Action 1 Rocket Copy & Tec 27 CGC 4.5 6 6

[VintageComics]

On 1/22/2022 at 9:38 PM, adamstrange said:

We're all in on it!  

Only, someone forget to tell me. 

Hence why I didn't say 'every'. You are always on my mind. 

[CycleGirl]

On 1/22/2022 at 10:22 AM, 10centcomics said:

Oh wow, here I thought I was an A-lister because they send me their glossy catalogsI'll give them a call on Monday. 

C-Lister here.  I guess once you buy a book or two from them, you get glossy catalogs for life because I'm sure it's been a while since I bought anything from there. It is fun looking at all of those beautiful books. 

Edited January 29, 2022 by CycleGirl

[lou_fine]

On 1/22/2022 at 9:39 AM, tth2 said:

It's just that it makes you wonder how deep and authentic the market really is, or if it's just a big shell game between a few deep pocketed players to create the appearance of ever increasing prices.

But hasn't this pretty much always been the case for seemingly decades now, as I remember the same comments being thrown around back in the 90's about the big time dealers and long before the comic specialty auction houses arrived on the scene.  

[Terry JSA]

 

[sfcityduck]

On 9/12/2022 at 3:20 PM, Terry JSA said:

 

What's the link about?  

[Terry JSA]

On 9/12/2022 at 7:22 PM, sfcityduck said:

What's the link about?  

Press release courtesy of Goldin;

RUNNEMEDE, NJ, SEPTEMBER 12, 2022 — The one-of-a-kind “Rocket Copy” of Action Comics #1, which features the first-ever appearance of the beloved hero Superman, was purchased for a record-breaking $3.4 million. Goldin arranged the private sale in conjunction with Metropolis Comics of New York. The sale price is the highest ever paid for a copy of Action Comics No. 1.

[szav]

On 9/12/2022 at 4:39 PM, Terry JSA said:

Press release courtesy of Goldin;

RUNNEMEDE, NJ, SEPTEMBER 12, 2022 — The one-of-a-kind “Rocket Copy” of Action Comics #1, which features the first-ever appearance of the beloved hero Superman, was purchased for a record-breaking $3.4 million. Goldin arranged the private sale in conjunction with Metropolis Comics of New York. The sale price is the highest ever paid for a copy of Action Comics No. 1.

Good stuff, but with the recent original sale coming in at 3.18 mil not much room for profit.  Interesting they needed Metros help to unload it.

[Aman619]

maybe the Mantle rookie card buyer wants a small selection of the best of the best?

[tth2]

On 9/13/2022 at 8:42 PM, Aman619 said:

maybe the Mantle rookie card buyer wants a small selection of the best of the best?

A 6.0 Action 1 is not even close to the best of the best.

[sfcityduck]

On 9/12/2022 at 4:52 PM, szav said:

Good stuff, but with the recent original sale coming in at 3.18 mil not much room for profit.  Interesting they needed Metros help to unload it.

Buy for $3.18M and sell for $3.4M seven months later?  Sounds like a cash flow motivated sell.  Seller may not have made any profit at all as the difference in price was only 6.5%.  

I wonder if Metro just bought it themselves.  If so, they can say they paid the highest price ever for an Action 1.

[Aman619]

On 9/13/2022 at 10:30 AM, tth2 said:

A 6.0 Action 1 is not even close to the best of the best.

best of the best of what's available?

 

[sfcityduck]

On 9/13/2022 at 8:27 AM, Aman619 said:

best of the best of what's available?

 

Best of the best of the rest that's not the best of the best?

[Bronty]

On 9/13/2022 at 10:32 AM, sfcityduck said:

Buy for $3.18M and sell for $3.4M seven months later?  Sounds like a cash flow motivated sell.  Seller may not have made any profit at all as the difference in price was only 6.5%.  

I wonder if Metro just bought it themselves.  If so, they can say they paid the highest price ever for an Action 1.

Breaking even over the past seven months as most things have slid down is really not a bad result if a sale was required for cash flow reasons.    

[Aman619]

Gee. Looking at the sale price, seems the flip was almost exactly the Heritage price what plus about 10% to cover broker fees. So seller recouped 100% of his money?

 

3.18M + 10% (318K) = 3.498M. 

[Bronty]

On 9/13/2022 at 4:12 PM, Aman619 said:

Gee. Looking at the sale price, seems the flip was almost exactly the Heritage price what plus about 10% to cover broker fees. So seller recouped 100% of his money?

 

3.18M + 10% (318K) = 3.498M. 

That's what I was thinking too.   Wasn't willing to take a loss, so if he could get his money back the commissions had to be on top.

[sfcityduck]

On 9/13/2022 at 1:14 PM, Bronty said:

That's what I was thinking too.   Wasn't willing to take a loss, so if he could get his money back the commissions had to be on top.

I bet the commission was 5% and the seller got a small profit.  5% of $3.4M = $170K yielding a profit of exactly $50K to the seller over the original purchase price. Easy money for the dealers, seller's happy, and may work out for a buyer taking a longer term risk. If that book reappears on the market in a year or so, it might end up suffering "Pay Copy Syndrome".

 

[lou_fine]

On 9/12/2022 at 4:52 PM, szav said:

Good stuff, but with the recent original sale coming in at 3.18 mil not much room for profit.  Interesting they needed Metros help to unload it.

Not at all surprised that Metro would be involved since they have the longest and one of the deepest connections in the comic book grapevine, especially when it comes to knowing where all of the big money books are and the deep pocketed collectors who are willing to pay for them.  

I believe that Metro is involved in virtually almost every single high dollar value Action 1 sale (save for one or two) during the past few decades, whether it be from the buying, selling, or brokerage end of the transaction.  

[szav]

On 9/13/2022 at 1:51 PM, lou_fine said:

Not at all surprised that Metro would be involved since they have the longest and one of the deepest connections in the comic book grapevine, especially when it comes to knowing where all of the big money books are and the deep pocketed collectors who are willing to pay for them.  

I believe that Metro is involved in virtually almost every single high dollar value Action 1 sale (save for one or two) during the past few decades, whether it be from the buying, selling, or brokerage end of the transaction.  

I meant interesting more from the angle that Goldin couldn’t manage it themselves despite trying to break into the comic market.  Is it a sign they’re giving up?  

Did someone say it was Goldin’s owner who bought the book, the guy who owns the Mets right?  I might be making that up.

[lou_fine]

On 9/13/2022 at 1:14 PM, Bronty said:

On 9/13/2022 at 1:12 PM, Aman619 said:

Gee. Looking at the sale price, seems the flip was almost exactly the Heritage price what plus about 10% to cover broker fees. So seller recouped 100% of his money?

 

3.18M + 10% (318K) = 3.498M. 

That's what I was thinking too.   Wasn't willing to take a loss, so if he could get his money back the commissions had to be on top.

Maybe it's just me, but I guess I must have learned my arithmetic a slightly different way:  

$3.4M - 10% ($340K) = $3.06M

$3.06M - $3.18M = ($0.12M)

For a possible loss of $120,000 if there was a 10% commission fee involved which might not actually be the case here.  

[Aman619]

Yeah. I did the math wrong. But only if the book was offered at a price, and not a “ here’s what it will take, my 3.18 plus as much as the brokers will settle for”.