Not Another Market Crash Thread....

[joe_collector]

I'm serious, I do not want to turn this into yet another Market Crash thread, but I do want to see if anyone else on here has had similar experiences.

 

I was doing some weekend work and a couple of the techies approached me with the infamous line:

 

"So, I hear you're an EBay expert"

 

Now I've been known to bolt from the room upon hearing those words, but I had a full cup of coffee and some time to burn...

 

Both of these guys used to be collectors, blew off their collections on the early 90's, and had been lured back in with the CGC hype. They went through a list of comics they'd bought (mostly late-Silver/early/mid-Bronze X-Men and ASM - not bad books) and wanting my help in "divesting" these books from their "portfolio" (translation: this stuff is taking up space and I want my money back!).

 

It continually amazes me that people will buy an expensive "investment collectible" and not give a thought to the backend of actually selling it.

 

To be polite, let's just say these two fine fellows bought at the apex, and are hip-deep in discounted books at current market prices. They offered to sell them to me at cost (Hah!), and to get me to sell them on EBay (again, at cost) with a 10% commission, and to both I replied "no thanks". If I wanted to continually list comics at 2-3X current rates (and hoping for a drunk bidder), I've got a few books of my own I could profit more from.

 

Now two guys with a few thousand tied up in CGC comics doesn't a market make, but I'm very interested in seeing if others on here have been similarly approached.

[jonnydouble]

Sure it's dropped from it's hight of about a year or so ago,...but what market doesn't peak??...It doesn't mean that it's going to crash....the best thing CGC has done for this market has given it a cornerstone of credibility from here I believe prices will steadily increase ...maybe not at a drastic hike like we saw before , but still an increase.

 

And another thing .....the last couple of years have smoked some really fine books out of private collections because opportunists felt they could make some primo money on them ....You know what...I didn't mind paying a little more for those books...cause they weren't around before the spike and in five years they will be even sweeter.

 

Jonny D.

[BronzeBruce13]

No too often... but I do run into people who are still buying (and some that are just selling off too) that want me to buy an item OR take it in a trade valued "at cost" and hoping I'm not aware the book is worth much less than their price-paid. It stands out, because they are so focused on making a deal for those overpriced books as not to take the big loss. Most hold there ground though if you could use the book, but point out current values. I have not run into many "desperate to sell" right now types. More than a few have asked me to sell the books for them, but I decline as you did, if their asking prices are not realistic.

 

I think many of those type-buyers...bought and really did not pay attention afterwards... not a wise way to invest if that was their objective. Apex buyers are certainly a decent sized segment, but as you said do not represent the average buyer... at least in terms of across the board purchases. Every one has a few books they'd like to forget

[drbanner]

I was doing some weekend work and a couple of the techies approached me...

 

That's interesting Joe, now are these family members too? And remind us again just what they thought of the Hulk trailer?

 

"...late-Silver/early/mid-Bronze X-Men and ASM..."

 

Hmmm...those sound like the types of books that many on this board would be interested in. And you know, you could actually do something productive and get a list of their books and post it here for us, or introduce them to the boards and let them post their lists themselves so you can be divested from the situation altogether. They have books they want to sell, everyone here loves late-Silver/early-mid bronze Spideys and X-men, so this could be a mutually beneficial situation for all involved - show us the lists!

[joe_collector]

I have not run into many "desperate to sell" right now types. More than a few have asked me to sell the books for them, but I decline as you did, if their asking prices are not realistic.

 

Thanks for the reply Bruce, and these guys are certainly not desperate to sell by any means, but did have that "get drunk and wake up with a ... " or "what was I thinking?" look in their eyes concerning their CGC purchases...

 

I just think they'd kiss the ground if someone would offer to buy their books at cost, and let them forget the whole ordeal. Just like you said, people who bought in impulse, didn't follow the market, and are certain to get reamed.

[joe_collector]

They have books they want to sell, everyone here loves late-Silver/early-mid bronze Spideys and X-men, so this could be a mutually beneficial situation for all involved - show us the lists!

 

Okay, you're telling me you'd pay $225 for a CGC 9.6 X-Men 137? If so, please send me a Paypal PM and I WILL hook you up. GUARANTEED.

 

If you want any other book, please consult EBay and multiple by at least 2X of what the going rate is. Mostly 8.5-9.0 Silver, 9.2 early Bronze and 9.4-9.6 late Bronze/Modern.

 

Heck, I'll even do you a favor and sell you some of my books for only 1.5X what the current market rate is.

[drbanner]

"$225 for a CGC 9.6 X-Men 137"

 

Is this on their list? I'm not talking about your Byrne X-men, I want to see the "...late-Silver/early-mid bronze Spideys and X-men..." that the "techies" you work with are trying to sell. Please post those lists, b/c I'm sure I'm not the only one that would like to see them.

 

Thanks...

[thecomicsheet]

I recall a story someone told about right before the great stock market crash in 1929. The guy said that when the guy shining his shoes started asking for hot stock tips he knew it was time to get out. Talk about good timing!

 

On another note, the CGC market went through a 20 to 30 percent across the board drop last Summer and early Fall. Since then prices of low-priced books (< $100) have held fairly steady while mid-priced ($250 - $500) books have staged a sustained rally climbing back almost to last years levels.

 

Has anyone else noticed that it is hard to find a true bargain these days? Last year I would troll eBay looking for some bargains (yes, mostly to buy and flip). Any given week I might find a hundred interesting auctions (meaning bargains) and I would actually win a couple of these auctions at some good prices. Lately I've noticed that I'm only finding 30 or 40 interesting auctions and I rarely win any of them. I'm mainly interested in Marvels from the 70's so all the movie hype the last 6 months has had an effect on my market niche. But still it is interesting .

[drbanner]

the CGC market went through a 20 to 30 percent across the board drop last Summer and early Fall. Since then prices of low-priced books (< $100) have held fairly steady while mid-priced ($250 - $500) books have staged a sustained rally climbing back almost to last years levels.

 

Yep, and as I posted in another thread, the market graphs on your website sure provide a much better market analysis tool than general/broad qualitative discussions like "the market is crashing".

 

This makes it even more imperative that Joe hook us up with the sellers before prices go up any more!! C'mon Joe, help us out here!!

[joe_collector]

Is this on their list? I'm not talking about your Byrne X-men, I want to see the "...late-Silver/early-mid bronze Spideys and X-men..." that the "techies" you work with are trying to sell. Please post those lists, b/c I'm sure I'm not the only one that would like to see them.

 

You seem to making two rather obvious points here:

 

1) This never happened. Sorry banner, but I'm an extremely quick, witty, social person, and one of those rare "company problem solvers/font of knowledge" types who can amaze the rubes with his feats of intellect. That has a definite downside, which means I get a lot of business and non-business requests for help and info.

 

I am sorry of this concept is alien to you, but some people got it, and some don't. That's life.

 

2) That these guys are desperate to sell. I received two requests, one to buy the books at cost, and the other to sell the books at cost. These two guys are by no means destitute, and after I said no thanks, they left. No desperation, no need to sell for 1/2 or 1/3 of what they bought for, just resignation that they made a mistake and will likely need to sit on them for a bit longer.

 

If I had heard of anything remotely near market rates (especially Byrnes) I might have nabbed some just to be polite, but I am not going to pay 2X to 3X EBay rates to be a nice guy.

 

If I posted their sell lists, you would all laugh and call them stupid speculators, gman would spam me with low-ball bids, others would offer market rate and I'd waste a ton of time saying "no thanks". So no, I won't be posting any list or letting you yank my chain into wasting anymore time with this.

[joe_collector]

On another note, the CGC market went through a 20 to 30 percent across the board drop last Summer and early Fall. Since then prices of low-priced books (< $100) have held fairly steady while mid-priced ($250 - $500) books have staged a sustained rally climbing back almost to last years levels.

 

What kind of data is this?

 

I ask because they have some late-Byrne CGC 9.6 X-Mens that were in $200+ range (I remember laughing at the buyers back then - 2001?) and some CGC 8.5 X-Men 50-60's that had me looking up the latest EBay sales. They easily paid 2.5X+ current rates in 2001.

 

Does anyone have CGC trends from Jan 2001 on?

 

e.g.

 

2001 - CGC 9.6 X-Men 137: $225 (or even higher at points)

Pre-Movie 2003 - $50+

Post-Movie 2003: $70-$80

 

Now this is the kind of stuff I'm talking about, not the difference between last summer and now, but early 2001 to now, which is quite a different story.

[drbanner]

If I posted their sell lists, you would all laugh and call them stupid speculators, gman would spam me with low-ball bids, others would offer market rate and I'd waste a ton of time saying "no thanks". So no, I won't be posting any list or letting you yank my chain into wasting anymore time with this.

 

I'm sorry to hear that JC, because I figured that a great place for them to sell CGC-graded books would be on the CGC Comic Book forums...silly me!

 

You're one luck guy CI! I mean, it's simply incredible the number of coincidences you run across in your daily life that you can use to support many of your theories and various controversial positions. And now you've come across two guys that you actually work with that could serve as poster children for what you've been ranting about here for over a year!

 

"Both of these guys used to be collectors...blew off their collections on the early 90's...lured back in with the CGC hype...wanting my help in "divesting" these books from their "portfolio"...bought at the apex...hip-deep in discounted books at current market prices....two guys with a few thousand tied up in CGC comics..."

 

Man, these guys couldn't have been more perfect if you made them up...I guess sometimes FACT really is stranger than FICTION! Or is it?

[joe_collector]

You're one luck guy CI! I mean, it's simply incredible the number of coincidences you run across in your daily life that you can use to support many of your theories and various controversial positions.

 

Just remember one thing banner, I don't go out of my way to post encounters that DON'T support my ideas.

 

Cut me on that if you want, but try not to sink any lower.

[joe_collector]

Oh, and banner, I just wanted to note that Bruce also replied with his experiences (in a mature and intelligent manner):

 

"More than a few have asked me to sell the books for them, but I decline as you did, if their asking prices are not realistic."

 

So why are you not hammering him, calling him a liar or asking him to post his over-priced sell lists?

 

Hmmmmmmmmmmmmmmmmmmmmmmmmmmmm???

[thecomicsheet]

On another note, the CGC market went through a 20 to 30 percent across the board drop last Summer and early Fall. Since then prices of low-priced books (< $100) have held fairly steady while mid-priced ($250 - $500) books have staged a sustained rally climbing back almost to last years levels.

 

....

Does anyone have CGC trends from Jan 2001 on?

 

e.g.

 

2001 - CGC 9.6 X-Men 137: $225 (or even higher at points)

Pre-Movie 2003 - $50+

Post-Movie 2003: $70-$80

 

Now this is the kind of stuff I'm talking about, not the difference between last summer and now, but early 2001 to now, which is quite a different story.

 

Sorry, my data starts with May 1 of 2002. I don't have anything from 2001.

 

$225 for a CGC 9.6 X-Men #137 would be a definite ouch in todays market.

FYI: Volume on CGC 9.6 X-Men's definitely peaked with X-Men #137. On eBay in the last year there have been 100+ auctions for 9.6 #137's. Next closest 9.6 prior to 137 is #118 in 9.6 with 38 auctions.

 

[clobberintime]

It's the end of the world as we know it - and I feel fine! I magine - another crash thread started by our boy Joe. The stuff I track and collect isn't crashing or experiencing much price deviation at all - maybe Joe shouldn't try to apply his seemingly limited experience and knowledge of Bronze books to the entire market? I would love to see this office where Joe works - he sounds like the shnizzit! Joe is the go to guy! Joe the ever cheerful! Joe the peacemaker and problem solver!

[drbanner]

Oh, and banner, I just wanted to note that Bruce also replied with his experiences...why are you not hammering him, calling him a liar or asking him to post his over-priced sell lists?

 

Uh, maybe it's because Bruce is one of the most high-profile collectors of CGC books out there, and has probably had more exposure to CGC books, CGC sales, and CGC collectors in the last week than you've had in your entire lifetime? I don't doubt Bruce's story one bit...

[drbanner]

I would love to see this office where Joe works - he sounds like the shnizzit! Joe is the go to guy! Joe the ever cheerful! Joe the peacemaker and problem solver!

 

I'm tellin' ya, it's almost too good to be true - long live Joe! Three cheers for Joe!

[joe_collector]

I would love to see this office where Joe works - he sounds like the shnizzit! Joe is the go to guy! Joe the ever cheerful! Joe the peacemaker and problem solver!

 

Anytime you want to compare IQs for cash, give me a buzz.

[joe_collector]

Uh, maybe it's because Bruce is one of the most high-profile collectors of CGC books out there, and has probably had more exposure to CGC books, CGC sales, and CGC collectors in the last week than you've had in your entire lifetime? I don't doubt Bruce's story one bit...

 

No doubt. So basically no one in the entire world can own over-priced CGC comics that hasn't contacted Bruce first. If they haven't been in contact with Bruce and only Bruce, then they do not exist.

 

My, that must be an interesting world you live in...