GA Books in Upcoming Mastro Auction 11/20 - 12/6

[Timely]

Congrats on the MF books. The 95 is a cool cover (but what happens 1 second later?)

 

They get wet I guess.

 

That's my old copy. I bought it from Pat Kochanek in 1993.

 

West

[sacentaur]

I completely forgot about the auction as well.

 

STEVE

[CentaurMan]

I put in 7 bids on books I normally wouldn't be interested in (mostly Timelys) at 50%-65% of the price I'd expect to pay on Heritage or Metro. I didn't expect any of them to stand up, but 1 did, so I'm pretty psyched. My feeling was that it's hard to go wrong paying well under market value for popular GA superhero books.

 

Luckily, many sellers didn't put reserves on the items. I think the quickest way to kill Mastro's emerging rep amongst comic collectors would be to have a ton of stuff priced unrealistically that didn't sell (then appeared again in later auctions). As currently configured, it was a solid auction with decent material and I'll be watching for their next one.

[Bullet123]

I put in 7 bids on books I normally wouldn't be interested in (mostly Timelys) at 50%-65% of the price I'd expect to pay on Heritage or Metro. I didn't expect any of them to stand up, but 1 did, so I'm pretty psyched. My feeling was that it's hard to go wrong paying well under market value for popular GA superhero books.

 

Luckily, many sellers didn't put reserves on the items. I think the quickest way to kill Mastro's emerging rep amongst comic collectors would be to have a ton of stuff priced unrealistically that didn't sell (then appeared again in later auctions). As currently configured, it was a solid auction with decent material and I'll be watching for their next one.

 

There probably won't be a next one as consignors when they see the mediocre results will stick to the avenues you mentioned above that consistently get better prices for their consignors

[esquirecomics]

Congrats on the MF books. The 95 is a cool cover (but what happens 1 second later?)

 

They get wet I guess.

 

That's my old copy. I bought it from Pat Kochanek in 1993.

 

West

 

Yea, yea, I know, I'm buying ALL your old books!

[esquirecomics]

I put in 7 bids on books I normally wouldn't be interested in (mostly Timelys) at 50%-65% of the price I'd expect to pay on Heritage or Metro. I didn't expect any of them to stand up, but 1 did, so I'm pretty psyched. My feeling was that it's hard to go wrong paying well under market value for popular GA superhero books.

 

Luckily, many sellers didn't put reserves on the items. I think the quickest way to kill Mastro's emerging rep amongst comic collectors would be to have a ton of stuff priced unrealistically that didn't sell (then appeared again in later auctions). As currently configured, it was a solid auction with decent material and I'll be watching for their next one.

 

There probably won't be a next one as consignors when they see the mediocre results will stick to the avenues you mentioned above that consistently get better prices for their consignors

 

I disagree. The competition is needed and there are those of us who are more than willing to help Mastro. I will gladly reconsign more books regardless of whether they sell or not. I'm sure others will as well. It takes time and hard work.

[jimm94]

If you really want to help, you could consign some books with no or low reserves. I'm not saying you should give away your primo inventory, but I'm sure you could come up with a few nice books that would still sell at fair prices.

[CentaurMan]

I will gladly reconsign more books regardless of whether they sell or not.

 

Consigning books that don't sell isn't helpful to anyone. If I want to look at inventory priced too high, I'll just go to ComicLink. Which I why I don't go to ComicLink much anymore. The appeal to Mastro is that they've got quite a few no reserve auctions, not that they've got the same old books I've seen on other sites, priced to sit.

[tth2]

I put in 7 bids on books I normally wouldn't be interested in (mostly Timelys) at 50%-65% of the price I'd expect to pay on Heritage or Metro. I didn't expect any of them to stand up, but 1 did, so I'm pretty psyched. My feeling was that it's hard to go wrong paying well under market value for popular GA superhero books.

 

Luckily, many sellers didn't put reserves on the items. I think the quickest way to kill Mastro's emerging rep amongst comic collectors would be to have a ton of stuff priced unrealistically that didn't sell (then appeared again in later auctions). As currently configured, it was a solid auction with decent material and I'll be watching for their next one.

 

There probably won't be a next one as consignors when they see the mediocre results will stick to the avenues you mentioned above that consistently get better prices for their consignors

I don't know if I'd go that far, Bob, but I do think that if I were considering consigning and saw that quite a few big hitters simply forgot about the auction, and others were raving about the great deals that they got, I would definitely have to think long and hard about going with Mastro.

[tth2]

I will gladly reconsign more books regardless of whether they sell or not. I'm sure others will as well. It takes time and hard work.

Real men sell their books without reserves!

[action1kid]

I will gladly reconsign more books regardless of whether they sell or not. I'm sure others will as well. It takes time and hard work.

Real men sell their books without reserves!

 

It separates the men from the boys.

[esquirecomics]

I will gladly reconsign more books regardless of whether they sell or not. I'm sure others will as well. It takes time and hard work.

Real men sell their books without reserves!

 

It separates the men from the boys.

 

to you both!

[esquirecomics]

I will gladly reconsign more books regardless of whether they sell or not.

 

Consigning books that don't sell isn't helpful to anyone. If I want to look at inventory priced too high, I'll just go to ComicLink. Which I why I don't go to ComicLink much anymore. The appeal to Mastro is that they've got quite a few no reserve auctions, not that they've got the same old books I've seen on other sites, priced to sit.

 

The first thing is to demonstrate to the massess the type of inventory that Mastro will have available for auction. They need to be able to offer a certain type of books. Simply selling mid-grade Spiderman #8s is not going to attract heavy hitters or even a multitude of bidders.

 

I understand what you guys are saying, but while I am happy to help out Mastro (as I also did with Hakes) to generate interest in their auctions, I am not going so far as causing myself to suffer financial harm by allowing a book to be sold for a price that is below what I would accept. I am a nice guy, but not stupid or so rich that I don't care.

[tth2]

I will gladly reconsign more books regardless of whether they sell or not.

 

Consigning books that don't sell isn't helpful to anyone. If I want to look at inventory priced too high, I'll just go to ComicLink. Which I why I don't go to ComicLink much anymore. The appeal to Mastro is that they've got quite a few no reserve auctions, not that they've got the same old books I've seen on other sites, priced to sit.

 

The first thing is to demonstrate to the massess the type of inventory that Mastro will have available for auction. They need to be able to offer a certain type of books. Simply selling mid-grade Spiderman #8s is not going to attract heavy hitters or even a multitude of bidders.

 

I understand what you guys are saying, but while I am happy to help out Mastro (as I also did with Hakes) to generate interest in their auctions, I am not going so far as causing myself to suffer financial harm by allowing a book to be sold for a price that is below what I would accept. I am a nice guy, but not stupid or so rich that I don't care.

Hakes is a good example of what Win's talking about, actually. Didn't their continuous listing of books priced so high that they wouldn't sell just turn a lot of collectors off?

[CentaurMan]

I understand what you guys are saying, but while I am happy to help out Mastro (as I also did with Hakes) to generate interest in their auctions, I am not going so far as causing myself to suffer financial harm by allowing a book to be sold for a price that is below what I would accept. I am a nice guy, but not stupid or so rich that I don't care.

 

The single most important factor in determining whether someone makes money selling their comics is the original purchase price. Do you believe the consignors who allowed their books to be sold at Mastro without reserves suffered financial harm and therefore must be either stupid or so rich they don't care? Or is it possible that they had originally paid astute prices for their books and as such were able to sell them for a profit while making the buyers happy and helping Mastro establish themselves?

 

It's normally irrelevant to me what someone paid for the book they're trying to sell, but it becomes relevant if that original price anchors the seller to an above-market reserve. Look at the grimstarman books that show up all the time on eBay, ComicLink, and Heritage. Look at all the Gaines copies that show up again and again. It's simply frustrating to see the same inventory rotating from web site to web site, priced inappropriately while simultaneously giving the subliminal appearance that the books are more common than they really are (since we keep seeing them).

 

My rule of thumb on reserves is this: I totally understand setting a reserve at 50%-65% of fair market value (defined by prior sales on Heritage, recorded eBay sales, current asking prices on Metro, whatever) to protect the book from going at pennies on the dollar. But if a book is being "auctioned" with a reserve equal to 85% of market value or above, then it's not really an auction, it's an inventory listing. Active bidding is highly unlikely to occur on such a book above the reserve, and I don't think it helps auction houses to simply show inventory that isn't designed to sell, no matter how cool the inventory.

 

And if setting a reserve at 50%-65% of fair market value causes the seller undue financial harm, then it's likely that either the seller paid too much for the book in the first place or is selling a low demand book only a couple of years after its purchase.

[esquirecomics]

I will gladly reconsign more books regardless of whether they sell or not.

 

Consigning books that don't sell isn't helpful to anyone. If I want to look at inventory priced too high, I'll just go to ComicLink. Which I why I don't go to ComicLink much anymore. The appeal to Mastro is that they've got quite a few no reserve auctions, not that they've got the same old books I've seen on other sites, priced to sit.

 

The first thing is to demonstrate to the massess the type of inventory that Mastro will have available for auction. They need to be able to offer a certain type of books. Simply selling mid-grade Spiderman #8s is not going to attract heavy hitters or even a multitude of bidders.

 

I understand what you guys are saying, but while I am happy to help out Mastro (as I also did with Hakes) to generate interest in their auctions, I am not going so far as causing myself to suffer financial harm by allowing a book to be sold for a price that is below what I would accept. I am a nice guy, but not stupid or so rich that I don't care.

Hakes is a good example of what Win's talking about, actually. Didn't their continuous listing of books priced so high that they wouldn't sell just turn a lot of collectors off?

 

I can't speak for a lot of collectors, but I certainly agree that Hakes' starting prices were usually quite high, especially when you had to factor in the BP. But that has never stopped me from looking at their auctions. It just stops me from generally buying. When I see a book that is priced at a level I am comfortable with, whether that is below market, at market or above market, I bid.

[Sal]

I understand what you guys are saying, but while I am happy to help out Mastro (as I also did with Hakes) to generate interest in their auctions, I am not going so far as causing myself to suffer financial harm by allowing a book to be sold for a price that is below what I would accept. I am a nice guy, but not stupid or so rich that I don't care.

 

The single most important factor in determining whether someone makes money selling their comics is the original purchase price. Do you believe the consignors who allowed their books to be sold at Mastro without reserves suffered financial harm and therefore must be either stupid or so rich they don't care? Or is it possible that they had originally paid astute prices for their books and as such were able to sell them for a profit while making the buyers happy and helping Mastro establish themselves?

 

It's normally irrelevant to me what someone paid for the book they're trying to sell, but it becomes relevant if that original price anchors the seller to an above-market reserve. Look at the grimstarman books that show up all the time on eBay, ComicLink, and Heritage. Look at all the Gaines copies that show up again and again. It's simply frustrating to see the same inventory rotating from web site to web site, priced inappropriately while simultaneously giving the subliminal appearance that the books are more common than they really are (since we keep seeing them).

 

My rule of thumb on reserves is this: I totally understand setting a reserve at 50%-65% of fair market value (defined by prior sales on Heritage, recorded eBay sales, current asking prices on Metro, whatever) to protect the book from going at pennies on the dollar. But if a book is being "auctioned" with a reserve equal to 85% of market value or above, then it's not really an auction, it's an inventory listing. Active bidding is highly unlikely to occur on such a book above the reserve, and I don't think it helps auction houses to simply show inventory that isn't designed to sell, no matter how cool the inventory.

 

And if setting a reserve at 50%-65% of fair market value causes the seller undue financial harm, then it's likely that either the seller paid too much for the book in the first place or is selling a low demand book only a couple of years after its purchase.

 

it would be physically impossible for me to agree with this more. well said. i think this also applies across the board, rather than just GA books. many sellers who paid 20% of guide - or less, if they bought wholesale - are simply unwilling to take 60% of guide for the books, holding out for 85 or 90%...which may never realise

[action1kid]

I will gladly reconsign more books regardless of whether they sell or not.

 

Consigning books that don't sell isn't helpful to anyone. If I want to look at inventory priced too high, I'll just go to ComicLink. Which I why I don't go to ComicLink much anymore. The appeal to Mastro is that they've got quite a few no reserve auctions, not that they've got the same old books I've seen on other sites, priced to sit.

 

The first thing is to demonstrate to the massess the type of inventory that Mastro will have available for auction. They need to be able to offer a certain type of books. Simply selling mid-grade Spiderman #8s is not going to attract heavy hitters or even a multitude of bidders.

 

I understand what you guys are saying, but while I am happy to help out Mastro (as I also did with Hakes) to generate interest in their auctions, I am not going so far as causing myself to suffer financial harm by allowing a book to be sold for a price that is below what I would accept. I am a nice guy, but not stupid or so rich that I don't care.

Hakes is a good example of what Win's talking about, actually. Didn't their continuous listing of books priced so high that they wouldn't sell just turn a lot of collectors off?

 

I can't speak for a lot of collectors, but I certainly agree that Hakes' starting prices were usually quite high, especially when you had to factor in the BP. But that has never stopped me from looking at their auctions. It just stops me from generally buying. When I see a book that is priced at a level I am comfortable with, whether that is below market, at market or above market, I bid.

 

I believe Mastro has the Auction record for the sale of an Action 1...194k[7.5 copy on census, in 2002....This does not count dealer or private sales.Simply Auction sales

[esquirecomics]

I understand what you guys are saying, but while I am happy to help out Mastro (as I also did with Hakes) to generate interest in their auctions, I am not going so far as causing myself to suffer financial harm by allowing a book to be sold for a price that is below what I would accept. I am a nice guy, but not stupid or so rich that I don't care.

 

The single most important factor in determining whether someone makes money selling their comics is the original purchase price. Do you believe the consignors who allowed their books to be sold at Mastro without reserves suffered financial harm and therefore must be either stupid or so rich they don't care? Or is it possible that they had originally paid astute prices for their books and as such were able to sell them for a profit while making the buyers happy and helping Mastro establish themselves?

 

I am offering no opinion on the situations faced by other consignors, nor did I imply anything. I was talking about myself only.

 

Now if you are implying that I paid too much for some of my books, well, on some you are correct. The All Flash #1 CGC 8.0 is a perfect example, even though I paid a significant amount under guide for it. I soon found out that the book is a dog and I would gladly sell that one, perhaps even at a loss to untie the money.

 

But I disagree with your outlook. I do not see it as my responsibility to have to bear the burden of making unknown buyers happy while helping Mastro, or any auction house, establish itself at my expense. When people contact me directly for a purchase I invariably always work with someone to reach an accomodation on price so that the transaction is a positive one. But I do not share that view when I consign a book to an auction house.

 

It's normally irrelevant to me what someone paid for the book they're trying to sell, but it becomes relevant if that original price anchors the seller to an above-market reserve. Look at the grimstarman books that show up all the time on eBay, ComicLink, and Heritage. Look at all the Gaines copies that show up again and again. It's simply frustrating to see the same inventory rotating from web site to web site, priced inappropriately while simultaneously giving the subliminal appearance that the books are more common than they really are (since we keep seeing them).

 

Win, I see this as more of your personal gripe than any existing rule or policy for the community, though perhaps many people share your view. In fact, I share your view with respect to the rotation of books or the same continual inventory. I've made the same observation about Heritage and the Gaines books. They should not be offered each and every time as I think that creates the false impression. However, that is up to Jim Halperin. They are his books. He sets the prices. He offers the books. If someone wants to buy it, fine. If not, fine. It is his business, not ours. I rarely rotate my books around. They are on my site and in my ebay store (which is very clearly mine) and perhaps go to an auction house once a calendar year. I purposefully do not typically continually send the book around.

 

An "above-market" reserve? "Priced inappropriately?" Those are subjective views and you are entitled to them of course (and, again, maybe this is a majority view and at times I personally view a book has being priced too high), but this view is not a factor for the seller to consider. The seller determines what price he wants to set. The auction house can certainly reject the book if they wanted to. I can tell you that I have consigned books to Heritage, Hakes and Mastro and they have always taken the reserves I set. Heritage is certainly the most competitve because of its size, but for an auction house, especially when starting out in a certain field, it is far more important, IMHO, to display certain types of inventory rather than prices, though there is indeed a catch-22 there.

 

My rule of thumb on reserves is this: I totally understand setting a reserve at 50%-65% of fair market value (defined by prior sales on Heritage, recorded eBay sales, current asking prices on Metro, whatever) to protect the book from going at pennies on the dollar. But if a book is being "auctioned" with a reserve equal to 85% of market value or above, then it's not really an auction, it's an inventory listing. Active bidding is highly unlikely to occur on such a book above the reserve, and I don't think it helps auction houses to simply show inventory that isn't designed to sell, no matter how cool the inventory.

 

And if setting a reserve at 50%-65% of fair market value causes the seller undue financial harm, then it's likely that either the seller paid too much for the book in the first place or is selling a low demand book only a couple of years after its purchase.

 

We'll have to agree to disagree on the above. I view these as entirely personal opinions that are irrelevant to anyone but you, though by no means am I saying they are not valid. They are perfectly valid (and, yet once again, perrhaps shared by the majority) and that is fine, but these numbers mean nothing to me, nor should they. Whether it is an inventory listing or an auction, the distinction is one of semantics. There are all auctions. If someone bids, someone can bid higher. There is no outright purchase opportunity. It would seem to me that your view is basically that auction houses should cater to the buyer's community (i.e., sales prices should be under or at market value in most situations) while static dealers, i.e., websites, stores, shows, can ask for more and it is ok. I don't know why that should be the case.

 

The only one I have to answer to is me (well, and my wife ) when it comes to setting prices.

[CentaurMan]

I have no debate with anything you posted there. I'm a big believer in "to each his own". Of course any seller can set any reserve they feel is appropriate.

 

My discussion is in the context of making Mastro successful.

 

What I have an issue is with the assertion that it's very helpful to get Mastro off the ground by supplying them with books that are unlikely to sell. As we just discussed with Hakes, it can be harmful for an auction house to develop a reputation for displaying inventory priced in such a way that the buyer is very unlikely to get an eventual economic return on his purchase.

 

Mastro does not have that reputation, and if their typical mix of books contains stuff that generally has low/no reserves, then they'll become a must-see auction house. I enjoyed this past auction, and am encouraged by the effort they put into it. But I'd argue all day long that having an impressive list of books for sale which don't meet reserve is almost more harmful than helpful.