Stop the Presses: Mile High 3 Collection for Chuck??

[Aman619]

I'm on Chucks Mile High mailing list and today received the following report of an incredible high grade collection that Chuck just negotiated to "buy". He beat out other top dealers. And he managed to do it for "no money down!"---he will sell them on consignment as "partners."

 

But the best part is that Chuck dramatically relates how he perilously DROVE the books from San Diego to Denver HIMSELF, ALONE, in a broken down rental truck, in PERSONAL DANGER and RISK of HARM from colliding with trucks, and even sleeping in the truck at a motel on the way!!

 

BUT HE MADE IT SAFELY!!! whew!

He also talks about how he plans to grade all these books. He needed the okay from his staff to purchase this deal since they will have to graded more carefully than usual. (no comment).

 

enjoy! (its not on the website so Ive had to copy it here...

 

 

All DC's 40% Off! Huge GA Collection!

 

Howdy!

 

I wanted to send out this newsletter yesterday afternoon, but there was simply no way. I was so exhausted from my weekend that I could barely stay awake enough to drive home from the office. I'm not complaining, however, as this weekend I completed the negotiations for the best comics collection that I have acquired in over 18 years!

 

To start at the beginning, I mentioned in one of my newsletters about three weeks ago that I was going to look at a collection in Southern California, but that I didn't think that I was going to be able to buy it. The reason I was so dubious about acquiring this collection is that it was simply too big for us to afford, and because I had already been told that several nationally recognized Golden Age dealers, with the ability to borrow very large sums of money, had already made substantial cash offers. When I say "substantial" cash offers, I mean well into six figures, just for the down payment. In addition, these dealers were offering $1 million plus in guarantees above and beyond the down payment. This is a big, big deal by comic book standards.

 

Given that we're the largest comics dealer in the country, you would think that I would be able to top any offer. Nope, no way. First of all, I've already purchased over 1 million comics this year, for well over $300,000.00. As a bona-fide comics addict, I buy additional collections just as fast as I can raise cash. The only difference between me and the average comics collector is that I'm constantly stretching our budget to the limit to buy truckloads of comics, instead of just individual issues. Aside from buying enormous masses of comics this year, I have also been on a very determined path to pay off the huge costs of creating our website. I began this debt -reduction program at the beginning of last year, and I am now 75% of the way to my goal. Despite my eagerness to buy this great deal, there was simply no way that I was going to go right back into debt to make the purchase come to fruition. That having been said, my trip to San Diego seemed like a genuine waste of time. The seller was someone whom I liked, however, from our earlier meetings at various conventions, so after several e-mails from him, I finally agreed to make a courtesy call.

 

When I finally took a look at the comics, I was totally blown away. The seller had approximately 8,500 key issues selected out from his total accumulation of over 400,000 books. I estimate that those 8,500 issues will price out at about $4 million! I've owned a lot of great comics in my day, including almost every Golden Age comic book ever printed, but it has been 25 years since I saw so many wonderful issues in one spot. Making this collection even more noteworthy, the seller had hand-selected each issue, going to convention after convention since 1987, seeking out just the highest condition copies he could find of key Golden Age, Silver Age, and Bronze Age books. Taking the wonderment of this collection even further, despite having all these wonderful high grade books for many years, the seller had never had these books professionally graded. It will be very, very interesting to see how many of these books come in above 9.0 when we submit them to CGC...

 

In addition to the 8,500 key books, there are at least 40,000 other books that are in such nice condition that we will be separating them out, and providing each book with a certificate of authenticity as having come from this monumental collection. Don't expect a large number of these books to be available any time soon, however, as it is going to take us quite some time to sort out the 40,000 best books from the 400,000. We will then have to individually grade each one, and create the certificate of authenticity. Clearly, this is a project that is going to keep us busy for at least the next six months, if not longer. As the best of the books become available, however, I will be putting links to the new listings in my newsletters, and on the website. This is going to be great fun!

 

The question I'm sure you're asking is "How did Chuck pull this deal off?" Well, the seller is the one who came up with the idea. He has been a long-time fan of mine, and an avid reader of this newsletter. He knew that Mile High Comics reaches more hard core comics collectors around the world than any other dealer, probably by a factor of at least ten times. With that thought in mind, what he offered me was a long-term joint venture, in which he would provide his books to us, we would market them over a period of many years, and we would then split the earnings. No money down! This was a deal I simply couldn't ignore. There were some definite drawbacks, such as the fact that the time we would spend processing his books would mean books that we purchased in other deals wouldn't get processed as quickly, but upon serious contemplation that seemed like a small offset. The overall basis of the seller's deal was one that it seemed to me would work well for both parties.

 

While the basics of the deal were worked out during that first meeting, I needed to run the concept by the Mile High team. While I am pretty confident in my own judgment, I feel a huge sense of responsibility to Lynne, Pam, Ron, William, Will, Sean, Rich, Nanette, and all the other great people who operate Mile High Comics on a day-to-day basis. There was no way that I was going to commit us into such an enormous long-term undertaking without their complete approval. We had a meeting the day after my return, and hashed out the pro's and con's for a couple of hours. In the end, there was complete unanimity that this was a deal that we simply couldn't turn down, even if it was going to cause a lot of extra work, and disrupt our existing operations to some degree.

 

Once I got the Mile High team's approval, I was ready to fly back to San Diego to try and close the deal. Three days before I was supposed to go, however, Tanith had her accident, and subsequent emergency brain surgery. While she presently seems to be steadily recovering, as most of you already know, it was very touch-and-go for a while. I was ready to delay the Golden Age deal indefinitely in order to be with Tanith, but I had also talked over the deal with all the members of my family before her accident, so Tanith knew that acquiring this collection was very, very important. So despite being gravely ill, she was insistent that I go ahead and fly to San Diego, only three days after her operation. Sometimes things just don't work out, however, as when I got to the airport, I discovered I had no photo ID with me. I had purchased used cars for Tanith and Elsbeth at the local auto auction on the Saturday before Tanith's accident, and the dimbulb clerk at the auto auction had forgotten to return my driver's license after I paid my bill! As I frantically drove home to pick up my passport (another form of government-issued photo ID...), I got the call on my cell phone that Tanith had unexpectedly developed a fever of 102 degrees. I immediately canceled my trip, and I spent that evening sitting by Tanith's side, as she moaned softly in her sleep. Blessedly, her fever broke in the night, and she was much better by morning. I was very relieved...

 

While the seller had seemed quite understanding when I called to delay my trip, I was still worried. I knew darn good and well that if word got out to the other comics dealers bidding on the collection that I was involved, that the pressure on the seller to sell for an immediate cash payout would become intense. To the best of my knowledge that information did not get out, but one dealer did increase his down payment offer by $100,000.00 during the week's delay caused by Tanith's operation. All I could do was to advise the seller that if he wanted to take any other deal he'd been offered, that he should go ahead. Quite honestly, cash in hand is almost always better than a deal that involves only a smile, a handshake, and a promise to pay later...

 

In the end, the seller totally stood by his original deal. I flew out last Thursday evening, we sorted out details on Friday, and I wrote up a simple contract on my hotel computer on Friday night. We amended it slightly on Saturday morning, and had a finished contract by Saturday afternoon. I then went to lunch with the seller and his son, where he took the time to pray (the seller and his family are very dedicated Christians...) for the Lord's guidance. He then said a prayer for the success of our venture, and had his son (who is in training to be a preacher) also say a prayer. While I am not particularly devout, I felt incredibly honored by this display of faith in me as a person, and in my abilities. The seller could not have manifested any single other type of action that could have inspired me to work harder to try to live up to his, and God's, faith in me. I suddenly felt this enormous weight of personal responsibility. It wasn't an uncomfortable feeling, but I sure felt it settle into place on my shoulders. It is still there now. I am totally dedicated to prove to this man that he made the right decision in choosing me as a working partner in selling his wonderful comics.

 

Once we both signed the contract, it was time to pick up the rental truck I had ordered from U-Haul. I had to have a rental truck, as there was no way to ship $4 million dollars in rare comics via any kind of ordinary truck line. No common carrier would take on that kind of risk. The only way for me to get those great comics back to Colorado was to drive them there myself. Normally this would not have been such a big deal, but when I went to get trip insurance, I discovered that it was totally unavailable! The insurance company we ordinarily use was willing to sell us a two-day policy for $15,000.00 (!), but only if we provided them a detailed inventory of every single issue of the 80,000 books I was taking in the 24-foot truck, complete with grades! Since none of these books had yet to be graded, that was out of the question. The only way for me to get these books home was to drive them there by myself, completely uninsured. While the seller understood the need for this incredible risk, he was relieved when I offered him a personal guarantee for the entire $2 million of wholesale value. If anything happened to his comics on the way to Colorado, I was personally out the entire $2 million.

 

Frankly, this trip this past weekend was the single most dangerous thing I have ever done in my life. Not only was I putting a substantial portion of my life's earnings at risk, but I also was in considerable danger from those who might be aware that I was driving, alone, across one of the loneliest stretches of the American West with at least $2 million in untraceable liquid assets. It didn't help matters one bit when the truck I rented (for $1600.00!) turned out to be a complete clunker, with no air conditioning, and hardly any power. I could have waited until the next day for a better truck, but I made the decision that my safety was enhanced by every mile I could put between myself and San Diego before the word got out that I was on the road by myself. I was already regretting that decision within an hour of leaving, however, when the truck proved incapable of taking the hills out of San Diego at more than 30 miles per hour (50 KM/H). When it lost all power entirely in one particularly busy stretch of road, resulting in me nearly being crashed into by an enormous tractor-trailer truck going at least 70 MPH, I was convinced that I was doomed.

 

In the end, I slowly gimped my way home, crossing the Mojave Desert in the middle of the night, arriving in Nevada at 1 AM. I then stopped at a hotel/casino on the Interstate that I knew catered to truckers, and rented a room. I didn't sleep in it, however, as I was completely terrified that someone would steal the entire truck (I know some friends who have had that happen to them...). I grabbed a pillow from the room, and went down to sleep in the cab of the truck. In this particular lot that was very safe, as the casino is smart enough to provide 24-hour security guards for the trucks of their clients. After four fitful hours of sleep, I awoke at 5 AM, took a quick shower, and headed for Utah. That day proved to be a nightmare of constant near accidents, as my little truck just couldn't make the hills at any speed. A trip that would normally have taken me about 20 hours stretched out to nearly 30. The last few miles were the worst, as I had to cross Vail Pass (10,640 feet, or about 3,200 meters) and Loveland Pass (11,000+ feet) just before I hit the final stretch of road to my farm. I made it up Loveland Pass (to the tunnels) at only 18 miles per hour. I honestly had my doubts at times that my little truck was going to make it, as the engine seemed so dangerously close to dying on the way up. Then, on the way down the Eastern slope of that steep mountainside, I could smell my brakes burning, despite taking the entire incline in second gear. Suffice it to say, I was a very, very happy camper when I pulled my little truck into the driveway at my farm at 1 AM, on Monday morning. (click on image for larger view)

 

After six hours of desperately needed sleep, I drove the truck to our warehouse. The Mile High team was waiting for me there, with a specially designed secure room ready to hold the collection. Blessedly, the minute the books entered that room, they were insured by a special rider we put on our overall commercial insurance policy. For complete security purposes, I limited access to these great books to only three people besides myself. While that kept the books secure, it also meant that it took us over seven hours to get all the books sorted out, and into the safe room. By the time we were finished, I was ready to fall down. Sean drove me out to the airport to retrieve my car from long-term parking, and I then had just enough energy left to drive home. My daughter Aleta then took me out to dinner, and afterwards I finally crashed into bed.

 

This morning I can barely believe the magnitude of what I have accomplished. This deal is so very, very wonderful that it completely blows my mind. As we were unloading, I had Lynne grab the digital camera, and shoot the picture below. In the picture we're holding high-grade copies of SHOWCASE #1, #2, #3, & #4. Those were just a handful of books from one single box, that I grabbed randomly. I don't know if I've ever owned even a single copy of SHOWCASE #1-#3 in my entire 33-year career, much less two copies of each in high grade! The SHOWCASE #4 looks to be the best copy I've ever had of the book that most people readily acknowledge was the first comic of the Silver Age. Going through this collection is going to be fun, fun, fun! (click on image for larger view)

 

Later this week, I'll provide you with a very detailed biography of the seller of this great collection. He is a wonderful man who deserves special recognition for the astounding collection of comics that he built over 16 years. He is supposed to be sending me photos of himself in the present, and from his childhood, which I think will make for a really cool addition to a wonderful life story. Stay tuned!

 

One factor I do need to mention about this wonderful new collection is that my agreement with the seller precludes me from discounting any of the books without his specific permission. The seller currently earns a substantial income, and does not need short term cash. As a result, he wants us to slowly liquidate his collection for him, preferably over many years. We are soon going to have some incredibly rare issues listed on our website, but I'm afraid that discounting those cool books is out of the question.

 

While I can't discount the books from the seller's collection, nothing precludes me from discounting the ten million books we already own. That's why I'm immediately cutting the prices on all of our DC back issues to 40% off. This massive discount sale will run in conjunction with the 40% off sale that I put into effect on all of our Marvel comics last Friday. Frankly, I'd just as soon not have such steep sales right now, but I'm going to need quite a bit of extra cash flow to pay for all the costs of processing this new collection. Since I can't discount the seller's books, the only option open to me is for me to discount the comics we already own. Be forewarned, however, that while I'm probably going to be having some very aggressive sales from now until the end of the month, the 3rd quarter (July-September) may see a reduction in the number of sales we run. I have this strong suspicion that once the word gets out about how many one-of-kind rare books are in this new collection, we're going to be more than busy enough filling the resulting rush in orders. In the meantime, however, you have a window of opportunity in which to order both Marvel and DC back issues at 40% off our usual list prices, with free shipping for all domestic orders over $30, and all International orders over $75. Enjoy!

 

That's it for another day. I am still planning to take a couple of days off at the end of the week, to go to the June 13th Feast Day at Santa Clara Pueblo. After my insane trip across the desert, I figure I deserve a couple of days off...

 

Happy collecting!

 

 

 

 

Chuck Rozanski,

President - Mile High Comics, Inc.

[murph0]

YES!! More VF's disguised as NM's!!

 

Brian

[Smokinghawk]

Can it really be true? He didn't write "Gleep!" even once!

 

[Crowzilla]

I was going to post something on this, as I saw the e-mail eearlier in the day, but I have been to dumbfounded about where to even start.

 

1) 8,500 "Key" issues?! I didn't even know that there were 8,500 key issues in existence. We must be talking multiple copies of every key book from Action #1 to X-men #266.

 

2) He's never owned a single copy of Showcase #s 1-3 in his entire career?!

This from the guy who is supposed to be one of the top dealers? No wonder the #4 looks to be the best copy he's ever had - it might only be the 2nd one he's ever owned. I wonder why Mile High used to pirce early copies of Showcase in their catalog if they've never owned any?

 

3) If Chuck thinks it's a $4 million dollar deal and is splitting it 50-50, why wouldn't the owner go ahead and take the several hundred thousand up front with the guaranteed "$1 million plus" now instead of waiting who knows how many years for a tiny percentage more? The value of time and money can not be understated.

 

4) Poor Chuck. Grading and Pricing (even though many are going to be sent to CGC) all these books so he can get his half of the $4 million will disrupt his normal operations. Plus he's going to be broke processing them all to earn his half of the $4 million. Good thing he has a specially designed room to store them in at his office (there must be a lot of thieves on the Mile High staff).

 

5) Brave Chuck. There's no way to ship $4 million in comics by an ordinary truck line. (How did he get that $4 million+ MH2 collection back to CO again)?

So He had to do the bravest thing any man would ever dare to do: Drive from San Diego to Denver. Oh the horrors. Much more dangerous then the time he dealt with the drug addict and the teamsters in rescuing the MH2 collection. Good thing the Russian mafia didn't find out about his driving around with $2 million in "untraceable liquid assets". which brings up...

 

6) Untraceable Liquid Assets? You've got to be kidding me. 8,500 books is at least 30 long boxes full of books. Certainly not untraceable and hardly liquid (unless you're willing to take $20,000 for them). Anyone who tried to sell them would end up calling the same dealers who were called in the first time, and if the dealers were crooked enough to buy them, the price would be pennies on that $2 million because they would be so traceable. Comics are one of the least liquid assets ever (something I will do a new post about soon).

 

7) No discount Chuck. We all love to take advantage of Chuck's truly generous pricing on Gold and Silver Age Comics (especially the CGC graded issues). So it only remains to be seen whether these new books will fall in line with Chuck's existing price structure (and turn a $4 million collection into $10 million in pricing), or if these books will actually be priced somewhat around market value.

 

8) Like JC, I and many others have said: This does go to show that there are tons of books out there that have yet to be graded.

 

[supapimp]

 

8) Like JC, I and many others have said: This does go to show that there are tons of books out there that have yet to be graded.

ahem sean! what am i?....... "CHOP SUEY!"

[greggy]

 

8) Like JC, I and many others have said: This does go to show that there are tons of books out there that have yet to be graded.

ahem sean! what am i?....... "CHOP SUEY!"

 

Stop pandering to the white man. There's no such thing as chop suey except to them!

[supapimp]

 

8) Like JC, I and many others have said: This does go to show that there are tons of books out there that have yet to be graded.

ahem sean! what am i?....... "CHOP SUEY!"

 

Stop pandering to the white man. There's no such thing as chop suey except to them!

 

kinda like sweet and sour pork

[Crowzilla]

8) Like JC, I and many others (most notably Supapimp, whose wisdom is well beyond what his years would indicate) have said: This does go to show that there are tons of books out there that have yet to be graded.

 

How's that?

 

[BachelorOfComix]

8) Like JC, I and many others (most notably Supapimp, whose wisdom is well beyond what his years would indicate) have said: This does go to show that there are tons of books out there that have yet to be graded.

 

How's that?

Zilla, I believe I made that statement once too.

[murph0]

You mean you guys have said that Chuck would find another huge collection of F/VF books that he can call NM? Man you guys ARE good!

 

Brian

[BachelorOfComix]

You mean you guys have said that Chuck would find another huge collection of F/VF books that he can call NM? Man you guys ARE good!

 

Brian

 

[supapimp]

8) Like JC, I and many others (most notably Supapimp, whose wisdom is well beyond what his years would indicate) have said: This does go to show that there are tons of books out there that have yet to be graded.

 

How's that?

 

ahhh....much better, but im going to give credit to our mutual old buddy keith contarino AKA doc_sampson on here, he told me about this back in 2001.

[murph0]

What is that smiley supposed to be?

 

Brian

[BachelorOfComix]

What is that smiley supposed to be?

 

Brian

[Crowzilla]

8) Like JC, I and many others (most notably Supapimp, whose wisdom is well beyond what his years would indicate and BachelorOfComix who is know not only for his sage like comic advice, but usually has a plethora of amazing avatars for one to enjoy as well) have said: This does go to show that there are tons of books out there that have yet to be graded.

 

Ok. that's it. Nomore revisions.

Everyone else falls into the "many others" catagory.

 

[murph0]

[BachelorOfComix]

8) Like JC, I and many others (most notably Supapimp, whose wisdom is well beyond what his years would indicate and BachelorOfComix who is know not only for his sage like comic advice, but usually has a plethora of amazing avatars for one to enjoy as well) have said: This does go to show that there are tons of books out there that have yet to be graded.

 

Ok. that's it. Nomore revisions.

Everyone else falls into the "many others" catagory.

 

[BachelorOfComix]

 

[murph0]

[BachelorOfComix]

murph's lunch===>