Forbes Article: What The Hell Is Going On In The Collectible Comics Market? 8 8

[Ares]

https://www.forbes.com/sites/robsalkowitz/2021/06/23/what-the-hell-is-going-on-in-the-collectible-comics-market/?sh=1c3374fa307c

 

2020 was a pretty good year for many investments, but one class of assets has seen nosebleed-level growth that has shocked even long-time market watchers: vintage comics and original comic book art. Though there is no market index to quantify growth in this area, the results of large public auctions provide some transparency into the value that buyers place on a variety of benchmark items. On that basis, the evidence is stark. Last week, Heritage Auctions demolished records and shattered expectations with a $22.4 million haul from its recent sale of high grade collectible comics, surpassing its recent high water mark of $16.5 million set in April.

The auction results were led by a new “pedigree” collection called The Promise Collection, featuring nearly 5,000 comics that were bought new off the newsstands in the 1940s and preserved in perfect condition for the past 70 years. 181 of those books sold in the June auction realized $7.1 million in just four hours; an additional 93 books added $800,000 to that total the next day, and the remainder of the collection will be auctioned throughout 2021 and 2022. A mid-grade (5.0) copy of Detective Comics #27, featuring the debut of Batman sold for $1.125 million – not a record, because higher grade copies go for more, but still a landmark. And one-of-a-kind works of original comic artwork continued their steep price increases with iconic pieces setting new highs in the upper six-figures.

Anecdotal reports from dealers and collectors suggest that prices in smaller auctions, public sales and private transactions have increased well over 100% across the board in recent months, with some highly desired or unusual items seeing growth a magnitude higher. Facebook groups and private forums are overflowing with comments of seasoned collectors expressing surprise, dismay, and occasionally delight at the skyrocketing prices of items that, until recently, were not seen as top-tier collectibles, raising fears that ordinary collectors could get priced out of the hobby.

Several factors may be contributing to the boom. Though the pandemic sidelined in-person conventions and auctions where many expensive collectibles changed hands, sometimes through impulse purchases, more serious buyers had the time and focus to pursue their collections online. Rising markets, including in areas like cryptocurrency, may have lead to a “wealth effect,” encouraging people to open their wallets wider for discretionary passion purchases. Also, the practice of getting the condition of collectible comics graded by third party agencies like Comics Guarantee Corporation (CGC) has now been around for nearly two decades, painting a clearer picture of the exact number of copies of rare issues in existence and painting targets on certain high-grade issues for blue chip buyers.

Beyond that are extrinsic factors. Collectible comics are a store of value, and one that can be easily stored and transported, making the format attractive to individuals who prefer to maintain part of their wealth discretely. There’s also the matter of momentum. Big gains in the market bring in money that’s seeking returns, irrespective of the intrinsic value of the underlying asset. Comics are ordinarily not the easiest market to crack because of the huge amount of esoteric knowledge necessary to identify what makes certain books collectible, but all bets are off if everything is going up in value in huge chunks

 

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[FlyingDonut]

That is a shockingly well written article.

[october]

5 minutes ago, FlyingDonut said:

That is a shockingly well written article.

It is.

The title also wasn't some idiotic cliche like "Biff! Bang! Pow! Holy rising comic prices, Batman!", which immediately places it above 90% of the junk churned out on the comic market.

[grendelbo]

14 minutes ago, FlyingDonut said:

That is a shockingly well written article.

+1

[Key Largo Comics]

Great article. Glad we got in before the card guys. 

[kav]

I dont need Forbes to tell me this.

[thunsicker]

2 minutes ago, kav said:

I dont need Forbes to tell me this.

I’m sure their audience is long time comic collectors like us, Kav.

[kav]

Just now, thunsicker said:

I’m sure their audience is long time comic collectors like us, Kav.

you got me that time.

[piper]

Well written article.

[aardvark88]

Lon Allen will not say anything negative about the vintage comic book and original art market. Are we already at the top of the market?

 

[onlyweaknesskryptonite]

36 minutes ago, kav said:

I dont need Forbes to tell me this.

Maybe, but according to Greggy you do seem to repeat what she said a lot. 

 

 

This is a well written article. This just adds even more attention to an industry that is already clearly flooding at an exponential rate. Just makes you wonder where it is all headed. 

[kav]

2 minutes ago, onlyweaknesskryptonite said:

Maybe, but according to Greggy you do seem to repeat what she said a lot. 

I can repeat what I want! 

[adamstrange]

2 hours ago, october said:

It is.

The title also wasn't some idiotic cliche like "Biff! Bang! Pow! Holy rising comic prices, Batman!", 

I'm kinda disappointed, tbh.  

[Beige]

I think we will see more growth on the back of this investment interest - be it by private citizen or investors.  But on books not with already ludicrously inflated prices.

 

At some point the fall WILL happen.

I'd imagine 'solid' Key books will fare reasonably well - probably still being higher than say, prices of 18 months ago.

 

Spec books will follow their usual trend.

 

Minor Keys, well, they are going to get hit hard. Very hard.

 

It could be a rough  2-3 years coming up, with some people potentially sustaining heavy financial losses.

 

It certainly is a time of "buyer beware".

 

ASM #300 already showing the effects:

 

ASM #101 to follow?

 

ASM #300 at $8800 for a 9.8 and ASM #101 at $24K in 9.8 would seem to be ones to that are at too high a price to be sustainable (amongst many).

It may be interesting to see if #101 follows #300.

Certainly I'd be selling ASM #300 asap -  an example of an obviously way over-valued book.

 

I leave you with this one - I'm sure you have already seen it:

$264,000 anyone for Ghost Rider?   Anyone?  Madness.

 

Mays Top Bronze Prices:

TOP 20 Bronze (monthly)

Ranked by top individual sale price.

Comic Title	Issue	Grade		Publisher	Notes	CGC ID	Price	Date
Amazing Spider-Man, The (1963)	No.129	9.8		Marvel Comics		0361436004	$33,600	May 2021
Incredible Hulk, The (1962-1999)	No.181	9.6		Marvel Comics		0994535002	$31,550	May 2021
Strange Tales (1951-1976)	No.169	9.8		Marvel Comics		2093438016	$27,000	May 2021
Giant-Size X-Men (1975)	No.1	9.4		Marvel Comics		3814539001	$22,400	May 2021
Incredible Hulk, The (1962-1999)	No.181	9.4		Marvel Comics		1032370008	$21,655	May 2021
Strange Tales (1951-1976)	No.169	9.8		Marvel Comics		1973325004	$21,600	May 2021
Amazing Spider-Man, The (1963)	No.129	9.8		Marvel Comics		1620641001	$20,000	May 2021
Incredible Hulk, The (1962-1999)	No.181	9.2		Marvel Comics		0013796019	$19,800	May 2021
Marvel Spotlight (1971-1981)	No.5	9.2		Marvel Comics		2055461003	$18,000	May 2021
Incredible Hulk, The (1962-1999)	No.181	9.0		Marvel Comics		3796772002	$15,000	May 2021
Incredible Hulk, The (1962-1999)	No.181	9.2		Marvel Comics		3833019001	$14,500	May 2021
Incredible Hulk, The (1962-1999)	No.181	9.0		Marvel Comics		1208926011	$14,400	May 2021
Incredible Hulk, The (1962-1999)	No.181	9.0		Marvel Comics		1055471002	$14,000	May 2021
Giant-Size X-Men (1975)	No.1	9.2		Marvel Comics		1221619001	$13,750	May 2021
Giant-Size X-Men (1975)	No.1	9.2		Marvel Comics		1055555014	$13,600	May 2021
Incredible Hulk, The (1962-1999)	No.181	9.0		Marvel Comics		2135874010	$12,830	May 2021
Incredible Hulk, The (1962-1999)	No.181	8.5		Marvel Comics		2014386003	$12,750	May 2021
Giant-Size X-Men (1975)	No.1	9.2		Marvel Comics		1419469001	$12,619	May 2021
Incredible Hulk, The (1962-1999)	No.181	8.5		Marvel Comics		3796772001	$12,500	May 2021
Incredible Hulk, The (1962-1999)	No.181	8.5		Marvel Comics		0271564004	$12,500	May 2021

 

And Modern:

Comic Title	Issue	Grade		Publisher	Notes	CGC ID	Price	Date
Spider-Man (1990-1998)	No.1	9.8		Marvel Comics	Sgnt series / Platinum Edition / Signed by Lee / McFarlane	1118421001	$36,099	May 2021
Teenage Mutant Ninja Turtles (1984-1993)	No.1	8.5		Mirage Publ		0500898001	$23,300	May 2021
Teenage Mutant Ninja Turtles (1984-1993)	No.1	7.0		Mirage Publ		1218367001	$12,516	May 2021
X-Men, The (1963-1981)	No.129	9.8		Marvel Comics	Sgnt series / Signed by Lee / Claremont	1146667001	$11,550	May 2021
X-Men, The (1963-1981)	No.129	9.8		Marvel Comics	Sgnt series / Signed by Lee / Claremont / Austin	1235667011	$11,500	May 2021
Amazing Spider-Man, The (1963)	No.300	9.8		Marvel Comics	Sgnt series / Signed by Lee / McFarlane	1056288001	$11,000	May 2021
Wolverine (2010)	No.1	9.8		Marvel Comics	Sgnt series / Campbell Variant Cover / Signed by J. Scott Campbell	1320313001	$10,102	May 2021
X-Men, The (1963-1981)	No.129	9.8		Marvel Comics		2129304019	$10,100	May 2021
Amazing Spider-Man, The (1963)	No.300	9.8		Marvel Comics	Sgnt series / Signed by Todd McFarlane	2567200001	$10,000	May 2021
Gobbledygook (1984)	No.2	8.5		Mirage Stu...	Sgnt series / Signed / Authenticated by Kevin Eastman	2497973002	$9,600	May 2021
Albedo (1984-1991)	No.2	9.2		Thoughts a...		3825424005	$9,200	May 2021
Amazing Spider-Man, The (1963)	No.300	9.8		Marvel Comics		3786339004	$8,500	May 2021
Amazing Spider-Man, The (1963)	No.300	9.8		Marvel Comics		1127603001	$8,305	May 2021
Amazing Spider-Man, The (1963)	No.300	9.8		Marvel Comics		0124679001	$8,100	May 2021
Amazing Spider-Man, The (1963)	No.300	9.8		Marvel Comics		1208556001	$8,000	May 2021
Star Wars: Vader Down (2016)	No.1	9.6		Marvel Comics	Zdarsky Sketch Cover	1474470006	$7,800	May 2021
Amazing Spider-Man, The (1963)	No.300	9.8		Marvel Comics		2005517002	$7,652	May 2021
Silver Surfer: Black (2019)	No.2	9.8		Marvel Comics	Camuncoli Sketch Cover	3763890002	$7,500	May 2021
Ultimate Fallout (2011)	No.4	9.2		Marvel Comics	Newsstand Edition	3809396001	$7,000	May 2021
X-Men, The (1963-1981)	No.129	9.8		Marvel Comics		1476761010	$6,800	May 2021

 

ASM #300......

Edited June 24, 2021 by Beige

[kav]

3 hours ago, october said:

The title also wasn't some idiotic cliche like "Biff! Bang! Pow! Holy rising comic prices, Batman!",

[GreatCaesarsGhost]

4 hours ago, onlyweaknesskryptonite said:

Maybe, but according to Greggy you do seem to repeat what she said a lot. 

[vheflin]

8 hours ago, Ares said:

Several factors may be contributing to the boom. Though the pandemic sidelined in-person conventions and auctions where many expensive collectibles changed hands, sometimes through impulse purchases, more serious buyers had the time and focus to pursue their collections online. Rising markets, including in areas like cryptocurrency, may have lead to a “wealth effect,” encouraging people to open their wallets wider for discretionary passion purchases. Also, the practice of getting the condition of collectible comics graded by third party agencies like Comics Guarantee Corporation (CGC) has now been around for nearly two decades, painting a clearer picture of the exact number of copies of rare issues in existence and painting targets on certain high-grade issues for blue chip buyers.

If the crypto goes down and stays down, so goes collectibles.

[Microchip]

3 hours ago, Ares said:

Several factors may be contributing to the boom. Though the pandemic sidelined in-person conventions and auctions where many expensive collectibles changed hands, sometimes through impulse purchases, more serious buyers had the time and focus to pursue their collections online.

Her might be onto something here.   Unless a big sale happens through a source tracked by GPA etc, then it never really happened.   The market, and the market price remain ignorant, and unaffected by the sale.   As opposed the quick and rapid price escalation we're seeing.   

No news, no FOMO buying, and driving prices up 

[Spawnfreak]

7 hours ago, kav said:

I can repeat what I want! 

And you do, and we all like it!

[theCapraAegagrus]

Well written, but like other markets, there will be a downturn soon. I don't think that an outright 'crash' will occur until the boomers are gone. Once the nostalgic collectors are done, those dusty old books will lose much of their luster.