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Opportunity to buy Whiz #2...help
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Started by elibowman,

28 posts in this topic

elibowman

elibowman

Posted
Posted (edited)

I have an acquaintance that has a Whiz #2 for sale locally. This would be my largest comic book purchase BY FAR, and way outside my comfort zone (Silver Age). He wants $12K. I have seen it in bag a while back, but I certainly haven't inspected it. I didn't even hold it myself....just ogled at it. He says it's complete, but again, can't vouch for it yet. I have a ton of questions, but I want to focus on the ones that matter BEFORE I look at the book.

This is an internet image of the book: 

Image result for whiz comics #2 

 

1. GPA for Whiz Comics #1 (1940 - 1953) shows last low grade sale (1.0 in Dec-216) was for $27,055. I am pretty certain that we are talking about the same book here, but would you guys please confirm for me? I know that Whiz #2 is actually #1, etc., etc. I just wish GPA was a little clearer on this one. There are no pics for reference on GPA. I am certain the image above is the book that is for sale.

2. How many pages should this book have? I'm so used to counting 16 double sided pages, I don't want to screw up on this basic item.

3. I know there are threads about spotting restoration, and I intend to do some research before I have in hand (maybe as soon as this weekend!). But, any SPECIFIC advice is much appreciated.

4. What the <squee> am I missing? This guy is not a comic novice. In fact, I know he has had books graded by CGC in the past. The book seemed like a solid, but low grade copy. No obvious pieces missing, no front cover writing, seemingly solid spine (again, I have to inspect out of the bag before I know anything for sure). This seems like a NO BRAINER. I feel like I am missing something completely obvious.

 

Thanks guys. If I hadn't already seen the book in person, I would think this is too good to be true. But, I know the guy, and I have seen the book. I just need to be sure I don't make a $12K mistake here. 

 

image.png

Edited by elibowman
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G.A.tor

G.A.tor

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I'm guessing it's restored. If so, probably an ok buy at 12k, even if extensive. 

If he's not a comic novice highly unlikely book is unrestored as even a low grade copy is 30k+ I suspect 

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Robot Man

Robot Man

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Unless you know this guy pretty well be VERY careful. The picture you posted does not look like a 12K copy. Ask him point blank it it has had any work done to it.  Remember, if it's too good to be true, it usually is...

Since you seem to be a SA guy, I have to ask why all of a sudden you are considering a large GA key that you seem to now very little about?

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elibowman

elibowman

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Posted (edited)
1 hour ago, Robot Man said:

Unless you know this guy pretty well be VERY careful. The picture you posted does not look like a 12K copy. Ask him point blank it it has had any work done to it.  Remember, if it's too good to be true, it usually is...

Since you seem to be a SA guy, I have to ask why all of a sudden you are considering a large GA key that you seem to now very little about?

The pic is just an internet pic of the book that is for sale...not a pic of the actual copy in question.

 

Honestly, I would only be purchasing get it graded, and to to flip this. I am on the hunt for ASM 1 and Hulk 1 for long term holding. I am daydreaming that I may clear enough to land one of those books. Flipping would involve some time, and likely a hefty commission, I know. But, I have the resources to pull it off if I get comfortable with the copy. I have collected comics for 30 years, and have always dreamed of owning one of the big books. However, I have never really researched Whiz more than browsing Overstreet's market reports/top xx lists. This one just happened to come up. Again, this isn't a buy-and-hold for me. That's too much tied up in one book for my current situation. But, on a (reasonably) short term flip, I could bring the $12K to the table. The biggest book I have ever owned to hold is more like $1K, and the biggest flip I have ever done in the past was about a $2K entry point. So, this is a bit of a departure.

 

I will absolutely ask him about resto. He and I have discussed the topic before on another book he had (Marvel Mystery of some number). It had been professionally done by a local guy, and he was showing it off. I have that guy's name tucked away somewhere. I can call and discuss if he has worked on a Whiz #1 (#2) to sort of double check.

Edited by elibowman
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Sqeggs

Sqeggs

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You're dealing with someone who is familiar with getting books graded and has a GA key he would like to move in a private sale but hasn't had it graded?  Seems like a red flag to me.  

The price seems reasonable, but there are circumstances in which the flip you are hoping for won't work out. Say the book is trimmed, has a missing cf, has ct, and gets a low apparent grade.  If that happens, is your relationship with this guy such that you believe you would be able to get your money refunded?

If the book were easily worth more than $12K, why isn't this guy getting it graded and putting it up for auction?  Why is he, in effect, cutting you in for a share of the money he could make on the book?

I don't want to be a Debbie Downer, but I would proceed with caution.

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kav

kav

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if he wants 12K then he is aware something is wrong.  Since he hasnt revealed what it is, it just all seems too shady to me.  Better if he just came out and said yeah the book has resto, missing coupon etc so I think 12K is a fair price etc.  The fact that he's just dangling it out there makes me nervous.

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elibowman

elibowman

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Thanks all. I agree. I don't think I would have written here without being nervous. I am going to have to just approach it with extreme caution and see what is going on. I have never known the guy to be dishonest, but he's not really a friend...just a fellow collector I know. One thing I do know is that he is more an Overstreet type of guy than a GPA type of guy. For whatever that's worth. 

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telerites

telerites

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14 hours ago, Sqeggs said:

You're dealing with someone who is familiar with getting books graded and has a GA key he would like to move in a private sale but hasn't had it graded?  Seems like a red flag to me.  

The price seems reasonable, but there are circumstances in which the flip you are hoping for won't work out. Say the book is trimmed, has a missing cf, has ct, and gets a low apparent grade.  If that happens, is your relationship with this guy such that you believe you would be able to get your money refunded?

If the book were easily worth more than $12K, why isn't this guy getting it graded and putting it up for auction?  Why is he, in effect, cutting you in for a share of the money he could make on the book?

I don't want to be a Debbie Downer, but I would proceed with caution.

Agree with Squeggs.  Why not make the deal to have the book graded and if it comes back as per the agreed terms or within reasonable range on grading, you pay the CGC costs.  Heck I would even offer to pay a percentage of the cost if it comes back with unexpected results or at worst, a reprint just for the peace of mind and save me a tubload of hassle in addition to the $12K cost.

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Robot Man

Robot Man

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On 8/1/2017 at 7:31 PM, elibowman said:

Thanks all. I agree. I don't think I would have written here without being nervous. I am going to have to just approach it with extreme caution and see what is going on. I have never known the guy to be dishonest, but he's not really a friend...just a fellow collector I know. One thing I do know is that he is more an Overstreet type of guy than a GPA type of guy. For whatever that's worth. 

He might not be out and out dishonest, just a little "shady" Watch it!

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elibowman

elibowman

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 OK. I got my hands on the book today. It does not appear to be restored in anyway. It's pretty rough. The back cover is missing altogether. The complete statement that I got from him was referencing the pages. All the pages are there, the front cover has a small piece missing, and it's completely detached. The pages are pretty brittle. Thoughts?

 

 

IMG_3754.JPG

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