Purchase of the year! 2 2

[grapeape]

2 hours ago, Lucky Baru said:

For me it comes down to whether or not you’d want a beloved member of your family selling something for $ 800.00 only to find out it was worth $ 50,000.00+.  I wouldn’t want my mother being the seller in that type of hypothetical sale.  Oh, and I wouldn’t want the buyer in my hypothetical sale teaching ethics to my child either.

Lucky if this art was up in mums attic and she invited the buyer in to make her a fair offer on an item she wasn’t sure of.....and he smiled and said I’ll give you $800 that would be dubious.

Paying a dealer his asking price is all that’s required. Absolute zero moral ethical breach here.

if you go out tomorrow to buy a home for  $80,000 and your research tells you it’s worth $800,000 are you going to tell the seller to take more money from you?

I feel bad for the seller because he didn’t do his job. Know your business. He by no means was robbed.

i feel great for the buyer. You can’t even with certainty talk about money on this piece until the new owner sells it. 

Fear and greed dictate many of the valuations given to art. If you’re selling you pray you’re not giving it away for a song. When you’re buying you pray you’re not over paying.

If you don’t want to be a slave to fear and greed know your art and.buy what you love.That seller went home happy he got full asking price for something that’s been likely laying around his store or office for twenty years. 

If he ever finds out he’ll be devastated. .

[vodou]

7 hours ago, grapeape said:

That seller went home happy he got full asking price for something that’s been likely laying around his store or office for twenty years. 

I still posit there's a great chance that he robbed Granny, paid $80 for it and flipped it for $800 (CAD...always...never forget )

This should be in the evil flipper thread instead, until it's "show me your tax returns" debunked by Granny of course

[PhilipB2k17]

9 hours ago, grapeape said:

Lucky if this art was up in mums attic and she invited the buyer in to make her a fair offer on an item she wasn’t sure of.....and he smiled and said I’ll give you $800 that would be dubious.

Paying a dealer his asking price is all that’s required. Absolute zero moral ethical breach here.

if you go out tomorrow to buy a home for  $80,000 and your research tells you it’s worth $800,000 are you going to tell the seller to take more money from you?

I feel bad for the seller because he didn’t do his job. Know your business. He by no means was robbed.

i feel great for the buyer. You can’t even with certainty talk about money on this piece until the new owner sells it. 

Fear and greed dictate many of the valuations given to art. If you’re selling you pray you’re not giving it away for a song. When you’re buying you pray you’re not over paying.

If you don’t want to be a slave to fear and greed know your art and.buy what you love.That seller went home happy he got full asking price for something that’s been likely laying around his store or office for twenty years. 

If he ever finds out he’ll be devastated. .

I think this transaction, while perfectly ethical, will cause more paranoia in the hobby, which was already rife with it to begin with. The people who collect modern art, and also collect modern comics, have a distinct comparative advantage over the older collectors and dealers who do not know what's going on (or don't have a really good idea, of it) in the current comic industry, or the hobby. One reason why Felix dos so well selling modern art is that his stable of artists happen to be working on a good chunk of the hot modern books, and he's a trusted arbiter for his collector base that may not know as much about what is going on in the current comics hobby, etc.  

But there's a lot of art out there for books that many in the hobby just have no clue about (right now), that younger collectors don't have the money yet to pay up for yet. You can buy that stuff up at pretty reasonable prices, and it is likely to go up when that cohort ages into the prime collecting age group.  

[vodou]

2 minutes ago, PhilipB2k17 said:

But there's a lot of art out there for books that many in the hobby just have no clue about (right now), that younger collectors don't have the money yet to pay up for yet. You can buy that stuff up at pretty reasonable prices, and it is likely to go up when that cohort ages into the prime collecting age group.  

There is so much quality to be had in the $200-500 range for 'new' art it's unreal. $500 is really expensive actually, for panel pages. What's "hot" in 25 years "again" is definitely hard to suss out (it wasn't twenty-five years ago though...I M A G E ) That's the gamble, that oddball niche stuff (because everything is except the usual new Marvel/DC -already expensive btw) will attract enough 'noveau riche' money when dudes finally get good salary jobs...I guess that's what makes it fun, the gamble? At $200 per...it isn't too much of a gamble actually, unless you're young and making minimum wage. I am buying a lot of this stuff, enjoying the stories and art "now" and they're all cheap scratch tickets for "later".

[comicnoir]

I saw the buyer and the piece has been traded/sold.

[Matches_Malone]

1 hour ago, comicnoir said:

I saw the buyer and the piece has been traded/sold.

Good for him. 

[Foley]

On 9/4/2019 at 12:39 AM, Matches_Malone said:

As far as I know there was nothing nefarious about the transaction.   But there are bad optics here.

 

[vodou]

9 hours ago, comicnoir said:

I saw the buyer and the piece has been traded/sold.

Heh.

7 hours ago, Matches_Malone said:

Good for him. 

Mighta been a woman

I'm all for free market too, but initial and early talk of buy/hold, for the collection, good guy....that stuff isn't packing the same punch now, what, three weeks later?

Edited September 23, 2019 by vodou
typo