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How big is the pool of buyers for six-figure O/A?
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Started by ShallowDan,

126 posts in this topic

ShallowDan

ShallowDan

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The on-going thread concerning ASM 299 has prompted me to ask something I've wondered about for quite a while: how many folks in the world are bidding on and buying pieces at these price levels?

I ask this because it's always felt as if O/A collecting is a relatively niche hobby, and I've always assumed that most collectors fall somewhere towards the upper side of the middle class, as far as income goes.  Just looking at my self, everything I've ever bought has been in the three or four-figure range.  While I could swing something in the low to mid five-figures, my lifestyle is such that my mind always reminds me of what else money buys at those levels, so it's a relatively easy pass when something I like comes along in that range.

Many of the collectors I've seen with really impressive collections bought the bulk of their collections back when prices were much lower than they are now.  So I'm left wondering exactly how many people are bidding against each other when you're looking at something like ASM 299.  At this end of the market does Bidder A know that he's up against Bidder B and C (which is to say is everyone in this market aware of each other and who they are bidding against?) or is it like me going for a low four-figure piece, where I've absolutely no idea who I'm bidding against?

Hoping Gene and some of you other guys can shed some light on how the other half lives (and bids).

Edited by ShallowDan
typo
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Timely

Timely

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1 step further. How many 7 figure sales have there been in OA vs comics? Both are in the 5-15 range as far as I know.

I do believe since OA is all one of a kind, the sale of higher end material is less often than comics, but only due to collectors not wanting to sell them, as they may never come back for sale. 
 

If you look hard enough I’m sure a 100k+ AF 15, Batman 1 or Cap 1 can be had in a relatively short time, so replacing one isn’t that hard. How many decades does it take to get an OA cover of X-Men 1-50?

Edited by Timely
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Unstoppablejayd

Unstoppablejayd

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2 hours ago, ShallowDan said:

Many of the collectors I've seen with really impressive collections bought the bulk of their collections back when prices were much lower than they are now.

I think this is the part of the equation that gets forgotten.. collectors like this can use the equity they have built to buy the xlarge pieces even if there state in life would not normally allow for that kind of expenditure. 

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ShallowDan

ShallowDan

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2 hours ago, Unstoppablejayd said:

I think this is the part of the equation that gets forgotten.. collectors like this can use the equity they have built to buy the xlarge pieces even if there state in life would not normally allow for that kind of expenditure. 

 

2 hours ago, vodou said:

Amend this How big is the pool of buyers for six-figure O/A? to this How big is the pool of new money cash buyers for six-figure O/A? and I think you've got a real conversation.

 

Those are actually a great points, and something that might be at play way more often that I was originally thinking.  It would be interesting to know how often a six-figure final hammer price is followed up with a handful of five-figure consignments from the buyer in the next auction.

At times, the O/A game at these levels seems like a table of guys playing poker with everyone wanting to play as long as possible, but worried about who is going to try and cash out first.

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Xatari

Xatari

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I am new to OA as of this year but I see a lot of influx into the hobby with plenty more to come. Some of the points above regarding equity are being seen in the modern comic space with collectors who had stashes of books like Ultimate Fallout 4 cashing out and buying higher dollar traditional blue chip keys. Some of this money is also flowing into OA as well as it is an extension of the overall industry. 

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Rick2you2

Rick2you2

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I have no more inside info on this than anyone else, but it seems pretty clear that the “sweet spot” for this hobby, where most collectors usually buy, is under $2,000. Ordinarily people spend more than that, of course, and experienced, well-heeled collectors probably go into the mid-high 5 figures on occasion. But above that, I suspect you are mostly seeing a mix of owners buying things with funds earned from selling things, and dealers greasing the market price to a higher level to sell. When these “musical chairs” stop, it could get interesting, since I can’t see people buying in the lower end all of a sudden”jumping” at the chance to save $50,000 on a $250,000 piece.

How many people who are not collectors buy the occasional high end piece to show off? I saw a clip of Anthony Scaramucci in which he had a color cover of Superman v. Mohammed Ali on the wall that he was very proud to own (segway was that even OA?). That may be the source of new money—people like him. 

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jjonahjameson11

jjonahjameson11

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13 hours ago, ShallowDan said:

The on-going thread concerning ASM 299 has prompted me to ask something I've wondered about for quite a while: how many folks in the world are bidding on and buying pieces at these price levels?

I ask this because it's always felt as if O/A collecting is a relatively niche hobby, and I've always assumed that most collectors fall somewhere towards the upper side of the middle class, as far as income goes.  Just looking at my self, everything I've ever bought has been in the three or four-figure range.  While I could definitely swing something in the low to mid five-figures, my lifestyle is such that my mind always reminds me of what else money buys at those levels, so it's a relatively easy pass when something I like comes along in that range.

Many of the collectors I've seen with really impressive collections bought the bulk of their collections back when prices were much lower than they are now.  So I'm left wondering exactly how many people are bidding against each other when you're looking at something like ASM 299.  At this end of the market does Bidder A know that he's up against Bidder B and C (which is to say is everyone in this market aware of each other and who they are bidding against?) or is it like me going for a low four-figure piece, where I've absolutely no idea who I'm bidding against?

Hoping Gene and some of you other guys can shed some light on how the other half lives (and bids).

A few years ago, I built up a war chest and spent like a drunker sailor.  I will admit to making two  six-figure purchases that year, but I haven't done so since.

If the right McSpidey cover came along, I could easily see myself bidding/offering well into six-figures again.

Edited by jjonahjameson11
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Rick2you2

Rick2you2

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49 minutes ago, jjonahjameson11 said:

A few years ago, I built up a war chest and spent like a drunker sailor.  I will admit to making two  six-figure purchases that year, but I haven't done so since.

If the right McSpidey cover came along, I could easily see myself bidding/offering well into six-figures again.

Honestly, I don't see the attraction, at least at those price levels. We're talking $100,000, for gosh sakes.

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ShallowDan

ShallowDan

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33 minutes ago, Rick2you2 said:

Honestly, I don't see the attraction, at least at those price levels. We're talking $100,000, for gosh sakes.

One of the nice things about the O/A hobby is that there's something to be had at any price level (and always something to aspire to at the next level).  Budget-dictating-taste is an obvious factor at play, but everyone can find something that brings them great joy, even if we are slightly envious of those with bigger/better collections. 

17 minutes ago, jjonahjameson11 said:

That’s good...less competition for me!

If you don't mind me being nosy about these buys, did you have any idea of who the under-bidders were on the pieces that you did win?  As I mentioned in the OP, that's an aspect of this side of the hobby I've always been curious about.  I'm sure it's a rather small fraternity.

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jjonahjameson11

jjonahjameson11

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46 minutes ago, ShallowDan said:

If you don't mind me being nosy about these buys, did you have any idea of who the under-bidders were on the pieces that you did win?  As I mentioned in the OP, that's an aspect of this side of the hobby I've always been curious about.  I'm sure it's a rather small fraternity.

One was a private transaction. 

The other on HA, but I do not know who the under-bidders were.

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Carlo M

Carlo M

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If I understand correctly, the post was about how many buyers there are out there for OA priced at above USD100.000.  Assuming we are talking abut people who can buy regularly in that price range (say at least one piece every couple of years), my totally uneducated guess would be 25-30.  Am in the ballpark here?

Edited by Carlo M
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JadeGiant

JadeGiant

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I think there are a lot of collectors that can take down a $100K piece from my observations. A lot of them would be those with large collections often built when cost basis was very low and can now turn a piece or a number of pieces into $100K pretty easily. The list probably shrinks considerably for those who can/willing to drop that money in liquid cash. How many is a question probably very hard to answer with more than a SWAG. I would say, probably more than most would think as there are a LOT of buyers out there who do NOT post online frequently or at all. 

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