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

[lou_fine]

On 4/4/2024 at 3:13 PM, twmjr1 said:

Amazing Man 22 2.0 @$43,200!!!

You must mean this nicely presenting CGC 2.0 graded copy of this rather HTF beauty here:  

On 4/4/2024 at 10:36 AM, comicjack said:

Hit the 40k mark today not to bad

 

I actually thought Jon Berk's 7.0 graded copy was right up there when it first sold for $38,500 at CC back in the summer of 2017.  Shows what little I know as it then was resold at CC as a CGC 7.5 graded copy for  just over $54K in 2019 before being resold a third time for $69K a few years later in 2022. 

Any bets that the current owner of the second highest graded 7.5 Berk copy along with the owner of the single highest graded CGC 9.0 copy of this book must be simply ecstatic with the sale of this much lower 2.0 graded copy for a rather whopping $43,200.    

Unlike highest graded copies of more recent books where the appearance of other copies in similar or even higher grade can "kill" the value of your book, it's nice when copies in even lower grade condition not only reinforces the price which you had paid for the book, but in fact continues to push the book's valuation up even higher.  

Edited April 5 by lou_fine

[tth2]

On 4/5/2024 at 4:04 AM, LordRahl said:

On 4/5/2024 at 3:45 AM, GreatCaesarsGhost said:

Right. They’re still good prices for anyone who bought prepandemic 

I wish people would stop comparing pricing today to pandemic pricing. There were a lot of irrational decisions being made during the pandemic, pricing being only one of them. I paid $5K OVER msrp for my car during the pandemic. People locked themselves away from loved ones. People moved away from jobs and are now in a position where they either need to move again or not work. It was silly times and not remotely indicative of real life. 

Nonetheless, the prices were paid and are a matter of public record, thus are going to be the benchmark regardless of how irrational they might've been.  They can act as a mythical benchmark for prices to strive towards over the next couple of decades, just like how the Dotcom Bubble peak prices of many tech stocks set a benchmark for many years (and some have still never returned to those levels). 

[tth2]

On 4/5/2024 at 2:16 AM, buttock said:

On 4/5/2024 at 2:14 AM, szav said:

Yeah but it’s legend now.  1.2 mil down the drain.

Well, he has the bragging rights for the amazing loss, so not entirely down the drain. 

"Hey baby, I'm so rich I could (and did) set $1.2m on fire!"

[tth2]

On 4/5/2024 at 1:48 AM, buttock said:

Low grade Bat 1/Cap 1 seem to perform more like SA keys since they are routinely available.  They're more like an asset than a collectible.  

What about the fact that the multiple between a 3.0 and 9.2 Cap 1 is now less than 5X?

The 9.2 Cap 1 went for $750k while the 3.0 Cap 1 went for $156k.  As you rightly point out, Cap 1s are (along with Bat 1) the most commonly available GA mega-keys, so it's surprising to me that the price differential is so small.

Did the 9.2 Cap 1 go for too little, the 3.0 Cap 1 for too much, or both, or do people think they both went for about the right price?

[GreatCaesarsGhost]

On 4/5/2024 at 12:49 AM, szav said:

That 3.0 presented exceptionally well for the grade, pretty clean looking with pretty solid colors too.  Most of the defects were well obscured spine splits and tape on the interior.  I think any other 3.0 goes for way less right now.

You are right about the eye appeal, but I thought the tape might act as a deterrent 

[buttock]

On 4/4/2024 at 11:39 PM, tth2 said:

What about the fact that the multiple between a 3.0 and 9.2 Cap 1 is now less than 5X?

The 9.2 Cap 1 went for $750k while the 3.0 Cap 1 went for $156k.  As you rightly point out, Cap 1s are (along with Bat 1) the most commonly available GA mega-keys, so it's surprising to me that the price differential is so small.

Did the 9.2 Cap 1 go for too little, the 3.0 Cap 1 for too much, or both, or do people think they both went for about the right price?

I think the market for books over ~$200k is pretty thin.  There have been several HG Cap 1s, including this retread, offered lately.  So when they come out in relatively short time the hammer is more unpredictable. At least that is probably part of it IMO. But just thinking about it, I could scratch up $156K without it causing too much pain.  I couldn't do $750k without a lot of work and sacrifice.  And I'm a high earner.  

[tth2]

On 4/5/2024 at 9:47 PM, buttock said:

I think the market for books over ~$200k is pretty thin.  There have been several HG Cap 1s, including this retread, offered lately.  So when they come out in relatively short time the hammer is more unpredictable. At least that is probably part of it IMO. But just thinking about it, I could scratch up $156K without it causing too much pain.  I couldn't do $750k without a lot of work and sacrifice.  And I'm a high earner.  

Sure, I get that, but there's still a valuation component that has to be factored in.  If one can get a 9.2 for $750k, then one should be able to get a whole lot more book for $156k than just a 3.0.

[tth2]

On 4/5/2024 at 1:49 PM, szav said:

On 4/5/2024 at 1:39 PM, tth2 said:

Did the 9.2 Cap 1 go for too little, the 3.0 Cap 1 for too much, or both, or do people think they both went for about the right price?

That 3.0 presented exceptionally well for the grade, pretty clean looking with pretty solid colors too.  Most of the defects were well obscured spine splits and tape on the interior.  I think any other 3.0 goes for way less right now.

The thing about paying up for a book that presents better than its grade is the risk that when it comes time to sell, the market response is "Yeah, it looks better than a X.X, but the label says X.X, so the price we're willing to pay is a X.X price". 

[buttock]

On 4/5/2024 at 9:29 AM, tth2 said:

Sure, I get that, but there's still a valuation component that has to be factored in.  If one can get a 9.2 for $750k, then one should be able to get a whole lot more book for $156k than just a 3.0.

Tim, Overstreet guide is $715K, so it sold for exactly what it should have.  

The 9.2 is a weird book  because there are 3 9.2s, 2 9.4s, and a 9.8.  So it's not going to a BSD who wants it to have the highest graded, and I'm convinced there are people who bid on HA with little to no collecting knowledge but are just told by the house to buy anything in 9.4 or better.  So there's not a whole lot of cache' to having a 9.2, even though it's great.  So why pay up.  The SF 9.4 broke $3M, so even the prior sale of this 9.2 was pretty weak by comparison.  

Not arguing, just thinking out loud.  

[tth2]

On 4/5/2024 at 11:34 PM, buttock said:

Overstreet guide is $715K

Did Lou_Fine hack your account?

On 4/5/2024 at 11:34 PM, buttock said:

The 9.2 is a weird book  because there are 3 9.2s, 2 9.4s, and a 9.8.  So it's not going to a BSD who wants it to have the highest graded, and I'm convinced there are people who bid on HA with little to no collecting knowledge but are just told by the house to buy anything in 9.4 or better.  So there's not a whole lot of cache' to having a 9.2, even though it's great.  So why pay up.  The SF 9.4 broke $3M, so even the prior sale of this 9.2 was pretty weak by comparison.  

Not arguing, just thinking out loud.

Yeah, I just tend to think of prices in terms of how they relate to each other.

So if a 9.2 sells for $750k and a 3.0 sells for $156k, then in my mind at least one of the buyers should be upset, and maybe even both!   

[buttock]

On 4/5/2024 at 9:50 AM, tth2 said:

Did Lou_Fine hack your account?

Yeah, I just tend to think of prices in terms of how they relate to each other.

So if a 9.2 sells for $750k and a 3.0 sells for $156k, then in my mind at least one of the buyers should be upset, and maybe even both!   

Why bother yourself with such low-grade drek?

[tth2]

On 4/6/2024 at 12:01 AM, buttock said:

Why bother yourself with such low-grade drek?

I wouldn't, but I'm trying some empathy exercises my therapist gave me.

[GreatCaesarsGhost]

On 4/5/2024 at 11:07 AM, tth2 said:

I wouldn't, but I'm trying some empathy exercises my therapist gave me.

Let’s get a rope

[Subliminal]

On 4/4/2024 at 6:41 PM, Terry JSA said:

- Classic Matt Baker (Debated)

- Good Girl Cover

I only see this book going up.

 

Its a GREAT addition to any man's post-nuclear bunker 

[woowoo]

On 4/4/2024 at 9:11 AM, lhcomics said:

My goal this year is to complete my Batman 2-10 run. I wish my goal for this was last September when this #2 sold for $15,600. I just bid $20,040 and got immediately shot down. 

Batman 2 CGC 6.5

Batman #2 (DC, 1940) CGC Conserved FN/VF 7.0 Cream to off-white | LotID #100001 | Heritage Auctions (ha.com)

[Aman619]

On 4/5/2024 at 1:39 AM, tth2 said:

Did the 9.2 Cap 1 go for too little, the 3.0 Cap 1 for too much, or both, or do people think they both went for about the right price?

Both!

[tth2]

On 4/6/2024 at 8:58 AM, Aman619 said:

On 4/5/2024 at 1:39 PM, tth2 said:

Did the 9.2 Cap 1 go for too little, the 3.0 Cap 1 for too much, or both, or do people think they both went for about the right price?

Both!

That's my initial feeling too, and that's even without knowing anything about 3.0 prices.

[adamstrange]

On 4/6/2024 at 10:18 AM, tth2 said:

That's my initial feeling too, and that's even without knowing anything about 3.0 prices.

For "must have" books, there's often an increased price for the entry level copy because people will take anything.  So, when an attractive 3.0 comes along it will garner outsized attention compared to a 3.0 of a random issue in the run.

[Dr. Love]

I'm stupified.  Great grade, Saunders, but but but

[Dark Knight]

I had the Cap 1 CGC 3.0 valued at $120k max. Book sold aggressively considering there is tape in the interior pages. And you know how tape does overtime affecting the pages...