Comiclink auction ending 3/8 1 1

[Unstoppablejayd]

On 3/9/2023 at 12:18 PM, jjonahjameson11 said:

Oh, and I forgot to mention the HA international OA auction ending this weekend.  Some phenomenal stuff in that auction, too!  So I guess that’s why the money has been spread thin this week.

I think clan McDonald had a live show with Spencer too … I can say I was definitively divided attention and money across all the stuff going on last night - so divided I bid to late on the hulk McFarlane on a snipe and missed it! 

[comix4fun]

On 3/9/2023 at 12:02 PM, KirbyCollector said:

Inflation of everything else is not helping... eggs and bread doubled since covid, I can't remember the last time I bought a beef roast, the guys I work with on my house are charging 10% more than last year, some local restaurants are adding an "inflation surcharge" to the bill now... it never stops these days

I try to keep my "egg money" and my "four to five figure OA money" as separate line items on my household budget. 

Businesses and retailers have been beating the "inflation" drum beat to excuse higher asking prices even though year over year it's 10% and they're going for 50-100%. It's less of a "inflation increase" and more of a "how much extra can we ask before people stop buying increase".  The gouge in the name of "inflation" is actually driving inflation...irony. 

[jjonahjameson11]

On 3/9/2023 at 1:06 PM, comix4fun said:

I try to keep my "egg money" and my "four to five figure OA money" as separate line items on my household budget. 

Businesses and retailers have been beating the "inflation" drum beat to excuse higher asking prices even though year over year it's 10% and they're going for 50-100%. It's less of a "inflation increase" and more of a "how much extra can we ask before people stop buying increase".  The gouge in the name of "inflation" is actually driving inflation...irony. 

“Greedflation”

[Twanj]

On 3/9/2023 at 1:06 PM, comix4fun said:

Businesses and retailers have been beating the "inflation" drum beat to excuse higher asking prices even though year over year it's 10% and they're going for 50-100%. It's less of a "inflation increase" and more of a "how much extra can we ask before people stop buying increase".  The gouge in the name of "inflation" is actually driving inflation...irony. 

I don't have a store or restaurant but I know my property taxes were up 30% last year and insurance was up 50%. I got a competing quote for insurance that was 200% more than the last year (or 3x). Residential rent here was up 30+%. I don't know if stores/retail saw the same increases but I know I'm being gouged. Dunno how regular people can keep up with that. It's totally unsustainable.

[comix4fun]

On 3/9/2023 at 3:26 PM, Twanj said:

I don't have a store or restaurant but I know my property taxes were up 30% last year and insurance was up 50%. I got a competing quote for insurance that was 200% more than the last year (or 3x). Residential rent here was up 30+%. I don't know if stores/retail saw the same increases but I know I'm being gouged. Dunno how regular people can keep up with that. It's totally unsustainable.

Residential rents are tied to demand and costs associated. The last 5-6 years saw unprecedented increases in home values. That priced a lot of people out of buying, so they rented. Then when interest rates rose (to combat inflation) it made earning power for buyers decrease further to the point where even more people shifted to renting. In most cities the average occupancy percentage for apartments are at all time highs. Landlords are asking for and getting huge increases everywhere. Their cost basis hasn't changed dramatically, but demand is allowing outsized rent increases.

Property taxes, a field I have spent too much time working on, isn't really inflation related though. It's pretty complex but in many areas it can be covid-related. When businesses close, or spaces vacate (as many retail locations in many cities saw during and after covid lockdowns), taxes can be abated for those properties which shifts the burden to occupied properties. The units of government never reduce the amount they need to collect so when some properties decrease due to economic conditions the rates adjust to collect the same money from less people. 

It's infuriating to walk into a store to buy some food item that's priced 50%- 80% more than a year ago and being told "inflation" when actual year over year is less than 10%. Someone's seeing an opportunity to pad bottoms lines. It's probably not your local store but their supplier or the multi-national that runs the show. 

Bringing it back to artwork, in the old days before $2,000 covers were $50,000, we always said "don't use the rent money to buy your toys (art, comics, literal toys) " of course it was a lot easier back in the day (2018 counts as "back in the day" for these purposes) when EVERYTHING was NOT a $50,000 masterpiece. 

[batman_fan]

On 3/9/2023 at 4:29 PM, comix4fun said:

Residential rents are tied to demand and costs associated. The last 5-6 years saw unprecedented increases in home values. That priced a lot of people out of buying, so they rented. Then when interest rates rose (to combat inflation) it made earning power for buyers decrease further to the point where even more people shifted to renting. In most cities the average occupancy percentage for apartments are at all time highs. Landlords are asking for and getting huge increases everywhere. Their cost basis hasn't changed dramatically, but demand is allowing outsized rent increases.

Property taxes, a field I have spent too much time working on, isn't really inflation related though. It's pretty complex but in many areas it can be covid-related. When businesses close, or spaces vacate (as many retail locations in many cities saw during and after covid lockdowns), taxes can be abated for those properties which shifts the burden to occupied properties. The units of government never reduce the amount they need to collect so when some properties decrease due to economic conditions the rates adjust to collect the same money from less people. 

It's infuriating to walk into a store to buy some food item that's priced 50%- 80% more than a year ago and being told "inflation" when actual year over year is less than 10%. Someone's seeing an opportunity to pad bottoms lines. It's probably not your local store but their supplier or the multi-national that runs the show. 

Bringing it back to artwork, in the old days before $2,000 covers were $50,000, we always said "don't use the rent money to buy your toys (art, comics, literal toys) " of course it was a lot easier back in the day (2018 counts as "back in the day" for these purposes) when EVERYTHING was NOT a $50,000 masterpiece. 

I know our cost on rentals has got up drastically over the past two years.  New city fees to fund lawyers to help people from being evicted (per unit bases), increased inspection fees, increased maintenance cost, for some stuff like plumbing and electrical 50% higher.  Replacing carpet is also about 50% higher between the carpet cost and install cost.  Cleaning cost are about 30% higher.  On top of that HOA fees are also higher.  One unit we own had an increase from $450/month to $653/month in one year. On our side we haven't increased rent prices to offset the expense increase yet.

[comix4fun]

On 3/9/2023 at 6:33 PM, batman_fan said:

I know our cost on rentals has got up drastically over the past two years.  New city fees to fund lawyers to help people from being evicted (per unit bases), increased inspection fees, increased maintenance cost, for some stuff like plumbing and electrical 50% higher.  Replacing carpet is also about 50% higher between the carpet cost and install cost.  Cleaning cost are about 30% higher.  On top of that HOA fees are also higher.  One unit we own had an increase from $450/month to $653/month in one year. On our side we haven't increased rent prices to offset the expense increase yet.

That’s a good point about cities passing through costs to property owners. It’s not everywhere, but it’s probably spreading if they can get away with it. 
The high density residential I have advised ( about 10,000 units across 150 or so properties total )  where i am located haven’t seen large or material cost increases on their regular repairs and maintenance over the last 24 months but that may be the result of longer term contracts for maintenance or lower effective ages of the properties not necessitating large scale renovation.  Also, most properties above 25 units that I’ve analyzed seem to carry large replacement reserves that are annually built into the budget to allow for costs without having it hit the NOI as a fully new expense that would result in tanking profitability. 
The combination of the above and the above stabilization occupancy rates I’ve been seeing are giving me NOI figure that aren’t declining at all, much the opposite  The smaller unit properties (10units or less) don’t have the same wiggle room or built in reserves to withstand variance and they have been having a harder time finding service providers. So the mileage seems to vary based on how insulated the bottom line is. 

[Michael Browning]

On 3/8/2023 at 11:33 PM, cloud cloddie said:

Sienkiewicz Dune, Silvestri Lee and JRJr X-men… thought those were light. The few Valiant pieces were strong. Zeck SW about where I thought. 

I agree 100%. I thought the Dune and Silvestri pages would go much higher. I did think the Zeck SW pages ended a bit light. I just don’t think the market is right to be auctioning those off right now.

[Michael Browning]

On 3/9/2023 at 11:41 AM, jjonahjameson11 said:

Dueling Dealers, Clink OA, and HA weekly OA auction all happened at the same time.

I didn’t think it hurt too much because prices were fairly strong in both auctions on several pieces, though having all three on the same night couldn’t have helped- especially with Dueling Dealers.

[Michael Browning]

New Universe covers continue to be the bargains of Marvel 1980s art.

 

[KirbyCollector]

On 3/10/2023 at 8:46 AM, Michael Browning said:

I agree 100%. I thought the Dune and Silvestri pages would go much higher. I did think the Zeck SW pages ended a bit light. I just don’t think the market is right to be auctioning those off right now.

I loved the Silvestri Naze page, esp that lower panel, but couldn't pull the trigger with just a single panel containing Storm... liked the Dune pages but am waiting for the better pages from that book, now that it is slowly being fed to the market... the bigger problem might be the economy right now, with all the easy stimulus money gone and inflation hitting everyone. I spend all my day in the financial markets and things look very grim right now on many fronts.

[ThothAmon]

The one I thought I might get a deal on and add to my small collection of SSOC covers went for about the same as Heritage sold it for including BP in 2019.  


 

[Michael Browning]

I was very shocked by these results. Some were low and some were high.

I thought the Brunner recreation was very high.

The FF cover went a bit higher than I expected.

The X-O Manowar cover really sold high.

Then, there was the Sal Buscema Spectacular Spider-Man page that sold at a bargain-basement price and the BWS Conan page from a very classic and historical issue that sold for a third of what I expected it to sell for.

[g-man]

doc strange #49 cover by Rogers looked strong at $50K+

good flip (if the same owner) from 2020 at $33.6K (heritage) 

[Michael Browning]

On 3/10/2023 at 9:18 AM, g-man said:

doc strange #49 cover by Rogers looked strong at $50K+

good flip (if the same owner) from 2020 at $33.6K (heritage) 

Is a $16,000 difference really that good of a flip? I thought the cover sold low, considering it’s one of the best Dr Strange covers. I thought it would hit $75,000-$85,0000 or maybe go past $100,000.

If I’m going to flip a piece of art I’ve paid $35,000 for, a $15,000-$16,000 profit is low and wouldn’t be worth the time and effort and I’d be very disappointed that that’s all I was getting.

The seller should have consigned it back to HA to go in one of their bigger auctions, in my opinion.

[g-man]

On 3/10/2023 at 9:26 AM, Michael Browning said:

Is a $16,000 difference really that good of a flip? I thought the cover sold low, considering it’s one of the best Dr Strange covers. I thought it would hit $75,000-$85,0000 or maybe go past $100,000.

If I’m going to flip a piece of art I’ve paid $35,000 for, a $15,000-$16,000 profit is low and wouldn’t be worth the time and effort and I’d be very disappointed that that’s all I was getting.

The seller should have consigned it back to HA to go in one of their bigger auctions, in my opinion.

i guess it depends on the owner's situation if they needed the $ for another purchase or whatever...Only 2-3 years to make $10K after the juice is taken out, yea not great but better than losing $. When I think of Dr Strange, MR name doesn't come to mind...usually Colan, Brunner, Ditko, Severin, etc....

[Michael Browning]

On 3/10/2023 at 9:33 AM, g-man said:

i guess it depends on the owner's situation if they needed the $ for another purchase or whatever...Only 2-3 years to make $10K after the juice is taken out, yea not great but better than losing $. When I think of Dr Strange, MR name doesn't come to mind...usually Colan, Brunner, Ditko, Severin, etc....

I think a lot of Dr. Strange fans consider Rogers’ brief run as one of the high points of the series.

[vodou]

On 3/10/2023 at 9:18 AM, g-man said:

doc strange #49 cover by Rogers looked strong at $50K+

good flip (if the same owner) from 2020 at $33.6K (heritage) 

Light. I called 60 a few weeks back.

[batman_fan]

I really wanted this piece but got busy and missed it.  Still looking for a Skottie Young Wizard of Oz piece.

[delekkerste]

This was a shocker to me:

I sold this one a little over 4 years ago for what was then a very strong price during my "I don't need so many painted pieces in my collection" phase (wish I had some of those paintings back!) 

It's a fantastic piece, but, I definitely didn't see it doing $47.5K this time around. Congrats to the consignor, glad you made out so well!