WHAT BOOK CAN'T YOU AFFORD TO SELL? 5 5

[circumstances]

8 hours ago, sfcityduck said:

 

I know a guy who nets maybe $100K a year.  He has comics worth more than a $1M (multiples).  But, he lives a comfortable lifestyle.  He doesn't need a cash influx for anything.  So he feels no desire to sell any of his books.  If he sold a comic for $50K, his life would not change in any meaningful way.  But, if he bought a book for $50K, he'd be hurting.  He'd need to sell some of his comics to make ends meet.  

Besides the numbers being slightly off, you could be describing me.

[Flex Mentallo]

2 hours ago, bounty_coder said:

WW what an amazing copy FLEX

Undoubtedly marked down because of the page quality - but I can live with it! Flew under the radar at the time IMO. [Those were the days!]

[october]

9 hours ago, Dr. Love said:

Of course holding a book is the same as buying it, in terms of allocation of resources.  But the endowment effect is real, and we are not purely logical economic beings.  Where people on the board get their minds in a twist is often in relation to their cost basis in the book.

Exactly. There are two end states (the book or the money), but which state I pick depends on a bunch of nonsensical factors like my cost basis, my emotions and if I start with the book or the money. 

[october]

10 hours ago, scooter99 said:

What grade is your Black Cat 50? 

7.0 or so? 

I really don't know exactly what it is worth, but it's definitely north of what I would pay for a replacement. 

[*paull*]

1 hour ago, october said:

7.0 or so? 

I really don't know exactly what it is worth, but it's definitely north of what I would pay for a replacement. 

Funny that BCM 50 was mentioned... That's the book I was thinking about when I stated that I wouldn't/couldn't re-buy anything in my collection.  My low-grade copy of that book is probably worth more than I would pay for any comic book at full market value at this point.

[GreatCaesarsGhost]

11 hours ago, circumstances said:

Besides the numbers being slightly off, you could be describing me.

+1. I’ve gotten to the point where I may still monitor the boards, but I’m exactly where I need to be with my collection, and consider my days of active acquisition to be done

[sfcityduck]

12 hours ago, Dr. Love said:

Of course holding a book is the same as buying it, in terms of allocation of resources.  But the endowment effect is real, and we are not purely logical economic beings.  Where people on the board get their minds in a twist is often in relation to their cost basis in the book.

"is the same" or "is NOT the same"?

[woowoo]

26 minutes ago, GreatCaesarsGhost said:

+1. I’ve gotten to the point where I may still monitor the boards, but I’m exactly where I need to be with my collection, and consider my days of active acquisition to be done

NOT BEFORE YOU GET ONE OF THESE.

[Robot Man]

49 minutes ago, *paull* said:

Funny that BCM 50 was mentioned... That's the book I was thinking about when I stated that I wouldn't/couldn't re-buy anything in my collection.  My low-grade copy of that book is probably worth more than I would pay for any comic book at full market value at this point.

Ironic about the BC #50. Just yesterday I got the usual inquirey from someone about wanting to buy my copy. We live in a world where everything seems to "have a price". A book like that is money in the bank. I would never be able to replace it. Besides, a cornerstone in my PCH collection and the key book in my complete run. How bad do I need mere money? I guess not that bad. I can always sell a lot of lessor books if I did. And, if I were to sell it, don't people realize that I would slab it and send it to auction? I guess one can always try...

[circumstances]

1 hour ago, GreatCaesarsGhost said:

+1. I’ve gotten to the point where I may still monitor the boards, but I’m exactly where I need to be with my collection, and consider my days of active acquisition to be done

You planning to pass them on, liquidate at some point to pad the retirement fund, line the casket with them?

[GreatCaesarsGhost]

1 hour ago, woowoo said:

NOT BEFORE YOU GET ONE OF THESE.

Ha!  Pic to be posted soon.  CGC is gonna reholder it first

[GreatCaesarsGhost]

43 minutes ago, circumstances said:

You planning to pass them on, liquidate at some point to pad the retirement fund, line the casket with them?

I like the idea of lining the casket, but no.  My plan is when I quit the practice of law in 6 years, at the age of 70, I’ll sell the books and buy a Swiss chalet.  Or, depending on the sale, maybe a double wide

Edited April 19, 2019 by GreatCaesarsGhost

[circumstances]

16 minutes ago, GreatCaesarsGhost said:

I like the idea of lining the casket, but no.  My plan is when I quit the practice of law in 6 years, at the age of 70, I’ll sell the books and buy a Swiss chalet.  Or, depending on the sale, maybe a double wide

I'm an attorney as well.

No definite plans, but I will likely sell everything sometime during the year after I retire.

[woowoo]

31 minutes ago, GreatCaesarsGhost said:

Ha!  Pic to be posted soon.  CGC is gonna reholder it first

DID YOU SEE CAP'S FACE ON THE POST I DID ?

[GreatCaesarsGhost]

11 minutes ago, woowoo said:

DID YOU SEE CAP'S FACE ON THE POST I DID ?

How could I miss it. Woo woo, you crack me up. I screenshotted it to my wife, who I’m sure did an elaborate eye roll 

Edited April 19, 2019 by GreatCaesarsGhost

[woowoo]

2 minutes ago, GreatCaesarsGhost said:

How could I miss it. Woo woo, you crack me up

 

[Gotham Kid]

25 minutes ago, circumstances said:

No definite plans, but I will likely sell everything sometime during the year after I retire.

That will be 1 hell of an auction.

[circumstances]

3 minutes ago, Gotham Kid said:

That will be 1 hell of an auction.

Thanks! I dunno, I might sell a book here a book there. Instead of Berk'ing it.

[GreatCaesarsGhost]

28 minutes ago, circumstances said:

I'm an attorney as well.

No definite plans, but I will likely sell everything sometime during the year after I retire.

You know, I’ve left a marker in place on the stocks I sold to acquire my books. With the push of a button I’ll be able to compare what the stock value would have been, had I left it alone, to my take once I liquidate the books. It’ll be my own little scientific study. Truly I don’t care if I lose a few bucks. There’s a lot of stress in our chosen field, and the books help me cope. I don’t think I’ll need the crutch when I retire, but who knows. Maybe I’ll need them more than ever when all I do is sit around in my bathrobe all day, scratching my butt

[circumstances]

6 minutes ago, GreatCaesarsGhost said:

You know, I’ve left a marker in place on the stocks I sold to acquire my books. With the push of a button I’ll be able to compare what the stock value would have been, had I left it alone, to my take once I liquidate the books. It’ll be my own little scientific study. Truly I don’t care if I lose a few bucks. There’s a lot of stress in our chosen field, and the books help me cope. I don’t think I’ll need the crutch when I retire, but who knows. Maybe I’ll need them more than ever when all I do is sit around in my bathrobe all day, scratching my butt

Butt scratching: the hidden cost.