Mile high comics prices 3 3

[BA773]

LOL

Is it someone who buy at these guys?

Every modern drek are priced for 20 dollar or more. Every keys are priced for at least 3x the value... 

I want to understand the concept. Is it some rich people who buy to this place to be proud of spending a lot of money? This is make no sense

[LadyDeath]

That's what they're most known for. People say it's because he doesn't actually want to sell his comics so he keeps them overpriced. It's more like a museum.

[rlextherobot]

On 11/23/2023 at 12:49 PM, LadyDeath said:

That's what they're most known for. People say it's because he doesn't actually want to sell his comics so he keeps them overpriced. It's more like a museum.

He actually laid it out in his newsletter a while back. Here's the quote: 

"Commencing approximately eight years ago, I implemented two radical foundational changes at Mile High Comics. The first was to no longer file our back issue comic books alpha/numerically(by publisher), relying instead on an individually-assigned internal identifying number. The second change, which was directly enabled by the amazing success of our new Jason St. Mega-Store, was to totally abandon our previous strategy of market-based pricing, and to instead switch to a pricing model that reflected our full replacement and carrying costs of stocking our truly vast array of back issue comics.

Not surprisingly, consumer resistance to our replacement cost pricing model was widespread, and oftentimes quite vociferous. Those antagonistic criticisms deterred me not in the least, however, as decades of fruitless struggle against low-cost competitors (typically private individuals operating fly-by-night businesses out of their spare bedrooms and/or garages) convinced me that we had to rebrand ourselves, or die.

During the first several years after I initiated those radical pricing changes, we found ourselves abandoned by approximately 90% of our clients. At our lowest point, it truly looked like I had needlessly destroyed the financial underpinnings of my entire company. Then, almost miraculously, our operating results began turning around. While our unit sales remained drastically lower than in the past, our slow, but steady, incremental gains in the breadth (and depth) of our inventory attracted an entirely new class of clients, dedicated fans who were willing to pay a premium for the privilege of accessing the largest comic book inventory in the world. It took us several more years, but we eventually regained our previous sales levels, but now with dramatically lower operating costs.

Were I to be solely motivated by profit, this wonderful validation of the merits of my long term strategy could conceivably allow me to now pocket considerable operating cash flow. That is, quite honestly, the furthest thing from my mind, however, as my sole motivation as I grow ever-closer to my own impending dotage is the continuing enhancement of our inventory selections. While we already offer the most diverse array of old comic books of any retailer in America, I am wedded to the premise that we should strive to have in stock (and immediately available) every single back issue that one of our clients might be seeking on any given day. That is (of course) an impossible mission, but I continue to work very hard each day try to come closer to that heavenly outcome.

[...]

All of the previous having been said, it is certainly true that we could have priced our comics lower, and thus probably have sold the vast majority of those comic books during the past eight years. But, where is the benefit in constantly blowing everything out, only to then have to lay out enormous sums in labor and supplies to replace those exact same comics? Nope, nope, nope. I jumped off of that gerbil wheel of endless inventory replacement eight years ago, and I truly could not be happier with my decision. Simply put, the are moments in life when you have to find the courage to abandon your own mindless adherence to the dominate paradigm to which everyone else bows down, and to then forge your own way. If my experience is any indicator, following your own path is the only way to (eventually) achieve real success."
 

tl;dr, Chuck prices high so he doesn't have to spend as much time restocking and can maintain a large inventory. I have to assume its been working for him because he remains in business, but it still sounds bananas to me. 

[paperheart]

the insurance proceeds from the eventual fire will be epic

[comicstock]

Wonder how he's doing post-Covid?

[BA773]

On 11/23/2023 at 10:01 PM, rlextherobot said:

He actually laid it out in his newsletter a while back. Here's the quote: 

"Commencing approximately eight years ago, I implemented two radical foundational changes at Mile High Comics. The first was to no longer file our back issue comic books alpha/numerically(by publisher), relying instead on an individually-assigned internal identifying number. The second change, which was directly enabled by the amazing success of our new Jason St. Mega-Store, was to totally abandon our previous strategy of market-based pricing, and to instead switch to a pricing model that reflected our full replacement and carrying costs of stocking our truly vast array of back issue comics.

Not surprisingly, consumer resistance to our replacement cost pricing model was widespread, and oftentimes quite vociferous. Those antagonistic criticisms deterred me not in the least, however, as decades of fruitless struggle against low-cost competitors (typically private individuals operating fly-by-night businesses out of their spare bedrooms and/or garages) convinced me that we had to rebrand ourselves, or die.

During the first several years after I initiated those radical pricing changes, we found ourselves abandoned by approximately 90% of our clients. At our lowest point, it truly looked like I had needlessly destroyed the financial underpinnings of my entire company. Then, almost miraculously, our operating results began turning around. While our unit sales remained drastically lower than in the past, our slow, but steady, incremental gains in the breadth (and depth) of our inventory attracted an entirely new class of clients, dedicated fans who were willing to pay a premium for the privilege of accessing the largest comic book inventory in the world. It took us several more years, but we eventually regained our previous sales levels, but now with dramatically lower operating costs.

Were I to be solely motivated by profit, this wonderful validation of the merits of my long term strategy could conceivably allow me to now pocket considerable operating cash flow. That is, quite honestly, the furthest thing from my mind, however, as my sole motivation as I grow ever-closer to my own impending dotage is the continuing enhancement of our inventory selections. While we already offer the most diverse array of old comic books of any retailer in America, I am wedded to the premise that we should strive to have in stock (and immediately available) every single back issue that one of our clients might be seeking on any given day. That is (of course) an impossible mission, but I continue to work very hard each day try to come closer to that heavenly outcome.

[...]

All of the previous having been said, it is certainly true that we could have priced our comics lower, and thus probably have sold the vast majority of those comic books during the past eight years. But, where is the benefit in constantly blowing everything out, only to then have to lay out enormous sums in labor and supplies to replace those exact same comics? Nope, nope, nope. I jumped off of that gerbil wheel of endless inventory replacement eight years ago, and I truly could not be happier with my decision. Simply put, the are moments in life when you have to find the courage to abandon your own mindless adherence to the dominate paradigm to which everyone else bows down, and to then forge your own way. If my experience is any indicator, following your own path is the only way to (eventually) achieve real success."
 

tl;dr, Chuck prices high so he doesn't have to spend as much time restocking and can maintain a large inventory. I have to assume its been working for him because he remains in business, but it still sounds bananas to me. 

Oh my god i think i find something... this guy opened my eyes, tommorow i put every of my comics on ebay for 10x the value! The guy so smart, damn!

[stormflora]

The idea is that he will have hard to acquire issues available when others don't. He's banking on those sales.

Rich people who want convenience will buy from him, as well as stores like Doug Sulipa's. They cater to them, not us.

Edited November 23, 2023 by stormflora

[rlextherobot]

On 11/23/2023 at 1:40 PM, stormflora said:

The idea is that he will have hard to acquire issues available when others don't. He's banking on those sales.

Rich people who want convenience will buy from him, as well as stores like Doug Sulipa's. They cater to them, not us.

Don't think Doug is anywhere close to Mile High in terms of bonkers pricing. He's high on some things, average on others. 

[JQ Comics]

On 11/23/2023 at 1:01 PM, rlextherobot said:

He actually laid it out in his newsletter a while back. Here's the quote: 

"Commencing approximately eight years ago, I implemented two radical foundational changes at Mile High Comics. The first was to no longer file our back issue comic books alpha/numerically(by publisher), relying instead on an individually-assigned internal identifying number. The second change, which was directly enabled by the amazing success of our new Jason St. Mega-Store, was to totally abandon our previous strategy of market-based pricing, and to instead switch to a pricing model that reflected our full replacement and carrying costs of stocking our truly vast array of back issue comics.

Not surprisingly, consumer resistance to our replacement cost pricing model was widespread, and oftentimes quite vociferous. Those antagonistic criticisms deterred me not in the least, however, as decades of fruitless struggle against low-cost competitors (typically private individuals operating fly-by-night businesses out of their spare bedrooms and/or garages) convinced me that we had to rebrand ourselves, or die.

During the first several years after I initiated those radical pricing changes, we found ourselves abandoned by approximately 90% of our clients. At our lowest point, it truly looked like I had needlessly destroyed the financial underpinnings of my entire company. Then, almost miraculously, our operating results began turning around. While our unit sales remained drastically lower than in the past, our slow, but steady, incremental gains in the breadth (and depth) of our inventory attracted an entirely new class of clients, dedicated fans who were willing to pay a premium for the privilege of accessing the largest comic book inventory in the world. It took us several more years, but we eventually regained our previous sales levels, but now with dramatically lower operating costs.

Were I to be solely motivated by profit, this wonderful validation of the merits of my long term strategy could conceivably allow me to now pocket considerable operating cash flow. That is, quite honestly, the furthest thing from my mind, however, as my sole motivation as I grow ever-closer to my own impending dotage is the continuing enhancement of our inventory selections. While we already offer the most diverse array of old comic books of any retailer in America, I am wedded to the premise that we should strive to have in stock (and immediately available) every single back issue that one of our clients might be seeking on any given day. That is (of course) an impossible mission, but I continue to work very hard each day try to come closer to that heavenly outcome.

[...]

All of the previous having been said, it is certainly true that we could have priced our comics lower, and thus probably have sold the vast majority of those comic books during the past eight years. But, where is the benefit in constantly blowing everything out, only to then have to lay out enormous sums in labor and supplies to replace those exact same comics? Nope, nope, nope. I jumped off of that gerbil wheel of endless inventory replacement eight years ago, and I truly could not be happier with my decision. Simply put, the are moments in life when you have to find the courage to abandon your own mindless adherence to the dominate paradigm to which everyone else bows down, and to then forge your own way. If my experience is any indicator, following your own path is the only way to (eventually) achieve real success."
 

tl;dr, Chuck prices high so he doesn't have to spend as much time restocking and can maintain a large inventory. I have to assume its been working for him because he remains in business, but it still sounds bananas to me. 

[ADAMANTIUM]

On 11/23/2023 at 4:00 PM, JQ Comics said:

"I almost bankrupt my business by raising prices due to usual overhead that seemed like circular thinking, but then a fresh batch of 'people' came in and I thought myself an innovator and pioneer. Fancy that! I can't quit now, so watch how I continue to reinvent the wheel of commerce!" 

Edited November 23, 2023 by ADAMANTIUM

[ADAMANTIUM]

Or?

I raised prices that was more than the cost of my overhead and I almost bankrupt my business, because to sell and replace seemed silly to then just sell again. New 'people went for it', so I could totally raise prices again now but I'm 'not really trying to get rich quick' because I'm a pioneer and trudging the market like no one ever has before!"

Edited November 23, 2023 by ADAMANTIUM

[ADAMANTIUM]

He totally admitted to trying to rip people off and everyone stopped buying, but at the last minute it ended up working!

He could rip people off more, he's convinced now, but he's not that greedy due to being the pioneer!

 

Edited November 23, 2023 by ADAMANTIUM

[Stefan_W]

On 11/23/2023 at 4:31 PM, BA773 said:

Oh my god i think i find something... this guy opened my eyes, tommorow i put every of my comics on ebay for 10x the value! The guy so smart, damn!

Everyone else on Ebay is way ahead of you

[shadroch]

On 11/23/2023 at 2:31 PM, BA773 said:

Oh my god i think i find something... this guy opened my eyes, tommorow i put every of my comics on ebay for 10x the value! The guy so smart, damn!

He's been a major dealer since the mid-70s, and revolutionized the industry when he started selling the Church books at multiples of guide.  He's forgotten more than you'll learn in the next decade.

[stormflora]

It all boils down to convenience and availability. His store caters to people who want what they need and fast.

It's really no difference from you going into a discount supermarket compared to a higher end supermarket, even though both of them stock hundreds of goods that are available in both stores, but with the former being cheaper. Yet, people still go into the latter anyway.

[ADAMANTIUM]

On 11/23/2023 at 4:57 PM, stormflora said:

It all boils down to convenience and availability. His store caters to people who want what they need and fast.

It's really no difference from you going into a discount supermarket compared to a higher end supermarket, even though both of them stock hundreds of goods that are available in both stores, but with the former being cheaper. Yet, people still go into the latter anyway.

Short and sweet that's true 😜

I just laughed at how Todo he thought and sounded of his innovative and groundbreaking achievements. Like the math still seemed right to him, and he knows his clientele better, because I don't buy from him and am not his clientele

 

If it it works for him and is legal? Whatcha gonna do.... 

 

[stormflora]

On 11/23/2023 at 6:05 PM, ADAMANTIUM said:

Short and sweet that's true 😜

I just laughed at how Todo he thought and sounded of his innovative and groundbreaking achievements. Like the math still seemed right to him, and he knows his clientele better, because I don't buy from him and am not his clientele

 

If it it works for him and is legal? Whatcha gonna do.... 

 

It's business, really. Many higher end merchants care more about the individual whales who pay for one purchase to cover 10 people's worth of purchases. You would be surprised how many people out there need something, but nobody has it. Or they themselves are middlemen for other clients who pay them to find them these items, no matter the cost.

If Mile High wasn't making a net profit, they would be cutting down the prices. There's property taxes and income taxes and so on to consider, after all. You don't just own a plot of land for free without any taxes to pay and free food to put on the table.

[ADAMANTIUM]

On 11/23/2023 at 5:18 PM, stormflora said:

It's business, really. Many higher end merchants care more about the individual whales who pay for one purchase to cover 10 people's worth of purchases. You would be surprised how many people out there need something, but nobody has it. Or they themselves are middlemen for other clients who pay them to find them these items, no matter the cost.

If Mile High wasn't making a net profit, they would be cutting down the prices. There's property taxes and income taxes and so on to consider, after all. You don't just own a plot of land for free without any taxes to pay and free food to put on the table.

Ya ya I know. He's the one who chose to put out that worded letter, which itself conveys, that he admittedly raised it "more than he either needed or was appropriate." He puts it as more than the cost of overhead, which would be paying all his employees including himself.

What got me chuckling at Chuck was customers didn't approve, but when new ones did he thought he was a genius to write myth confirmed as a proven hypothesis or some other thing that he somehow overcame.

Tbh he wrote plainly which makes a bad light of it, as simple as I put it that's how I took it. Like he's laughing all the way to the bank cause a hunch worked and brags that he could charge more! But won't,  bless his heart! @stormflora

If he's got hard to find stuff, then sure he should get fmv, and he must be doing that somehow in order to stay afloat with a progressive future, but that said it's not what he explained to me

No worries. 

Edited November 23, 2023 by ADAMANTIUM

[ADAMANTIUM]

In short this thread was started because of mile high prices, and thanks to his newsletter were supposed to believe that they should be EVEN HIGHER?

[Gambold Vintage]

Two thoughts:

Mile High made their bones and big money a long time ago.  The owners could have sold it all out and retired  - I'm pretty sure they are still in this because of a genuine love for the hobby, and like they said, they wanted to get out of the endless inventory chase.  

Comic book stores, like any other business, work in a free market. Some people buy their broccoli at Whole Foods - others shop at ALDI. Both chains are thriving, and neither is "ripping people off." You want to find the lowest price? Comparison shop - there are a lot of good dealers out there ready to work with you. 

I don't see what the problem is. Too expensive? Don't shop there.