AC1 rocket copy in the news again 0

[Mmehdy]

On 1/26/2023 at 8:57 AM, buttock said:

It's very likely that all of the previous sales were to dealers.  

Yes, the price keeps going up in house to dealers until they find the Golden Buyer"....funny on this one....sort of a reverse shill bidding.....it worked!!!. I agree that the copy is more hype because the stamp is somewhat distracting but still a great copy......

[buttock]

On 1/26/2023 at 11:19 AM, Mmehdy said:

Yes, the price keeps going up in house to dealers until they find the Golden Buyer"....funny on this one....sort of a reverse shill bidding.....it worked!!!. I agree that the copy is more hype because the stamp is somewhat distracting but still a great copy......

The hype regarding the stamp on this one is strange, to be sure.  But I still like it.  

[Frisco Larson]

On 1/26/2023 at 12:49 PM, buttock said:

The hype regarding the stamp on this one is strange, to be sure.  But I still like it.  

I've always enjoyed great Golden Age books with a unique stamp or code on them. The rocket copy stamp and the stamps on the court copies have become instant identifiers when discussing the books. I actually seek out a specific store stamp on comics and pulps and have a small handful. See below.

[sfcityduck]

On 1/26/2023 at 11:09 AM, Frisco Larson said:

I've always enjoyed great Golden Age books with a unique stamp or code on them. The rocket copy stamp and the stamps on the court copies have become instant identifiers when discussing the books. I actually seek out a specific store stamp on comics and pulps and have a small handful. See below.

Are you from Portland?  As a guy from Eugene, now I want one of those!  But I would not pay a big premium for it.

Edited January 26, 2023 by sfcityduck

[buttock]

On 1/26/2023 at 12:09 PM, Frisco Larson said:

I've always enjoyed great Golden Age books with a unique stamp or code on them. The rocket copy stamp and the stamps on the court copies have become instant identifiers when discussing the books. I actually seek out a specific store stamp on comics and pulps and have a small handful. See below.

 

Red Rocket makes me think of dog... well.  

[fifties]

I think this particular copy -and perhaps all other Action Ones at this point- should be viewed in the lenses of being a commodity, rather than as a comic book for collectors. 

The fact that it has the (rocket) stamp on it would actually degrade the value of any other comic.  According to Overstreet, "Store stamps, name stamps, arrival dates, initials, etc. have no effect on this grade.", but that's for a 4.0, not the 6.0 that CGC awarded it. 

[Frisco Larson]

On 1/26/2023 at 1:21 PM, sfcityduck said:

Are you from Portland?  As a guy from Eugene, now I want one of those!  But I would not pay a big premium for it.

No, I'm from Minnesota. The thing that ties me to the Stowe Book Shop books is that in the mid 90s, I owned a Stowe Book Shop Marvel Mystery #16, which at one point I needed to sell when divorcing. As luck would have it, I got it back by sheer good fortune (see below)!!! At the time I owned the #16 in the 90s, my buddy Billy (our own Straw Man) owned a Stowe Marvel Mystery #19 (which I acquired from him a few years ago) and our buddy Russ owned a Stowe Marvel Mystery #20 (which he sold & can't remember who got it). We all had them at the same time and it was SO cool (I WISH we'd have gotten a picture of them)!!! So, all of THAT makes the books special to me. Also, I've been long time friends with a beautiful woman with that last name and it makes me think of her too. 

Edited January 26, 2023 by Frisco Larson

[sfcityduck]

On 1/26/2023 at 1:59 PM, Frisco Larson said:

At the time I owned the #16 in the 90s, my buddy Billy (our own Straw Man) owned a Stowe Marvel Mystery #19 (which I acquired from him a few years ago) and our buddy Russ owned a Stowe Marvel Mystery #20 (which he sold & can't remember who got it). 

 

 

Russ is still your friend? 

Edited January 27, 2023 by sfcityduck

[Frisco Larson]

On 1/26/2023 at 8:01 PM, sfcityduck said:

Russ is still your friend? 

  

[Cat-Man_America]

On 1/26/2023 at 10:57 AM, buttock said:

It's very likely that all of the previous sales were to dealers.  

That's because most dealers tend to be millionaires and most collectors tend to be thousandaires.

[Roger66]

On 1/25/2023 at 5:33 PM, LDarkseid1 said:

Action 1 transcends economies.

Well said.  Right now someone in Dubai paid 30 million for a yacht and a guy in France is paying 15 million for an abandoned castle and no one is commenting on that esp. considering an average boat or home costs a lot less.  Action 1 is not a comic any longer - it simply is an iconic historical treasure - the true holy grail in comicdom (next to TEC27)  There is no wow factor here for me - it simply is the Mona Lisa, the Honus Wagner, the Magna Carta, the Crown Jewels etc - thus it should command millions and will only grow over time. as the uber rich can afford to own it over and over while the masses remain jaw slackened & wide-eyed . 

Edited January 27, 2023 by Roger66

[LDarkseid1]

On 1/26/2023 at 6:22 PM, Roger66 said:

Well said.  Right now someone in Dubai paid 30 million for a yacht and a guy in France is paying 15 million for an abandoned castle and no one is commenting on that esp. considering an average boat or home costs a lot less.  Action 1 is not a comic any longer - it simply is an iconic historical treasure - the true holy grail in comicdom (next to TEC27)  There is no wow factor here for me - it simply is the Mona Lisa, the Honus Wagner, the Magna Carta, the Crown Jewels etc - thus it should command millions and will only grow over time. as the uber rich can afford to own it over and over while the masses remain jaw slackened & wide-eyed . 

I own a page lol. That’s about as good as it will get more me, unless I can find a Supes page someday.

[Professor K]

On 1/26/2023 at 12:21 PM, sfcityduck said:

That the profit a big-time dealer like Metro made off one of its biggest-time sales, $3.5M, may well be under $100K puts a different perspective on who really makes the biggest money in the comic market.  The answer is clearly OOs, early back issue collectors, and Heritage and other auction houses not selling their own purchased inventory.  It's not flippers.

Yep.

3,180,000. I'm guesing sales tax couldn't be evaded so about another 200,000. It cost about 3.4 million the first time. The article says Goldin sold it again for 3.4 million which I don't even remember., if taxed thats about 3.65 million. So I guess the first buyer dished out all that dough just to make Goldin some money a few months later. Now sold for 3.55 minus commission, no profit there again. I don't know what's going on. Why do these people even bid it up and buy it in the first place if they're just gonna sell it a few months later at a loss. 

Edited January 27, 2023 by Professor K
spelling correction

[tth2]

On 1/27/2023 at 12:13 AM, sfcityduck said:

Since when is the “Rocket Copy” a legendary copy?  That blog article must have been written by Vinnie.

it is a badly defaced copy that should sell below other copies in grade.  It has no significant history, is not a pedigree, and has been a hot potato.  It has been around a short time.

The MH is a legendary copy, this is the opposite.  The Pay Copies may be defaced but it is with history not a child’s stamp. 

I hate that kind of B.S. hype.

Telling Vinnie not to engage in hype?  You might as well tell him not to breathe.

[Bookery]

On 1/27/2023 at 12:51 AM, Professor K said:

Yep.

3,180,000. I'm guesing sales tax couldn't be evaded so about another 200,000. It cost about 3.4 million the first time. The article says Goldin sold it again for 3.4 million which I don't even remember., if taxed thats about 3.65 million. So I guess the first buyer dished out all that dough just to make Goldin some money a few months later. Now sold for 3.55 minus commission, no profit there again. I don't know what's going on. Why do these people even bid it up and buy it in the first place if they're just gonna sell it a few months later at a loss. 

If it was dealers buying it for re-sale (as sfcityduck has speculated), there would be no sales tax involved.

[LDarkseid1]

On 1/27/2023 at 7:25 AM, Bookery said:

If it was dealers buying it for re-sale (as sfcityduck has speculated), there would be no sales tax involved.

I’ve always assumed to be honest, whatever kind of person buys these kinds of books, dealer or some other profession likely has ways around stuff like that. And I’m not even trying to be conspiratorial about it, I just assume the super rich have ways to get around stuff like sales tax.

Edited January 27, 2023 by LDarkseid1

[mrd160]

Interesting when a single book of this magnitude sells 3 times in 1 year.

Edited January 27, 2023 by mrd160

[lou_fine]

On 1/27/2023 at 1:38 PM, mrd160 said:

Interesting when a single book of this magnitude sells 3 times in 1 year.

Well, like others have already stated here, if it's big time dealers involved in the interim buying, maybe it really is all about "laddering up" the value of the book until they can offload it to a so-called "Golden Buyer":    

 

On 1/26/2023 at 8:57 AM, buttock said:

It's very likely that all of the previous sales were to dealers.  

 

On 1/26/2023 at 8:54 AM, sfcityduck said:

My take:

Hot potato?  Well, if Goldin and Metro were the buyers, it was not just a "hot potato" but an example of laddering up the price, in small increments, mainly for the advertising value and therefore not a true reflection of the value of that book to collectors. 

 

On 1/26/2023 at 10:19 AM, Mmehdy said:

Yes, the price keeps going up in house to dealers until they find the Golden Buyer"....funny on this one....sort of a reverse shill bidding.....it worked!!!. I agree that the copy is more hype because the stamp is somewhat distracting but still a great copy......

Definitely also reinforces, albeit it rather artificially, the continuing upward price trajectory for this book which is a positive for dealers like Metro, and as we all know, whenever there's a record-setting transaction involving a copy of Action 1, the boys at Metro always seem to be involved in it one way or the other.    

Edited January 28, 2023 by lou_fine

[Mmehdy]

On 1/27/2023 at 5:26 PM, lou_fine said:

Well, like others have already stated here, if it's big time dealers involved in the interim buying, maybe it really is all about "laddering up" the value of the book until they can offload it to a so-called "Golden Buyer":    

 

 

 

Definitely also reinforces, albeit it rather artificially, the continuing upward price trajectory for this book which is a positive for dealers like Metro, and as we all know, whenever there's a record-setting transaction involving a copy of Action 1, the boys at Metro always seem to be involved in it one way or the other.    

This type of hype or dealer to dealer trading creates a artificial floor for any book, let alone A1....so it creates a real risk of substantial loss, if the the dealers pull out of the market.....and you need to resell the book at the wrong time...real risky buy!

Edited January 28, 2023 by Mmehdy

[lou_fine]

On 1/28/2023 at 11:49 AM, Mmehdy said:

This type of hype or dealer to dealer trading creates a artificial floor for any book, let alone A1....so it creates a real risk of substantial loss, if the the dealers pull out of the market.....and you need to resell the book at the wrong time...real risky buy!

Then again, if it's to one of these newbie tech billionaires that we seem to have so many of nowadays, it might just be more for notoriety and bragging rights more than anything else.  Especially if a few million dollars is really seen as nothing more than pocket change to them:    

On 1/25/2023 at 11:47 PM, lou_fine said:

 

The buyer, a prominent figure in the tech industry, is choosing to remain anonymous.

“As a kid, I’ve always dreamed of getting an Action Comics #1 someday and I’m so excited to get one in a great grade,” he said.