Significant Comic Art Auction at Profiles in History 30 July 2016

[artcollector9]

Mr. Mehdy!

 

While some consignors insisted on strong reserves on their lots, most all of the lots offered begin at honest prices that seem to be well below market value... I could list a bunch of them but I'll let them speak for themselves...good luck if you participate.

[J.Sid]

We shall see!

[artcollector9]

For just one example, one would think the Swamp Thing #4 cover at at the low estimate of $60,000 (plus juice) would be a bargain....any comic art sales catalog would have this item for sale at a much higher price point, probably 300-400% more!

 

 

[J.Sid]

Same was said about several of the high-end Frazettas at the Doc Dave auction. Many of those underperformed public expectations.

[artcollector9]

I believe the Doc Dave auction had 100% of lots sold. The consignor's expectations were certainly met!

[J.Sid]

Expectations met? You sure?

I was there, and it's my opinion that several things did not go well as he'd hoped they would. I keep waiting for the post-auction analysis he'd promised, but it's been 7 months now and his enthusiasm seems very different from his pre-auction enthusiasm.

[docdave37]

Just returned from vacation and this thread was brought to my attention.

 

My enthusiasm continues at a very high level, but that enthusiasm is not directed to art collecting right now. I was thoroughly satisfied with my PROFILES IN HISTORY auction. Joe Maddalena and Rob Pistella did a fantastic job in implementing the auction. The catalog set a new benchmark in our auction field and provided a nice legacy item for my 50 year collecting career. The market set the prices on each item...no msnipulation, no games, no nonsense.

The auction made me a multi-millionaire. What is not to like?? Life is very very good.

 

Yes, I did promise to do a post-mortem of the auction, but, then I thought it would ultimately be rather pointless. The market simply is what it is. It is not susceptible to ANY type of logical analysis. Most in this field collect from the standpoint of pure nostalgia or simply trying to impress their friends with their acquisitions. Many collect with their ears, not with a trained aesthetic eye cultivated over years of thoughtful deliberation and consideration. I have always argued in 40 years of writings that intrinsic artistic quality is the best motivation to collect. The pleasures received are deeper and longer lasting. But, that is my informed opinion. I fully understand all the other motivations to collect. People can spend money any way they please and collect any artist that puts a smile on their face.

 

I got out at the right time. The art collecting community is now dominated by the same investor mentality that took over the comic book field. It was inevitable, of course. As the prices rise, people must be concerned about the large chunks of money invested. It does diminish the purity of the original experience, however. Those days are long gone.

 

The sheer amount of quality art available this summer is staggering. Profiles and Heritage have done incredible jobs in amassing these current auctions. I am astonished that the field continues to absorb so much art at these price points. So many prople are divesting. A generational collecting shift appears to be taking place. This is the first time that such a monumental transfer of art has taken place....generationally. I am fascinated to see how all this will play out over time.

 

Again, as for me, I am pretty damn happy. And I am young enough and healthy enough to thoroughly enjoy my money for the next twenty years. Do you know how much fun there is in driving a Porsche? And, just for the hell of it, I bought an astonishing Frazetta drawing for my wall. I had to have "something".

 

All the very best! It is a great time to buy some great art for your walls. Buy the best...forget the pedestrian .

 

DocDave

[Bird]

Awesome to hear DocDave!

[Mmehdy]

Mr. Mehdy!

 

While some consignors insisted on strong reserves on their lots, most all of the lots offered begin at honest prices that seem to be well below market value... I could list a bunch of them but I'll let them speak for themselves...good luck if you participate.

 

The #1 auction house generally has no reserves in place which is ha. there are a high number of minimum bids in this auction which whether set by the consigner or auction house which make this not really a auction per se..but can I get a higher price than the reserve market...it is what it is..no matter how you spin it a real auction should start a a very low minimum price to attract buyers...the high reserves must be as a result of a the costs of catalogs and other items and that is your right to bump up the minimum bid, just as it is my right to call it what it is...a gallery sale on line.

 

DocDave, the comic book collecting market as well as the comic art market has become dominated by speculators and a few big fish.. you might want to go to comic connect.com and look at the impossible collection which contains 2 9.0 action #1's .so I agree with you, enjoy you super sports car you deserve it and you can see all the images on the Fritz books..comic art wise I agree with you Frtiz is by far the best painter and comic book artist ever to draw a comic book or paint a creepy cover..no doubt.... Timing is everything in life...and you were there and certainly paid your dues over time..cong on being a millionaire and hope you stay in the field.

 

I agree with you Doc by quality art that you will really enjoy...not just a "flip" purchase.

[delekkerste]

Auction is only a couple of days away at this point.

[suspense39]

I just noticed it can be viewed through eBay....easier to scroll through the art.

[Mmehdy]

Auction is only a couple of days away at this point.

 

That is a lot of Wrightson...with Ha.com coming right behind them with some great piece, super sdcc display and a killer catalog

[Cleangone]

The auction made me a multi-millionaire. What is not to like?? Life is very very good.

 

Well that's about the crassest post I've seen in a while.

 

What not to like?

- that you sold out in order to be able to write that sentence?

- that you turned 40 years of friendships and history into a check?

- that you're now are a walking cliche post middle-age guy talking about how fun it is to drive a porsche? (a stone I throw from inside that same age group)

 

You rail against the money influence, but you're a poster child for it. Your cost basis is pennies on the dollar, but you sold out anyway in order to talk about being a millionaire and vacations and porsches, all of which I would imagine the you of 30, 20, or even 10 years ago railing against. How can you tell people to buy the best and forget the pedestrian when you just got done doing the very opposite?

 

andy - who grew up with a mechanic dad who had 2-3 Porsches in the garage/driveway at any given time - they're nice cars, but certainly not worth hero worship

[Bronty]

It was crass for sure, I thought the same when I read it, but by the same token the time does come to sell sooner or later.

 

I don't know Dave, but I kind of have the impression (hey feel free to correct me) that he's putting up a "countin' all my money" front because he did expect some of the pieces to go for more.

 

 

[Cleangone]

I don't understand why it's an almost universally accepted truth that there will always be a time to sell.

 

- People don't blow out brokerage accounts because it's time to sell.

- People downsize houses, but just as many stay in the house they know they'll die in.

- Gold/sliver/diamonds/art are tangible stores of wealth that move from generation to generation without being liquidated.

 

Of course comic art is different. Like a lot of people, I'm sitting on a big pile of appreciation even though I never "invested" in art. But if economic bases are covered with real investing and income, why sell off your past? I'm 50 years old, and I think if I wanted to take my vacations at concierge beaches and drive sports cars with the wind blowing through my thinning hair, I would have started doing so 20 years ago.

 

Sure sell some, but going to zero, I don't understand that. Plus you'd have to find a completely new set of message boards and newsgroups aimed to your new interest in bank accounts and porsches.

 

andy - who rides a bike to work, with the wind blowing through his thinning hair

 

[Bronty]

what people do with their property is their business and they can have all sorts of reasons from selling from needing the money to just being a little bored with ownership after all those years to wanting to sell before they get old and potentially leave heirs with a mess.

 

Or maybe they just wanna drive a porsche and eat caviar sandwiches and use a gold toothbrush at night.

 

Whatever.

 

The whole "countin' my money" thing did feel a little "sonny boy" I will grant you that!

[Mmehdy]

The auction made me a multi-millionaire. What is not to like?? Life is very very good.

 

Well that's about the crassest post I've seen in a while.

 

What not to like?

- that you sold out in order to be able to write that sentence?

- that you turned 40 years of friendships and history into a check?

- that you're now are a walking cliche post middle-age guy talking about how fun it is to drive a porsche? (a stone I throw from inside that same age group)

 

You rail against the money influence, but you're a poster child for it. Your cost basis is pennies on the dollar, but you sold out anyway in order to talk about being a millionaire and vacations and porsches, all of which I would imagine the you of 30, 20, or even 10 years ago railing against. How can you tell people to buy the best and forget the pedestrian when you just got done doing the very opposite?

 

andy - who grew up with a mechanic dad who had 2-3 Porsches in the garage/driveway at any given time - they're nice cars, but certainly not worth hero worship

.

 

His videos hyping his pieces at auction are classic... Salesman 101.....I don't know if he is still posting them but they are must see...tv

 

Selling out... If you listen carefully to the video he still is collecting other things so I don't think it's fair to say he is a total sell out for a sports car.

[delekkerste]

I don't understand why it's an almost universally accepted truth that there will always be a time to sell.

 

- People don't blow out brokerage accounts because it's time to sell.

- People downsize houses, but just as many stay in the house they know they'll die in.

- Gold/sliver/diamonds/art are tangible stores of wealth that move from generation to generation without being liquidated.

 

Of course comic art is different. Like a lot of people, I'm sitting on a big pile of appreciation even though I never "invested" in art. But if economic bases are covered with real investing and income, why sell off your past? I'm 50 years old, and I think if I wanted to take my vacations at concierge beaches and drive sports cars with the wind blowing through my thinning hair, I would have started doing so 20 years ago.

 

Sure sell some, but going to zero, I don't understand that. Plus you'd have to find a completely new set of message boards and newsgroups aimed to your new interest in bank accounts and porsches.

 

I think that, if one does not have kids to pass the art down to, and/or if one is not so wealthy outside of their collection that their lives (especially in their later years) could be meaningfully improved/made easier by selling their collection, it makes sense to liquidate at some point. I mean, you can't take it with you, and if selling allows you to live out your life comfortably, or provide things (e.g., educations, weddings, etc.) for your children/grandchildren, I think that makes a lot of sense. I think a lot of people probably do fit one or both of the above criteria, which is why I suspect we'll see a fair amount of net liquidation as today's 40 and early 50-somethings who dominate the OA market eventually hit their late-50s to mid-60s (i.e., late enough where they have enjoyed the art for years/decades, but not too late where they can't enjoy the proceeds from selling). Some of the bigger/biggest collectors in the hobby have indicated to me various ages between 55 and 65 as to when they will probably turn into net sellers - not imminent, but not forever either.

 

Personally, I hope to keep at least a small core portion of my collection until the bitter end, and I hope that my child(ren) will appreciate the material enough to keep at least a few key pieces "in the family". That said, there's no guarantee that they will have that appreciation, or that I/they will be in a financial position to do so. I mean, we've all read about people who managed to blow 9, 10 and even 11-figure (Eike Batista, cough cough) fortunes, so I'm not taking anything for granted!

 

I don't remember if Dave has children or not, but, at the end of the day, I think he's a good guy and I'm really happy that he's enjoying his post-Frazetta collecting life. He had a great run owning the art, and I'm sure his presence here and in other comic art forums is still very welcomed. If his response earlier was a little over the top, remember that he was being challenged to justify how he really felt about the results of the sale.

 

BTW, now that you mention it I wonder if a certain French friend of ours only frequents concierge beaches!

 

- Gene

[Bronty]

concierge beaches!

 

- Gene

 

Is there any other kind?

 

Only half joking as I'm originally from a part of italy where all the nice waterfront is like that.

[Cleangone]

I don't understand why it's an almost universally accepted truth that there will always be a time to sell.

 

I think that, if one does not have kids to pass the art down to, and/or if one is not so wealthy outside of their collection that their lives (especially in their later years) could be meaningfully improved/made easier by selling their collection, it makes sense to liquidate at some point. I mean, you can't take it with you, and if selling allows you to live out your life comfortably, or provide things (e.g., educations, weddings, etc.) for your children/grandchildren, I think that makes a lot of sense. I think a lot of people probably do fit one or both of the above criteria, which is why I suspect we'll see a fair amount of net liquidation as today's 40 and early 50-somethings who dominate the OA market eventually hit their late-50s to mid-60s (i.e., late enough where they have enjoyed the art for years/decades, but not too late where they can't enjoy the proceeds from selling). Some of the bigger/biggest collectors in the hobby have indicated to me various ages between 55 and 65 as to when they will probably turn into net sellers - not imminent, but not forever either.

 

Personally, I hope to keep at least a small core portion of my collection until the bitter end, and I hope that my child(ren) will appreciate the material enough to keep at least a few key pieces "in the family". That said, there's no guarantee that they will have that appreciation, or that I/they will be in a financial position to do so. I mean, we've all read about people who managed to blow 9, 10 and even 11-figure (Eike Batista, cough cough) fortunes, so I'm not taking anything for granted!

 

I don't remember if Dave has children or not, but, at the end of the day, I think he's a good guy and I'm really happy that he's enjoying his post-Frazetta collecting life. He had a great run owning the art, and I'm sure his presence here and in other comic art forums is still very welcomed. If his response earlier was a little over the top, remember that he was being challenged to justify how he really felt about the results of the sale.

 

BTW, now that you mention it I wonder if a certain French friend of ours only frequents concierge beaches!

 

- Gene

 

I don't begrudge anybody anything, but the inconsistency was jarring; "Life's great with my new bank account after I sold the best, but you should buy the best."

 

Other general thoughts:

 

As for passing it down, the odds are always stacked against that. Max, the 7 year old, loves the Bowen busts (although his favorite is a Gentle Giant Spider-Ham - sorry, Randy), but my glaring black hole of nothing Star Wars may be my generational downfall. He can leave it in the closet, right next to where I keep my grandfather's collection of American coins.

 

If I wanted or needed to change something substantial in life, I'd sell. But I think I would gradually course-correct instead of coming to an all-or-nothing fork in the road, unless it was some out of nowhere health or financial disaster.

 

Net sellers, I understand. "Everything must go," I do not.

 

And I also don't know if Frenche M'Frenchmen is a beach-goer, but he's been burning up my phone with the five stages of grief over missing the Kirby Sky Masters Sunday I picked up in SD, so he's still got a toe or two in our pool.

 

andy