MCS - new consignment terms 0

[shadroch]

2 hours ago, Poka said:

Seems I am in a minority but as a seller using MCS for consignments I will for the time being stop consigning more items to MCS (and I have informed Este and Conan of the same). While I price my items to sell and do auctions quite a few I do not wish to end up in a situation where I need to do a firesale. would be great if @Mycomicshop could consider to exempt sellers which generates a minimum turnover at a level to be decided by MCS from the storage fees.

I also see the new policy to reduce MCS's range of slabs for consignment but will probably sell more

 

 I suspect some people are using MCS to store their expensive slabs. Rather than insure the books and keep them, they ship them to MCS where they get free insurance and storage. I think the time limits they are offering are pretty fair. I've only had one book sitting on consignment for almost a year. A Green Lantern 1 that I overpaid for.  It's not really fair that MCS houses and insures this with little expectation of ever making a dime off it. 

[Black_Adam]

1 hour ago, shadroch said:

 I suspect some people are using MCS to store their expensive slabs. Rather than insure the books and keep them, they ship them to MCS where they get free insurance and storage. I think the time limits they are offering are pretty fair. I've only had one book sitting on consignment for almost a year. A Green Lantern 1 that I overpaid for.  It's not really fair that MCS houses and insures this with little expectation of ever making a dime off it. 

I know of at least one Canadian comic collector (not me) who, when he wins high-value comics in US auctions, has them shipped through a circuitous route to MCS for the aforementioned "free insurance and storage" and to avoid Canadian customs charges and GST (taxes).

[Ryan.]

7 minutes ago, Black_Adam said:

I know of at least one Canadian comic collector (not me) who, when he wins high-value comics in US auctions, has them shipped through a circuitous route to MCS for the aforementioned "free insurance and storage" and to avoid Canadian customs charges and GST (taxes).

There used to be a board member here who had his CGC submissions sent directly from CGC post-grading to MCS.

[Black_Adam]

26 minutes ago, Ryan. said:

There used to be a board member here who had his CGC submissions sent directly from CGC post-grading to MCS.

You can also send raw comics to MCS for them to submit to CGC for grading (and listing on their site once graded). For those of us in Canada intending to send the comics to MCS anyways it saves on the cost of shipping the comics to CGC - paying for FedEx back to Canada - and then additional shipping to MCS. You also get the MCS grading discount and, for those concerned with the tighter grading standards on raw comics at MCS, peace of mind knowing your comic is listed at an accurate grade (as determined by CGC).

[musicmeta]

I would like to commend MCS for coming these boards and explaining their rationale for the new terms.  Nice of them to do this IMHYWO.  
I haven't had a lot of transactions with MCS but everyone I've had has been stellar.  Great service with a friendly staff!! 

[shadroch]

2 hours ago, Black_Adam said:

You can also send raw comics to MCS for them to submit to CGC for grading (and listing on their site once graded). For those of us in Canada intending to send the comics to MCS anyways it saves on the cost of shipping the comics to CGC - paying for FedEx back to Canada - and then additional shipping to MCS. You also get the MCS grading discount and, for those concerned with the tighter grading standards on raw comics at MCS, peace of mind knowing your comic is listed at an accurate grade (as determined by CGC).

I've only done two books like that, but they seemed to get graded and returned faster than my own submissions. 

I won an Avengers 1 they called a 2.0 at their auction, had them send it to CGC and it graded a 4.0.  A three month flip that paid off berry, berry well.

Edited June 4, 2020 by shadroch

[roach04]

9 hours ago, Black_Adam said:

I know of at least one Canadian comic collector (not me) who, when he wins high-value comics in US auctions, has them shipped through a circuitous route to MCS for the aforementioned "free insurance and storage" and to avoid Canadian customs charges and GST (taxes).

This is a brilliant idea.  I am upset I didn't think of it!!

[Wally's Comics]

13 hours ago, Poka said:

would be great if @Mycomicshop could consider to exempt sellers which generates a minimum turnover at a level to be decided by MCS from the storage fees.

BINGO! You would think that if you are making a solid percentage of sales it wouldn't matter what space you were taking up.

You are not alone Poka!

Anyone that knows the comic business knows that it is cyclical what is cold today can be blown up tomorrow.

I personally don't think I price my stock sky high, but I don't price it too cheap either.

[shadroch]

9 minutes ago, Wally's Comics said:

BINGO! You would think that if you are making a solid percentage of sales it wouldn't matter what space you were taking up.

You are not alone Poka!

Anyone that knows the comic business knows that it is cyclical what is cold today can be blown up tomorrow.

I personally don't think I price my stock sky high, but I don't price it too cheap either.

 

Have you had books sit for a year or more?  Without looking at the charts, I'd say I move 98% of my stuff in six months, with most sold in the first few weeks.

Edited June 5, 2020 by shadroch

[Wally's Comics]

5 minutes ago, shadroch said:

Have you had books sit for a year or more?  Without looking at the charts, I'd say I move 98% of my stuff in six months, with most sold in the first few weeks.

I sure do. Funny thing is I've been flipping A lot of stuff in the last few weeks that have sat for quite awhile.

I've had a FF 1 in CGC 3.0 sit for a full year at 3k and I had a FF 49 8.5 (old label) sit for a full year at $500 and that just two that I pull off the top of my head.

[Wally's Comics]

and for the record, all those that cheering with the notion that all of a sudden the MCS consignment prices will be dropping like rain, think again...

There is solid reason why the prices are what they are, I can assure you. I've been selling there for over 8 years so my knowledge is pretty solid.

Here's the way I see it: #1 - MCS absolutely doesn't like any returns from books (its a loss they incur so I don't blame them). #2 MCS under grades raws big time to avoid returns. Whenever I send in raw books I can guarantee MCS will call it a full one to two grades lower than my grading. I have been grading comics for over 30 years and I have a solid standing here in the grading competitions. I have submitted hundreds of books to CGC and it is ultra rare that I am surprised by a CGC. But on the other hand, MCS will call a VF a Fine or less in a heart beat. Now, how do I deal with this issue you ask? I do the honest "right" thing and price the book on what I think it is.

If this is why you think the raw prices are high. I would employ anyone here to just look at the book and make your own assumption.

I am not trying to throw dirt on one's business practices, it is what it is. I sell so much there I felt that what I was just saying was a no brainer.

 

Peace.

Edited June 5, 2020 by Wally's Comics
editorial

[shadroch]

15 hours ago, Wally's Comics said:

I sure do. Funny thing is I've been flipping A lot of stuff in the last few weeks that have sat for quite awhile.

I've had a FF 1 in CGC 3.0 sit for a full year at 3k and I had a FF 49 8.5 (old label) sit for a full year at $500 and that just two that I pull off the top of my head.

Donut would have flipped that FF in a week, reinvested it and flipped those books in a week, turning your $3,000 book into $25,000 along the way. Is sitting on a book for a year in order to squeeze out another couple hundred dollars worth it?

[Number 6]

2 hours ago, Wally's Comics said:

and for the record, all those that cheering with the notion that all of a sudden the MCS consignment prices will be dropping like rain, think again...

There is solid reason why the prices are what they are, I can assure you. I've been selling there for over 8 years so my knowledge is pretty solid.

Here's the way I see it: #1 - MCS absolutely doesn't like any returns from books (its a loss they incur so I don't blame them). #2 MCS under grades raws big time to avoid returns. Whenever I send in raw books I can guarantee MCS will call it a full one to two grades lower than my grading. I have been grading comics for over 30 years and I have a solid standing here in the grading competitions. I have submitted hundreds of books to CGC and it is ultra rare that I am surprised by a CGC. But on the other hand, MCS will call a VF a Fine or less in a heart beat. Now, how do I deal with this issue you ask? I do the honest "right" thing and price the book on what I think it is.

If this is why you think the raw prices are high. I would employ anyone here to just look at the book and make your own assumption.

I am not trying to throw dirt on one's business practices, it is what it is. I sell so much there I felt that what I was just saying was a no brainer.

 

Peace.

I can’t speak for everyone else, but for me this has absolutely nothing to do with consigned raws on MCS.  I get their  tight grading on raws and why they’re priced the way they are. 
 

The focus of my approval for this has to do with the CGC books that are consigned to MCS for 4-5 times what they sell for on Clink, HA, eBay or anywhere else. 
 

As somebody else pointed out, it seems that more than one person is using MCS to store and insure their CGC collection. 
 

It would be nice to see those consigners either urinate or get off the pot. 

Edited June 5, 2020 by Number 6

[Hamlet]

13 minutes ago, Wally's Comics said:

and for the record, all those that cheering with the notion that all of a sudden the MCS consignment prices will be dropping like rain, think again...

There is solid reason why the prices are what they are, I can assure you. I've been selling there for over 8 years so my knowledge is pretty solid.

Here's the way I see it: #1 - MCS absolutely doesn't like any returns from books (its a loss they incur so I don't blame them). #2 MCS under grades raws big time to avoid returns. Whenever I send in raw books I can guarantee MCS will call it a full one to two grades lower than my grading. I have been grading comics for over 30 years and I have a solid standing here in the grading competitions. I have submitted hundreds of books to CGC and it is ultra rare that I am surprised by a CGC. But on the other hand, MCS will call a VF a Fine or less in a heart beat. Now, how do I deal with this issue you ask? I do the honest "right" thing and price the book on what I think it is.

If this is why you think the raw prices are high. I would employ anyone here to just look at the book and make your own assumption.

I am not trying to throw dirt on one's business practices, it is what it is. I sell so much there I felt that what I was just saying was a no brainer.

 

Peace.

I think there is a difference between pricing books correctly to account of MCS’s often extreme under-grading and the overpricing that leaves books sitting on the site for years.  
 

I think most buyers at MCS have learned to look at the scans and pay up when the book is clearly under-graded.  
 

I see a lot of issues on their site that have 10-20 copies of a book consigned where almost none of them are priced at market.  It happens a lot with spec books that got hot and then cooled off.  None of the owners will auction the books because they know that the market is half what the have them priced at.  How long should MCS be willing to store for free all of the Thor 134 failed flip attempts? 😀

Or the books where MCS has a dozen copies of the book in comparable grade to the consigned book that is priced at twice the MCS price?

I’m a seller on the site as well, so I’m not looking for anything that will force down prices below market.  I have to think that storing and insuring a massive number of books that aren’t likely to ever sell is not sustainable though.

It’s not like they’ve introduced crushing fees.  0.25% per month is not going to force prices down for seller that believes the book will sell at that price.  It will clear out the riff raff listings of people looking for a sucker though.

 

[Wally's Comics]

9 minutes ago, Number 6 said:

The focus of my approval for this has to do with the CGC books that are consigned to MCS for 4-5 times what they sell for on Clink, HA, eBay or anywhere else.

I assure you that isn't me. But on the other hand, why is that even an issue???

If I see a seller that has a certain book out there listed sky high, I WATCH IT and pray that someone buys it because I like to see my books mature.

I see this new MCS business practice as a chastising for all their consigners. especially ones that have tons of books there.

[Wally's Comics]

20 minutes ago, shadroch said:

Donut would have flipped that FF in a week, reinvested it and flipped those books in a week, turning your $3,000 book into $25,000 along the way. Is sitting on a book for a year in order to squeeze out another couple hundred dollars worth it?

There is a difference, the time it takes to do that.

Everybody has a process. Mine is based on percentages.

Sellers should LOVE my practices. WHY? Because I have set fire to so many books getting GPA highs because it SOLD at those prices.

The two up top were part of that as well as dozens of others before Moon Knight was super hot I took a WWBN 32 and listed it for about double guide the CGC 9.0 flipped and it's gone gangbusters ever since.

I'll never apologize for how i run my show, because unlike the hoarding jerks with TP and Hand Sanitizer that place these items out there for sky high - bottom line PEOPLE DO NOT NEED COMICS!

[Number 6]

33 minutes ago, Wally's Comics said:

I assure you that isn't me. But on the other hand, why is that even an issue???

If I see a seller that has a certain book out there listed sky high, I WATCH IT and pray that someone buys it because I like to see my books mature.

I see this new MCS business practice as a chastising for all their consigners. especially ones that have tons of books there.

Well, it’s an issue because some of us would actually like to, you know, BUY a book ever once and awhile but also have enough sense to not pay a stupid amount of money for a book just because we want it. 
 

And MCS is in the business of selling comics, not being a rent-free museum. 
 

I’m all for a seller being able to price a book as he sees fit. And I understand pricing a book aggressively. But there’s pricing a book aggressively and then there’s point where it becomes abundantly clear the seller has no intention of selling. 
 

I’m sorry that this development adversely affects you personally , but some of use can see this addresses a clear need. 

Edited June 5, 2020 by Number 6

[shadroch]

4 minutes ago, Wally's Comics said:

There is a difference, the time it takes to do that.

Everybody has a process. Mine is based on percentages.

Sellers should LOVE my practices. WHY? Because I have set fire to so many books getting GPA highs because it SOLD at those prices.

The two up top were part of that as well as dozens of others before Moon Knight was super hot I took a WWBN 32 and listed it for about double guide the CGC 9.0 flipped and it's gone gangbusters ever since.

I'll never apologize for how i run my show, because unlike the hoarding jerks with TP and Hand Sanitizer that place these items out there for sky high - bottom line PEOPLE DO NOT NEED COMICS!

I'm not being critical. Your bat, your balls, your rules. There are many ways to run a business. If you are making money and having fun, then it's working for you.

 

[shadroch]

22 minutes ago, Wally's Comics said:

I assure you that isn't me. But on the other hand, why is that even an issue???

If I see a seller that has a certain book out there listed sky high, I WATCH IT and pray that someone buys it because I like to see my books mature.

I see this new MCS business practice as a chastising for all their consigners. especially ones that have tons of books there.

I'm trying to understand your thinking, but can't.  If MCS started having different terms for different consigners, I think that would be a disaster for everyone.

 

Much has changed since they started taking consignments. Remember when their cut was zero?  It was great, but unsustainable.They have reinvented themselves, going from a multi-storefront operation with a mixed reputation to a well run internet model. Models need to be tweaked as circumstances and the market changes.

[bb8]

3 minutes ago, shadroch said:

I'm trying to understand your thinking, but can't.  If MCS started having different terms for different consigners, I think that would be a disaster for everyone.

 

Much has changed since they started taking consignments. Remember when their cut was zero?  It was great, but unsustainable.They have reinvented themselves, going from a multi-storefront operation with a mixed reputation to a well run internet model. Models need to be tweaked as circumstances and the market changes.

It wouldn't necessarily have to be different standards for different consignors though. They could do something like eBay does where you obtain status as a '3-star' seller or somesuchlike thing with spelled-out bench marks that you have to hit to be exempt from storage fees. Doesn't really affect me because I'm no well-endowed meat-swinger on their site, I'm small potatoes, but it could be done.