Action 1 Cgc 8.5 white in next CC auction 1 1

[Gotham Kid]

41 minutes ago, rob_react said:

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

Bidder list + soundtrack to go along with it.

 

Edited March 26, 2018 by Gotham Kid

[rob_react]

Thanks. Looking at that book it had a high dealer floor. Assuming 10538 was a dealer, the floor on that book (treating metro as a proxy and not a "dealer" in this sense) was  2,700,000. There were several other $1,000,000+ bidders that were dealers or dealer/collectors (25432, 5127 and all of the 4 figure feedback types) If we see anything like that bidding pattern on this book, the purchase price is a given. 

[Gotham Kid]

Agree. 9**1, m**m and y**i I think were collectors.

Edited March 26, 2018 by Gotham Kid

[N e r V]

52 minutes ago, rob_react said:

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? 

 

Are there cases in comics where people join forces to buy these upper end books?

I ask that because I’ve dabbled in other markets like coins and baseball cards where that happens. A couple of friends of mine got together to buy their first Honus Wagner card. It happens all the time in the stock market too if you want to buy a single share of Berkshire Hathaway stock you’re looking at nearly 300k for 1 share.

I just can’t remember if any comics have had that sales situation.

 

 

[rob_react]

6 minutes ago, N e r V said:

Are there cases in comics where people join forces to buy these upper end books?

I ask that because I’ve dabbled in other markets like coins and baseball cards where that happens. A couple of friends of mine got together to buy their first Honus Wagner card. It happens all the time in the stock market too if you want to buy a single share of Berkshire Hathaway stock you’re looking at nearly 300k for 1 share.

I just can’t remember if any comics have had that sales situation.

 

 

Not that I know of. But that doesn't mean it doesn't happen. How do people structure it? 

[N e r V]

1 hour 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

Um, if that was the case and the upper grades start hitting resistance for lack of buyers able to pay wouldn’t that at some point start to cause problems for asking prices and sales on the mid and lower graded books too? It seems some people might start asking themselves why they are paying prices for lesser conditions that don’t really match up to the spread.

I can’t see the old 3X spreads or whatever from the past working today at these prices. Action #1 back then was a 1k or couple of k’s back then. I really think buyers just might not buy into that kind of spread market and start not feeling secure if they view Action #1 or whichever book as an investment which I think is mostly what these buyers are thinking.

 

[N e r V]

3 minutes ago, rob_react said:

Not that I know of. But that doesn't mean it doesn't happen. How do people structure it? 

Same as anything else. Business contracts signed. I had friends do the same thing here in Cali where you have multi million dollar homes. Just make sure everything is legal and clear to all sides. 

[lou_fine]

45 minutes ago, rob_react said:

53 minutes ago, N e r V said:

Are there cases in comics where people join forces to buy these upper end books?

I ask that because I’ve dabbled in other markets like coins and baseball cards where that happens. A couple of friends of mine got together to buy their first Honus Wagner card. It happens all the time in the stock market too if you want to buy a single share of Berkshire Hathaway stock you’re looking at nearly 300k for 1 share.

I just can’t remember if any comics have had that sales situation.

 

 

Not that I know of. But that doesn't mean it doesn't happen. How do people structure it? 

Didn't Borock team up with somebody when he picked up the Church copy of More Fun 52 way back in the early 90's or was that all on his own? 

[G.A.tor]

Dealers split deals and books all the time. 

Not sure if collectors do?

[Sqeggs]

8 minutes ago, G.A.tor said:

Dealers split deals and books all the time. 

Not sure if collectors do?

You, me, and that Action 1.  A threesome made in heaven! 

[namisgr]

22 hours ago, bronze johnny said:

Thx.

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

Yes.  When Bronze Bruce posted the story of a couple of his best books developing staple rust when stored in a safe.  His experience supports Nerv's comment above that different aspects of storage contribute to the two problems.

[N e r V]

16 minutes ago, szavisca said:

I’ll join with you on this one if you want, but with what I’ll be able to contribute I’ll proably only be entitled to keep the book at my house on my turn one day every 2-3 years...

When I was still in the business as a dealer I got to own copies of Detective #27 and Marvel #1. I had chances to get Action #1 several times. No regrets. I miss not getting a copy of the Marvel #1 with an oct. date more than anything else. I can still “visit” copies of Action #1 thanks to family and friends. It’s an astounding book to look at for its place in comics history.

It’s just that I’m just older now and 3 million bucks can buy me more pleasure elsewhere. 

Edited March 26, 2018 by N e r V

[lou_fine]

3 hours ago, Crowzilla said:

13 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.

Sean;

It was directly as a result of your Sleepers column in CBM that I gained the foresight to snagged books like Startling 10 and Jackpot 4 when they were still kind of flying under the radar at the time.

I remember being at the Diamond Int'l Galleries Grand Opening back in '95 and fortunate enough to spot the Startling 10 and  putting it into my pile.  Fishler noticed it in in my pile and kept transferring it over into his pile of books before finally giving it back to me for good.  His rationale was that he would be able to turn that book into a major key that would "rock and roll", whereas if it was sitting in my collection, it would be locked up in there for decades going absolutely nowhere.

I guess in a sense he was absolutely correct. 

[Hudson]

Looks like I am going to be forced to go buy a Mega Millions ticket.

[Silver Surfer]

Even if I win the lotto I wouldn't spend $2M+ on a book that potentially has rusted staples.

[clarkkentdds]

I was shocked to hear about the passing of this collector. I believe he was a member of the boards very briefly. I didn't think he was that old...

The same collector had contacted me (through various dealers) during the early 2010s seeking very high grade GA superhero stuff.

 

[N e r V]

1 hour ago, Silver Surfer said:

Even if I win the lotto I wouldn't spend $2M+ on a book that potentially has rusted staples.

 

[rob_react]

1 hour ago, Silver Surfer said:

Even if I win the lotto I wouldn't spend $2M+ on a book that potentially has rusted staples.

It doesn't potentially have rusted staples. It has rusted staples. 

[pemart1966]

6 hours ago, N e r V said:

Same as anything else. Business contracts signed. I had friends do the same thing here in Cali where you have multi million dollar homes. Just make sure everything is legal and clear to all sides. 

...AND that it's in both person's will as to what happens to their half...

Edited March 26, 2018 by pemart1966

[N e r V]

1 hour ago, rob_react said:

It doesn't potentially have rusted staples. It has rusted staples. 

In your professional opinion if there were 2 Action #1 books that were equal in grade/PQ with the only difference being that rusty staples noted on one of them how much of a difference in the final sales would that impact? 

Use the current 8.5 as an example if one had the note about rust and another did not.