Have any of you gotten lucky with comic lot auctions? 1 1

[stormflora]

I've been browsing through auctions of comic lots, and are intrigued by them. There's always the chance of winning the lottery with some estate liquidation box that turns out to contain some expensive comics. And as long as you don't throw too much at the auction, you still have a decent chance of breaking even via resale if it really turns out to be a box of trash.

Naturally, it's a competitive market and people are obviously going to bid heavily on them (especially near the end), but I'm considering throwing a bid in at around half the price of the comic quantity stated (e.g. $50 for a 100 lot) and rolling the dice with that. I'm mostly going to focus on auctioneers that are not comic experts/collectors or look like comic liquidators, as those are likely to sell cherry picked boxes already.

Have you tried some lots out, and if so, what was your experience like?

[seanlinc]

I've looked at alot of these and bid on some. I've found they get overpaid for quite often idk if it's people getting in bidding wars or what but I don't see the value sometimes. I have done ok with the few I've won gotten some decent minor keys and such I tend to dip out at around $50 or less.

[shadroch]

I do well with most auctions, but I've been doing it for over forty years and learned most of the pitfalls. There is a learning curve, so be prepared.

[stormflora]

On 11/21/2023 at 7:24 AM, seanlinc said:

I've looked at alot of these and bid on some. I've found they get overpaid for quite often idk if it's people getting in bidding wars or what but I don't see the value sometimes. I have done ok with the few I've won gotten some decent minor keys and such I tend to dip out at around $50 or less.

Yeah, that's what I'm planning to do as well, considering that I'd have to pay for the shipping too, which would likely double the cost. There is a strong possibility that at least half of the comics in a box are junk, although you might be able to get some value back out of those by actually reading them and perhaps even heat pressing them at home to raise their grade a little. Of course, that's probably not something anyone would actually do unless they are a genuine reader and not a mass reseller.

On 11/21/2023 at 10:22 AM, shadroch said:

I do well with most auctions, but I've been doing it for over forty years and learned most of the pitfalls. There is a learning curve, so be prepared.

What would be the biggest pieces of advice you could provide? Am I on the right track with my considerations as a rookie at this time?

[shadroch]

My advice is to go slow and be disciplined.   It is very easy to get caught up in bidding and spend more than you intended. 

Never get into punishment bidding. It will bite you in the when you least expect it.

[stormflora]

On 11/21/2023 at 11:58 AM, shadroch said:

My advice is to go slow and be disciplined.   It is very easy to get caught up in bidding and spend more than you intended. 

Never get into punishment bidding. It will bite you in the when you least expect it.

The approach I'm looking to take right now (like any other online auction such as eBay) is to just throw my maximum bid at the listing during the very last minute. It's always worked out well, as most bidders do not spend the time to watch over an auction like a hawk. I'm thinking of offering $1 for every two comics, but I'm not sure if that's over- or underpriced.

[Artboy99]

I collect Marvel Value Stamp related things which includes comics (with stamps), booklets, posters, etc.

Browsing Ebay one day i found a lot that had all 100 stamps on the pages removed from the books - tailor made for me!

I purchased the lot and when it arrived i discovered there were other pages included. I was thrilled to find this page which i have framed for display.

Edited November 21, 2023 by Artboy99

[Robot Man]

I no longer play the “lot” game. Always get stuck with a lot of junk that I have to get rid off. Why do you think the seller had a “lot” auction.

I would much prefer to pay a little more and get the few books I really want.

I was at a flea market a while back and the seller was selling a whole box as a lot. I found a half dozen books I wanted that were worth more of the price of the lot. I paid the lady, took the books I wanted and left the rest. She was kind of suprised. But I didn’t want to deal with the rest.

I’m not a gambler. If I don’t know what I’m buying, I just pass…

[BA773]

It could be funny to play the game of the mystery box but i have just too much collecting goals and above all limited funds to allow me this kind of things.

[BlowUpTheMoon]

 

[Jesse-Lee]

Only on eBay lots:

 

I've bought some lots from auction houses, but by the time you pay their ridiculous "buyer's premiums" and usually outlandish shipping rates - and you get the books shoved into a manila envelope with so packing materials anyway - it's just not usually worth it to me.

[stormflora]

On 11/22/2023 at 12:54 PM, Jesse-Lee said:

Only on eBay lots:

 

I've bought some lots from auction houses, but by the time you pay their ridiculous "buyer's premiums" and usually outlandish shipping rates - and you get the books shoved into a manila envelope with so packing materials anyway - it's just not usually worth it to me.

Unfortunately, I'm not an expert in superhero comics, so I wouldn't know heads or tails as to what series and issues are worth $$$. I'm assuming that, with those eBay lots, you managed to secure some that had key issues that made them worth more than your actual investment.

I guess, with auctioned lots, the goal is to actually know what it is you're investing in. Maybe the average joe might think of those comics as $1 dollar bin unsold stock (because no seller in their right mind would liquidate key issues if they knew about them), but collectors would know that one or two of those issues are worth $50-100 a pop. Otherwise, the chance is extremely likely with a blindly purchased lot that it is precisely that: unsellable junk stock.

Edited November 22, 2023 by stormflora

[Beige]

You won't do well buying 'lots' from sellers who deal mostly with comics.

 

They tend to know the current value.

 

I look for random sellers with poor pics who have just found them in a yard sale or pops old shed and want to make a quick $$$ or three.

 

Off the top of my head - two awful pics of rolled up and scruffy drek comics - but in the back row - Phantom issues #70 + #95 (IIRC) - bought the lot for $50, and sold the 2 Phantoms for over $800.

 

Always look at the pics - but of course, you need history in this caper to identify comics with just an inch or two showing.

 

Most people are too lazy to put the time in - that's your advantage right there.

 

Learn, and you'll spot a key in a crowd of drek and make a buck or two.

[shadroch]

It depends on what your goals are. Fifty cents a pop for reading material is great.  If you are looking to flip for profit, not so much.   I am now charging $29.99  to ship up to one hundred comics domestically, and Canada would be double that, at least.   

Most auctions have surcharges, so a .50 cent book costs you .58 cents plus around fifty cents to ship.  You won't make money buying at those prices. If you want reading material, it is cheaper than buying new books

[stormflora]

On 11/22/2023 at 5:32 PM, Beige said:

You won't do well buying 'lots' from sellers who deal mostly with comics.

 

They tend to know the current value.

 

I look for random sellers with poor pics who have just found them in a yard sale or pops old shed and want to make a quick $$$ or three.

 

Off the top of my head - two awful pics of rolled up and scruffy drek comics - but in the back row - Phantom issues #70 + #95 (IIRC) - bought the lot for $50, and sold the 2 Phantoms for over $800.

 

Always look at the pics - but of course, you need history in this caper to identify comics with just an inch or two showing.

 

Most people are too lazy to put the time in - that's your advantage right there.

 

Learn, and you'll spot a key in a crowd of drek and make a buck or two.

Yeah, that's the mindset I have as well. Most sellers are likely to be experienced enough in the field to have already screened and pulled out anything of value in those lots, leaving you wish a ton of junk to have to flip to make a little bit of profit after a lot of labour involved with all of the listings. Simply not worth the payoff.

Hence, the only lots that have potential are ones that look like they're estate sales or from some ordinary joe's yard sale. Have to really screen online sellers for this sort of thing, and you're not going to encounter more than a few of them once a year, so it's not a viable long-term solution for income.

On 11/22/2023 at 5:49 PM, shadroch said:

It depends on what your goals are. Fifty cents a pop for reading material is great.  If you are looking to flip for profit, not so much.   I am now charging $29.99  to ship up to one hundred comics domestically, and Canada would be double that, at least.   

Most auctions have surcharges, so a .50 cent book costs you .58 cents plus around fifty cents to ship.  You won't make money buying at those prices. If you want reading material, it is cheaper than buying new books

I see. Yeah, it's definitely a poor return on investment. Okay for someone to have some cheap comics to read, but not if their intention is to flip it.

[Robot Man]

On 11/22/2023 at 9:54 AM, Jesse-Lee said:

Only on eBay lots:

 

I've bought some lots from auction houses, but by the time you pay their ridiculous "buyer's premiums" and usually outlandish shipping rates - and you get the books shoved into a manila envelope with so packing materials anyway - it's just not usually worth it to me.

I have done real well selling big lots of comics through small local auction houses. There are a lot of non comic folks out there that hear comics bring “big money”. I put together lots of junk. Sprinkle in some “10 centers”, low grade superheroes, and just enough eye candy to get these folks excited. Then let bidding fever take off. I have moved on a bunch of stuff that would never sell to collectors and gotton some real great prices. 

[shadroch]

Read comics, flip burgers.

[Happy Noodle Boy]

On 11/21/2023 at 8:23 PM, Robot Man said:

I no longer play the “lot” game. Always get stuck with a lot of junk that I have to get rid off. Why do you think the seller had a “lot” auction.

I would much prefer to pay a little more and get the few books I really want.

I was at a flea market a while back and the seller was selling a whole box as a lot. I found a half dozen books I wanted that were worth more of the price of the lot. I paid the lady, took the books I wanted and left the rest. She was kind of suprised. But I didn’t want to deal with the rest.

I’m not a gambler. If I don’t know what I’m buying, I just pass…

I'm the same way. I'm building a small, "curated" collection and I don't want to have to deal with selling off books I don't want. Pricing and selling filler books takes time I wouldn't want to spend, and dealing with ebay buyers is stress I don't want. I would have done the same thing you did, took the books I wanted and let the seller keep the books I didn't. Also the problem with "lot" auctions is condition. I don't want lower grade stuff, and I want to know the grade of each book, not an "average grade" for the whole lot that sellers usually give. 

[stormflora]

On 11/24/2023 at 10:31 AM, Happy Noodle Boy said:

I'm the same way. I'm building a small, "curated" collection and I don't want to have to deal with selling off books I don't want. Pricing and selling filler books takes time I wouldn't want to spend, and dealing with ebay buyers is stress I don't want. I would have done the same thing you did, took the books I wanted and let the seller keep the books I didn't. Also the problem with "lot" auctions is condition. I don't want lower grade stuff, and I want to know the grade of each book, not an "average grade" for the whole lot that sellers usually give. 

Very reasonable and logical take on lots. Indeed, selling off unnecessary comics = time + labour. Plus competition, considering that there are hundreds of sellers (on eBay) likely selling the same comics for only a few bucks each. It might be worth it at some garage/yard sale where you can buy a box of 100-200 comics for $20-40, but any higher and it sounds like glorified trash removal for the landlord.

[LowGradeBronze]

I tend to put in first bid prices and hope no-one else bids. Most often I don't win, but when I do it's bargain time.

I did well once on one of those dutch auctions. Despite my lowish bid, I was one of the lucky winners and got a great value bundle of 1970s Marvel and DC in high grade. It included Millie the Model, New Gods and others I can't recall off the bat, but were all good books. I asked the seller for the 'origin story' of these lots and he said that two brothers regularly bought books off the newsstands, read them once then set them aside. Time passed, the seller acquired the whole collection from their mum, clearing out cupboards, and they were batched up in lots for blind auction. (He didn't tease by saying the collection had this or that rarity, which someone would win at random, it was all very straight up.)

 

Edit: No-one has mentioned estate sales in this thread. They are a potential source of buying in bulk.

Edited November 24, 2023 by LowGradeBronze