GL 76 -- HG Prices Still Going Up

[awe4one]

Wasn't it Doc Joe that sold the $30K 9.6? Whoever did could now buy that book back and still have $20K in their pocket after only a few years. That is a little sickening.

No, it was Joe Serpico/otherworldsj, and his timing and instincts in selling his book when he did were impeccable.

 

I think what threw people off for a long time was that GL 76s had been going for very decent money in 9.4 for a while, without any exponential increase in the population of 9.4s and the number of 9.6 copies remaining at 1, which caused many people (myself included) to start thinking that maybe the book really was that hard to find in HG.

 

But once Joe's 9.6 copy sold, the floodgates opened and the inevitable price crash occurred.

 

Not to say I (we actually because there were others) told ya all so. Sink big, big money into any Bronze comic and it draws the attention of casual raw collectors. No Bronze (or most Silver) comic is scarce in HG in my opinion and just because the census doesn't reflect an abundance of HG copies, it doesn't mean there aren't multiples sitting in raw collections. Everyone for ages treated CGC as the place collectors placed their HG comics. It's still not true. The vast majority of collectors do not need CGC until they decide to sell. And there are still many collectors out there who have no need for the service or dislike the "slab" part of the hobby. But boy, they'll bite the bullet should a Bronze comic hit the stratosphere like GL #76 did. And the current increase in HG attests to that. Make Fast Willy Jackson #1 the next 5-figure comic and you'll see boatloads (or boxes) of similar HG comics fly out of collections...

 

Jim

[tth2]

Wasn't it Doc Joe that sold the $30K 9.6? Whoever did could now buy that book back and still have $20K in their pocket after only a few years. That is a little sickening.

No, it was Joe Serpico/otherworldsj, and his timing and instincts in selling his book when he did were impeccable.

 

I think what threw people off for a long time was that GL 76s had been going for very decent money in 9.4 for a while, without any exponential increase in the population of 9.4s and the number of 9.6 copies remaining at 1, which caused many people (myself included) to start thinking that maybe the book really was that hard to find in HG.

 

But once Joe's 9.6 copy sold, the floodgates opened and the inevitable price crash occurred.

 

Not to say I (we actually because there were others) told ya all so. Sink big, big money into any Bronze comic and it draws the attention of casual raw collectors. No Bronze (or most Silver) comic is scarce in HG in my opinion and just because the census doesn't reflect an abundance of HG copies, it doesn't mean there aren't multiples sitting in raw collections. Everyone for ages treated CGC as the place collectors placed their HG comics. It's still not true. The vast majority of collectors do not need CGC until they decide to sell. And there are still many collectors out there who have no need for the service or dislike the "slab" part of the hobby. But boy, they'll bite the bullet should a Bronze comic hit the stratosphere like GL #76 did. And the current increase in HG attests to that. Make Fast Willy Jackson #1 the next 5-figure comic and you'll see boatloads (or boxes) of similar HG comics fly out of collections...

 

Jim

Okay, but you have to admit that $4,000, let alone $8,000, is a lot for a BA book in 9.4, particularly if it's really not rare in those grades. So why no big rush at those prices? When Hulk 181 and GSX 1, two truly common books in high grade, first started selling in the CGC era, the floodgates opened immediately when people saw the prices being achieved.

 

Why did a 9.6 copy of GL 76 have to sell at $30K before the floodgates finally opened?

[awe4one]

Wasn't it Doc Joe that sold the $30K 9.6? Whoever did could now buy that book back and still have $20K in their pocket after only a few years. That is a little sickening.

No, it was Joe Serpico/otherworldsj, and his timing and instincts in selling his book when he did were impeccable.

 

I think what threw people off for a long time was that GL 76s had been going for very decent money in 9.4 for a while, without any exponential increase in the population of 9.4s and the number of 9.6 copies remaining at 1, which caused many people (myself included) to start thinking that maybe the book really was that hard to find in HG.

 

But once Joe's 9.6 copy sold, the floodgates opened and the inevitable price crash occurred.

 

Not to say I (we actually because there were others) told ya all so. Sink big, big money into any Bronze comic and it draws the attention of casual raw collectors. No Bronze (or most Silver) comic is scarce in HG in my opinion and just because the census doesn't reflect an abundance of HG copies, it doesn't mean there aren't multiples sitting in raw collections. Everyone for ages treated CGC as the place collectors placed their HG comics. It's still not true. The vast majority of collectors do not need CGC until they decide to sell. And there are still many collectors out there who have no need for the service or dislike the "slab" part of the hobby. But boy, they'll bite the bullet should a Bronze comic hit the stratosphere like GL #76 did. And the current increase in HG attests to that. Make Fast Willy Jackson #1 the next 5-figure comic and you'll see boatloads (or boxes) of similar HG comics fly out of collections...

 

Jim

Okay, but you have to admit that $4,000, let alone $8,000, is a lot for a BA book in 9.4, particularly if it's really not rare in those grades. So why no big rush at those prices? When Hulk 181 and GSX 1, two truly common books in high grade, first started selling in the CGC era, the floodgates opened immediately when people saw the prices being achieved.

 

Why did a 9.6 copy of GL 76 have to sell at $30K before the floodgates finally opened?

 

Fair enough...but I also think some collectors know what they have and revel in knowing that their comic "can" fetch said cash when they want to sell.

 

Collectors are a strange breed in the respect. Knowing that a comic is worth X dollars is satisfying to them but they don't have any intention of selling as they don't want to give up their "gem". Just knowing gives them the satisfaction. And the rapid run-up for GL #76 compared to what was known as common in HG X-Men or Hulk is a different beast. They know it's more scarce and revel in that knowledge as well...

 

Jim

[mysterio]

Wasn't it Doc Joe that sold the $30K 9.6? Whoever did could now buy that book back and still have $20K in their pocket after only a few years. That is a little sickening.

No, it was Joe Serpico/otherworldsj, and his timing and instincts in selling his book when he did were impeccable.

 

I think what threw people off for a long time was that GL 76s had been going for very decent money in 9.4 for a while, without any exponential increase in the population of 9.4s and the number of 9.6 copies remaining at 1, which caused many people (myself included) to start thinking that maybe the book really was that hard to find in HG.

 

But once Joe's 9.6 copy sold, the floodgates opened and the inevitable price crash occurred.

 

Not to say I (we actually because there were others) told ya all so. Sink big, big money into any Bronze comic and it draws the attention of casual raw collectors. No Bronze (or most Silver) comic is scarce in HG in my opinion and just because the census doesn't reflect an abundance of HG copies, it doesn't mean there aren't multiples sitting in raw collections. Everyone for ages treated CGC as the place collectors placed their HG comics. It's still not true. The vast majority of collectors do not need CGC until they decide to sell. And there are still many collectors out there who have no need for the service or dislike the "slab" part of the hobby. But boy, they'll bite the bullet should a Bronze comic hit the stratosphere like GL #76 did. And the current increase in HG attests to that. Make Fast Willy Jackson #1 the next 5-figure comic and you'll see boatloads (or boxes) of similar HG comics fly out of collections...

 

Jim

Okay, but you have to admit that $4,000, let alone $8,000, is a lot for a BA book in 9.4, particularly if it's really not rare in those grades. So why no big rush at those prices? When Hulk 181 and GSX 1, two truly common books in high grade, first started selling in the CGC era, the floodgates opened immediately when people saw the prices being achieved.

 

Why did a 9.6 copy of GL 76 have to sell at $30K before the floodgates finally opened?

 

You could argue that GL 76 was perceived to be so rare in high grade that people were more inclined to keep their nice copies than sell them because they replacement cost would be too great if they got seller's remorse. But everyone has their price, and when the 9.6 sold at $30K apparently that was enough to open the floodgates and bring all those books to market so people could cash in. Now that prices are falling the books may still be coming to market for the same reason that people sell stocks in a falling market, they want to get their money out before the inevitable bottom. People may also think that they can sell their copy and then buy it back when prices level out over the next couple of years, basically the comic equivalent of shorting a stock.

[Zonker]

Not on topic with the recent discussion, but pages and pages ago we were discussing to what degree the original publication was a commercial success or not.

 

I came across this analysis of GL sales figures while looking for something else. Sheds a bit of light on a possible reason why the O'Neil/Adams experiment was cancelled-- while arguably a modest success, it didn't exactly set the world on fire sales-wise, and so wasn't worth the cost of the Adams-induced late fees from the printers. (Wow, publishers incurring costs for being late... times certainly have changed! )

 

Green Lantern 1972 cancellation

Posted: May 13, 2011 3:55 PM Reply

 

 

Why was GL vol. 2 cancelled in 1972?

 

GL vol. 2 launched in 1960 and sold in excess of 200,000 copies per issue every year - until 1969. Sales declined that year to 160,423 copies sold per issue, down from 1968's number of 211,750 sold per issue - reflecting a year of fill-in stories after the departure of the main GL creative team in late 1968. In January 1970 DC debuted their new creative team (O'Neil/Adams) and added the GL/GA relevance angle. But sales actually went down further that year - to 134,150 per issue.

 

In 1971 superhero comics sales were down all around. DC had only 2 superhero titles that showed mild increases - JLA, and GL. GL's sales went up to 142,657 per issue. But the book was still cancelled late in the year, the last issue appearing in January 1972. Despite the fact that several popular DC books were selling at similar levels in 1972 - Flash sold 152,221 copies per issue, and JLA sold 168,871 copes per issue.

 

So why was the series cancelled, when sales had actually gone up ? Late fees. Neal Adams, the famed GL/GA artist, was habitually late. Almost every issue of GL was sent to the printer after deadline. By late 1971, the schedule for issue 88 was long gone, and DC editorial had to hastily put together a reprint issue at the last minute.

 

When publisher Carmine Infantino saw the printing fees on recent issues, he cancelled the series. As he told Comic Book Artist in issue # 1,1998:

 

CBA : Why was Green Lantern cancelled?

Carmine : Probably for the same reason other books were cancelled -- they didn't sell -- in this case, the artist being very late. We had to cobble up the next-to-last issue out of reprints overnight. It was a marginal book and the printer's late fees killed the book.

 

This was a highly controversial decision at the time; in fact Infantino has said this is the most asked question he received in later years regarding his tenure as DC publisher.

 

DC then made GL a co-star of Flash, and the next year Flash's sales increased to 163,604 copies sold per issue - the first time Flash had an increase in yearly sales since 1966. Sales went up over the next 2 years as well.

[paperheart]

$3,333 for a 9.4 on Pedigree tonight; i took a half hearted stab at it but that honking stress line at top staple turned me off

[tth2]

So any predictions on what price 9.4 copies will bottom out at?

[Warren Oates]

$1500 + or - $400 based on page color and appearance

 

 

[Bronty]

no way. I'd buy a 9.4 for 1500 right now and I don't collect hg (or really collect comics anymore, for quite some time now). As disinterested as I am if I am willing to pay 1500 for an average 9.4 there is no way it is going to go for only 1500

[Bronty]

So any predictions on what price 9.4 copies will bottom out at?

 

honestly I can't see them dropping much below that 3k or 2500 at worst.

 

Anybody got one they want to sell cheap?

[VintageComics]

$1500 + or - $400 based on page color and appearance

 

 

No way. Demand in lower grades up to VF+ is still strong and has been rising all year.

 

I honestly don't think Doug's book or auction is an indication of what a 9.4 fetches on the open market. If I saw that book at $3300 I would have bid on it myself.

 

So far 9.2 copies have been fairly consistent at $2000-2500+. I'd expect 9.4 copies to stay in the $4000-5000 (minimum) range depending on page quality and eye appeal.

 

For 9.4 copies to drop to $1500 you'd have to see the bottom fall out lower grade copies and be able to purchase a VF for $200...and I don't think that's going to happen any time soon. Too many people love the book.

[Gotham Kid]

My guess is 9.4s will level off at 3k as was the case with 181 ... as more copies surface, only time will tell.

[paperheart]

$1500 + or - $400 based on page color and appearance

 

 

No way. Demand in lower grades up to VF+ is still strong and has been rising all year.

 

I honestly don't think Doug's book or auction is an indication of what a 9.4 fetches on the open market. If I saw that book at $3300 I would have bid on it myself.

 

So far 9.2 copies have been fairly consistent at $2000-2500+. I'd expect 9.4 copies to stay in the $4000-5000 (minimum) range depending on page quality and eye appeal.

 

For 9.4 copies to drop to $1500 you'd have to see the bottom fall out lower grade copies and be able to purchase a VF for $200...and I don't think that's going to happen any time soon. Too many people love the book.

 

i nearly agree w/ this; i would've bid that up to $3750 and it's nicer than the miswrapped copy that sold on clink for $4k, no chance you're going to buy a 9.4 of this for 1/2 guide unless the world implodes.

[supapimp]

it's gonna be the same as XM 94 prices. just watch.

[Justin Case]

it's gonna be the same as XM 94 prices. just watch.

 

Im not so sure. If it does it wont be for a few a few years yet. Something i noticed recentlyis that in July 2003 before the new label was introduced there were 36 copies in 9.0 or better. When was the last time you saw a GL #76 in 9.0 or better in an old label? So where have all these copies gone? I suspect that most of these copies have been pressed or re-submitted and this is one contributing factor as to why the census on high grade copies has swelled. Also if the old labels were not sent in then of course it will be even higher. I would love to see an old label 9.4 be put up for auction just to see what happens but sadly i dont think we are going to see one.

[supapimp]

marvels are collected way more than DC, hence more XM 94 on the census than GL 76, and i'm sure it's the same for demand.i remember when there wasn't a XM 94 CGC 9.8 on the census and CGC 9.6s were selling for $7500.

[Aman619]

it's gonna be the same as XM 94 prices. just watch.

 

Im not so sure. If it does it wont be for a few a few years yet. Something i noticed recentlyis that in July 2003 before the new label was introduced there were 36 copies in 9.0 or better. When was the last time you saw a GL #76 in 9.0 or better in an old label? So where have all these copies gone? I suspect that most of these copies have been pressed or re-submitted and this is one contributing factor as to why the census on high grade copies has swelled. Also if the old labels were not sent in then of course it will be even higher. I would love to see an old label 9.4 be put up for auction just to see what happens but sadly i dont think we are going to see one.

 

Yes I agree. My feeling is that half of the 9.4 on the census don't exist anymore. There a quite a few 9.4s wearing their second or third serial numbered slab . But how could we ever know for sure?

 

 

[tth2]

it's gonna be the same as XM 94 prices. just watch.

 

Im not so sure. If it does it wont be for a few a few years yet. Something i noticed recentlyis that in July 2003 before the new label was introduced there were 36 copies in 9.0 or better. When was the last time you saw a GL #76 in 9.0 or better in an old label? So where have all these copies gone? I suspect that most of these copies have been pressed or re-submitted and this is one contributing factor as to why the census on high grade copies has swelled. Also if the old labels were not sent in then of course it will be even higher. I would love to see an old label 9.4 be put up for auction just to see what happens but sadly i dont think we are going to see one.

 

Yes I agree. My feeling is that half of the 9.4 on the census don't exist anymore. There a quite a few 9.4s wearing their second or third serial numbered slab . But how could we ever know for sure?

 

Does it matter how many copies there are in the Census? The main thing is that 9.4 and/or 9.6 issues show up in virtually every online auction these days, indicating that they're abundantly available.

[Aman619]

course it matters. when they settle down it it will matter how many there really are out there.

 

theres a difference between a book with a few copies that cant find a home... and 34 copies to choose form. One is scarce but unlucky n love; the other is common as dirt.

[tth2]

course it matters. when they settle down it it will matter how many there really are out there.

 

theres a difference between a book with a few copies that cant find a home... and 34 copies to choose form. One is scarce but unlucky n love; the other is common as dirt.

I'm pretty sure the majority of the issues that we've seen for sale over the past couple of years have not been the same issues recycling over and over like a 9.0 MC #1.