Question about buying collections 6 6

[GMcGurty]

Recently, I decided to sell my personal collection. In doing so, I found I rather enjoy the whole process of grading each one, listing them and selling them. (Making some money is nice too!) Eventually, I’ll need more inventory, so I was thinking about buying some collections, but I really don’t know what would be a fair offer. I really don’t wanna insult anyone, but I don’t wanna screw myself either. So many people selling comic books nowadays think they are sitting on a gold mine and have priced each and every single comic. In  looking at their collections, I’d see a few that might sell quickly, but I think the majority would sell quite slowly. I’ve been offering around 10% of what the max potential value is, but with some collections, even that seems high!! (The guys seem quite insulted!!)  Anyone willing to give me a few pointers??? 

[paperheart]

post in the appropriate forum

[▫️]

On 5/25/2022 at 12:08 AM, GMcGurty said:

Recently, I decided to sell my personal collection. In doing so, I found I rather enjoy the whole process of grading each one, listing them and selling them. (Making some money is nice too!) Eventually, I’ll need more inventory, so I was thinking about buying some collections, but I really don’t know what would be a fair offer. I really don’t wanna insult anyone, but I don’t wanna screw myself either. So many people selling comic books nowadays think they are sitting on a gold mine and have priced each and every single comic. In  looking at their collections, I’d see a few that might sell quickly, but I think the majority would sell quite slowly. I’ve been offering around 10% of what the max potential value is, but with some collections, even that seems high!! (The guys seem quite insulted!!)  Anyone willing to give me a few pointers??? 

You ever left a lengthy voicemail on a wrong number? Yeah…

[theCapraAegagrus]

[CGC Mike]

Moving this thread out of the movie section.

[1Cool]

On 5/24/2022 at 5:08 PM, GMcGurty said:

Recently, I decided to sell my personal collection. In doing so, I found I rather enjoy the whole process of grading each one, listing them and selling them. (Making some money is nice too!) Eventually, I’ll need more inventory, so I was thinking about buying some collections, but I really don’t know what would be a fair offer. I really don’t wanna insult anyone, but I don’t wanna screw myself either. So many people selling comic books nowadays think they are sitting on a gold mine and have priced each and every single comic. In  looking at their collections, I’d see a few that might sell quickly, but I think the majority would sell quite slowly. I’ve been offering around 10% of what the max potential value is, but with some collections, even that seems high!! (The guys seem quite insulted!!)  Anyone willing to give me a few pointers??? 

I'm confused - are you asking us how you can offer 10% of maximum value of a collection?  What defines maximum value?  If you are offering 10% of what they want then I don't think anyone can help you avoid a pissed off seller.  Not to say quite a few sellers set their prices way too high but offering $5,000 for a collection they valued at $50,000 is not going to go well 99.9% of the time.  Are you asking what is a fair offer for a collection?

[ThothAmon]

Buying a collection requires trust on both sides. Be honest and explain your reasoning behind the offer and you just might walk away with the goods. 

[shadroch]

Lesson One.    Don't buy collections.  Cherry pick them. .  Well over half the books printed in the last thirty years are worthless.  Learn the economics of dealing.  It might seem foolish to offer $900 for forty books when you can buy all 800 books  for a thousand  but that is the difference between a successful dealer and somebody who is drowning in unsold stock.

Edited May 25, 2022 by shadroch

[troydivision1]

I have purchased three collections (one was a guy selling his stuff before divorce was final, one was a police officer selling a collection seized from a drug dealer, and one was a kid moving to New York) over the years.

What I learned after the first two collections...

IF:
I can identify 10% of the total collection (10 out of 100 comics for example) that I can immediately sell on eBay that will cover their asking price for all the comics
AND
Those remaining 90% are easy sells at over $5 each

Otherwise I will just try to make deals for the keys I want for myself / know I can flip.
Ain't no one got time to sell mid-grade non-key floppies on eBay...

Edited May 25, 2022 by Troy Division

[GMcGurty]

Thanks to those that left thoughtful replies. Sorry if I was confusing or too lengthy for the others. 
 

After taking a 30 year hiatus from buying comics I see an awful lot of comics that are  just dollar bin comics. It just seems like sellers are looking at EBay or the Price Guide and are thinking every one of them are gonna sell at a particular value. If a seller thinks his collection is worth $5.000, but I only see a handful that might be quick sellers, I can’t see paying 50-75% of that value. ( of course, if the seller was sitting on a silver age collection, the circumstances would be different and I could see offering 60-75% of the value!) 

Anyways, I was just seeing what people’s thought was on things! Thanks! 

 

[revat]

So much of it depends on how you sell, how much time/space/money you can dedicate to it.

I haven't bought a ton of large collections but here's how I look at it, assuming they want you to buy the whole collection.

Most collections that are longboxes or more are mostly junk with a few good books sprinkled in.  So if I'm going through it...

1.  make a mental note of the good books

2.  Make a note of how much can I realistically sell those good books for (be conservative, your guessitmates could be wrong).  

3.  Calculate your preferred profit margin, then make an offer based on just the good books for the whole lot.  It might depend on dollar value, might depend on percentage profit, that's up to the individual.

4.  Explain that some books will be sold for profit, some will be kept for your collection, some will be sold at a loss, and some will probably be donated, do not be specific about what or how many.  Let them know that's why you're offering what you're offering, it takes a ton of time and effort to organize and market and sell books individually (assuming they're not already knowledgeable).  Let them know its tough to get maximum value for a big lot, because no individual would want that exact grouping of books for their personal collection, and that's who the maximum payers are, people who want books for their collection.

5.  When you make your offer, literally offer him the cash in their face, exact change, the biggest possible bills, 20's being the smallest bills you show.  It is more tempting for them when they are literally looking at a stack of cash.

6.  Mention that you will move all the boxes out today (if that's the truth).  

7.  If they deny you and you're about to leave, you can offer to leave a standing offer if it is logistically reasonable, for like a month.  "If you get a better offer than mine, of course sell to them.  But in a month if you don't, call me and I'll bring cash and my truck."

8.  Dirtier trick:  Ideally, if prospective seller have a significant other around, make your offer loud enough for them to hear, especially the part about moving all the boxes/books out TODAY.  This also works great at yard sales for nearly anything.

So this way you essentially guarantee your preferred profit, and any of the extra you sell is a bonus (or you don't mind donating it).  

[thehumantorch]

On 5/24/2022 at 3:08 PM, GMcGurty said:

Recently, I decided to sell my personal collection. In doing so, I found I rather enjoy the whole process of grading each one, listing them and selling them. (Making some money is nice too!) Eventually, I’ll need more inventory, so I was thinking about buying some collections, but I really don’t know what would be a fair offer. I really don’t wanna insult anyone, but I don’t wanna screw myself either. So many people selling comic books nowadays think they are sitting on a gold mine and have priced each and every single comic. In  looking at their collections, I’d see a few that might sell quickly, but I think the majority would sell quite slowly. I’ve been offering around 10% of what the max potential value is, but with some collections, even that seems high!! (The guys seem quite insulted!!)  Anyone willing to give me a few pointers??? 

10% of the value?  Unless the collection is trash that's pretty low.  Would you like an offer of 10% on your collection?

[ramrodcar]

On 5/25/2022 at 11:39 AM, thehumantorch said:

10% of the value?  Unless the collection is trash that's pretty low.  Would you like an offer of 10% on your collection?

I'd take it if I get to pick the 10% of books I sell you

[lordbyroncomics]

On 5/24/2022 at 5:08 PM, GMcGurty said:

Recently, I decided to sell my personal collection. In doing so, I found I rather enjoy the whole process of grading each one, listing them and selling them. (Making some money is nice too!) Eventually, I’ll need more inventory, so I was thinking about buying some collections, but I really don’t know what would be a fair offer. I really don’t wanna insult anyone, but I don’t wanna screw myself either. So many people selling comic books nowadays think they are sitting on a gold mine and have priced each and every single comic. In  looking at their collections, I’d see a few that might sell quickly, but I think the majority would sell quite slowly. I’ve been offering around 10% of what the max potential value is, but with some collections, even that seems high!! (The guys seem quite insulted!!)  Anyone willing to give me a few pointers??? 

Here is what you want to look for in collections:

- Secret Defenders (this title never goes down in the speculator market)

- Sleepwalker   (big spec on this sleeper series, as recently revealed on YouTube's own Very Gary Comics)

-  Nomad           (not the mini but the ongoing series)
-  Non-Marvel Stan Lee comics    (hugest investment in comics right now, these are getting scarce. I'm talking Soldier Zero, Stan Lee's Mighty 7, Chikara the Invincible, etc. etc. Solarman #1 which WAS from Marvel is a big sleeper right now)

I don't mind sharing what I've been observing in the Market. These other posters are being really snarky and I just wanted to help, you know? Happy Hunting!

[shadroch]

Waving money in my face won't close any deals but it might close a door or two.  I find it insulting.  I'm asking $3,000 but you think the sight of 25 hundred dollar bills is going to make me swoon, and appealing to anyone else but me is another deal breaker.

Aside from that, that is some solid advice.

[revat]

On 5/26/2022 at 6:15 PM, shadroch said:

Waving money in my face won't close any deals but it might close a door or two.  I find it insulting.  I'm asking $3,000 but you think the sight of 25 hundred dollar bills is going to make me swoon, and appealing to anyone else but me is another deal breaker.

Aside from that, that is some solid advice.

I mean ideally this strategy is for people trying to move their whole collection, not dealers or up-to-date collectors trying to sell individual books for profit.
 

people who aren’t into comics or haven’t been in a while who want to rid of what they have. All of it.  Ideally all of it at once.   

[badback83]

On 5/26/2022 at 9:15 PM, shadroch said:

Waving money in my face won't close any deals but it might close a door or two.  I find it insulting.  I'm asking $3,000 but you think the sight of 25 hundred dollar bills is going to make me swoon, and appealing to anyone else but me is another deal breaker.

Aside from that, that is some solid advice.

Do you mean literally pulling money out and putting it on the table.  I’ve had people do this to me over the years and yes, it irritates me.  During mid-negotiation I mean.  A stack of money doesn’t impress me, especially when someone is cocky about it.

[ramrodcar]

On 5/26/2022 at 8:15 PM, shadroch said:

Waving money in my face won't close any deals but it might close a door or two.  I find it insulting.  I'm asking $3,000 but you think the sight of 25 hundred dollar bills is going to make me swoon, and appealing to anyone else but me is another deal breaker.

Aside from that, that is some solid advice.

Unless the seller is a meth head, then you just get stabbed and robbed.

I agree, this tactic is trashy, especially when the seller usually has some emotional/nostalgic connection to the books they're selling.

[EastEnd1]

I've won over plenty of sellers by agreeing NOT to cherry pick and taking the whole thing.  Depends on the collection of course, but gives me an advantage over most other buyers who almost always want to cherry pick.  Also gets me a much lower per book price.  And I have no problem moving the drek in bulk at auction (God forbid trying to sell that stuff myself!)... I usually make money even on the drek. 

[FlyingDonut]

On 5/27/2022 at 11:12 AM, EastEnd1 said:

I've won over plenty of sellers by agreeing NOT to cherry pick and taking the whole thing.  Depends on the collection of course, but gives me an advantage over most other buyers who almost always want to cherry pick.  Also gets me a much lower per book price.  And I have no problem moving the drek in bulk at auction (God forbid trying to sell that stuff myself!)... I usually make money even on the drek. 

I have a 2nd and Charles near me that will take everything. Yes, I may get a dime per book, but they're out the door, and I can always pick up a book or two to read on the deck.