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GA COMIC BOOK Collecting in the Financial crisis of 2020
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Started by Mmehdy,

889 posts in this topic

Cat-Man_America

Cat-Man_America

Posted
Posted (edited)
3 hours ago, Mmehdy said:

Part 2: Conversations with a 50 year plus grail collector on GA/SA comic book comic book collecting during the 2020 financial crisis of 2020..and beyond.

As to the comments below some I agree with/ others I don

Selling:

 If you are a risk taker and can accept that you might get only 90% back of the same GA/SA books of what you sold back then sell and sell now. Sell everything. Especially Ga/SA which command  10K or greater price wise. There is no doubt that this economic hit will be the first of its kind and hinges upon a unknown cure. There were be some recovery, but almost all small and large businesses will only hire a fraction back of what they were before the virus. This will take years to sort out and big capital GA books are the ones that most INVESTORS are gonna dump. His prediction is that GA/SA comic book prices, as well as original art, will hit bottom in 2 to 3 years with a slow step by step process to recovery ending in year 5.  This will be the greatest chance to UPGRADE any book over 10K but selling now buying  at the low point another  key with a higher grade or better page quality. He especially thinks all CGC/other company graded books that are graded  restored should be sold asap, and keep the funds and look to obtain a unrestored similar or related comic book. Any and all duplicates or incomplete books cover wise or with tape that are ungraded should be sold. Also books with rusty staples.

 The Ga/SA collector who is in for life should be able long term to get back the material sold over time and those collectors should be ones who sell with the safest safety net of GA recovery. 

Trading:

 His advice is to get a pile or books which you could part with or duplicates or low graded or restored books and then  do a COMBINATION deal part cash and part trade and insist that the seller take some of that material in trade/purchase. Since cash will be king, this could allow you to bootstrap up and get that better book even though you don't have or do not want to spend a certain amount of money. He would rather you sell than trade for trade unless you can trade UP especially restored or low page quality GA/SA for better quality material, He prefers quality over quantity.

There you have it, one take from a collector, part time dealer, and over 50 years of been there and done that.

Food for thought? What do you think?

 

Bearing in mind that we’re dealing with a lot of unknown variables, I think the market will fluctuate a lot in the near term.  As long as there is economic chaos from an untreatable virus that has a relatively high mortality rate and unpredictable outcomes the market prices will be all over the place.  

The “ifs” will take center stage for the foreseeable future.  If social distancing lessons the number of infections ...if part of the economy stabilizes and recovers over the next six to twelve months ...if an effective interim treatment of Covid-19 undergoes successful trials between now and the end of the year ...if we don’t end up in another global catastrophe or regional war while trying to cope with the pandemic ...if testing becomes broad enough to instill public confidence ...if something else major changes to restore public confidence ...and so on.

Selling off seems too “Chicken-Little-ish” for risk takers without having sufficient facts that demonstrate an analytical trend.  Risk takers take those risks for profit, not out of fear of an unpredictable loss.  Sure, those folks who need available cash should consider selling, but they’re not those I consider investors.  By “investor” I don’t mean the average auction flipper or crack & press bumper.  Those who are used to buying cheap or on the margins and turning a quick profit, my advice isn’t for you.  Day-traders are like the guys who play the slots in Vegas for the thrill of putting money into a machine and watching the little wheels turn, but gratification only comes around occasionally and the House always wins.  Investors only sell for two reasons, either to make money or as a leverage to make more money.

True collectors ...based on my understanding of Mitch’s original sense of that phrase... are passionate about collecting and hold onto their books unless trading up. Investors aren’t true collectors, but they come in a range of tactical expertise.  Savvy investors are guided by best opportunities to move money around while maintaining those collectibles perceived to have future value.  By contrast, a savvy collector is in control of the investment risk factors and not overly concerned about them.

Those collectors who need cash immediately are in a different place altogether.  Often folks who are cash strapped and willing to take less have overextended themselves, ...but that’s not always the case.  Some collectors have changing priorities and aren’t concerned about comics as investment losses.  Comic store owners with GA stock have an entirely different focus.  They may opt to sell or auction personally collected comics in an uneven economy for a short term loss based on interrupted business operations knowing they can retrieve some of those comics back later when the economic pressures ease.

Cash is not king ...unless you’re talkin’ about Johnny being king of country music... because inflation will always reduce the value of it.  It’s like what Freewheelin’ Franklin of the Fabulous Furry Freak Brothers said about money and dope (now there’s a classic quote that’s almost worthy of Bill Shakespeare).  The same can be applied to comics.

I’ve been working on this awhile (...there’ve been three replies posted since I started writing and editing this response to Mitch’s post) Yep, ‘tis a strong coffee day.  

:news:  The value of collectible savvy has gone way up! :whee:  Investors seeking rare, high demand savvy will have to pay above market price for the accrued savvy in my stockpile! :insane:

Edited by Cat-Man_America
Breaking gnus!
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pemart1966

pemart1966

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Posted (edited)
19 hours ago, lou_fine said:

Well, from your comment here, I would take it that you do indeed own a copy of Action Comics #1, just not the one in the story with the big writeup. :applause:

As long time collectors like to do, they usuall tend ot go for upgrades, so I would assume the one you own is most probably nicer than the first one you had brought from Theo for $1,801.26.  The only question I have is whether it is possibly nicer than the Church copy that the Dentist owns?  :bigsmile:

BTW:  From that price you had paid, I guess Theo must have been a real penny picher if he was not willing to go down by even a $1.26 on your purchase of the Action 1.  lol

 

Was this an auction price - with a select few invited to bid?

Edited by pemart1966
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KCOComics

KCOComics

Posted
Posted
7 hours ago, Robot Man said:

Screw the predictions, I would love to hear more old stories of comic hunting back in the day. Love the bum story. I have a small pile of GA comics I got from a friend in NJ many years ago. Seems a homeless guy found them in an empty house. He was using them as a pillow. He would take them to a local baseball card shop and sell off 2 or 4 at a time for coffee money. My friend bought them and would sell them to me cheap. Got a Shield Wizard #1, a. couple Spectre More Funs as well as some more. 

+1 

Maybe we need to start a new thread, but I love these stories. 

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KCOComics

KCOComics

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4 hours ago, Axmen said:

Hmm - Seems like this is what I brought up on page 22 and was slapped down quite resoundly and sort of accused of not being a real collector for asking if this was the way to go. 

So what do you think Mitch - you said you agree with some of it and disagree with some can you clarify? 

Im another Sactown guy by the way.

Axman - I hope I'm not included in slapping you around. I didn't mean anything negative by comments, only that's its very difficult to time the market. The risk of selling books with the expectation of getting them cheaper later is to great for me personally. 

Apologies if I was insulting. 

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MrBedrock

MrBedrock

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Posted
On 4/15/2020 at 1:44 AM, Tri-ColorBrian said:

 

=MitchellMehdy.jpg

His friends and fellow collectors call him "king of the comics". That beeyatch, Carol freaking Baskin calls him something else.

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KCOComics

KCOComics

Posted
Posted
3 hours ago, Mmehdy said:

 

I like the idea about changing the way you trading GA  during this crisis. People will need cash, and to get that they make take your lesser material with that..great suggestion. I would call it a partial trade up.

 

 

 

I think this is key not only for collecting but for financial stability in general. Cash creates allot of flexibility. The flexibility to not sell stocks and collectibles when the market tanks, as well as the flexibility to buy cheap when others are selling.  

Its easy to write that,  but life has a funny way of interpreting good plans. Job security and comfort with risk play a key role on deploying lots of cash during a recession.  Comics tend to become lower priority when you've got little folks depending on you. 

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Tri-Color Brian

Tri-Color Brian

Posted
Posted
3 hours ago, Mmehdy said:

 

 I will not take the 90% number in taking a chance that I would be unable replace what was sold. I want want 100% and that is not gonna happen. I will not risk it.

I disagree with the 2/3 year downturn and year 5 recovery. Things are gonna happen quicker than that..a lot quicker, we could hit where we were within 2+ years not 5.

I agree that  most investor's and I would add flippers will sell within the next 18 months.

I disagree with a blanket $ number, you have to look at the book, its rarity, its condition, not the number.

I agree that selling certain GA/SA makes sense, not dumping your entire collection, it seems a bit panicky.

I like the idea about changing the way you trading GA  during this crisis. People will need cash, and to get that they make take your lesser material with that..great suggestion. I would call it a partial trade up.

I would advise every Ga/SA collector to carefully, while we have time on our hands to reevaluate your own collection and either sell,buy or trade up on the weak spots. I disagree with his approach that ALL ungraded, taped etc books should be sold, you might have a very difficult book to obtain no matter what the condition is. I do agree that rusty staples is a issue with me too. I believe you look the total picture, what the book means to you, the condition, how hard was it to obtain, and what impact it will have on your GA/SA collection overall.

 

 

I agree with most of these statements, but given your success rate on the 2020 predictions I might have to remain slightly skeptical.  By the way, how do you like my new avatar? (that's the picture under my name...) :roflmao:

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Mmehdy

Mmehdy

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  • Author
Posted (edited)
6 minutes ago, Tri-ColorBrian said:

I agree with most of these statements, but given your success rate on the 2020 predictions I might have to remain slightly skeptical.  By the way, how do you like my new avatar? (that's the picture under my name...) :roflmao:

The prices were off, but the advice was spot on, hold do not sell on any of those books and it  paid off big time.

Edited by Mmehdy
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KCOComics

KCOComics

Posted
Posted
6 minutes ago, Tri-ColorBrian said:

I agree with most of these statements, but given your success rate on the 2020 predictions I might have to remain slightly skeptical.  By the way, how do you like my new avatar? (that's the picture under my name...) :roflmao:

His advice on AF15 was pretty good. That book went through a ton of growth. 

Maybe the recession will make one affordable enough for me lol. 

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pemart1966

pemart1966

Posted
Posted (edited)
38 minutes ago, Tri-ColorBrian said:

No, it was bought from his friend, Theo Holstein...in 1973.  Scroll up and read the news article I posted...:)

I've known that story for a while but I thought that perhaps yes, he did "buy" it from Theo but "bought" it as a result of having won an auction that Theo held.

$1801.26 sounds more like an auction amount than a straight sale amount.

Edited by pemart1966
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Primetime

Primetime

Posted
Posted
3 minutes ago, Tri-ColorBrian said:

I sent him a message offering to send the pic to him.  We know how computer illiterate he can be...:nyah:  We'll see what he says...

Maybe he may need help loading it. You might have to log on for him :grin:

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Mmehdy

Mmehdy

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Posted
2 minutes ago, pemart1966 said:

I've known that story for a while but I thought that perhaps yes, he did "buy" it from Theo but "bought" it as a result of having won an auction that Theo held.

$1801.26 sounds more like an auction amount than a straight sale amount.

Direct collector and collector sale.

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