Post your Promise Collection wins! 17 17

[RareHighGrade]

On 8/12/2022 at 11:03 AM, szav said:

To be fair, and interestingly, that defect is actually listed on the graders notes as ‘small paper lift mid spine.’

That's interesting because it means they actually considered it, rather than missed it, when giving the 9.4 grade.  I'm not sure which is worse.  

Having said that, I think that some of the Promise book grades were given because of the unusually bright colors and gloss.

[lou_fine]

On 8/11/2022 at 5:47 PM, szav said:

So, there was some pretty heavy insanity in this Baker focused auction, nonetheless this Promise flip did quite well, maybe the first time that's happened.

Well, looks like Heritage has another copy of Seven Seas 5 coming up in this week's Sunday/Monday auction (Ok, Monday it is):  

https://comics.ha.com/itm/golden-age-1938-1955-/seven-seas-comics-5-universal-phoenix-feature-1947-cgc-fn-55-off-white-to-white-pages/a/122235-19666.s?ic4=ListView-ShortDescription-071515

 

Maybe it's hoping to ride in on the coattails of this Promise copy of SS 5 as this mid-grade copy is already sitting at $1,740 with the Heritage BP juice in there, or already at more than triple condition guide.  Will definitely be interesting to see how much further action there is on this copy here and where it will finally finish up at in comparison.    

[GreatCaesarsGhost]

As has been noted in the Heritage thread, more Promise collection books are starting to hit the secondary market. I don’t know if it’s due to current market conditions(oh crypto guys, why have you forsaken us?!) or due to collector apathy, but they are not doing so well.  I don’t know if we will continue to see more and more Promise books as financial circumstances dictate, but I’m hitting the snooze button on mine. Good thing I buy things I like

Edited September 9, 2022 by GreatCaesarsGhost

[Funnybooks]

Over Promised...under delivered

The largest P.T. Barnum shill in the history of the hobby by all involved

[ThothAmon]

On 9/9/2022 at 7:54 AM, Funnybooks said:

Over Promised...under delivered

The largest P.T. Barnum shill in the history of the hobby by all involved

 

[Funnybooks]

On 9/9/2022 at 8:32 AM, ThothAmon said:

 

[Robot Man]

On 9/9/2022 at 4:50 AM, GreatCaesarsGhost said:

As has been noted in the Heritage thread, more Promise collection books are starting to hit the secondary market. I don’t know if it’s due to current market conditions(oh crypto guys, why have you forsaken us?!) or due to collector apathy, but they are not doing so well.  I don’t know if we will continue to see more and more Promise books as financial circumstances dictate, but I’m hitting the snooze button on mine. Good thing I buy things I like

Is that any suprise? Any reasonably long time collector or dealer should have figured that out very quickly.

Now if you bought to keep or hold for the long time, you might make a little. But it will take quite a while.

Some of the lessor, later, none key books or titles will probably not be worth anything close to original purchase price.

 

[Robot Man]

On 9/9/2022 at 4:54 AM, Funnybooks said:

Over Promised...under delivered

The largest P.T. Barnum shill in the history of the hobby by all involved

One of the most well timed and well marketed collections ever brought to market. You really got to tip your hat to HA. Was like taking candy away from a baby. 

[Funnybooks]

On 9/9/2022 at 10:48 AM, Robot Man said:

One of the most well timed and well marketed collections ever brought to market. You really got to tip your hat to HA. Was like taking candy away from a baby. 

[GreatCaesarsGhost]

Heritage is stepping up their competition with the other auction houses. It started with the Promise collection, but now it looks like it’s the new norm. No more sellers commission if you or your heirs send your Heritage winnings back thru Heritage when we go to the great LCS in the sky.

I just got this from yesterday’s auction

 

 

 

Edited September 12, 2022 by GreatCaesarsGhost

[tth2]

On 9/12/2022 at 8:23 PM, GreatCaesarsGhost said:

Heritage is stepping up their competition with the other auction houses. It started with the Promise collection, but now it looks like it’s the new norm. No more sellers commission if you or your heirs send your Heritage winnings back thru Heritage when we go to the great LCS in the sky.

I just got this from yesterday’s auction

 

 

 

That's not much.  Heritage will usually drop the seller's commission for consignors, sometimes without even being asked.  The bigger issue for consignors is the Buyer's Premium.

I believe in the initial round of auctions of Promise books, Heritage were offering a rebate on the BP to the winners if they consigned their Promise books back to Heritage such that the net fee they'd be paying was only 10%.

Of course, as it has turned out, re-selling a Promise book has generally been a disaster, so paying a fee of "only" 10% hasn't really been all that helpful (although I guess that's better than losing your shirt AND losing the full 20% BP).

[GreatCaesarsGhost]

On 9/12/2022 at 8:08 AM, tth2 said:

That's not much.  Heritage will usually drop the seller's commission for consignors, sometimes without even being asked.  The bigger issue for consignors is the Buyer's Premium.

I believe in the initial round of auctions of Promise books, Heritage were offering a rebate on the BP to the winners if they consigned their Promise books back to Heritage such that the net fee they'd be paying was only 10%.

Of course, as it has turned out, re-selling a Promise book has generally been a disaster, so paying a fee of "only" 10% hasn't really been all that helpful (although I guess that's better than losing your shirt AND losing the full 20% BP).

Ah, you are so right. I went and searched out my Promise resale certificate 

[lou_fine]

On 9/12/2022 at 5:23 AM, GreatCaesarsGhost said:

Heritage is stepping up their competition with the other auction houses. It started with the Promise collection, but now it looks like it’s the new norm. No more sellers commission if you or your heirs send your Heritage winnings back thru Heritage when we go to the great LCS in the sky.

Well, I guess that's only for the big dollar books brought by deep pockets collectors like you since I've never ever received one of these certificates with any of my winnings to date. 

I guess with the types of low dollar value books that I tend to win, they are probably more than ecstatic just to get rid of them and never ever want to see them again or to touch them with a 10-foot pole. 

Needless to say, unlike most other boardies here, at least I am doing my part to fight this war against inflation that we are all suffering from. 

Edited September 12, 2022 by lou_fine

[lou_fine]

On 9/12/2022 at 6:08 AM, tth2 said:

Of course, as it has turned out, re-selling a "Over Promise & Under Deliver" book has generally been a disaster, so paying a fee of "only" 10% hasn't really been all that helpful (although I guess that's better than losing your shirt AND losing the full 20% BP).

FTFY      

[MasterChief]

On 9/9/2022 at 4:46 AM, Robot Man said:

On 9/9/2022 at 1:50 AM, GreatCaesarsGhost said:

As has been noted in the Heritage thread, more Promise collection books are starting to hit the secondary market. I don’t know if it’s due to current market conditions(oh crypto guys, why have you forsaken us?!) or due to collector apathy, but they are not doing so well.  I don’t know if we will continue to see more and more Promise books as financial circumstances dictate, but I’m hitting the snooze button on mine. Good thing I buy things I like

Is that any suprise? Any reasonably long time collector or dealer should have figured that out very quickly.

Now if you bought to keep or hold for the long time, you might make a little. But it will take quite a while.

Some of the lessor, later, none key books or titles will probably not be worth anything close to original purchase price.

 

The current ROI snapshot does not look promising for the collection.

While time will provide more data, and investment realization may change, the spreadsheet below paints an overall picture of the irrational exuberance that drove Promise prices higher than they fundamentally justified. (Source: Heritage Auctions. Data sorted by oldest to newest purchase date)

[GreatCaesarsGhost]

On 9/17/2022 at 5:54 PM, MasterChief said:

The current ROI snapshot does not look promising for the collection.

While time will provide more data, and investment realization may change, the spreadsheet below paints an overall picture of the irrational exuberance that drove Promise prices higher than they fundamentally justified. (Source: Heritage Auctions. Data sorted by oldest to newest purchase date)

As always, excellent work Masterchief

Im waiting for the big books to come out. People were paying north of $200k on several books(and much higher). If the new money decides comics ain’t for them after all, those books will come back around. And likely the next time around, the buyers will not be nearly as accepting of corner defects disguised as bindery tears, and heavy dust shadows in their 9.4’s
 

Edited September 18, 2022 by GreatCaesarsGhost

[RareHighGrade]

On 9/17/2022 at 3:54 PM, MasterChief said:

The current ROI snapshot does not look promising for the collection.

While time will provide more data, and investment realization may change, the spreadsheet below paints an overall picture of the irrational exuberance that drove Promise prices higher than they fundamentally justified. (Source: Heritage Auctions. Data sorted by oldest to newest purchase date)

Wow, out of 43 books, 33 went down and, in some cases, dropped massively.  If the sales commissions are taken into account, 37 of 43 went down and the devastation is far worse.

[jimbo_7071]

On 9/17/2022 at 6:54 PM, MasterChief said:

The current ROI snapshot does not look promising for the collection.

While time will provide more data, and investment realization may change, the spreadsheet below paints an overall picture of the irrational exuberance that drove Promise prices higher than they fundamentally justified. (Source: Heritage Auctions. Data sorted by oldest to newest purchase date)

I predict that some of these books will sell for even less the next time they go on the block—but we shall see.

[tth2]

On 9/18/2022 at 6:54 AM, MasterChief said:

The current ROI snapshot does not look promising for the collection.

While time will provide more data, and investment realization may change, the spreadsheet below paints an overall picture of the irrational exuberance that drove Promise prices higher than they fundamentally justified. (Source: Heritage Auctions. Data sorted by oldest to newest purchase date)

 

Thanks for putting the list together!  

Assuming you put this together with a spreadsheet, could you put in totals at the bottom?  I'm too lazy to manually total them up.

Flash 88 and All-Flash 32--yikes!

[tth2]

On 9/18/2022 at 7:17 AM, RareHighGrade said:

Wow, out of 43 books, 33 went down and, in some cases, dropped massively.  If the sales commissions are taken into account, 37 of 43 went down and the devastation is far worse.

I was surprised that it wasn't 43 out of 43 went down, although I guess Seven Seas 5 turning a profit was not that much of a surprise.