Do you find many Action Comics' values are stagnant 0

[PopKulture]

11 hours ago, lou_fine said:

 

Try telling this to the consignor who just tried to sell their CGC 9.2 highest graded copy of Action 13 in a recent auction and managed to fetch something like only $166K for the book, or at a rather sizable discount to current top of guide valuation at $190K.  

Is this another case when the OPG catches up with a long undervalued book and then we are shocked when that book can no longer command multiples of Guide? I often think back to the example of Mystery Men 1. 

[Tri-Color Brian]

This might not relate to this discussion today, but back in 1980 Action seemed stagnant in the guide for several years.  I owned a copy of #6 and I started to worry about the value, and whether it was ever going to go up again.  So, I asked Gary Coddington to sell it for me.  I wanted $300 (guide value).  It took Gary over a year to sell the book.  I kinda wish I still had it now...

[lou_fine]

18 minutes ago, PopKulture said:

11 hours ago, lou_fine said:

 

Try telling this to the consignor who just tried to sell their CGC 9.2 highest graded copy of Action 13 in a recent auction and managed to fetch something like only $166K for the book, or at a rather sizable discount to current top of guide valuation at $190K.  

Is this another case when the OPG catches up with a long undervalued book and then we are shocked when that book can no longer command multiples of Guide? I often think back to the example of Mystery Men 1. 

NO, I personally don't believe this is the case here because as far as I am aware, this is the single one and only public sale of an Action 13 which has gone for below condition guide.  Based upon results by more affordable lower graded copies from auctions over the past several years, it would appear that the book has no problems fetching big premiums and even multiples to condition guide.  Sometimes even in restored condition which is a clear signal of a real strong and in-demand book.  

One important thing to note is that the air definitely gets a lot thinner and more rarified when you are talking about paying 6-figures or more for a comic book, especially when it is not a first appearance issue of a major ongoing character.  Which then makes me wonder if other non-first appearance books like Action 7, Action 10, 'Tec 29, or even the seemingly always hot 'Tec 31 would be able to fetch at least huge premiums to top of guide should I high grade copy ever come to market, similar to how lower grade copies are able to sell at multiples to guide with seeming ease.  I would think they should be able to since it's been years, if not decades since a true HG copy of any of these early key GA books have made it to market.  

With respect to the result for this copy of Action 13, it's quite clear that a short year is just simply not long enough for it to come back to market so soon and be guaranteed to make money for the consignor.  Especially for such a high profile book which is probably still relatively fresh in the minds of the serious bidders from the last go round.  Although it did sell for slightly less last year, it still represented a premium to condition guide at the time though, with most bidders probably still remembering they could have gotten it for less than the $166K it took this time.  Instead of a recycled copy of Action 13 coming to market again, I personally believe if it was a new and fresh to market (i.e. first time) CGC 9.2 graded copy of Action 13, it probably would have come a lot closer to the quarter million dollar mark. 

As for your example of Mystery Men #1, that was a completely different situation back then in the mid-90's.  After all, after a couple of big sales of MM1, Overstreet took the unprecedented and very un-Overstreet-like tactic of jacking the price up from $2,100 all the way to $8,500 in just one year.        Definitely one of the reasons why the sentiment on not only MM1, but also on most of the other Fox books cooled off almost immediately.  Especially since buyers or investors in anything always prefer to go after something that is perceived to be undervalued, as opposed to going after something that is seen to be fairly valued of possibly even overvalued relative to the valuations of other similar assets.  This was definitely not the case with Action 13 as that record sale for $185K back in 2011 saw Overstreet gradually raise the guide valuation over a long 8-year time period until its current $190K valuation in this year's edition of the guide.  Needless to say, with this gradual increase in valuation over an extended period of time, Action 13 has always been seen to be an undervalued book relative to guide and possibly one of the reasons it has been such a high demand book over the ensuring years.