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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

MrBedrock

MrBedrock

Posted
Posted
On 1/11/2024 at 2:31 PM, adamstrange said:

How long did the "collector" hold the books? 

If the hobby is dependent on people buying and shortly after that flipping for more, I don't think that necessarily makes for long term health.

That's a very valid point. My impression is that he had been dabbling for a few years, but went nuts spending in the last twelve months. It is surprising that he flipped stuff so quickly, but my assumption is that he felt he would at least get close to his purchase price. On a couple of these I think he got pretty well hammered. A big investor will understand certain losses, but the losses taken here might leave a very bad taste.

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adamstrange

adamstrange

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Posted
On 1/11/2024 at 3:40 PM, MrBedrock said:

That's a very valid point. My impression is that he had been dabbling for a few years, but went nuts spending in the last twelve months. It is surprising that he flipped stuff so quickly, but my assumption is that he felt he would at least get close to his purchase price. On a couple of these I think he got pretty well hammered. A big investor will understand certain losses, but the losses taken here might leave a very bad taste.

I don't wish him ill, but anyone spending that kind of money on a collectible and who had expectations for a quick sell, should be aware there's a risk.  This is especially true with an infrequently traded item that was sold via private treaty. 

With grading and GPA, I think it's pretty easy to understand the risk, so I hope this person is more careful in other financial matters.

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batman_fan

batman_fan

Posted
Posted
On 1/11/2024 at 1:40 PM, MrBedrock said:

That's a very valid point. My impression is that he had been dabbling for a few years, but went nuts spending in the last twelve months. It is surprising that he flipped stuff so quickly, but my assumption is that he felt he would at least get close to his purchase price. On a couple of these I think he got pretty well hammered. A big investor will understand certain losses, but the losses taken here might leave a very bad taste.

I remember the Gary Keller collection on HA which I thought was a somewhat similar situation.

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adamstrange

adamstrange

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On 1/11/2024 at 4:23 PM, batman_fan said:

I remember the Gary Keller collection on HA which I thought was a somewhat similar situation.

With respect to Keller, he bought at auction where you are hopeful that underbidders will be still be around when the books come up a couple years later.

His timing was bad, selling during a severe economic downturn, so, again, a factor that I would hope would be understood by a buyer who spent millions and would have dampened expectations.

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batman_fan

batman_fan

Posted
Posted
On 1/11/2024 at 2:34 PM, adamstrange said:

With respect to Keller, he bought at auction where you are hopeful that underbidders will be still be around when the books come up a couple years later.

His timing was bad, selling during a severe economic downturn, so, again, a factor that I would hope would be understood by a buyer who spent millions and would have dampened expectations.

Is he completely out of comics?

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adamstrange

adamstrange

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On 1/11/2024 at 4:37 PM, batman_fan said:

Is he completely out of comics?

That's not a question I have any info about.

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TheLexLuthorCollection

TheLexLuthorCollection

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On 1/11/2024 at 12:08 PM, MrBedrock said:

The Promise Action 136 sold for a profit!

I noticed that the book was recently listed on Steve Ritter's  Worldwide Comics website.  In April 2022, the book was acquired for $3120 at HA.  At the time, the book graded at 9.2.  It looks like the book was pressed and re-graded to 9.4.  For the current HA auction, the seller (Steve?)  sold it for $4200.  Of course, there is the  seller's premium and press and grading charges.  Still a tidy profit.  

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buttock

buttock

Posted
Posted
On 1/11/2024 at 1:31 PM, adamstrange said:

How long did the "collector" hold the books? 

If the hobby is dependent on people buying and shortly after that flipping for more, I don't think that necessarily makes for long term health.

Agreed, and it is also a function of how reasonable the price paid was.  The SC 4 was a huge disappointment when it sold first time around (Goldman told me that he was offered much more than it auctioned for), but this sale is over 3 times that price.  Had you asked me what I thought it would sell for I would have taken the under on $900k.  So the guy who paid $1.5M overpaid, and absent that sale the book did well at auction.  If nobody knew that it had sold privately for $1.5M, then I think we'd all be impressed with what it brought today.  

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MrBedrock

MrBedrock

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  • Popular Post
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Auctioneer - "Be the first to $10,000. You want to be the first to $10,000 before the increments increase! ...

....and sold for $4500!"

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tth2

tth2

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On 1/11/2024 at 5:56 AM, MrBedrock said:
On 1/11/2024 at 3:18 AM, Professor K said:

Yep. Past 12 hours things are starting happen. One bump bids like people dipping their toes in the water to check the temperature. Oh there will be bidding wars, let's not doubt that. Gonna be a fun auction for the spectators, just like Kin-Tucky Derby Day. Personally I'm rooting for the Showcase 4 to top 1,000,000.00

It needs to top $1.5mil + to not be a loss.

:whatthe:

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tth2

tth2

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Posted (edited)
On 1/12/2024 at 3:41 AM, MrBedrock said:
On 1/12/2024 at 3:38 AM, szav said:

Amazing results on all the big books so far.

Really? I guess it depends on perspective. Most of these big books previously changed hands privately and I think money has been lost on most of them.

That just means someone way overpaid in a private deal.  Compared to the last public sale of some of these books, they did very well.

Edited by tth2
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tth2

tth2

Posted
Posted (edited)
On 1/12/2024 at 3:48 AM, LDarkseid1 said:

Wow, the 1st Tarzan App. pulp hammering at $264K. Seems solid.

Especially considering that CGC has reportedly graded another copy that received a blue label and significantly higher grade.

Edited by tth2
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