Post your Promise Collection wins! 17 17

[GreatCaesarsGhost]

Terry-toons 38, oh man. 
 

except for a couple LB Cole classic covers and the 1st horror comic, it’s all pretty grim. Looks like the rocket scientists who bought in the first wave (  ) either have a 26% haircut to look forward to, or a new coffin liner

Edited September 12, 2023 by GreatCaesarsGhost

[drbanner]

Wow, it looks like premium Gold isn't immune to the 2022/2023 market downturn either. 

[jimbo_7071]

On 9/12/2023 at 6:30 AM, GreatCaesarsGhost said:

Terry-toons 38, oh man. 
 

except for a couple LB Cole classic covers and the 1st horror comic, it’s all pretty grim. Looks like the rocket scientists who bought in the first wave (  ) either have a 26% haircut to look forward to, or a new coffin liner

It could be some of each.

I remember when the Mystery Tales books were selling for stratospheric prices a few years ago. No one could believe the prices that were being paid; everyone thought that the buyer had to be nuts. Turned out he was dying. That was an eye-opener for me. I try to remind myself that any time I'm bidding on a book, I could be bidding against someone who really doesn't care about paying a reasonable price.

[comicjack]

I see lots of bleeding red 

[AJD]

On 9/12/2023 at 2:50 PM, tth2 said:

Boy, it hasn't been getting better with time, has it?  

Given the rate of inflation in the past couple of years, it's even worse than it looks in nominal dollars. Deflating recent sales by 12% (two years of 6% CPI increase, being conservative) only makes the pain worse.

[october]

On 9/12/2023 at 6:21 AM, drbanner said:

Wow, it looks like premium Gold isn't immune to the 2022/2023 market downturn either. 

I think these were destined for massive haircuts on resale no matter what the rest of the market was doing. 

The prices were just so high, especially on the relatively undesirable books. 

[Robot Man]

On 9/12/2023 at 4:21 AM, drbanner said:

Wow, it looks like premium Gold isn't immune to the 2022/2023 market downturn either. 

I wouldn’t say that is necessarily true other than the over the top Promise books. That was a crazy feeding frenzy and one, thankfully, I wasn’t a part of.

I don’t see GA in general going down much but more like leveling off or static right now. Lots of “wait and see”. 

[lou_fine]

On 9/12/2023 at 4:21 AM, drbanner said:

Wow, it looks like premium Over Promise and Under Delivered Gold isn't immune to the 2022/2023 market downturn either. 

FTFY    

[drbanner]

On 9/12/2023 at 1:26 PM, lou_fine said:

FTFY    

I'll say...it's pretty wild that almost a million dollars has been lost by purchases from the best Golden Age collection to hit the market since (????). These were big-time Blue Chip Gold top-of-the-hobby type books and people are taking a bath on them.

Edited September 12, 2023 by drbanner

[N e r V]

On 9/12/2023 at 4:21 AM, drbanner said:

Wow, it looks like premium Gold isn't immune to the 2022/2023 market downturn either. 

Depending on the book it’s holding up better than SA or BA but I’ve been a buyer since the adjustment period on a number of GA books I wanted but not at Covid prices…

[Bronty]

On 9/12/2023 at 2:07 PM, drbanner said:

I'll say...it's pretty wild that almost a million dollars has been lost by purchases from the best Golden Age collection to hit the market since (????). These were big-time Blue Chip Gold top-of-the-hobby type books and people are taking a bath on them.

people are taking baths on literally anything bought in that 2021 time period, so it is what it is.

[Mmehdy]

On 9/12/2023 at 12:09 PM, Bronty said:

people are taking baths on literally anything bought in that 2021 time period, so it is what it is.

let's give the promise collection room to breath say 5 years....then look back....we are not even finished with 2023 yet

[drbanner]

On 9/12/2023 at 2:54 PM, N e r V said:

Depending on the book it’s holding up better than SA or BA but I’ve been a buyer since the adjustment period on a number of GA books I wanted but not at Covid prices…

[lou_fine]

On 9/12/2023 at 11:07 AM, drbanner said:

I'll say...it's pretty wild that almost a million dollars has been lost by purchases from the best Golden Age collection to hit the market since (????). These were big-time Blue Chip Gold top-of-the-hobby type books and people are taking a bath on them.

Sadly as I've said here before, the less than stellar and rather inconsistent grading (i.e. perceived softness for a favored consignor) inflicted upon the collection by CGC along with the overwhelmingly overblown hype by Heritage (i.e. over promised and under delivered results) has seriously damaged the reputation of this once in a lifetime generational collection going forward.  

Hopefully, with the passage of time which tends to be a cure for most things, this collection can eventually attain its much deserved respected reputation and rightful place in the comic book hobby place without the baggage that it seemingly currently carries.    

 

[N e r V]

On 9/12/2023 at 12:18 PM, Mmehdy said:

let's give the promise collection room to breath say 5 years....then look back....we are not even finished with 2023 yet

I would agree with that on all books from the collection that a majority probably agree on the assigned grade. I think anyone who purchased some of the more questionable graded books is going to find themselves in a more difficult position on asking prices for the assigned grade. There is something called how a book presents which will jump a price over a grade number at times but seeing a number of these books over the last couple years how are people going to feel about buying a high priced copy selling at its CGC 8.5 grade if you feel it looks more like a 7 or 7.5 for example? I never counted numbers but this collection seemed to offer more “optimistic” looking grades than other pedigrees from the past. Not sure how that reputation will stand in 5 years either. We will see I suppose.

Also I’m a fan of not worrying about overpaying at times for quality books. However there are limits that turn too much overpaying into bad business. In other words sometimes it can take to long for the prices to catch up so it becomes bad business choices. I’m still in awe when we go through crazy price overreaches (remember the stocks dot.com boom in late 90’s early 2000’s) that there are such large portions of the “herd” that think price run ups are endless and good times last forever.

The game in all business is musical chairs and the only winners are those that understand how long the song is and when to sit down. 

[tth2]

On 9/13/2023 at 2:07 AM, drbanner said:

These were big-time Blue Chip Gold top-of-the-hobby type books and people are taking a bath on them.

To be fair, the vast majority were esoteric niche titles and/or mid-run issues of main titles.

[tth2]

On 9/13/2023 at 3:18 AM, Mmehdy said:

let's give the promise collection room to breath say 5 years....then look back....we are not even finished with 2023 yet

So tell all the Promise owners to stop selling!

[tth2]

On 9/13/2023 at 4:37 AM, lou_fine said:

Hopefully, with the passage of time which tends to be a cure for most things, this collection can eventually attain its much deserved respected reputation and rightful place in the comic book hobby place without the baggage that it seemingly currently carries.    

How can it, when you and others here so gleefully hammer the collection at every opportunity? 

[Silver Surfer]

With 5,000 books in this collection any idea what sort of books can we expect to see in future auctions?

[lou_fine]

On 9/12/2023 at 6:38 PM, tth2 said:

How can it, when you and others here so gleefully hammer the collection at every opportunity? 

Isn't it really the bidders or the non-presence of the deep pocketed bidders who normally play in this deep end of the pool the ones who are actually "hammering" the collection by letting the auction hammer drop way too soon on every Promise book resale?