Auction has just started and set a new record for Action #1. 7 7

[grendelbo]

Anyone care to guess why the cert # can't be found?

[Readcomix]

Hmm… 

[grendelbo]

 

On 3/15/2024 at 10:01 PM, szav said:

That's odd, but the graders notes are listed on the HA listing for the item, which look accurate.

CGC Grader Notes:
small bindary tear top of spine
small crease left top of back cover
tear with crease top of front cover
very light staple rust

Yeah, but even HA's link to the notes (which is merely a link to the verification) yields the same non-results.

If I was into conspiracies I'd say.... 

Edited March 16 by grendelbo

[grendelbo]

 

[tth2]

On 3/16/2024 at 8:21 AM, Readcomix said:

As @shadroch said, a rising tide lifts all boats. But the very best boats do get lifted disproportionately to all others.

I don't know about that.  I'm always reading on these Boards that the ultra-low grade books have actually outperformed the high end books (on a percentage basis, of course).

[tth2]

On 3/16/2024 at 9:54 AM, adamstrange said:

On 3/16/2024 at 7:21 AM, PopKulture said:

In the 70’s, a serious die-hard comic collector could sacrifice and make owning an Action 1 a reality, as it was several times lower in price than an average annual income.

I have RBCC issues from the 70s.  There is more than one article lamenting the inability to collect like they used to.

I've been collecting for over 40 years and can confirm that the only time prices have ever seemed cheap is when they're viewed in the rearview mirror.

[Readcomix]

On 3/16/2024 at 12:36 AM, tth2 said:

I don't know about that.  I'm always reading on these Boards that the ultra-low grade books have actually outperformed the high end books (on a percentage basis, of course).

Fair point; we see that a lot. I probably didn’t word it exactly. I mean there’s a subset who throws dollars at the perceived best of best. (The new record highs come from somewhere). But on a percentage basis, the whale chasers may well have the effect of lifting others proportionally further along.

[tth2]

On 3/16/2024 at 11:10 AM, adamstrange said:

I was surprised at how early on this concern was raised.

I would guess it was the first time someone tried to charge more than cover price for a comic.

 

[lou_fine]

On 3/15/2024 at 9:01 PM, szav said:

On 3/15/2024 at 8:45 PM, grendelbo said:

Anyone care to guess why the cert # can't be found?

That's odd, but the graders notes are listed on the HA listing for the item, which look accurate as far as what's visible in the scans.

 

On 3/15/2024 at 9:03 PM, grendelbo said:

 

Yeah, but even HA's link to the notes (which is merely a link to the verification) yields the same non-results.

If I was into conspiracies I'd say.... 

This rather strange and critical inconsistency in the CGC serial number for the Kansas City copy of Action Comics 1 was already alluded to in a post by our very own master sleuth hiself, i.e. @MasterChief, in the ASM 252 thread earlier last month:    

On 2/24/2024 at 10:11 PM, MasterChief said:

 

Kansas City copy of Action Comics #1: Initially authenticated and certified in 2010 as 8.0 with OFF-WHITE Pages. The book is now an 8.5 with OFF-WHITE TO WHITE Pages. It has a new grade date of 11/04/2021 (exact same certification number as the 8.0 copy).

 

 

[lou_fine]

On 3/15/2024 at 8:19 PM, sfcityduck said:

Others I thought would sell by now but would rather hold than sell even with the astronomical increases because (1) they love the book and (2) probably have FOMO of missing the book and the constant increase in value more than they want the money. But the clock is ticking ...

If the owners live in the United States, I believe you forgot to include Reason #3 which might just be the most important:  

3)  The step-up taxation provision which adjusts the value or cost basis of an inherited asset when it is passed on by the owner after death, which basically reduces or even eliminates any capital gains taxes owing on the sale of the inherited asset.  

Edited March 16 by lou_fine

[grendelbo]

So the data is absent because this book should've received a new cert # because it was "regraded"? 

[tth2]

On 3/16/2024 at 3:50 PM, lou_fine said:

On 3/16/2024 at 12:01 PM, szav said:

On 3/16/2024 at 11:45 AM, grendelbo said:

Anyone care to guess why the cert # can't be found?

That's odd, but the graders notes are listed on the HA listing for the item, which look accurate as far as what's visible in the scans.

 

On 3/16/2024 at 12:03 PM, grendelbo said:

 

Yeah, but even HA's link to the notes (which is merely a link to the verification) yields the same non-results.

If I was into conspiracies I'd say.... 

This rather strange and critical inconsistency in the CGC serial number for the Kansas City copy of Action Comics 1 was already alluded to in a post by our very own master sleuth hiself, i.e. @MasterChief, in the ASM 252 thread earlier last month:    

On 2/25/2024 at 2:11 PM, MasterChief said:

 

Kansas City copy of Action Comics #1: Initially authenticated and certified in 2010 as 8.0 with OFF-WHITE Pages. The book is now an 8.5 with OFF-WHITE TO WHITE Pages. It has a new grade date of 11/04/2021 (exact same certification number as the 8.0 copy).

 

Expand  

 

We're literally posting on a CGC message board.  Can't someone just ask Mike or someone else at CGC what the story is?

[grendelbo]

On 3/16/2024 at 10:31 AM, tth2 said:

We're literally posting on a CGC message board.  Can't someone just ask Mike or someone else at CGC what the story is?

@CGC Mike 

[Crowzilla]

On 3/15/2024 at 11:10 PM, adamstrange said:

You're welcome.  There are more articles, including complaints that the Overstreet Guide is pushing up prices, but to find them I'd have to go back through my collection of RBCCs.

I was surprised at how early on this concern was raised.

It's hard for collectors from the last 30 years to imagine a time when the rise in prices of Overstreet were seen as too aggressive. My first copy of the Guide was #10 (had been aware of it earlier, but when the price for a copy was equal to 25-30 new comics, it was easier just to flip through a copy at Waldenbooks all the time), and even then it was hard to find hot books at anywhere near Guide prices.

I do like the article by Bob Pinaha though - supposedly at a time when strip books like Feature 26 and Single Series 20 were just as in demand as Superheroes, he was appalled that evil capitalists would be pointing out that first appearances and pre-code horror would be the investments for the future. Remember, we can easily fight these people (who aren't "true" collectors anyways ) by not buying overpriced comics. Once we do that, all the prices will drop. Let's make an agreement to only sell comics for a max of 1/2 GPA from now on. You go first.

[CGC Mike]

On 3/16/2024 at 12:36 PM, grendelbo said:

On 3/16/2024 at 12:31 PM, tth2 said:

We're literally posting on a CGC message board.  Can't someone just ask Mike or someone else at CGC what the story is?

@CGC Mike 

The Action #1 was reviewed at the later date and bumped up in grade under the same serial number. This was true for the Superman #1 also. We do this with page quality reviews as well. 

 

[tth2]

On 3/17/2024 at 7:46 AM, CGC Mike said:

The Action #1 was reviewed at the later date and bumped up in grade under the same serial number. This was true for the Superman #1 also. We do this with page quality reviews as well. 

 

Thanks Mike, but the question is why does putting in the serial number in CGC's system result in the following? 

 

 

[tth2]

On 3/17/2024 at 6:08 AM, Crowzilla said:

It's hard for collectors from the last 30 years to imagine a time when the rise in prices of Overstreet were seen as too aggressive. My first copy of the Guide was #10 (had been aware of it earlier, but when the price for a copy was equal to 25-30 new comics, it was easier just to flip through a copy at Waldenbooks all the time), and even then it was hard to find hot books at anywhere near Guide prices.

I do like the article by Bob Pinaha though - supposedly at a time when strip books like Feature 26 and Single Series 20 were just as in demand as Superheroes, he was appalled that evil capitalists would be pointing out that first appearances and pre-code horror would be the investments for the future. Remember, we can easily fight these people (who aren't "true" collectors anyways ) by not buying overpriced comics. Once we do that, all the prices will drop. Let's make an agreement to only sell comics for a max of 1/2 GPA from now on. You go first.

My recollection is that people who already owned a certain book or wanted to sell a book were delighted by rises in the Guide, while those who didn't already own it and wanted to buy one were angered by rises in the Guide.

It seems incredible that such a dichotomy could exist, and yet it's true! 

[sfcityduck]

On 3/16/2024 at 10:17 PM, tth2 said:

My recollection is that people who already owned a certain book or wanted to sell a book were delighted by rises in the Guide, while those who didn't already own it and wanted to buy one were angered by rises in the Guide.

It seems incredible that such a dichotomy could exist, and yet it's true! 

Its human nature. The controversy according to some was that Bob allegedly dampened the prices on books he needed and inflated the prices on books he had. I don't know if there was any truth to that. All I know is that after the guide came out, comics that hadn't sold for a year were suddenly getting price increases at the comic stores. Even I understood that made no real sense.

[CGC Mike]

On 3/17/2024 at 1:15 AM, tth2 said:

Thanks Mike, but the question is why does putting in the serial number in CGC's system result in the following? 

 

 

Sorry about that.  I will make sure this is fixed tomorrow.

[onlyweaknesskryptonite]

On 3/15/2024 at 11:41 AM, Brandon Shepherd said:

I remember back in 2009 or 2010 when Action #1 broke the one million record. That got a lot of people talking. 

I wonder how many times that  Kansas City copy has been ReHoldered.

On 3/15/2024 at 11:49 AM, thedude said:

Well I'm not, but it's cool to see records broken, it was this same book that broke the million dollar threshold back in 2010.