Action Comics #1 CGC 8.5 for Sale On ComicConnect 3 3

[rob_react]

3 hours ago, sfcityduck said:

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.

 

I don't think either would do it today. I think both would be seven figure books, but not 3.5 million dollar books. 

I don't know that the Detective Comics #27 CGC 9.2 is tied up forever. I don't know anything about that book at all, to be honest. 

That would be a new record.  

[fishbone]

14 hours 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. 

Agreed. But at least it had it's own thread.

The Tec27 mod. restored hit close to a quarter mil ( remember when $317K was the record not too long ago for ANY comic) and if I'm not typing it here now, wouldn't get one mention in the GA section at all. It's really unbelievable to me how things have changed in a decade .........kinda  sad really

but price-wise for restored mega keys, woo hoo!!!!

 

Edited June 14, 2018 by fishbone

[AJD]

18 hours ago, delekkerste said:

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).  

You shouldn't do the calculations in nominal dollars. $1.5 million in 2010 is equivalent to $1.74 million now due to inflation. (CPI calculator) So the return over the eight years is actually 18% in real terms, or 2.1% above inflation annualised.

[LDarkseid1]

16 hours ago, sfcityduck said:

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.

 

Yeah I think that makes sense. Those would be amazing books to go up for auction!

Edited June 14, 2018 by LDarkseid1

[sfcityduck]

46 minutes ago, LDarkseid1 said:

Yeah I think that makes sense. Those would be amazing books to go up for auction!

Sadly, my rank speculation is that it is more likely now than any time in the past.

[Mr bla bla]

13 hours ago, fishbone said:

Agreed. But at least it had it's own thread.

The Tec27 mod. restored hit close to a quarter mil ( remember when $317K was the record not too long ago for ANY comic) and if I'm not typing it here now, wouldn't get one mention in the GA section at all. It's really unbelievable to me how things have changed in a decade .........kinda  sad really

but price-wise for restored mega keys, woo hoo!!!!

 

Yes we are seeing a compression pricewise in the buttom lower grade segment of key GA so restored mega grails are soaring. The recent tec 27 ext 4.5 for 180K comes to mind.

[bluechip]

22 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.

 

This is not so different from the way things are in other collectibles, even fine art.   People who want the most expensive/most desirable/most famous items are not necessarily in need of making as much as they would if they bought many lesser items instead of the few super-big items.    People know intrinsically that nobody keeps anything forever, and nobody keeps money any longer than they keep anything else, so some of the things you spend money on have to be things you know will not earn as much as you could elsewhere, and you're doing it for another reason or a combination of reasons; you make a little less profit but you enjoy having it more on other levels.

[Bronty]

2 hours ago, bluechip said:

This is not so different from the way things are in other collectibles, even fine art.   People who want the most expensive/most desirable/most famous items are not necessarily in need of making as much as they would if they bought many lesser items instead of the few super-big items.    People know intrinsically that nobody keeps anything forever, and nobody keeps money any longer than they keep anything else, so some of the things you spend money on have to be things you know will not earn as much as you could elsewhere, and you're doing it for another reason or a combination of reasons; you make a little less profit but you enjoy having it more on other levels.

I just think the market for action 1's moves like an accordion.    Sometimes the top end rises quickly, sometimes the bottom end rises quickly, sometimes the gap expands, and sometimes it contracts, but for the most part over time all points regress to what you'd expect in a relationship between the grades.     Same can be said of the relationship between GA prices and SA prices.

That being said, I don't think this sale is necessarily reflective of any of that.  Hard to say what the very top end truly is until that pesky church copy sells.    That's an auction I'll have to take a day off work for

Edited June 14, 2018 by Bronty

[cousin itt]

An action #1 just came up on da bay, along with a cap #1 and an action #2.

[LDarkseid1]

On 6/13/2018 at 6:24 PM, rob_react said:

I don't think either would do it today. I think both would be seven figure books, but not 3.5 million dollar books. 

I don't know that the Detective Comics #27 CGC 9.2 is tied up forever. I don't know anything about that book at all, to be honest. 

That would be a new record.  

I pray that Tec 27 CGC 9.2 hits a no reserve auction someday. Would love to see what that beast of a book would finish at!

[LDarkseid1]

3 hours ago, cousin itt said:

An action #1 just came up on da bay, along with a cap #1 and an action #2.

Yeah I just checked them out. , Sparkle City Comics, how in the hell did you come across those???!!! Should be very very interesting to see what that Action 1 finishes at. Already at $50K. Damn I wish I had more money lol.

[Pickie]

22 minutes ago, LDarkseid1 said:

Sparkle City Comics, how in the hell did you come across those???!!!

They don't tell? Looks like a find in the wild. 0.5 incomplete ... nice centering ... It still happens?

[G.A.tor]

4 hours ago, LDarkseid1 said:

I pray that Tec 27 CGC 9.2 hits a no reserve auction someday. Would love to see what that beast of a book would finish at!

I would expect it to sell privately, if it changes hands. Doubt we will see in a public auction 

[rob_react]

1 minute ago, G.A.tor said:

I would expect it to sell privately, if it changes hands. Doubt we will see in a public auction 

[The Lions Den]

On ‎6‎/‎13‎/‎2018 at 2:12 PM, delekkerste said:

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).  

I love the business report! Nice job...and oh yeah, there'll be a little something extra in your paycheck... 

[LDarkseid1]

9 hours ago, Pickie said:

They don't tell? Looks like a find in the wild. 0.5 incomplete ... nice centering ... It still happens?

Oh yeah I figured. I was just more or less shouting at the world that it didn’t come to me haha.

[Dark Knight]

The Ebay Action 1 is missing the cf too on top of the restoration work already done. Just a fyi when anyone is planning on bidding. Not a bad looking entry level copy.  

[LDarkseid1]

5 minutes ago, Dark Knight said:

The Ebay Action 1 is missing the cf too on top of the restoration work already done. Just a fyi when anyone is planning on bidding. Not a bad looking entry level copy.  

Yeah it definitely has it’s issues, but damn that cover and those pages are awesome!

[N e r V]

21 hours ago, Bronty said:

I just think the market for action 1's moves like an accordion.    Sometimes the top end rises quickly, sometimes the bottom end rises quickly, sometimes the gap expands, and sometimes it contracts, but for the most part over time all points regress to what you'd expect in a relationship between the grades.     Same can be said of the relationship between GA prices and SA prices.

That being said, I don't think this sale is necessarily reflective of any of that.  Hard to say what the very top end truly is until that pesky church copy sells.    That's an auction I'll have to take a day off work for

If it’s a 10 mil or whatever book I wonder how many buyers in comics today would or could bite on such an animal?

[sfcityduck]

37 minutes ago, N e r V said:

If it’s a 10 mil or whatever book I wonder how many buyers in comics today would or could bite on such an animal?

It's only a 10 mil book of if two people think it is.  Right now, there's no hard evidence that any comic, including the MH Action 1, would garner more than $3M and change at auction.