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What's the Action #42 CGC 8.5 on CL worth?

Started by nearmint,

62 posts in this topic

nearmint

nearmint

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This book is just so tough to calculate value on since there are no recorded sales above 6.5.

 

So is it possible to widen the range? On scarce books exact comparables rarely exist, so would it be helpful to check the prices for Actions around this grade from #36-#48 (removing issues from that run that aren't comparble due to war covers or important 1st appearances)? Would that provide a set of pricing data that would at least give some idea of the appropriate market pricing for this book? While the comps you'd pull together wouldn't be exact, at least they might rhyme.

 

Looking at Action 40-49...

Once you eliminate the war covers, the first appearances, and books with no sales data close to an 8.5, you're left with two books, #45 & #46. Turns out I paid $2600 for the #45, but remember, it's half a grade higher, a pedigree, and the solo highest graded copy at 9.0. The Action #46, also a 9.0 and solo highest graded copy, last sold for $2358.

 

So if the #42 is half a grade lower than those two, AND shares the top spot with another copy, shouldn't it be valued less than the #45 & #46?

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Silver Surfer

Silver Surfer

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Just a bit OT but what is the Gerber rating for Action's in the #30-40, #40-50 range? 6?

 

You guys have already gotten me started on the uselessness of the Overstreet guide, don't get me started on the Gerbers! wink.gif

 

Ok, fine, one quick rant:

There are very pretty covers in the Gerbers, and every one of us should own them and enjoy them. That said, ignore the scarcity ratings. Pre-Internet they were very useful, but nowadays every one of us has all the tools we need to figure out our own scarcity ratings, and in the process of doing so for your area of expertise, you'll discover that Gerber's ratings are frequently way off (in both directions).

 

Whew, I feel better now. devil.gif

 

I agree with your comments as the internet has helped flush out those so called "rare" books. Suspense #3, Marvel Mystery Comics #92, etc come to mind as not really being as rare as Gerber might have thought. However, Gerber is a good starting point for stuff that is rated 7 or higher.

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nearmint

nearmint

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Jeff, I'd at least compare it to the 8.0 Metro has. That one may be a better deal.

 

I have this aversion to buying raw, but I'm trying to get past it. I am looking at all of Metro's copies of this book(they have 5!). One of their 7.0s is pretty nice, too.

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CentaurMan

CentaurMan

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This book is just so tough to calculate value on since there are no recorded sales above 6.5.

 

So is it possible to widen the range? On scarce books exact comparables rarely exist, so would it be helpful to check the prices for Actions around this grade from #36-#48 (removing issues from that run that aren't comparble due to war covers or important 1st appearances)? Would that provide a set of pricing data that would at least give some idea of the appropriate market pricing for this book? While the comps you'd pull together wouldn't be exact, at least they might rhyme.

 

Looking at Action 40-49...

Once you eliminate the war covers, the first appearances, and books with no sales data close to an 8.5, you're left with two books, #45 & #46. Turns out I paid $2600 for the #45, but remember, it's half a grade higher, a pedigree, and the solo highest graded copy at 9.0. The Action #46, also a 9.0 and solo highest graded copy, last sold for $2358.

 

So if the #42 is half a grade lower than those two, AND shares the top spot with another copy, shouldn't it be valued less than the #45 & #46?

 

Bingo. That's good market analysis. Take this data and combine it with Metro's inventory/pricing and you'll get a good sense of what a fair price is for this #42. And it wasn't even necessary to consult Overstreet. Nice job.

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comicdonna

comicdonna

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I feel, that this book is worth 1.75x guide. This breaks down as follows:

 

1.25x guide because #1 through #64 is a highly sought after run.

.25x guide because it's a key.

.25x guide because it's the highest CGC graded.

 

So, using Jeff's $1500 as guide,

I place a value of $2650 on this book.

 

I appreciate the logic behind this price benchmark, but I really dislike using Guide as an input. What happens if guide prices go up 25% next year to appropriately capture market pricing? Should you still use 1.25x the new guide? Shouldn't supply/demand driven prices between educated buyers & sellers be derived more or less independently from Guide?

 

Without a real transparent logic behind guide pricing, I'd rather think in terms of absolutes. If I see a Detective Comics between #11-#17 for sale, I figure it's worth ~$800 in unrestored Good condition, and mentally scale my expectations accordingly (with VG = 1.85x Good, FN = 3.75x Good, and VF = 10x-10.5x Good). I've gradually increased that $800 figure up from ~$650 in 2002-03, as market prices have shifted.

 

But if you asked me what Good guide is for those issues, I'd have no idea. $400? $1000? To me, it's irrelevant. I haven't bought a guide in more than 5 years.

 

(BTW, I'm not picking on your post. I like the logical system, and always appreciate people's attempts to apply logic to this type of thing. I'm just using it as a launching point for a discussion about market-based pricing).

Well, if guide prices go up 25% next year (which they won't) I might evaluate my above method. And, keep in mind, this is the figure I came up with on this particular book. I think, that the OS guide is a handy reference. Believe me, I used to own 100's of GA books, and I know, that the guide doesn't mean squat on many other comics. The Early Action run, does seem to bounce above and below the guide pretty close.

BTW I do respect your method as well. Everyone has their own method. hi.gif

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CentaurMan

CentaurMan

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[<snip> and mentally scale my expectations accordingly (with VG = 1.85x Good, FN = 3.75x Good, and VF = 10x-10.5x Good).

 

My ratios are less aggressive than those - in my world, lower grade 50's books, it's VG = 1.70 x Good and FN = 3.00 x Good. It's uncanny how that 3 times ratio works out on eBay. VFs I don't touch so I don't know.

 

On pre-Batman Detectives I think my ratios are about right, but on some less demanded but similarly scarce books (like Centaurs) I tend to use ratios more like yours. That's why it's important to develop areas of expertise and focus on them, to get a good feel for the markets. I never understand how someone like esquire or Nick Cage (not picking on them personally, just using them as examples; there are plenty of examples) can show up and throw money at a broad range of books and obtain good value, without understanding the market dynamic.

 

It's why experienced dealers like Metro can do very well buying and selling. None of us has the breadth of market knowledge that Metro has, but within our small specialties we very likely do. Don't fight your highly tuned instincts by relying on the Guide.

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nearmint

nearmint

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Yeah, might as well sell that piece of garbage to me. takeit.gif

 

27_laughing.gif yeah, hey does anyone know what the PQ on the 9.0 copy of Action #46 is ?? just curious.

 

Yes, I hear it's "WHITEST PAGES EVER" tongue.gif

 

Christo_pull_hair.giffrustrated.gif

 

Doesn't really matter anyway. The Church copy is still raw, and definitely beats the 9.0. I suspect the same is true of the #42.

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thedude

thedude

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Yeah, might as well sell that piece of garbage to me. takeit.gif

 

27_laughing.gif yeah, hey does anyone know what the PQ on the 9.0 copy of Action #46 is ?? just curious.

 

Yes, I hear it's "WHITEST PAGES EVER" tongue.gif

 

Christo_pull_hair.giffrustrated.gif

 

Doesn't really matter anyway. The Church copy is still raw, and definitelyl beats the 9.0. I suspect the same is true of the #42.

 

true..

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