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re-buying stolen Marvel keys: resources/advice?

Started by Flint Ironstag,

16 posts in this topic

Flint Ironstag

Flint Ironstag

Posted
Posted

Hey Crime-stoppers,

Last year I discovered a major theft from my house of several boxes containing most of the Marvel key books from the 1960s: Amazing Fantasy 15, Fantastic Four 1, Journey Into Mystery 83, Tales of Suspense 39, X-Men 1, Spidey 1, Strange Tales 101 and 110, Avengers 1, Conan 1, Daredevil 1, and many/most of the early lesser keys as well. Grades ran from the sublime: an honest to gosh NM Avengers 1 and beautiful copies of JIM 83 and ASM 1... to the mundane: G-VG copies of FF 1 and AF 15 (still nice books!).

 

I referenced it in this thread a while back:

 

http://boards.collectors-society.com/ubbthreads.php?ubb=showflat&Number=7173910&fpart=1

 

Last year, the police advised me to file with our insurance, stating that the insurance company would assign an investigator, and that would assist the police's investigation. They didn't! But, it looks like some sort of settlement might be coming of it, after a year of being interviewed by adjusters, and providing an examination under oath to their lawyer, and waiting (thinking they might be going after the likely thief/thieves... they weren't!).

 

Here's where I'm seeking the input and advice of those of you still immersed in the hobby!

 

I completed my silver age Marvel runs about twenty years ago, and have been buying original art since then. My background of buying silver age comics is based on my childhood to mid-twenties experiences, and what the market was like then. Things have changed!

 

When I filed the insurance claim, I used Overstreet to assign current values to the books. Looking at ebay (new and completed auctions), auction sites like Heritage and Comiclink, and dealer's sites like Metropolis, I'm not finding the key books going near Overstreet territory... they seem to be over guide.

 

The insurance company's initial offer applies depreciation to the collection of about a third of assigned value... because they believe that buying enough of them at once, I'll replace these key books at 66% of guide. Does this sound likely to you? lol

 

So!

 

1: Anybody out there... perhaps wanting to divest from the hobby... who would like to sell a lot of silver age Marvel with no seller's premiums, dealer's commissions, ebay fees, paypal extortion, or risk of being swindled? Let's talk!

 

2: If you were in my position, what resources would you pursue? Now that everybody has access to an international market (I'm in Massachusetts, BTW) via ebay and the web, it doesn't seem like dealers at conventions would be terribly motivated to move key books at terrestrial prices anymore, but maybe I'm wrong.

 

What's the best way to re-buy my Marvel keys and early runs?

 

Thanks for reading!

Pax,

Sean

 

 

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ChrisInBaltimore

ChrisInBaltimore

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The hunt might be fun again!

 

I'd focus on one run at a time and know it might take a long time. I'd focus on the one big key and then slowly fill in the rest.

 

Awful to hear that someone stole your books. As my kids get older, the fear is going to grow and I might need to invest in a safe. I'm not saying it is a fear of my kids, but the friends they'll have in and out of my house.

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telerites

telerites

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This is another reason I am so glad I have collectinsure for my collection. Peace of mind dealing with an insurance company that understands the collectible's market. Hopefully I will never need to call them into action but still knowing is well worth it.

 

Are you saying that you have settled now with your insurance company at 66% of guide?

 

If negotiations (so to speak) are still ongoing, why not use GPA to show them values of recent sales which is a reputable source which is derived much differently than a yearly publication with little vetting like OSPG.

 

Hopefully you have scans of your books to at least give an idea of grade. You've evidently already used other sources so this may not be helpful given your insurance doesn't want to pay you near what they are worth.

 

I assuming you didn't have a rider on your insurance and this is just your normal homeowner's policy?

 

 

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blazingbob

blazingbob

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Sounds like you have a bad insurance company.

 

I just provide a Collector's insurance agency with an appraisal of a key that was stolen and it wasn't 66% of guide.

 

And dealers aren't able to buy keys at 66% of guide, not sure why you would be able to. Not sure of too many "collectors" who would sell you them at that price either.

 

 

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passion4comics

passion4comics

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Key books don't "depreciate" and if a 2014 OSPG says a price, then that's the price. They are just hoping you bite at 66%. Insurance companies don't make money by paying out claims.

 

FYI- That deposition under oath to their lawyers was not for your benefit. More than once after something like that I've heard of people being indicted for fraud even when their burglaries and car thefts were legit. It's a way they can avoid paying a claim.

 

What insurance company do you use because I want to make sure not to use them. It sounds like a State Farm move, but that's just a stab in the dark.

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Loukayza

Loukayza

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There's a good portion of my collection that I'd be thrilled if anyone gave me 33% of guide for, let alone 66%. Seems like a fair settlement unless your complete runs were all high-grade.

 

Talking to a lawyer might help but it seems like you're OK with the 66%.

 

I'd probably just move on and keep collecting art like you've been doing, just buying some of the keys, because anyone willing to sell you complete runs now will probably want to charge you a lot more.

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piper

piper

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To echo Bob's point above, most (all?) marvel keys appear to be going for a premium.

 

If you're serious about re-buying the keys, you need to invest in a copy of GPA. Even then some of the hotter books will price higher than the average historical values listed.

 

I'd also recommend checking out the SA forum, as they can provide guidelines for pricing and suggest buying/auction venues.

 

Good luck!

 

 

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Jaylam

Jaylam

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I know it's too late now, but if you go about amassing your collection again, buy a separate Collectibles Insurance policy, especially if you have high value and/or CGC graded books. You can buy a policy for whatever dollar amount your collectibles are worth and change it as your collection's value changes each year. Worthwhile to have an inventory database somewhere of course too. If you still currently have art, I'd get that insured immediately. As you have found out, your homeowner's or renter's policy will only go so far in protecting your assets on stuff like this. Myself, I have a policy with Collectibles Insurance Services, LLC. There are others out there too that I'm sure can be found browsing the internet.

 

 

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Phantalien

Phantalien

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If this is what you want to do. It may be more fun to track them down as you want them. I am sure that the hardest things to get back are the high grade ones. The only thing that it would do is allow you to get higher grades of other ones.

 

Good luck!

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