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Are prices still climbing or have they eased up a bit???
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Started by InfantTerrible,

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alexgross.com

alexgross.com

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On 11/17/2022 at 3:16 PM, mjoeyoung said:

 

X-Men #1 8.0 sold for $54K, last sale in August for $66K, but the previous sales were $95K, $72K, $102K, $90K, and $90K. In 2020/19  this book sold for an average of about $25K.

this was the best presenting 8.0 copy i have ever seen. it can be hard to know how accurate a pic on an auction site is, but this is a beautiful copy with white pages to boot. had i suspected it would go for under 60k i would have done some selling in advance to try and grab it! 

in a couple of years i think it likely that this particular book will have proven to be a steal. 

xmen.jpg

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DC#

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Building off some of the prior comments - here are some contextual results for some of the six figure titles from this week's Heritage Auction.     

 

Superman #1 2.0 - $264k. May 2022 (Goldin)   

Superman #1 1.8 - $188k Nov 2022 (Heritage)

Superman #1 1.5 - $198.6k June 2022 (Heritage).    
 

Marvel Comics #1 3.0 - $232.2k Nov 2022 (Heritage)

Marvel Comics #1 2.5 -  $364k  Mar 2022.  

 

Amazing Fantasy #15 8.5 – $707k Sept 2021.    Previous $155k in 2017

Amazing Fantasy #15 8.5 - $552k Nov 2022 (Heritage)

Amazing Fantasy #15 8.0 - $520k  Mar 2022.   

Amazing Fantasy #15 8.0 - $450k May 2022 (Goldin)

Amazing Fantasy $15 8.0 - $448.5k June 2022 (ComicConnect)

 

Spider-man #1 9.0 - $196.1k Sept 2022 (comicconnect)

Spider-Man #1 9.0 (Bethlehem Pedigree) - $120k  Nov 2022 (Heritage)

 

Fantastic Four #1 9.0 - $420k June 2022 (Heritage)

Fantastic Four #1 9.0 - $288k July 2022 (Heritage)

Fantastic Four #1 9.0 - $234 Nov 2022 (Heritage)

 

X-Men #1 9.0 - $185k Dec 2021.    

X-Men #1 9.0 = $156k  Aug 2022 (Heritage)

X-Men #1 9.0 - $107.1k Aug 2022 (Clink)

X-Men #1 9.0 - $114k Nov 2022 (Heritage)

X-Men #1 8.5 - $132k March 2022.    

X-Men #1 8.5 - $121.2k. May 2022 (Goldin)

 

Daredevil #1 9.6 - $150K Apr 2021.   

Daredevil #1 9.6 - $111k Sept 2022 (Heritage)

Daredevil #1 9.6 - $110.5 Sept 2022 (ComicConnect)

Daredevil #1 9.6 - $90k Nov 2022 (Heritage)

 

Tales of Suspense #39 9.2 - $144k Sept 2021.  

Tales of Suspense #39 9.2 - $226.1k. May 2022.   (Pedigree)

Tales of Suspense #39 9.2 - $130k Aug 2022 (Clink)

Tales of Suspense #39 9.2 - $168k Nov 2022 (Heritage)

 

Teenage Mutant Ninja Turtles #1 9.8 - $192k (Goldin)    

Teenage Mutant Ninja Turtles #1 9.8 - $192k (Heritage)   

Teenage Mutant Ninja Turtles  #1 9.8 - $186k Sept 2022 (Heritage) 

Teenage Mutant Ninja Turtles  #1 9.8 - $156k Nov 2022 (Heritage) 

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mjoeyoung

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On 11/18/2022 at 10:24 AM, DC# said:

Teenage Mutant Ninja Turtles #1 9.8 - $192k (Goldin)    

Teenage Mutant Ninja Turtles #1 9.8 - $192k (Heritage)   

Teenage Mutant Ninja Turtles  #1 9.8 - $186k Sept 2022 (Heritage) 

Teenage Mutant Ninja Turtles  #1 9.8 - $156k Nov 2022 (Heritage) 

And if you go back to 2021 on the GPA you have 2 sales of $245K and $230K.

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mjoeyoung

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On 11/18/2022 at 10:24 AM, DC# said:

Fantastic Four #1 9.0 - $420k June 2022 (Heritage)

Fantastic Four #1 9.0 - $288k July 2022 (Heritage)

Fantastic Four #1 9.0 - $234 Nov 2022 (Heritage)

On 11/18/2022 at 10:35 AM, THE_BEYONDER said:

That’s a heavy drop from June

 

According to the GPA that book was purchased in October 2016 for $165K.

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mjoeyoung

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On 11/18/2022 at 11:01 AM, THE_BEYONDER said:

$70K profit in 6 years isn’t terrible.  

But $255K would have been a lot sweeter.  Is the smart money buying or selling now? If you are investing in comics, I think it is (or was) time to sell, sell, sell.  Prices are only going lower from here.

I look at the "zoom to the moon" prices in the last few years and I think the world has gone insane.  Then I see that Justin Bieber's Bored Ape NFT that he bought for $1.3 million is only worth $70K and the collapse of FTX Crypto Exchange and I see sanity might be returning.

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THE_BEYONDER

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On 11/18/2022 at 1:31 PM, mjoeyoung said:

But $255K would have been a lot sweeter.  Is the smart money buying or selling now? If you are investing in comics, I think it is (or was) time to sell, sell, sell.  Prices are only going lower from here.

I look at the "zoom to the moon" prices in the last few years and I think the world has gone insane.  Then I see that Justin Bieber's Bored Ape NFT that he bought for $1.3 million is only worth $70K and the collapse of FTX Crypto Exchange and I see sanity might be returning.

There was so much money to be made in 2021.  I have no sympathy for those that decided to hold on for more.  Enjoy your bath 🛁 

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mjoeyoung

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On 11/18/2022 at 11:41 AM, dikran said:

Cash is king right now.

On 11/18/2022 at 11:48 AM, THE_BEYONDER said:

There was so much money to be made in 2021.  I have no sympathy for those that decided to hold on for more.  Enjoy your bath 🛁 

Exactly, so much easy money.  All the loose monetary policy is coming to an end.  The Wall Street Journal has an article about someone who put their Nevada ranch up for sale for $30 million in August 2021, and has had to drop the price to $11.5 million with no takers.

Values on everything are falling.  Sure there will be outliers due to rarity and the fact that economic downturns don't affect everyone equally.  But to quote the article, "(luxury real-estate) buyers (are) spooked by economic uncertainty (and) are suddenly hesitant to overpay and some are sitting on the sidelines waiting to see how things shake out."  I feel that this kind of thinking will become prevalent in our world as well.

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DC#

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I know there is always talk of high net-worth individuals for whom spending $1M on a comic book, card, or NFT is nothing and thus they are less likely to care about even paper losses on investments like these.    My experience has been that those individuals have become high net-worth individuals precisely because they do care.   They do keep score, they do track, and they care if they purchased an asset at twice its current FMV.     It is probably cliche to think about newly minted millionaires/billionaires, be they bitcoin beneficiaries or whatever, as a bit more carefree with their money (basically read the sad tales of many lottery winners) but in general the harder the money is to come by the more care people tend to give it.     

There was an earlier comment that an AF 15 in a 8.5 grade was hard to come by which is true.   But $600k is also hard to come by.      

Edited by DC#
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VintageComics

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On 11/17/2022 at 7:01 AM, Tec-Tac-Toe said:

As has been mentioned in this thread, I also find it, I'll write, interesting the prices that some dealers (perhaps consigners) currently ask for many CGC graded Bronze and Copper ages comic books when I have seen some (leaning toward many) sell at auction for half or almost half of those asking prices. Granted, they are "asking prices" and, perhaps, the dealers (consigners) have sold/will sell them for less, possibly much less.

Of course, I may just be cheap/don't need the comic book/can't afford the comic book/ etc.,/etc.

Because one auction sales is not an indicator of the market, and I can give MANY examples. 

The Hulk #181 example was discussed a few pages ago and I think the reasonable conclusion is that those two $50K Sig Series sales were both outliers and possibly even fake sales. I never thought Hulk #181 was a $50K book after those sales, and we now have at least two more sales at $90K+ forming a bottom on the book (and that's two IN THE SAME AUCTION which is even more impressive).

Another book I was surprised about was the ASM #1 CGC 9.6 that sold for $330K. That sounds like a lot of money but in the grand scheme of things, I think that book went incredibly cheap when compared to other ASM #1 sales, AF #15 sales and other related books. In fact, I was shopping around a 9.6 for someone at well over that number a year ago (let's say double) and I was getting interest - not serious enough to sell it - but if the book had been priced as $330K it would have sold many times over. 

So does that mean that ASM #1 is faltering? Hardly. The book is climbing in price in other high grade price points. 

So, this one slipped throw the cracks because another bidder didn't show up to drive price up and I think the buyer got a deal.

We'll know in 6 months where the bottom actually was on this new market but I think people are just currently reactive and not proactive. 

One more thing. I won't name names, but there were dealings buying up books when everyone was selling in 2008-09 and in early 2020. They spend millions buying up people's 'fire sales' books, and they did very well in retrospect.

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THE_BEYONDER

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On 11/18/2022 at 7:32 PM, VintageComics said:

One more thing. I won't name names, but there were dealings buying up books when everyone was selling in 2008-09 and in early 2020. They spend millions buying up people's 'fire sales' books, and they did very well in retrospect.

80859C3D-AD4B-4194-90C4-290E577DF42F.jpeg.e04e9487f4c6a2de455d893028eb9a19.jpeg

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mjoeyoung

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Heritage Today vs. GPA (most recent sales first):

Amazing Spider-Man #4, 7.5, $5.3K, last 2 sales $5.9K, $6.2K (2021)

Amazing Spider-Man #14, 8.0 $8.7K, last 

Fantastic Four #4, 7.0, $6.6K, last 2 sales $10.5K (2022), $5.8K (2021)

Fantastic Four #5 8.5, $39.6K, last 4 sales $60K (2022), $52.8K, $54K, $39.8K (2021)

Tales of Suspense #52 8.5 $5.5K, last 4 sales $6.6K, $7.2K, $9K, $8.5K (2021)

Detective Comics #168 3.0 $8.4K, last 4 sales $9.7K and $7.3K (2020), $9.6K and $10.5K (2019)

Famous Funnies #213 6.0 $9.9K, last sale $12K (2022), 5.5 sold for $7.2K in 2021

Edited by mjoeyoung
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Stefan_W

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On 11/17/2022 at 4:07 PM, buttock said:

I'm so glad I sold my SA when I did.  For once I timed things right.  

I sold most of my SA in the first third of the comic boom when the prices were rising but not as high as they would eventually get. These sales all looked terrible in 2021 but now I am pretty happy. Better to leave a bit on the table then to try to squeeze out every dime and eventually get burned. 

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