When will the next unrestored Tec #27 come to auction? 6 6

[LDarkseid1]

2 minutes ago, sfcityduck said:

My apologies for saying you were getting "touchy."  But, i think you have misread my posts.  I think your view that the book will top $1M is going to be vindicated.  I don't think that's a surprising result given the D27 price history.  But, I also don't think the previously stated opinions that the buying pool may not be deep enough to support a $1M price were unreasonable.  They were a next level analysis that might have support from knowledge that is unknown to you and I. An analysis that takes into account the depth of buying pool is more sophisticated than the "look at the past prices" analysis I'm relying upon.  Elsewhere on this site, Gator has been suggesting the "depth of the pool" analysis is the best analysis for predicting the price of the Whiz 2 (my guess is far higher than his).  In any event, there's no prize or stakes or boasting rights in this "contest"  as to how much this book will sell for.   Just conversation that can make us all a bit smarter if we listen.

Yeah good points.

[Mmehdy]

14 hours ago, Northwest said:

Auctions create visibility and a competitive dynamic, which fixed price books could benefit from. While inflation is not a concern among consumers, the story is different among certain investors aware of the risks to the dollar from monetary policy. 

Agree 100%, I wonder if the buyer will be an investor or true comic book collector?

[Mr bla bla]

The incredible scarcity of available inventory in the tec 27 market considered, the art is getting in while the buying pool is fairly limited. Once that pool broadens, the pricetag changes.

In the 1930ies you could buy Picasso OA in Paris for 2000$. Today? 600 M for the center  pieces😂

Take that to the bank.

[LDarkseid1]

10 minutes ago, Mr bla bla said:

The incredible scarcity of available inventory in the tec 27 market considered, the art is getting in while the buying pool is fairly limited. Once that pool broadens, the pricetag changes.

In the 1930ies you could buy Picasso OA in Paris for 2000$. Today? 600 M for the center  pieces😂

Take that to the bank.

Fine art is insane! Sells for sooo much.

[sfcityduck]

6 minutes ago, LDarkseid1 said:

Fine art is insane! Sells for sooo much.

It is laddered up by market making dealers who cater to a very rich and deep pool of sellers.  Essentially, Metro and HA has served that function for comics, it is just the pool is vastly shallower.  Although worth noting that the big leaps in prices for comics came from a Lebanese buyer, and I doubt that we'll see any similar Lebanese buyers in the future.

Edited November 4, 2020 by sfcityduck

[Professor K]

On 10/20/2020 at 11:16 PM, Professor Chaos said:

Me too. I think it will end between ONE MILLION DOLLARS! and a little over 1.1 million.  To quote Number Two some 20 years ago - "A million dollars isn't exactly a lot of money these days". There are a lot of very very rich people out there and I think at least two of them will be willing to dish out at least a million on this one especially considering how rare one of this grade comes around. 

You forgot me on your list LDarkseid1. Sorry if I'm being "too touchy".  Question for the pro's and semi pro's: The bidding right now is 812,500 with a buyer premium making it 975,000. According to my calculations 812,500 is 83.3% of 975,000. So does the mean owner/seller will be paying Heritage a 16.7% commision?

 

Edited November 4, 2020 by Professor Chaos

[LDarkseid1]

6 minutes ago, Professor Chaos said:

You forgot me on your list LDarkseid1. Sorry if I'm being "too touchy". 

Sorry sorry, I’m not perfect lol.

[sfcityduck]

22 minutes ago, Professor Chaos said:

You forgot me on your list LDarkseid1. Sorry if I'm being "too touchy".  Question for the pro's and semi pro's: The bidding right now is 812,500 with a buyer premium making it 975,000. According to my calculations 812,500 is 83.3% of 975,000. So does the mean owner/seller will be paying Heritage a 16.7% commision?

 

As a practical matter: Yes.  As a matter of actually making a payment to Heritage or owing taxes on $975K: No.

[bluechip]

1 hour ago, Mr bla bla said:

The incredible scarcity of available inventory in the tec 27 market considered, the art is getting in while the buying pool is fairly limited. Once that pool broadens, the pricetag changes.

In the 1930ies you could buy Picasso OA in Paris for 2000$. Today? 600 M for the center  pieces😂

Take that to the bank.

I'm sure there were other artists selling for 2K in the 30s whose art would be worth no more than that today (or perhaps less).  

[Crowzilla]

2 hours ago, Mr bla bla said:

In the 1930ies you could buy Picasso OA in Paris for 2000$. Today? 600 M for the center  pieces😂

Take that to the bank.

When the average yearly wages in 1935 were around $1800 (if you were one of the lucky ones who could find work), and the average price of a new house was $4,000 - that's a lot of money.

[DanCooper]

1 hour ago, Professor Chaos said:

So does the mean owner/seller will be paying Heritage a 16.7% commision?

I would be surprised that the owner/consignor is being charged (or deducted) any commission fee to Heritage.

The "privilege" to auction off a high end/demand piece plus the competition with other auction houses (namely ComicConnect) probably got any commission fee waived for the consignor.

 

Edited November 4, 2020 by DanCooper

[Chicago Boy]

20 minutes ago, DanCooper said:

I would be surprised that the owner/consignor is being charged (or deducted) any commission fee to Heritage.

The "privilege" to auction off a high end/demand piece plus the competition with other auction houses (namely ComicConnect) probably got any commission fee waived for the consignor.

 

From personal experience. Heritage is flexible. Hakes is flexible. Comic connect was not.  

[LDarkseid1]

1 hour ago, Chicago Boy said:

From personal experience. Heritage is flexible. Hakes is flexible. Comic connect was not.  

Yeah Hake’s does like a rolling scale I believe right? Isn’t it like every certain amount it goes down 1%? Or maybe I’m thinking of another auction site.

[zen514]

On 11/3/2020 at 3:24 PM, LDarkseid1 said:

Yeah the consensus was definitely not into that notion at all. Bidders seem to be very hot on this book though!

Maybe I might know something the boardies dont...  or im just lucky😂

[zen514]

So basically Darkseid and I were the only 1 million +   snd Comicdonna at 985k

 

The pool of bidder is not that small... It only takes a few dealers to get together and buy. Happens alot. They then re sell to prospective buyers. The real fun happens is when two or mroe decide to go for it. All we need to take a look is at art and sportscards. Comics is stil on the cheap. Especially with printed money.

 

The Rockford was pulled out quick as I thought it would.  Reminds me of the whiz comics 2 that sat at comicconnect at 50k and sold in auction for 162k.

 

 

[zen514]

4 hours ago, LDarkseid1 said:

Sorry sorry, I’m not perfect lol.

Btw. Imo your not too touchy. Its just a friendly  prediction game. All in good fun. From what i read he and most thought it would not even sniff close to a million.

 

1 million for a 7.0 is cheap imo. I would go for it in a heartbeat. If I were in the position as comic collector. 

[sfcityduck]

3 hours ago, DanCooper said:

I would be surprised that the owner/consignor is being charged (or deducted) any commission fee to Heritage.

The "privilege" to auction off a high end/demand piece plus the competition with other auction houses (namely ComicConnect) probably got any commission fee waived for the consignor.

 

But, the "buyer's premium" paid by the buyer does, as a practical matter, come out of the seller's pocket.  That's why we use the bid price + the buyer's premium as the "value" of a comic, not just the bid price.

[sfcityduck]

24 minutes ago, zen514 said:

The pool of bidder is not that small... It only takes a few dealers to get together and buy. Happens alot. They then re sell to prospective buyers. The real fun happens is when two or mroe decide to go for it. All we need to take a look is at art and sportscards. Comics is stil on the cheap. Especially with printed money.

 

Have any pool of dealers ever paid $1M for a book?  I can think of a board member dealer and another dealer who partnered on a mid+ six figure book, but of the small number of books that have sold for $1M, I'm not aware of any that were bought by an investment pool of dealers.  Not saying they didn't, just never heard they did.

[LDarkseid1]

35 minutes ago, zen514 said:

Btw. Imo your not too touchy. Its just a friendly  prediction game. All in good fun. From what i read he and most thought it would not even sniff close to a million.

 

1 million for a 7.0 is cheap imo. I would go for it in a heartbeat. If I were in the position as comic collector. 

Oh yeah we’re all good now. And agreed, 7.0 seems like a million barrier breaking book.

[Professor K]

3 hours ago, DanCooper said:

I would be surprised that the owner/consignor is being charged (or deducted) any commission fee to Heritage.

The "privilege" to auction off a high end/demand piece plus the competition with other auction houses (namely ComicConnect) probably got any commission fee waived for the consignor.

 

Hey Dan. How was that parachute ride you had? Thanks for responding. Cool name. Don't want to stir any pots but I always thought the buyers premium was what the Auction Company takes. They're cut. If its less than what they are showing I don't think that's fair to the person who wins it. Where is that 16.7% (at this point) going? 

https://en.wikipedia.org/wiki/Dan_Cooper_(comics)

Edited November 5, 2020 by Professor Chaos