Paying 2X Guide...Advice?

[GreatEscape]

 

I'm considering paying 2X guide for a Golden Age book...very tempting, but I find myself holding back. Here are some specifics:

 

(a) CGC graded...mid-grade (Unrestored 5.5) but #4 in census

(b) Relatively scarce (1 of 7 copies)...have only seen 2 copies in 5 yrs.

© Major title non-key, but "Classic cover"

(d) $1800 price vs. $900 guide

(e) No GPA info except for typical investment grade (3-4X guide) multiples

 

I've seen highly coveted books (ie, Detective 31, Phantom Lady 17) in mid-grade sell for big premiums but still under 2X guide...while Teenage Romances #9 raw on eBay now pressing 2-3X guide.

 

Let me ask the forum: When do you pay 2X guide for mid-grade? Should I pull the trigger on my book...and will I regret it later?

 

Thanks for the advice!!!

[skybolt]

Good question. The only time I pay 2X guide for a mid grade GA book is when I've exhausted all other sources for purchasing the book. If I want the book that badly, then I'll pay 2 times and sometimes even 3 or 4 times guide, if I feel the book is way undervalued. However, without knowing what book you're going after, it's a little difficult to make that judgment call.

[nearmint]

It's really hard without knowing the book. My instinct is that double guide for a 5.5 is high.

[Aman619]

Action #2??

[rjpb]

I have to agree that therre are too many variables to hazzard a guess without knowing the specific book. While the guide has caught up, or nearly caught up, with alot of "classic covers", there are still many that are undervalued in overstreet - even in mid-grade. My sense is that if the book guides for $900 in 6.0 ( or 5.5- not sure if you adjusted) already - than it better be pretty special to be worth twice that, but there are still books in that price range which would be a steal at twice guide ( like Captain America #46 - which lists for $714 in 6.0), whereas another classic book from the same publisher with high demand, like Human Torch #12, might be just a bit pricey at twice guide for a mid-grade, although not outrageously so.

[143ksk]

I agree with everybody above. For me, the most important thing is you really want the book and you've only seen 2 copies in 5 years. That would make me lean towards saying you should buy it. Many of my grail books are multiples of guide books in 5.5 (and tough to find at that) so I can certainly sympathize. That's about the best I can do without knowing the specific book.

[GreatEscape]

 

Thanks for your helpful thoughts/insights!!! More info on the book:

 

More Fun #56 CGC 5.5 Spectre cover from Metropolis-- asking $1800. Love the book and offered $1700, but "no room on consignment book!". After three above 9.0, this is the highest. My sense is 2X is over-the-top retail, but if I pass, I may not see one for sale for a long time.

 

Thanks to Skybolt for some great insight: "According to the GPAnalysis, the only existing 5.5 CGC graded copy sold for $1,352 in January 2004. Therefore, the the person who purchased it at that time is likely consigning it to Metro. Since Metro will receive 10% in consigning fees, the person would make about $250 on his investment with your $1700 offer. I just don't see the person relinquishing that book for that small a profit. Expecially, if no better copies exist until you get to 9.0."

 

Will I regret paying up...or regret not buying the book when I had the chance?

 

Grateful for the advice...

[GreatEscape]

 

Sorry....More Fun 65

 

HERE"S THE LINK:

 

http://pages.metropoliscomics.com/365/PictPage/1922249096.html

[143ksk]

If it's a book you really want and if you're willing to pay $1700 on it I would bite the bullet and add the extra $100 and buy it. In the grand scheme of things $100 just isn't very much. In 30 years of collecting I have never regretted paying over guide for a GA hero book.

[buttock]

Sounds like way too much for a MF 56. Just my opinion, but another will come along. It's not that rare. I'd say 1.4-1.5X guide tops.

[action1kid]

for me personally, for me to pay 2 times guide it is going to have to be historically very significant or its grade would have to be high and unrestored... .

for example,i would pay 2 times guide for a 6.0 superman #1 unrestored only..

in your case rarity comes into the picture..,

for golden age unrestored...,5.5 is really high grade FOR GOLDEN AGE BOOKS .and more funs in the 50 to 59 issue range are highly sought after ,,so i would not let 100 dollars stop you,for gods sake buy it..if youre a true collector youre gonna hold it for 10 years or so,,dont you think with that time frame you will get youre money back? OF COURSE YOU WILL and more,even factoring inflation in,,so buy the thing,you will see im right!

[rjpb]

I'd say it comes down to how bad you want it - does it fill the final hole in a run? Is it The Spectre cover you've always wanted? My guess is that if you decide to resell it in the short run you might take a loss, but if you've been looking a long time and 5.5 is the lowest grade you would ever consider, and don't mind overpaying by 20 or 30% then go ahead.

 

I don't know how deep your pockets are. I might pay $180 for a book that I think shouldn't run anymore than $150 tops, just because I'm tired of looking, and if a cheaper copy shows up a few months later, I won't be hurting. Whereas I so rarely buy a book for anything over $1K that I would be reluctant to pay more than FMV for a comic that expensive.

[action1kid]

i might add, if this book is slabbed it would ba all the more appealing,is it slabbed?

blue label,no notes under grade?

[GreatEscape]

 

Action1kid: Yes, the book is slabbed, new blue label, no notes....everything I could want (except a cheaper price tag).

 

143ksk: I agree with your philosophy and YES it is a book I want....but I can get 2 other books on my want list for the same money. You're right about $100 not getting in the way, so...

 

Based on everyone's input, I've put a deposit on the book and will see it at the Chicago WizWorld. If I see the book and my fingers won't let go, then I'll buy it. However, if it seems, "nice, but not worth $500-in-the-hole" then I'll pass.

 

Thanks again everyone...your guidance is priceless.

 

- GE

[whomerjay]

Personally, I have too many wants and there are too many bargains out there to ever overpay for a particular book. I'd much rather pass and retain the thrill of the hunt.

[Apotheosis]

But if he's only seen a couple of copies in 5 years than the thrill of the hunt gets passed over for the thrill of just finding the d@mn thing... Another 5 years and the price will only go higher. I paid multiples for my lower mid grade Wings 91 because they just NEVER go for anywhere near guide... even on eBay. Sometimes you just have to bite the bullet and do it.

[nearmint]

It's a GREAT cover.

 

But wouldn't you rather have the Church copy for 35K?

[whomerjay]

But if he's only seen a couple of copies in 5 years than the thrill of the hunt gets passed over for the thrill of just finding the d@mn thing... Another 5 years and the price will only go higher. I paid multiples for my lower mid grade Wings 91 because they just NEVER go for anywhere near guide... even on eBay. Sometimes you just have to bite the bullet and do it.

 

I agree if "guide" is simply wrong, and the book truly surfaces only once in a blue moon. Then you're not really overpaying.

[esquirecomics]

More Fun #65 is definitely a classic book. Fantastic Spectre cover. I own a CGC 9.0 copy, and I did pay multiple guide for it ($10k I believe). Of course, there is a big difference between a 5.5 and a 9.0. Not sure I would pay 2x guide for a 5.5.

 

Given the book, and the "rarity", I would probably pay 1.5x. However, if I needed the book for my collection (and not for investment), and didn't see it that often - and I don't see this book very often - and I had the extra cash, the asking price is not that high (as a dollar amount) that I would flinch at spending a few extra hundred dollars.

[Apotheosis]

It's a GREAT cover.

 

But wouldn't you rather have the Church copy for 35K?

 

For the Wings 91?