Superman 1 CGC 5.5 sells for $507,500 0

[Dark Knight]

Ugh that AC 1 CGC 6.0 book sold for a bargain even at that time. It was like yesterday when I was watching the extended bidding count at CC. I really wanted to bid on the book but am not a big player with that kind of $ to. If I did though, the bidding would be a lot more.  I was surprised that it ended for that much, I expected at least $500k.  Now the book is probably worth around $700-$800k?  

[rob_react]

26 minutes ago, Dark Knight said:

Ugh that AC 1 CGC 6.0 book sold for a bargain even at that time. It was like yesterday when I was watching the extended bidding count at CC. I really wanted to bid on the book but am not a big player with that kind of $ to. If I did though, the bidding would be a lot more.  I was surprised that it ended for that much, I expected at least $500k.  Now the book is probably worth around $700-$800k?  

We were discussing that book, at the time, as the book that should have broken the public record price for a comic book (which at the time was $350,000!)

[showcase22gr1959]

1 hour ago, Dark Knight said:

Ugh that AC 1 CGC 6.0 book sold for a bargain even at that time. It was like yesterday when I was watching the extended bidding count at CC. I really wanted to bid on the book but am not a big player with that kind of $ to. If I did though, the bidding would be a lot more.  I was surprised that it ended for that much, I expected at least $500k.  Now the book is probably worth around $700-$800k?  

A 5.5 unrestored sold at Heritage sold for a little under a mil not too long ago.  I would think a 6.0 unrestored should be over 1 mil.

[Dark Knight]

50 minutes ago, rob_react said:

We were discussing that book, at the time, as the book that should have broken the public record price for a comic book (which at the time was $350,000!)

Yep even at $350k it was still a steal of a price. Lucky buyer.

[Gotham Kid]

5 minutes ago, showcase22gr1959 said:

A 5.5 unrestored sold at Heritage sold for a little under a mil not too long ago.  I would think a 6.0 unrestored should be over 1 mil.

yup

[Dark Knight]

9 minutes ago, showcase22gr1959 said:

A 5.5 unrestored sold at Heritage sold for a little under a mil not too long ago.  I would think a 6.0 unrestored should be over 1 mil.

I forgot about that copy and have to look back at that sale. But if it sold for close to a mil then my conservative estimate was too conservative 

[showcase22gr1959]

Just now, Dark Knight said:

I forgot about that copy and have to look back at that sale. But if it sold for close to a mil then my conservative estimate was too conservative 

It's good to be conservative.  

 

6 minutes ago, Gotham Kid said:

yup

[G.A.tor]

I was the under bidder on the action 1. 

The winner was willing to goto 400k (I heard after auction ended ). If folks remember I predicted it would sell for 317 k bc I knew that's what I was willing to pay. 

Edited March 15, 2017 by G.A.tor

[Dark Knight]

28 minutes ago, G.A.tor said:

I was the under bidder on the action 1. 

The winner was willing to goto 400k (I heard after auction ended ). If folks remember I predicted it would sell for 317 k bc I knew that's what I was willing to pay. 

Yep I remember you were one of the bidders and also your prediction of 317k.  Just crazy how prices have exploded since then.  

[rob_react]

40 minutes ago, G.A.tor said:

I was the under bidder on the action 1. 

The winner was willing to goto 400k (I heard after auction ended ). If folks remember I predicted it would sell for 317 k bc I knew that's what I was willing to pay. 

Eerily accurate prediction

[G.A.tor]

10 minutes ago, rob_react said:

Eerily accurate prediction

 I had "inside info " (i.e. I knew my max  )

[Bronty]

I remember that as well   We were all very impressed.   Sad in that you sort of predicted you would lose out and did, but at least it was by no small margin.

Dolmayan outbid you IIRC?

[G.A.tor]

32 minutes ago, Bronty said:

I remember that as well   We were all very impressed.   Sad in that you sort of predicted you would lose out and did, but at least it was by no small margin.

Dolmayan outbid you IIRC?

For a client. Yes

[lou_fine]

On 3/14/2017 at 11:07 AM, jahagans said:

So what is the entry point for this book right now (if I may ask that in this thread). There is a 1.0 for sale at auction next week...

 

 

On 3/15/2017 at 7:02 AM, G.A.tor said:

On 3/15/2017 at 6:25 AM, jahagans said:

Ok, please tell me if I understand this correctly... 

... Price per point applies to low grade 2,3,4 (but not necessarily to 'entry level' i.e. 1.0)

... Entry level will tend to have a premium

So if price per point for Supes 1 is $50k...

2.0 ~= $100k (assuming 50k price per point)

2.5 ~= $125k (assuming 50k price per point)

3.0 ~= $150k (assuming 50k price per point)

4.0 ~= $200k (assuming 50k price per point)

But since a 1.0 would be entry level, it might sell for a premium above that '50k per point' rule? (e.g. a 1.0 might be worth 65k rather than 50k, if a 2.0 is worth 100k)?

Thanks for the knowledge and patience with me BTW :-)

Seems most superman 1s are 1.0-2.5

at 3.0 and above probably closer to 75k a point (or more). Mid grade expect 100k a point 

 

last year multiple 1.5-2.0s sold around 50k a point. This year , who knows!

 

but yes, entry level typically gets higher avg bc most feel it's only opportunity. So they might consider paying /stretching 70k for a nice 1.0 bc they can't afford 100k for a 1.8

Well, based upon the initial post from the board member here, I assume he must be referring to the Supes 1 coming up in CC's Event auction next week:

http://www.comicconnect.com/bookDetail.php?id=703674

Since it's still sitting at only $26K as of Thursday night, it looks like it still has a long ways to go to get into the $50K to $70K price range.  On the other hand, it might not sell for a premium to the normal price point since it doesn't present that nicely, especially with that huge chunk out from the front cover. 

Not sure what the normal bidding strategy for these extended time auction formats are like.  Is it common for most of the bidding to be done at the end since nobody really needs to play their cards before the auction?  Or is there no point to wait because the auction house will simply continue to extend the time as long as bids are still being received? 

Just wondering since it seems that a large majority of the auction lots still have high bids nowhere close to where I would expect the books to sell for.  Of course, there's still close to a week left in the auction for all of these lots here, so I guess it's just a matter of wait and see.     

 

[jabats]

8 hours ago, lou_fine said:

 

Well, based upon the initial post from the board member here, I assume he must be referring to the Supes 1 coming up in CC's Event auction next week:

http://www.comicconnect.com/bookDetail.php?id=703674

Since it's still sitting at only $26K as of Thursday night, it looks like it still has a long ways to go to get into the $50K to $70K price range.  On the other hand, it might not sell for a premium to the normal price point since it doesn't present that nicely, especially with that huge chunk out from the front cover. 

Not sure what the normal bidding strategy for these extended time auction formats are like.  Is it common for most of the bidding to be done at the end since nobody really needs to play their cards before the auction?  Or is there no point to wait because the auction house will simply continue to extend the time as long as bids are still being received? 

Just wondering since it seems that a large majority of the auction lots still have high bids nowhere close to where I would expect the books to sell for.  Of course, there's still close to a week left in the auction for all of these lots here, so I guess it's just a matter of wait and see.     

 

1. I am definitely not the expert but yes, I could see that Supes 1 being less appealing to many on account of how it presents (missing piece of cover)

2. Per your other question, my experience on this is from several years ago, but yes, much of the bidding was "day of" (w/ a lot of activity occurring even in the last hour for some lots)

[lou_fine]

15 minutes ago, jahagans said:

9 hours ago, lou_fine said:

Not sure what the normal bidding strategy for these extended time auction formats are like.  Is it common for most of the bidding to be done at the end since nobody really needs to play their cards before the auction?  Or is there no point to wait because the auction house will simply continue to extend the time as long as bids are still being received? 

Just wondering since it seems that a large majority of the auction lots still have high bids nowhere close to where I would expect the books to sell for.  Of course, there's still close to a week left in the auction for all of these lots here, so I guess it's just a matter of wait and see.     

 

2. Per your other question, my experience on this is from several years ago, but yes, much of the bidding was "day of" (w/ a lot of activity occurring even in the last hour for some lots)

It's certainly interesting to note that we have 3 major auction houses when it comes to comic books, and all 3 of them uses a completely different format as to how their individual auction lots ends.

I wonder which one of the formats is best for the potential bidders and which one is best for the consignors?  Or maybe it's just six of one, half dozen of the other? 

[Wayne-Tec]

On March 14, 2017 at 2:07 PM, jahagans said:

So what is the entry point for this book right now (if I may ask that in this thread). There is a 1.0 for sale at auction next week...

 

Link?

[jabats]

http://www.comicconnect.com/bookDetail.php?id=703674

[G.A.tor]

10 hours ago, jahagans said:

http://www.comicconnect.com/bookDetail.php?id=703674

Yikes. I hope no one would place an eye appeal premium on that copy

[lou_fine]

3 hours ago, G.A.tor said:

14 hours ago, jahagans said:

http://www.comicconnect.com/bookDetail.php?id=703674

Yikes. I hope no one would place an eye appeal premium on that copy

If you are referring to the big chunk missing from the front cover, that's nothing more than DC's version of Marvel chipping since they always like to do things "bigger and better" than the boys at Marvel. 

Apparently, nothing to see here anyways as CGC supposedly does not take Marvel chipping into account when grading since it is considered to be an acceptable "production defect" at certain grade levels.   

Edited March 20, 2017 by lou_fine