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

[skypinkblu]

 I forgot it was ending

[skypinkblu]

I thought the Action 13 would go higher.

 

https://comics.ha.com/itm/golden-age-1938-1955-/superhero/action-comics-13-dc-1939-cgc-gd-25-cream-to-off-white-pages/a/7341-92002.s?ic2=mytracked-lotspage-lotlinks-12202013&tab=MyTrackedLots-101116

[GreatCaesarsGhost]

On 9/14/2023 at 5:39 PM, skypinkblu said:

I thought the Action 13 would go higher.

 

https://comics.ha.com/itm/golden-age-1938-1955-/superhero/action-comics-13-dc-1939-cgc-gd-25-cream-to-off-white-pages/a/7341-92002.s?ic2=mytracked-lotspage-lotlinks-12202013&tab=MyTrackedLots-101116

Agreed.  a quick search of Heritage archives tells the story.  Probably shoulda gone for $30k minimum

[RareHighGrade]

Several of the Promise books that were put on the block for resale sold for 30% or more below their prior sale prices.

[Professor K]

A few from the first half of today's stuff. Looks like the buy-in for a AC 1 with a cover is 400 large and 8 small. . 66K for Mad's Odd-Father art was strictly business, not personal. . Avengers 4 9.8 , little less than the last one 6 years ago. 

Nice looking 3.5 Bat 1 went for about the same as a 2.5 from just last March and 50k more than a 2.0 3 months back so this new owner should feel pretty good. The Detective 2 was a beauty. Tec 29 5.5 last one in that grade was in 2020 for 102k but it was a sweet copy. Guess the anchor stamps didn't help much. Should have marketed it as The Anchor Copy but I guess they didn't have the anchor stamp to go with it. I guess the Sup 1 went for about expected. 

Punch 12 highest graded. Did anyone expect it would top 200? Wow. I wonder if it was sold by the same people who got it for 2,500 21 years ago. 

 

Edited September 15, 2023 by Professor K
forgot Punch 12

[RareHighGrade]

On 9/14/2023 at 5:22 PM, Professor K said:

Tec 29 5.5 last one in that grade was in 2020 for 102k but it was a sweet copy. Guess the anchor stamps didn't help much. Should have marketed it as The Anchor Copy but I guess they didn't have the anchor stamp to go with it.

The Tec #29 was weighted down more by its slightly brittle pages than by its anchors.

[Professor K]

On 9/14/2023 at 8:31 PM, RareHighGrade said:

The Tec #29 was weighted down more by its slightly brittle pages than by its anchors.

Ah!  I see what you did there. Took me a minute. Fun with words, I love it.

[tth2]

On 9/15/2023 at 9:00 AM, RareHighGrade said:

Several of the Promise books that were put on the block for resale sold for 30% or more below their prior sale prices.

But some went for quite a bit more.

[lou_fine]

On 9/14/2023 at 7:42 PM, tth2 said:

On 9/14/2023 at 5:00 PM, RareHighGrade said:

Several of the Promise books that were put on the block for resale sold for 30% or more below their prior sale prices.

But some went for quite a bit more.

Even at negative 30% there would finally appear to be a hint of light at the end of this long darkened Promise tunnel, but if what you say is true and there's now more and more of them reselling for more, then the light is starting to shine much brighter as we are possibly coming much closer to the end of the long Promise tunnel.  

Edited September 15, 2023 by lou_fine

[lou_fine]

On 9/14/2023 at 2:08 PM, ThothAmon said:

On 9/14/2023 at 1:58 PM, lou_fine said:

we use to have an almost play by play

Uh, I think they all came from you?  So get on it!

Definitely not me and probably more for old time boardies like @G.A.tor and the likes as I the volume of quality offerings in Heritage's Signature Auctions would just be too daunting of a task for me.

As for CC's Event Auctions, that's a much easier and manageable task to analyze their auction results on the go in real time.  

Actually, with me now helping my better half to babysit 4 grandkids during the day, it really doesn't give me much time to spend on the boards here until much later in the night like about now.  But so much more fun and worth it all as I can always review the auction results after the fact.  

[Grendel72]

Must be some record for a coverless copy (coverless front, backside is intact) with brittle pages . 

 

[Mr.Illmannered]

I sold that Punch 12 privately two years ago for farrrrr less. Yikes.

[lou_fine]

On 9/14/2023 at 3:22 PM, GreatCaesarsGhost said:

The Bat 1s went low. 

 

On 9/14/2023 at 3:33 PM, Dark Knight said:

Yeah Bat 1's went for less than expected.

I would tend to agree with both of you that the CGC 3.5 copy selling for only $228K appears to be a tad on the low side.  Especially since Heritage was able to fetch $264K for an equivalent 3.5 graded copy back in September of 2022 and a whopping $222K for a lowly CGC 2.0 graded copy back in September of 2021.  Looks like CC also had similar stronger results in the recent past with a CGC 2.5 graded copy fetching a huge $270K back in March of 2022 and then followed by another CGC 2.5 graded copy selling for $215K in March of this year.  So, a definite downtrend showing up here in this condition range, but is it really that surprising considering the number of Bat 1's in this grade range that have shown up for auction in the past couple of years?    

As for the CGC 1.8 graded copy of Bat 1 selling for $138K along with another selling for $144K earlier this year in March, this just might be a bottoming out and hopefully for a trend back up as compared to the $126K sales for January of 2023 and the $114K sale back in June of this year for equivalent 1.8 grarded copies.  

[lou_fine]

On 9/14/2023 at 8:42 PM, Mr.Illmannered said:

I sold that Punch 12 privately two years ago for farrrrr less. Yikes.

Can you ask him for a do over and with his newly found pot of gold that he's now holding, he just might toss a few loose nuggets your way.    

[TheLexLuthorCollection]

On 9/14/2023 at 7:42 PM, tth2 said:

But some went for quite a bit more.

Agree.  Although it was a bit odd.  All the Promise Detective Comics took a bath ranging from 10-45%.  However, the Promise Action Comics had four issues that sold for more (including Action Comics #100 which previously sold for $12K but sold for $20.4K in this auction).  Four that saw little change, three that suffered about a 15% decline and four  issues that saw declines of 30% or more.  Not sure why the Detectives took a bigger hit than the Actions.  Perhaps, their previous prices were more inflated during the frenzy of 2021.  

[lou_fine]

On 9/14/2023 at 3:39 PM, skypinkblu said:

I thought the Action 13 would go higher.

https://comics.ha.com/itm/golden-age-1938-1955-/superhero/action-comics-13-dc-1939-cgc-gd-25-cream-to-off-white-pages/a/7341-92002.s?ic2=mytracked-lotspage-lotlinks-12202013&tab=MyTrackedLots-101116

I still remember back about 12 years ago when this was one of the super red hot books when it was sitting at only $30K in top of guide and had no problems being able to fetch multiples of condition guide for several years after that, even for restored PLOD copies.   

Once it started to approach the $200K mark in top of guide though (about 4 years ago) with more copies coming into the marketplace, it seem that the sentiment changed and now this former HTF book barely gets condition guide value in Universal unrestored grade.  

[tth2]

On 9/15/2023 at 11:42 AM, Mr.Illmannered said:

I sold that Punch 12 privately two years ago for farrrrr less. Yikes.

I can't remember the last time I did a private sale.  I'd be too afraid of being limited by own imagination.  It's so much better to let the crazies out there battle it out amongst themselves.  Sure, maybe an item here and there slips through the cracks and disappoints, but on the whole it turns out people were willing to pay a whole lot more than I could have ever expected.

[lou_fine]

On 9/14/2023 at 3:22 PM, GreatCaesarsGhost said:

The Punch book went for over $200k. 

 

On 9/14/2023 at 3:33 PM, Dark Knight said:

The Action 1 and Punch 12 stole the show with way above my expectations. I think the last time the Punch 12 Crowley sold for was $55k before this new sale.

 

On 9/14/2023 at 5:22 PM, Professor K said:

 Punch 12 highest graded. Did anyone expect it would top 200? Wow. I wonder if it was sold by the same people who got it for 2,500 21 years ago. 

What the heck is this Punch 12 that all of you guys are talking about as it looks to be a bad wanna be take on this great classic cover here:    

Seriously though, Wth a book like Punch 12 in "only" CGC 8.0 (albeit highest graded for now) going for over $200K, is this going to pave the way for other non-super classic cover books to hit and surpass this seemingly once thought to be impossible $200K threshold ceiling?  If so, what other non-super classic cover books might just be prepped to hit this threshold and this record shattering result? 

In addiition, it also makes me doubly wonder if there's also a Church copy of Punch 12 possibly out there somewhere (i.e. like the Church copy of Suspense 3) since it was also not listed in Chuck's Mile High Catalog.   

Edited September 15, 2023 by lou_fine

[Dark Knight]

I might be in the minority here, but I believe there is an ever nicer copy than the Punch 12 CGC 8.0 that sold. I wonder if there is a copy in BZ's collection? . If I had a lot of money to spend on a Punch 12, I definitely would not have gone that high of a bid. 

If a higher graded copy surfaces, that would literally kill the value of the Crowley copy I think. Too much risk for that price point. 

[lou_fine]

On 9/14/2023 at 10:24 PM, Dark Knight said:

I might be in the minority here, but I believe there is an ever nicer copy than the Punch 12 CGC 8.0 that sold. I wonder if there is a copy in BZ's collection? . If I had a lot of money to spend on a Punch 12, I definitely would not have gone that high of a bid. 

If a higher graded copy surfaces, that would literally kill the value of the Crowley copy I think. Too much risk for that price point. 

Personally, I don't think this will necessarily play out this way since we are not talking about the highest graded copy of an otherwise relatively easy to find book here.  Sure, we've seen the price for the highest graded copy of say an Iron Man 30 at something like $15K take a beating once other equivalent graded copies started to show up.  Likewise, I am sure that the same thing will also happen to the $44K that was paid for the highest graded copy of Transformers 1 back in 2021.  That's because the overwhelming portion of the money paid for relatively common books like these was basically all for that big number in the top left hand corner and much less so for the underlying book itself.  

The Punch 12, on the other hand like a lot of other in demand HTF GA books, carries real value across the entire condition spectrum and is much less dependent on that number in the top left hand corner of the slab.  With CC being able to fetch $71,300 last summer for their fifth highest and tied with 2 others at CGC 5.5 graded copy or over 7.5X condition guide value, is it really that surprising that Heritage would be able to get a big record number of $204K or 6.8X condition guide value) for their single highest graded copy of Punch 12, and an official pedigree copy to boot?  

When it comes to books like Punch 12 and the like where the majority of the value is derived from the underlying book itself as opposed to that number in the left hand corner, I think having other copies come out in equivalent grade or possibly even at higher grades will often not only reinforce the price paid for the first copy, but also help to propel them to even higher price points.  For example, do you really think the fact that they surprisingly managed to unearth the higher graded 9.2 Church copy of Suspense 3 and sold it for $262,900 has killed the value of Magik's former highest graded 9.0 Penn copy which sold for only $173,275 a few years earlier?  Or has the sale of the 9.6 graded copy of Phantom Lady 17 at a record high price point of $456K killed the value of the former highest graded (and actually nicer appearing) PL 9.4 graded copy of Phantom Lady 17 which sold for only $121K a few years prior?