Hake's Feb Auction Detective #27 CGC 5.0 1 1

[maraxusofkeld]

Did anyone see that Hake's will have a Detective #27 CGC 5.0 offered in their Feb 20th auction? No link available yet, they just have a banner at the top of their page.

[Gotham Kid]

 

[Junkdrawer]

Imagine if it were possible we could create a group/syndicate where everyone in said group contributes equally the same amount of money and we all bid and win it. Knowing you own a % of it legally would be pretty neat. Lots of issues and details to work through for sure, but I did say imagine. 

[bluechip]

16 minutes ago, Junkdrawer said:

Imagine if it were possible we could create a group/syndicate where everyone in said group contributes equally the same amount of money and we all bid and win it. Knowing you own a % of it legally would be pretty neat. Lots of issues and details to work through for sure, but I did say imagine. 

There have been such investment groups for some time now.   I first heard of one many years ago.

[Junkdrawer]

4 minutes ago, bluechip said:

There have been such investment groups for some time now.   I first heard of one many years ago.

I’m sure there are. I know it’s quite common in the racehorse biz. I was thinking about a group from here. In my imagination anyway. I’d love to know more about the whos and what and hows. What do ya got?

[Hudson]

42 minutes ago, Junkdrawer said:

Imagine if it were possible we could create a group/syndicate where everyone in said group contributes equally the same amount of money and we all bid and win it. Knowing you own a % of it legally would be pretty neat. Lots of issues and details to work through for sure, but I did say imagine. 

I like this idea in general.   

 

Would consider it for an Action 1.  

[Dark Knight]

Soo who were will start an investment group for the book? 

[jhm]

11 hours ago, Dark Knight said:

Soo who were will start an investment group for the book? 

This is tricky business (to put it mildly). How do you agree on a buy price? When do you sell? What if someone wants to sell only their portion? Where is it stored? How do you take on new investors? What's the next book to buy!?

But... I love it. I've heard these exist, but have never talked with anyone that's been involved in one.

If there are folks out there that are truly interested, I'd be happy to explore this with you (I have owned, bought and sold several businesses over the past 20 years). I'm near Chicago.

Getting all of the ducks in a row prior to the Feb auction could be a challenge, but I'm up for it.

[BakerFanOne]

1 hour ago, jhm said:

This is tricky business (to put it mildly). How do you agree on a buy price? When do you sell? What if someone wants to sell only their portion? Where is it stored? How do you take on new investors? What's the next book to buy!?

But... I love it. I've heard these exist, but have never talked with anyone that's been involved in one.

If there are folks out there that are truly interested, I'd be happy to explore this with you (I have owned, bought and sold several businesses over the past 20 years). I'm near Chicago.

Getting all of the ducks in a row prior to the Feb auction could be a challenge, but I'm up for it.

Like most investor groups/partnerships, I would imagine you would have active and passive members.  So buying and selling decisions would be made by the active management team.  Most investors would be essentially silent/passive on these types of decisions around buying and selling.  This seems like the most realistic way to make this work.  But with comic book collectors, who knows?

[jhm]

10 minutes ago, BakerFanOne said:

Like most investor groups/partnerships, I would imagine you would have active and passive members.  So buying and selling decisions would be made by the active management team.  Most investors would be essentially silent/passive on these types of decisions around buying and selling.  This seems like the most realistic way to make this work.  But with comic book collectors, who knows?

Agreed. It could either be setup as an alternate investment fund or even a simple stockholder corp. I'd probably prefer the latter.

[fishbone]

sounds very interesting ... I'd seriously consider it

[MrBedrock]

3 hours ago, jhm said:

4 hours ago, BakerFanOne said:

Like most investor groups/partnerships, I would imagine you would have active and passive members.  So buying and selling decisions would be made by the active management team.  Most investors would be essentially silent/passive on these types of decisions around buying and selling.  This seems like the most realistic way to make this work.  But with comic book collectors, who knows?

Agreed. It could either be setup as an alternate investment fund or even a simple stockholder corp. I'd probably prefer the latter.

It could be done either way but there would have to be someone knowledgeable in comics to run it full-time. That person would require some sort of payment for his/her time (salary, percentage etc.). There would also need to be some sort of plan for divesting the assets. If this is done through any outside venue there would be fees associated with each sale (auction house fees, commissions etc.). So the fund would have to realize a significant return on each investment to cover those fees plus management costs, storage and insurance costs, and allow investors to see a return on their investment.

Bottom line, the fund would have to start with a significant initial investment, turn that money repeatedly over the course of the life of the fund, and invest in an in-house method to disperse of the assets to truly realize enough profit.

There are some art funds which do exactly this and are very successful. But we are talking 10's to 100's of millions of dollars of initial capital.

[bluechip]

18 hours ago, Junkdrawer said:

I’m sure there are. I know it’s quite common in the racehorse biz. I was thinking about a group from here. In my imagination anyway. I’d love to know more about the whos and what and hows. What do ya got?

I don't know many details and the ones I do know I would feel uncomfortable putting on a public forum because they might not want it known.   But I knew of people in a couple of fields where guys have a lot of discretionary funds.   From what I heard it was not so much a way of splitting the cost, because most of them had the funds to buy on their own.  It seemed to be more about sharing the experience.   Like when you own a horse with a buddy you go together to see it train and race, etc   This goes back to when restored books were more acceptable and I think that made things easier and more funhd fun for some people because you could let your co-owners read the books without too much fear that one of them would devalue it with a crinkle.  Of course the values were lower, too.   Nowadays the slabs offer some reassurance that one partner won't damage it too much while he's stewarding the book unless he puts it on the wall of his sunlit family room.  

[Junkdrawer]

Finding X number of investors to contribute equally is surely the easy part. The complications of even a simple 2 person joint venture are vast, to consider having 10 or 100 would surely require that of an attorney drew up the contract. Many details down to the rare occurrence would need to be addressed i.e. one of the partners owes child support or one dies (family gets it obviously but let’s cover that bridge). The storage and 24/7 access could be as simple as a third party such as Clink. Their fee could simply be that they get to auction it off, in return they insure it and if you want to go see it and hold it, I’m sure it can easily be arranged. 

The agreed sell date should be could be outlined up front. 2yr, 5 yr or 10yr

still just imagining

[woowoo]

20 hours ago, Hudson said:

I like this idea in general.   

 

Would consider it for an Action 1.  

If you sold your Sig line you could buy a copy of Action 1 I think it would be easy to get the rest back after you get the 1

[AllStar-Comics]

sounds like a mutual fund

[Sqeggs]

Not to bump this old thread just to razz them, but they are apparently going to have a comics only auction (their first?).  Check out the books on their preview page: https://hakes.com/Article/1250/211436/Upcoming-Comic-Auction-Online-August-20th

[bronze johnny]

[MrBedrock]

1 minute ago, bronze johnny said:

I love the artistic photo-realistic marketing approach. 

[Gotham Kid]

16 minutes ago, Sqeggs said:

Not to bump this old thread just to razz them, but they are apparently going to have a comics only auction (their first?).  Check out the books on their preview page: https://hakes.com/Article/1250/211436/Upcoming-Comic-Auction-Online-August-20th

Looks like leftovers from a CC or CL focused ( not featured ) auction.