Are prices still climbing or have they eased up a bit??? 43 43

[Tnexus]

I also think we're seeing a bit of a firesale here due to the new tax law coming next month. When people are risking paying 15-30% taxes on sales starting January 1, it's better to sell now than lose a ton to the government soon.

(Yes, technically they should be paying it already, but doesn't mean most are.)

[comicnoir]

On 12/12/2021 at 9:02 PM, Poekaymon said:

I sold a 9.2 about halfway into its meteoric rise around Jan this year for 11.  Didn't feel great about that as I watched it to climb all the way to 20 or so by summer.  It was like TSLA all over again.  Am mostly back to about even now.  But 10, 20, 30 years from now?  I dunno.  I still think it's a solid book.

Buy another one at the bottom. They're for sale every day.

[lou_fine]

On 12/12/2021 at 7:14 PM, Tnexus said:

I also think we're seeing a bit of a firesale here due to the new tax law coming next month. When people are risking paying 15-30% taxes on sales starting January 1, it's better to sell now than lose a ton to the government soon.

(Yes, technically they should be paying it already, but doesn't mean most are.)

So, what changes are they going to be making that's going to make sellers so much more willing to pay their taxes next year, when they don't necessarily pay them this year?    

I personally think the reason that more high end quality books are coming into the marketplace is due to potential sellers seeing new buyers entering into the marketplace and paying what appears to be irrational crypto like money for books that are actually not that hard to come by.    

[Tnexus]

On 12/12/2021 at 7:25 PM, lou_fine said:

So, what changes are they going to be making that's going to make sellers so much more willing to pay their taxes next year, when they don't necessarily pay them this year?    

I personally think the reason that more high end quality books are coming into the marketplace is due to potential sellers seeing new buyers entering into the marketplace and paying what appears to be irrational crypto like money for books that are actually not that hard to come by.    

Because unlike now, any person or business on Jan1 that sells something a person over $600 in goods is required by law to report it to the IRS. Current reporting requirement is $20,000. 28% capital gains tax is no joke.

[lou_fine]

On 12/12/2021 at 7:19 PM, comicnoir said:

On 12/12/2021 at 6:02 PM, Poekaymon said:

I sold a 9.2 about halfway into its meteoric rise around Jan this year for 11.  Didn't feel great about that as I watched it to climb all the way to 20 or so by summer.  It was like TSLA all over again.  Am mostly back to about even now.  But 10, 20, 30 years from now?  I dunno.  I still think it's a solid book.

Buy another one at the bottom. They're for sale every day.

Although it's rather common to have equities make the full round trip when prices shoot up parabolically, it would appear that this doesn't seem to happen in the case of comic books as they seem to stop off somewhere along the way back, instead of doing the full return round trip.    

[WolverineX]

On 12/12/2021 at 5:59 PM, PKJ said:

Right.

 

If I personally felt that way I would sell off the more common high supply books now and buy them back in later at a lower cost. Although when I try that with stocks, the prices shoot up another 100%. I did that with Ford this past year, thought oh nice I can double up, watch it drop and buy back in, it went on a straight upward trend the minute I submitted the sale. I now own -0- shares of Ford. 

I know how you feel.  Now I never sell.  I only DCA.  NEVER SELL.

[WolverineX]

On 12/12/2021 at 3:49 PM, lou_fine said:

Well, if you are speaking about GSXM 1 in your example here, then I would have to say that it has also soften in the uber high grade copies. 

Looks like it peak out for CGC 9.8 graded copies in the spring and summer with sales in the $60K's and one for $72K in June, which was then followed by an easing in sales with a very short pit stop in the $50's before settling down into the $40K's, and now looks headed even further down into the high $30K's.  Still, no real complaints for the long term holders of this book as it was selling in only the teens back a short year ago for a CGC 9.8 copy, and no doubt the huge huge supply of this book in uber HG condition is having a dampening effect on prices up here. 

On the other hand, it looks like X-Men 94 is still firing on all cylinders and continuing to run in overdrive as evident by the bidding on this copy in the current CC Event Auction:  

https://www.comicconnect.com/item/935594

Already at $62,212 with still another 5+ days to go and looks destined to pass the record $63K mark that HA was able to get for this book in CGC 9.8 back earlier in the Spring of this year.  

Only a short matter of time, but any preliminary guesses from the boardies here as to where this copy will finish up at by the time it's all said and done in a few short days from now.      

My favorite book.    Good time to  pick up lower grades since they have softened with everything else but once X-men into the MCU, it will go ballistic.   

[BigLeagueCHEW]

Ain’t ease up no bit, 

 

[HotKey]

On 12/12/2021 at 10:30 PM, Tnexus said:

Because unlike now, any person or business on Jan1 that sells something a person over $600 in goods is required by law to report it to the IRS. Current reporting requirement is $20,000. 28% capital gains tax is no joke.

This was changed to $10,000 over a month ago.

https://www.cbsnews.com/news/irs-bank-account-update-change-treasury-10000-dollars/

[NewWorldOrder]

Whats the difference between shares of Apple and AF 15's?

Spoiler

Nothing, both should never leave your portfolio and your collections unless case of emergency. 

 

Edited December 13, 2021 by NewWorldOrder

[DC#]

On 12/12/2021 at 9:03 PM, HotKey said:

This was changed to $10,000 over a month ago.

https://www.cbsnews.com/news/irs-bank-account-update-change-treasury-10000-dollars/

I believe the new $600 limit is still intact for eBay/PayPal in 2022 and different from the bank account inflow tracking that has been so controversial.   
 

https://newsroom.paypal-corp.com/2021-11-04-New-US-Tax-Reporting-Requirements-Your-Questions-Answered
 

https://www.newsweek.com/what-zelle-cashapp-others-irs-reporting-600-payments-means-businesses-1650800

Edited December 13, 2021 by DC#

[GreatCaesarsGhost]

On 12/12/2021 at 8:40 PM, lou_fine said:

Well, how apropo and timely for you then, as I was just scrolling through the Wednesday offerings in CC's Event Auction for this coming week and noticed the following:    

https://www.comicconnect.com/item/919666

Looks like this copy here is possibly still within your price range (for now at least), as it is sitting at just an even $4K or about only 9X its condition guide value, as compared to the equivalent graded copy that sold a few days ago for some 17.5X condition guide.    

Yeah, a real steal! Step right up.

I’m actually looking at this book, but I realize no way will it go for less than it just went for in the CC auction. And there comes a point where my conscience won’t let me bid further. Someone said it best a few posts back: how can one know the difference between an outlier and a trend? I’ve bought my share of big books, but I can’t go 17 x OPG without feeling that someone taped a “kick me” sign to the back of my shirt

[Ryan.]

Don't be surprised if 2022 becomes The Year of the Cash Transaction. 

[Ryan.]

On 12/13/2021 at 6:47 AM, GreatCaesarsGhost said:

Yeah, a real steal! Step right up.

I’m actually looking at this book, but I realize no way will it go for less than it just went for in the CC auction. And there comes a point where my conscience won’t let me bid further. Someone said it best a few posts back: how can one know the difference between an outlier and a trend? I’ve bought my share of big books, but I can’t go 17 x OPG without feeling that someone taped a “kick me” sign to the back of my shirt

In my experience, and specifically as a LB Cole collector, high visibility auctions for these books are the worst place to chase them. Cast a wide net. They are out there. 

[GreatCaesarsGhost]

On 12/13/2021 at 5:50 AM, Ryan. said:

In my experience, and specifically as a LB Cole collector, high visibility auctions for these books are the worst place to chase them. Cast a wide net. They are out there. 

Well, I know, but there’s no fool like an old fool. 3 months ago I bought this out of one of the auctions and felt good about only paying 9 TIMES OPG! Ah, the good old days

[MAR1979]

On 12/13/2021 at 6:48 AM, Ryan. said:

Don't be surprised if 2022 becomes The Year of the Cash Transaction. 

Until you get into higher amounts. Only "drug dealers" walk around with 25K+ in cash. Wire transfers are generally monitored for AML so once the algorithms pick up on regular inbound high number transfers it will be reported

Dealers, Flippers and Speculators for decades have committed what is tantamount to felony tax evasion (via non-reporting). Now at least some of that won't occur and those folks are Whining and Crying that they can not continue to steal as much as they had before...Amazing!

Edited December 13, 2021 by MAR1979

[lou_fine]

On 12/13/2021 at 3:47 AM, GreatCaesarsGhost said:

I’m actually looking at this book, but I realize no way will it go for less than it just went for in the CC auction. And there comes a point where my conscience won’t let me bid further. Someone said it best a few posts back: how can one know the difference between an outlier and a trend? I’ve bought my share of big books, but I can’t go 17 x OPG without feeling that someone taped a “kick me” sign to the back of my shirt

Hey Clark;

Since these two auctions for the exact same book in equuivalent grade are pratically running right on top of one another, you probably should give it a shot anyways. 

Especially since the high bidder will not be bidding on this go round, so it probably really comes down to how high the third bidder in line was willing to go last week, which in theory should be lower than the 17.5X OPG condition guide value. 

Edited December 13, 2021 by lou_fine

[NewWorldOrder]

On 12/13/2021 at 6:16 AM, MAR1979 said:

Until you get into higher amounts. Only "drug dealers" walk around with 25K+ in cash. Wire transfers are generally monitored for AML so once the algorithms pick up on regular inbound high number transfers it will be reported

Dealers, Flippers and Speculators for decades have committed what is tantamount to felony tax evasion (via non-reporting). Now at least some of that won't occur and they are Whining that they can no longer steal as much as before...Amazing!

Agreed!

You are supposed to pay taxes if you make a $1.00 the whole $600 thing is a non-issue unless you are trying to hide money.

If little Jimmy sells his old stuff in his closet for $1k, but the cost of all that stuff was $2k he doesnt have to pay any taxes to the govt.  Just has to file the 1099 he gets and declare it a loss. Not that hard people.  

[lou_fine]

On 12/13/2021 at 10:32 AM, NewWorldOrder said:

If little Jimmy sells his old stuff in his closet for $1k, but the cost of all that stuff was $2k he doesnt have to pay any taxes to the govt.  Just has to file the 1099 he gets and declare it a loss.

Would that also include all of those now worthless B&W comics from the late 80's along with all of those even less than worthless Wizard hyped toxic books from both Image and Valiant from the early 90's?  

[NewWorldOrder]

On 12/13/2021 at 11:24 AM, lou_fine said:

Would that also include all of those now worthless B&W comics from the late 80's along with all of those even less than worthless Wizard hyped toxic books from both Image and Valiant from the early 90's?  

I sold those in 1999 on ebay for my college beer money. 

Well pre-unity valiant is still good.