Significant Comic Art Auction at Profiles in History 30 July 2016

[AKA Rick]

+ 28% bp?.. Kind of a joke..

 

Buyer's Premiums will eventually be phased out, as most buyers grow tired of adding such a significant fee to their total cost, and it seems quite frankly excessive and needless.

 

The auction house should simply collect their fees from the seller, not the buyer.

 

As a buyer, it feels like a penalty and while you may feel elated from winning an auction, it's followed by deflation when you see... "this is what you bid ($3,000) and this is what you need to pay ($4,000)", even 'tho everything is clearly disclaimed.

 

For this reason, auction houses like ComicLink will thrive where Heritage and Profiles in History will eventually need to make a competitive shift, especially when, word on the street within the hobby, that some buyers are able to circumvent fees, much like how some sellers are charged varied consignment commission %'s, and the playing field is all but even and level.

[Eric Seffinga]

A couple of less mentioned goodies that I was watching (didn't bid on anything):

 

Jeffrey Jones - Idyl

One of the most poetic examples I've seen in a while. Maybe not the "sexiest" Idyl drawings, but the combo of writing and drawing artistry is really moving on this page. And for me, what comics is really all about.

 

Price? Yikes. Didn't realize these were up to this level.

 

Jeffrey Jones - Amazing Magazine cover

Another Jones. This one is a stone cold classic of Jeff's early work , and an expressive self portrait to boot. I did dig the King Kong piece, and it's a lot bigger and easier to enjoy as a complete view, but for me, the smaller more intimate crop and expression and the stylistic period of this cover made it my preference of the two. Though I was a little bummed to see it creep up to that $ level. Not a total shock, but would have loved it to have stayed closer to the estimate (for totally selfish reasons), since it is such a relatively small original.

[jjonahjameson1]

Well, now that the auction is over, which pieces were everyone's favorites?

 

Mine were:

 

BWS - Apollo & Artemis painting

BWS - Opus 2 Cover (Young Knight in the Garden of a Sphinx)

Jones - King Kong painting

Kaluta - Curse of the Crimson God illustration

Wrightson - Swamp Thing #4 Cover

 

Loved the Frankenstein plates too - they're beautiful, though none were really top-tier examples.

 

Of the pieces that sold, my favorite was the BWS "Fire" plate from the Sibyla portfolio. I've had each of the prints signed by Barry, matted & framed and displayed throughout my house so it was exciting to see an opportunity to purchase one of the originals.

 

I thought the starting price for this one was fair, but the buyer's premium was over the top. I'm not sure where the 28% BP is coming from, but it seemed the BP for this piece was in excess of 30% . That, in addition to the foreign exchange rate was off-putting and I didn't bid. Congrats to Robert on picking up this gem.

[robert frey]

I agree with Gene in that the extra 8% to bid on line would have been a major issue and definitely discouraged a lot of people from bidding. Also, being in the middle of the day (and finishing so quickly) would make it difficult for people with family obligations. For me, I have to pay HA an extra 8.6% on anything I win as I live in New York so I went into this knowing that I would do a phone bid and save myself some money. It is also better than flying to SD and spend thousands of dollars on airfare and lodging and then having to pay dealer prices. I also think that if you follow a particular artist, you probably should know right off the bat whether the opening bid price was in the ballpark of FMV and be able to act accordingly.

[jjonahjameson1]

+ 28% bp?.. Kind of a joke..

 

Buyer's Premiums will eventually be phased out, as most buyers grow tired of adding such a significant fee to their total cost, and it seems quite frankly excessive and needless.

 

The auction house should simply collect their fees from the seller, not the buyer.

 

As a buyer, it feels like a penalty and while you may feel elated from winning an auction, it's followed by deflation when you see... "this is what you bid ($3,000) and this is what you need to pay ($4,000)", even 'tho everything is clearly disclaimed.

 

For this reason, auction houses like ComicLink will thrive where Heritage and Profiles in History will eventually need to make a competitive shift, especially when, word on the street within the hobby, that some buyers are able to circumvent fees, much like how some sellers are charged varied consignment commission %'s, and the playing field is all but even and level.

 

If Buyer's premiums will be phased out, and auction houses are to collect fees from sellers only, then all of the risk is placed on the seller, and if that's the case then perhaps sellers would be more likely to:

 

1. Search for other sales methods prior to consigning to an auction house

2. Set reserve prices on a greater % of my consignments to auction houses

3. Seek greater engagements in trade or part cash/trade deals outside the scope of auction houses

 

The above assuming consignment prices remain the same as today or increase for sellers.

[Michael (OML)]

I bid on one piece and lost. I had planned to bid on several bigger pieces but was put off by the Internet premiums for the buyer so I decided to save my money for HA and C-Link.

 

Alas.

[tth2]

+ 28% bp?.. Kind of a joke..

 

Buyer's Premiums will eventually be phased out, as most buyers grow tired of adding such a significant fee to their total cost, and it seems quite frankly excessive and needless.

 

The auction house should simply collect their fees from the seller, not the buyer.

 

As a buyer, it feels like a penalty and while you may feel elated from winning an auction, it's followed by deflation when you see... "this is what you bid ($3,000) and this is what you need to pay ($4,000)", even 'tho everything is clearly disclaimed.

 

For this reason, auction houses like ComicLink will thrive where Heritage and Profiles in History will eventually need to make a competitive shift, especially when, word on the street within the hobby, that some buyers are able to circumvent fees, much like how some sellers are charged varied consignment commission %'s, and the playing field is all but even and level.

Sounds like a lot of wishful thinking.

 

BPs are the norm in auctions (see Sotheby`s and Christie`s), not the exception.

 

I have heard nothing to indicate that Heritage are going to, or feel the need to, give up their BP practice. They are still the 800 lb gorilla in comic-related auctions.

 

And the BP should NEVER cause any bidder to pay more than they planned to, unless they don`t know how to do basic arithmetic, in which case I question why they should be bidding in auctions in the first place.

[suspense39]

Could someone explain how that Eisner cover sold for 65K? I love Eisner, but I think that's something like 5-7X market, if not more.

 

I was very curious about that one as well. It wasn't even peak 40s Eisner.

[Twanj]

that trainwreck of an "auction" was the first PIH one I've watched. are they all that bad? I'd imagine the consignors weren't thrilled.

 

I thought about registering & bidding but I wasn't interested enough to get involved on another platform. I'm not in one of the taxed states, but the whole phone/net/absentee thing seemed a bit convoluted.

 

my favorite was the BWS Fire, along with some of his Conan stuff.

[suspense39]

Could someone explain how that Eisner cover sold for 65K? I love Eisner, but I think that's something like 5-7X market, if not more.

 

Closest competitor I could find from 2009

 

http://comics.ha.com/itm/original-comic-art/will-eisner-the-spirit-16-cover-original-art-quality-1949-/a/7013-93173.s?ic4=ListView-ShortDescription-071515

[cstojano]

I don't see buyer's premium going away anytime either. In fact, eBay is the only auction I know of that doesn't charge it. I also understand that the house takes a commission from the hammer price (20%) and pockets the buyer's premium. The extra 8% here was likely 3% credit card fees and 5% to Invaluable. Depending on how you look at it, the buyer's premium is simply taking from the consignor as people will only spend what a piece is worth. As such, the auction house should guarantee a higher price than otherwise could be achieved to make it worthwhile.

[delekkerste]

I don't see buyer's premium going away anytime either. In fact, eBay is the only auction I know of that doesn't charge it.

 

ComicLink and ComicConnect don't either.

[Mmehdy]

I don't see buyer's premium going away anytime either. In fact, eBay is the only auction I know of that doesn't charge it.

 

ComicLink and ComicConnect don't either.

 

 

more of a reverse BP at half the cost, they take it off the top of the price. However, I would not think the consigners would be reading this thead to know how bad of a job this catalog sale was..that is why they reauctioned some pieces in the middle of the auction, and don't be surprised on the resubmit.. some of that 28% bp was eliminated to get the piece back on the block and make the auction company not look as bad as they did...quite a shame so next time just publish a kick assss catalog with listed prices and be done with it, they published in my opinion the best art catalog size and print quality and blew ha away, there display at SDCC was the best I have ever seen, the material was mind-blowing quality....they did things with a 10/10 in that area..so spend the $ and get a decent platform and BINGO...they could shoot to the top if they continute to get quality material.

[cstojano]

I bought the Doc Dave catalog, these two showed up at my door for free. The cost to produce and mail those catalogs must have been high as well.

 

I have yet to bid on CL or CC and find them sort of confusing to use, to be honest. There are pieces I am interested in on CC but I am not clear who I am dealing with.

 

 

[glendgold]

Could someone explain how that Eisner cover sold for 65K? I love Eisner, but I think that's something like 5-7X market, if not more.

 

Closest competitor I could find from 2009

 

http://comics.ha.com/itm/original-comic-art/will-eisner-the-spirit-16-cover-original-art-quality-1949-/a/7013-93173.s?ic4=ListView-ShortDescription-071515

 

Right. Prime 1949 Eisner Spirit piece, incredibly rare cover to the comic book, goes for $31K. 1980s reprint Eisner goes for about $80K? That's weird. That's ASM 100 recreation weird.

[delekkerste]

Could someone explain how that Eisner cover sold for 65K? I love Eisner, but I think that's something like 5-7X market, if not more.

 

Closest competitor I could find from 2009

 

http://comics.ha.com/itm/original-comic-art/will-eisner-the-spirit-16-cover-original-art-quality-1949-/a/7013-93173.s?ic4=ListView-ShortDescription-071515

 

Right. Prime 1949 Eisner Spirit piece, incredibly rare cover to the comic book, goes for $31K. 1980s reprint Eisner goes for about $80K? That's weird. That's ASM 100 recreation weird.

 

I don't get yesterday's Eisner result either, but surely that comp from Nov. 2009 is ancient history at this point. I mean, a lot of mainstream comic art has tripled or more since then.

[tentpeg06]

that trainwreck of an "auction" was the first PIH one I've watched. are they all that bad? I'd imagine the consignors weren't thrilled.

 

Fellow posters,

I find it hard to believe that no one has commented on the PIH auction from 2003. This was the first auction where Maddalena cut his teeth into the potential opportunity that is Original Comic Art auctions. He had an incredibly auspicious selection for people throughout all genres. HA was nascent into their Signature auctions and had started the credibility build back in the day when John Perry ran this segment of HA. ComicLink and Comic Connect were around, but neither was a presence. The only true competitor at that time was All Star Auctions. Joe and Nadia were the leaders in the marketplace at that time. They continued what Christie's and Sotheby's abandoned in the mid 1990s.

 

I agree with most everyone's comments about the conduct and course of this auction. Back in 2003, PIH was hugely successful in collaborating with eBay for this auction. However, that was a point in time. Going through Invaluable this time around for this type of offering was indeed puzzling based on their past success. For me, PIH had something in the early 2000s where they could have easily become the leader in this space, but they ceded it to HA so that HA became the pre-eminent domain in the auction marketplace. All Star Auctions was still relevant at that time, but Joe and Nadia did not maintain the quarterly frequency that HA established.

 

A history lesson for all....relevancy matters!

My three cents since no one has brought up the 2003 PIH auction.

Ciao!

PRC

[LostDreams]

Regarding that PIH 2003 auction...a lot of credit for that should go to Tom Horvitz. Tom helped get much of that great inventory for that auction through his connections from years and years of art dealing. A very unfortunate thing happened and Horvitz and PIH parted ways...and that contributed to why there weren't regular PIH auctions thereafter.

[tentpeg06]

I remember that blow up quite well. I cannot remember if it was the SDCC in 2005 or 2006 (I think it was 2006), but Maddalena and Horvitz were both sharing space at the SDCC. Maddalena's kids had no respect for Horvitz's inventory, and I remember hearing that the Maddalena kids seriously damaged some pages from Horvitz's stock. Horvitz demanded that Maddalena reprimand and discipline his kids for which Maddalena refused. I have not seen Horvitz set up at the show since 2009. In fact, I do not believe that Horvitz has set up at this convention since then, but I may be incorrect.

 

This was quite the news at that particular show back in the days when the dealers historically were on the other side of the hall. One should be able to research this convo thread on the comicart-L site if it still exists in the archives.

[LostDreams]

Going back to Cleangone's (Andy) comment...Dave Winiewicz said the PIH auction made him a multi-millionaire, but yet the gross sales didn't even break two million...and surely he has to pay the Feds capital gains tax...so don't see multi-millionaire...