Action 1 Cgc 8.5 white in next CC auction 1 1

[Sqeggs]

3 hours ago, woowoo said:

 Vincent e-mailed me Friday and said nothing on the Action 1 8.5  I can not afford that copy but the first to get the scoop would have been nice .

He e-mailed me, too.  He said, "When's that *&$# @woowoo finally going to buy something from us!"  

Was that the same e-mail you received? 

[bronze johnny]

19 hours ago, Sqeggs said:

And I suppose if some public spirited citizen would spring for the notes we could tell whether the rusted staples are mentioned. 

How does a book have white pq with rusty staples?

[N e r V]

17 minutes ago, bronze johnny said:

How does a book have white pq with rusty staples?

Because rust comes about with reactions of iron and oxygen and water or air moisture for a long period of time. 

Paper turning yellow, tan, brown or brittle is from a different set of storage issues/conditions up to and including the actual makeup of the paper itself.

So yes, it’s possible.

Edited March 25, 2018 by N e r V

[bronze johnny]

3 minutes ago, N e r V said:

Because rust comes about with reactions of iron and oxygen and water or air moisture for a long period of time. 

Paper turning yellow, tan, brown or brittle is from a different set of storage issues/conditions up to and including the actual makeup of the paper itself.

So yes, it’s possible.

Thx.

Has anyone around here ever seen a cgc graded book having white pq with rust on the staples? 

[Sqeggs]

Just now, bronze johnny said:

Thx.

Has anyone around here ever seen a cgc graded book having white pq with rust on the staples? 

There was a Baker auctioned on CLink a year or two ago that had that combo.  One of the Sixth Street books.  They had been stored in a cellar and some have rust (and coal dust!) but are otherwise very nice -- best copies known in some cases.

[bronze johnny]

5 minutes ago, Sqeggs said:

There was a Baker auctioned on CLink a year or two ago that had that combo.  One of the Sixth Street books.  They had been stored in a cellar and some have rust (and coal dust!) but are otherwise very nice -- best copies known in some cases.

Thanks- that's all I needed to know because I've never seen one.

[N e r V]

If the rust is super early on I know of people that used very delicate methods of removing it with lemon, lime, salt, vinegar, baking soda, etc.. combos and lightly scrapping it off. Depends on how far along it is though.

Blue labels as long as you don’t damage the staples or rest of the book in the process.

[woowoo]

46 minutes ago, Sqeggs said:

He e-mailed me, too.  He said, "When's that *&$# @woowoo finally going to buy something from us!"  

Was that the same e-mail you received? 

Well tell the people to stop outbidding me

[Crowzilla]

13 hours ago, lou_fine said:

Maybe it's just the angle of the 2 photos, but the spine portion on the white part of the logo now seems to be a lot whiter than it was in the old slab. 

It looks fine in the photo with the original holder from CC's website:

[lou_fine]

23 minutes ago, Crowzilla said:

13 hours ago, lou_fine said:

Maybe it's just the angle of the 2 photos, but the spine portion on the white part of the logo now seems to be a lot whiter than it was in the old slab. 

It looks fine in the photo with the original holder from CC's website:

Sean;

Ok, you managed to twist my arm and convinced me with your photo here.

I guess I'll step up to the plate here and dig deep into my pocket and see if I can fish out a dime to pay full price for this used book here.    

BTW:  I really missed the Sleepers column you used to do in the pages of CBM back in the day.  I guess there's no chance and not enough hours in the day for you to contemplate doing one for us here?   

[sfcityduck]

On 3/24/2018 at 4:44 PM, G.A.tor said:

Owner passed away

So .... that means that we are now down to only four living people who have ever paid $1M+ for a comic book?

This 8.5 Action 1 was purchased in 2010 for $1.5M.

Be interesting to see what impact the absence of this buyer and Hariri have on the market on this auction.

 

[jabats]

I honestly think there's been a bit of a "glut" of Action 1s and Tec 27s in the past 9 months, and based on that alone, this book might bring less than it otherwise might.

[rob_react]

41 minutes ago, sfcityduck said:

So .... that means that we are now down to only four living people who have ever paid $1M+ for a comic book?

This 8.5 Action 1 was purchased in 2010 for $1.5M.

Be interesting to see what impact the absence of this buyer and Hariri have on the market on this auction.

 

It's going to be a really interesting auction. When I last went through the exercise, I valued this at 2.5 million.  Thinking about it now I think the logical range is $2,000,000 to $3,000,000 with anything less than 2 being a "disappointing" result.  The logical range only holds up if there's a bidding pool with the $$ to back it up, however, so we'll have to just wait and see. 

[sfcityduck]

34 minutes ago, rob_react said:

It's going to be a really interesting auction. When I last went through the exercise, I valued this at 2.5 million.  Thinking about it now I think the logical range is $2,000,000 to $3,000,000 with anything less than 2 being a "disappointing" result.  The logical range only holds up if there's a bidding pool with the $$ to back it up, however, so we'll have to just wait and see. 

The notion that anything less than a 33% increase in price for this book would be disappointing is tough for me to buy into.  The pool of individuals who play in the $1M end of the comic collecting pool appears to be very small -- no more than five people have paid $1M, maybe less.  Only six comics have sold for $1M or over.  Only four Action 1s have hit $1M.  Given that this buyer and Harriri collectively account for every Action 1 purchase over $1M (only the Kansas City copy 8.0 also has hit $1M), and they are out of the bidding, then it seems to me that even a $1.5M result would be a sign of a healthy market.  Even at only $1.5M, that would still be the third highest price ever paid for a comic book.

Edited March 26, 2018 by sfcityduck

[Crowzilla]

10 hours ago, lou_fine said:

BTW:  I really missed the Sleepers column you used to do in the pages of CBM back in the day.  I guess there's no chance and not enough hours in the day for you to contemplate doing one for us here?

Thanks for the nice words, and while I still buy some books and enjoy chatting with everyone here, I'm not nearly active enough to do columns like that anymore - you should be asking Gator or one of the other guys who is really on top of the market.

26 minutes ago, rob_react said:

It's going to be a really interesting auction. When I last went through the exercise, I valued this at 2.5 million.  Thinking about it now I think the logical range is $2,000,000 to $3,000,000 with anything less than 2 being a "disappointing" result

Two million would be right at guide now, yes? Would be an interesting statement on the market (and Overstreet's historical widening of the spreads between grades) if we start seeing low grade copies bring multiples of guide, mid grade bring guide and a half, and high grade struggle to reach guide.

Surely this copy of Action 1 has to be worth more than this Mantle card coming to auction, yes?

52 Mantle PSA 9

Edited March 26, 2018 by Crowzilla

[sfcityduck]

36 minutes ago, rob_react said:

 Thinking about it now I think the logical range is $2,000,000 to $3,000,000

Seems to me that the "logical" thing to do if you want to pay $3M for an Action 1 is to offer that $3M to Hariri for his under copy.

[rob_react]

7 minutes ago, sfcityduck said:

The notion that anything less than a 33% increase in price for this book would be disappointing is tough for me to buy into.  The pool of individuals who play in the $1M end of the comic collecting pool appears to be very small -- no more than five people have paid $1M, maybe less.  Only six comics have sold for $1M or over.  Only four Action 1s have hit $1M.  Given that this buyer and Harriri collectively account for every Action 1 purchase over $1M (only the Kansas City copy 8.0 also has hit $1M), and they are out of the bidding, then it seems to me that even a $1.5M result would be a sign of a healthy market.

That's why I put "disappointing" in quotes, my own words are tough for me to buy into, too  

The logical numbers that I see for it ($2-3 million) are warring with the uncertainty around who the pool of bidders is for this book are going to be. Who is in play for this book competitively? Will there be dealers or collectors who aren't into it competitively there ready to serve as a floor for this book at something like the 1.5 million purchase price?  My guess is there will be and there will be healthy floor on the book. I think it's makes the purchase price pretty easily. How far beyond that is anyone's guess. 

How many big dollar bidders were there for the eBay Action #1? Did anyone save the bid history? 

 

[pemart1966]

41 minutes ago, Crowzilla said:

Thanks for the nice words, and while I still buy some books and enjoy chatting with everyone here, I'm not nearly active enough to do columns like that anymore - you should be asking Gator or one of the other guys who is really on top of the market.

Two million would be right at guide now, yes? Would be an interesting statement on the market (and Overstreet's historical widening of the spreads between grades) if we start seeing low grade copies bring multiples of guide, mid grade bring guide and a half, and high grade struggle to reach guide.

Surely this copy of Action 1 has to be worth more than this Mantle card coming to auction, yes?

52 Mantle PSA 9

There were a lot of nice '52 Mantles in the Rosen find yet that hasn't really affected the demand/price has it?

[rob_react]

22 minutes ago, Crowzilla said:

Two million would be right at guide now, yes? Would be an interesting statement on the market (and Overstreet's historical widening of the spreads between grades) if we start seeing low grade copies bring multiples of guide, mid grade bring guide and a half, and high grade struggle to reach guide.

 

I've seen it happen with really competitive books at all price points. When people are piling into a book, at every price point there's a group of people who can go no higher than that price point who are going to push the book to the maximum of their budget. The problem with that is people from higher up the price point ladder can swoop down and pick up a copy lower than their target range, just to own one. Get two people like that and a $2,000 VG copy can suddenly turn into a $3-4000 book because two whales looking for a NM copy decided not to wait. Competition for high grade copies can still be strong, but it might not be frenzied. 

I am actively trying to buy a book where I've seen this sort of pattern play out in crazy ways (and I'll talk about it once I win one of them )

 

[rob_react]

33 minutes ago, sfcityduck said:

Seems to me that the "logical" thing to do if you want to pay $3M for an Action 1 is to offer that $3M to Hariri for his under copy.