Market correction , will we see any effect on comics? 7 7

[Krismusic]

1 hour ago, DavidTheDavid said:

Anyone here changing their shopping habits? I'm starting to look at sellers' locations on ebay listings. Not sure I want an influx of packages from affected areas. And I'd rather hold onto my cash right now, or put more into my retirement accounts.

I started doing that in Jan. when it was first known. Was trying to buy locally only specially with Amazon and eBay.. 

[LordRahl]

6 hours ago, GreatCaesarsGhost said:

I humbly disagree. The $50k and over books were hit hard. The $10k and under books did well

I mentioned this previously as well. The higher the price, the smaller the bidding pool. At 6 figures, you probably don't have more than 3-4 people bidding on any given book. At those levels, all it takes is 1 guy sitting out to see a big drop in price. That doesn't happen when we're talking about a Spidey 129 or NYX 3. 1 person sitting out an auction on those wouldn't even register because you have a deeper pool of buyers. The average Joe doesn't have a whole lot of money in the stock market. If you aren't heavily invested or not invested at all, how much do you really care that the Dow is down 25%?

[WolverineX]

March Madness canceled too.  wow

[Rip]

My sales have been strange. Like super super slow when markets take a pounding (like today), but then a day later when the market does ok I get more than I was expecting. Overall though its impacting me a bit. Seems like people are jittery but haven't stopped buying.

[GreatCaesarsGhost]

1 hour ago, LordRahl said:

I mentioned this previously as well. The higher the price, the smaller the bidding pool. At 6 figures, you probably don't have more than 3-4 people bidding on any given book. At those levels, all it takes is 1 guy sitting out to see a big drop in price. That doesn't happen when we're talking about a Spidey 129 or NYX 3. 1 person sitting out an auction on those wouldn't even register because you have a deeper pool of buyers. The average Joe doesn't have a whole lot of money in the stock market. If you aren't heavily invested or not invested at all, how much do you really care that the Dow is down 25%?

Well said

[WolverineX]

1 minute ago, Rip said:

My sales have been strange. Like super super slow when markets take a pounding (like today), but then a day later when the market does ok I get more than I was expecting. Overall though its impacting me a bit. Seems like people are jittery but haven't stopped buying.

are u selling by bids or buy it now?

[Rip]

BIN's on e-bay and word of mouth regular clients.

[WolverineX]

2 hours ago, BIGJIMMY said:

Surprisingly, I have been making some money off rock memorabilia stuff, like paul mccartney,freddie mercury and sid vicious stuff.I guess music is timeless. My super hero stuff has been slow at shows. Now I don't do comic shows, but like flea markets and other venues.

Has it been slow since the market crash or just in general.  

[NewWorldOrder]

1 hour ago, Wolverinex said:

Has it been slow since the market crash or just in general.  

Mine have been fine.     

New GPA records on again non-key Marvel FF Bronze keys, now they were CGC 9.8's, but some went for 300% more than last sale. 

When the economy is down or people are depressed they drink, smoke, and buy collectibles.  Just look at 2008. 

[MGsimba77]

It would be weird to have March madness go on while having the NBA season suspended. I think the NBA made that decision for them.

MLB spring training and at least the start of the season may not be far behind 

[Poka]

Hakes auction ended this evening on the day of the largest stock correction in modern history. Some crazy low prices. Won 15 items, Among others got an x-men 129 CGC 9.6 for $210 and IH2 CGC 4.5 for $1300

 

Edited March 13, 2020 by Poka

[lou_fine]

9 hours ago, LordRahl said:

The average Joe doesn't have a whole lot of money in the stock market. If you aren't heavily invested or not invested at all, how much do you really care that the Dow is down 25%?

I would have to say that the average person have a whole ton more invested in the market than you probably give them credit for.  

Especially when you include all of the indirect investors through their purchases of mutual funds and ETF's.  

I also know for sure that there's a lot more invested in the stock market by the average Joe, as compared to the entire collectibles market combined.  

[GreatCaesarsGhost]

2 hours ago, lou_fine said:

I would have to say that the average person have a whole ton more invested in the market than you probably give them credit for.  

Especially when you include all of the indirect investors through their purchases of mutual funds and ETF's.  

I also know for sure that there's a lot more invested in the stock market by the average Joe, as compared to the entire collectibles market combined.  

Anyone in the market for $50 k books and up, I guarantee you they have a market position. I believe this is why the $50k and up books are doing poorly. They did poorly in both Clink and Heritage. At this point the current events are such a blur I can’t really remember if coronavirus was a thing during the clink auction. I know for darned sure it was during the Heritage auction. But in the Heritage auction, the $10 k and under books did very well. The fact that Poka above got such good deals in last nights Hakes auction suggests to me that now the $10 k and under books are weakening.

just batten down the hatches and hold on to what you got. Cherish the books you have(love the one you’re with, right?). This storm shall pass.

[1Cool]

I literally had no offers for 2 days which was a first.  I got a half dozen low ball offers this morning so things must be getting better.

[batman_fan]

21 hours ago, GreatCaesarsGhost said:

I just told my broker to buy, and he says the market is not yet done falling

 

That would be my guess too

[WolverineX]

10 hours ago, Poka said:

Hakes auction ended this evening on the day of the largest stock correction in modern history. Some crazy low prices. Won 15 items, Among others got an x-men 129 CGC 9.6 for $210 and IH2 CGC 4.5 for $1300

 

Wow, so prices are really droppimg

[WolverineX]

22 hours ago, GreatCaesarsGhost said:

I just told my broker to buy, and he says the market is not yet done falling

 

 

22 hours ago, ThothAmon said:

Just heard that the Fed is going to be buying comics to bolster the market. Putting $1.5 trillion in. Chuck is lined up with about 10 million copies. Newsstands extra. 

Awesome 1.5 Trillion yesterday and today , and the market is still sputtering ...  Must be nice to print money

[sfcityduck]

10 hours ago, Poka said:

Hakes auction ended this evening on the day of the largest stock correction in modern history. Some crazy low prices. Won 15 items, Among others got an x-men 129 CGC 9.6 for $210 and IH2 CGC 4.5 for $1300

 

Identical comic racks were offered up in this auction and the last auction.  Price for this auction was a 50% discount off of last auction.  Same auction house, same rack.  Mean anything?  Who knows.

[WolverineX]

Trump likely invoke National Emergency today... Markets going to crash more

[LordRahl]

10 hours ago, lou_fine said:

I would have to say that the average person have a whole ton more invested in the market than you probably give them credit for.  

Especially when you include all of the indirect investors through their purchases of mutual funds and ETF's.  

I also know for sure that there's a lot more invested in the stock market by the average Joe, as compared to the entire collectibles market combined.  

You think so? The median 401K average for the country is $16,500. You think people can't afford to put more than that in a tax advantaged retirement account but are somehow dropping tons of after tax money into the market?