Collector (or Speculator) Fatigue 2 2

[Browns81]

I’m happy to wait a few months and get any new books I care about from the dollar bin.  If I miss keys in my runs then so be it.

in the 90s I got priced out when trying to collect too many books off the rack, especially the endless crossover events that you “had to” buy multiple titles to understand what was going on.

[Ken Aldred]

On 6/14/2023 at 10:49 PM, Browns81 said:

in the 90s I got priced out when trying to collect too many books off the rack, especially the endless crossover events that you “had to” buy multiple titles to understand what was going on

Yup. No doubt it led to overload and burnout for many.

Edited June 14, 2023 by Ken Aldred

[justafan]

On 6/14/2023 at 6:18 PM, Ken Aldred said:

Yup. No doubt it led to overload and burnout for many.

Yep. Over the last few months I've seen 2 longtime ASM completists throw in the towel and another about ready to call it quits.  Can you blame them?  When every new ASM issue comes with 10-20 variant covers at $5.99+ each but being sold for $15-$50 for the exclusives and $100 for the 1:100 incentives, how is that even fun especially if the stories are spoon.

Then there's the sky high GA, SA. BA keys that have plummeted 20%-60% in value since the pandemic run up compared to better places for disposable income. Anyone selling right now that bought during the bull years are taking a loss or holding hoping for prices to rise which is tying up some money. I'm hesitant to buy anything as I'm not even sure of the value. Is it a good deal or just looks like a good deal compared to 2020 prices. 

Im also enjoying earning 5%-9.5% parking my money in treasuries, I-Bonds, and high yield savings . It might be a good time to buy comics or it could be a false bottom. And today was a good day to have money in the stock market. Maybe I should take the 20%-50% loss on a SA key and earn that back elsewhere.

[Dr. Balls]

On 6/14/2023 at 1:57 PM, ExNihilo said:

I miss Wizard and I'm baffled that a publishing company or pop culture news site hasn't bought up the rights to Wizard and re-launched it.  It'd just basically be like CBR.com, but I'd think the Wizard name would still carry a lot of goodwill with it.

I agree. Despite all the shady things Wizard did - I still think it could relaunch it's brand with lots of interest. I mean, let's be honest - with all the instagram influencer garbage out there, Wizard could be at the forefront of that trend: generating revenue, producing exclusives and hyping up the next greatest Instagram Influencer/Speculator with coordinated Wizard appearances at conventions and...

... That's exactly what they would do and careen comic books right off the edge again.

Edited June 15, 2023 by Dr. Balls

[FlyingDonut]

On 6/14/2023 at 3:41 PM, 1Cool said:

I'd suggest collector fatigue happened over the last few years where collectors got tired of trying to buy complete sets and getting discouraged when a couple shot up in price to the point they abandoned the chase.  It will be interesting to see if the guys who sold off collections when prices where top dollar (ie last few years) will miss the books and buy them back at the reduced price.

I do think we are also seeing a flipping fatigue kicking in for most of the industry.  The time frame for a book to be hot (if one pops that month) is very, very short and there is just a large risk of getting caught holding the hot potato unless you buy them dirt cheap.  As hot as the market was for quite a few years there had to be some fatigue eventually.

I am giving some thought to trying to buy back my Fantastic Four 9.8 run. I sold them at the absolute apex of the market and Mrs. Donut now has a beautiful new kitchen. I probably could get them for 60% less than I sold them for.

[Readcomix]

On 6/14/2023 at 10:10 PM, Dr. Balls said:

I agree. Despite all the shady things Wizard did - I still think it could relaunch it's brand with lots of interest. I mean, let's be honest - with all the instagram influencer garbage out there, Wizard could be at the forefront of that trend: generating revenue, producing exclusives and hyping up the next greatest Instagram Influencer/Speculator with coordinated Wizard appearances at conventions and...

... That's exactly what they would do and career comic books right off the edge again.

This. I like Wizard dead and gone. Hype train garbage IMO.

[Tec-Tac-Toe]

On 6/14/2023 at 3:57 PM, ThothAmon said:

I have approximately five copies each of Wizard one through 25 and fewer copies each of 26 through about issue 50. I purchased everything, everything, in multiples (a fool and their money and all that). They are my retirement plan. ... ... ... ... I plan to sleep on them.

[THE_BEYONDER]

On 6/14/2023 at 11:09 PM, FlyingDonut said:

I am giving some thought to trying to buy back my Fantastic Four 9.8 run. I sold them at the absolute apex of the market and Mrs. Donut now has a beautiful new kitchen. I probably could get them for 60% less than I sold them for.

[1Cool]

On 6/14/2023 at 11:09 PM, FlyingDonut said:

I am giving some thought to trying to buy back my Fantastic Four 9.8 run. I sold them at the absolute apex of the market and Mrs. Donut now has a beautiful new kitchen. I probably could get them for 60% less than I sold them for.

That is my question in a nut shell - are you really missing the books and are you serious about buying the collection back?  I'd think people like yourself will have just moved on to buying other stuff and will not have the energy or desire to buy back all those books that you sold.  The next couple years will be really telling in terms of how the market will go over the next couple decades.

[D2]

On 6/14/2023 at 5:00 PM, buttock said:

Clarification, it's speculator fatigue.

 

I must admit, I did find the youtube channel horde of HOT BOOKS! entertaining to watch... but much like any other type of  once you start seeing the truth, it quickly becomes a bunch of noise.

And with on going noise come: headaches, frustration, anger...

 

[MAR1979]

On 6/14/2023 at 3:25 PM, Dr. Balls said:

I changed prices in my shop monthly according to Wizard. And when someone challenged it with the monthly Overstreet, we poo-pooed them away. 

Possibly a contributing factor in why the majority of shops did not survive that decade?  What works during a bubble is usually poison during a bust. Wonder how many sellers will learn that in these times?

A buddy of mine opened his shop at start of the bust in 1994.  He only survived his first full year due to POG sales - remember that fad   He then quickly learned make a big deal with signage about offering books at 25% below Wizard.  After 26 years he closed shop the Summer of 2020, not due to the pandemic but to semi-retire. Actually he was going to do that in 2018 but received a great rent break on renewing his lease for 2 more years.

Edited June 15, 2023 by MAR1979

[toro]

On 6/14/2023 at 11:15 PM, Readcomix said:

This. I like Wizard dead and gone. Hype train garbage IMO.

Although it isn't quite the same I think Whatnot is the equivalent of 90s Wizard.  You still see people paying insane amount of money for garbage as some of the dealers are just big time hucksters.  They work the crowd very well, saying things like "I can't believe you are getting this for $25, this is a $100 book all day".  By the end of the auction it sells for $75 and the seller is telling the person they got this great deal, in reality the book is really worth at best $30 and they got a terrible deal.  Don't get me wrong, there are some good dealers on Whatnot but you have to look hard to find them. 

[theCapraAegagrus]

On 6/15/2023 at 9:51 AM, toro said:

Although it isn't quite the same I think Whatnot is the equivalent of 90s Wizard.  You still see people paying insane amount of money for garbage as some of the dealers are just big time hucksters.  They work the crowd very well, saying things like "I can't believe you are getting this for $25, this is a $100 book all day".  By the end of the auction it sells for $75 and the seller is telling the person they got this great deal, in reality the book is really worth at best $30 and they got a terrible deal.  Don't get me wrong, there are some good dealers on Whatnot but you have to look hard to find them. 

Modern Snake Oil is the BS hype that a salesman will massage you with.

[Cman429]

On 6/15/2023 at 9:51 AM, toro said:

Although it isn't quite the same I think Whatnot is the equivalent of 90s Wizard.  You still see people paying insane amount of money for garbage as some of the dealers are just big time hucksters.  They work the crowd very well, saying things like "I can't believe you are getting this for $25, this is a $100 book all day".  By the end of the auction it sells for $75 and the seller is telling the person they got this great deal, in reality the book is really worth at best $30 and they got a terrible deal.  Don't get me wrong, there are some good dealers on Whatnot but you have to look hard to find them. 

Yeah I watch a lot of IG live stream sales and same thing happens. Guy shows a book marked $300 while a 30 sec ebay search shows last 3-4 recent sales were for say $150-175. Someone offers $200 and he turns into Hamlet pondering the meaning of life before accepting. Sometimes they get lucky and someone buys it for $250 thinking they got a “deal” tho. Even accepting the Hamlet offer, they’re getting higher end price while not having to pay fees (or at least lower fees than feebay) so they’re making out on the deal. 

My pet peeve is when someone prices something way high then gets huffy over reasonable offers bc “I’d be taking a loss,” I get it, they’re your books, your free to ask whatever you want. But what you paid for something is not my problem. Wall Street doesn’t care if you buy widget stock for $50 and it drops to $5, that’s how speculation works. If you’re selling books either be good with CURRENT prices or be willing to sit on your throne of slabs until the market goes back up. 

[Dr. Balls]

On 6/15/2023 at 7:51 AM, toro said:

Although it isn't quite the same I think Whatnot is the equivalent of 90s Wizard.  You still see people paying insane amount of money for garbage as some of the dealers are just big time hucksters.  They work the crowd very well, saying things like "I can't believe you are getting this for $25, this is a $100 book all day".  By the end of the auction it sells for $75 and the seller is telling the person they got this great deal, in reality the book is really worth at best $30 and they got a terrible deal.  Don't get me wrong, there are some good dealers on Whatnot but you have to look hard to find them. 

That was my first and only impression of Whatnot - haven't bothered with it since. Instagram does seem intriguing, but I'm not sure I want to put in the work to gain an audience to sell books there. I'm behind the curve on how to utilize it to sell comics, and not sure I want to bother trying to play catch-up. I enjoy the boards, and if something doesn't sell here - just toss it on Ebay with a whorehouse BIN.

[valiantman]

Can someone who knows about Whatnot and Instagram live answer this question for me?

"If someone doesn't pay... then what?"

I know nothing about either site/service, but it seems like people overpaying for comics are likely to get buyer's remorse when they check ebay sales, and just not pay.

[jsilverjanet]

On 6/15/2023 at 11:00 AM, valiantman said:

Can someone who knows about Whatnot and Instagram live answer this question for me?

"If someone doesn't pay... then what?"

I know nothing about either site/service, but it seems like people overpaying for comics are likely to get buyer's remorse when they check ebay sales, and just not pay.

I think your account is charged when you commit to a purchase (on Whatnot). it's not like ebay where you commit then have to complete the purchase.

that being said i'm sure there are ways to getting out of paying for an item

Edited June 15, 2023 by jsilverjanet

[toro]

On 6/15/2023 at 12:00 PM, valiantman said:

Can someone who knows about Whatnot and Instagram live answer this question for me?

"If someone doesn't pay... then what?"

I know nothing about either site/service, but it seems like people overpaying for comics are likely to get buyer's remorse when they check ebay sales, and just not pay.

On Whatnot as soon as you win it sucks the money right out of your Paypal account in seconds. 

 

[MAR1979]

On 6/15/2023 at 12:00 PM, valiantman said:

 people overpaying for comics are likely to get buyer's remorse when they check ebay sales, and just not pay.

I'd like to add "More Ron is what More Ron does"  . 

I've never accessed the site but seems to me its rife with sheep who love being fleeced.

Edited June 15, 2023 by MAR1979

[Stefan_W]

On 6/15/2023 at 10:35 AM, Dr. Balls said:

That was my first and only impression of Whatnot - haven't bothered with it since. Instagram does seem intriguing, but I'm not sure I want to put in the work to gain an audience to sell books there. I'm behind the curve on how to utilize it to sell comics, and not sure I want to bother trying to play catch-up. I enjoy the boards, and if something doesn't sell here - just toss it on Ebay with a whorehouse BIN.

Funny you should mention this - I just set up an Instagram account and am posting some pics there. I figured I was missing out on a potential selling stream. The reality for me so far has been that it is awful to use (have to re-do each scan in a different program to make it look good) and I have the joy of trying to build an audience there. I would be thrilled if I ever sold a comic in that format, and I am pretty resigned in that my sales will come from Facebook, Ebay, and in-person comic shows in that order.