(attempted) Flip of the Day!
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7 minutes ago, grapeape said:

If I’ve missed any redistribution values or mark up values please post a response and I’ll reconfigure  my calculations.

Yeah you missed the coming (or at least proposed by some) Federal Wealth Tax to be applied annually, similar to RE property tax but for everything else they haven't valued (yet).

Another tax. Joy ;) . Every year. So the longer you hold, the more you pay, likely ratcheting up over time as values go up but without a deduction for real inflation (not COLA...please!)

But also a privacy issue.

And godforbid what the penalties would be for - evasion, avoidance, under-reporting, misreporting, or just plain LYIN' and the old standby: failure to file.

I think somebody runnin' for sumpthin' and promisin' lotsa freestuff to voters musta seen Mike's digs last party ( lol ) and a lightbulb went off.

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from:

 

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3 hours ago, grapeape said:

I flipped a page to an auction house two years ago. True story I was in the dentist chair getting a crown done. During breaks from this fun procedure I tracked and won an eBay auction for a Gil Kane page all Spider-Man paid $1500. On my I phone.

it was a neat page and I was sure it was worth more than I paid for it. I showed it to a few reps from an auction house at a con, they begged me to list it. “We need a really strong Spider-Man example and we think you’d do well,” they told me.

I began testing the waters. I wound up getting them so worked up I negotiated them buying the page outright from me.

$3000

i doubled my money.

Then I sweated it out. What if this page goes for $5-6k? I waited.

Auction day I held my breath. I was also worried what if it sells too low? and the auction house gets ticked at me.

It went down....a few dollars over what I originally paid about $1550. The auction house lost money.

With all the info out there I recommend you do your research before buying. Many times you can find what a piece recently sold for. Helps you decide how bad do I want this page? Should I pay more than the last known sale price?

That in general is how you guys have been identifying and reporting the FLIP OF THE DAY.

Now it goes both ways. Guys like Mike Burkey are lightning quick to replace a dollar price with SOLD. That’s good for the buyer. When he goes to sell only those who paid attention will remember the last sold price value.

I was hurt when I found a 80’s  Carmine Infantino interior page with Batman wiping the floor with a super villain. I overpaid $1500 but I believe I had some meat on the bone if it was seen at auction. I listed it and it sold for $1556 so a net loss paying auction fee.

What hurt me is the small comic hobby shop I bought the piece from refused to take the sold piece down or remove the price and show as sold. I’m positive sharp collectors searched the internet for the original art page and found the price I paid for it.

So as a buyer I like guys like Romitaman that take away the price once sold.

As a seller I’m at a disadvantage if the website I bought from does not remove that sale price. 

Ive benefited both ways but I had to learn the hard way. What works for you can also work against you.

I’ve never in my life flipped to an uneducated rube. There were times where I was hounded for a piece that was clearly marked NFS on my CAF. I’ve also been hounded by dealers when they go through my portfolio.

With dealers I expect they know their field. So I go to war accordingly.

With someone contacting me about their grail, I gotta have it please sell it to me and so on I think about my NFS piece.

Is there any reasonable price I would take? If not I politely decline and offer the obligatory olive branch. 

“Yes I will contact you if I ever decide to sell.”

If I do decide to throw out a sales price I use the following formula to determine the price.

NFS x ( LTR) x FMV = BASE $ (5)

or

Not for sale multiplied by Learn to Read multiplied by Fairmarket value = my base valuation multiplied by five.

NFS valued at 1 LTR valued at 1

So my FF 200 page FMV $2500

1 x 1 x $2500 = $2500 x 5 = $12500

So my unsolicited base is $12500

Subject to Los Bros inquire tax = 3 x FMV or 3 x $2500 = $750O + $12500= $$20000.

Now apply a 10% artist tax for the artist so 

Keith Pollard $2000

Joe Sinnott $2000

Now a Future gains reward tax 50% goes to Profiles in History who sold me the page twenty years ago. I paid them of course but they deserve more because the page wound up being worth so much more than I paid them.

That’s $10,000

You still with grape-ape?

$20,000 - $2000-$2000-$10,000=$6000 

 

If I’ve missed any redistribution values or mark up values please post a response and I’ll reconfigure  my calculations.

🍇.  🦍

Is the artist tax for Sal Buscema positive or negative?

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1 hour ago, Rick2you2 said:

Is the artist tax for Sal Buscema positive or negative?

That’s one for the boardies Ricky lol 

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5 hours ago, Rick2you2 said:

Is the artist tax for Sal Buscema positive or negative?

Since I have it on high authority he is the definition of average....it’s neutral.

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6 hours ago, zhamlau said:

Since I have it on high authority he is the definition of average....it’s neutral.

awwww...even I'll admit that Sal had his moments; it just wasn't apparent from about 1985-present, that's all.

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4 hours ago, vodou said:

awwww...even I'll admit that Sal had his moments; it just wasn't apparent from about 1985-present, that's all.

Sir, the market has spoken. 

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6 minutes ago, zhamlau said:

Sir, the market has spoken. 

Greater fools...abound. I make my living supplying them :)

That doesn't make late SalB better art though lol

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50 minutes ago, vodou said:

Greater fools...abound. I make my living supplying them :)

That doesn't make late SalB better art though lol

Ok, you came 1/2 way to right think so I will allow it...this time...

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5 minutes ago, NicoV said:

Swamp Thing first splash page from $25,600 to $35,000 in 2 months :flamed:

 

 

Mike usually goes straight double, so maybe even  his confidence is a bit shaky here?

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2 hours ago, vodou said:

Mike usually goes straight double, so maybe even  his confidence is a bit shaky here?

I know you are just making fun, but my personal experience selling to Mike was ... he bought for around 3K, and immediately listed for around 4K.  That's not huge, but when applied to 25K, it goes to over 30K, so this citation is not really an outlier.  My piece changed hands a few times with a recent sale around 10K.  Best, David

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2 minutes ago, aokartman said:

I know you are just making fun, but my personal experience selling to Mike was ...

I'm not making fun. That's my actual observation over the years of pieces I've followed that went from public venue to his site - 100% markup.

But visible margin compression among one of the biggest dealers (measured by annual transaction quantity, dollar amount, and inventory) is notable imo.

As identified though, my anecdotal following of some public sales going from A to B, and no private sales I'm not part of, is highly unlikely to represent the full scope of Mike's mark-up plan. All good!

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8 minutes ago, Rick2you2 said:

Pretty stiff mark-up. I guess he operates in a really high sales tax state.

Most dealers have tax exemption. 

Another from August: https://comics.ha.com/itm/original-comic-art/splash-pages/jack-kirby-and-mike-royer-captain-america-211-splash-page-1-original-art-marvel-1977-/a/7192-93148.s

http://www.romitaman.com/GalleryPiece.asp?Piece=23174&ArtistId=921

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On 9/19/2019 at 12:28 PM, vodou said:

I'm not making fun. That's my actual observation over the years of pieces I've followed that went from public venue to his site - 100% markup.

But visible margin compression among one of the biggest dealers (measured by annual transaction quantity, dollar amount, and inventory) is notable imo.

As identified though, my anecdotal following of some public sales going from A to B, and no private sales I'm not part of, is highly unlikely to represent the full scope of Mike's mark-up plan. All good!

That margin lets him cut the actual price by, say, 10% or more, account for the equivalent of interest, and still make money. 

What is disturbing is the number of people who buy the OA at the higher prices.

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2 hours ago, AnkurJ said:

Most dealers have tax exemption.

I dunno Mike's state but many have sale exemptions that expire at the end of tax/calendar/rolling12m year. You either flip it quick and produce (collect) stepped up sales tax on behalf of the state from your customer or you pay it yourself against your basis.

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2 hours ago, Rick2you2 said:

What is disturbing is the number of people who buy the OA at the higher prices.

It would be if it actually happened as much as we're lead to believe. Appearances can be deceiving lol

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