What is the status of the Golden Age market? 3 3

[jimbo_7071]

On 1/31/2023 at 7:28 PM, fifties said:

That 3 minute mechanism is also on the My Comic Shop Monday auctions, and frankly I hate it.  I don't mind other bidders having maybe 5+ seconds to one-up me, but 3 minutes is just agonizingly too long.  A bidder knows within seconds. 

I disagree with that strongly. I much prefer the three-minute extension. It gives me a chance to think about whether I really want a book badly enough to go over my pre-auction estimate. Most of the time, I don't.

I have tended to buy books at auction because of a perception that I might be able to get a good price, but it seldom happens. I've thought about switching to only buying books offered as for sale at a fixed price. I don't really think the auctions are worth the stress. My want list is basically Gerber Vol. I and Gerber Vol. II. I like some books a lot more than others, but the list of books I like a lot is a mile long. There are no particular books I really consider grails. Maybe there were 30 years ago when I wasn't aware of as many great covers as I am now.

[yogi_bear13]

The status is as a whole still the books are scarce and sales are holding up strongly.  Gonna slowly trudge the road of wallet damaging, accumulating satisfaction. 

[Professor K]

On 1/31/2023 at 3:33 PM, fifties said:

I would ascribe HA's bidding mechanism as an important factor, actually, and it's caused me to bid beyond what I normally might have O/W. 

With eBay, you perhaps simply snipe with your best shot and that's it.  With HA, they'll show you either winning or not, and you have a chance to increase your bid within a few seconds.  I guess call it "bidding fever", but it seems to work, and is a real world gauge of value.

That's exactly right. What's it like 5 or 6 seconds from the prior bid before the auction closes? In those few short seconds the bidder must decide whether to bid or bail while watching a red countdown timer. This situation puts many bidders in a state of hyperarousal, which triggers a neural response in the hypothalamus. The initial reaction is followed by activation of the pituitary gland and secretion of the hormone ACTH. The adrenal gland is activated almost simultaneously, via the sympathetic nervous system, and releases the hormone epinephrine. The release of chemical messengers results in the production of the hormone cortisol, which increases blood pressure and blood sugar. This results in increased heart rate, bladder relaxation, tunnel vision, shaking, dialted pupils, flushed face, dry mouth, slowed digestion and even hearing loss in some bidders. 

All this happens in an instant and causes the bidder to lose their sense of control and reason which causes them to keep bidding when under normal circumstance they would simply stop.  Auction houses have been using this physiological reaction to their advantage for years (That's why the auctioneers speak so fast) and so does Heritage...............uh' or something. 

Edited February 1, 2023 by Professor K
grammar correction

[Robot Man]

As a buyer, I HATE auctions. I always have. People usually bid with their emotions. Either in panic or to be the “winner” at any cost. I am usually shut out. Not because I am cheap but I bid with my head and what the item is worth to me. I have often bid way beyond my comfort zone and still lost out. Especially now days. Good GA material is still VERY strong. I see people being a lot more selective but not afraid to pay up for the “good stuff”. GA books are a lot tougher to get in many cases. Scarcity and demand are keeping this area of the hobby strong. I don’t see this changing.

I much prefer buying direct from sellers but the opportunities to do so are really drying up.

[batman_fan]

The true GA canary will occur at the next Virtual Comic Convention.  I plan to have a bunch of Batman GA books so let’s see if I move anything.  I will be pricing on the low side since I am using the equations

        Maximum I could ever expect to get X 2

This is way less than the typical equation people use

        Maximum I could ever expect to get X 3

[path4play]

On 2/1/2023 at 11:25 AM, Robot Man said:

As a buyer, I HATE auctions. I always have. People usually bid with their emotions. Either in panic or to be the “winner” at any cost. I am usually shut out. Not because I am cheap but I bid with my head and what the item is worth to me. I have often bid way beyond my comfort zone and still lost out. Especially now days. Good GA material is still VERY strong. I see people being a lot more selective but not afraid to pay up for the “good stuff”. GA books are a lot tougher to get in many cases. Scarcity and demand are keeping this area of the hobby strong. I don’t see this changing.

I much prefer buying direct from sellers but the opportunities to do so are really drying up.

I'm loosing more bids than ever... so I'd say market for GA has not cooled.  Have been sort of thinking it might, but it has not.  Where the $$$ comes from auction, after auction, after auction again is beyond me.

[jimbo_7071]

On 2/1/2023 at 5:14 PM, batman_fan said:

The true GA canary will occur at the next Virtual Comic Convention.  I plan to have a bunch of Batman GA books so let’s see if I move anything.  I will be pricing on the low side since I am using the equations

        Maximum I could ever expect to get X 2

This is way less than the typical equation people use

        Maximum I could ever expect to get X 3

It's decidedly unambitious compared to most eBay sellers, who use the formula "Maximum I could ever expect to get X 10, unless it's an absolute rag, in which case, maximum I could ever ever expect to get for a NM copy of the same issue X 10."

[lou_fine]

On 1/31/2023 at 4:28 PM, fifties said:

That 3 minute mechanism is also on the My Comic Shop Monday auctions, and frankly I hate it.  I don't mind other bidders having maybe 5+ seconds to one-up me, but 3 minutes is just agonizingly too long.  A bidder knows within seconds. 

This is true in the scenario where the bidder in question has already targeted and decided that they want to win a particular book.  

 

On 1/31/2023 at 6:28 PM, jimbo_7071 said:

I disagree with that strongly. I much prefer the three-minute extension. It gives me a chance to think about whether I really want a book badly enough to go over my pre-auction estimate. Most of the time, I don't.

Now if you are in a different scenario like jimbo's here where you are not sure if you really want a particular book or not, then the additional time certainly does help by giving you the additional time to make a rational and thought out decision.  Perfect case in point for me was the Jon Berk Auction where there were just so many desirable books in there and advance bidding didn't really let you know if you was even going to be in the ball park or not in terms of acquiring a particular book.  Let me tell you, those multiple 3-minute extensions were a really big help as it gave me enough time to doublecheck on things such as Overstreet guide, past Heritage & CC auction results, CGC population census reports, current bids on other upcoming books you might be interested in, etc. to decide if I should place a bid or to hold off for now and save it for other books further down the line.   

Edited February 1, 2023 by lou_fine

[Telegan]

On 1/31/2023 at 6:28 PM, fifties said:

That 3 minute mechanism is also on the My Comic Shop Monday auctions, and frankly I hate it.  I don't mind other bidders having maybe 5+ seconds to one-up me, but 3 minutes is just agonizingly too long.  A bidder knows within seconds. 

I don't mind MCS auctions, but the 3-minute extensions can be annoying - especially if someone is operating on a fixed budget for an auction.  Doesn't Comic Connect do the same thing?  It's basically good for the seller/auction house, I guess (?).  I used to hate it because it's especially annoying when you get the high bid, but you now have to watch that auction and the next few that you want because of the 3 minute bid.  I used to miss out on some auctions because I'm too busy going back and checking to see if I won the one that got incremented by 3 minutes (or "stayed" the winner).

I'm personally a fan of the "sniper" auctions.  Why?  Because it lets you bid what your maximum bid is and move onto the next one.  Nowadays, I generally don't have much indecisiveness about what I want to bid and on what comics, so I just go in there and send what I'm willing to bid and let the chips fall where they may.  Once there's a gap between comics I want to bid on, I go back and check if I won it.  I'm also the one that generally goes through the entire auction beforehand and knows which ones I want to go after, so that helps.

But, as Depeche Mode said, "different people have different needs"... lol.  I detest huge buyer's premiums more than I do the auction time extensions, tbh.

Edited February 2, 2023 by Telegan

[fifties]

On 2/1/2023 at 3:54 PM, lou_fine said:

This is true in the scenario where the bidder in question has already targeted and decided that they want to win a particular book.  

 

Now if you are in a different scenario like jimbo's here where you are not sure if you really want a particular book or not, then the additional time certainly does help by giving you the additional time to make a rational and thought out decision.  Perfect case in point for me was the Jon Berk Auction where there were just so many desirable books in there and advance bidding didn't really let you know if you was even going to be in the ball park or not in terms of acquiring a particular book.  Let me tell you, those multiple 3-minute extensions were a really big help as it gave me enough time to doublecheck on things such as Overstreet guide, past Heritage & CC auction results, CGC population census reports, current bids on other upcoming books you might be interested in, etc. to decide if I should place a bid or to hold off for now and save it for other books further down the line.   

If one is not so sure that he really wants a book, then rapid fire bidding doesn't make sense.  Just put in a bid in advance, and walk away.  If it's not in the ball park does it really matter?  You bid what was logical for you.

OTOH, AFA checking Overstreet, HA and CC past sales prices, current bids, etc., that research should be done days in advance, not with 3 minutes remaining.  Why put undue pressure on yourself?

Personally, I decide in advance if I really want a book, and if so, I go balls to the wall on the bid button until I either win, or the bidding just gets too high IMO.

 

[Robot Man]

On 2/1/2023 at 4:41 PM, Telegan said:

I don't mind MCS auctions, but the 3-minute extensions can be annoying - especially if someone is operating on a fixed budget for an auction.  Doesn't Comic Connect do the same thing?  It's basically good for the seller/auction house, I guess (?).  I used to hate it because it's especially annoying when you get the high bid, but you now have to watch that auction and the next few that you want because of the 3 minute bid.  I used to miss out on some auctions because I'm too busy going back and checking to see if I won the one that got incremented by 3 minutes (or "stayed" the winner).

I'm personally a fan of the "sniper" auctions.  Why?  Because it lets you bid what your maximum bid is and move onto the next one.  Nowadays, I generally don't have much indecisiveness about what I want to bid and on what comics, so I just go in there and send what I'm willing to bid and let the chips fall where they may.  Once there's a gap between comics I want to bid on, I go back and check if I won it.  I'm also the one that generally goes through the entire auction beforehand and knows which ones I want to go after, so that helps.

But, as Depeche Mode said, "different people have different needs"... lol.  I detest huge buyer's premiums more than I do the auction time extensions, tbh.

I am also a fan of “sniper” auctions. I figure what the most I will pay and that is it. I do a Hail Mary in the final seconds and cross my fingers. If I lose out, (as more than often I do), I just move on to something else.

”3 minute rules” are just a clever and smart move on the part of the auction house to squeeze more money out of nervous and emotional bidders.

I hate auctions…

[piper]

On 2/1/2023 at 5:41 PM, Telegan said:

I don't mind MCS auctions, but the 3-minute extensions can be annoying - especially if someone is operating on a fixed budget for an auction.  Doesn't Comic Connect do the same thing?  It's basically good for the seller/auction house, I guess (?).  I used to hate it because it's especially annoying when you get the high bid, but you now have to watch that auction and the next few that you want because of the 3 minute bid.  I used to miss out on some auctions because I'm too busy going back and checking to see if I won the one that got incremented by 3 minutes (or "stayed" the winner).

I'm personally a fan of the "sniper" auctions.  Why?  Because it lets you bid what your maximum bid is and move onto the next one.  Nowadays, I generally don't have much indecisiveness about what I want to bid and on what comics, so I just go in there and send what I'm willing to bid and let the chips fall where they may.  Once there's a gap between comics I want to bid on, I go back and check if I won it.  I'm also the one that generally goes through the entire auction beforehand and knows which ones I want to go after, so that helps.

But, as Depeche Mode said, "different people have different needs"... lol.  I detest huge buyer's premiums more than I do the auction time extensions, tbh.

I gave a like for making a Depeche Mode reference.  

[ChillMan]

My advice is to put your own thinking above the current market trends.  And above what others say.

Golden Age keys are real (not manufactured gimmick) collectibles...and far more rare than most other collectibles.  And you can predict what should be desirable.

As for what could be the next big thing...my prediction is current valid driver's licenses & passports of deceased celebrities.  They're like the rookie cards of celebrities.