Detective Comics 27 CGC 2.5 Blue Label going up for auction 0

[atomised]

3 minutes ago, Gotham Kid said:

Sorry Rick, me thinks book will hit 400 and beyond.

what was the BIN price when it was on the clink exchange? thanks

[Mr bla bla]

Just now, atomised said:

what was the BIN price when it was on the clink exchange? thanks

425

[Gotham Kid]

2 minutes ago, atomised said:

what was the BIN price when it was on the clink exchange? thanks

450 then dropped to 425 after a (long) while. Book belongs to a board member.

Edited September 26, 2017 by Gotham Kid

[G.A.tor]

2 minutes ago, Gotham Kid said:

Sorry Rick, methinks book will hit 400+. We'll find out in Nov.

I wonder who...no one "bid" 400 when it was available for purchase?

[Gotham Kid]

8 minutes ago, G.A.tor said:

12 minutes ago, Gotham Kid said:

Sorry Rick, methinks book will hit 400+. We'll find out in Nov.

I wonder who...no one "bid" 400 when it was available for purchase?

There are bidders that only show up for auctions (Heritage, Pedigree, CC and CL). They don't do Exchange listings. In their minds the good stuff usually shows up then. I know one such bidder personally. He is a high grade SA collector though.

Edited September 26, 2017 by Gotham Kid

[jabats]

5 minutes ago, Gotham Kid said:

There are bidders that only show up for auctions (Heritage, Pedigree, CC and CL). They don't do eBay and they don't do Exchange listings. In their minds the good stuff usually shows up then. I know one such bidder personally. He is a high grade SA collector though.

For sure. "No Reserve" are two magic words.

[bluechip]

57 minutes ago, G.A.tor said:

so maybe 375 is the right price

Hard to say.   In my casual but regular check of key sales listed as buy it now versus auctions, it seems like the hesitation some people have to buying something with a fixed price has increased to the point they will pay much more at auction and/or even shun completely anything with a buy now price as if it's suspect just because it's not at auction.   Putting things on ebay with a fixed price has gotten to the point where it seems almost as pointless as it is risky to put them on ebay with no reserve.   At least two people bid  past 100K for a Superman 1 in 1.0 even though one was available on ebay for 83K.   And at least two people bid over 20K for an incomplete Detective 27 lacking any part of the Batman story while there was a copy on ebay that had all the same pages, as well as the three wraps with the entire Batman story.   Sure, there were page quality issues with both books and the 27 in ebay was priced at 50% more, but it's hard not end up asking whether PQ more important than having the actual parts of the book which make it valuable.   Or whether some people just can't believe something is valuable without somebody else vying for it in real time.  

 

Edited September 26, 2017 by bluechip

[Mmehdy]

350-375...my guess

[Martin Sinescu]

2 hours ago, bluechip said:

Hard to say.   In my casual but regular check of key sales listed as buy it now versus auctions, it seems like the hesitation some people have to buying something with a fixed price has increased to the point they will pay much more at auction and/or even shun completely anything with a buy now price as if it's suspect just because it's not at auction.   Putting things on ebay with a fixed price has gotten to the point where it seems almost as pointless as it is risky to put them on ebay with no reserve.   At least two people bid  past 100K for a Superman 1 in 1.0 even though one was available on ebay for 83K.   And at least two people bid over 20K for an incomplete Detective 27 lacking any part of the Batman story while there was a copy on ebay that had all the same pages, as well as the three wraps with the entire Batman story.   Sure, there were page quality issues with both books and the 27 in ebay was priced at 50% more, but it's hard not end up asking whether PQ more important than having the actual parts of the book which make it valuable.   Or whether some people just can't believe something is valuable without somebody else vying for it in real time.  

 

I think with a web store or eBay BIN listing there's a different mindset for buyers: maybe hold out to see if the price will drop, maybe it will be there for a while and you can come back to it in a month or two, etc.. There's not really much to stir any "panic". An auction, though, is final. It means an impending sale (unless there's a reserve), so suddenly that book you procrastinated on is on the block for a week or so and you might not get another chance if it's a rare book. Plus, you can usually see how many people are bidding and you can weigh how spirited the bidding is. Many more factors that can induce desperation bids and realize higher prices than what you might've paid on a straight sale. Had it happen to me plenty of times and I kicked myself for not buying at the list price.

[Wayne-Tec]

2 hours ago, bluechip said:

Hard to say.   In my casual but regular check of key sales listed as buy it now versus auctions, it seems like the hesitation some people have to buying something with a fixed price has increased to the point they will pay much more at auction and/or even shun completely anything with a buy now price as if it's suspect just because it's not at auction.   Putting things on ebay with a fixed price has gotten to the point where it seems almost as pointless as it is risky to put them on ebay with no reserve.   At least two people bid  past 100K for a Superman 1 in 1.0 even though one was available on ebay for 83K.   And at least two people bid over 20K for an incomplete Detective 27 lacking any part of the Batman story while there was a copy on ebay that had all the same pages, as well as the three wraps with the entire Batman story.   Sure, there were page quality issues with both books and the 27 in ebay was priced at 50% more, but it's hard not end up asking whether PQ more important than having the actual parts of the book which make it valuable.   Or whether some people just can't believe something is valuable without somebody else vying for it in real time.  

 

I think you hit the nail on the head here. I've seen the same thing. When a book sits on eBay with an asking price that seems strong but reasonable, I believe collectors are afraid that the price isn't justified because they don't know that multiple people are willing to pay just as much as they are.

In auction format, if they win, they win at a price neck and neck with what others are also willing to pay, thus, confirming in their minds that said book really is worth it. There is also the hype and thrill of an auction. A book sitting on eBay as a BIN is just there, waiting. If you're bidding in an auction, you think it's now or never.

There are a number of quality books available for sale, that can be had for fair prices if you just talk with the seller and come to terms on a number that works well for both parties. For these mega-keys, the trajectory is usually upward, not downward.

[N e r V]

1 minute ago, Wayne-Tec said:

I think you hit the nail on the head here. I've seen the same thing. When a book sits on eBay with an asking price that seems strong but reasonable, I believe collectors are afraid that the price isn't justified because they don't know that multiple people are willing to pay just as much as they are.

In auction format, if they win, they win at a price neck and neck with what others are also willing to pay, thus, confirming in their minds that said book really is worth it. There is also the hype and thrill of an auction. A book sitting on eBay as a BIN is just there, waiting. If you're bidding in an auction, you think it's now or never.

There are a number of quality books available for sale, that can be had for fair prices if you just talk with the seller and come to terms on a number that works well for both parties. For these mega-keys, the trajectory is usually upward, not downward.

That might be true but I'd also suggest that shows a lack of research by the buyer and a poor business sense. 

I would not want someone like that being my financial advisor or making stock picks for me. 

Do a little homework on your investments...

[jabats]

In the fine art world, if a high-$ piece from a desirable artist sits unsold for more than a few weeks or months, it can get an unfortunate stigma:

"what do the other potential buyers know, that I don't?"

... even if the price is reasonable.

the auction format hugely affects buyer psychology (both with fine art and collectibles like comics). And when we are talking 6 figure prices for pieces of paper... buyer psychology is a (the?) huge driver of the market.

[Sqeggs]

4 hours ago, Gotham Kid said:

4 hours ago, G.A.tor said:

4 hours ago, Gotham Kid said:

Sorry Rick, methinks book will hit 400+. We'll find out in Nov.

I wonder who...no one "bid" 400 when it was available for purchase?

There are bidders that only show up for auctions (Heritage, Pedigree, CC and CL). They don't do Exchange listings. In their minds the good stuff usually shows up then. I know one such bidder personally. He is a high grade SA collector though.

I think it could go either way.  I believe you're right that a lot of books on the CLink exchange are overlooked -- strange as it seems to those of us who pore over every listing wherever it may be! 

Otoh, with a book like this, the CLink folks can be pretty good at searching out potential buyers. But, on the third hand, there are probably deep-pocketed collectors that Heritage has access to that CLink doesn't. 

[mwotka]

To me this thread is example #1 of why grading labels should be taken with a MAJOR grain of salt.  When a savvy and knowledgeable collector/dealer can tape up a holy grail like a Tec 27 to chase a higher "rating" from some grading co and they don't even have the wherewithal to not grade a book that just got taped up with a higher grade, just wow.  Talk about blowing a gaping hole in their credibility.   I get that they have since made "changes" to their policies, but how the heck do you not know this when dealing with a book like a Tec 27 that they've previously graded?  So much about this is just painful to consider.  And I say all this as someone who would LOVE to own that copy, even with the tape, and I wish I'd had the funds in '09 to buy the 1.5 as it was a great investment.  But when a few strips of tape can ADD over a hundred thousand in value, something ain't right.  

[jabats]

45 minutes ago, mwotka said:

To me this thread is example #1 of why grading labels should be taken with a MAJOR grain of salt.  When a savvy and knowledgeable collector/dealer can tape up a holy grail like a Tec 27 to chase a higher "rating" from some grading co and they don't even have the wherewithal to not grade a book that just got taped up with a higher grade, just wow.  Talk about blowing a gaping hole in their credibility.   I get that they have since made "changes" to their policies, but how the heck do you not know this when dealing with a book like a Tec 27 that they've previously graded?  So much about this is just painful to consider.  And I say all this as someone who would LOVE to own that copy, even with the tape, and I wish I'd had the funds in '09 to buy the 1.5 as it was a great investment.  But when a few strips of tape can ADD over a hundred thousand in value, something ain't right.  

The number on the blue label would increase the value by X00,000 to a less experienced collector, sure.

not sure it would change the value near as much for a more experienced collector (unless they planned to resell it). The book is the book regardless of the number on the label. 

[jabats]

Also if you take the reputable grading companies out of the picture ... in the "old days" I am sure plenty of less knowledgeable buyers got fleeced really badly.

Rather than relatively minor quibbles about grading policies changing over time... stuff like buyers thinking they're getting an unrestored 5.0 (which is really a restored and slightly trimmed 4.5) etc.

I don't think the grading companies or their policies are perfect, but in the grand scheme of things if a less experienced collector ends up with an unrestored Tec 27 I think they are doing ok whether they pay 375, 400 or whatever!

of course Expert collectors still have the "upper hand". But CGC has surely overall been quite a friend to the casual non-expert collector.

[jabats]

By the way I do agree with you mwotka that grading labels should be taken with a grain of salt!! They are not the end all be all.

[Larryw7]

In my honest opinion, I'd rather have the taped cover. I have a couple of expensive 1.8 keys I can't even open because I'm afraid the cover will chip more if I touch them. I guess I'm not a purist that way, but I like to be able to handle my books.

[LDarkseid1]

On September 26, 2017 at 10:54 AM, bluechip said:

Hard to say.   In my casual but regular check of key sales listed as buy it now versus auctions, it seems like the hesitation some people have to buying something with a fixed price has increased to the point they will pay much more at auction and/or even shun completely anything with a buy now price as if it's suspect just because it's not at auction.   Putting things on ebay with a fixed price has gotten to the point where it seems almost as pointless as it is risky to put them on ebay with no reserve.   At least two people bid  past 100K for a Superman 1 in 1.0 even though one was available on ebay for 83K.   And at least two people bid over 20K for an incomplete Detective 27 lacking any part of the Batman story while there was a copy on ebay that had all the same pages, as well as the three wraps with the entire Batman story.   Sure, there were page quality issues with both books and the 27 in ebay was priced at 50% more, but it's hard not end up asking whether PQ more important than having the actual parts of the book which make it valuable.   Or whether some people just can't believe something is valuable without somebody else vying for it in real time.  

 

I mean yeah, Brittle pages for that Supes 1 is going to play a big role in that comparison.

[Dark Knight]

Agreed