Geppi's $1,000,000 reward for NM Action #1 (2003)

[The Black Hand ®]

I wouldn't blame someone for not wanting to CGC a 9.2 or better Action 1 or Tec 27. Shaken slab syndrome, even if the book is traveling with you, is still a possibility. Even damage during the slabbing process is possible. I think the dentalguy is wise to keep his raw.

[bluechip]

Wish I'd known about this offer at the time. I might not have sold my near mint copy for half guiide to that dealer.

[action1kid]

Can you even get 1/2 guide on an FFE. ???/

[lou_fine]

H e kept the Action 1.

 

Whatever happened to his nice copy of Detective Comics #1?

 

Did that little beauty end up at one of the auction houses also?

[action1kid]

I think that was the Unrestored 6.0 Steve L . had ?

[detective35]

Just verifying what "action1kid" said, that Dan Kramers Action 1 is an 8.5. Not sure if Danny was offered that, but you could call him and end all speculation (however he might not tell you either way).

I remember Steve calling me right after he visited D.A. and saw the Action 1 MH, and Tec 27 (before he was with the CGC). He mentioned that the Action 1 was killer and had Church written on it, From what I remember NM or NM- was close (but don't quote me). However, I remember Steve and other people who had seen the Tec 27, saying it was like the other Allentown Detectives (at that time NM+). However I heard from someone else who had seen the book, that it appears to be in the 9.6 range, but of course with neither book being CGC'd, this is purely speculation.

[lou_fine]

I think that was the Unrestored 6.0 Steve L . had ?

 

A1K;

 

Thanks for the info!

 

Would have expected the book to have graded out as a F+, but I guess the small piece of tape at the bottom of the interior front cover didn't help it. Still not a bad grade for a 'Tec 1 and probably one of the higher graded unrestored copies out there.

 

Any idea if Lauterbach still has the book or the approximate price he had sold it for?

[action1kid]

6.0 cgc unrestored is an OUTSTANDING grade for a Detetective # 1. Absolutley outstanding grade !

[lou_fine]

6.0 cgc unrestored is an OUTSTANDING grade for a Detetective # 1. Absolutley outstanding grade !

 

A1K;

 

Would absolutely agree with you that this is indeed an OUTSTANDING grade for an unrestored copy of Detective Comics #1!

 

What would your guessitimate be as to the estimated value of this copy in today's market?

 

I assume we should ignore the OS valuation which has it listed at just over $27K in this year's guide. Especially considering that OS had it listed at a whopping $25K way back in the 1996 guide. Now, isn't that an amazing return on this HTF in demand gem!

[action1kid]

75K TO 100K. Alot of Goldenage collectors have a PASSION for this book[im one of them. The bidding would be very passionate. Its scarce in any condition.Its very scarce and I mean very scarce in unrestored condition and it is outright Gerber 10 in 6.0 and up unrestored condition, and alot of us know this.This book would sell at quite a few multiples.

[ciorac]

Just verifying what "action1kid" said, that Dan Kramers Action 1 is an 8.5. Not sure if Danny was offered that, but you could call him and end all speculation (however he might not tell you either way).

I remember Steve calling me right after he visited D.A. and saw the Action 1 MH, and Tec 27 (before he was with the CGC). He mentioned that the Action 1 was killer and had Church written on it, From what I remember NM or NM- was close (but don't quote me). However, I remember Steve and other people who had seen the Tec 27, saying it was like the other Allentown Detectives (at that time NM+). However I heard from someone else who had seen the book, that it appears to be in the 9.6 range, but of course with neither book being CGC'd, this is purely speculation.

 

yes, but it is wonderful speculation. I enjoy imaging seeing a 9.6 Detective 27!! How glorious would that be?

[swapto]

excuse my ignorance, but what is the deal with the 'gerber rating'?

 

gerber 9?

gerber 10?

 

please explain.

 

[ciorac]

excuse my ignorance, but what is the deal with the 'gerber rating'?

 

gerber 9?

gerber 10?

 

please explain.

 

 

Ernie Gerber assigned scarcity rankings to each comic in the PhotoJournals. 5 and under were farily common, 6 and up were scarcer. 8, 9 and 10 were supposed to be scarce as Hen's teeth.

[stagedoorjohnny]

75K TO 100K. Alot of Goldenage collectors have a PASSION for this book[im one of them. The bidding would be very passionate. Its scarce in any condition.Its very scarce and I mean very scarce in unrestored condition and it is outright Gerber 10 in 6.0 and up unrestored condition, and alot of us know this.This book would sell at quite a few multiples.

 

You really think so? Didn't the Lost Valley copy, which I believe is a blue label 6.5, sell for $47K within the last three years? I heard Geppi bought it, am I off here? I don't think that I am if my memory serves me correctly. That would be quite a return on your money and jump in price.

[action1kid]

3 years is a long time and thats what it went for on that particular day.The hobby is more aware of now how rare an unrestored Tec # 1 really is and with this particular book 6.0 is high grade.I generally make comments based on what Im willing to pay.I would pay 75k for a CGC graded unrestored copy of Tec # 1. I think there are enough people interested in this near one of a kind item to push it beyond that.

[Aman619]

I think its a cool book.

I think its very scarce in decent grade.

I think a lot of collectors want a copy.

But I dont think its a great place to park 100K.

[action1kid]

Why did you jump right to the high end. I said 75 to 100k.

Its just impossible in 6.0. Your fine if you hold it for 5 years. If your a flipper, than maybe your right Aman. Solid book investment wise for the long term.

[action1kid]

Metro did sell a 4.5 ungraded unrestored Tec 1 to a board member for around 30k 2 or 3 years ago. So add in time appreciation, a jump from 4.5 to 6.0 and than the book being certified by cgc as unrestored 6.0 , I think im right there with 75k and maybe more.

[action1kid]

Another thing to consider is that there is no Herald high grade Mile high copy in this catagory of Tec 1.....The Mile high copy here is a lowly 4.5 copy. So with a 6.0 you are very near owning one of the very best copies at 6.0. Thats very impressive indeed !

[G.A.tor]

hello all...

I believe S from Metro last month posted that he sold an unrestored VF+ tec 1 recently?...that is a book I would love to see...and, I have read every Overstreet market report from 1972 to present, and there are many, many sales of VF to Mint (fun word) Tec 1's reported through the years ...now, it might be the same few books changing hands, and it might be that many of them are by today's detection standards indeed restored (not necessarily always noted back then, as Peter said, the 80's and 90's are long gone, but the 70's are even longer gone!)....

so, I suspect that a Gerber 9-10 rating for a true unrestored tec 1 is likely supportable....I think that the 3.0 on Heritage will go into the 20K's (given that an extensive 7.0 just went past $17K 2 months ago), so to say that a 6.0 will break $75K is likely very realistic, but who knows, the players change, and so does the game with them...

gator