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It's baaayaaackk...!

Started by Aman619,

23 posts in this topic

tth2

tth2

Posted
Posted

It looks like the other stuff he sold at the last auction sold for real, so I guess the answer is yes, it will sell for real this time too. The real question is for how much.

 

I wonder if the infamous doctor/dentist who bought this for $150K still watches the market at all and whether he gets nightmares everytime he sees this book.

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ComicBookGuy

ComicBookGuy

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It's been a while, but if I recall, JP put it up on eBay with a reserve of over $100K, but the reserve was not met. Then he put it up again, the comic was won, but the rumor is that the winner was unable to pay for it. There are many on these boards that know all this stuff in detail; that's the best I can remember off the top of my head.

Joe

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tth2

tth2

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It's been a while, but if I recall, JP put it up on eBay with a reserve of over $100K, but the reserve was not met. Then he put it up again, the comic was won, but the rumor is that the winner was unable to pay for it. There are many on these boards that know all this stuff in detail; that's the best I can remember off the top of my head.

Joe

Story goes earlier than that. The book was owned by a major SA collector known as the Chocolate Man. He sold it in a private sale (through Josh Nathanson I believe) at the height of Spidey-mania (late 2002 or early 2003) to a buyer (supposedly a doctor or dentist) for $150K. A few months thereafter, the buyer put the book up on Heritage and sold it for $92K, taking a huge bath. The rumour was that he needed to sell it to raise funds to buy some equipment for his business. Apparently the buyer in the Heritage auction was JP. A year or so ago, JP put the book up on eBay, with no reserve if I recall, and Chris Bell won it. For reasons never explained, the deal did not go through.

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Kakapo

Kakapo

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I only know the name Chris Bell from the "Chris Bell has too much freakin' money!" thread. wink.gif

 

A $58k bath? Ouch. Moral of the story: buy and hold, rather than buy and flip? In a decade that book will surely be worth more than $150k in 2003 dollars.

 

I need a cool nickname to hide my identity from everyone...sort of like a superhero 893scratchchin-thumb.gif This parrot won't cut it...Thanks for the info anyway, guys.

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Kakapo

Kakapo

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In the near future, sure, but it wasn't that long ago that the NM price for ASM 1 was about $10k...one more business cycle and there will be several copies in the six-figure range. Maybe. At least, I think there will be... tongue.gif

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1962

1962

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The gentleman who bought that book and took the huge loss in the subsequent Heritage Auction was a chiropractor who went by the ebay handle "Italian Treasure". Through ebay prior to the Heritage Auction he won some PC Spideys that I was auctioning that I had purchsed directly from Robert Roter. He paid absolute nosebleed prices at the time. Very shortly after that I saw my books listed for sale in the Heritage Auction along with the Spidey #1 and the rest of his Spidey collection which was killer. Unfortunately he was trying to flip everything way to quick and he crashed and burned in the Heritage Auction. flamed.gif

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tth2

tth2

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A $58k bath? Ouch.

 

It was probably far worse than that. He sold a full run at the same time, the #1 was just one book we knew his buying price on.

More than a $58K bath on the ASM #1 alone. The $82K sale price on Heritage was inclusive of BP. After you take that out, and take out seller's commission, if he was charged one, the seller got back quite a bit less than $82K.

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tth2

tth2

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Unfortunately he was trying to flip everything way to quick and he crashed and burned in the Heritage Auction. flamed.gif

He would have had to wait a long time to sell at a profit. The fact is he paid too much at the very height of Spidey-mania.

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rob_react

rob_react

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Unfortunately he was trying to flip everything way to quick and he crashed and burned in the Heritage Auction. flamed.gif

He would have had to wait a long time to sell at a profit. The fact is he paid too much at the very height of Spidey-mania.

 

I really wish GPA had some of those sales recorded. I think GPA started up just after the Spider-Man movie opened, which means it's was about 6 or so months behind what I remember being the craziest prices. Some books are still well under water three plus years later (ASM 14)

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Aman619

Aman619

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The gentleman who bought that book and took the huge loss in the subsequent Heritage Auction was a chiropractor who went by the ebay handle "Italian Treasure". Through ebay prior to the Heritage Auction he won some PC Spideys that I was auctioning that I had purchsed directly from Robert Roter. He paid absolute nosebleed prices at the time. Very shortly after that I saw my books listed for sale in the Heritage Auction along with the Spidey #1 and the rest of his Spidey collection which was killer. Unfortunately he was trying to flip everything way to quick and he crashed and burned in the Heritage Auction. flamed.gif

 

all true, except, as the story goes, he needed to buy some very expensive medical equipment within a year of buying all those sweet Spideys for top top dollar. It was unplanned and was forced to sell way too soon. It wasnt that he tried to flip them too soon, he just needed the money. Unplanned disappointing disaster, but not greed at work

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tth2

tth2

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Unfortunately he was trying to flip everything way to quick and he crashed and burned in the Heritage Auction. flamed.gif

He would have had to wait a long time to sell at a profit. The fact is he paid too much at the very height of Spidey-mania.

 

I really wish GPA had some of those sales recorded. I think GPA started up just after the Spider-Man movie opened, which means it's was about 6 or so months behind what I remember being the craziest prices. Some books are still well under water three plus years later (ASM 14)

GPA wouldn't have captured the true record prices anyway. They don't capture ComicLink transactions, and in any event the $150K sale was done offline by Josh, so it never even showed up on ComicLink. I would be willing to guess that every big ticket ASM is still underwater compared to the record prices paid either privately or publicly at the height of Spidey-mania.

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