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When will the next unrestored Tec #27 come to auction?
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Started by Wayne-Tec,

1,086 posts in this topic

sfcityduck

sfcityduck

Posted
Posted
42 minutes ago, woowoo said:

Hard to prove but 27 mil on Tax turns a lot of heads but there are legal ways that are fishy but are legal by law. I am not an attorney but i did stay at a Best Western

 

Only two ways to avoid the sale tax:  (1) Be a dealer and (2) live in a state where you don't trigger the sales tax.  Looks like Sotheby's was helping a non-dealer collector pretend to be a dealer.  It is going to be a hard sell if the collector has a real business he heads up (which he likely does) and does not advertise himself as an art dealer (which he probably does not).  

As for option two: I know folks think it is legal to have a dealer in a state that does not charge sales tax act as a "pass through" in the purchase of comics that are located in sale tax states.  But, I'm not convinced this is legal.  It's one thing for a dealer to buy a comic and then resell it at a profit to sellers down the road.  It may be another for a dealer to buy a comic with the intent of acting as a pass through to help a customer avoid sales tax.  I think the dealer risks the Sotheby's situation.  But, I'm not a tax attorney, so I may well be wrong.

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tfish1

tfish1

Posted
Posted (edited)

ya think?

Vincent Zurzolo -- co-owner of ComicConnect, which managed the sale -- says the comic probably would have gone for even more if it was in better condition, but it's only a 6 out of 10 on the CGC grading scale.

 

 

 

Edited by tfish1
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LDarkseid1

LDarkseid1

Posted
Posted
1 hour ago, woowoo said:

BATMAN1939 COMIC SELLS FOR $850K!!!Caped Crusader's Debut

 

11/7/2020 12:10 AM PT

a85894a877cf4ba4a8318ded39dbecf7_md.jpg
EXCLUSIVE
ComicConnect

Batman was first revealed in a comic book way back in 1939, and though kids could have bought it then for 10 cents ... a collector just paid $849,999.90 more to get his hands on one.

Detective Comics No. 27 is the vintage comic in which the Caped Crusader makes his first appearance, and there are fewer than 70 copies still remaining in the world ... according to online auction house ComicConnect.

One of those copies just sold for a whopping $850k, making it the second-highest sale price ever for that particular issue ... and one of the top comic book sales of all time.

fb2b411a9afd4f98874b7f2f6b1205b5_md.jpg
ComicConnect

Vincent Zurzolo -- co-owner of ComicConnect, which managed the sale -- says the comic probably would have gone for even more if it was in better condition, but it's only a 6 out of 10 on the CGC grading scale.

By contrast, another copy of No. 27 that was graded an 8 sold for a staggering $1,075,500 in 2010 ... setting the record for the Batman comic.

Zurzolo says the recent $850k sale reflects how the collectibles market is booming right now. As we've reported ... that's been evidenced by a Mike Trout rookie card netting a stunning $3.9 MILLION in August, and a LeBron James rookie card fetching $1.8 mil in July.

As for comic books ... Superman still reigns supreme. A copy of the 1938 edition of Action Comics No. 1 where the superhero debuted sold for $1.5 million, smashing all previous records.

I wonder what the owner made after commission. I mean I guess I wonder if CC took a smaller one to make it work. Seller must been the one who previously bought it for $732K.

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LDarkseid1

LDarkseid1

Posted
Posted
41 minutes ago, tfish1 said:

ya think?

Vincent Zurzolo -- co-owner of ComicConnect, which managed the sale -- says the comic probably would have gone for even more if it was in better condition, but it's only a 6 out of 10 on the CGC grading scale.

 

 

 

Haha, I mean safe to assume he’s commenting based off a potential readership that doesn’t understand that notion. But funny nonetheless.

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Professor K

Professor K

Posted
Posted

Wow I'm really surprised they sold the 6.0 before the 7.0 auction was over. Petty thinking I know but I would say if the 7.0 ends at around 1.1 million or more that the new owner of the 6.0 got a fair deal. Even if the 7.0  ends at 1 Million he/she (I just wrote "she" to be politically correct, I mean C'mon) still did ok. If the 7.0 ends at some high price like 1.3 million or more then the new owner of the 6.0 got a great deal. 

 

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sfcityduck

sfcityduck

Posted
Posted
16 minutes ago, Professor Chaos said:

Even if the 7.0  ends at 1 Million he/she (I just wrote "she" to be politically correct, I mean C'mon) 

Correct me if I'm wrong, but isn't the only person with a complete DC collection (now that Levine has given up) a woman?  Lot of famous female collectors (Maggie Thompson, Michelle Nolan, etc.) and female dealers, so don't know what you're saying here.

 

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Professor K

Professor K

Posted
Posted (edited)
26 minutes ago, sfcityduck said:

Correct me if I'm wrong, but isn't the only person with a complete DC collection (now that Levine has given up) a woman?  Lot of famous female collectors (Maggie Thompson, Michelle Nolan, etc.) and female dealers, so don't know what you're saying here.

 

Well that didn't take long. I forgot you can't joke about some things these days. While my wife is ironing my pants I'll write it over in a way which does not offend.

Wow I'm really surprised they sold the 6.0 before the 7.0 auction was over. Petty thinking I know but I would say if the 7.0 ends at around 1.1 million or more that the new owner of the 6.0 got a fair deal. Even if the 7.0  ends at 1 Million he/she still did ok. If the 7.0 ends at some high price like 1.3 million or more then the new owner of the 6.0 got a great deal. 

I feel better now. I didn't offend anyone and my pants have no wrinkles. Joking, just joking. She's actually terrible at ironing. Joking! Still joking. 

<3

 

 

Edited by Professor Chaos
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Mmehdy

Mmehdy

Posted
Posted (edited)
1 hour ago, Professor Chaos said:

Well that didn't take long. I forgot you can't joke about some things these days. While my wife is ironing my pants I'll write it over in a way which does not offend.

Wow I'm really surprised they sold the 6.0 before the 7.0 auction was over. Petty thinking I know but I would say if the 7.0 ends at around 1.1 million or more that the new owner of the 6.0 got a fair deal. Even if the 7.0  ends at 1 Million he/she still did ok. If the 7.0 ends at some high price like 1.3 million or more then the new owner of the 6.0 got a great deal. 

I feel better now. I didn't offend anyone and my pants have no wrinkles. Joking, just joking. She's actually terrible at ironing. Joking! Still joking. 

<3

 

 

I think the seller of the 6.0 said "a bird in the hand is better than two in the bush:" type thinking and it is a record price and I agree with the move to sell it before the 7.0 sale. We are at a crossroads here that may determine a number of books in less than perfect condition will start being considered at the 1 million dollar level. I would say this uptick in market prices and demand is not coming from "old time" collectors in the majority but speculators who are considering the best of the GA high grade Keys to be merely investment widgets to turn a profit from. Long term it does  NOT give a rock solid foundation in which these prices will never go down, on the contrary is vastly increases the risk of true GA comic book value( among true collectors) will be subject to market swings tied to the economy of the world, rater than this slow 50 years solid foundation increases which have built out GA/SA comic book world today. I know things are always gonna change...but for me I would be very careful in spending a million dollars on any GA/SA key under 8.0 unless white pages and it is a solid grade evaluation.. This is really big risk here on both the 6.0 850K  purchase price plus tax and 7.0 if above a million plus sales tax long term.

Edited by Mmehdy
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DanCooper

DanCooper

Posted
Posted
9 minutes ago, woowoo said:

who is she. I have all kinds of pictures of Ian collection

Christine Farrell. Her name has been mentioned here in the past on the boards (especially by Ian!)

Polar opposite of Ian's approach. Low key, under the radar.

Here was the Scoop write up on the completion from 2004 (name not mentioned. Neither is gender. Does that even matter?)

https://scoop.previewsworld.com/Home/4/1/73/1023?articleID=46453

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