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

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Crowzilla

Crowzilla

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On 6/20/2024 at 3:46 PM, BLUECHIPCOLLECTIBLES said:

Below guide by about 3K or less than one-half of one percent (if my bio calculator is working probably).  So, basically guide. 

I get about 15K below guide (or 2%), but regardless, when was the last time you remember a(n unrestored) Tec27 selling below or at guide? Two decades maybe? Isn't this one of the books that the Overstreet is usually filled with ads from dealers proclaiming how they will pay 100% of guide or more for copies?

 

On 6/20/2024 at 4:48 PM, MrBedrock said:

It's shocking that anyone even wants those books.

I wonder what is more rare - comic book stories written solely by Stan Lee, or comic art drawn solely by Bob Kane?

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Crowzilla

Crowzilla

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On 6/20/2024 at 5:17 PM, Dark Knight said:

The Tec 27 CGC 4.5 that sold at $675k was around the estimate I placed for that book. 

When that book sold for $1.2 mil. in 2022, I personally thought that was a crazy price 

A 3.0 brittle sells for $600K two months ago, so you thought 12.5% more for 1.5 grades higher and non-brittle seemed right? I thought the consensus was $200K per point at this range.

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Dark Knight

Dark Knight

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On 6/20/2024 at 2:36 PM, Crowzilla said:

A 3.0 brittle sells for $600K two months ago, so you thought 12.5% more for 1.5 grades higher and non-brittle seemed right? I thought the consensus was $200K per point at this range.

My estimate for the 4.5 copy was between $600k-$800k at that time, so a little less than $200k per point primarily because this particular 4.5 isn't a good looking copy and the somewhat poor page quality didn't help either.

Where did the 3.0 brittle sell at? I think that's a bit high..

 

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CentaurMan

CentaurMan

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On 6/20/2024 at 5:04 PM, BLUECHIPCOLLECTIBLES said:

If so, that's a whole other issue.  

With the biggest books being investments if only because of their cost, it begs the question of the relevance of a guide that does not give current values but instead prints them once a year.  Would it impact the sales of some stocks if you were looking to buy, say, Nividia, and you knew there was a book in print which stated its value 11 months ago?

 

 

The difference is that equities represent ownership stakes in businesses which produce cash flow, and that cash flow can change over time (mostly grow, over longer time periods).  Same with real estate, same with bonds, etc., so there are formulas for estimating the value of those assets depending on the prevailing interest rate environment, forecasted macro factors, etc.  There’s clear record of what people were willing to pay for Nvidia 11 months ago, or any time period ago, in the stock charts/histories.

Collectibles of all types (artwork, coins, baseball cards, NFTs, etc.) are essentially only worth what people are willing to pay for them, and thus a book/record citing those values is especially relevant, as you can’t value them based on their intrinsic cash flows (there are none).  It helps to always have some sense for the market’s opinion of those assets.

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Dark Knight

Dark Knight

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On 6/20/2024 at 2:49 PM, Silver Surfer said:

$90K for the More Fun #52. Maybe the rarest DC GA key in unrestored condition?

My estimate for that book was $100k. Close enough 😆. Yeah I believe it is the rarest GA unrestored key out of the top 20 books. I haven't checked the census though recently to compare to other books.

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adamstrange

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On 6/20/2024 at 4:31 PM, CentaurMan said:

I sold 8 books today, my first ever live auction Heritage sales.  1 did WAY better than I expected, 1 WAY worse, 3 in line, and 3 stronger than my forecast (but not insanely so).  In aggregate my net results were about 22% higher than the total I predicted yesterday before the auction started.  Ain’t gonna lie, not sure I enjoyed seeing the live auctioneer try to drum up money for my consignments, despite the outcome.  I think I prefer the experience of just logging in later and seeing the results.

Can you share what went "way worse"?  Was it one that you thought had the best chance to be the worst?

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Crowzilla

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On 6/20/2024 at 5:49 PM, Silver Surfer said:

$90K for the More Fun #52. Maybe the rarest DC GA key in unrestored condition?

Detective #1? New Fun #1? New Comics #1?  not sure if any of those qualify as keys though

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CentaurMan

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On 6/20/2024 at 6:11 PM, adamstrange said:

Can you share what went "way worse"?  Was it one that you thought had the best chance to be the worst?

No, by definition the one I thought had the best chance to be the worst (King Comics #1) had the least amount of room to fall short of my expectations.  The WAY worse one was one I didn’t see coming.

I had high expectations for the Mile High Air Fighters, but it never got going.  I’ve never sent a book to CGC before, but Heritage did before the auction and the 7.5 killed it.  I was thinking it was a $15k book and it went for 1/3rd of that.

On the flip side, I had bought that Mile High National 7 during the financial crisis for around $8k, and was hoping it would go for $30-35k.  $65k floored me.  So the two books combined exceeded my expectations, but not in an enjoyable way.  I’d rather have just gotten a combined $70k.

They say that winning money creates about 1/3rd the positive reaction, emotionally, than losing money subtracts (thus most people’s risk-aversion).  I’m logically very happy with how the day went but am bummed about the Air Fighters specifically.

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Kevin76

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On 6/20/2024 at 5:17 PM, Dark Knight said:

The Tec 27 CGC 4.5 that sold at $675k was around the estimate I placed for that book. 

When that book sold for $1.2 mil. in 2022, I personally thought that was a crazy price 

The PQ didn't help  

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LDarkseid1

LDarkseid1

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Posted (edited)
On 6/20/2024 at 3:36 PM, CentaurMan said:

No, by definition the one I thought had the best chance to be the worst (King Comics #1) had the least amount of room to fall short of my expectations.  The WAY worse one was one I didn’t see coming.

I had high expectations for the Mile High Air Fighters, but it never got going.  I’ve never sent a book to CGC before, but Heritage did before the auction and the 7.5 killed it.  I was thinking it was a $15k book and it went for 1/3rd of that.

On the flip side, I had bought that Mile High National 7 during the financial crisis for around $8k, and was hoping it would go for $30-35k.  $65k floored me.  So the two books combined exceeded my expectations, but not in an enjoyable way.  I’d rather have just gotten a combined $70k.

They say that winning money creates about 1/3rd the positive reaction, emotionally, than losing money subtracts (thus most people’s risk-aversion).  I’m logically very happy with how the day went but am bummed about the Air Fighters specifically.

The 1929 financial crisis? :bigsmile:

Edited by LDarkseid1
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adamstrange

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On 6/20/2024 at 6:36 PM, CentaurMan said:

No, by definition the one I thought had the best chance to be the worst (King Comics #1) had the least amount of room to fall short of my expectations.  The WAY worse one was one I didn’t see coming.

I had high expectations for the Mile High Air Fighters, but it never got going.  I’ve never sent a book to CGC before, but Heritage did before the auction and the 7.5 killed it.  I was thinking it was a $15k book and it went for 1/3rd of that.

On the flip side, I had bought that Mile High National 7 during the financial crisis for around $8k, and was hoping it would go for $30-35k.  $65k floored me.  So the two books combined exceeded my expectations, but not in an enjoyable way.  I’d rather have just gotten a combined $70k.

They say that winning money creates about 1/3rd the positive reaction, emotionally, than losing money subtracts (thus most people’s risk-aversion).  I’m logically very happy with how the day went but am bummed about the Air Fighters specifically.

Thank you for sharing your take.

That Air Fighters was a bargain, and I would have done my part to prevent that except for my job interfering with my collecting responsibilities.

Peter David, TV producer and original art collector, had a similar experience as you.  Very satisfied overall, but deeply disappointed because a couple fell below expectations.  He couldn't be content with winning the war when he a lost a couple battles along the way. 

Humans are more sensitive to loss than to good wins.

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comicjack

comicjack

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Posted
On 6/20/2024 at 3:44 PM, batman_fan said:

That one seemed strong but not sure what others have sold for recently (assuming others have sold recently)

 

On 6/20/2024 at 3:37 PM, pmpknface said:

image.thumb.png.5d3777e68f319496bb5fd00e7c9edabb.png

Seem to be about right if you want a copy (thumbsu

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