GA COMIC BOOK Collecting in the Financial crisis of 2020
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18 hours ago, Tri-ColorBrian said:

OK, so for any others here that don't know who Mitch (Mmehdy) is...here's the story from a clipping I saved from my local paper.  I don't remember the year though, but I think it was somewhere between 1973 and 1975.  Maybe Mitch can clarify this for me.  Oh, and nice long hair Mitch...:baiting:  also, it's nice to see you changed your name from Michael to Mitch.  There are far too many Michael's in the world, and not enough Mitch's...¬¬:roflmao:You gotta love reporters that get your name wrong and right in the same story.

=MitchellMehdy.jpg

I think Mitch should use this as his avatar. ^^

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On 4/14/2020 at 7:48 PM, KCOComics said:

As an aside,  I walked out the door with an Xmen 1 that day! 

Any idea what he walked out the door with, since it sounds as though he's the big comic spender type if he was willing to fork over life-changing money for an Action 1?  hm

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9 hours ago, Mmehdy said:
19 hours ago, Tri-ColorBrian said:

I don't think many of us saw the recent escalation in values coming 15 years ago.  Heck, I didn't even see it 7 years ago...:whatthe:  lol

I don't think that statement is limited just to the last 15 years. The same could be said of prices 50 years ago..1970. We have been on a step-ladder of price increase ever since the Overstreet Guide was first  published, and even before if you had access to GA at a local bookstore it still cost you some money.

Although I always expected GA keys/semi-keys and classic cover books to continue to increase in price over time, I assume this would be mostly for books in grade. (thumbsu

Yet, if you take a look at some of the auction results over the past few years for these GA keys, classic covers, and HTF in-demand books, they have actually increased percentage wise the most in lower more affordable grades.  I still remember back in the day, when collectors would not pay big money for books in low grade or entry level reading condition, but clearly now this is no longer the case as rising prices or lack of supply has caused many of these low grade copies to also sell for multiples to condition guide which is something that would never have happened in the old days.  :preach:

Definitely a sign of strength in the marketplace whn a book can sell for multiples to guide in all grades across the entire condition specturm, and even more so for the few that can also do it in restored condition.  :applause:

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Posted (edited)
On 4/15/2020 at 11:00 AM, Mmehdy said:

In that thread I explained in a Lion King fashion that the A1 went to Theo for 1500 and he sold me to at 1801.26 and THEN I sold that copy back to bruce for $2500 sometime later, possibly one year later. I do not own that copy as Bruce sold that copy to somebody else for even a greater price.

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 usually tend to 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

 

Edited by lou_fine

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6 hours ago, lou_fine said:

Any idea what he walked out the door with, since it sounds as though he's the big comic spender type if he was willing to fork over life-changing money for an Action 1?  hm

The big books that day were X1, DD1, TOS39 and FF1.  Then there were thousands of other SA books. The shop was selling them at pretty heavily discounted prices. Because of the discounts, they put in a rule that each person could only buy 1 mega key before others had a shot to buy it. 

I had gone a few days earlier to preview the books and decided I was going after the X1.  He had a list a mile long.  So I walked in, grabbed my comic and walked out smiling.  I know he grabbed the DD1, but was buying more back issues when I left.  The DD1 was highest graded book in the lot.  The other big keys including my Xmen1 were in the 1.5 to 2.5 range. 

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8 hours ago, lou_fine said:

 

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

 

From what i remember, that was for shipping.  

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On ‎6‎/‎11‎/‎2011 at 11:31 PM, Mmehdy said:

“The King of comics had just been ripped off”

 

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(I got a lot of flack for paying $1800, so much so that for years when people came up to me, they would joke wretched excess.)

 

When the sale of Action #1 was published worldwide, everyday people from across the nation tried to sell their comic books to the “crazy kid” thinking he would pay $1800 per comic. I received so many letters without my formal address, that the post office would forward any mail that contained the words “Mitchell Mehdy, Carmichael, CA” or “King of Comics, Carmichael, CA” on the front of the mail. Another maneuver that people tried to contact me was through my high school.

 

Little did I know that those letters would send me on incredible journeys all over the country to buy books. One letter that stood out to me in particular did not contain a name or return address on the outside of the letter, but in the inside it simply contained a phone number and a statement: “Comics For Sale”. I called the number and the guy said, “I have a Superman #1 for sale for $1800.” I told him, “Superman #1 is not as valuable as Action #1. I’ll only give you $500 cash for it.” The caller said, “Ok.” At the time I had talked to him on the phone, everything appeared normal by his voice. I should have known that something was “fishy” about the purchase when the caller refused to be meet me at Bob’s Big Boy restaurant in public, but he insisted that we meet at a local gas station instead. This was my second trip that I made in the Southern California region to buy comic books. I arrived on time and waited for him in dark gas station to arrive. The gas station was silent and I noticed a bum standing buy the gas station restroom alone. I had been waiting 20 minutes after our meet time, when the bum standing by the restroom approached me. As the bum came up to me, I speculated that the guy behind full beard and long, dirty hair had done to many acid trips in his lifetime. The guy that resembled a bum owned a beat-up van, and we went to the back of the beat-up van, and the guy brought a small, old, brown leather suitcase out. He positioned the suitcase so that when he opened it I could not see the inside of it clearly. The bum handed me a very good copy of Superman #1. When he handed me the book, I felt that the weight of the book was light, and I told him, “The book is incomplete!” To my amazement, he then handed me another Superman #1, and I glanced at it. The weight of this Superman #1 was good, but when I flipped through the pages, I noticed that a coupon from one of the pages had been cut out. I said, “There is no way I’m paying for $500 for this piece of !” He said, “Alright. Now this is my best copy that I own.” He then pulled out ANOTHER Superman #1 and the grade of this one was a fine/very fine copy. I desperately tried to buy what else had, and he freaked out, and didn’t let me see what else he had. The only book that I purchased from this mysterious seller was the last copy that he showed me of Superman #1. Two months later, when I looked over the book more closely, I found that a coupon had been cut out of this Superman #1 too! The “King of Comics” had been ripped off! I held on to the book for few years, and then sold the Superman #1 copy to a dealer, which was Hal “Nice Guy of Comics” Verb, for $2000.

 

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(Even comic fandom came after me for my NBC tomorrow show appearance, forgetting about the great exposure and credibility that it gave it gave the comics)

 

Over the years my journeys would take me to people’s houses, warehouses, and even as far away as a farm in Florida. Buying Action #1 comics never got me in trouble, but buying Superman #1 comics always did. In less than one year’s time, another adventure that was the most bizarre adventure of my lifetime would take place.

 

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My fellow collectors, we have journeyed into the past to see the “boy” from Sacramento tell the world that it was “super” to collect comic books. The “boy” told his story of how he fought his entire family and his best friends to become the “King of Comics”. We have also journeyed into the present to see the price of comic books exceeding one million dollars apiece. Also, we have seen the Internet bring together serious collectors, such as yourselves, from all over the world, to become “brothers and sisters” in the comic book world.

 

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I predict that by 2020 a major comic book dealer will team with a criminal international counterfeit ring. The comic book dealer will announce a major discovery of multiple key copies of #1 Gold and Silver comic books. The dealer will send one copy of a real key comic book in for grading to the CGC, and will establish a pedigree. Then, the dealer will sell multiple counterfeit copies of those books to other dealers before the CGC can grade them at a discount. By using this pedigree, this will cause a major worldwide panic in the comic book market, at home and internationally. However, the CGC will devise a way to test the age of a comic book and thus its authenticity, without damaging the comic book. This new test will restore the market to be safer and stronger than the comic book market has ever been before. After this event takes place, the CGC will be required to authenticate all comic books. The dealer associated with this counterfeit will be arrested, convicted, fined, and sent to prison along with all of the multiple criminals that aided the dealer in this dramatic scandal.

 

I predict that in 2020 collectors will look back and say that prices of comic books were really low back in 2011. I also predict that those collectors will also look back with the regret that they should have bought more.

 

I predict that CGC will grade and authenticate all major original comic book art, and will create a public, online data base specifically for comic book art, while including a history of ownership. CGC will place special holographic invisible stamps on the back or front of each piece of art to show authenticity. This invisible stamp, unless special glasses are used, will eliminate the need for any plastic containers to house the art.

 

I predict that a wave of anti-violence will sweep the nation by attacking movies, video games, and comic books because they will be the “root of all evil”. There will be an attempt to ban and limit vintage comic book sales, as well as electronic comic book. As a result of the movement, a comic book rating system will be developed and applied to every comic book, which is very similar to the MPAA. This new system will require age verification and CGC recognition on its holders.

 

I predict that before 2020 there will be a sale of comic book, which will be the first to exceed $5,000,000. I predict that the major comic book buyers of 2020 will be museums, private foundations, and celebrities. In a single comic book auction, hosted by Heritage Auctions, the total sales will exceed $20,000,000.

 

I predict that before 2020 a number of serious international collectors and buyers will come to America in attempt to buy a number of major comic book collections throughout the nation. These international buyers will be offering to purchase them at a major premium over current market prices.

 

I predict that before 2020 a major comic book collection will tour the world’s finest museums, and create a worldwide sensation. This sensation will raise the comic world into the fine art world. The price and demand of premium key issues will dramatically rise after the exhibition.

 

I predict before 2020 that there will be a major shortage of poor condition key comic books due to a number of individuals will buy all of them up. They will sell either the cover or individual pages in attractive custom frames, along with a reproduction copy of the comic book. Upscale art galleries all over the world, comic book dealers, and action houses will sell the pages. The price of a single page from Action comic #1, with Superman in the page, will bring $25,000 at auction and or private sale. This will make headlines in the collecting world.

 

THE FIVE GRAILS OF 2020:

 

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Upon reading an interesting article in the Hollywood Reporter titled “Hollywood Heist: How a Burglary May Impact the Future of Superman”. The first line of the article stunned me: “The billion dollar battle over who controls the Superman franchise is now in its second decade”. That’s right. Billion of dollars for the rights to a single comic book character is now being issued.

 

The reasons why this book fly’s higher than any other comic book is:

#1- History has concluded that this was the super hero “comic book” that started it all.

#2- Action #1 is greatest comic book ever.

#3- Action #1 is the “standard” which serious collectors use to compare all other comic books.

#4 – Action #1 is very rare in Museum quality condition.

 

If you own this book, do not EVER sell or trade it.

 

Rule: Once you sell your Action #1, it always cost you more money to get it back, and then that’s only if you are able to afford to buy it back at the time you want it back.

 

I would recommend to every serious comic book collector, if they have the resources, to buy any Action #1 in any condition unrestored, even if it’s coverless, but only if its graded by the CGC. If you cannot afford to buy an unrestored copy, then buy a restored copy, with a preference to light repair work on the book. Action #1, in any condition, will give the greatest return for every comic dollar invested in it.

 

Grail Ranking: “Tier 1” Projected 2020 Value Grade 9.0 or above = 10+ million/ Grade 7.5 or above = 5.0+ million/ Grade 5.0 = 3+million/ Grade 2.0 = 1+ million.

 

#2 Grail of 2020:

 

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Amazing Fantasy #15 as it is clearly the second most valuable book in 2020, as it is very similar to Action #1:

#1 - This comic book started it all that resulted in the creation of the modern superhero.

#2 - The cover and story of AF #15 is one of the greatest comic books ever created.

#3 - AF#15 is very rare in museum quality condition.

 

Every serious collector, even one on a tight budget, can obtain an unrestored copy at a reasonable price. This is going to change in 2020 dramatically. Bob Overstreet’s attempt to put this book in a different age category of silver comics vs. gold comics cannot change history, or stop the value of this book going to the very top in value. In 2020, the age difference between Golden age and Silver age comic books will not be so far distant in time looking back from 2020. Every serious collector should own an unrestored copy with the condition being 2.0+ depending on what they can afford. However, I do not advise to purchase any high grade restored copies of Amazing Fantasy #15, but instead buy it in a lower grade, unrestored.

 

If you own this book and it is unrestored, do not sell or trade unless you upgrade to a better copy, or go from restored to unrestored.

 

Grail ranking: “Tier 1” Projected 2020 value 9.6 or above = 10 million/ 9.4 = 4+ million/ 9.2 = 2+ million.

 

#3 Grail of 2020:

 

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Detective #27 is clearly third. However, while this book is landmark for the Batman fans, the book did not come out until 1939, which was well after the first publication of Action #1. Pre-robin books are especially great with Detective #31 being my 3rd all time favorite comic book cover. The book would rank higher with that cover on #27. Buy any copy you can afford, even coverless, as all values will rise by 2020. High-grade copies are hard to find because what kid would not buy it and read it many times.

 

Do not buy this book restored, unless it only has minor repair

 

Looking back from 2020, the greatest appreciation will made on lower-grade, unrestored copies as the prices were the lowest.

 

If you own an unrestored copy, do NOT sell of trade this book.

If you can buy an unrestored copy, do it.

 

Grail ranking: “Tier 2” Projected 2020 value Grade 9.0 = 5 +million, Grade 8.5 = 3- million, Grade 7.5 = 2+ million.

 

#4 Grail of 2020: TIE

 

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Amazing Spiderman #1 is shooting up like a rocket. Looking back from 2020, the book in very high grade will break records every year from 2011. Buy any copy, even fair condition only if unrestored.

 

Warning: do not buy this book if restored, there are too many unrestored copies available. Purchase it in lower grade unrestored until it becomes unobtainable, and then buy the restored copies.

 

Grail Ranking “Tier 2” Projected 2020 value 9.6 or above = 5+ million/ Grade 9.4 = 1.5 million/ Grade 9.2 = 1 million.

 

#4 Grail of 2020: TIE

 

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Superman #1 contains the expanded origin of superman, and as well as Action comics #1-4. A very popular book and great read. Superman #1 is very rare in super high grade.

 

Warning: There are a very large amount of Superman #1 comic books that have not been reported to the CGC for grading. These issues are in lower grade condition that is below 5.0. Be careful on the price you pay for a 1.5-4.5 unrestored copy, There will be large number copies made public in the future, and will be sold on the market at or near the same time from more than one owner. Buy either a high-grade copy 5.0 or above, if possible. Stay away for any restored issues based on the facts above.

 

Grail ranking: Tier 2 ONLY in high grade. 2020 projected value 9.0 or above = 5 million, 8.5 or above = 2 million, 8.0 or above = 1+ million (Note: subject to change downward due to market conditions and oversupply).

 

#5 Grail of 2020:

 

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Captain America #1 is both an origin issues, as well his as first appearance. Page for page, this is the best read of any golden age key. The cover is flat out amazing, the art, the story, the feel of this book makes collecting what its all. This book is a buy recommendation both in unrestored and restored in any condition. It’s a masterpiece, which looking back to 2011 was the most underpriced golden age key book. The only reason why this is not ranked higher is the year it came out which was 1941.

 

Grail Ranking: “Tier 3” 2020 projected value grade 9.0 or above = 5+ million, Grade 8.5 or above = 2+ million, Grade 8.0 = 1+ million.

 

For WE believe in" truth" and are proud to show our love, honor, and respect for all comic books and comic art.

 

For WE believe in" justice" in dealing fairly and honestly with our fellow collectors, while the CGC protects our investments and collections.

 

While in the past it was the “American way”, today the whole world and WE believe in the “international way.” Under God, indivisible, with liberty, and justice for all in the comic book world.

 

For we TRUE comic book collectors are KING.

 

Goodbye,

Mitch Mehdy

Some interesting predictions about 2020 from 9 years ago  

 

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I remember those days in Hollywood too. I was at Cherokee books one day when Burt Blum whipped out an un-bagged Action #1 plopped it on the table and told me $350 and it’s yours. Might as well have been a million bucks at the time. Mitch recalls that that Action #1 cost the same as his Mustang. I was buying $5. ECs and driving a beat up 1958 VW Panel truck. I was probably making $2.50 an hour. Sounds like we came from different sides of the track. It’s all relative...

My biggest purchase of that era was a mid grade More Fun 52 for $100. From Steve at Bond Street Books around the corner. It probably took me a year to pay it off. 

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2 hours ago, Lukesaurus said:

Some interesting predictions about 2020 from 9 years ago  

 

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. 

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1 hour ago, Robot Man said:

I remember those days in Hollywood too. I was at Cherokee books one day

Yup, I remember 'em too.  I used to work at Motown Records on Sunset in the early '70's, and would occasionally venture over to Hollywood Blvd on my lunch hour.  Bagged a few comics from other bookstores, but Cherokee had the largest number available, although it wasn't really very much.  I remember going to the back counter, and asking for any pre code books, and he put a small cardboard box on the counter with maybe two dozen raw books in it.  They were all two bucks apiece, and in a variety of grades, from maybe G to F.  Raising a family at the time I didn't have a whole lotta scratch, but was able to buy once or twice, maybe a dozen books total.  Most of 'em were Atlas's.  My car was a 1970 Ford Maverick, stripped (three on the tree, no radio until I put one in).

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7 minutes ago, fifties said:

Yup, I remember 'em too.  I used to work at Motown Records on Sunset in the early '70's, and would occasionally venture over to Hollywood Blvd on my lunch hour.  Bagged a few comics from other bookstores, but Cherokee had the largest number available, although it wasn't really very much.  I remember going to the back counter, and asking for any pre code books, and he put a small cardboard box on the counter with maybe two dozen raw books in it.  They were all two bucks apiece, and in a variety of grades, from maybe G to F.  Raising a family at the time I didn't have a whole lotta scratch, but was able to buy once or twice, maybe a dozen books total.  Most of 'em were Atlas's.  My car was a 1970 Ford Maverick, stripped (three on the tree, no radio until I put one in).

In the late 1960's, PCH (other than ECs) were in the upstairs hallway priced at 50 cents to a dollar. I would stack as many up as my $25. dollar budget would allow and bring them into Burt's "sancutary". He was a bit of a stoner so if you brought him a "funny cigarette", he might let you look at the ECs and get a little discount. Those were priced from $3-$8. each or so.

I liked Bond Street books a lot more. Around the corner from Collectors and Cherokee. Steve Edrington was a cool guy that always had time for kids interested in the"old stuff". Got my More Fun #52 and All Flash #1 from him on time payments.

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On 3/15/2020 at 1:18 PM, jimbo_7071 said:

People might still be willing to sell their good stuff for 2018 prices, but you won't see much top-notch material in the no-reserve auctions. People won't risk offering it that way unless they have to.

I disagree! My lot just went live and I submitted maybe January? https://comics.ha.com/c/search-results.zx?N=52+793+794+791+1893+792+2088+4294944265+4294967007&type=friend-consignorlive-notice

 

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Posted (edited)

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?

 

Edited by Mmehdy

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That all seems like a trying to time a market that cannot yet be predicted. 

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Posted (edited)
1 hour 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?

 

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.

Edited by Axmen

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7 minutes ago, Axmen said:

Hmm - Seems like this is what I brought up on page 22 and was slapped down quite resoundly and 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.

Re SAC..Beer's bookstore was heaven to me. ESPECIALLY 1966..every Sat it was an adventure beyond words. I did  some grade,junior, HS and ARC, McGeorge...great place to grow up...it different now...wow what a place.

 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.

 

 

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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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2 hours ago, Ryan. said:

That all seems like a trying to time a market that cannot yet be predicted. 

How dare you be so succinct! lol

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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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4 minutes ago, pemart1966 said:

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

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

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