soft prices on Goldin? 2 2

[MAR1979]

^ Jimbo, plausible the 3rd high bidder was the house in disguise.

Edited June 16, 2023 by MAR1979

[RareHighGrade]

A lot of the comments here are assuming the 7.0 Superman #1 was bought by a collector.  I question that.  Why would a collector pay an all-time record price for a book and then sell it only a year and a half later during a down market?  A more logical explanation is that Goldin bought the book with the express plan to flip it as part of its efforts to expand its business into the comic memorabilia market.  It needed high profile books like the Superman #1 and lower grade Action #1 to draw attention to its auction and to be perceived as a big-time player in this niche.

[fishbone]

On 6/15/2023 at 12:50 PM, szav said:

Of course in 2019 someone probably would have been thrilled to know they’d get 1.6 mil for their Sups #1 7.0 in 2023.

Still a strong price and not a death knell for the hobby or the book as much as a reflection of the Covid comic boom insanity.

this 100%

[Dark Knight]

On 6/16/2023 at 8:41 AM, Robot Man said:

Yeah, Ron was (and still is) a great guy. We became good friends. I photographed a lot of his stuff for him and had access to some amazing things.  He knew I knew how to handle books so he had no problem with it. I remember going through many boxes of Church and SF books he had purchased. Good times! 

Those were the golden times of collecting, before CGC and flippers. Just everything was raw and can be flipped for viewing. So much more fun than books being entombed in a grading slab.

[Dark Knight]

On 6/16/2023 at 12:56 PM, RareHighGrade said:

A lot of the comments here are assuming the 7.0 Superman #1 was bought by a collector.  I question that.  Why would a collector pay an all-time record price for a book and then sell it only a year and a half later during a down market?  A more logical explanation is that Goldin bought the book with the express plan to flip it as part of its efforts to expand its business into the comic memorabilia market.  It needed high profile books like the Superman #1 and lower grade Action #1 to draw attention to its auction and to be perceived as a big-time player in this niche.

I think this is highly plausible and makes the most sense! It's been known that they were the buyers of the Action 1 Rocket book in Heritage as well as a Tec 27 6.5 where Ken Goldin displayed it on top of his mantle at home.  Then he later auctioned off the Rocket book at his website. 

[tth2]

On 6/17/2023 at 3:56 AM, RareHighGrade said:

A lot of the comments here are assuming the 7.0 Superman #1 was bought by a collector.  I question that.  Why would a collector pay an all-time record price for a book and then sell it only a year and a half later during a down market?  A more logical explanation is that Goldin bought the book with the express plan to flip it as part of its efforts to expand its business into the comic memorabilia market.  It needed high profile books like the Superman #1 and lower grade Action #1 to draw attention to its auction and to be perceived as a big-time player in this niche.

Also explains why the book would be sold on Goldin.

In a weird way, this actually improves the credibility of Goldin as it shows they weren't manipulating the price of the book to avoid the huge PR hit.

[october]

On 6/16/2023 at 10:47 PM, tth2 said:

Also explains why the book would be sold on Goldin.

In a weird way, this actually improves the credibility of Goldin as it shows they weren't manipulating the price of the book to avoid the huge PR hit.

They may still have won it back. We don't know unless the buyer makes it public. 

The chicanery that goes on at that level knows few bounds.

[DanCooper]

On 6/17/2023 at 7:35 AM, october said:

They may still have won it back.

This, and what RareHighGrade mentioned prior, are the most plausible answers to the "million $" question!

Maybe all will be revealed on the next episode of Goldin's Netflix series!

 

[tth2]

On 6/17/2023 at 7:35 PM, october said:

On 6/17/2023 at 11:47 AM, tth2 said:

Also explains why the book would be sold on Goldin.

In a weird way, this actually improves the credibility of Goldin as it shows they weren't manipulating the price of the book to avoid the huge PR hit.

They may still have won it back. We don't know unless the buyer makes it public. 

The chicanery that goes on at that level knows few bounds.

Then they should've won it back at $2.6m!

[october]

On 6/17/2023 at 8:12 AM, tth2 said:

Then they should've won it back at $2.6m!

Yesssss. Double shill bidding to a Mil plus! I like where your head is at.

They also need more Netflix series, more scumbag Instagram influencer pumpers, more celebrities with pre-Robin Tecs hung around their necks at the NBA finals, more moonbois YOLOing their PPP loans, more tokenized GA assets, more NFT projects, more EVERYTHING. This is the roadmap to bubblicious success. Time to get back on track, people. 

[sfcityduck]

On 6/17/2023 at 6:12 AM, tth2 said:

Then they should've won it back at $2.6m!

If I owned a Superman 1 I would have that emotional reaction. But from the perspective of the integrity of the market it is nice to see the venue not engaging in an artificial attempt to prop up an illusionary value.  What most auction houses would have done is had a reserve and just said it did not hit the reserve which creates the illusion the book is worth more than it is.

Edited June 17, 2023 by sfcityduck

[Dark Knight]

Not to mention too that the majority of the sports cards that sold in that Goldin 100 sold for much less than the last sales. This I think solidifies that Goldin is not involved in shill bidding.

[MAR1979]

On 6/16/2023 at 11:47 PM, tth2 said:

Also explains why the book would be sold on Goldin.

In a weird way, this actually improves the credibility of Goldin as it shows they weren't manipulating the price of the book to avoid the huge PR hit.

Reminder folks Goldin auctions has been a subsidiary of Collectors Holding Company Ltd (formally Collectors Universe) since 2021.  They also own PSA and WATA
https://www.collectors.com/about-us

Cohen Private Ventures, LLC is the parent company of Collectors Holding.

So yep you are correct, a 1M loss is nothing for them if it buys them cred.  Although I'm betting they figured a month or 2 back it would only be 300-500K loss, still 1M is less than Cohen pays Scherzer for each miserable start he makes.

P.S. It completely boggles my mind that CGC broadcasts Goldin sales from links on their home page but yet displaying an image of a CBCS slab on this forum is forbidden.

https://www.cgccomics.com/news/article/11830/superman-action-comics-million/

Edited June 17, 2023 by MAR1979

[Dark Knight]

Maybe because both books were CGC graded?

[Crowzilla]

So how long until we see this book offered fractionally at Rally?

[lou_fine]

On 6/17/2023 at 5:37 AM, DanCooper said:

Maybe all will be revealed on the next episode of Goldin's Netflix series!

 

On 6/18/2023 at 1:10 AM, Crowzilla said:

So how long until we see this book offered fractionally at Rally?

Honest truth, it would not surprised me in the least if we found out that the boys at Metro was the winner here in repurchasing the book. 

No doubt to then see it either in a subsequent CC Event Auction further down the line or more likely Vinnie making another announcement that they had successfully "placed" and sold another copy of Supes 1 at a record price ABOVE $2.6M to a lucky buyer.  

Especially since history has shown us that they seem to be on either the buying or selling end of the transactions when it comes to big early GA keys like Action 1 or Supes 1.  

Even more so when it comes to the record setting transactions, and wouldn't this one right here qualify as it must be the largest record loss by far for a single book for the consignor of this copy here.  Reminds me a bit of the time when Geppi brough back the Pay Copy of Marvel Comics 1 from Parrino at a fraction of the price which he had sold it to him for.    

Edited June 18, 2023 by lou_fine

[Mr bla bla]

On 6/16/2023 at 11:53 PM, Dark Knight said:

I think this is highly plausible and makes the most sense! It's been known that they were the buyers of the Action 1 Rocket book in Heritage as well as a Tec 27 6.5 where Ken Goldin displayed it on top of his mantle at home.  Then he later auctioned off the Rocket book at his website. 

What if Goldin was also the buyer…😎

[Silver Surfer]

I find it hard to believe that any big dollar auction is not shilled up higher by the people who can see the bids (and how about the use of AI?) unless the auction owners are interested in acquiring the books themselves? Seriously what are the checks and balances in place to keep this from happening or at least make it more transparent. 

[tth2]

On 6/17/2023 at 9:32 PM, Dark Knight said:

Not to mention too that the majority of the sports cards that sold in that Goldin 100 sold for much less than the last sales. This I think solidifies that Goldin is not involved in shill bidding.

They are already the 800 lb gorilla in sports card auctions, so they don't need to do bolster their reputation in that market, unlike in comics where they're a baby chimp.  Plus, sports card volume on Goldin is so big, and prices there have plunged so much, that Goldin would be financially incapable of singlehandedly artificially supporting the market.

[lou_fine]

On 6/18/2023 at 8:29 PM, tth2 said:

Plus, sports card volume on Goldin is so big, and prices there have plunged so much, that Goldin would be financially incapable of singlehandedly artificially supporting the market.

Don't really know that much about the sports card market myself, but is there a vintage portion of their market similar to the GA here in the comic book marketplace that is actually not only holding up but still continuing to move upwards? 

No doubt, I am not at all surprised that the manufactured collectibles portion of the current sports card marketplace have taken a huge plunge.