Has collecting comics distorted your sense of monetary value?

[BestOf7-migration]

I'm with you 100% (and, coincidentally, I'm also in the market for a nice digital camera)

 

Here is a web site no digital camera consumer should be without. I just purchased the Sony DSC F717. Not the most practical camera for travelling around with, but incredible quality. For a good throwaround camera, look into a Canon Powershot or Nikon Coolpix.

[BestOf7-migration]

I barely spent money until I got back to comics...now the pursuit of money in my career is motivated almost entirely by the desire to grow my collection. So I guess comics have turned me into a greedy, capitalist pig overly obsessed with material possession. What a great hobby!!!

 

The score at the end of the first intermission

 

Comic Hobbyist 7

Marxist 0

 

[Rob]

The bigger question is, how many of us are spending money on comics that we should be putting away for retirement or our kids' education? Please tell me you save at least 10% of your income before buying comics.

[chromium]

The bigger question is, how many of us are spending money on comics that we should be putting away for retirement or our kids' education?

 

Well that's one of the benefits of living in a country where most things (including your income) is taxed between 25% and 55%...

No need to worry about retirement and college is free...

My wife and I do have our own little plan though, part of our income is used to buy condos in Spain, with the European market, Spain will turn out to be Europe's Florida, Nice weather all year round, clean air and cheap to live. In about 20 years time lots of people from the north of Europe will want to retire to a warmer climate...

A much safer bet than buying high grade books...boring yes...but safe as milk

[drbanner]

Please tell me you save at least 10% of your income before buying comics.

 

I would bet that there are people on this board that spend every extra penny they can scrape together on comics, in lieu of buying other material possessions, saving for retirement, travelling, etc.,.

 

I do believe that the hobby distorts the real value of money, especially for collectors (not referring to full-time dealers) that finance their comic purchases with comic sales. It becomes a numerical figure on the computer screen (just like the stock market!) rather than a loaf of bread, new tires for the car, or the latest slip-n-slide model for the kids. If I see a nice Timely or early silver age Marvel that I want, I'll plop down several hundred bucks for it without blinking...IF the money is there in the "comic" fund to be spent.

 

That said, if spending all your money buying comic books is what floats your boat, then that's what floats your boat and I say go for it! People shouldn't let the values of others influence their own values, and spending/saving/wasting $$ is a very personal thing. So my advice is to read the lectures by the financial dilligence patrol with a grain of salt folks, and have fun with the hobby...

[MuadDib]

My only concern with buying books (especially slabbed) for $1000+ is whether, when I need the money reaaaallly badly in the future, will they sell for the same amount if not more...? Otherwise, I think collecting books is (obviously) fun and a great investment, and one shouldn't worry that the money is being thrown away on comics.

 

However, having spent thousands on individual books, my perception of money has been completely distorted...that is why I exercise more restraint when buying books than before. I have opened a credit card account specifically for comics w/the benefit of 1 frequent flyer mile for every $1. I purchase an expensive book that I desire, and then make sure that I pay off the costs of that book with whatever money I make by flipping other books. Sometimes that takes time, other times it can be done relatively quickly. The beauty of it is that all purchases are made on that card and at the end of the day my balance is $0, but I have gained ridiculous amounts of frequent flyer mileage so that my girl and I can travel all over the world! Not to mention I have in my posession the book of my dreams.

 

I NEVER however pay for books through my paycheck...once you do that, unless you have amazing control or inexpensive taste, you can really get into trouble.

 

[OldGuy]

Please tell me you save at least 10% of your income before buying comics.

 

I would bet that there are people on this board that spend every extra penny they can scrape together on comics, in lieu of buying other material possessions, saving for retirement, travelling, etc.,.

 

Personally I have two "kinds" of money. I have "living, saving and investing" and I have my "allowance". And never the two shall mix. When I want to buy a comic(s) if I have the cash (allowance) then I buy it. If I don't have the cash then I have to wait. This isn't saying I don't have the cash, it just means that I've already spent my "allowance" and won't be able to buy the comic(s) until I get my next "allowance".

 

I'm happy to say that I have never "paid" for a comic with credit and I've never broken my rule of "If I don't have the cash I don't get the comic." Ever. The only debt I have is on my house and one of my cars.

 

I love comics, but there are other things I refuse to give up for comics. Comics are the last things on my list of "creature comforts". Two weeks ago I put bigger headers on my Jeep with my "allowance". Next week I'll be buying some comics.

[joe_collector]

I have opened a credit card account specifically for comics w/the benefit of 1 frequent flyer mile for every $1. I purchase an expensive book that I desire, and then make sure that I pay off the costs of that book with whatever money I make by flipping other books. Sometimes that takes time, other times it can be done relatively quickly.

 

We are definitely on the same wave length, and that's exactly what I do. My "comic book" CC is so limited ($500 CAD!! - had to get that done custom ), that I usually have to pay it off immediately after buying a comic so I can pay for more.

 

No joke, that actually happened in a transaction with a fellow board member, but it definitely keeps me grounded and enforces an effective $500 per book/transaction limit, unless I choose to go the MO route.

[FlyingDonut]

I have opened a credit card account specifically for comics w/the benefit of 1 frequent flyer mile for every $1. I purchase an expensive book that I desire, and then make sure that I pay off the costs of that book with whatever money I make by flipping other books. Sometimes that takes time, other times it can be done relatively quickly.

 

We are definitely on the same wave length, and that's exactly what I do. My "comic book" CC is so limited ($500 CAD!! - had to get that done custom ), that I usually have to pay it off immediately after buying a comic so I can pay for more.

 

No joke, that actually happened in a transaction with a fellow board member, but it definitely keeps me grounded and enforces an effective $500 per book/transaction limit, unless I choose to go the MO route.

 

The Flying Donut Trading Company has its own credit card, checking account and bank line. Whatever I buy comes out of that, and it self funds, so I don't have problems.

[dam60]

OK here's the real question.

 

If every comic book you ever bought, you either had to sell for the same amount or less. would you spend more, the same or less on comics?

 

I would definitely buy the same, although if prices of AF 15 did drop to $20, I would be buying a lot more books!

 

I like to collect comics and if the value of them went down, I would be able to buy more.

 

DAM

[BronzeBruce13]

I have opened a credit card account specifically for comics w/the benefit of 1 frequent flyer mile for every $1. I purchase an expensive book that I desire, and then make sure that I pay off the costs of that book with whatever money I make by flipping other books. Sometimes that takes time, other times it can be done relatively quickly.

 

We are definitely on the same wave length, and that's exactly what I do. My "comic book" CC is so limited ($500 CAD!! - had to get that done custom ), that I usually have to pay it off immediately after buying a comic so I can pay for more.

 

No joke, that actually happened in a transaction with a fellow board member, but it definitely keeps me grounded and enforces an effective $500 per book/transaction limit, unless I choose to go the MO route.

 

I've been using Citibank 1% cash back cards. I'm on my 3rd because they stop paying out after $30,000 is charged inexplicably?? and there is no better option I can find, or Citibank offers. You'd figure they'd be thrilled I was charging so much. I'm sure they would prefer to make some interest (but F them) but still they are making good money on me. When I reach the 1% cash back limit... I have to sign up for another freakin' card... hassle!, but worth the $300 bonus per card all in all. I recently got a Discover card too... also 1% cash back after you charge $2500. There's no limit on the payouts, but they are very slow extending you additional credit limit. Citibank gave me $35K in no time after I made a few big payments immediately after receiving the statement. Discover card however, is difficult to work with. I've only managed to get $9K credit with them. PLUS, even after your check has been cashed... your available credit does not reflect it?? They say they wait almost 2 weeks additional before reinstating your credit... What kind of BS is that? That sucks! unless you get your credit limit raised. I paid off my first statement of $7K instantly, check was cashed 5-7 days later and I tried to charge another $5K which I should have been able to...DENIED! I can't wait until I get the limit raised.

 

I wish there was an easy way to get the 1% cash back, but I have to jump through hoops one way or another.

 

Anyone find a better way/offer???

[garthgantu]

I started to go off the deep end a year and a half ago or so, and killing my Paypal account saved from being the only homeless person in the SF Bay Area with a substantial comic collection

 

You've heard the expression "shoot your TV"? Well, kill your Paypal account and watch the money pile up!

 

That said, I still spend $ on comics. But I look at it as a sort of "allowance" as well... when I was 10 I probably spent $5 a week on comics - if that. Now the prices of comics are 10-20x higher, and I spend 10x more, in many instances. I'm okay with that.

 

As for saving for things like kid's college tuition, I'm doing some of that, but am also expecting that when she's ready for college in ~10 years, I'll sell off some of the collection if necessary. Hopefully, she'll either take after her mom in this regard and get a scholarship, or take after her dad and drop out before the bills get too hefty

[joe_collector]

As for saving for things like kid's college tuition, I'm doing some of that, but am also expecting that when she's ready for college in ~10 years, I'll sell off some of the collection if necessary

 

I seem to recall a guy posting on here about a similar plan his father had concerning Silver Dollars (that worked out well ), and how his own kids would likely curse his name for putting so much money into those "worthless comics".

 

Kinda Zen doncha think?