I was talking about the average, i.e. if you could buy an average page from an average book in 2000. I stand by the statement, but admittedly don't want to run the numbers. For basic context, the top-selling book in July 2000 was Spawn #100. If you bought every page from this issue at the time and sold them today, I think it would provide a modest yearly return, which was what I said.
Also, you seem to agree with me, because later in this post, you said:
Which supports my opinion that learning through losing is critical. As evidenced by your anecdote that you lost money for most of the 90s then bought wiser at the turn of the century.
Also, I'm not sure what paying the rent has to do with your approach when it sounds like you had a full time job (plus overtime) to invest in comic art. I was trying to point out the very difference between buying and selling art for a profession and buying and selling art as an "investment." Those who have to pay rent with the money are professionals. Those who invest and reinvest and take a profit from their art purchases are investors. It's the insularity and size of the comic art market that means that only a few people can be the former.
Here is the last point we seem to agree on, but you say it like a disagreement, maybe because my point was unclear. Once the price has increased through sales and resales, the value decreases because a profit was taken out with each transaction. You and I don't need to pay rent from comic art sales, but Heritage and Moy and eBay, et al. definitely do. As the market price stabilizes, the opportunity for arbitrage (therefore profit) disappears. Which is why I listed some ways I believe a younger collector than you or I can buy for value while enjoying their hobby. Part of the reason I name-checked and noted Felix and his artists often in the article is that it is the closest you can get to buying directly from these artists when their newest art is released at a fair market price, with only one level of profit extracted. This is a much better time to buy if you love these artists than if the art gets resold later.
Thanks again for reading and adding to the conversation.