Heritage's Next Event Auction has started posting books ! 31 31

[comicjack]

On 6/23/2023 at 12:19 PM, GreatCaesarsGhost said:

Mine will line my casket

They say you can't take it with you they lied coffin filler 

[ThothAmon]

On 6/23/2023 at 1:45 PM, comicjack said:

They say you can't take it with you they lied coffin filler 

Maybe we can get CGC to expand into encasing collectors with their prized books for the hereafter. Sadly with all the medical devices in me I’d get the dreaded PLOD. 

[adamstrange]

On 6/23/2023 at 12:19 PM, GreatCaesarsGhost said:

Mine will line my casket

 

[buttock]

On 6/23/2023 at 11:41 AM, Johnny545 said:

Ignoring the Promise books there were soft prices on numerous other books. 

Seems like there's a 10-20% softening across the board.  Obviously some things vary, but in general even GA is a little less perky than it had been.  And realistically you have to expect that.  Prices couldn't sustain at the growth they were.  

[MrBedrock]

On 6/23/2023 at 1:39 PM, ThothAmon said:

Maybe we can get CGC to expand into encasing collectors with their prized books for the hereafter.

No way they have a big enough case.

[MrBedrock]

On 6/22/2023 at 10:49 PM, tth2 said:

You must think my brain is the size of a peanut! 

A peanut? You give yourself too much credit.

[skypinkblu]

On 6/23/2023 at 3:23 PM, MrBedrock said:

No way they have a big enough case.

I bet if you offered enough and your family did not say EWWWW when you suggest it, they could figure out how to manufacture one. 

I worked for a plastics company for a short time when I was in school, you'd be amazed at what they could fabricate...and that was quite a while ago;) 

[C. Spaulding]

While the encapsulation process being described is fascinating. I’m more concerned if it would come with grader notes.

[Mmehdy]

On 6/23/2023 at 9:15 AM, Funnybooks said:

These Promise books will never realize real world gains over time adjusted for inflation. These books are dead money, so, I hope the owners enjoy them for a very long time.

On 90% of the promise books it is possible, maybe...just maybe 10% can break even with 2% showing some growth. Whoever timed the same, looking backwards he was super smart. Given the evidence of these sales numbers which are very early, however, to make such a broad statement is a bit early in the game...we are probability in only the 3d inning of a 9-inning game. Of course, if inflation continues at over 5/6% per year or greater the possible break-even point is less probable.

 In the long, we hoped that the exceptional once-in-a-lifetime condition of these great GA books would make up for the extra maximum that we had to pay. I do not think anyone expected the "Promise " price crash that has occurred. If you recall, however, I did suggest that if you bought Promise books you would have to hold them for a significant time and avoid quick flips.

Price or not these are truly great GA books in one of the last original GA comic book collections and they are pedigreed, but I would not be surprised in 6 months if all asset classes decline, it could be stocks, real estate, bonds, coins, cards when the coming recession hits.... that will be the real test as to when you have to dump them. I believe they will recover,long term...but you have to have the ability to hold thru the tough times

 

Edited June 24, 2023 by Mmehdy

[tth2]

On 6/24/2023 at 12:09 AM, Mmehdy said:

I have been a supporter of the promise collection and believe those book are great books. What I have been mistaken about is the correlation between them and the Mile High Collection. Yes I thought it would follow the same pattern of taking years to "catch up" to the "real world" comic book prices. It appears that the Promise Collection was sold at the perfect exact moment of a comic book price bubble and them it went for an insane over market price.

 I was wrong....they may never hit true market price on a number of those books...The GA Action prices cannot be dismissed.

Wow, credibility being restored!  

[tth2]

On 6/24/2023 at 12:09 AM, Mmehdy said:

SO...NOW IS THE TIME TO BUY PROMISE COLLECTION books, while there is a "fire sale"....

... and gone. 

[tth2]

On 6/24/2023 at 2:45 AM, buttock said:

Seems like there's a 10-20% softening across the board.  Obviously some things vary, but in general even GA is a little less perky than it had been.  And realistically you have to expect that.  Prices couldn't sustain at the growth they were.  

So OA is the last pillar left standing! 

[tth2]

On 6/24/2023 at 9:08 AM, Mmehdy said:

On 90% of the promise books it is possible, maybe...just maybe 10% can break even with 2% showing some growth. Whoever timed the same, looking backwards he was super smart.

No, the buyers (and the cheerleaders) were just super stupid.

[tth2]

On 6/24/2023 at 9:08 AM, Mmehdy said:

I do not think anyone expected the "Promise " price crash that has occurred.

You must not have been reading any of the threads that discussed the Promise sales during the past couple of years.  Many people expected exactly what has occurred. 

[sagii]

On 6/24/2023 at 12:37 AM, tth2 said:

You must not have been reading any of the threads that discussed the Promise sales during the past couple of years.  Many people expected exactly what has occurred. 

In an alternate reality,  would you say that these books would've held their value if say, none of them came back to market until 4 to 5 years have passed? 

I look at the last major pedigree find before it (Billy Wright), and those books seem to be doing very well now (some 10 years later is it?). I know it's a much smaller collection but the Promise dwarfs it in terms of HG examples. 

Edited June 24, 2023 by sagii

[tth2]

On 6/24/2023 at 12:48 PM, sagii said:

On 6/24/2023 at 12:37 PM, tth2 said:

You must not have been reading any of the threads that discussed the Promise sales during the past couple of years.  Many people expected exactly what has occurred. 

In an alternate reality,  would you say the these books would've held there value if say, none of them came back to market until 4 to 5 years have passed? 

I look at the last major pedigree find before it (Billy Wright), and those books seem to be doing very well now (some 10 years later is it?). I know it's a much smaller collection but the Promise dwarfs it in terms of HG examples. 

It's hard to say because the multiples paid for these books were so huge over anything that had been paid before.  But certainly if all of the books had disappeared from the market for 4-5 years and some mystique had started to develop around them, then certainly the losses would not be so big. 

Unfortunately, we'll never know because so many came pouring back into the market so quickly and have turned the pedigree into a bit of a joke.  

[Mmehdy]

On 6/23/2023 at 9:34 PM, tth2 said:

So OA is the last pillar left standing! 

It is of course a very different animal...you are dealing with one of kind...FF painting that sold for 6 million is a prime example in the very same auction....great piece and very unlikely to come to the market again and will probably be ended up in a museum like all them, donated for tax purposes. Again, lets not kick the Promise collection into the reject pile....of course we would need a dramatic turn around.....lets talk about this 5 years from now...like fine wine give it some breathing time...BUT if we go into a deep recession...and  IF those instant crypto rich kids dump the overbidded promise collection GA books  they bought on the market all at once......God help us all...

Edited June 24, 2023 by Mmehdy

[Mmehdy]

On 6/23/2023 at 9:37 PM, tth2 said:

You must not have been reading any of the threads that discussed the Promise sales during the past couple of years.  Many people expected exactly what has occurred. 

Anyone can play either side of the fence...our  Pedigree GA comic book  history has shown, when we  paid 3x guide plus for the SF collection or MH...over time it reaped great rewards. So history was on my side at the time of the initial sale....lets let it play out...who knows....but for now....it looking pretty bad,,,for the present they are 100% right....but we know over time how things somehow change.....If you plan on being a collector for the next 7-10 years...Promise "fire sale" books are a no brainer if you can hold, and hold and not sell them but I will admit...we are certainly not at the bottom if we hit a serious economic recession 4thQ this year 

Edited June 24, 2023 by Mmehdy

[GreatCaesarsGhost]

On 6/23/2023 at 11:35 PM, tth2 said:

No, the buyers (and the cheerleaders) were just super stupid.

you know I can hear you, right? 
 

[tth2]

On 6/24/2023 at 6:09 PM, GreatCaesarsGhost said:

On 6/24/2023 at 12:35 PM, tth2 said:

No, the buyers (and the cheerleaders) were just super stupid.

you know I can hear you, right? 
 

Sorry, but the prices paid were just so high.  It's not like prices were weak at the time they came to market.  They were already at all-time highs, and yet the Promise books went for a huge premium over then-current prices.  Perhaps there are some exceptions here and there, but in general the prices, particularly for the high grade books, were mindboggling.  I know that some of the books were really quite rare, particularly in high grade, and collectors I respect a lot paid over the odds for them because they knew they might not get another shot at those issues in those kinds of grades any time soon.  But sometimes the best deal is the one you didn't do.