RallyRd - that old idea about partial ownership of comics is a reality (updated July 21, 2021) 6 6

[Hamlet]

On 8/3/2020 at 6:28 AM, Gatsby77 said:

Believe it or not, a single "Fair Market Value" for this book exists, because we have the transaction volume to determine an accurate value.

It's $2,300 - the pure average of the last 17 sales you list.

That's what the book is "worth." -- yes -- the $1,246 sale was an outlier to the downside (a great pick-up!) but it doesn't suddenly make the book worth that much, any more than the $2,850 sale makes the book worth that much.

GPA variance is natural also because of venue arbitrage. An eBay sale might be 10-15% different from one at Heritage due to postage differences or bidding variance due to the differing house takes.

But the value of this book is $2,300 -- not "$1,800 - $2,800."

This has been standard since the beginning of the hobby -- the difference is GPA (with all of its flaws and susceptibility to manipulation) has enabled us to get more accurate vs. the single value determined by Overstreet's based on dealer's reports alone.

 

But back to the point, depending on "investors" to consistently overpay by 20-40% (as shown by Rally Road's sales prices vs. trailing average FMVs -- isn't a sustainable business model).

The problem with this is that you are assuming that all 9.8 ASM 300s are functionally identical.  They aren't.  This is ignoring pretty substantial variations in value due to page quality, centering, and eye appeal.  

If I was in the market for this book, there are books I would pay more than $2300 for and books that I would pay substantially less for.  You are going to get less money for a 9.8 with a fugly misrap most of the time.  That is a large part of why the price people are willing to pay for a particular book varies so widely.

These aren't commodities.  Each comic book has unique characteristics that make it more or less appealing than the next book, even ones that are graded identically.

 

[World Devourer]

Interesting idea. That said, if I really wanted an item with potential resale value at some point I'd take out a loan. I'd rather own it outright eventually.

[Randall Dowling]

I'm impressed with how hard this scam is getting pushed on the boards.  I don't know why people assume the board members are all rubes when we know more about graded assets than most.  

It's starting to feel like an Amway pitch...

[jaybuck43]

2 hours ago, Randall Dowling said:

I'm impressed with how hard this scam is getting pushed on the boards.  I don't know why people assume the board members are all rubes when we know more about graded assets than most.  

It's starting to feel like an Amway pitch...

At least Amway doesn’t put the following in their declaration of risk:

There is substantial doubt about our ability to continue as a going concern.

[Sweet Lou 14]

34 minutes ago, jaybuck43 said:

At least Amway doesn’t put the following in their declaration of risk:

There is substantial doubt about our ability to continue as a going concern.

I wasn't sure where you'd found this, so I went searching on the RallyRd site.  You have to dig a bit to find their disclaimers page.  Wow, you were barely scratching the surface.

https://rallyrd.com/disclaimer/

Risks relating to the structure, operation and performance of the Company

• An investment in an Offering constitutes only an investment in that Series and not in the Company or directly in any Underlying Asset.
• There is currently no trading market for our securities. An active market in which investors can resell their Interests may not develop.
• There may be state law restrictions on an Investor’s ability to sell their Interests.
• The Company does not have a significant operating history and, as a result, there is a limited amount of information about us on which to base an investment decision.
• There can be no guarantee that the Company will reach its funding target from potential investors with respect to any Series or future proposed Series of Interests.
• There is substantial doubt about our ability to continue as a going concern.
• There are few businesses that have pursued a strategy or investment objective similar to the Company’s.
• The amount raised at each Offering may exceed the value of the Underlying Asset acquired in connection with such Offering.
• The operating expenses related to a Series of the company may exceed the revenues generated by such Series and excess operating expenses could then materially and adversely affect the value of Interests and result in dilution to Investors.
• The success of the Company is dependent on the Manager and its team to source, acquire and manage Underlying Assets.
• The Company is reliant on the Manager and Asset Manager and their respective personnel. Our business and operations could be adversely affected if the Manager or Asset Manager lose key personnel.
• If the Company’s series limited liability company structure is not respected, then Investors may have to share any liabilities of the Company with all Investors and not just those who hold the same Series of Interests as them.
• The Company is currently expanding and improving our information technology systems and use security measures designed to protect our systems against breaches and cyber-attacks. If these efforts are not successful, our business and operations could be disrupted, our operating results and reputation could be harmed, and the value of the Interests could be materially and adversely affected.
• System limitations or failures could harm our business and may cause the Asset Manager or Manager to intervene into activity on the Rally™ Platform.
• The Rally™ Platform is highly technical and may be at a risk to malfunction.
• There can be no guarantee that any liquidity mechanism for secondary sales of Interests will develop on the Rally™ Platform in the manner described, that registered broker-dealers will desire to facilitate liquidity in the Interests for a level of fees that would be acceptable to Investors or at all, that such Trading Windows will occur with high frequency if at all, that a market-clearing price (e.g., a price at which there is overlap between bid and ask prices) will be established during any Trading Window or that any buy or sell orders will be filled.
• The Company does not anticipate the use of Manager-owned Interests for liquidity or to facilitate the resale of Interests held by Investors.
• Abuse of our advertising or social platforms may harm our reputation or user engagement.
• If the Company is unable to protect our intellectual property rights, our competitive position could be harmed, or we could be required to incur significant expenses to enforce our rights.
• The Company’s results of operations may be negatively impacted by the coronavirus outbreak.
• Actual or threatened epidemics, pandemics, outbreaks, or other public health crises may adversely affect the Company’s business.

Risks related to an Offering

• The Company is offering our Interests pursuant to Tier 2 of Regulation A and we cannot be certain if the reduced disclosure requirements applicable to Tier 2 issuers will make our Interests less attractive to Investors as compared to a traditional initial public offering.
• The Company is required to periodically assess our internal control over financial reporting and our management has identified a material weakness. If our remediation of such material weakness is not effective, or we identify additional material weaknesses or other adverse findings in the future, we may not be able to report our financial condition or results of operations accurately or timely, which may result in a loss of investor confidence in our financial reports, significant expenses to remediate any internal control deficiencies, and ultimately have an adverse effect on our business or financial condition.
• If a regulator determines that the activities of either the Manager or Asset Manager require its registration as a broker-dealer, the Asset Manager or Manager may be required to cease operations and any Series of Interests offered and sold without such proper registration may be subject to a right of rescission.
• If at any time regulators deem the liquidity platform a securities exchange or alternative trading system this may require us to cease operating the platform and will materially and adversely affect your ability to transfer your Interests.
• If we are required to register under the Exchange Act, it would result in significant expense and reporting requirements that would place a burden on the Manager and Asset Manager and may divert attention from management of the Underlying Assets by the Manager and Asset Manager or could cause Asset Manager to no longer be able to afford to run our business.
• If the Company were to be required to register under the Investment Company Act or the Manager or the Asset Manager were to be required to register under the Investment Advisers Act, it could have a material and adverse impact on the results of operations and expenses of each Series and the Manager and the Asset Manager may be forced to liquidate and wind up each Series of Interests or rescind the Offerings for any of the Series or the offering for any other Series of Interests.
• Changes in Federal Tax Laws may adversely affect securities issued by the Company.

Risks Specific to the Industry and the Asset Class

• There may be potential negative changes within the asset class.
• Investment in a limited number of investment opportunities on the Rally™ Platform may result in a lack of diversification for an investor.
• There could be a general downtown in the industry which would likely impact the value of the Underlying Assets given the concentrated nature of the industry.
• There may be a volatile demand for the assets in the asset class.
• There is Federal and State specific regulation to alcohol related Underlying Assets.
• The complicated and overlapping systems of regulating alcohol in the United States may adversely impact the Company’s ability to either acquire or dispose of an alcohol-related Underlying Asset on a favorable basis.
• The company will rely on data from past auction sales and insurance data, among other sources, in determining the value of the Underlying Assets, and have not independently verified the accuracy or completeness of this information. As such, valuations of the Underlying Assets may be subject to a high degree of uncertainty and risk.

Risks relating to the Underlying Assets

• The value of the Underlying Assets and, consequently, the value of an Investor’s Interests can go down as well as up.
• The company may have to compete with other business models in the asset class.
• The value of the Underlying Asset is likely to be connected to its association with a certain person, group, producer, manufacturer or in connection with certain events. In the Event that such person, group, producer, manufacturer or event loses public affection, then this may adversely impact the value of the Underlying Asset.
• There may be title, authenticity or infringement claims on an Underlying Asset.
• There are risks associated with reliance on third party authenticators.
• Each Series will assume all of the ownership risks attached to its Underlying Asset, including third party liability risks.
• An Underlying Asset may be lost or damaged by causes beyond the Company’s control while being transported or when in storage or on display. There can be no guarantee that insurance proceeds will be sufficient to pay the full market value of an Underlying Asset which has been damaged or lost which will result in a material and adverse effect in the value of the related Interests.
• Insurance of Underlying Assets may not cover all losses which will result in a material and adverse effect in the valuation of the Series related to such damaged Underlying Assets.
• The Company may be forced to cause its various Series to sell one or more of the Underlying Assets at an inopportune time.
• There can be no guarantee of distributions or return of capital being made by a Series of the Company to its investors.
• Market manipulation or overproduction may be a risk with the asset class.
• There are instances of forgeries and fraudulent Assets within the Asset Class.
• Environmental damage could impact the value of an Underlying Asset which will result in a material and adverse effect in the value of the related Interests.
• There may be potentially high storage, maintenance and insurance costs for the Underlying Assets.
• Some alcohol related Underlying Assets, such as bottles of wine or whiskey, value is based on the drinking window attributed upon its release to the market.
• Exposure to Coravin methods could diminish the value of alcohol related Underlying Assets.
• Refurbishment of Underlying Assets is dependent on third parties and ability to source original parts.
• Underlying Assets may not be held long term.
• General sentiment of underlying fan base may be a risk with the asset class as Underlying Assets go in and out of favor with collectors.

Risks Related to Ownership of our Interests

• Members of a Series in the Company have very limited voting rights.
• The offering price for the Interests determined by us may not necessarily bear any relationship to established valuation criteria such as earnings, book value or assets that may be agreed to between purchasers and sellers in private transactions or that may prevail in the market if and when our Interests can be traded publicly.
• If a market ever develops for the Interests, the market price and trading volume of our Interests may be volatile.
• Funds from purchasers accompanying subscriptions for the Interests will not accrue interest while in escrow.
• Any dispute in relation to the Operating Agreement is subject to the exclusive jurisdiction of the Court of Chancery of the State of Delaware, except where Federal law requires that certain claims be brought in Federal courts. Our Operating Agreement, to the fullest extent permitted by applicable law, provides for Investors to waive their right to a jury trial.

Conflicts of Interest

• The Company’s operating agreement contains provisions that reduce or eliminate duties (including fiduciary duties) of the Manager.
• The Company does not have a conflicts of interest policy.
• The Manager may receive in-kind discounts from service providers when engaging on behalf of the Company.
• Members of the expert network and the advisory board of the Manager are often dealers and brokers so may be incentivized to sell the Company their own collectibles at potentially inflated market prices.
• Members of the expert network and the advisory board of the Manager may be investors in the Company and therefore promote their own self-interests when providing advice to the Manager.
• In the event that operating expenses for a series exceed revenues generated by the series, the Manager may choose to cause the series to incur debt rather than look for additional sources of income elsewhere to cover the costs.
• The Manager determines the timing and amount of distributions made to investors from free cash flow generated by a particular series. Since the Manager participates in these distributions in various ways the Manager may choose for a particular series to make frequent distributions rather than keeping cash on the balance sheet for future operating expenses.
• If the Manager becomes a broker, it may be financially incentivized to ensure increased volume of trading and volatility of interests in a series of the Company, rather than focusing its efforts on monetizing or realizing the underlying collectible.
• The Manager or its affiliates will acquire interests in each series and may sell such interests from time to time. The timing of such series may negatively impact the market value of the interests for other investors.
• The use of one service provider for all series of the Company may be economical but the service provider may not necessarily be the most appropriate for each specific underlying collectible.
• Allocation of costs and expenses across series of the Company may be difficult. In such circumstances the Manager may be conflicted from acting in the best interests of the Company as a whole or the individual series.
• The Manager may choose to use higher cash generating underlying collectibles at certain member events. This may result in lower returns for series of the Company which own the other lower cash generating underlying collectibles.
• The Manager is a party to the operating agreement and therefore, may be incentivized to amend it in a way that is more favorable to it rather than the investors.
• The Manager may receive sponsorship from servicing providers to reduce the costs of servicing the collectibles. Should such sponsorship not be obtained, the Manager may decide to perform a lower standard of service on the collectibles.
• The Manager will determine whether or not a particular asset should be liquidated, should a offer for such asset be received. The price achieved in such liquidation may not be in the best interest for all investors in the asset.
• As the Manager will acquire a percentage of each series of the Company, it may be incentivized to attempt to generate more earnings with those underlying collectibles in which it holds a greater stake.
• As part of the remuneration package for advisory board members, they may receive an ownership stake in the Manager. This may incentivize the advisory board members to make decisions in relation to the underlying collectibles that benefit the Manager rather than the Company.
• The same legal counsel represents both the Company and certain related Rally entities.

[Kryptic1]

RallyRd has the Bethlehem copy of ToS 39 listed as coming soon.  It’s a CGC 9.4 and they have the value at $135k.  A non-pedigree 9.4 sold on Heritage last month for $99k.  Good luck with that.

[lou_fine]

1 hour ago, Kryptic1 said:

RallyRd has the Bethlehem copy of ToS 39 listed as coming soon.  It’s a CGC 9.4 and they have the value at $135k.  A non-pedigree 9.4 sold on Heritage last month for $99k.  Good luck with that.

Ummm..................you do realize that you already identified a clear difference between the 2 copies in your post above.  

A Bethlehem pedigree copy of TOS 39 in CGC 9.4 graded condition is not the same as a non-pedigree in CGC 9.4 graded condition.  Then again, I don't know the premium attached to a Bethlehem pedigree book, but if it was say a Church copy or an Allentown copy of a GA book, the premiums (if not multiples) attached to the pedigree copy as opposed to a non-pedigree copy in the same grade would be substantial.    

Edited August 8, 2020 by lou_fine

[Sweet Lou 14]

19 hours ago, lou_fine said:

Ummm..................you do realize that you already identified a clear difference between the 2 copies in your post above.  

A Bethlehem pedigree copy of TOS 39 in CGC 9.4 graded condition is not the same as a non-pedigree in CGC 9.4 graded condition.  Then again, I don't know the premium attached to a Bethlehem pedigree book, but if it was say a Church copy or an Allentown copy of a GA book, the premiums (if not multiples) attached to the pedigree copy as opposed to a non-pedigree copy in the same grade would be substantial.    

FWIW, the exact book in question (Bethlehem copy) sold for under $96,000 in 2017.  I would still call $135K significantly overpriced.  Remember, this is the price they want investors to buy in at -- knowing full well that when the book finally liquidates, an event over which they have no control, RallyRd will then tell them about all the fees involved in the sale and how those have to come off the top.  It's very difficult to see much upside in such an investment.  Hard pass from me.

Edited August 9, 2020 by Sweet Lou 14

[Gatsby77]

1 hour ago, Sweet Lou 14 said:

FWIW, the exact book in question (Bethlehem copy) sold for under $96,000 in 2017.  I would still call $135K significantly overpriced.  Remember, this is the price they want investors to buy in at -- knowing full well that when the book finally liquidates, an event over which they no control, RallyRd will then tell them about all the fees involved in the sale and how those have to come off the top.  It's very difficult to see much upside in such an investment.  Hard pass from me.

This.

Okay - for everyone who argued "there's no single FMV" for a book in a given grade, because FMV can fluctuate +/- 30-40% at any given time, what's the FMV of this exact book?

There are your two primary data points:

CGC 9.4 (Bethlehem copy, off-white): Sold May 2017 for $95,600

(That's this copy here - noting that it used to be a CGC 9.2 so it's already been "potentialized"): https://comics.ha.com/itm/silver-age-1956-1969-/superhero/tales-of-suspense-39-bethlehem-pedigree-marvel-1963-cgc-nm-94-off-white-pages/a/7163-91015.s

Non-pedigree CGC 9.4 (off-white to white - so better page quality), sold July 2020 for $99,000

(That's this copy here: https://comics.ha.com/itm/silver-age-1956-1969-/superhero/tales-of-suspense-39-marvel-1963-cgc-nm-94-off-white-to-white-pages/a/7231-91075.s)

So how much is the Bethlehem copy worth today?

 

Other things to consider.

Prior (non-pedigree) GPA 9.4 sales:

• 2009: $114,900
• 2011: $147,500
• 2013: $83,600
• 2014: $80,500
• 2015: $89,625
• 2020: $99,000

What this tells me is:

1) A 9.4 copy is worth less than today than it was in 2010.

2) Iron Man is arguably a less important character today than he was a year ago, as RDJ's run as the character on film is likely over.

 

Even with that, I'd say the Bethlehem 9.4 may be worth around $110,000 today.

That's:

• 15% more than what it sold for three years ago,
• 11% more than this month's sale of a non-pedigree copy with higher PQ
• ~23% less than what Rally Rd.'s asking "investors" to pay.

Census shows four copies at 9.6 and one 9.8 - so, assuming one was re-graded, let's say three current 9.6s and one 9.8.

In addition, what's the investment rationale that the book might be worth say $150k sometime in the next 3-4 years?

Again - what's the FMV of the 9.4 Bethlehem copy?

[wombat]

13 hours ago, Sweet Lou 14 said:

An investment in an Offering constitutes only an investment in that Series and not in the Company or directly in any Underlying Asset.

For those that think you are buying a share in that book you can only dream about. Keep dreaming. 

[James J Johnson]

On 7/26/2020 at 9:46 AM, shadroch said:

I own shares of Harley.

Which Harley? 

 

 

 

[James J Johnson]

On 7/26/2020 at 11:14 AM, D84 said:

Maybe we can all do this?

I'll start by offering 1,000 shares of my left  for $20.00 each. 🤣🤣🤣

What can your left one do that your right one can't? 

[Beige]

The fact that a couple of people have joined the boards to push their sales pitch speaks volumes.

In what world could an overpriced miniscule share of a book that you have no control over its whereabouts, or time of disposal, or at what price - and could be bankrupted out by its own share owning manager  end in anything but a financial loss for the share buyer, a bit of profit for the manager, and a nice new book for the buyer of the 'bankrupted book company'

It's a blatant ponzi scam.

Anyone who buys in, deserves all that is heading their way.

[lou_fine]

6 hours ago, Sweet Lou 14 said:

FWIW, the exact book in question (Bethlehem copy) sold for under $96,000 in 2017.  I would still call $135K significantly overpriced.

FWIW, that was way back in May of 2017 and this is now August of 2020 and a lot of things could have changed in the interim.  

For example, a share of Apple and Shopify was worth only about $150 USD and $120 CDN respectively back then, as compared to the roughly $450 USD and $1,410 CDN they are supposedly worth nowadays.  Then again, you've got things like GE and Schlumberger which were worth about $30 and $80 per share respectively back then, but now only about $6 and $20 nowadays.  

From a comic book point of view, you've got sure fire winners like AF 15, Hulk 181, TMNT 1, etc. if you are looking back retroactively.  Without this advantage of hindsight though, I would have to say it's actually pretty hard to forecast whether a book will end up being a financial winner for you or not if you have to pay today's seemingly outrageous going rates for some of these books here.  Especially when it comes to some of these Marvel books where you simply have so many copies of floating them around as they seem to show up in virtually every single auction nowadays.  

[lou_fine]

2 hours ago, James J Johnson said:

Which Where's Harley?

 

 

Does anybody here know how Harley is doing in today's Covid-19 environment since his entire business model is really geared towards travel and comic cons and everybody here certainly knows the current status for both of these kinds of activities?  

Certainly hope he's holding up and doing alright for now because he's definitely one of the good guys out there from my own personal point of view.    

[lou_fine]

5 hours ago, Gatsby77 said:

Other things to consider.

Prior (non-pedigree) GPA 9.4 sales:

• 2009: $114,900
• 2011: $147,500
• 2013: $83,600
• 2014: $80,500
• 2015: $89,625
• 2020: $99,000

What this tells me is:

1) A 9.4 copy is worth less than today than it was in 2010.

What this tells me is that you should never ever overpay for a book by chasing after it when it's in speculative overdrive and the current hot flavor of the month. or year.  

Especially when it comes to movie or TV related hyped books which generally has a relatively short shelf life.  Especially in the case of Marvel related titles since they are just so common that they have ample copies to drive irrational exuberance to the max on the ride up the roller coaster, but we all know what tends to happen on the way down.     

[onlyweaknesskryptonite]

 

For some reason I have a Weird Al style song stuck in my head...

 

"Yeah, I'm gonna take my comic to Rally Road

I'm gonna gouge 'till I can't no more.

I'm gonna take my comic to Rally Road.

I'm gonna gouge 'till I can't no more.

I got the comics in the back. 

Percentages attached .                   

Profits in the Black.                             

Cars that's black to match.               

Ridin' on that Spec , ha.                       

You can whip your Porsche .             

I've been in the conventions.             

These prices aren't contentious.         

 

Can't nobody tell me nothin'               

You can't tell me nothin'

Can't nobody tell me nothin'               

You can't tell me nothin'

 

Prices aren't a factor.                         

Inflated like a bladder.                           

Balanced all our books now.               

Check that Jordan Rookie.                   

Life like a movie.                                 

Investors are just boobies.                   

We like them really stupid.                   

Looking for another rube.

 

Can't nobody tell me nothin'               

You can't tell me nothin'

Can't nobody tell me nothin'                 

You can't tell me nothin'

 

Yeah, I'm gonna take my comic to Rally Road.

I'm gonna gouge 'till I can't no more.

I'm gonna take my comic to Rally Road.       

I'm gonna gouge 'till I can't no more. "

But maybe that's just me? 

Edited August 9, 2020 by onlyweaknesskryptonite

[Sweet Lou 14]

11 hours ago, lou_fine said:

FWIW, that was way back in May of 2017 and this is now August of 2020 and a lot of things could have changed in the interim.  

For example, a share of Apple and Shopify was worth only about $150 USD and $120 CDN respectively back then, as compared to the roughly $450 USD and $1,410 CDN they are supposedly worth nowadays.  Then again, you've got things like GE and Schlumberger which were worth about $30 and $80 per share respectively back then, but now only about $6 and $20 nowadays.  

From a comic book point of view, you've got sure fire winners like AF 15, Hulk 181, TMNT 1, etc. if you are looking back retroactively.  Without this advantage of hindsight though, I would have to say it's actually pretty hard to forecast whether a book will end up being a financial winner for you or not if you have to pay today's seemingly outrageous going rates for some of these books here.  Especially when it comes to some of these Marvel books where you simply have so many copies of floating them around as they seem to show up in virtually every single auction nowadays.  

A lot of things "could have changed," but I don't think that book grew in value by over 35% in those three years.  Do you?  Really?  

If you think a TOS #39 is going to grow at the same rate Apple stock has grown (and like you, I'm looking backwards with the benefit of hindsight, as even Apple has no guarantee of future performance), then it sounds like you would be the perfect investor for RallyRd.  Until and unless you put your money where your mouth is and let us all know how many shares of that TOS #39 you're buying, this is all talk for the sake of talk.  

If a dealer invited me to go in on the "ground floor" on an investment -- in other words, if I could buy in at the *exact same cost* that the dealer is buying in at, thereby passively taking full advantage of that dealer's connections and savvy as a buyer -- then I would be willing to listen, especially if the dealer also promised me some reasonable amount of input into what price we will accept from a buyer on the other end.  But a dealer who buys a book for their own (secret?) price and then invites me to buy in at the dealer's *asking* price?  Which is 35% higher than what the same book sold for three years ago and also higher than any reasonable comp?  And who will sell the book for whatever they can get and dictate to me what the proceeds (net of fees) turn out to be?  Again, hard hard pass.

Edited August 9, 2020 by Sweet Lou 14

[Mercury Man]

40 minutes ago, Sweet Lou 14 said:

If you think a TOS #39 is going to grow at the same rate Apple stock has grown (and like you, I'm looking backwards with the benefit of hindsight, as even Apple has no guarantee of future performance), then it sounds like you would be the perfect investor for RallyRd.  Until and unless you put your money where your mouth is and let us all know how many shares of that TOS #39 you're buying, this is all talk for the sake of talk.

I still stand by- this is like comparing Apples (no pun intended) to Oranges.   When you invest in Apple, Google, Pepsi, GE, Harley-Davidson etc., you are investing in a company, that continues to produce goods/ services, employs people, can be watched on the stock exchanged Monday thru Friday, benefit from dividend payments based on how many shares you own, benefit from stock splits, get a prospectus, can buy or sell anytime the Market is open, and can even purchase goods or use the services (to some extent), of the companies you have invested in. 

With Rally Rd., you get none of this.   You get an 'ownership', of 1 singular material item, and are at the mercy of the gatekeepers, with a whole lot of red flag risks, as stated above from @Sweet Lou 14 

Ask yourself this-  Go to bank and try to get a loan.  If they ask you about assets and do you own any stocks, and you tell them      A)  I own 1000 shares of Apple through a Goldman Sachs account  or B) I own 1 share of an Action Comics #1 through Rally Rd., which one do you think the banker will laugh at?    This is nothing like investing in the stock market, and people sound silly trying to make it is as such

Edited August 9, 2020 by Mercury Man

[Kryptic1]

2 hours ago, Sweet Lou 14 said:

If a dealer invited me to go in on the "ground floor" on an investment -- in other words, if I could buy in at the *exact same cost* that the dealer is buying in at, thereby passively taking full advantage of that dealer's connections and savvy as a buyer -- then I would be willing to listen, especially if the dealer also promised me some reasonable amount of input into what price we will accept from a buyer on the other end.  But a dealer who buys a book for their own (secret?) price and then invites me to buy in at the dealer's *asking* price?  Which is 35% higher than what the same book sold for three years ago and also higher than any reasonable comp?  And who will sell the book for whatever they can get and dictate to me what the proceeds (net of fees) turn out to be?  Again, hard hard pass.

Also, I can’t even tell from their website exactly who it is that we’re trusting with complete control over the sale.  Is this a dealer or collector with decades of experience or some dude with a GPA subscription?  All I can find is a vague comment about having “industry experts” on staff.  They currently have listings for exotic cars, watches, purses, sports cards, non-sports cards, sports memorabilia, historical artifacts, video games, books, comics, and wine.  Do they have experts in all of these categories?  Do they understand all market segments within those categories?