Post your Promise Collection wins! 17 17

[tth2]

On 6/24/2023 at 2:46 AM, buttock said:

Everyone in comics expects perpetual linear growth.  

Which is not unreasonable when that's what we've had for 80+ years.

[tth2]

On 6/24/2023 at 1:44 AM, Aman619 said:

But aren’t we pretty comfortable assuming that these prices were bought by others?  By New people attracted by rising prices, as an alternate (sure thing?) investment?  

Given that we still have zero insight into who bought these books that have been sold for $830k (and counting) of losses, I don't think we can assume that at all. 

I still don't see newbies coming in to our hobby and buying so many niche GA titles.  Action 1, Detective 27, AF 15, yes.  But Saddle Justice and Mighty Mouse, and mid-run Actions and Supermans?

It would be the equivalent of some comic guys who are sports card newbies entering the sports card market and buying Clyde Lovellette and Paul Waner cards instead of Mickey Mantle and Honus Wagner.      

[waaaghboss]

On 6/23/2023 at 2:46 AM, Aman619 said:

Call me an outlier,  but a total 25% loss isn’t that bad.  Is it?  There are many stocks and investments that were down, or still at 25% down in recent years.  Bottom line for me is that these buyers sold too soon after buying too high.  Of course 25% is in the aggregate, for all books resold in public auctions tracked in the list.  It’s probably true that some buyers took most of the losses, and coughed up a much higher %.

anyone care to recalculate the numbers based on purchase price not date?  Say the % loss for books over 100K, and 50-100K etc?

Keep in mind sales tax when you bought, and fees when you sell.  At least when I sell stocks at a loss I didn't have to pay sales tax nor commissions when they tank

[Aman619]

On 6/24/2023 at 6:54 AM, tth2 said:

Given that we still have zero insight into who bought these books that have been sold for $830k (and counting) of losses, I don't think we can assume that at all. 

I still don't see newbies coming in to our hobby and buying so many niche GA titles.  Action 1, Detective 27, AF 15, yes.  But Saddle Justice and Mighty Mouse, and mid-run Actions and Supermans?

It would be the equivalent of some comic guys who are sports card newbies entering the sports card market and buying Clyde Lovellette and Paul Waner cards instead of Mickey Mantle and Honus Wagner.      

Well, sure some of the purchases were collector upgrades or paying whatever it took to secure a scarcer garage for a run peehaps. But the only copies resold would be due to financial setbacks. Or maybe a result of “oooh. Now I want that!” Buy it- sell it to buy a newer toy” collecting. Longtime comic collectors wouldn’t be selling/flipping. 

as for new money in the hobby, dealers haven’t shared any lists of names with me , but I’m confident our hobby has attracted other collectors to try our wares. And a 25% loss is consistent with fallout in many investment areas in and after Covid

you and I kept out of the frenzy (right?). So I hate to think these losses were taken by our usual fellow collectors who just couldn’t resist the bidding wars we witnessed. 

[tth2]

On 6/24/2023 at 5:01 PM, Aman619 said:

you and I kept out of the frenzy (right?)

I am happy and simultaneously sad to say that to date I have owned zero Promise books.

[tth2]

On 6/24/2023 at 5:01 PM, Aman619 said:

as for new money in the hobby, dealers haven’t shared any lists of names with me , but I’m confident our hobby has attracted other collectors to try our wares. And a 25% loss is consistent with fallout in many investment areas in and after Covid

Sure, for Action 1, Tec 27, AF 15, X-Men 1, GSX 1, TMNT 1, etc., I have no doubt that the big run ups were due in part to new money coming in.  That makes sense to me.

For the vast majority of the Promise books, which I would characterize as extremely esoteric for someone not from our hobby, not so much.  It's hard for those of us who've been in the hobby for a long time to put ourselves in the shoes of a total outsider and look through their eyes.  Even books like Phantom Lady 17 or the various LB Cole covers, which mean a lot to GA collectors, probably mean very little to SA/BA/CA/Modern collectors, let alone to non-comic collectors.  

But I just think of myself suddenly deciding to buy vintage vinyl records.  Outside of the Beatles "Butcher" album, I know nothing about the hobby, and if you gave me 100 guesses I probably wouldn't identify a single other record that's in the Top 10 most valuable records.  

[steelcity]

On 6/24/2023 at 12:05 PM, tth2 said:

I am happy and simultaneously sad to say that to date I have owned zero Promise books.

Me, too. Although some of this collection now take up top spots in the CGC census with disappointing copies others would have been welcome buys had this all happened in a more sensible time.

[Aman619]

On 6/24/2023 at 1:20 PM, tth2 said:

Sure, for Action 1, Tec 27, AF 15, X-Men 1, GSX 1, TMNT 1, etc., I have no doubt that the big run ups were due in part to new money coming in.  That makes sense to me.

For the vast majority of the Promise books, which I would characterize as extremely esoteric for someone not from our hobby, not so much.  It's hard for those of us who've been in the hobby for a long time to put ourselves in the shoes of a total outsider and look through their eyes.  Even books like Phantom Lady 17 or the various LB Cole covers, which mean a lot to GA collectors, probably mean very little to SA/BA/CA/Modern collectors, let alone to non-comic collectors.  

But I just think of myself suddenly deciding to buy vintage vinyl records.  Outside of the Beatles "Butcher" album, I know nothing about the hobby, and if you gave me 100 guesses I probably wouldn't identify a single other record that's in the Top 10 most valuable records.  

Yes of course it’s hard to fathom a rich newbie chasing those books. That where I lean into the massive hype factor. New big money relies on advisors in the know to point out the stuff to chase. (The Parrino effect).  There had to be some of that at plat to chase Phantom Lady .  But Saddle Justice?  Prob not. 

[Aman619]

On 6/24/2023 at 1:05 PM, tth2 said:

I am happy and simultaneously sad to say that to date I have owned zero Promise books.

I’m Happy but not sad … upgrades on books I’ve got nice copies of at 40K apiece? Pass 

[ThothAmon]

I don’t mind a bit knowing I overpaid for a couple Promise Archie’s. They are part of my core collection and, yes Jerry, they are spectacular.
 
For those who have never sold books I’m jealous. However, if at some point you do start, selling a few at a loss (while not preferable) helps mitigate the gains. 
 

[batman_fan]

On 6/24/2023 at 6:16 AM, ThothAmon said:

I don’t mind a bit knowing I overpaid for a couple Promise Archie’s. They are part of my core collection and, yes Jerry, they are spectacular.
 
For those who have never sold books I’m jealous. However, if at some point you do start, selling a few at a loss (while not preferable) helps mitigate the gains. 
 

Those Archies were stellar.  Nice that you were able to snag one. 

[gregreece]

On 6/24/2023 at 12:54 AM, tth2 said:

Given that we still have zero insight into who bought these books that have been sold for $830k (and counting) of losses, I don't think we can assume that at all. 

I still don't see newbies coming in to our hobby and buying so many niche GA titles.  Action 1, Detective 27, AF 15, yes.  But Saddle Justice and Mighty Mouse, and mid-run Actions and Supermans?

It would be the equivalent of some comic guys who are sports card newbies entering the sports card market and buying Clyde Lovellette and Paul Waner cards instead of Mickey Mantle and Honus Wagner.      

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

This 

 

 

 

With all due respect to those paying nutty multiples for these (Saddle Justice and Mighty Mouse, and mid-run Actions and Supermans), I think a washout is good for the pedigree as well as the hobby as a whole longer term.

[batman_fan]

I was hoping to snag one of the Promise Batman's. There were several that were nicely cut but at the end of the day, still to high to justify buying a run of the mill Batman book.

[Badger]

On 6/23/2023 at 4:58 AM, GreatCaesarsGhost said:

I’ll eat breakfast off mine before I sell it for a loss

As long as I'm alive I do not think you would have to sell at a loss. That AS #2 is killer.

[GreatCaesarsGhost]

On 6/25/2023 at 3:42 PM, Badger said:

As long as I'm alive I do not think you would have to sell at a loss. That AS #2 is killer.

You have a good memory, kind sir

[comicnoir]

On 6/25/2023 at 5:04 PM, GreatCaesarsGhost said:

You have a good memory, kind sir

Everybody remembers that book.

[Artboy99]

[jimjum12]

On 6/25/2023 at 5:48 PM, Artboy99 said:

Not to stir the kettle or anything, but that looks like a slam dunk 9.4. GOD BLESS ...

-jimbo(a friend of jesus)

[Artboy99]

On 6/26/2023 at 5:56 AM, jimjum12 said:

Not to stir the kettle or anything, but that looks like a slam dunk 9.4. GOD BLESS ...

-jimbo(a friend of jesus)

Very happy with the book.

[Straw-Man]

gorgeous.