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Does paying overvalue for a piece of art change the way you view that art
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45 posts in this topic

If I am particularly interested in situations that you ended up paying significantly more than your estimate of fair value.  For example, I see a piece I want at auction that I like, but not  absolutely need to have.  I make fair value at $20k.  I end up getting in a bidding war for the price and win paying $45k (maybe I got excited during the bidding, maybe I just said to myself it is a solid page, who cares if I over pay)  The bottom line is that when I do this, I tend to attach a negative option on the art.  The art in my collection that I enjoy the most tends to be is the art I bought before the big run ups in pricing, and the ones I didn’t feel I was overpaying for.  Do readers of this entry have similar views/experiences.

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I think that if down the line similar pages sell for slightly higher or lower, then you will be fine....If much lower, then maybe you might feel the price was run up, you got carried away, etc. I guess the same thing happens when you sell and then a few years later, the same page or similar pages (or books for that matter) are realizing much higher prices...."why didn't i wait?" "I didn't need to sell, etc etc"...If you are happy wtih the art, you feel the price was fair in your mind, then you are good. 2c

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Every comic book art piece for which I've ever overpaid now would sell for more or multiples of my over expenditure.

I do however have many pieces that I paid market price that have not strayed too far from  the cost. Like 1970's-1980 non-Disney Gold Key/Whitman Cartoon Character covers. Of course every one who collected published comic art back in the 2005 time frame probably has a small pile or more of them

Thing is any piece I've ever overpaid for is one that I will always be revere so no I don't look at them any different.

 

Edited by MAR1979
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In OP's example, overpaying (in hindsight) at auction is a conscientious choice.  You basically have to live with that choice.  I think we've all been there.  Hopefully the market catches up to what you've paid.

In another case, if I pay X for a piece today and find out I could've bought it for half of that yesterday, I might feel I overpaid.  Noone forced me to pay X and theoretically, I thought it was worth X when I bought it at the time.  But now would be a good time to examine one's knowledge of the market.

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I almost feel like “what determines” if you over pay? Each piece unique , right? So even past sales don’t indicate current market. I’m guessing any price paid for a page is what that page is worth to the buyer. 

 

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Most every piece I own was purchased with premeditation. I have probably overpaid on multiple occasions, but I wanted whatever the piece was and I can't blame the artwork (or the seller) for what I paid. Like others have said before my reply...most of the pieces I purchased have risen in monetary value far beyond what I originally paid for them. I have paid under value for a lot of pieces as well. It's a balancing act that has evened out over the years. 

I may have overpaid on a certain piece that I really wanted. It wasn't the money, but the seller also wanted two pieces from my personal collection as well as cash (it was a calculated squeeze play). Sometimes you have to make a sacrifice for something you really want. I imagine the one I now own has a value that is multiples over what I paid for it including the two included in the sale, but the value doesn't really matter to me. I would suspect this happens frequently to those who purchase art for the piece and not for the investment. I still feel a little sting from not owning the two pieces I sacrificed for the one I really wanted, but when I look at the piece I own...the joy opens up in my heart. 

If you're even remotely curious to 'the piece' I reference...just look to my avatar. 

 

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I too have overpaid, and when possible it's to the artists themselves. Based on current estimated value of those pieces I do not regret the past over payments.  The problem is when others overpay for similar art that I was already overpaying, it then means less or no soup for me. Based on my ID name you probably will get an idea of the specific title  :)

Edited by All-Star Squadman
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On 12/14/2022 at 5:17 PM, stinkininkin said:

When I was more actively collecting, I overpaid all the damn time, and was happy to do so if it was a piece I coveted. I never collected for investment, and overpayment was the accepted reality in acquiring the art that I wanted. However, I also loosely applied a "five year rule" when overpaying, which was a rule of thumb guide where I asked myself "Do I think I could at least get my money back in 5 years if I absolutely HAD to sell?".  Not once did I regret that decision, and the only regrets I have are for the pieces I DIDN'T reach higher for!

This

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Thanks for the responses.  I regret posting this question for a few reasons:

1)  It had a lot of typos.

2)  The sample size is pretty small. I only feel this way about a handful of pieces,

3)  It doesn't quite reflect how I feel.  It is not that I dislike the art any less, it is just that on a few pieces I own, I am finding it difficult to look at them without also saying to myself "what was I thinking paying so much money for this."  I don't view my collection as an investment, so there is no rational reason I should care about over paying, but that doesn't stop me from doing it.

Thanks again and I hope everyone has a happy holiday season.

 

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On 12/15/2022 at 7:20 AM, KCOComics said:

 

I have a pretty narrow focus when it comes to OA. And that means limited opportunities to buy.

Where I struggle with overpaying is when dealers are selling pieces I want for many multiples of comparable pieces I've bought. 

I would love to have the attitude that I love the art and I should just buy it. But when people are asking $25k for pieces that should really be $3k- $5k, it's a hard game to play.

I guess the good news is, it's only really been a problem with one dealer. And no matter how Cool those Lines are, I won't be buying. 

 

1) They may no longer even own the pieces, but that type of thing won't stop them from trying to sell them.

2) The asking price will always be raised as soon as you agree to it, they are without honor and their word is less than worthless. Then in some cases after all that they never had the item to begin with - see #1

3) "Playing them Mind Games" is their primary goal.

4) Like many collectors I consider any item they have as something that may as well no longer exist.

 

Edited by MAR1979
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On 12/15/2022 at 9:22 PM, Xatari said:

I've had some positive purchases from the dealer in question.  Not always the horror story I read online, but I understand the general consensus.  Just wanted to be straightforward about an alternative experience.

My first dealing with them was fine, the next 2 were the horrors and I said never again that was 12 years ago.  I'm sure that 10-15% of the time all is fine :cool:

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