GA COMIC BOOK Collecting in the Financial crisis of 2020 3 3

[lou_fine]

4 hours ago, SuperBird said:

1140 for a 6.0 Action 51 seems high to me actually. 

Actually, all of the links which october posted looked to be pretty strong from my point of view.  

[GreatCaesarsGhost]

6 hours ago, Mmehdy said:

I agree with you Lou and a second check will probably be sent out and possible a third. But the persons who are buying today and risking today are gambling that this thing is gonna be over quickly. That is not in the cards here as GA/SA prices will have to contend with this virus and its effects for the next 12-18 months minimum. Socialist or not , I believe these checks need to be given out, whether its more GA for your collection or food on your table. But Lou, over time those funds are gonna run out whether its $1200 or $12,000 too and additional Checks and works programs are gonna be needed to help those in need.

 At some point, when the giveaways are over we are gonna face a new issue and that is payback, there is no such thing as a free lunch as my grandfather used to say. Economic stability is essential for GA/SA  consistent price growth over time. It is gonna a while before we ever achieve that, and my best guess is 3 years and then the road up again on GA/SA prices which should take another two years or so. What that means, Lou is if you buy any GA/SA TODAY you had better be able to hold for a minimum of 3 years and probably 5 years to see any light at the end of the tunnel. We a looking at a inflation monster coming down the road. but that is another issue, another fight, and another reality. Just be especially careful in your current GA/SA purchases from this point forward, that is all I am saying and be picky...buy but buy quality not quantity .that's the spirit.

Yours is a lone but persistent voice. It’s a voice I happen to agree with

[Ryan.]

Perhaps the types of buyers that tend to chase GA are those who have the sustainable means to do so, including the kind of work that can be done remotely, and are thus less likely to be economically impacted by the pandemic. 

[KCOComics]

1 hour ago, Ryan. said:

Perhaps the types of buyers that tend to chase GA are those who have the sustainable means to do so, including the kind of work that can be done remotely, and are thus less likely to be economically impacted by the pandemic. 

I think this is a fair point in the short term.  If Gilead's treatment works out and by June we are seeing the economy open,  allot of GA collectors probably won't be impacted to the degree others are. 

However,  if we go into a prolonged recession a larger segment of people will feel the impact.

The other thing is, even people who don't feel their job as at risk may be more cautious with discretionary spending.  

[Ryan.]

3 minutes ago, KCOComics said:

I think this is a fair point in the short term.  If Gilead's treatment works out and by June we are seeing the economy open,  allot of GA collectors probably won't be impacted to the degree others are. 

However,  if we go into a prolonged recession a larger segment of people will feel the impact.

The other thing is, even people who don't feel their job as at risk may be more cautious with discretionary spending.  

No doubt. If this goes on for a long time, everyone is affected. 

As for your last point, it is true that those who are in the best financial positions are also often those who spend their money cautiously. 

[fishbone]

With all due respect, can I ask what makes up your personal collection Mr. Mitch - I notice you post a lot of commentary regarding the GA market here on these boards, but do you post your books somewhere on this chat Board? I can't remember any posts or mentions of what you have? Maybe that's private, that's fine, but I understand you made a really big purchase once back in the 70's - do you still have that Action #1? Do you have any mega keys ?

Just have a lot of time on my hands and  really curious. Post away, or if totally private info then my bad. 

[lou_fine]

2 hours ago, fishbone said:

but I understand you made a really big purchase once back in the 70's - do you still have that Action #1? Do you have any mega keys ?

I believe he posted here in one of his many previous posts that he already sold that copy of Action 1 and did a possible upgrade on it or something like that.  

I am quite sure that he does have some of the mega keys, but best to leave him to answer that if he wants. 

Definitely not necessary though due to personal privacy preferences as everybody's thinking is different.  

Edited April 30, 2020 by lou_fine

[Mmehdy]

HA.Com has shown how powerful they were today in the comic book GA/SA  world by getting over $5,180,000 in a single day. Sure there were some great deals like Tect #2- 6.5 at 15K and that was a great copy. There was some prices which are well 10X or greater guide for mid range x-men with multiple copies in the same condition. I would be very careful on purchases such as  those as they stand to have the greatest risk of price deflation, especially as time on go on.To get great deals, early on in this crisis you are gonna have to carefully pick and chose and timing is gonna be have to be exact on making the right purchase and at the right price for your collection.  As reality sets in and we can carefully study the full effects of the damage to the world economy that should give us a clue as to what extent and how long will GA/SA prices decline and also determine our buying strategy time wise.

 I would sell and probably use HA. com  now, if you want to buy at bottom with the most amount of fire power, last December would have been better for selling but that is hindsight. HA seems at this point to be invincible and might be proper place to go for sales, for buying time will tell but i all about  the timing.

Edited April 30, 2020 by Mmehdy

[KCOComics]

1 hour ago, Mmehdy said:

HA.Com has shown how powerful they were today in the comic book GA/SA  world by getting over $5,180,000 in a single day. Sure there were some great deals like Tect #2- 6.5 at 15K and that was a great copy. There was some prices which are well 10X or greater guide for mid range x-men with multiple copies in the same condition. I would be very careful on purchases such as  those as they stand to have the greatest risk of price deflation, especially as time on go on.To get great deals, early on in this crisis you are gonna have to carefully pick and chose and timing is gonna be have to be exact on making the right purchase and at the right price for your collection.  As reality sets in and we can carefully study the full effects of the damage to the world economy that should give us a clue as to what extent and how long will GA/SA prices decline and also determine our buying strategy time wise.

 I would sell and probably use HA. com  now, if you want to buy at bottom with the most amount of fire power, last December would have been better for selling but that is hindsight. HA seems at this point to be invincible and might be proper place to go for sales, for buying time will tell but i all about  the timing.

I was surprised at some of the prices coming in. 

I was winning the Tec 2 1.8 until the live auction started.  Then I was blown away pretty quickly.  Still some great books out there. 

[Mmehdy]

30 minutes ago, KCOComics said:

I was surprised at some of the prices coming in. 

I was winning the Tec 2 1.8 until the live auction started.  Then I was blown away pretty quickly.  Still some great books out there. 

sorry that you lost, but check out the Sat auction for GA/SA there is some good stuff there, something bound to get lost

[bluechip]

2 hours ago, Mmehdy said:

HA.Com has shown how powerful they were today in the comic book GA/SA  world by getting over $5,180,000 in a single day. Sure there were some great deals like Tect #2- 6.5 at 15K and that was a great copy. There was some prices which are well 10X or greater guide for mid range x-men with multiple copies in the same condition. I would be very careful on purchases such as  those as they stand to have the greatest risk of price deflation, especially as time on go on.To get great deals, early on in this crisis you are gonna have to carefully pick and chose and timing is gonna be have to be exact on making the right purchase and at the right price for your collection.  As reality sets in and we can carefully study the full effects of the damage to the world economy that should give us a clue as to what extent and how long will GA/SA prices decline and also determine our buying strategy time wise.

 I would sell and probably use HA. com  now, if you want to buy at bottom with the most amount of fire power, last December would have been better for selling but that is hindsight. HA seems at this point to be invincible and might be proper place to go for sales, for buying time will tell but i all about  the timing.

Sometimes I agree with you but whenever you predict ups or downs you always say that buying "quality" is the way to go and then it becomes clear that you largely define quality as something like a "Detective comics #2" and lack-of-quality as a key book that virtually everybody in the world would likely recognize, but has been 'ruined' by a tear seal.   If you are talking only about the most insider, insular esoteric-loving-"restoration"-hating old school collectors, than you may be right that. 

The hobby is made up of many other types of people.    But your prognostications always presume the only viability and security in the hobby are, and will always remain, with the group that values the specific and narrow things you like (and have).  Sales up?  Sales down?  Market up?  Market own?   Virus?  Boom times?   Whatever is going, Mitch says you can't go wrong buying Barks paintings and high grade 'unrestored' golden age, even if it's a title (and characters) virtually known by 99.9% of people.    

I would be more on board with you if you were emphasizing caution in accumulating stacks of bronze age book, or forbearance in amassing warehouses of "highest graded" slabs of modern sketch cover dealer variants,   Then you're talking about what's actually rare and what's not, and you're talking about individual price points that mean the speculators include a higher number of people at the lower end of disposable income.  

But aside from those folk there are not just old schoolers like yourself; there also are people whose interests in comics and art starts not with comic books and then branches into the specific characters.  It starts (and sometimes ends) with the characters they have come to know and love through other media.  And they want a comic (or art) and are willing to pay for it because it's a cool (and sometimes rare) piece of that character's history/formation, etc.

If I'm wrong, then one of your favorite books, Cap 1, has not risen in value because the character became much more widely known and beloved in recent years, but because a lot of old school Timely collectors have filled the holes in their collections of "Daring Mystery" and are now looking for the next Timely to collect.  

 

[waaaghboss]

25 minutes ago, Mmehdy said:

sorry that you lost, but check out the Sat auction for GA/SA there is some good stuff there, something bound to get lost

I'm eyeballing the 1st Pluto apperance, but it will probably shoot to double what I can afford

[GreatCaesarsGhost]

39 minutes ago, bluechip said:

Sometimes I agree with you but whenever you predict ups or downs you always say that buying "quality" is the way to go and then it becomes clear that you largely define quality as something like a "Detective comics #2" and lack-of-quality as a key book that virtually everybody in the world would likely recognize, but has been 'ruined' by a tear seal.   If you are talking only about the most insider, insular esoteric-loving-"restoration"-hating old school collectors, than you may be right that. 

The hobby is made up of many other types of people.    But your prognostications always presume the only viability and security in the hobby are, and will always remain, with the group that values the specific and narrow things you like (and have).  Sales up?  Sales down?  Market up?  Market own?   Virus?  Boom times?   Whatever is going, Mitch says you can't go wrong buying Barks paintings and high grade 'unrestored' golden age, even if it's a title (and characters) virtually known by 99.9% of people.    

I would be more on board with you if you were emphasizing caution in accumulating stacks of bronze age book, or forbearance in amassing warehouses of "highest graded" slabs of modern sketch cover dealer variants,   Then you're talking about what's actually rare and what's not, and you're talking about individual price points that mean the speculators include a higher number of people at the lower end of disposable income.  

But aside from those folk there are not just old schoolers like yourself; there also are people whose interests in comics and art starts not with comic books and then branches into the specific characters.  It starts (and sometimes ends) with the characters they have come to know and love through other media.  And they want a comic (or art) and are willing to pay for it because it's a cool (and sometimes rare) piece of that character's history/formation, etc.

If I'm wrong, then one of your favorite books, Cap 1, has not risen in value because the character became much more widely known and beloved in recent years, but because a lot of old school Timely collectors have filled the holes in their collections of "Daring Mystery" and are now looking for the next Timely to collect.  

 

Jesus Christ, did that feel good?

[bluechip]

6 minutes ago, GreatCaesarsGhost said:

Jesus Christ, did that feel good?

With that set up I can't resist the old punch line:  You don't have to call me Jesus.  

[KCOComics]

1 hour ago, bluechip said:

Sometimes I agree with you but whenever you predict ups or downs you always say that buying "quality" is the way to go and then it becomes clear that you largely define quality as something like a "Detective comics #2" and lack-of-quality as a key book that virtually everybody in the world would likely recognize, but has been 'ruined' by a tear seal.   If you are talking only about the most insider, insular esoteric-loving-"restoration"-hating old school collectors, than you may be right that. 

The hobby is made up of many other types of people.    But your prognostications always presume the only viability and security in the hobby are, and will always remain, with the group that values the specific and narrow things you like (and have).  Sales up?  Sales down?  Market up?  Market own?   Virus?  Boom times?   Whatever is going, Mitch says you can't go wrong buying Barks paintings and high grade 'unrestored' golden age, even if it's a title (and characters) virtually known by 99.9% of people.    

I would be more on board with you if you were emphasizing caution in accumulating stacks of bronze age book, or forbearance in amassing warehouses of "highest graded" slabs of modern sketch cover dealer variants,   Then you're talking about what's actually rare and what's not, and you're talking about individual price points that mean the speculators include a higher number of people at the lower end of disposable income.  

But aside from those folk there are not just old schoolers like yourself; there also are people whose interests in comics and art starts not with comic books and then branches into the specific characters.  It starts (and sometimes ends) with the characters they have come to know and love through other media.  And they want a comic (or art) and are willing to pay for it because it's a cool (and sometimes rare) piece of that character's history/formation, etc.

If I'm wrong, then one of your favorite books, Cap 1, has not risen in value because the character became much more widely known and beloved in recent years, but because a lot of old school Timely collectors have filled the holes in their collections of "Daring Mystery" and are now looking for the next Timely to collect.  

 

All I'll say is,  to each their own. 

Lots of different collectors and lots of different opinions.  I personally appreciate Mitch's perspective.

He's been doing this since before I was born and at the very least his theories are backed by sound reasoning and experience.  Maybe he'll be proven wrong,  but without a crystal ball we all run that risk.  

 

[KCOComics]

1 hour ago, Mmehdy said:

sorry that you lost, but check out the Sat auction for GA/SA there is some good stuff there, something bound to get lost

I think I'm going to hang low for a bit and see how the next few months play out. I think some great buying opportunities will present themselves. 

[lou_fine]

6 hours ago, Mmehdy said:

Sure there were some great deals like Tect #2- 6.5 at 15K and that was a great copy.

+1

Definitely agree with you that this was a fantastic deal for the buyer who was able to pick up a nicely presenting copy relative to the assigned CGC grade, and for a truly HTF book at a price point to boot which was just under 60% of condition guide.  

Then again, I guess this is an indication that the pre-hero DC market save for a very limited number of select books has been on the cool side for awhile now.  

Similar in view to this book which I have always thought sported an absolutely superb classic cover by Simon & Kirby:  

This book seems to have fallen on hard times recently and this auction was no exception, with this copy going for a bargain basement price of only $4,560 or at a price point of just a shade over 56% of condition guide.  Of course, there's always the theory that it's best to buy books at a huge discount (like anything else) when they are out of favor and hopefully wait for them to come back into vogue again, but then I imagine that really depends upon how patient you are.      

Edited May 1, 2020 by lou_fine

[lou_fine]

6 hours ago, Mmehdy said:

 I would sell and probably use HA. com  now, if you want to buy at bottom with the most amount of fire power, last December would have been better for selling but that is hindsight.

Mitch;

Although you've been expounding this SELL NOW strategy and BUY BACK LATER at lower prices to board members here, it's really kind of hard for us to take it too seriously in light of the fact that you yourself are not adopting this strategy since it sounds as though you are simply holding onto all of your own personal books.    

[fishbone]

12 hours ago, lou_fine said:

Mitch;

Although you've been expounding this SELL NOW strategy and BUY BACK LATER at lower prices to board members here, it's really kind of hard for us to take it too seriously in light of the fact that you yourself are not adopting this strategy since it sounds as though you are simply holding onto all of your own personal books.    

I think this speaks to the point I was trying to make. To each their own, but for some on here that have a lot of opinions about the hobby - I mean a LOT -- who start their own threads and type and type and type,  you'd think they'd share just a bit of their personal stuff  if they were true collectors. Again, I could be way off base, but just my 2 cents. 

The Dentist has THE best collection apparently, but even though he is not on here, and not sharing, that I can respect. But even with him, we all know what he has, even if he isn't on here posting and sharing. Some others, I don't know, I just think I'd "respect" their opinions more if they were still active today in some way.   

[KCOComics]

2 hours ago, fishbone said:

 Some others, I don't know, I just think I'd "respect" their opinions more if they were still active today in some way.   

I'm not sure I see the correlation between his private collection and his right to have an opinion about the comic book market.  

If you don't like all his typing,  don't read it. 

I don't have nearly the collection of allot of guys on these boards. I've never even seen an Action comics 1 in person.  But I have been around comic books my entire life and activly collecting since I was 18... way before it was cool.  The hobby has gone places I never imagined. Access and how / where you buy have modernized. While my collection may not impress allot of the hardened golden age collectors on these boards, my experiences give me perspective that some may be interested in.  

I could care less about his private collection. He has the right to share what he wants to share. His opinion is backed by experience and perspective that out weigh my own and I think it is short sighted to discount people who don't brag about their collection.