Heritage Platinum Session: changing the way auctions will be conducted for GA/SA 1 1

[Mmehdy]

I know lot of you got the stand alone Platinum session catalog from upcoming Ha auction. " The last platinum session we held in may 2017 averaged over $50,000 per lot with records falling left and right".

 

 My opinion is this is gonna be the new "trend" in auctions and its a disaster for EVERYBODY. Having a separate day just for the big stuff ( 10K and up)  and no longer lumping together with all lots combined. This leaves the "little" guys at a total disadvantage.  The big fish will only be focused on that auction day. They will be gone, and not have to sit thru your lot to get to the next big fish and buy something along the way, or say he thats cool. This is totally unfair to 90% of the sellers, whom will lose some the bidding pool in the process. Further, they have a day to think about the purchase from platinum and get tight about  spending  and say, that's it I am out or its not worth it to sit thru another day...instead of getting caught up the the "high" of the purchase and buying more at the very auction you win something with all items combined. Anybody who has "won" a lot knows that good feeling and the desire to buy more.

 I know we are all on different budgets....but to separate the haves and the have nots...also limits YOUR VALUE or RETURN by saying your item is not good enough or worth enough to be in the Platinum auction which is FIRST in line for the money pool. This devalues your ceiling by implication. Now that they have received a record  price number and interest, who will be next.

 I for one, believe in the "old auction process"..that each and every lot should be treated with respect and NOT create a second class citizenship based on subjective value of the auction house.

 Your thoughts would be appreciated , thank you.

 

[batman_fan]

I don't think it will matter much.  People will watch what they have always rewatch and bid on what they bid on.

[HRCostigan]

Most sellers are also buyers, so it evens out IMO if the hypothesis is that lower prices result.  Every auction house already has tiers anyways with the big auction happening roughly each quarter.

[tth2]

Thanks to Mitch's very helpful post, I now realize that if I am interested in items that are worth $50K or more, I should not have any interest in items that are less than $50K.  This will greatly simplify my life and free up so much time.  Also, improve my health because I'll know longer be picking all kinds of diseases from mixing with the plebs. 

Lots that are worth $49,999 or less?  Thanks to Mitch, I now spit on you! 

[Mmehdy]

1 hour ago, tth2 said:

Thanks to Mitch's very helpful post, I now realize that if I am interested in items that are worth $50K or more, I should not have any interest in items that are less than $50K.  This will greatly simplify my life and free up so much time.  Also, improve my health because I'll know longer be picking all kinds of diseases from mixing with the plebs. 

Lots that are worth $49,999 or less?  Thanks to Mitch, I now spit on you! 

I am simply making a point, and by the way its 10,000 and over to qualify for the auction, that this is a special attempt to make a SEPARATE auction a day early and it does change things up. In no way am I suggesting that items under 10K are not valuable and in some instances better, I just think it very interesting that this is the way auctions are headed and as the great Bela Lugosi once classically stated in "Glen or Glenda"  ...BEWARE....

Edited November 13, 2017 by Mmehdy

[Pickie]

4 hours ago, Mmehdy said:

Your thoughts would be appreaciated, thank you.

The two groups in question are, if at all, already existing: comic art lovers (with those "above" 10k who will always be watching out for the "under" 10k items as well) and pure "investors" with no or only small fandom history, who've always been finding their "goals" either way?

Another thought: In the unlikely event that someone can't already read a foreign language, go ahead and learn one and buy golden age comic books in Europe: ridiculously cheap in comparison and with unbeaten paper and printing quality for Barks books to boot, for example.

 

[szav]

5 hours ago, Pickie said:

The two groups in question are, if at all, already existing: comic art lovers (with those "above" 10k who will always be watching out for the "under" 10k items as well) and pure "investors" with no or only small fandom history, who've always been finding their "goals" either way?

Another thought: In the unlikely event that someone can't already read a foreign language, go ahead and learn one and buy golden age comic books in Europe: ridiculously cheap in comparison and with unbeaten paper and printing quality for Barks books to boot, for example.

 

I guess it's too bad I took 3 years of Latin in high school and not a language that comic books were printed in...

Also as to the OPs point... I wouldn't be too worried as a consignor with the change.  Pretty sure the 3-4 months advance notice in emails catalogues, etc. and the 3-4 weeks of internet bidding is sufficient time for people to notice the books I'm  selling.

Edited November 13, 2017 by szavisca

[TheWatcher]

HA has been doing Platinum Night on the coin side for a while now. Hasn't impacted prices in any negative way that I've seen 

[Sqeggs]

There are a number of books, probably the majority, in this session that might clear $10K, but won't sniff $50K imo.  I don't think Peanuts 1 CGC 8.5, Shadow Comics 1 CGC 9.0 (Church), Showcase 23 CGC 9.0, or Sub-Mariner 1 CGC 7.5, for example, are close to $50K books.  There are bunch more in the same category.

And haven't they always put most of the prime stuff in the first day of the auction?  Deals, from the buyers' point of view, or low prices, from the sellers' point of view, seem to come on the last day, if they happen at all.  

 

[ThothAmon]

I picked up one book in the last platinum auction. Didn’t clear the $10k mark much to the dismay of the consignor.  I would bet that a few consignors were unhappy with the timing (weekday, mid afternoon) of the last platinum auction as well. I know at least one happy buyer though!

[Mmehdy]

Lets take, for example, the best "buy" in this auction. I think we all can agreed that the stunning Shadow Comics #1 MH with first doc savage and shadow etc is flat out beautiful. Nothing on the census comes close in terms of condition and this is a true rarity in the condition that it stands and it is undervalued in general.. However, it somewhat gets lost among the big boys such as the crumb sketchbook, ASM1 etc...again this is my opinion, its just does not seem fair. But in the GA section it would clearly be a standout.

Edited November 14, 2017 by Mmehdy

[Sqeggs]

On 11/14/2017 at 12:54 PM, Mmehdy said:

Lets take, for example, the best "buy" in this auction. I think we all can agreed that the stunning Shadow Comics #1 MH with first doc savage and shadow etc is flat out beautiful. Nothing on the census comes close in terms of condition and this is a true rarity in the condition that it stands and it is undervalued in general.. However, it somewhat gets lost among the big boys such as the crumb sketchbook, ASM1 etc...again this is my opinion, its just does not seem fair. But in the GA section it would clearly be a standout.

I'm with you on Shadow Comics being underappreciated, but I don't think this book would make it to $10K however it was auctioned.  I guess we'll see tomorrow how well it does this time. 

[tth2]

3 hours ago, Sqeggs said:

I'm with you on Shadow Comics being underappreciated, but I don't think this book would make it to $10K however it was auctioned.  I guess we'll see tomorrow how well it does this time. 

Yeah, especially being a 9.0.  That will take it completely out of consideration for some bidders. 

Same thing with the #5 in the auction, also a 9.0.

Edited November 16, 2017 by tth2

[lou_fine]

4 hours ago, tth2 said:

7 hours ago, Sqeggs said:

I'm with you on Shadow Comics being underappreciated, but I don't think this book would make it to $10K however it was auctioned.  I guess we'll see tomorrow how well it does this time. 

Yeah, especially being a 9.0.  That will take it completely out of consideration for some bidders. 

Same thing with the #5 in the auction, also a 9.0.

Also doesn't help that it's from a 3rd tier publisher like Street & Smith that is not highly collected by the big money collectors.  This particular issue of Shadow Comics also doesn't sport a classic cover image which is all the rage in the marketplace nowadays. 

[ThothAmon]

Just checked prices for the platinum session and they seem quite healthy. I paid $9600 for a tec 8 cgc8.0 in the last platinum auction and the mile high cgc 8.0 is now at $22k!  The shadow comics 1 (nothing special  cover) is Now close to $11k with buyers premium. Lots of great books for platinum prices. 

[Sqeggs]

16 hours ago, Sqeggs said:

On 11/14/2017 at 12:54 PM, Mmehdy said:

Lets take, for example, the best "buy" in this auction. I think we all can agreed that the stunning Shadow Comics #1 MH with first doc savage and shadow etc is flat out beautiful. Nothing on the census comes close in terms of condition and this is a true rarity in the condition that it stands and it is undervalued in general.. However, it somewhat gets lost among the big boys such as the crumb sketchbook, ASM1 etc...again this is my opinion, its just does not seem fair. But in the GA section it would clearly be a standout.

I'm with you on Shadow Comics being underappreciated, but I don't think this book would make it to $10K however it was auctioned.  I guess we'll see tomorrow how well it does this time. 

Another of my predictions sure to go wrong:  The book is currently at $10,755 (with BP). 

[G.A.tor]

my only question is why are there 2 exact same threads going...maybe a mod can merge them ?

[Sqeggs]

I can't remember an opening session with so few books in it.  I think in the past they've led with an OA session, but if they start with a comic session it usually has more books than this.  I realize the strategy is to focus on the key books, but still seems a bit odd to me.

[Mmehdy]

4 hours ago, Sqeggs said:

Another of my predictions sure to go wrong:  The book is currently at $10,755 (with BP). 

I other book I liked was the Terry Toons  38 with the first Mighty Mouse...the possibility of some movie down the road or more likely cartoon series. Again that is on Friday and its under still under guide price, not on the big auction, but a super neat cover and 9.0 but another sleeper is Western Picture Stories #4 Mile High 9.4 white pages, 1937...just like getting in a time machine going  over 80  years back and coming back to 2017..wow and its at about guide price still today.

Edited November 16, 2017 by Mmehdy

[atomised]

The HA guys had a table at SF comic con last year and we just chewed the fat about a number of things.  They started talking about the Platinum session for books that they were just about to roll out or had recently rolled out, I don't remember.  Part of reason they created that session they told me was for them to roll some of their other customers from their other business verticals into a more curated high end book event that they could participate in without having to know a lot about books or having to select from a bigger pool of books.  So basically to market that session to their whales that are buying in other categories at HA.   They specifically said that was the bulk of the thesis of why they did it.

Edited November 16, 2017 by atomised