MH Chuck's WW Dallas Report

[jools&jim]

Now... the person I do have a problem with is.... Buddy Saunders (for those who don't know he is the owner of Lone Star Comics and www.mycomicshop.com)

 

Buddy was probably doing more buying in the room than anyone that attended. He is not generally very polite to other dealers or other dealers customers and his weasel-ly side kick (the name slips me) acts just as bad, if not worse than he does.

 

...Chuck is tolerable. He at least has a place in the history of comics.

 

The mycomicshop guys are about as bad as comic dealers get, IMO.

 

I don't know a thing about LoneStar's buying practices at shows, but I do know this:

 

1. Buddy Saunders has been around a long time, too, and was heavily active in fandom back in the early '60s, long before he became a full-time comics dealer. Among other things, I'm pretty sure he was one of the publishers of "Star Studded Comics"--an early outlet for fan-produced comics stories:

 

Star-Studded

 

So Saunders has "a place in the history of comics", too.

 

2. In my experience at least as a buyer, the Mycomicshop.com website is easy to use; their on-line customer service people are first-rate; and their prices for lower and mid grade non-key books (especially '70s stuff) always tend to be very competitive. All of which is a lot more than I can say about my experiences with the Mile High website.

 

Just sayin'...

[FlyingDonut]

The Long Tail concept applies, because you can always sell a book to somebody, somewhere. The future of comic sales isn't big shows, its some slob like me sitting at a computer seling a copy of Girls' Romances 155 to some guy in Kazakhstan.

 

Buddy Saunders had a letter published in a very early issue of Spider-Man, maybe #8?

[CKB]

All of the above having been said, I need to confess that I'm right back in the cash flow hot seat again. After covering all the checks that I wrote in Dallas last weekend, I started my trip here to Michael Carbonaro's The National convention in New York City by going even deeper in the hole than I was at the end of the Dallas convention. In all honesty, this really isn't my fault. I came here with a very conservative budget in mind, but the dealers exhibiting the show had other plans. Before the convention even began, I had already purchased an astounding 15,000 Silver Age and Bronze Age comics! That's really an absolutely amazing number, as I can remember years past when I wouldn't purchase that many pre-1982 comics in an entire year! Things have really changed these days, however, and it seems that practically every comics dealer at this show brought me at least a few long boxes of mixed 1960-1982 comics. By the time I was done buying this morning, not only had I spent my entire budget for this convention, but I've got payments for some deals scheduled all the way into January of next year....

 

The man is shameless. Cries poverty all the way to the pottery auctions where he bids 6 figures. Did he leave anything reasonably priced in NYC for show attendees to buy???

[The Troll King]

The Long Tail concept applies, because you can always sell a book to somebody, somewhere. The future of comic sales isn't big shows, its some slob like me sitting at a computer seling a copy of Girls' Romances 155 to some guy in Kazakhstan.

 

Buddy Saunders had a letter published in a very early issue of Spider-Man, maybe #8?

 

Long Tail would only apply assuming that you could have an endless supply at reasonable cost

[sckao]

All of the above having been said, I need to confess that I'm right back in the cash flow hot seat again. After covering all the checks that I wrote in Dallas last weekend, I started my trip here to Michael Carbonaro's The National convention in New York City by going even deeper in the hole than I was at the end of the Dallas convention. In all honesty, this really isn't my fault. I came here with a very conservative budget in mind, but the dealers exhibiting the show had other plans. Before the convention even began, I had already purchased an astounding 15,000 Silver Age and Bronze Age comics! That's really an absolutely amazing number, as I can remember years past when I wouldn't purchase that many pre-1982 comics in an entire year! Things have really changed these days, however, and it seems that practically every comics dealer at this show brought me at least a few long boxes of mixed 1960-1982 comics. By the time I was done buying this morning, not only had I spent my entire budget for this convention, but I've got payments for some deals scheduled all the way into January of next year....

 

The man is shameless. Cries poverty all the way to the pottery auctions where he bids 6 figures. Did he leave anything reasonably priced in NYC for show attendees to buy???

 

I think you're confusing the buying budget for HIS BUSINESS with his personal life. The two are not the same.

[CKB]

All of the above having been said, I need to confess that I'm right back in the cash flow hot seat again. After covering all the checks that I wrote in Dallas last weekend, I started my trip here to Michael Carbonaro's The National convention in New York City by going even deeper in the hole than I was at the end of the Dallas convention. In all honesty, this really isn't my fault. I came here with a very conservative budget in mind, but the dealers exhibiting the show had other plans. Before the convention even began, I had already purchased an astounding 15,000 Silver Age and Bronze Age comics! That's really an absolutely amazing number, as I can remember years past when I wouldn't purchase that many pre-1982 comics in an entire year! Things have really changed these days, however, and it seems that practically every comics dealer at this show brought me at least a few long boxes of mixed 1960-1982 comics. By the time I was done buying this morning, not only had I spent my entire budget for this convention, but I've got payments for some deals scheduled all the way into January of next year....

 

The man is shameless. Cries poverty all the way to the pottery auctions where he bids 6 figures. Did he leave anything reasonably priced in NYC for show attendees to buy???

 

I think you're confusing the buying budget for HIS BUSINESS with his personal life. The two are not the same.

 

We don't know what he takes out of the business because it's a privately owned entity. So you think he's buying pottery with the proceeds from his farmstand? Of course, how silly of me.

[langur88]

 

The man is shameless. Cries poverty all the way to the pottery auctions where he bids 6 figures. Did he leave anything reasonably priced in NYC for show attendees to buy???

 

I think you're confusing the buying budget for HIS BUSINESS with his personal life. The two are not the same.

 

We don't know what he takes out of the business because it's a privately owned entity. So you think he's buying pottery with the proceeds from his farmstand? Of course, how silly of me.

 

[drice6900]

Did he leave anything reasonably priced in NYC for show attendees to buy???

 

This is what concerns me. Can't Chuck wait until after a show to make these deals? Doesn't seem fair to the average collector/show attendee.

 

Dealers may complain that they can't sell the books at the big shows and have to deal with Chuck, but how would they know when we aren't allowed the chance to even look at them first?

[langur88]

Did he leave anything reasonably priced in NYC for show attendees to buy???

 

This is what concerns me. Can't Chuck wait until after a show to make these deals? Doesn't seem fair to the average collector/show attendee.

 

 

It's not fair.

 

If Mile High is not setting up at a particular show he should not be allowed the advantage of getting in early to "Harvest" books.

 

It's not fair to the buying public and it's not fair to the other dealers who have a legitimate reason to be there buying books but are busy trying to load in and set up their booths. Never mind the other "friends of the promoter" who are allowed to get in shows early to the disadvantage of those who are there legitimately.

 

It's just not fair for someone to get off a plane with a checkbook and immediately hit the ground buying when they are not setting up at the show.

 

Chucks not keeping dealers in business with his twenty cents on the dollar buying. He is pushing them out.

 

This is why the common perception is that everything is well picked over before shows open and in most cases this is true. There are too many people who should not even be in the show picking through dealers stock while they are trying to set up.

 

Primate Promotions allows no early buying at our shows except for the dealers who are setting up at that particular show and even then they must have their stock in their space and their vehicle out of the loading area before they are allowed to buy.

 

If it's not fair to everybody, then it's fair to nobody..

[sckao]

Did he leave anything reasonably priced in NYC for show attendees to buy???

 

This is what concerns me. Can't Chuck wait until after a show to make these deals? Doesn't seem fair to the average collector/show attendee.

 

Dealers may complain that they can't sell the books at the big shows and have to deal with Chuck, but how would they know when we aren't allowed the chance to even look at them first?

 

This is Ironic. Here we all are talking in part about how eBay has leveled the playing field, made everyone a player/dealer, etc. and now people are complaining how other people are running their businesses.

 

Shouldn't you be blaming the OTHER DEALERS and not Chuck (or Buddy Saunders)? Are they being coerced into selling to Chuck? Is Chuck blackmailing them into selling their books? If you know Chuck doesn't pay that much, what stops you from doing the same thing? You know who the dealer list is beforehand based on most Convention Websites. Call the dealers and ask them what they have to sell. If the dealer knows that they can pay for part or most of their trip BEFORE the convention starts, how much of an incentive is that?

 

Are you saying that you can not also get into Conventions beforehand? Believe me, you don't need to be a dealer to get an exhibitor pass. I guess these people shouldn't be allowed in either.

 

I'm also shocked that people are begrudging Chuck the salary he takes home. What if someone said the same thing to you and questioned you publicly about your purchases? (Purchases displayed for all to see on these boards no less.) (Not your wife.. she doesn't count. )

 

(This post isn't directed at anyone in particular.)

[langur88]

Did he leave anything reasonably priced in NYC for show attendees to buy???

 

and now people are complaining how other people are running their businesses.

 

 

Where do you see that?

[PovertyRow]

Did he leave anything reasonably priced in NYC for show attendees to buy???

 

and now people are complaining how other people are running their businesses.

 

 

Where do you see that?

 

He ruined my business!

[CKB]

I'm also shocked that people are begrudging Chuck the salary he takes home.

 

What is troublesome is not that the man has a thriving business, it's the newsletters where he simultaneously claims poverty and record sales. Every week. I swear, sometime reading those things (which I enjoy immensely) is like the classic SNL skit where they spoofed the coin and collectible "shop at home" guys.

 

They have to sell more stuff and are going to close shop and they actually set the place on fire as the clock ticks down, and then they break out the fire extinguishers, clean up the set, and start to plug the next item like it never happened.

 

If Chuck came out and told us the truth - that Mile High is thriving because he can pick up quality material in bulk from those who can't move as much product as him - that would be fine. Instead we get lamentations that he's able to buy TOO MUCH bulk. And an update that the piece of pottery he wants that costs 6-figures is out of his league. But he picked up 18 5-figure pieces instead. Please.

[lighthouse]

As strange as it may seem, I actually think Chuck's wholesale buying at shows is good for the hobby.

 

Scenario 1: Chuck doesn't show up. Dealer A sells 600 books out of his $1 stock. 300 of these books are sold to other dealers at 75c each. The dealers who purchased these books intend to resell them at $2 each. 300 are sold to collectors who intend to keep them in their collections.

 

Scenario 2: Chuck shows up. Dealer A sells 2400 books out of his $1 stock to Chuck at 40c a piece. Dealer A sells an additional 100 books of $1 stock to collectors. Chuck resells these 2400 books at an average of $4 each on his website.

 

In scenario 1, Dealer A moves 600 books and receives $525 cash he can use to purchase new collections. He restocks the 600 books at an average of 20c a book, and retains $405 profit.

 

In scenario 2, Dealer A moves 2500 books and receives $1,060 cash he can use to purchase new collections. He restocks the 2500 books at an average of 15c a book, and retains $685 profit.

 

In scenario 1, other dealers turn a $375 profit after a year of holding the books.

In scenario 2, Chuck turns a $7,200 profit (figuring it costs him roughly 60c a book in labor and shipping to prepare these books for sale) after 2 months of holding the books.

 

 

It's easy to say that Chuck has stolen money away from other dealers in this scenario. But what he has done is absolutely better for the hobby.

 

In scenario 1, 300 books have moved from "Some random lady's garage" into the hands of someone who really wants the book. Another 300 have moved from "Some random lady's garage" into the hands of a dealer charging $2 a piece where they will sit for a year before being in the hands of a collector.

 

In scenario 2, 100 books have moved from "Some random lady's garage" into the hands of someone who really wants the book. Another 2400 have moved from "Some random lady's garage" into the hands of a dealer charging $4 a piece where they will sit for two months before being in the hands of a collector.

 

 

Chuck doesn't hoard inventory. His mainframe reprices inventory every hour to ensure that it is moving at exactly the same rate at which he can replenish it. Rest assured that if he buys stock at a con, it's because he knows it will move quickly for him. And his stock does not move quickly to dealers, his stock moves quickly to collectors.

 

Chuck being at a show means that more collectors fill their collecting wants faster. And it means that less inventory stays stagnant in "Some random lady's garage". I don't care what you sell to hobbyists. If they are actively completing their comic book collections, that is good for your business. If Chuck makes it easier for someone to fill their run of FF 180-380, it gets that collector that much closer to buying your copies of FF 160-170. If Chuck helps folks to realize that it is possible to finish runs of certain titles, he increases demand for all the books in that title. That generates sales for other dealers down the line, and much more importantly, it keeps people in the hobby.

 

Liquidity is always a good thing, always. And Chuck brings liquidity to the comic market. He and Buddy Saunders both. Their websites allow customers who otherwise face high transaction costs or high opportunity costs to complete their runs and stay in the game. Chuck isn't buying 50c stock to sit on it. He is buying it because he can't get it in fast enough to meet the demand of his customers. There are collectors out there happily paying $5 a book for comics that are readily available at shows for 50c because the opportunity costs are simply too high. If Chuck doesn't restock at shows, those customers will not get those books through any other means. They will do without. And after enough time of doing without, they will do without comics altogether.

 

Argue all you like about what Chuck should have to pay to attend the show or set up at the show, or when he should be allowed to buy. But the fact is, it is good for the hobby for Chuck to be there.

 

 

What I would really be concerned about is if somebody with a lot of money (and a lot of boredom) started showing up at shows and hoarding this kind of stock. It wouldn't take but a few hundred grand a year to wipe out nearly all the liquidity in the late 70s to mid 80s market. And that kind of activity could put a huge damper on the collecting interest in that era... But thankfully, it's not happening.

[Dad&Son-migration]

On another aside, I'd also like to ask, doesn't anyone miss the days of hunting down that ONE issue that you haven't been able to find in forever?

 

Doesn't anyone miss the search? Usually the "find" is much more satisfying once you've spent awhile to look for something.

 

DadandSon is a perfect example, he has put together one of the best Strange Tales runs you will find in UNDER 2 months!

 

Being a ST collector, I'm living the thrill of the hunt on a weekly basis (if not daily! ).

 

It's true that Paul (DadandSon) has put an impressive ST run. What helps a lot in his case, is that he's not trying to match the grades of certain neighboring books in his run, e.g. he is focusing on completing his run, leaving upgrades for later, which is a valid objective.

 

On my part, I have set certain restriction to my Strange Tales run (ex: ST 104-121 in CGC 8.5, ST 122-134 in CGC 9.0) which makes the hunt very difficult for some books. It's almost been two years since I started, and am not close to finish my run...

 

I've also found that the thrill of the hunt is taking risks on "raw" copies. For instance I have 10 ST books that I purchased "raw" at CGC at this moment. I have another 10 I'm sitting on in raw high grade that I'll submit once I put a batch of 15-20 "raw" together. I found this has helped tame the addiction of buying lately. Plus I have the bonus of being able to read them before submitting. My standard on the books evolves with the peaks and valleys of cash flow. The bottom line is that there are so many venues to buy from now I have my want list filled for the next year on ST's and barring them being sold first, I have a good chance at completing the entire 101-188 by this summer and having at least 25 copies of 1-100 in the series in 7.0 or better. Then the hunt will become upgrading any 7.5-8.5's to become 9.0's or higher. I also concentrate on plugging in Pedigrees of the series also.

[langur88]

As strange as it may seem, I actually think Chuck's wholesale buying at shows is good for the hobby.

 

Scenario 1: Chuck doesn't show up. Dealer A sells 600 books out of his $1 stock. 300 of these books are sold to other dealers at 75c each. The dealers who purchased these books intend to resell them at $2 each. 300 are sold to collectors who intend to keep them in their collections.

 

Scenario 2: Chuck shows up. Dealer A sells 2400 books out of his $1 stock to Chuck at 40c a piece. Dealer A sells an additional 100 books of $1 stock to collectors. Chuck resells these 2400 books at an average of $4 each on his website.

 

In scenario 1, Dealer A moves 600 books and receives $525 cash he can use to purchase new collections. He restocks the 600 books at an average of 20c a book, and retains $405 profit.

 

In scenario 2, Dealer A moves 2500 books and receives $1,060 cash he can use to purchase new collections. He restocks the 2500 books at an average of 15c a book, and retains $685 profit.

 

In scenario 1, other dealers turn a $375 profit after a year of holding the books.

In scenario 2, Chuck turns a $7,200 profit (figuring it costs him roughly 60c a book in labor and shipping to prepare these books for sale) after 2 months of holding the books.

 

 

It's easy to say that Chuck has stolen money away from other dealers in this scenario. But what he has done is absolutely better for the hobby.

 

In scenario 1, 300 books have moved from "Some random lady's garage" into the hands of someone who really wants the book. Another 300 have moved from "Some random lady's garage" into the hands of a dealer charging $2 a piece where they will sit for a year before being in the hands of a collector.

 

In scenario 2, 100 books have moved from "Some random lady's garage" into the hands of someone who really wants the book. Another 2400 have moved from "Some random lady's garage" into the hands of a dealer charging $4 a piece where they will sit for two months before being in the hands of a collector.

 

 

Chuck doesn't hoard inventory. His mainframe reprices inventory every hour to ensure that it is moving at exactly the same rate at which he can replenish it. Rest assured that if he buys stock at a con, it's because he knows it will move quickly for him. And his stock does not move quickly to dealers, his stock moves quickly to collectors.

 

Chuck being at a show means that more collectors fill their collecting wants faster. And it means that less inventory stays stagnant in "Some random lady's garage". I don't care what you sell to hobbyists. If they are actively completing their comic book collections, that is good for your business. If Chuck makes it easier for someone to fill their run of FF 180-380, it gets that collector that much closer to buying your copies of FF 160-170. If Chuck helps folks to realize that it is possible to finish runs of certain titles, he increases demand for all the books in that title. That generates sales for other dealers down the line, and much more importantly, it keeps people in the hobby.

 

Liquidity is always a good thing, always. And Chuck brings liquidity to the comic market. He and Buddy Saunders both. Their websites allow customers who otherwise face high transaction costs or high opportunity costs to complete their runs and stay in the game. Chuck isn't buying 50c stock to sit on it. He is buying it because he can't get it in fast enough to meet the demand of his customers. There are collectors out there happily paying $5 a book for comics that are readily available at shows for 50c because the opportunity costs are simply too high. If Chuck doesn't restock at shows, those customers will not get those books through any other means. They will do without. And after enough time of doing without, they will do without comics altogether.

 

Argue all you like about what Chuck should have to pay to attend the show or set up at the show, or when he should be allowed to buy. But the fact is, it is good for the hobby for Chuck to be there.

 

 

What I would really be concerned about is if somebody with a lot of money (and a lot of boredom) started showing up at shows and hoarding this kind of stock. It wouldn't take but a few hundred grand a year to wipe out nearly all the liquidity in the late 70s to mid 80s market. And that kind of activity could put a huge damper on the collecting interest in that era... But thankfully, it's not happening.

 

That was wasted time that I will never get back. Thanks for a bunch of words but very little substance.

 

Chuck's being at the show is good for Chuck and nobody else.

 

Chuck is buying early at shows and is taking the bargain books out of play away from the fan that paid $20 or more to get into the show to buy books. The customer now has to buy them from Chuck's web site for $4 because Chuck bought all the copies of the harder to find issues. He is not a fool but I think that he assumes that we all are.

 

He is not buying everthing. He is only buying books that would most likely sell at a higher price at the show anyway to an actual collecting customer.

 

The buying customer should get first crack at the shows books.

Not a dealer who did not even pay to get in.

 

Never mind the preferential treatment that he receives.

 

He asked to come to one of my shows to harvest books and I turned him down.

Why should he get an unfair advantage? He shouldn't. Our show customers should get first dibs.

 

He's the Mr. Potter of the comic book business telling you that he's doing you a favor when he is really trying to put you out of business like lambs to the slaughter.

[langur88]

 

Argue all you like about what Chuck should have to pay to attend the show or set up at the show, or when he should be allowed to buy. But the fact is, it is good for the hobby for Chuck to be there.

 

 

Pure nonsense. Chuck only does what is good for Chuck. Fact.

[sckao]

 

Argue all you like about what Chuck should have to pay to attend the show or set up at the show, or when he should be allowed to buy. But the fact is, it is good for the hobby for Chuck to be there.

 

 

Pure nonsense. Chuck only does what is good for Chuck. Fact.

 

 

You seem to have quite a lot of hostility for the larger dealers.

 

Since it's not apparent who you are from your username or bio, are you involved with Primate Promotions and Monkeyhouse Entertainment? I'm not sure if you're another dealer or if you're a promoter. (Or both.)

 

(Or even just a collector.)

[Stronguy]

Buddy Saunders had a letter published in a very early issue of Spider-Man, maybe #8?

 

Also in Avengers #3.

[langur88]

 

Argue all you like about what Chuck should have to pay to attend the show or set up at the show, or when he should be allowed to buy. But the fact is, it is good for the hobby for Chuck to be there.

 

 

Pure nonsense. Chuck only does what is good for Chuck. Fact.

 

 

You seem to have quite a lot of hostility for the larger dealers.

 

 

 

Not at all. My comments in this thread have been about Chuck and only Chuck. The thread is about Chuck isn't it? Show me where I mentioned one other dealer.

Please do not go from one egg to fifty chickens without any facts.

 

I also have no hostility towards Chuck either. I only speak of which I have seen with my own eyes or heard with my own ears.

 

Facts is facts. Chuck is what he is.