Congrats 4 4

[Guest Race]

Yes, only Glen could think of a way to PREVENT customers from buying art -- by demanding only crypto, which only a very small minority of people possess due to, oh, little problems like excessive volatility, difficulty in buying and the constant threat of cybertheft.

Congrats, or something.

Edited January 28, 2022 by Guest

[GotSuperPowers?]

I'm guessing it's the consigner of the art that is actually doing the crypto bit, but I could be wrong.

[thehumantorch]

On 1/25/2022 at 6:32 PM, Race said:

Yes, only Glen could think of a way to PREVENT customers from buying art -- by demanding only crypto, which only a very small minority of people possess due to, oh, little problems like excessive volatility, difficulty in buying and the constant threat of cybertheft.

Congrats, or something.

I know this one

 

[artdealer]

On 1/25/2022 at 8:32 PM, Race said:

Yes, only Glen could think of a way to PREVENT customers from buying art -- by demanding only crypto, which only a very small minority of people possess due to, oh, little problems like excessive volatility, difficulty in buying and the constant threat of cybertheft.

Congrats, or something.

And it’s only January.

[Will_K]

I'm not in the business of awarding prizes.  But I saw those earlier today and thought I had a hard enough time valuing art before...

[Unstoppablejayd]

On 1/25/2022 at 8:32 PM, Race said:

Yes, only Glen could think of a way to PREVENT customers from buying art -- by demanding only crypto, which only a very small minority of people possess due to, oh, little problems like excessive volatility, difficulty in buying and the constant threat of cybertheft.

Congrats, or something.

they were available for less in cash last week

[John E.]

On 1/25/2022 at 8:19 PM, Will_K said:

I'm not in the business of awarding prizes.  But I saw those earlier today and thought I had a hard enough time valuing art before...

oh god that is so true 👆

[New School Fool]

On 1/26/2022 at 1:35 AM, GotSuperPowers? said:

I'm guessing it's the consigner of the art that is actually doing the crypto bit, but I could be wrong.

They were available for non crypto payments a couple of weeks ago.

I initially logged in to create a post like this I'm glad I'm not the only one who feels this way. An incredibly greedy and isolating move by Glen. He will never get my business in the future.

I fail to see how this move is not motivated by greed. Or the unfounded fear that the market is being flooded by crypto cash. Where did this rumour come from actually and where are the hard cold facts? From what I know, crypto enthusiasts are more likely to put their money into NFTs, urban or contemporary art. A market  which has is far less niche, has a larger following and yields higher returns than comic art.

[Rick2you2]

So, he’s only taking etherium? At first, I thought he meant ethyl, like in gasoline.

Has he refused US funds for anything?

 

[Hockeyflow33]

 

[kbmcvay]

Here is the art in question. 

SPIDER-MAN 85 COVER (FRENCH VARIANT) by Tim Sale (panelpageart.com)

[gumbydarnit]

What's the logic here, couldn't he take the money from selling art and just buy the crypto himself?

[Bird]

On 1/26/2022 at 8:39 AM, kbmcvay said:

Here is the art in question. 

SPIDER-MAN 85 COVER (FRENCH VARIANT) by Tim Sale (panelpageart.com)

there are more than just that one. The Bachalo Dr Strange cover was another.

[Chief1332]

Forgive my ineptness, but is there any tax incentive for requesting payments via crypto or other such noncash forms of payment?  Or maybe currency exchange rates?  Maybe the seller thinks the crypto is due for a huge rebound, and this could be like "having his cake and eating it too."

[Bird]

On 1/26/2022 at 8:43 AM, gumbydarnit said:

What's the logic here, couldn't he take the money from selling art and just buy the crypto himself?

I have no idea, but I imagine he is trying to appeal to the crypto guys and this way they can just transfer directly? Again, just guessing.

[Twanj]

On 1/26/2022 at 9:05 AM, Bird said:

there are more than just that one. The Bachalo Dr Strange cover was another.

[Twanj]

On 1/26/2022 at 8:43 AM, gumbydarnit said:

What's the logic here, couldn't he take the money from selling art and just buy the crypto himself?

Buy low, markup 3-8x, sell high.

[kbmcvay]

On 1/26/2022 at 9:10 AM, Twanj said:

Thanks. Somebody posted the Sale cover on Facebook yesterday, which is why I figured it was just the one piece.

[gumbydarnit]

Glen better update his prices constantly or he'll inadvertently have a half price sale during a volatile crypto day : )   

[D Parker]

On 1/26/2022 at 8:43 AM, gumbydarnit said:

What's the logic here, couldn't he take the money from selling art and just buy the crypto himself?

It's an attempt to tease out more money -- if you check the Etherium exchange rates these pieces are now more expensive than they were when priced with the US dollar.

I can see the thinking.  There are people who stumbled into some easy money with cryptocurrencies.  If you bought in cheap (say, $100/coin) you can look at that Amazing Spider-Man cover as costing you $3,500.  What a bargain!  It's not that much different from trading a piece to a dealer to facilitate a purchase.  You know it's being undervalued but if you bought in cheap and want the new piece badly enough it's easy to justify in your mind.

With crypto being so volatile you're trading some risk for a more stable asset. I think it's an interesting gamble.  I'd love to see how things play out if the currency crashes after a customer makes payment but before the art is shipped.  There are some dealers I would trust to send out the art and some I wouldn't.