Mark Bagley's Miles Morales Spider-Man Cover Art Sells for $225,000
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128 posts in this topic

It's da plain truth.  Plus I don't see an end in sight... perhaps a plateau some day, but not a popped bubble.

Staying in all the day has brought about a sea change in terms of new / re-enthused collectors in a gazillion different collectibles hobbies.  Holy hell, playing Magic the Gathering Online most nights has brought me to the cusp of acquiring my first MtG OA. Case in point.

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To the Moon !!!! 🚀🚀🚀

I stop

You Stop

We all stop

for GameStop !

fake economy where everybody knows the prices of everything but not the value of anything !!!

Edited by Peter G
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12 minutes ago, delekkerste said:

Mark Bagley's Miles Morales Spider-Man Cover Art Sells for $225,000

A year ago, I would have said this was ludicrous, but, given that currencies are being debased into oblivion worldwide, I'm getting used to seeing more and more absurd prices - across all markets - every day.  At this point, $225K for this cover actually seems...normal to me. :fear: 

Recently, a longtime collector reached out to me and said that the prices I was asking for my art on CAF were ridiculous.  Well, two of the pieces that he cited as being absurd sold soon after and there have been serious inquiries about others.  People have to adapt to the new realities of the market. Gravity simply does not exist in asset markets any more due to years of near-zero interest rates and $120 billion+ of fresh money being printed every month in the U.S. alone (on top of the trillions that have already been printed). Easy money is keeping everything related to markets and the economy going at this point, inflating asset prices everywhere, and giving people both the means and confidence to keep paying more.  

There have been so many stocks, cryptos, collectibles, etc. that have multi-baggered, even 10 or 20-baggered, over the past year...why should we be surprised to see art up 30-100% over a year ago?  Even at that gaudy clip, it's BADLY lagging behind the hotter stocks, cryptos and other collectibles out there.  I doubt ANY art has appreciated more than a small fraction of the hottest sports cards over the past 12 months (your plain Jane 1986 Fleer Michael Jordan PSA 10 is literally up 20x during that time and many hot cards are up 3-5x literally in the past THREE WEEKS) and there's no shortage of financial assets that are up hundreds of percent over the past 12 months.

As bad as OA prices have become, the reality is that, for a decent chunk of the asset owning class, their buying power has actually increased over the past 12 months as their portfolios have soared.  As perverse as that sounds in a pandemic where a good chunk of the population is struggling, it's the truth, and, as such, unless something happens to derail the current dynamics of the market, I think we can expect to see more and more OA sales that would have been deemed insane a year or more ago occur in 2021... :sorry: 

You sound like Krazy Kat 😏

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1 hour ago, delekkerste said:

Mark Bagley's Miles Morales Spider-Man Cover Art Sells for $225,000

A year ago, I would have said this was ludicrous, but, given that currencies are being debased into oblivion worldwide, I'm getting used to seeing more and more absurd prices - across all markets - every day.  At this point, $225K for this cover actually seems...normal to me. :fear: 

Recently, a longtime collector reached out to me and said that the prices I was asking for my art on CAF were ridiculous.  Well, two of the pieces that he cited as being absurd sold soon after and there have been serious inquiries about others.  People have to adapt to the new realities of the market. Gravity simply does not exist in asset markets any more due to years of near-zero interest rates and $120 billion+ of fresh money being printed every month in the U.S. alone (on top of the trillions that have already been printed). Easy money is keeping everything related to markets and the economy going at this point, inflating asset prices everywhere, and giving people both the means and confidence to keep paying more.  

There have been so many stocks, cryptos, collectibles, etc. that have multi-baggered, even 10 or 20-baggered, over the past year...why should we be surprised to see art up 30-100% over a year ago?  Even at that gaudy clip, it's BADLY lagging behind the hotter stocks, cryptos and other collectibles out there.  I doubt ANY art has appreciated more than a small fraction of the hottest sports cards over the past 12 months (your plain Jane 1986 Fleer Michael Jordan PSA 10 is literally up 20x during that time and many hot cards are up 3-5x literally in the past THREE WEEKS) and there's no shortage of financial assets that are up hundreds of percent over the past 12 months.

As bad as OA prices have become, the reality is that, for a decent chunk of the asset owning class, their buying power has actually increased over the past 12 months as their portfolios have soared.  As perverse as that sounds in a pandemic where a good chunk of the population is struggling, it's the truth, and, as such, unless something happens to derail the current dynamics of the market, I think we can expect to see more and more OA sales that would have been deemed insane a year or more ago occur in 2021... :sorry: 

Just. Wow.

Went for triple the amount of the 1st X-23

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1 hour ago, jjonahjameson11 said:

Just. Wow.

Went for triple the amount of the 1st X-23

I think Miles both is and will be a far more significant character going forward.

Also interesting to read that this cover is the only physical art available for the whole issue - including both interiors and the variant cover.

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28 minutes ago, Peter G said:

225k for a cover that imho, as a piece of art is sub-standard but is considered “important” because of the current fashion of diversity. Color me skeptical but I do not think this piece will maintain its value in the long run. 

It's obviously less about the art and more about the significance of the key issue it's from.

Everyone's entitled to their opinions I guess, but in my experience, prices only ever go one way. 

The big question is, what does this mean for the prices of art from key issues of more established characters?

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10 minutes ago, Shin-Kaiser said:

It's obviously less about the art and more about the significance of the key issue it's from.

Everyone's entitled to their opinions I guess, but in my experience, prices only ever go one way. 

The big question is, what does this mean for the prices of art from key issues of more established characters?

History will not be kind to these “investments” 

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1 hour ago, stinkininkin said:

And as a collector who has very little desire to sell any of my collection, I don't get to reap any financial rewards from the new pricing paradigm. I'm essentially locked out going in both directions!

Hey, just be glad you don't have to pay property tax too...oh wait... :( 

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3 minutes ago, stinkininkin said:

I don't think this is just about diversity. I have no affinity for this cover, the artist who drew it or the comic itself (never read it). However, when I saw the film 'Into The SpiderVerse' with Miles Morales, I thought it was an unbelievable breath of fresh air and the best Spiderman I'd experienced in years if not decades. I think he can continue to be an important and iconic character, so the price paid for a first appearance original is not as crazy as you make it out to be IMHO.

I don’t want to make this too complicated but in philosophical terms if “token “ is the image or totem and “text” is the context, well this is all text, and no token. 
 

I just don’t think the future will care about text that much. The token is much more important. 
 

I appreciate that into the Spiderverse was kinda cool. I liked it. Thought it was very well done but it was derivative. 


 

 

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37 minutes ago, Peter G said:

I don’t want to make this too complicated but in philosophical terms if “token “ is the image or totem and “text” is the context, well this is all text, and no token. 
 

I just don’t think the future will care about text that much. The token is much more important. 
 

I appreciate that into the Spiderverse was kinda cool. I liked it. Thought it was very well done but it was derivative. 


 

 

The current market cares substantially more about context right now. I think that trend is going to continue as newer collectors are most likely to come from the comic book market and/or because they're fans of the movies. Comic book collectors care about context above all else. Movie fans will want to contextualize their collectibles in terms of how they relate to the movies. The contextuality of comic collectibles is inseparable from their value since it's ultimately the 60+ years of aggregated lore which gives them meaning.

 

6 minutes ago, AnkurJ said:

I could see this for 400k at auction.

Agreed. I believe this is likely the most important cover of the last 20+ years, and arguably one of the most important covers in comic history. 

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2 minutes ago, Varanis said:

The current market cares substantially more about context right now. I think that trend is going to continue as newer collectors are most likely to come from the comic book market and/or because they're fans of the movies. Comic book collectors care about context above all else. Movie fans will want to contextualize their collectibles in terms of how they relate to the movies. The contextuality of comic collectibles is inseparable from their value since it's ultimately the 60+ years of aggregated lore which gives them meaning.

 

Agreed. I believe this is likely the most important cover of the last 20+ years, and arguably one of the most important covers in comic history. 

One of the most important covers in comic history 😂

The arc of history is much longer than the short blip of your life

 

I met a traveller from an antique land
Who said: "Two vast and trunkless legs of stone
Stand in the desert . . . Near them, on the sand,
Half sunk, a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed:
And on the pedestal these words appear:
'My name is Ozymandias, king of kings:
Look on my works, ye Mighty, and despair!'
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away."

 

 

 

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