Significant Comic Art Auction at Profiles in History 30 July 2016

[aokartman]

Swamp Thing #4 sells for $60,000 plus buyer's premium and tax.

[drdroom]

I just clicked on via Ebay and it appears that most lots are going unsold?!

[drdroom]

Or many, with others going at minimum bid...

[delekkerste]

The auctions PIH is running today are amazing. Congrats to Rob Pistella for bringing in what I personally consider to be the best collection of OA to ever hit the market.

 

Problem is, if you live in CA, want to pick it up or have it shipped directly to you (rather than risking loss by having it shipped to friends or family out of state), and can't bid live to by phone, you're looking at approximately 40% juice in fees and taxes!! 28% BP and 10% sales tax. Ouch!!! That isn't PIH's fault - especially the taxes - but it is keeping me from bidding on a number of pieces. ; (

 

Well, you can save yourself 8% by leaving an absentee bid instead of bidding on Invaluable. I've won several auctions in the past with PIH and have just faxed over my bids in advance (and, no, they didn't run up the lots to my max). Or, you can also just coordinate with someone at PIH in advance to bid on your behalf. To me, that's a much better option than paying an extra 8% to a middleman. That said, the #1 thing that PIH needs to do is to develop, ASAP, their own online bidding platform like Heritage, CLink and CConnect. I'd be much more likely to bid early, often and on a greater number of lots if there was more ease, more transparency and not having to pay Invaluable.

 

The sales tax in CA varies between 7.5% and 10% this year. Looks like most of the more populated areas in the state vary between 8-9%. So, that's 28-29% and not 40% if you absentee bid and are fortunate enough not to live in one of the 9.5-10% sales tax zones. Not great, but it's only 0.5% more than you get with Heritage.

 

Also, I think Mitch misspoke - PIH only levies sales tax on CA residents, not NY residents.

[delekkerste]

Swamp Thing #4 sells for $60,000 plus buyer's premium and tax.

 

Wow, that's not a bad price. $60K plus 20% premium = $72K...sad to say, in this market, there's not much better that you can buy for the price.

[drdroom]

Ok, I found the feed at the bottom of the page, so its really just some of the high ticket items not moving.

[RICKYBOBBY]

When I click on terms of sale it says the premium could be up to 28%?

 

[comix4fun]

Swamp Thing #4 sells for $60,000 plus buyer's premium and tax.

 

Wow, that's not a bad price. $60K plus 20% premium = $72K...sad to say, in this market, there's not much better that you can buy for the price.

 

 

There would have been a "2" in front of the $72k if it were on almost any dealer's wall in San Diego.

[Ghastly1]

"The sales tax in CA varies between 7.5% and 10% this year. Looks like most of the more populated areas in the state vary between 8-9%. So, that's 28-29% and not 40% if you absentee bid and are fortunate enough not to live in one of the 9.5-10% sales tax zones. Not great, but it's only 0.5% more than you get with Heritage."

 

I live in LA County. The sales tax is 10%.

 

[comix4fun]

That Italian Frankenstein movie poster if GORGEOUS!!!

 

 

Jeez...a 4-sheet....78 inches tall!

[Ghastly1]

I counted seven Wrightson lots in the Darabont auction which didn't sell. I believe I saw at least two which were passed on and then sold for the opening bids when they were re-opened, including Frank. plate. Most of the lots I was interested in or at least following sold for the opening bid.

 

Interesting results.

[Peter G]

Who knew there were so many "The 7th Voyage of Sinbad" fans

 

I thought I was the only one

 

$47,500 is a monster price

[delekkerste]

I live in LA County. The sales tax is 10%.

 

I'm not saying 30% is great, but it's only 0.5% more vs. what you'd pay at Heritage if you bid direct and don't use Invaluable. And, it sure beats the 40% number that was mooted earlier.

[Twanj]

yikes, the Frazetta Sea Witch part of the live auction (just turned in again) was about the most awkward, low-t thing I've ever seen.

 

I don't know anything about it, I guess that was wildly too high?

[Peter G]

yikes, the Frazetta Sea Witch part of the live auction (just turned in again) was about the most awkward, low-t thing I've ever seen.

 

I don't know anything about it, I guess that was wildly too high?

 

This whole auction has been sloppy

 

 

[Mmehdy]

On the sales tax issue I believe they had a exhibit of the art in NY I don't know if that would constitute qualifying as doing business in NY... Probably nobody cares anyway... .. My summary is they will never catch ha or even come close if this auction is indicative of future auctions. It is a shame with great stuff.and a lot of mistakes made.

[RICKYBOBBY]

yikes, the Frazetta Sea Witch part of the live auction (just turned in again) was about the most awkward, low-t thing I've ever seen.

 

I don't know anything about it, I guess that was wildly too high?

 

Yah.. It was pretty sad..

[staffman]

yikes, the Frazetta Sea Witch part of the live auction (just turned in again) was about the most awkward, low-t thing I've ever seen.

 

I don't know anything about it, I guess that was wildly too high?

 

This whole auction has been sloppy

 

 

I agree. And it didn't help that it looked like items were selling mostly for the opening bids...if they sold at all. Not a lot of action. Very stagnant.

[glendgold]

It looked like a disaster to me.

[Nexus]

Collectors would rather decide what something's worth for themselves, than be told what it's worth. With all the lots starting at minimums that were (at least) FMV, any bid above that feels like an overpay.

 

But with so many like items, there was no choice but to set minimums to cover their asses.

 

Amongst the collectors I know, there was very little pre-auction excitement. The art was great, but with the minimums and the fees, it felt like most of those collectors would be sitting this one out. There's been talk of "Hollywood money" (outside of the usual OA players) that had interest and would come buying-- as was purported to have occurred during the Frazetta sale a couple of months ago-- but that doesn't appear to have happened this time.

 

IMO, the rather tepid response to this sale had to do with factors other than market fatigue. Let's see what happens at HA this coming week. If they also flop, then we might be seeing a correction in the works. Regardless, an interesting case study today.