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Action Comics #1 CGC 8.5 for Sale On ComicConnect
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229 posts in this topic

16 minutes ago, Aman619 said:

Wow. How jaded have we become that a 2M sale gets a handfull of comments.  Sure going close to or over 3M — had it happened — would have made this sale a true marker of continued unlimited upper price appreciation (and induced AF15 2017 levels of  hysteria).  Instead we have crickets here, nothing to see, move on gents. 

Signs of a “maturing market,” I guess!

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26 minutes ago, Aman619 said:

Wow. How jaded have we become that a 2M sale gets a handfull of comments.  Sure going close to or over 3M — had it happened — would have made this sale a true marker of continued unlimited upper price appreciation (and induced AF15 2017 levels of  hysteria).  Instead we have crickets here, nothing to see, move on gents. 

1. I agree

2. The weirdness of restarting the auction didn't help matters

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Also, has Heitage ever had a bidding outage like this? I don't remember in comics but maybe in another category? I've seen it in this instance and at comiclink (I was one of the disappointed folks at that time)

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…. It certainly speaks volumes for the market presence that Comic Connect has developed..... they definitely bring home the results at Auction.... and I don't know if it's just me, but my packages from them are arriving quicker than ever … first class outfit all the way. If I were curious about anything it would be how many unique bidders existed above the one million mark. My memory isn't as good as it once was, but wasn't the record breaking sale of this book the first time around when it was also the highest certified ? GOD BLESS...

-jimbo(a friend of jesus)(thumbsu

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59 minutes ago, jimjum12 said:

My memory isn't as good as it once was, but wasn't the record breaking sale of this book the first time around when it was also the highest certified ? GOD BLESS...

-jimbo(a friend of jesus)(thumbsu

Yes.

In early 2010, the Action 1 8.0 hit $1M, a few days later the D27 8.0 went for $1.075M, and then a month later the Action 1 8.5 hit $1.5M.

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Congrats to whom it may concern, for sure, and to the HOBBY to start with!! :applause:

This was another record sale and I'm quite sure to read about it in my newspaper even on THIS side of the pond within the next few days. 

For us comic book collectors/fans over here in central Europe such results are pure fantasy. :cloud9:

Oh, and why exactly didn't the underbidder go for another 2k? 

Edited by Pickie
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59 minutes ago, sfcityduck said:

Yes.

In early 2010, the Action 1 8.0 hit $1M, a few days later the D27 8.0 went for $1.075M, and then a month later the Action 1 8.5 hit $1.5M.

It was an awesome game of one-upsmanship between ComicConnect and Heritage. 

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4 hours ago, jabats said:

Signs of a “maturing market,” I guess!

By the numbers:

March 30, 2010:  Action #1 CGC 8.5 sells for $1.5 million

June 12, 2018:  Action #1 CGC 8.5 sells for $2,052,000

That's a 36.8% return over 8 years, 2 1/2 months (3.89% annualized), for one of the most desirable books in the entire hobby (23.1% if there was a full 10% commission; 30.0% if there was a reduced 5% commission, which works out to 2.56% and 3.24% annualized, respectively).  Minus any applicable taxes as well, of course.  Given that an 8.0 copy sold for $1 million just a few months prior, and that asset prices were reflating at a rapid clip during this period, I don't think anyone can credibly claim the $1.5 million sale was an outlier, gamesmanship or not.

A lot of drek has far, far outpaced that Action #1 8.5 since March 2010 (as have many other less glamorous collectibles and other assets).  A timely reminder that it's not just what you buy, it's also when you buy/how much you pay that determines your future return (not just regarding comics/collectibles, but on everything). 2c 

Edited by delekkerste
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As a reminder of how crazy it was... it was just over a month spread between the three sales. 

Action Comics #1 CGC 8.5 on 2010/03/29    at ComicConnect    $1,500,000.00
Detective Comics    27        8.0        on 2010/02/25   at  Heritage    $1,075,000.00
Action Comics    1    Kansas City    8.0        on 2010/02/22 at ComicConnect

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image.thumb.png.281f444f77ab13f73f59dc70dc228f6d.png

 

TITLE ISSUE# PEDIGREE GRADE DATE VENUE PRICE
Action Comics 1   9.0 on 2014/08/24 eBay $3,207,852.00
Action Comics 1   9.0 on 2011/11/30 ComicConnect $2,161,000.00
Action Comics 1   8.5 on 2018/06/13 ComicConnect $2,052,000.00
Action Comics 1   8.5 on 2010/03/29 ComicConnect $1,500,000.00
Amazing Fantasy 15   9.6 on 2011/03/09 ComicConnect $1,100,000.00
Detective Comics 27   8.0 on 2010/02/25 Heritage $1,075,000.00
Action Comics 1 Kansas City 8.0 on 2010/02/22 ComicConnect $1,000,000.00
Action Comics 1   5.5 on 2016/08/04 Heritage $956,000.00
All Star Comics 8   9.4 on 2017/08/27 eBay $936,223.00
Action Comics 1   5.0 on 2018/03/20 ComicConnect $815,000.00
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49 minutes ago, delekkerste said:

A lot of drek has far, far outpaced that Action #1 8.5 since March 2010 (as have many other less glamorous collectibles and other assets).  A timely reminder that it's not just what you buy, it's also when you buy/how much you pay that determines your future return (not just regarding comics/collectibles, but on everything).

Agree. In fact, it seems like the Action #1 in 5.0 that sold in 2010 for $436K is right now a better investment, percentage-wise, than this comic (one of the top ten single books in the hobby). As hard as it is to call a $2 million dollar sale a disappointment, this is quite close to being one.  At least as someone noted, it still sold for over guide - though it will be interesting to see what the guide number is in a month when the new one comes out.

 

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1 hour ago, Crowzilla said:

Agree. In fact, it seems like the Action #1 in 5.0 that sold in 2010 for $436K is right now a better investment, percentage-wise, than this comic (one of the top ten single books in the hobby). As hard as it is to call a $2 million dollar sale a disappointment, this is quite close to being one.  At least as someone noted, it still sold for over guide - though it will be interesting to see what the guide number is in a month when the new one comes out.

 

Who'da thunk that exponential growth couldn't last?  

 

But seriously, this is the 4th best known copy?  We know that the 2nd and 3rd (although this one seems nicer than the Cage copy) are owned by the same guy, who's a freaking billionaire.  How many people have $2M to drop on a comic book?  This isn't the Church copy.  Expectations about growth at that level have to be reasonable, and $1/2M over 8 years is nothing to sneeze at.  

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2 hours ago, Crowzilla said:

Agree. In fact, it seems like the Action #1 in 5.0 that sold in 2010 for $436K is right now a better investment, percentage-wise, than this comic (one of the top ten single books in the hobby). As hard as it is to call a $2 million dollar sale a disappointment, this is quite close to being one.  At least as someone noted, it still sold for over guide - though it will be interesting to see what the guide number is in a month when the new one comes out.

 

Oh buying a bunch of bottom feeder a1's and t27's in 2010 would have done waaay better, no doubt.   It would be interesting to do that comparison since so much larger ticket golden age has been on fire.

I think part of what held this one back is that in 2010 it was the nicest graded action 1 you could buy, and its now the third banana.

Edited by Bronty
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8 hours ago, jabats said:

Signs of a “maturing market,” I guess!

I agree.

I expect the present "world record" comic book price set a few years back to stay the same for a good while.  With the top three known Action 1s and top known D27s apparently tied up forever, at this point I think there are only two potential reasons why we would see another world record comic book sale in the next five to ten years: 

    Church MC 1 (estimated 9.8)

    Allentown CA 1 (CGC 9.8)

And I would not bet that either could do it today.

 

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1 hour ago, buttock said:

Expectations about growth at that level have to be reasonable, and $1/2M over 8 years is nothing to sneeze at.  

A return of 3% to 4% a year for an object that brings you great joy is a huge huge bonus.  If its your retirement account?  Then you might be sad.

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8 hours ago, jimjum12 said:

…. It certainly speaks volumes for the market presence that Comic Connect has developed..... they definitely bring home the results at Auction.... and I don't know if it's just me, but my packages from them are arriving quicker than ever … first class outfit all the way. If I were curious about anything it would be how many unique bidders existed above the one million mark. My memory isn't as good as it once was, but wasn't the record breaking sale of this book the first time around when it was also the highest certified ? GOD BLESS...

-jimbo(a friend of jesus)(thumbsu

Had an odd experience with CC recently.  Won three books in their most recent auction (before the one currently underway), paid promptly but didn't receive the books.  Finally got an e-mail from them a couple of days ago indicating that they had contacted the consignor of one of the books multiple times about sending them the book but never heard back from him and did I still want the other two books.  I did want them and they sent them up promptly.

First time I've ever encountered any of the three main auctions houses auctioning a book that they didn't actually have in hand.  I had assumed that they always had the books before they listed them in an auction.  With respect to CC, at least in this instance, it turned out not to be the case.

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4 hours ago, delekkerste said:

A lot of drek has far, far outpaced that Action #1 8.5 since March 2010 (as have many other less glamorous collectibles and other assets).  A timely reminder that it's not just what you buy, it's also when you buy/how much you pay that determines your future return (not just regarding comics/collectibles, but on everything). 2c 

Wait, are you telling me that Tesla's not a buy at $345? :insane:

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3 hours ago, clarkkentdds said:

I think the history of the rust was a big factor. (Regardless of the fact the label no longer stated so.)

Rust is a big deal and factor while it it did not hit say 2.25

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