Single best profit or loss on a comic deal? 3 3

[romanheart]

I was curious to know what kind of deals the big flippers on this board have had which have been noteworthy in profit gain and/or loss on a comic book deal.

For myself, I have made roughly $100-200 on a deal at most and roughly lost the same when I have sold.

[chrisco37]

What do you consider a "flip"?   Is it just a resell of a book at anytime?  Or is it a resell within a week/month?   I've sold books that I bought long ago for pretty good profit (double my initial cost).   Same with art.   But those are usually long term holds.  

For example, I bought my AF15 4 years ago.  Pretty sure I could double my money on it if I were to sell it now.  Would that be considered a flip?    

[NoMan]

Good question for answering this particular thread and in general: 

What is a flip?

is it a matter of time holding a book for sale, or... ?

Edited September 8, 2017 by NoMan

[Junkdrawer]

+19k on 1 book. Took 4 months from purchase to payday. Timing of auctions was a factor in addition to some work that needed to be done to the book. 

[romanheart]

Not just a short term flip, but long term investments as well.

[Michelangelo]

$1100 was my biggest profit... I don't flip much anymore

[Transplant]

More proof that the boards have little to do with collectors anymore.

[ygogolak]

2 minutes ago, Transplant said:

More proof that the boards have little to do with collectors anymore.

This board is here because of a grading company. Are a majority of people getting books graded just for their PC?

[jsilverjanet]

percentage or $ amount?

The key is percentage in my opinion

[namisgr]

I bought a book for 25 cents and sold it 35 years later for $6000.  Of course, my cost to have the comic slabbed far exceeded what I originally paid for it.  Does that make me a flipper, too?

[comicquant]

1 minute ago, jsilverjanet said:

percentage or $ amount?

The key is percentage in my opinion

Has to be based on percentage...

[namisgr]

4 minutes ago, comicquant said:

Has to be based on percentage...

Percentage of what?  The cover price of the comic, or the total costs to the seller, including slabbing and anything else, like pressing?

Harry Tracy/Burntboy bought his Showcase #4 and Fantastic Four #1 for a dime each.  It'll be hard for anyone else to top his percent return on those.

Edited September 8, 2017 by namisgr

[comicquant]

Just now, namisgr said:

Percentage of what?  The cover price of the comic, or the total costs to the seller, including slabbing and anything else, like pressing?

Total cost of the book as a percentage of the current value or sale price.  Probably should factor duration of ownership as well.  Someone who bought their 9.6 AF15 off the rack probably shouldn't compete...

[namisgr]

1 minute ago, comicquant said:

Someone who bought their 9.6 AF15 off the rack probably shouldn't compete...

Now those would be the stories that I'd be most interested in reading.  

But I know what you mean.

[Artboy99]

Paid cover price for a Hulk 271. Held it for years only because it was part of my complete Hulk run. Then when I broke up the run I threw the book into my dollar box and thought I would be lucky to get that dollar. Then suddenly the Raccoon is popular and the book jumps in price to over a hundred bucks and some guy pulls the book from my dollar bin and walks off with the profit.

Always hated that book.

I guess this story isn't that bad depending on your perspective. Hey I made 40 cents!

Edited September 8, 2017 by Artboy99

[comicquant]

Just now, namisgr said:

Now those would be the stories that I'd be most interested in reading.  

But I know what you mean.

One of my favorite aspects of the boards is hearing the back stories about book ownership.  There are members of the board who can trace books through decades of exchanges!

[october]

17 minutes ago, jsilverjanet said:

percentage or $ amount?

The key is percentage in my opinion

Really? I feel the opposite. You don't fill your wallet with percentage points. I would rather buy a book for $1,000 and sell it for $1,200 than buy a book for $1 and sell it for $50.

Edited September 8, 2017 by october

[romanheart]

41 minutes ago, Junkdrawer said:

+19k on 1 book. Took 4 months from purchase to payday. Timing of auctions was a factor in addition to some work that needed to be done to the book. 

May I ask what book you sold?

Some of you are a little sensitive about the 'flip' word. I know there are some who are primarily investors on the board so I was curious on your success.

Edited September 8, 2017 by romanheart

[comicquant]

1 minute ago, october said:

Really? I feel the opposite. You don't fill your wallet with percentage points. I would rather buy a book for $1,000 and sell it for $1,200 than buy a book for $1 and sell it for $50.

Say a 9.8 Cap Comics is discovered and it sells for $10M then the buyer sells it a decade later for a $100k profit...  As a percentage gain over time from a profit perspective, its a fart in the wind.  If that same person said "Hey I made $100k profit today", some may think its outstanding.  

[jsilverjanet]

7 minutes ago, october said:

Really? I feel the opposite. You don't fill your wallet with percentage points. I would rather buy a book for $1,000 and sell it for $1,200 than buy a book for $1 and sell it for $50.

I'd rather spend $1.00 and sell it for $1000.