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IN THE ERA OF COVID19...BUYER'S MARKET?
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662 posts in this topic

Been following comic connect. Haven't seen a good deal on any keys. A lot of common ones are going for higher than Ebay prices. I don't know what the ST 89 hammered for. With 10 minutes left it was a grand under but my friend is looking for one and neither one of us thought it was a 8.0 so he passed. Only thing I even clicked on. Even 25% off isnt getting my business. I can easily see market coming down on a lot of books, but not until August at earliest. Probably another stimulus check coming. 

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On 5/19/2020 at 6:18 AM, Hollywood1892 said:

Well for example before a sale on HA a 9.8 of ASM 50 was $34,000 because of the sales premium on HA after auction the book was $58,000.

Not sure what kind of arithmetic or math you are using here if you are referring to a hammer price of $34K and then a final price of $58K?  ???

Especially since the Heritage BP is only 20% which would bring it up to $40,800 which would then require taxes of 42% to bring it up to your $58K final total.  hm  :screwy:

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On 5/20/2020 at 7:55 AM, theCapraAegagrus said:
On 5/20/2020 at 7:53 AM, Hollywood1892 said:

Where in that entire article was pandemics or recessions mentioned?

That is the entire point of this thread

Even when there is no pandemic those threats will still exists, those threats will always exists, but if your in the game for a quick flip, best of luck

Your assertion: "...the value of collectibles arent affected by the downturn in a market the same way stocks are..."

And yet during this pandemic and current high unemployment situation, the stock markets are back within 10% or in the case of the Nasdaq, only a few percentage points away from their all-time highs once again.  hm  :screwy:

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57 minutes ago, lou_fine said:

Not sure what kind of arithmetic or math you are using here if you are referring to a hammer price of $34K and then a final price of $58K?  ???

Especially since the Heritage BP is only 20% which would bring it up to $40,800 which would then require taxes of 42% to bring it up to your $58K final total.  hm  :screwy:

No!

The book sold at Heritage  for 58k I have no idea the buyers premium or final hammer price...but prior to that the highest 9.8 sold for 34K (no idea where that particular book sold, so it is 2 different copies of the same book)

Just like a Jimmy olsen 134 9.8 was 4K a few months ago then a copy sold for 16K changing the FMV of the book...

Or a TMNT 1 selling for 90K when once FMV on the book was 34K

The ASM 50 sold for 58K during Covid19

Having gone back and re read my post, I should have been clearer

Edited by Hollywood1892
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47 minutes ago, lou_fine said:

And yet during this pandemic and current high unemployment situation, the stock markets are back within 10% or in the case of the Nasdaq, only a few percentage points away from their all-time highs once again.  hm  :screwy:

Sounds like recessions are going to happen when they want to happen not when we think they are going to happen 

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14 minutes ago, Hollywood1892 said:

What I said or the fact there is a recession?

Recessions aren't capable of happening when they want to happen. They aren't sitting around with their peers discussing timing. I suspect you meant something else. :) 

For what it's worth, economists have noted that we've been due for a recession the last couple of years, but the bull market kept defying that. It wasn't a matter of if, it was just when and how.

Scientists have been warning of a pandemic since ebola and SARS. Also not a matter of if, but when and how.

I consume a lot of news, and it was evident in December that this pandemic was coming. Unfortunately, leaders from top to bottom did little to nothing about it.

For those people who do long-term planning for this kind of thing, they don't know precisely when, but they know it's coming sooner or later. Large companies have risk managers who develop disaster readiness plans. Governments do this, too, of course. How well either of those entities do it is another question, and not really the concern on this particular point.

Edited by DavidTheDavid
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15 minutes ago, DavidTheDavid said:

Recessions aren't capable of happening when they want to happen. They aren't sitting around with their peers discussing timing. I suspect you meant something else. :) 

For what it's worth, economists have noted that we've been due for a recession the last couple of years, but the bull market kept defying that. It wasn't a matter of if, it was just when and how.

Scientists have been warning of a pandemic since ebola and SARS. Also not a matter of if, but when and how.

I consume a lot of news, and it was evident in December that this pandemic was coming. Unfortunately, leaders from top to bottom did little to nothing about it.

For those people who do long-term planning for this kind of thing, they don't know precisely when, but they know it's coming sooner or later. Large companies have risk managers who develop disaster readiness plans. Governments do this, too, of course. How well either of those entities do it is another question, and not really the concern on this particular point.

What I meant was a recession will occur but might not neccesarily be attributed to the pandemic

I am on the periphery of economics, which means I understand a few things but not the entire scope, nor do I claim to know it

ie I've read Friedman, Ayn Rand, Adam Smith, Jim Kramer ect ect

As I have stated before I don't think the value of collectibles will be affected in the same way as stocks/bonds/GICs/RRSPs/401ks, because it is on the other end of the spectrum from the 'needs' of our society versus the 'wants'. I think people will buy less if there is a downturn in the economy, and that impacts the seller more then the buyer. A LCS is affected in a prosperous economy by its overhead costs, but it will be devastated by a recession, so will sellers relying on their products, but people who can sit on their collections won't be. The FMV will be affected only when people start selling their comics to survive

I'm not sure of the chaotic nature of collectibles compared to say Fusion Energy or other forms of technology

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1 hour ago, DavidTheDavid said:

I would love for a real economist to study this. I anticipate volumes of research related to the pandemic for years to come across all fields of human activity. Hopefully, someone with expertise takes up collectibles.

I would too, speculation causes nothing but fear

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4 minutes ago, Hollywood1892 said:

I would too, speculation causes nothing but fear

Only for the fearful imho. Those who can engage in thoughtful, informed speculation with an understanding of the limits around that speculation: those people can have fruitful conversations.

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52 minutes ago, DavidTheDavid said:

Only for the fearful imho. Those who can engage in thoughtful, informed speculation with an understanding of the limits around that speculation: those people can have fruitful conversations.

Exactly... I myself have continued to collect during these times...I've focused mostly on silverage and actually I have purchased about 6 books during the pandemic

1 copper

5 Silverage

And out of the 6 5 of them have been Spidey first appearances of villains

Edited by Hollywood1892
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I've purchased way too many. More than my usual imprudence already allows. Lots of good deals. Like I said earlier, no screaming deals, but ones worth grabbing for me. I'm buying for my collection, not to flip, so I'm happy to let them ride out what I still anticipate being a downturn in the coming months.

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35 minutes ago, DavidTheDavid said:

I've purchased way too many. More than my usual imprudence already allows. Lots of good deals. Like I said earlier, no screaming deals, but ones worth grabbing for me. I'm buying for my collection, not to flip, so I'm happy to let them ride out what I still anticipate being a downturn in the coming months.

Me too

Collecting is a long game and I'm patient

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That ASM 50 was $46k hammer and 55k AFTER buyers premium.  Boggles my mind prices are 7x higher from 9.4 to 9.8.  There's only 7 9.8's on the census and then 14 9.6's and 53 9.4's.  Is a 700% difference really justified to be in the top 0.2%tile instead of the top 2.1%tile?  The people who buy these are a bit like the people who buy the 2 million dollar special edition Ferrari's instead of buying themselves 10 different Ferrari's for 200k each. It just becomes a "look at me I have the best one ever made" contest... at least with Ferrari's you know how many they made... and there aren't a pile of 9.8's waiting to be graded in someone's closet.
  

7fE2ued.jpg

ZMhMs6J.jpg

 

Edited by 90sChild
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52 minutes ago, 90sChild said:

That ASM 50 was $46k hammer and 55k AFTER buyers premium.  Boggles my mind prices are 7x higher from 9.4 to 9.8.  There's only 7 9.8's on the census and then 14 9.6's and 53 9.4's.  Is a 700% difference really justified to be in the top 0.2%tile instead of the top 2.1%tile?  The people who buy these are a bit like the people who buy the 2 million dollar special edition Ferrari's instead of buying themselves 10 different Ferrari's for 200k each. It just becomes a "look at me I have the best one ever made" contest... at least with Ferrari's you know how many they made... and there aren't a pile of 9.8's waiting to be graded in someone's closet.
  

7fE2ued.jpg

ZMhMs6J.jpg

 

visually there might not be much noticeable difference from encased slabbed 9.4 to 9.6 to 9.8s.. you're just paying the assigned numeric grade

Edited by littledoom
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