Are LCSs the new enemy or have they always been?

[Prince Namor]

IMHO, store owners should know their business.

 

If I had a store no one would need to tell me what books were hot and what weren't. It's part of running a comic shop.

 

Its not that easy man. If you own a store you have a million things to worry about from ordering books to fixing the light fixtures. I can't imagine a store owner can spend a lot of time looking over completed e-bay sales or hanging out on the boards gathering info. That being said I don't think the LCS owner can't expect others to impart free knowledge about which book is hot. If they get some free info that great but you can't hold a grudge when they don't get it.

Dude, I've averaged listing nearly 200 auctions a week for the entire year. I do all that myself plus run my household AND take care of a 2-year-old. Running a store would be a breeze.

 

uhh....congratulations

Thanks, but that wasn't the point of what I said. My point was that if I can keep up with what's going on then any LCS owner should be able to. You don't see GAtor or Dale Roberts getting caught on the short end of pricing on books.

 

Honestly it happens sometimes, and that's okay with me. I sold a NM+ raw Batman Adventures #12 this past weekend at C2e2 for $675.00 not realizing the book had gone up to $950.00 in that grade. You know, great for the guy who bought it. He will be back to buy more. I don't mind leaving some money on the table. That's basically what I do in my holiday thread every year. I also sold a 9.8 Star Wars #1 for $1600.00, not realizing that book had recently sold for $2200.00.

 

Its pretty much impossible to stay on top of everything as volatile as the market is right now. But that's fine. There are lots of people looking for deals and I don't mind providing a few of those, as long as I am making money on the books.

Its different with a b&m store though i would think. If you have a lcs that deals with more than just comics, it would be difficult to keep up with the market on some books. A shop owner here does new books, back issues, raw keys and slabs, statues and action figures, magic cards, sports cards, yu-gi-oh and Pokemon cards, etc. i checked his .25 boxes once and saw hot ebay books he didnt know about. It doesnt always happen to him but it does happen sometimes. I figure if gator or mrbedrock would weigh in on it we would have a better understanding.

There really is nothing to understand. There is no Handbook on Running a Good Comic Book Store. There is also no way to keep up with every hot trend in new issues or recent back issues. It is on us to know what is hot. We listen to our customers, but I certainly don't think they are obligated to tell us anything. I pay the rent so I am supposed to know my business. After 25 years I have realized one very important thing though - despite the fact that I carry a large inventory of collectible back issues my primary focus, the thing that is most important to the success and longevity of Bedrock City, is that I strive to make readers happy. So sometimes we do place limits on certain hot new books. We do it simply so that we can accommodate as many readers as possible.

 

One thing that hasn't been mentioned in this thread at all is the fact that sometimes things occur that create what I call artificial shortages. Generally we order around two months prior to release. We then can adjust those initial orders up or down at a final order cut-off (FOC) date three weeks before shipping. Bedrock City heavily utilizes that FOC. The ability to react to breaking news, variations in customer demand, or promotional opportunities is a blessing that retailers twenty years ago didn't have. It has certainly minimized the occurrences of newsstand shortages among proactive retailers. But from time to time something happens after the FOC that vastly increases demand for an individual issue among the general population. It is in those instances where a retailer has significant decisions to make. Obviously the first priority is to make sure that your regular customer base is taken care of. But there is also the secondary priority of accommodating all of those new customers who could also potentially become regulars. We only have one chance to make a good first impression. And not having a copy of whatever book it is that someone is looking for can be a terrible first impression. So a balance has to be struck, and here's how we do it...

1) Fill subscriptions

2) Gauge our available newsstand copies against our projected sales through the first Sunday following new comic day.

3) Call in for availability of reorders through our distributors

-if available order what we need (we can rush delivery for that Friday or we can guarantee delivery for the following Wednesday).

-if not available then appropriately factor that into whatever limits we decide on.

4) Set a limit. It can vary from one to five copies depending on the inventory available. We have had instances where we have had a different limit in each of our five stores (or where only one or two stores have had to impose a limit) until we are able to stock level between the stores.

5) After that first weekend we generally lift the limits and sell through, but even that is fluid and can vary from situation to situation.

 

I guess the thing is, as a retailer, nothing can be set in stone and we should never be so rigid that we exacerbate a given problem. Frankly, if we have a limit in place and one of you came in and threw a big enough fit I would probably give in. I'd be seriously embarrassed for you, but I would try my very best to make you happy. And if a few extra copies of whatever book is hot today will make you happy then I will do whatever is in my power to make that happen. And I would hope that most other comic shops would do the same. We aren't the enemy.

 

+1

[1Cool]

The word "enemy" is definitely overkill in terms of how anyone should feel about LCS owners but I picked the wording to hopefully push the discussion. I think it worked since I've really enjoyed reading all the responses.

[ttfitz]

I hit up a new shop in Columbus and the owner was a cool guy to talk to (not many books to buy but they can't all be winners). He was saying he takes offense when his long time customers come in and secretly buy up all of the new hot books without telling him about it. In his words they come in all sneaky and act like they are getting away with something. He said he still would sell the books at the price marked but if the customer tells him about it he can go in the back room and pull out more copies. He didn't really expect much info from guys like me who are in once and done but he feels his loyal long time customers should be a little more free with the info.

 

Do you feel long time buyers should help out the store owners or is it a dog eat dog world. I feel like it has to go both ways. If a store owner has been upfront in selling hot new books (like variants) then the buyer should give back a bit with some free info. If the store owner has jacked up the price of all new books and bought books for pennies on the dollar for years then all's fair in love and war.

 

Having read through this thread to this point, something occurred to me that perhaps hasn't occurred to the shop owner you mentioned - his customers are probably afraid that if they tell him about what they know, he will want to jack up the prices on the books the customers have in-hand. We certainly hear plenty about that kind of behavior, so I can certainly imagine his customers have encountered the same sort of thing.

[Chip Cataldo]

Great great information in this thread. Thanks to all the big guns who decided to share.

[Bookery]

The word "enemy" is definitely overkill in terms of how anyone should feel about LCS owners but I picked the wording to hopefully push the discussion. I think it worked since I've really enjoyed reading all the responses.

 

Whew! That's a relief! It's hard to maneuver in all of this gear and I just accidentally ripped the covers off two silver-age books I was processing...

 

 

[FineCollector]

Comic flippers ONLY buy the hot, underpriced books.

 

Actually, I literally do exactly what you said NO ONE DOES.

 

...

 

I walk into a store when I think there will be multiple hot comics), grab the hotness of the rack (multiple copies, never more than 5, but that's just me), then dig into the bins for underpriced back issues (usually with a list) that recently became hot, then I see how much money I expect to make, and often times (although not always) I will buy a wall book or some random new issues with my anticipated earnings.

 

...

 

I ave no problems going to those places too on occasion for the back issues, just happen to go there less.

 

Assuming that there is just one kind of 'regular' or 'flipper' is a HUGE mistake that most stores can't afford to make.

 

So... if there's nothing to flip, or horribly underpriced, you don't buy anything. Sounds like every other dirty flipper out there, but thanks for chiming in, champ!

[kav]

Best strategy is tell him about the hot book after you cleaned off the shelf and put the books in your car. Then offer to sell them back but money first.

[darkstar]

Comic flippers ONLY buy the hot, underpriced books.

 

Actually, I literally do exactly what you said NO ONE DOES.

 

...

 

I walk into a store when I think there will be multiple hot comics), grab the hotness of the rack (multiple copies, never more than 5, but that's just me), then dig into the bins for underpriced back issues (usually with a list) that recently became hot, then I see how much money I expect to make, and often times (although not always) I will buy a wall book or some random new issues with my anticipated earnings.

 

...

 

I ave no problems going to those places too on occasion for the back issues, just happen to go there less.

 

Assuming that there is just one kind of 'regular' or 'flipper' is a HUGE mistake that most stores can't afford to make.

 

So... if there's nothing to flip, or horribly underpriced, you don't buy anything. Sounds like every other dirty flipper out there, but thanks for chiming in, champ!

 

If your store has a decent amount of back issues there is a very good chance you have some under-priced books. If your store doesn't have any back issues your store isn't worth going to anyway.

[kav]

Every single retailer is 'flipping'. There's no other way to stay in business. When did it become such a horrible awful thing?

[Hulksdaddy1]

IMHO, store owners should know their business.

 

If I had a store no one would need to tell me what books were hot and what weren't. It's part of running a comic shop.

 

Its not that easy man. If you own a store you have a million things to worry about from ordering books to fixing the light fixtures. I can't imagine a store owner can spend a lot of time looking over completed e-bay sales or hanging out on the boards gathering info. That being said I don't think the LCS owner can't expect others to impart free knowledge about which book is hot. If they get some free info that great but you can't hold a grudge when they don't get it.

Dude, I've averaged listing nearly 200 auctions a week for the entire year. I do all that myself plus run my household AND take care of a 2-year-old. Running a store would be a breeze.

 

 

 

I'll be nice, and leave it at that.

[kav]

I don't see LCS owners running around frantically busting their all day long-mostly they sit there on the internet or chit chatting. I think it would be a breeze compared to Chip's routine.

[Hulksdaddy1]

8 pages later and I still don't get the title. Why are LCSs the "enemy"?

 

Because when something becomes 'hot' they won't sell every copy of it to someone for cover price.

 

This particular shop owner saw the buyers creeping around trying to grab all the hot under priced books as the enemy. I was curious if people saw it as a battle between the shop owners and the hot books flipper. One side trying to squeeze every cent out of a book and the other hunting to find the hidden gem in the rough. I kind of see both sides being able to prosper but the owner got really irritated by the flippers.

 

If the owner sees people who spend lots of time and cash in their store as the enemy, he/she might be in the wrong line of work.

 

This has been covered numerous times before on the board and since no other retailers are chirping in, I'll repeat it.

 

The flipper/casual customer takes books away from the regular weekly subscription buyers. It's the $20 once a month guy verses multiple $20 a week customer(s).

 

By running the fly by night customer out of there - what is it you're really losing? The books are hot anyway - they'll sell. Why not make sure MORE people get a copy of a hot book? That increases your customer base.

 

By NOT having those books for more customers, you give your regular customers an excuse to go look for it at another shop. The flipper is going to be looking at other stores anyway, he's not loyal to anyone but himself.

 

You want to buy multiple copies of a book - then ORDER it.

 

Uncommon common sense. Well stated.

[Hulksdaddy1]

I don't see LCS owners running around frantically busting their all day long-mostly they sit there on the internet or chit chatting. I think it would be a breeze compared to Chip's routine.

 

 

Too many responses available, have to let it slide....

[kav]

Everyone thinks their job is the most difficult of all

Have you ever had a job that literally makes you weep? That's a tough job.

[1Cool]

Comic flippers ONLY buy the hot, underpriced books.

 

Actually, I literally do exactly what you said NO ONE DOES.

 

...

 

I walk into a store when I think there will be multiple hot comics), grab the hotness of the rack (multiple copies, never more than 5, but that's just me), then dig into the bins for underpriced back issues (usually with a list) that recently became hot, then I see how much money I expect to make, and often times (although not always) I will buy a wall book or some random new issues with my anticipated earnings.

 

...

 

I ave no problems going to those places too on occasion for the back issues, just happen to go there less.

 

Assuming that there is just one kind of 'regular' or 'flipper' is a HUGE mistake that most stores can't afford to make.

 

So... if there's nothing to flip, or horribly underpriced, you don't buy anything. Sounds like every other dirty flipper out there, but thanks for chiming in, champ!

 

You sound a lot like that store owner in Columbus. You do realize store owners flip books every day, right? Any flipper would buy a whole collection of books for 10 cents a book like store owners instead of grabbing select books but those collections don't walk in the door for average people. Would you say flippers are the enemy?

[ComicConnoisseur]

IMHO, store owners should know their business.

 

If I had a store no one would need to tell me what books were hot and what weren't. It's part of running a comic shop.

 

Its not that easy man. If you own a store you have a million things to worry about from ordering books to fixing the light fixtures. I can't imagine a store owner can spend a lot of time looking over completed e-bay sales or hanging out on the boards gathering info. That being said I don't think the LCS owner can't expect others to impart free knowledge about which book is hot. If they get some free info that great but you can't hold a grudge when they don't get it.

 

This pretty much nails it. I think a lot of older store owners have been taken aback by all of these sudden and massive price swings on hot and speculator books. They've never experienced anything like it before. But I agree.... I know things still get by me, and that's just life. My bigger concern is that I might be unaware of a hot book in a collection I'm buying, and accidentally underpay for those books.

 

I can tell you it's a full-time job on top of a full-time job to keep up on it. Most people on this thread are probably only concerned with hot silver and bronze through modern books. But the golden-age is also in huge flux. There are books going for 10x guide, and many others, including big GA keys... going for half guide. I've been forced to spend every evening for the past 5 months putting my own pricing guide together... 600-pages long covering real world pricing on everything that meets the "collectible" criteria. It's just for me... not for publication... but I've never had to do this before.... and now I believe it to be essential. But most dealers are not going to be in a position to do this.

Flipping is good for the hobby in that it creates interests which creates cash flow.

Flipping is a sign that a hobby is relevant. There are about a 100 dead or dying hobbies that wish they had the level of flipping that goes on like comic books do.

My advice for everyone is embrace the flipping!

 

 

[Bookery]

Flipping is good for the hobby in that it creates interests which creates cash flow. Flipping is a sign that a hobby is relevant. There are about a 100 dead or dying hobbies that wish they had the level of flipping that goes on like comic books do.

My advice for everyone is embrace the flipping!

 

Like I've said, I pretty much agree. Our business model caters to flippers in many ways. If you get a $50 book out of my dollar bins.... and some do... I don't care. You can even tell me about it to my face and I'll be happy for you (and happy for me.... because you'll keep coming back week after week after that). I even intentionally send books I know are worth $10, even $20 to the bulk bins because it's good for business for someone to unearth these periodically.

 

The only flippers I would have any problem with are the ones that complain about not being able to buy multiples of that week's hot book if I limit 1-per customer. But those are complaints I'm mostly reading about here.... we haven't had any in-store complaints about this in a long time. Of course, we don't get carried away about it either.... there are maybe 2 or 3 times a year where a book becomes hot late enough we can't plan for it, so it's an infrequent occurrence. And I don't understand stores limiting copies over long periods.... after the first weekend, all bets are off... you can buy as many copies as you want (though if it's truly a hot book, even at 1 per customer, the odds of it making it past Wednesday are pretty small).

 

It goes both ways. Flippers can't complain if a store owner can't choose to cater to them over and above their long-time regulars. But stores are also wrong to complain about folks getting deals out of their boxes. Once I price a book, it's priced. No regrets. Readers and collectors aren't out there in the numbers they once were (at least in our area). I would guess that nearly 1/2 of my vintage comics buyers are full-time dealers or part-time flippers. I'd be in sorry shape without them.

 

[Bookery]

Everyone thinks their job is the most difficult of all

Have you ever had a job that literally makes you weep? That's a tough job.

 

The only times I weep at work are when I read these boards. Sometimes I weep in sorrow, sometimes in fits of laughter. But I weep. Oh yes... I weep nonetheless.

 

 

[Hulksdaddy1]

Everyone thinks their job is the most difficult of all

Have you ever had a job that literally makes you weep? That's a tough job.

 

I disagree with your first statement. No one is saying that.

 

And having a job and owning your own business are radically different things.

[Bookery]

I don't see LCS owners running around frantically busting their all day long-mostly they sit there on the internet or chit chatting. I think it would be a breeze compared to Chip's routine.

 

As I've said before... for some reason you really do insist in shopping at the wrong places.