WILL ALLENTOWN DETECTIVE #38 MEET RESERVE?

[action1kid]

being j.p owns it,what do you think the allentown tec#38 reserve will be..im gonna take a shot at 180k

[1962]

I would imagine the reserve is in the 200k range knowing how JP prices his items.

[action1kid]

yea, i think your right...what does he do with these museum pieces,i dont see them moving,,at least when his website is working!

[1962]

I wonder if JP has decided to get out of the market. His website seems to have been "Out of Order" forever.

[action1kid]

im really sick and tired of going to his website,its always down,hes got a rep now,

i wont even bother anymore

[action1kid]

this book tec 38 hit 155k on ebay and did not meet reserve a while back

[EJR]

JP has tonsof money so I think he is just testing the waters to see what his books will bring. I used to go on his website alot but its been down for along time now! He does have some jaw dropping books in his inventory! He used to sell alot more of his books on Ebay than he does now. I was lucky enough to buy some of them at a discount over what he was charging on his website. Erik

[action1kid]

thanks eric,,he had that tec 38 on ebay before,it went up to 155k and did not sell,hes had it a long while now so unless hes tired of holding on to it,it will very likely have a reserve that will be unreachable.. arnt the allentowns amazing!

[Aman619]

I think he'd like to sell it, but doesnt have to let it go cheap. Hes not testing the market for fun, if thats what you mean.

[esquirecomics]

this book tec 38 hit 155k on ebay and did not meet reserve a while back

 

I was the winning bidder on that book on e-bay. At the time he had it on his website for $175k. JP then offered it to me at $165k but I declined. Last time I checked his website when it was operational months ago, he had the book listed at $225k.

 

It was sold through Heritage back in 2003 for $120k or so.

 

And, no, I predict it will not meet reserve.

[Silver Surfer]

Can we get a link?

[rob_react]

allentown books are cool

[EJR]

Yeah Allentowns are really incredible books! I have only seen one and that was the Allentown Detective #29, it was graded a CGC 9.6! The Allentown Detective #38 isn't cheap but considering what a Batman #1 CGC 8.0 is doing on Ebay at $70K and still not meeting reserve, 200K for the Allentown Detective #38 is not that unreasonable! Erik

[markseifert]

Unless I'm reading it wrong or a mistake has been made, there's no reserve on this book (Tec 38 Allentown). Lots of interesting "no-reserves" in this auction, including the Marvel #1 original art page we were talking about in that other thread, and the White Mountain Amazing Fantasy #15.

[EJR]

Its a real shock that JP has all of his books listed with no reserve. At least it give us non-millionaire types a better change of winning one of his pedigree books!

[esquirecomics]

Even with no reserve, it still basically hit the price it sold for in 2003 so he won't lose money. It will go higher by the end of the auction.

[Thegoldenage]

Sure that wasn't shilled up to 100k?

 

If it stays where it is, and the bid is legit, he still lost money when taking into account yearly inflation. And 100k invested in even a modest investment vehicle in 2003 would have put him farther ahead than he is now.

[esquirecomics]

Sure that wasn't shilled up to 100k?

 

Unfortunately, no way of knowing. I am not even aware of any safeguards against it so one must always presume it is being done.

 

If it stays where it is, and the bid is legit, he still lost money when taking into account yearly inflation. And 100k invested in even a modest investment vehicle in 2003 would have put him farther ahead than he is now.

 

Absolutely. Don't forget whatever seller's commission he must fork over.

 

From what I know of JP though, I don't think he will be financially suffering over a slight loss such as this. Making money is all about risk. Sometimes you win, sometimes you lose. Oftentimes it evens out in the end.

[tth2]

Even with no reserve, it still basically hit the price it sold for in 2003 so he won't lose money. It will go higher by the end of the auction.

GPA only shows a sale for $120,750, back in Oct 2002. Is that the auction you're talking about, Mark?

 

Assuming the auction including BP ends at the same price of $120K, and assuming he's negotiated a deal with Heritage to pay NO seller's commission, that means he'd be out $16K. If he has to pay some seller's commission, then there will be additional loss. Then factor in time value of money, from having $120K sit idle since the end of 2002 and not earning interest or generating capital appreciation.

[tth2]

Sure that wasn't shilled up to 100k?

Wouldn't it be tough to shill on Heritage? Between the 15% BP, plus whatever seller's commission is being paid, and the lack of visibility on who (if anybody) is bidding against you, I'd be scared to even try to shill. I mean suppose I get a buddy to put in a good "floor price" bid on an item I'm selling, and he ends up winning? He is on the hook to pay full value, and I presume I'd have to make him whole, but the net proceeds that I, as seller get, is less BP and seller's commission. So now I'm still stuck with the book, but have spent 15%+ in cash for the privilege of being exactly where I started.