), it's incredibly hard to find, or it's in very impressive condition.

 

I can find mid-grade comics for sale at guide price all day long (except for rare books). Batman #122 lists in Overstreet for $87 in Fine. Yours is F-, and costs $90. Your F- Batman #234 costs $2.60 less than Overstreet's F value. No discount for the minus.

 

Now, that's assuming your grading is accurate. Most people are not willing to assume a seller grades accurately, so they won't pay guide for a comic not graded by CGC. So not only do most mid-grade comics sell at 20% below guide (at least), but most collectors will deduct a grade just to be safe. So if you don't sell CGC graded books, you need to get by on your impeccable grading.

 

I read today that someone bought a copy of X-men #113 from you, that was listed as mint. I also read that he got a full refund, so that's excellent! But his book was VF (8.0) at best, which lists for $33. I'm not sure what he paid, but assuming he paid $55 (9.2 Overstreet value), I would be very upset to receive a book only worth $33. Grading has to be taken VERY seriously. My advice would be to undergrade, and build a reputation as delivering better than expected.

[KermitsPad.net-migration]

I think we have the packaging part down now.

 

We put backing boards over the edges of the books, pack it in an envelope and seal it, and then place the envelope inside a box stuffed with enough paper such that the envelope doesn't move when it's shook.

 

Hopefully our pre-shipment inspections and the secondary inspections by the scanners (who are becoming more and more grading savvy) will avoid most grading issues. I'm sure there will always be cases where we don't see eye-to-eye with someone on grading, and hopefully our 100% plus shipping refunds will at least not leave anyone with bad feelings.

 

Thanks for the great feedback.

 

Joe

[FFB]

Your FF#50 is about a 5.5, not a VF- 7.5 as advertised, by the way. And that assumes no damage to the back cover. Just FYI.

 

Your House of Secrets #92 looks more like a 4.0 to 4.5 than a Fine 6.0, also.

 

Your FF#55 is also quite overgraded. You say VF/NM 9.0, but it is more like a 7.0. Way too much spine stress, edge wear, and lower edge miscut for a 9.0.

[KermitsPad.net-migration]

Thank you very much for the great and detailed feedback.

I've learned the mid-grade doesn't sell rule these last couple of months.

 

I'd like to walk through how I think we're addressing some of the issues that you brought up. We of course would love to hear if you think we're on the right track.

 

You mentioned the price comparisons with Overstreet, and it's quite possible that our price may be a bit high on that book and some others.

 

A few important things to keep in mind:

- We give away reward points (Pad Pennies) equal to 5% of the item price that you can use to pay for your next purchase.

- We don't charge shipping for any order over $50, and we ship our books sealed securely in an envelope and then packed and padded inside a box, which costs us about $7.50.

- We have a "Make-an-Offer" feature where you can offer what you think is reasonable for that item.

 

 

In the case of the X-men #113, it was purchased before our second inspection by the scanner and our pre-shipment processes were in place, and we shipped him a VF- when he paid for a MT. We offered him a full refund plus shipping, a credit bringing the price down to $29 (including shipping), or a $50 credit in the store. And for the inconvenience, we also gave him $5 worth of Pad Pennies.

 

So, we are trying to follow your advice to deliver better than expected, by trying to go overboard in making it up to a customer when we dropped the ball.

 

 

 

Thank you again, and everyone please keep all the great advice and feedback coming.

[BassGMan]

Great advice all the way Rob. And grading really is the key issue. I try to grade conservatively and to the best of my ability, but in more than 50% of the cases I am in between two grades with my opinion, for example a VF/NM or a NM-? I always go with the lower grade as it is more important to err on behalf of myself than the buyer. I'm much better off having sold a book for a few dollars less than what it is worth than having sold a book at more than the buyer thinks it is worth (overgraded). Also, taking into consideration the cost and time spent with having to return a book, you are always better off having to not return anything and selling your books at a more conservative grade, than in trying to max out the grade and get a few returns. PLUS, even though you may return a book for a full refund, the buyer is STILL not happy as he wasted his time and effort to make the purchase and still may not return for more business as he may expect the same thing. I HATE to return anything. Too much of a hassle. I'm more likely to just keep the overgraded book and never return to that dealer.

 

So remember, grade conservatively and err on the undergraded side. It will do wonders for your rep and you will not have to deal with returns. -----Sid

[Rob]

I think you are on the right track, and am glad you took my comments constructively and didn't take offense. If you don't mind, I'll give some honest feedback on your comments:

 

- We give away reward points (Pad Pennies) equal to 5% of the item price that you can use to pay for your next purchase.

That's a nice marketing idea, but I'm not going to figure it into the price of the book, and pay 5% more for a future purchase. It will mean more for people who spend alot and repeat customers. Is it cumulative? So if I spend $1000 over the course of a year, I can use my Pad Pennies for a free $50 book? Any book I like?

 

- We don't charge shipping for any order over $50, and we ship our books sealed securely in an envelope and then packed and padded inside a box, which costs us about $7.50.

That's something I may take into consideration when buying. Will make it easier to pay near guide prices for $50+ books. I hope the $7.50 isn't the cost for packaging. I sandwich my books between 2 pieces of sturdy cardboard (10¢) and ship in a 9"x14" padded envelope (50¢). If I need to mail more than 3 comics, I use a cardboard comic mailer ($1.40). I get great feedback on my packaging.

 

- We have a "Make-an-Offer" feature where you can offer what you think is reasonable for that item.

Great feature. Promote that as much as the Pad Pennies, and you will get customers.

[FFB]

A couple more thoughts:

 

1) Use Overstreet's grading conventions. There is no such grade as "Mint Minus" or "Very Fine/Near Mint Minus."

 

2) Your FF#61 is not "Mint Minus." It is closer to VF 8.0 because of the spine stress and 1/4 inch bent/light crease in the upper right corner that probably penetrates into the interior pages and the edge wear along the middle of the right side.

[ComicSupply]

Mint minus

[PovertyRow]

Well this may be a thread-stopper 'cause it is POV being all serious...but this is what I have to say to you.

 

Know as much or more than your customer base. And I tell you, with comic books, that is, to quote Buffy, "a job of work.". The dealer's I have always stuck with have a vast knowledge of comic books. They understand the basics and the esoterics. I have learned from them and have debated with them but regardless of how the debates go, I come way with respect for them because their opinons and percpetions which differ form mine are based on real knowledge.

 

Now I have seen people saying to learn how to grade but, just using this as a simple example, you have to know how many pages should be in the book and verify the page count. You have to distinguish a GA Canadian reprint from the original and know how to value it. You should be able to identify at least the more common forms of restoration (because even with a generous return offer, failure to spot basics like color touch or tear seals can get you a bad rep).

 

So what I am saying is if you really want to make buying collectible comics online as worry-free, convenient, and reliable as purchasing items from any store at your local mall. then you have to really jack up your knowledge and experience and basically, become as conversant with comics as any of the more conversant posters (which is most) on these boards.

 

Thing is, Kerm, in the realm of comic book collectors, the real collectors are gonna expect much from you...more than you may have experienced in other areas of internet retail.

 

And hello!

[FFB]

Baby steps, Pov. Baby steps. He's not much of a pre-code seller anyway.

[PovertyRow]

Baby steps, Pov. Baby steps. He's not much of a pre-code seller anyway.

 

Move to strike! Leading the witness. Defendant's statement that Our goal is to make buying collectible comics online as worry-free, convenient, and reliable as purchasing items from any store at your local mall. makes no mention of age or genre. Thedy indicate an overall desire for quality assurance in the "collectible comics" market. I submit that precode is well within the definition of the "collectible comics" market as well as other genres of GA as well as Sa and BA comics.

 

yahy yah - typo edits

[PovertyRow]

And by the way - I DO like the design of your web site!

[ComicSupply]

Like the layout.

 

You are really going to have to work on grading. The first book I looked at was the Captain America #100. A piece of tape on that book makes it WAY lower than a VF.

 

 

Cap 100

 

I personally think that you have a good selection, but horrible grading.

[Rob]

Like the layout.

 

You are really going to have to work on grading. The first book I looked at was the Captain America #100. A piece of tape on that book makes it WAY lower than a VF.

 

 

Cap 100

 

I personally think that you have a good selection, but horrible grading.

 

I agree. It's going to hurt, and denial may surface, as lowering your grades lowers your asset dollars. But it's necessary, as the inflated grades are unrealistic.

[Silver Surfer]

Neat website bt lie many have said before, keep the grading accurate. If its accurate and prices are reasonable people will come back and pay attention.

[ComicSupply]

But then again, it poses another problem. What if that VF is his "Accurate"