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

[nearmint]

Guide is about $1500. The seller is asking $3750. It shares the top spot with another 8.5 copy. A 6.5 copy sold last November for $560, but that's the highest graded sale on GPA for this book.

 

Any thoughts?

[comicdonna]

I considered doing a post on this book yesterday. The only thought I have, is that it's a great book, that I can't afford.

[nearmint]

I forgot to post a link...

 

Action #42

[comicdonna]

Here's a scan

[Durden08]

Asking price seems pretty high to me. The spine roll & average page quality are a slight downgrade in my book. Although it's tied for the highest graded copy right now, there's a strong possibility that won't last. Metro has a raw 8.5 and looks a little nicer and is priced at $2,000. Granted Metro's book is not guaranteed to come back an 8.5 from CGC.

 

Remembering some fairly recent Heritage auction results on some CGC 8.0 Actions like #30, 35, & 44 it confirms my thoughts that the price seems high on this 42.

 

That being said, in my opinion I think it's about a $2,300 book.

 

I think many sellers list their books on Comiclink at inflated prices to start to see what kind of response they get. It's possible the seller would accept a bid much less than the asking price after some negotiation.

[rjpb]

Actually guide is about $2150 (1st Vigilante - but who REALLY cares). While it may be a top census copy and presents very well, its got cream pages, it's not a pedigree, and it's not a war cover, so $3500 seems a bit ambitious, but I couldn't really say - as HG Actions are not a market I follow. What is the GPA for 8.0-9.0 Actions in general from this era? Seems that info would give one some idea of FMV.

[nearmint]

Actually guide is about $2150 (1st Vigilante - but who REALLY cares). While it may be a top census copy and presents very well, its got cream pages, it's not a pedigree, and it's not a war cover, so $3500 seems a bit ambitious, but I couldn't really say - as HG Actions are not a market I follow. What is the GPA for 8.0-9.0 Actions in general from this era? Seems that info would give one some idea of FMV.

 

I think you're reading OS wrong. This book is an 8.5. OS is $1156 in 8.0, and $1828 in 9.0, so it's about $1500 in 8.5. Looks like you were splitting the values of 9.0 and 9.2.

[rjpb]

Sorry - you're right

[nearmint]

For some added perspective, I purchased the Rockford Action #45 for just under 3K. It's the highest graded copy, and does not share that distinction with another book. Plus, it's a 9.0 rather than an 8.5.

[comicdonna]

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.

[nearmint]

The seller might have seen this thread. I put in a low offer, and he counteroffered at just under 3K, exactly what I said I paid for the Action 45 in my last post.

[Silver Surfer]

The seller might have seen this thread. I put in a low offer, and he counteroffered at just under 3K, exactly what I said I paid for the Action 45 in my last post.

 

Oh well it is a nice book.

[CentaurMan]

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).

[nearmint]

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

[CentaurMan]

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.

[Silver Surfer]

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

[Scrooge]

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

 

Actions:

 

30 - 4

31 - 4

32 - 5

33 - 5

34 - 4

35 - 4

36 - 4

37 - 5

38 - 4

39 - 5

40 - 4

41 - 4

42 - 5

43 - 5

44 - 5

45 - 4

46 - 4

47 - 4

48 - 5

49 - 4

50 - 4

51 - 5

52 - 5

 

The closest 6's in the run are # 20 and 21 and nothing until # 151-190.

[CentaurMan]

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!

 

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.

[SuperBird]

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

[Scrooge]

[<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.