Can someone explain this ComicConnect auction result Savage She-Hulk 1? 0

[Bluemedgroup]

Ok, so this seems extremely fishy.  Savage She-Hulk 1 is a common book in 9.8, 2500+ copies in the grade.  Regularly sells for $600-700 on the bay. 

CC hammer hits at $2300???? I've seen Heritage do shenanigans, but CC??  WTH....

[D84]

Shill bidding? 

[THE_BEYONDER]

Seems legit 

[THE_BEYONDER]

On 10/2/2022 at 11:21 AM, D84 said:

Shill bidding? 

What kind of muppet puts a bid above $700 on this book?

[D2]

On 10/2/2022 at 11:00 AM, Bluemedgroup said:

Ok, so this seems extremely fishy.  Savage She-Hulk 1 is a common book in 9.8, 2500+ copies in the grade.  Regularly sells for $600-700 on the bay. 

CC hammer hits at $2300???? I've seen Heritage do shenanigans, but CC??  WTH....

I’ve also seen some weird stuff going on with CC, not this past auction, but the month prior. Some really odd, really high wins. 

[Pantodude]

The newsstand version has often gone for up to 80% MORE than the direct version in 9.8.  Mistaking it for a newwstand could be a part of it, but even then....wow.   For example, GPA's 9/15/22 for $900 = ebay newssstand 9.8 sale, as was GPA's 9/3/22 sale for $898, 8/23/22 sale for $950, and 8/22/22 sale for $1100, and on and on, including GPA's 7/29/22 sale for $1295, all considerably higher than surrounding direct sales at the time. 

But in light of most recent sales, CC's 9/22/22 sale for $2300 (which was for a direct edition) exceeded the premium that could have been expected for a newsstand by quite a bit.  

Edited October 3, 2022 by Pantodude

[THE_BEYONDER]

On 10/2/2022 at 8:13 PM, Pantodude said:

The newsstand version has often gone for 50%-80% MORE than the direct version in 9.8.  Mistaking it for a newwstand could be a part of it, but even then....wow.   For example, GPA's 9/15/22 for $900 = ebay newssstand 9.8 sale, as was GPA's 9/3/22 sale for $898, 8/23/22 sale for $950, and 8/22/22 sale for $1100, and on and on, including GPA's 7/29/22 sale for $1295, all considerably higher than surrounding direct sales at the time. 

But in light of most recent sales, CC's 9/22/22 sale for $2300 (which was for a direct edition) exceeded the premium that could have been expected for a newsstand by quite a bit.  

To approach $2600....I would think the buyer would not only believe it to be a newsstand, but a double cover as well.  
 

No way the seller gets paid 

[Bluemedgroup]

On 10/2/2022 at 7:27 PM, THE_BEYONDER said:

To approach $2600....I would think the buyer would not only believe it to be a newsstand, but a double cover as well.  
 

No way the seller gets paid 

I've actually never purchased from ComicConnect or Heritage.  To be honest, it is also because both claim that winning bids are "binding and enforceable legal contract".  So just how strict are they?  Have they ever come for a buyer's knees?From the sounds of what you said, I am guessing not?  

[THE_BEYONDER]

On 10/3/2022 at 12:16 AM, Bluemedgroup said:

I've actually never purchased from ComicConnect or Heritage.  To be honest, it is also because both claim that winning bids are "binding and enforceable legal contract".  So just how strict are they?  Have they ever come for a buyer's knees?From the sounds of what you said, I am guessing not?  

I’ve never used either.  Maybe someone could chime in on what happens if you don’t pay. I assume you get the boot & lose buying/selling privileges.  I doubt it goes further than that.

[Domo Arigato]

I've never been interested in that book/series........but wasn't it a dollar bin turd not that many years ago?

 

 

[bronze johnny]

We can speculate about what happens with auctions that raise questions until the end of time. Greater transparency in auctions is required to answer questions like this. Who’s bidding on the books? Is the auction house or an entity that the owners of an auction house have a proprietary interest in, bidding on books in the auction? Are the owners themselves bidding on the books or original art? Bidders should have this information prior to participating in an auction that should be posted in a place that is easily and publicly viewed by everyone:

The owner of this book/original art is participating in the auction

An entity that has a proprietary interest  in the auction house is participating in the auction

The auction house has a proprietary interest in at least one entity participating in the auction

None of the above information conflicts with the privacy of individuals participating in the auction.

The idea that we can rely on auctions lacking transparency to provide an accurate accounting of the fair market value of a book is laughable. Seeing the speculation in threads about the value of Silver Age Marvel keys is as accurate as determining what the stock market will look like in 2035.
 

Private auctions lose their legally defined proverbial “shield” when more and more people start to question the process. We want transparency when gambling in a casino and there are gaming commissions to prevent shenanigans. Given the amount of money exchanging hands in collectibles, the time is ripe to place the checks used in legalized gambling and apply it to auctions. Everyone wins.

Edited October 3, 2022 by bronze johnny

[Motor City Rob]

Doesn't look like the price was recorded on GPA. That's a good thing, but I'm wondering why it's not showing. 

[Heronext]

If I recall, ComicConnect/Metro is a little later than other venues in reporting sales to GPA.  It would make sense in any case that they might wait some period after an auction's end, until payments are received and books shipped out.

That said, it's possible there were a couple of ComicConnect bidders who wanted this book badly who may not subscribe to GPA or generally be aware of what the book is going for.  Perhaps they participate in CC auctions to the exclusion of others.  While this has been readily available in other venues perhaps CC has not offered a copy in a while.

We are often quick to suspect shilling, when there may be simpler explanations completely consistent with normal human behavior - getting auction fever, being inexperienced & uninformed, not doing one's research, etc, that could reasonably explain the actions of two different bidders in a given evening.

[jjonahjameson11]

On 10/3/2022 at 12:30 AM, THE_BEYONDER said:

I’ve never used either.  Maybe someone could chime in on what happens if you don’t pay. I assume you get the boot & lose buying/selling privileges.  I doubt it goes further than that.

Depends on the situation...If you don't pay because you later identified and confirmed the HA description is incorrect, then HA will not bar you from selling/bidding in future auctions if you haven't paid.

Edited October 3, 2022 by jjonahjameson11

[BigLeagueCHEW]

On 10/2/2022 at 8:00 AM, Bluemedgroup said:

Ok, so this seems extremely fishy.  Savage She-Hulk 1 is a common book in 9.8, 2500+ copies in the grade.  Regularly sells for $600-700 on the bay. 

CC hammer hits at $2300???? I've seen Heritage do shenanigans, but CC??  WTH....

This was the same fishy thought I had when an ASM #300 Direct sold for $9,000 last Christmas ish?

[BigLeagueCHEW]

[Bluemedgroup]

On 10/3/2022 at 10:09 AM, Heronext said:

If I recall, ComicConnect/Metro is a little later than other venues in reporting sales to GPA.  It would make sense in any case that they might wait some period after an auction's end, until payments are received and books shipped out.

That said, it's possible there were a couple of ComicConnect bidders who wanted this book badly who may not subscribe to GPA or generally be aware of what the book is going for.  Perhaps they participate in CC auctions to the exclusion of others.  While this has been readily available in other venues perhaps CC has not offered a copy in a while.

We are often quick to suspect shilling, when there may be simpler explanations completely consistent with normal human behavior - getting auction fever, being inexperienced & uninformed, not doing one's research, etc, that could reasonably explain the actions of two different bidders in a given evening.

Send those "couple of ComicConnect bidders" my way please....I've got a whole collection to sell them!  

[BigLeagueCHEW]

On 10/2/2022 at 5:27 PM, THE_BEYONDER said:

To approach $2600....I would think the buyer would not only believe it to be a newsstand, but a double cover as well.  
 

No way the seller gets paid 

Well don't you have to have a credit card on file to be able to bid, assuming that ish got billed right when the hammer dropped 

[alexgross.com]

On 10/2/2022 at 8:00 AM, Bluemedgroup said:

Ok, so this seems extremely fishy.  Savage She-Hulk 1 is a common book in 9.8, 2500+ copies in the grade.  Regularly sells for $600-700 on the bay. 

CC hammer hits at $2300???? I've seen Heritage do shenanigans, but CC??  WTH....

if you recall, another boardie who used to work for CC recently alleged here that he witnessed metro bidding on and buying books in cc's auctions regularly.  an auction house being owned and operated by a major comics reseller is a recipe for shenanigans and allegations. 

i would 100% ignore this result. 

[Chaz G.]

On 10/2/2022 at 1:06 PM, THE_BEYONDER said:

What kind of muppet puts a bid above $700 on this book?