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Heritage's Next Event Auction has started posting books !
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Started by Gotham Kid,

7,943 posts in this topic

tth2

tth2

Posted
Posted
On 6/24/2023 at 2:13 PM, Mmehdy said:
On 6/24/2023 at 12:34 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.

The whole argument that prices won't fall for art because a piece of art is "one of a kind" is a total myth.  Prices on "one of a kind" paintings and art work go down all the time.  Many paintings much more expensive than Dark Kingdom, and that would go into a real museum if they were ever offered, have gone down in value. 

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Robot Man

Robot Man

Posted
Posted
On 6/24/2023 at 3:57 AM, tth2 said:

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.

I have always said, you are rarely sorry what you do buy but often sorry what you don’t.

But your statement shoots holes through what I just said.

There are of course those with more money than sense that probably wouldn’t be hurt any way. There are also those who bought with “funny money”.

But there were probably a lot of folks who drank the Kool Aide and swallowed the hype for the lure of a quick buck that took it in the shorts on something they really couldn’t afford to do.

Without question, one of the most amazing collections ever to come to market.

Those who bought for the love of the books and are willing to hang on to for the long term, depending what they bought and paid, might come out Ok in the long term, But the jury is still out.

So far, the winner is the auction house not the buyers. A perfect storm for HA. 

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TheLexLuthorCollection

TheLexLuthorCollection

Posted
Posted
On 6/23/2023 at 11:13 PM, Mmehdy said:

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...

Despite the huge drops that we saw on the Promise books, the prices realized yesterday were, for the most part, higher than what was the market value pre-Promise in June 2021.  Things are just trending back to "normal".

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Robot Man

Robot Man

Posted
Posted
On 6/23/2023 at 11:13 PM, Mmehdy said:

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...

It wouldn’t hurt me in the least. I could only pray to wade through that dump. But, I don’t think I am going to live that long. 

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Mmehdy

Mmehdy

Posted
Posted
On 6/24/2023 at 8:26 AM, TheLexLuthorCollection said:

Despite the huge drops that we saw on the Promise books, the prices realized yesterday were, for the most part, higher than what was the market value pre-Promise in June 2021.  Things are just trending back to "normal".

That is assuming there is some sort of "Floor" big recessions have a way of creating a new floor...downward

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Mmehdy

Mmehdy

Posted
Posted (edited)
On 6/24/2023 at 4:01 AM, tth2 said:

The whole argument that prices won't fall for art because a piece of art is "one of a kind" is a total myth.  Prices on "one of a kind" paintings and art work go down all the time.  Many paintings much more expensive than Dark Kingdom, and that would go into a real museum if they were ever offered, have gone down in value. 

The savy art buyer has a back stop...it is called charitable deduction..and with a one of a kind art...who sets real value...obviously the price paid is the floor, the museum wants it for free... the sky is the limit on value..again the FF for 6M buyer has a way out as it is one of a kind....not the promise collection however...with GPA and auctions results...true current market value can easily be obtained...big difference here in flexibility due to it being one of kind.

Edited by Mmehdy
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adamstrange

adamstrange

Posted
Posted
On 6/24/2023 at 12:34 AM, tth2 said:

So OA is the last pillar left standing! 

From the OA Heritage Thread:

  

On 6/24/2023 at 1:33 PM, DJRome said:

I've always believed that the oa market would stay on fire as long as buyers felt that they could profitably flip their auction winnings through he same venue within a span of six months. With this auction, I'm comfortable saying that we've finally passed that point and the wave of speculation that brought almost everything up in value has finally passed.

 

On 6/24/2023 at 1:26 PM, gumbydarnit said:

I’m not cheering for anyone’s losses, however the silver lining might be, a downward trend for valuations will cause some of the investor types to look elsewhere for returns and we could end up in a place where comic art prices are more in line with where collectors (not investors) think they should be, probably wishful thinking.

 

On 6/24/2023 at 12:59 PM, delekkerste said:

Tens of millions of dollars of original art traded hands at the peak of the market's fervor in 2021 and 2022 and yet you consistently make it seem like everybody bought a long time ago and is unaffected by the softening witnessed in certain swaths of the market since then. And this is even when we've already seen numerous examples this year of 2021 and 2022-purchased art being resold at steep losses. You can say it's their fault for re-selling so soon or paying so much in the first place, but, it certainly suggests that there's a lot more art out there that is effectively underwater and that those owners would sell at similar losses if they had to liquidate now.

Searchhistoryformillerdaredevil169ComicArtTracker.png.thumb.png.69aff57e6f5e481a37b9566bd808c8fd.png

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adamstrange

adamstrange

Posted
Posted (edited)
On 6/24/2023 at 2:31 PM, ThothAmon said:

Please explain. Early dinosaur cover?

Clearly, the lackluster market resulted in a bargain.

Edited by adamstrange
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MrBedrock

MrBedrock

Posted
Posted
On 6/24/2023 at 1:45 PM, szav said:

Plastic Man finally getting his due?...... I dunno, might be some new lovers of the rubbery guy in the market as I think some of the only Promise Collection resale winners in MasterChief's latest update were also Plastic Man books.

I won all of today's except the 41 and 55. I love 'em. Fortunately I already had a 41 -

 

plasticman41.jpg

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tth2

tth2

Posted
Posted
On 6/25/2023 at 2:04 AM, adamstrange said:

From the OA Heritage Thread:

  

 

 

On 6/25/2023 at 12:59 AM, delekkerste said:

Tens of millions of dollars of original art traded hands at the peak of the market's fervor in 2021 and 2022 and yet you consistently make it seem like everybody bought a long time ago and is unaffected by the softening witnessed in certain swaths of the market since then. And this is even when we've already seen numerous examples this year of 2021 and 2022-purchased art being resold at steep losses. You can say it's their fault for re-selling so soon or paying so much in the first place, but, it certainly suggests that there's a lot more art out there that is effectively underwater and that those owners would sell at similar losses if they had to liquidate now.

 

I am shocked--shocked!!!--that Delekkerste had a bearish take on things! 

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tth2

tth2

Posted
Posted

Maybe the demise of sky high prices has been greatly exaggerated.  Are bidders put off by a live floor auction, preferring a robot auctioneer instead?

Large Feature Comic (Series I) #4 Church CGC NM- 9.2 OW-W ... $10,200

Plastic Man #41 CGC NM 9.4 OW-W ... $7,200

Superman #63 CGC NM+ 9.6 W ... $16,200

Journey Into Mystery #108 CGC NM+ 9.6 W ... $11,100

 

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adamstrange

adamstrange

Posted
Posted (edited)
On 6/24/2023 at 10:32 PM, Professor K said:

Hey everyone, why does Taffy 2 sell for so much more than Taffy 1? 

Taffy 2 is considered a Hitler cover due to the way that the bug driving the tank is drawn.

Edited by adamstrange
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