My experience with fractional ownership of comics: JIM #83 / $215,000 3 3

[Axelrod]

1 hour ago, valiantman said:

The only CGC 9.4 sale recorded for 2020 was $210,000.  GoCollect may have $140,000, but $210,000 is the most recent recorded price.  As far as the rest of the discussion goes, it's linked in @THE_BEYONDER post above.

Well, I’m certainly prepared to acknowledge that gocollect isn’t the final authority on what something is worth, but I think the underlying point remains.

[valiantman]

4 minutes ago, Axelrod said:

1 hour ago, valiantman said:

The only CGC 9.4 sale recorded for 2020 was $210,000.  GoCollect may have $140,000, but $210,000 is the most recent recorded price.  As far as the rest of the discussion goes, it's linked in @THE_BEYONDER post above.

Well, I’m certainly prepared to acknowledge that gocollect isn’t the final authority on what something is worth, but I think the underlying point remains.

I thought your underlying point was that RallyRd was asking $215,000 for a $140,000 comic.  Conceding that they're asking $215,000 for a $210,000 comic doesn't have as much of your original "oomph" as you are suggesting.

[FormerReader]

12 minutes ago, valiantman said:

I thought your underlying point was that RallyRd was asking $215,000 for a $140,000 comic.  Conceding that they're asking $215,000 for a $210,000 comic doesn't have as much of your original "oomph" as you are suggesting.

[Axelrod]

36 minutes ago, valiantman said:

I thought your underlying point was that RallyRd was asking $215,000 for a $140,000 comic.  Conceding that they're asking $215,000 for a $210,000 comic doesn't have as much of your original "oomph" as you are suggesting.

Well, my point is that it's shady if what they are doing is overselling books by "fractionalizing" the purchase price.  Which seems to be what a lot of that other thread was also discussing them doing?  The amount of the oversell isn't the main thing, though it's certainly less dramatic if it's not $75,000.

I guess it's still a pretty good deal for them even if the market price was spot on, since they aren't really "paying" it, but they still have the book.  

Edited January 9, 2021 by Axelrod

[FoggyNelson]

I would rather own a fraction of a bitcoin than a comic

[Beige]

Who wants to buy in?

 

Anyone?

Anyone?

Oh.

[kav]

I'm selling stock in fractions of @greggy-this is your chance to get in on the ground floor.

Edited January 9, 2021 by kav

[valiantman]

39 minutes ago, Axelrod said:

Well, my point is that it's shady if what they are doing is overselling books by "fractionalizing" the purchase price.  Which seems to be what a lot of that other thread was also discussing them doing?  The amount of the oversell isn't the main thing, though it's certainly less dramatic if it's not $75,000.

I guess it's still a pretty good deal for them even if the market price was spot on, since they aren't really "paying" it, but they still have the book.  

Correct, but if your goal is to see an investment increase so that you can sell it - holding the book in your hands only supplies additional security, not additional value.  It's a risk to trust RallyRd with the security, but if you're willing to take that risk, you get the chance to profit off actual key books instead of only those books you can afford 100%.

I own a thousand slabs and ten thousand raws, so I trust my own security on the vast majority of my collection - but I also know that I own 100% of maybe 3 true Golden/Silver Age key issues in my collection and lots of books at $1,000 or less. 

I would have preferred to put $100 at a time into real key issues but $100 a month for 20 years would only get you to a $24,000 comic, which might have cost $2,400 twenty years earlier.  I'd rather see my $100 put into a $240,000 book of my choice, and I can sell it 10 years later, or 10 days, whatever I want. No shipping charges, minimal trading fees, 24/7 electronic exchange and transfer to bank withdrawal. Etc. 

But that doesn't exist yet.

RallyRd only does part of that... and there are plenty of people who don't even like the whole idea I described, much less a partial version of it on RallyRd.

But, unless there's a better way to invest in $240,000 books without having the whole $240,000, my guess is that something will eventually supply for this need in the market.  Probably not RallyRd in its current form... but something will.

Edited January 9, 2021 by valiantman

[Poka]

hope it works out for OP - I would not be the slightest interested

[Funnybooks]

Hard PASS

[Bird]

so instead of posting your actual experience, you just posted an ad for the site?

[kav]

3 minutes ago, Bird said:

so instead of posting your actual experience, you just posted an ad for the site?

I also was hoping more from the description of 'my experience' than 'I bought some'.

[Buzzetta]

1 hour ago, Axelrod said:

Well, I’m certainly prepared to acknowledge that gocollect isn’t the final authority on what something is worth, but I think the underlying point remains.

I just rolled my eyes at GoCollect... 

Right now if you go on twitch there are two guys pimping books.  "The Collector's Showcase"

So they are holding and showing off 9.0's 9.2's at best and giving 9.8 graded prices.  So for example they said that a copy of Avengers 8 sold for $45,000... Go Collect reports that sale for 2015.  The last GPA sale shows a 9.8 sold in October of 2019 for $16,500. 

They were a little taken aback and said that they were looking at actual sales.  Said, so am I...  Said good night... and moved on.

Why am I bringing this up?  Where exactly is go collect getting its data from?  Because if GoCollect 'sales' are inflated... you all have a big problem on your hands. 

[speedcake]

ok fess up, which one of you is in their chat right now trolling them

[wilbil]

in a previous life, i would have listened to this confession, not given penance, required the act of contrition, and not granted absolution.

this is known as the madoff confessional solution.

that is just me, though. franciscans and xavierians might  handle it differently.

[Buzzetta]

12 minutes ago, speedcake said:

ok fess up, which one of you is in their chat right now trolling them

I was in there as Buzzetta... did some guys go in there?  That's hilarious. 

[Buzzetta]

3 minutes ago, wilbil said:

in a previous life, i would have listened to this confession, not given penance, required the act of contrition, and not granted absolution.

this is known as the madoff confessional solution.

that is just me, though. franciscans and xavierians might  handle it differently.

Why did I think you were a product of the Jesuits? 

[wilbil]

1 minute ago, Buzzetta said:

Why did I think you were a product of the Jesuits? 

 i am. i was. ergo, my post. we didn't do very well in the whole asia thing, either.

[Buzzetta]

1 minute ago, wilbil said:

 i am. i was. ergo, my post. we didn't do very well in the whole asia thing, either.

This would explain the dynamic between you and I.  I think I have mentioned this before, my formative years were primarily influenced by the Marianists...

"Dear boys, this is a Marianist school.  We may be crazier than everyone else but not as crazy the Jesuits.  Put that in your pipe and smoke it ya bad kids."

 

[kav]

1 minute ago, Buzzetta said:

This would explain the dynamic between you and I.  I think I have mentioned this before, my formative years were primarily influenced by the Marianists...

"Dear boys, this is a Marianist school.  We may be crazier than everyone else but not as crazy the Jesuits.  Put that in your pipe and smoke it ya bad kids."

 

settle down.