The Palos Verdes Collection on HA 2 2

[lhcomics]

On 4/16/2022 at 7:30 AM, jimbo_7071 said:

I don't think the number is on the scale that you're suggesting. I think it's a fairly small pool of collectors that are paying $50K and up for books. I would be surprised if there are even a million total comic book collectors worldwide. Maybe 10,000 people would be willing to spend $10K on a personal grail? I think the number of prospective buyers probably goes way down as the prices get much higher that than. I consider myself a pretty passionate collector, and I doubt that I would ever spend that much on one book. If I did, it would have to be an amazing deal on a personal grail.

Interesting.

Edited April 16, 2022 by lhcomics

[LDarkseid1]

On 4/16/2022 at 11:53 AM, jimbo_7071 said:

I understood your post. My point was that there are far fewer collectors willing to spend $20K, $30K, $40K than there are people willing to spend $10K. Even in that range, to number of prospective buyers is going to drop the closer you get to $50K.

I don't believe that there are anywhere close to 10,000 collectors willing to spend $50,000 on a comic book. There might be, and probably are, 10,000 willing to drop $10K on a comic.

Yeah I personally feel the number from $1K-$10K is extremely larger than that, but just my feeling. Especially with what’s seemed to be an infusion in the last couple years of more solely investment based buyers. And once again, from $50K and under is extremely large!

Edited April 16, 2022 by LDarkseid1

[Robot Man]

On 4/16/2022 at 10:38 AM, sfcityduck said:

Yep.  I've sold a number of $10K books, but the most I paid for one of those is $300.  I am not buying $10K+ books so far.  I can get all the collecting joy I want searching for interesting and unusual books, while staying out of the market for the books that take only money to acquire.

If you were first collecting sometime up to the early 80s, it is probably hard to not own a $10K book.  Really popular books, GSX 1 and IH 181, etc., have inflated beyond anyone's dreams.  No rarity to those books at all.  And the vast majority are not CGC'd, I"m sure, just sitting in some 50+ year olds boxes.

    

[woowoo]

On 4/16/2022 at 12:28 PM, lhcomics said:

Interesting.

Can you believe that your .5 Batman 1 is a 5k book?  

Edited April 16, 2022 by woowoo

[lhcomics]

On 4/16/2022 at 6:06 PM, woowoo said:

Can you believe that your .5 Batman 1 is a 5k book?  

Sold to Mr. Woo per PM. 

[woowoo]

On 4/16/2022 at 6:42 PM, lhcomics said:

Sold to Mr. Woo per PM. 

You make me feel young again how's 2500 for the beat Tec 31 .5 sound

[kimik]

On 4/16/2022 at 12:53 PM, jimbo_7071 said:

I understood your post. My point was that there are far fewer collectors willing to spend $20K, $30K, $40K than there are people willing to spend $10K. Even in that range, to number of prospective buyers is going to drop the closer you get to $50K.

I don't believe that there are anywhere close to 10,000 collectors willing to spend $50,000 on a comic book. There might be, and probably are, 10,000 willing to drop $10K on a comic.

I think the number of collectors willing to spend $50K on a book is actually closer to the 10K mark, and may actually be higher than that based on the price gains we have seen the past two years and purchases I am aware of locally. Some are crypto multi-millionaires, and others are younger successful tech entrepreneurs that can afford bigger books now thanks to exits/IPOs/big earnings wins. I think this will become more prevalent going forward based on the number of younger collectors I see buying more expensive keys/classic covers now at shows. While most of us can remember when you could nab an AF #15 in nice shape for $2500, they will be used to having to pay $50K for the same copy now.

Edited April 18, 2022 by kimik

[tth2]

I'm wondering if the owner is having financial problems or something.  There are some books that are being flipped quite quickly, including some Promise books that are being resold less than one year after they were purchased.  I guess they will help us answer the question whether these books can sustain their initial auction prices. 

There are also a few doubles that are being listed all in the same auction, instead of being sold in a later auction, which seems to indicate a desire to raise money asap.

[LDarkseid1]

On 4/18/2022 at 7:45 AM, tth2 said:

I'm wondering if the owner is having financial problems or something.  There are some books that are being flipped quite quickly, including some Promise books that are being resold less than one year after they were purchased.  I guess they will help us answer the question whether these books can sustain their initial auction prices. 

There are also a few doubles that are being listed all in the same auction, instead of being sold in a later auction, which seems to indicate a desire to raise money asap.

I suspect a good portion of that could just be reselling to buy other stuff. I know I've done that many times lol. Buy books, decide I want something else and sell something I previously bought, maybe even somewhat very recently to help fund another purchase. And even if it means I may take a slight loss on the previous book, now being sold.

Edited April 18, 2022 by LDarkseid1

[Robot Man]

On 4/18/2022 at 8:51 AM, LDarkseid1 said:

I suspect a good portion of that could just be reselling to buy other stuff. I know I've done that many times lol. Buy books, decide I want something else and sell something I previously bought, maybe even somewhat very recently to help fund another purchase. And even if it means I may take a slight loss on the previous book, now being sold.

Looks to like this person is getting out while prices are high. Unless, these are dupes…

For those of you who like to track prices, it would be interesting to see if this person makes any money on his Promise books.

The only Promise book I have seen resell is a Detective #82 CGC 5.0 for $910. On eBay. I don’t know what it sold for on HA. 

[IngelsFan]

On 4/18/2022 at 9:50 AM, Robot Man said:

Looks to like this person is getting out while prices are high. Unless, these are dupes…

For those of you who like to track prices, it would be interesting to see if this person makes any money on his Promise books.

The only Promise book I have seen resell is a Detective #82 CGC 5.0 for $910. On eBay. I don’t know what it sold for on HA. 

 

[Robot Man]

Thanks. So only about a $100. Loss. Oh wait with fees, commission and taxes maybe a little over double that. Seller should probably consider himself lucky.

Not sure on the current value of that one in that shape but the “Promise juice” probably pumped it up quite a bit.

Anybody see any more Promise books sell in the marketplace yet? 

[batman_fan]

One Promise book being re-listed in Batman 45 which originally sold for $7200.  Will be interesting to see what it goes for this round.

The Batman 12 was purchased from Heritage in 2019 for $6600.  I could see this one going higher.

[Mmehdy]

Quite an interesting collection, I wonder if there will be more auctions coming up, Ha keeps hitting it out of the park

[Gotham Kid]

On 4/18/2022 at 10:48 PM, Mmehdy said:

Quite an interesting collection, I wonder if there will be more auctions coming up, Ha keeps hitting it out of the park

but none of this stuff is new to market

[Mmehdy]

On 4/18/2022 at 2:49 PM, Gotham Kid said:

but none of this stuff is new to market

I understand that, but to me it seems incomplete...there probably has to be more...anyone know?

[sfcityduck]

On 4/18/2022 at 11:08 AM, Robot Man said:

 

Anybody see any more Promise books sell in the marketplace yet? 

Promise flippers are getting burned on eBay.  Only one other transaction has made at least lunch money once the fees are factored in.  Some big losses - 20% to 40%:

Marvel Family 43 CGC 9.2 - ebay $549.99 BIN  (sold on Heritage for $750)

Captain Marvel 92 CGC 8.0 - ebay $399.99 BIN (sold on Heritage for $360)

Black Cat 26 CGC 6.0 - ebay $475 BIN (sold on Heritage for $384)

Master 41 CGC 8.0 - ebay $801.36 auction (sold on Heritage for $1020)

Kid Colt Outlaw 5 CGC 8.5 - ebay $525.52 auction (sold on Heritage for $850)

Action 147 CGC 5.5 - ebay $565.17 auction (sold on Heritage for $552)

These aren't the super-high grade books, but given how much publicity the collection got, and how furious the bidding was, hard to see how a quick resell is going to make more than when the books came out fresh.

Edited April 18, 2022 by sfcityduck

[sfcityduck]

P.S. Someone's trying to flip the Phantom Lady 16 (maybe my favorite cover from that run) CGC 9.2 for $21K after buying it last June for $16.8K (a 25% mark up).

There are two other 9.2 and four 9.4s.  So this is high grade but not top of census.  

Probably not a surprise that it has been sitting on eBay since at least March 10.  

 

[Robot Man]

On 4/18/2022 at 4:33 PM, sfcityduck said:

Promise flippers are getting burned on eBay.  Only one other transaction has made at least lunch money once the fees are factored in.  Some big losses - 20% to 40%:

Marvel Family 43 CGC 9.2 - ebay $549.99 BIN  (sold on Heritage for $750)

Captain Marvel 92 CGC 8.0 - ebay $399.99 BIN (sold on Heritage for $360)

Black Cat 26 CGC 6.0 - ebay $475 BIN (sold on Heritage for $384)

Master 41 CGC 8.0 - ebay $801.36 auction (sold on Heritage for $1020)

Kid Colt Outlaw 5 CGC 8.5 - ebay $525.52 auction (sold on Heritage for $850)

Action 147 CGC 5.5 - ebay $565.17 auction (sold on Heritage for $552)

These aren't the super-high grade books, but given how much publicity the collection got, and how furious the bidding was, hard to see how a quick resell is going to make more than when the books came out fresh.

Thanks for tracking that info. I figured as such. Just too quick a turnaround. As far as I'm concerned, even the lower ebay prices are still too high. There is still chum in the water. I predict a bad investment unless you hold for at least a few years which is not how current "investors" look at things. Now, if you bought any from HA in their auctions with the idea that you love the book and want to keep it, that is a different story. We have all paid too much for books we love. 

[jimbo_7071]

On 4/18/2022 at 8:02 PM, Robot Man said:

Thanks for tracking that info. I figured as such. Just too quick a turnaround. As far as I'm concerned, even the lower ebay prices are still too high. There is still chum in the water. I predict a bad investment unless you hold for at least a few years which is not how current "investors" look at things. Now, if you bought any from HA in their auctions with the idea that you love the book and want to keep it, that is a different story. We have all paid too much for books we love. 

Especially when we've paid for highest-graded copies that are only highest-graded because some of the nicest copies have not been slabbed. People were paying crazy prices for some of the highest-graded Timely superhero comics even though very few of the Mile High Timely superhero books have been slabbed. Once they are, many of those Promise copies will become second-highest graded copies overnight.

I'm almost always content with an 8.0 with nice pages. If I ever bid on a highest-graded copy, it's because it's the only high-grade copy I can find. I usually try to avoid highest-graded copies.

Edited April 19, 2022 by jimbo_7071