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

[Filter81]

 

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

 

Actually I believe Heritage has this record for the Flash 1 9.6 Mile high they sold for $273,000.

[action1kid]

That is true for all comics yes. I was referring only to an Action 1, but that point is well taken

[innocuous]

 

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

 

Actually I believe Heritage has this record for the Flash 1 9.6 Mile high they sold for $273,000.

 

OT - I think this is mentioned in the current issue of Forbes (or is it Fortune). They have an article dedicated to collectibles.

[action1kid]

Interesting. Ill take a look. Thanks !

[Apotheosis]

That is true for all comics yes. I was referring only to an Action 1, but that point is well taken

 

He acknowledged that there are other comics other than Action 1

[lou_fine]

 

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

 

Actually I believe Heritage has this record for the Flash 1 9.6 Mile high they sold for $273,000.

 

OT - I think this is mentioned in the current issue of Forbes (or is it Fortune). They have an article dedicated to collectibles.

 

Most probably in the Forbes magazine since one of the Forbes is a Flash collector.

[esquirecomics]

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.

 

This is certainly an issue that could have a healthy, legitimate, debate on either side of the coin. I certainly would agree with your position over a long term period.

[jkrk]

 

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?

 

My view: (Rather than try to understand the motivation of other sellers) I will price a book at FMV (plus/minus a small vig) on any venue (Ebay, auction house, etc) based on my view of that book (Was the book a weak Vg? Did the writing on the cover bother me, etc?). The original cost is irrelevant. My perception of The current market value is my only benchmark.

 

 

 

 

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).

If I see the same books over and over and the books are overpriced in my view I skip the sellers new offerings.

 

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.

 

Eighty five percent of the FMV works for me. I would love to buy GA books at 85% of FMV. One hundred percent is a different animal and the seller is simply posting an offer rather than auctioning the books..

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.

 

 

Whoever owns the ball makes the rules (sets the price).

[jkrk]

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.

 

 

You are correct. Breaking into a new marketplace costs an auction house money until your reputation is built. I suspect Mastro will need to purchase books themselves to build a solid auction book with lower reserves. It may cost them money early on but it will help them to expand their client base for the future.

[adamstrange]

That is true for all comics yes. I was referring only to an Action 1 ,

 

Maybe that should be in your sig line?

[Apotheosis]

[tth2]

That is true for all comics yes. I was referring only to an Action 1, but that point is well taken

 

He acknowledged that there are other comics other than Action 1

I was going to say the same thing!

[tth2]

 

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

 

Actually I believe Heritage has this record for the Flash 1 9.6 Mile high they sold for $273,000.

 

OT - I think this is mentioned in the current issue of Forbes (or is it Fortune). They have an article dedicated to collectibles.

 

Most probably in the Forbes magazine since one of the Forbes is a Flash collector.

Was he the buyer of the MH Flash 1?

[lou_fine]

 

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

 

Actually I believe Heritage has this record for the Flash 1 9.6 Mile high they sold for $273,000.

 

OT - I think this is mentioned in the current issue of Forbes (or is it Fortune). They have an article dedicated to collectibles.

 

Most probably in the Forbes magazine since one of the Forbes is a Flash collector.

Was he the buyer of the MH Flash 1?

 

Not sure who the last buyer of the Church Flash #1.

 

With respect to Forbes, however, I remember reading an article in a very early issue of CBM written by him (a Steve Forbes, I believe?) reminiscing about his days as a youth and his Flash Comics. He also stated something to the fact that he treasured his Flash Comics as much as his Russian Faberge egg collection.

 

I was just surprised that a Forbes would even be aware, let alone write something for a magazine such as CBM since it must have had the absolute worst distribution in the world. Probably some discarded black sheep member of the Forbes family living off the old family fortune?

 

Probably not the Church Flash #1 since I got the impression from the article that he was really talking about the SA Flash. The tth2 Flash pedigrees that sold in the last Heritage auction might be more closer to the truth.

 

Actually, maybe the lucky consiger who solf off those Flashes should get in contact with Forbes and convince him that JLA is really nothing more than DC's attempt to put out a second Flash comic book.

[linmoth]

Although a little off topic for this thread. I was told that Mr Forbes purchased the OA to Flash 123 in an early Sotheby's auction. With that info I assumed that he also purchased the W PA Flash 123 9.4 White, since our resident ex-Flash collector didn't.

 

Sorry for the intrusion!

 

Tom