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

7,891 posts in this topic

tth2

tth2

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On 1/12/2024 at 3:53 AM, MrBedrock said:

But some of the health of the hobby is based on the trickle down spending of these new nose-bleed level collectors. If they are getting hammered then that money goes elsewhere and prices up and down the board will be affected. The particular buyer who consigned these books didn't fare well at all and probably won't be back.

The history of this hobby, for as long as I can remember, has been one of new deep-pocketed collectors getting their faces ripped off. 

Was this particular buyer steered towards their big ticket purchases by a particular dealer famed for being the dealer to the stars? 

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tth2

tth2

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On 1/12/2024 at 5:23 AM, batman_fan said:
On 1/12/2024 at 4:40 AM, 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.

Which raises the question whether this seller was also selling so quickly because of financial duress.

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Silver Surfer

Silver Surfer

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On 1/12/2024 at 1:12 AM, tth2 said:

So did the owner.  It would be amusing if the seller was also the same person selling all the Promises.

That did cross my mind too but why sell so quickly unless it’s only the thrill of the chase that drives them most?

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TheLexLuthorCollection

TheLexLuthorCollection

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On 1/12/2024 at 5:51 AM, Silver Surfer said:

That did cross my mind too but why sell so quickly unless it’s only the thrill of the chase that drives them most?

My guess is that it was a different person.  Many of the Promise Books that recently came back for re-auction were DC Books.  With the exception of the grail books like Superman #1 and All Star 8, the Golden Age DC's in the current auction are largely mid-Grade or less.  Folks who buy 9.0+ graded books like the Promise Collection would not have mid-grades in their collection to sell.

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tth2

tth2

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On 1/12/2024 at 11:55 PM, Silver Surfer said:

Apparently the consigned of the Showcase #4 had acquired it only a few months earlier. I believe he owned the B&B # 28 too and unfortunately took a bath on the resale. If I had to guess he probably bought a lot of books not just uber high grades.

Maybe he thought he had gotten a steal in the private deal and wanted to quickly get one over on the seller by putting the books out to public auction. 

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MrBedrock

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On 1/12/2024 at 12:12 PM, ThothAmon said:

Those of us in the know call it the “catbird” seat. 
 

IMG_2553.jpeg

Been there...

 

luckysbighead.jpg

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MrBedrock

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On 1/12/2024 at 1:11 PM, Aman619 said:

why does this remind me of the Alf cover with the seal!!??

Everything reminds you of the Alf cover with the seal.

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tth2

tth2

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The thing about well-heeled newbies coming into comics these days is that the hobby ain't cheap anymore.  I can understand why Perrino came in with guns blazing, because comics were indeed cheap compared to other collectibles back then, particularly coins, the collectible he was most familiar with.  After seeing coins' upward trajectory after slabbing was introduced in that hobby, he could see the opportunity for profit in comics as they experienced the same trend.  But for whatever reasons, he bailed too quickly to see his predictions come true.

But these days, comics are really expensive compared to other collectibles.  For example, while the most expensive baseball cards have gone for more than the most expensive comics, that's only because the very best cards have come to market while the very best comics have not.  On the other hand, while I'm not an expert on sports cards at all, I get the impression that the average comic goes for more than its comparable card counterpart, particularly after the recent post-Covid meltdown in card prices, which have been much more dramatic than the post-Covid decline in comic prices.

If the intention of some of these newbies was to capitalize on an undervalued asset, comics weren't them.  

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