The Official November Heritage Auction Thread 2 2

[Rick2you2]

11 minutes ago, malvin said:

But I'm not facebook or Visa.  We are just talking about people buying comic art, not companies buying other companies.

Malvin

Malvin, there is nothing wrong buying art you love, or buying a lot of it, or paying above market for it. The issue with those companies is that there is presumably some evidence they were bought to limit competition. That lets them rig prices. Now, there is obviously an evidence question: how do you prove intent. But that doesn’t go to the legal theories behind the issue. When a shill bids, he doesn’t really want the piece, he is just driving up the price. Same can be said for chandelier bidding, unless the terms of the auction permit it (some do). Or a new term I just learned: laddering. Those are unfair market place practices because they manipulate bidders’ expectations—an open market in which price is a function of demand. Furthermore, they can be illegal (sometimes civilly, sometimes criminally, or both). 

I don’t know what else I can say, except I think this is getting blown way out of proportion.

[drdroom]

4 hours ago, glendgold said:

The new description has...a lot of passive voice.

I feel a worse person could make a joke here about a train wreck, but luckily I'm not like that.

 

 

I imagine they didn't want to tread on my intellectual property rights by using a phrase like "amateur restoration."

 

[cstojano]

I was wrong, 1 million reserve on the Frazetta Creepy cover.

[batman_fan]

12 hours ago, cstojano said:

I was wrong, 1 million reserve on the Frazetta Creepy cover.

That is quite a bit IMHO.  I would have thought much lower on the reserve.  Anyone know what the bid was up to before they revealed the reserve?

[cstojano]

2 hours ago, batman_fan said:

That is quite a bit IMHO.  I would have thought much lower on the reserve.  Anyone know what the bid was up to before they revealed the reserve?

It was bid up to 100k before the reserve kicked in. 

Edited November 14, 2020 by cstojano

[batman_fan]

28 minutes ago, cstojano said:

I was bid up to 100k before the reserve kicked in. 

Thanks !  Do you think $1 million is on the high side?  I would have guessed $500k maybe $750k tops.

[grapeape]

25 minutes ago, batman_fan said:

Thanks !  Do you think $1 million is on the high side?  I would have guessed $500k maybe $750k tops.

It feels like there is an attempt to set the floor on these types of pieces at $1M.

As much as I love Frazetta that’s a lot of moolah from the cooler.

My guess is that the reserve prices almost all of us here out of the running? Even if you have the money it’s a lot of eggs to place in one collecting basket.

 

[cstojano]

53 minutes ago, batman_fan said:

Thanks !  Do you think $1 million is on the high side?  I would have guessed $500k maybe $750k tops.

Well I was the guy who thought the reserve would be 250k and not met, so clearly I am on the low end. Most who replied thought it would go much higher. 

[Rick2you2]

57 minutes ago, grapeape said:

It feels like there is an attempt to set the floor on these types of pieces at $1M.

As much as I love Frazetta that’s a lot of moolah from the cooler.

My guess is that the reserve prices almost all of us here out of the running? Even if you have the money it’s a lot of eggs to place in one collecting basket.

 

I would not be surprised if it now sells for over $1,000,000. Whether the “buyer” is real, or just a creating a market floor at that price is now the real question.

[grapeape]

4 hours ago, Rick2you2 said:

I would not be surprised if it now sells for over $1,000,000. Whether the “buyer” is real, or just a creating a market floor at that price is now the real question.

Yeah, you know if a painting like this came up twenty years ago for $50,000 I still would’ve struggled to pull the trigger. Once you have to commit these type of funds you become super picky. 
 

Unless this is a piece a person with means has always desired, or it’s an experiment to find a price, I’m going to bet against a million dollar sale.

I do like it a lot. Hell it’s a Frazetta. Let’s see what happens.

 

[Mephisto]

On 11/10/2020 at 7:13 PM, Rick2you2 said:

Four Bar exams, actually (a misspent youth). 

Evidence of intent is often circumstantial. A repeat pattern of bidding at auction until a price goes above some amount, if combined with a bidder’s holdings in which advertised prices are at least that amount, is legally relevant to show intent to rig the market. As to the ivory tower, anti-competitive legal actions are some of the most ivory tower cases out there— and, they don’t always win, either. 

To put it simply, a seller, in my view, has no right to control a market (outside of intellectual property cases, like patent law). The theory of the marketplace, supply and demand, is undercut when one person controls it.

Rookie! My cousin Vinny took the bar six times!

[tth2]

10 hours ago, batman_fan said:

11 hours ago, cstojano said:

I was bid up to 100k before the reserve kicked in. 

Thanks !  Do you think $1 million is on the high side?  I would have guessed $500k maybe $750k tops.

In my opinion it's not one of his $1m+ pieces. 

Having said that, you just never know whether there's a deal already in place that guarantees the reserve will be met.  

[tth2]

Although not in the November auction, I thought it was worth mentioning the Game of Thrones preliminary concept paintings that just sold in Heritage's Entertainment Memorabilia auction.

Some strong prices, headlined by the White Walker painting at $27,500 and the Dragons painting at $16,250.   

[grapeape]

25 minutes ago, tth2 said:

Although not in the November auction, I thought it was worth mentioning the Game of Thrones preliminary concept paintings that just sold in Heritage's Entertainment Memorabilia auction.

Some strong prices, headlined by the White Walker painting at $27,500 and the Dragons painting at $16,250.   

GOT those two images would draw the dollars. 🐉 and White Walker. Thanks for bringing this up. 

[Bronty]

On 11/13/2020 at 11:02 PM, cstojano said:

I was wrong, 1 million reserve on the Frazetta Creepy cover.

Yikes.   Boy the reserves on these frazettas are just sky high.   

[Bronty]

9 hours ago, grapeape said:

GOT those two images would draw the dollars. 🐉 and White Walker. Thanks for bringing this up. 

Yes, thx.   I was wondering how they did.   I thought the dragon piece might do better.   Seems like a strong price for the walker piece.

[batman_fan]

3 hours ago, Bronty said:

Yes, thx.   I was wondering how they did.   I thought the dragon piece might do better.   Seems like a strong price for the walker piece.

I just saw the reserve on the FF 55 panel page   $144k with the juice.  Way higher than I would imagine.  I thought maybe in the $70k range.

[grapeape]

36 minutes ago, batman_fan said:

I just saw the reserve on the FF 55 panel page   $144k with the juice.  Way higher than I would imagine.  I thought maybe in the $70k range.

It’s a page that would do really well auction style with competitive bidding but the reserve smells like fear. I believe this reserve may infect potential buyers with that fear or doubt. Feel free somebody to prove me wrong.

Classic Kirby page from a classic issue. 

[Carlo M]

47 minutes ago, batman_fan said:

I just saw the reserve on the FF 55 panel page   $144k with the juice.  Way higher than I would imagine.  I thought maybe in the $70k range.

I doubt it will get there, at least considering the precedents from the Doom / Surfer storyline of a couple of years back

[batman_fan]

The three pieces of artwork I am watching are still pretty low but given past auctions for similar material, Usually a pop right before online bidding closes and then the real price during live bidding.  I plan to clear out my calendar for the day of the auction so I can keep a close eye on the bidding.