Oh! We have a price bump!
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29 posts in this topic

I thought that the Pennyworth Batman #227 sale was outrageous. $31,000 for a graded 9.8. Turns out that it was the beginning of people with too much money paying too much money for comic books. Which is still ongoing. When that happened Metropolis - who also had a copy of a 9.8 graded Batman #227 that they were asking $9,000 for with a sitting bit of just over $7,000 suddenly nudged their ask price to $30,000. Overnight.

I see now they nudged it again to $35,000. What are they basing the price bump on? All the wild sales of Batman #227 in graded 9.8 that are going on? Yeah yeah I know it's a nice book and not many on the census but there's really no justification to ask that for that book. Unless of course they are fishing for the rube.
 

bat1.18740.jpg

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6 minutes ago, Randall Ries said:


I see now they nudged it again to $35,000. What are they basing the price bump on? All the wild sales of Batman #227 in graded 9.8 that are going on? Yeah yeah I know it's a nice book and not many on the census but there's really no justification to ask that for that book. Unless of course they are fishing for the rube.
 

 

Yes, that is exactly what they are basing it on.  It's perfectly rational for a seller to raise prices based on what buyers are willing to pay.  These are comic books, not medicine, so I can't see anyone reasonably complaining that sellers are price gouging.  What seller on these boards would sell a book for 20 grand less than what they could get on the market?  If there are any, I'm happy to buy.

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9 hours ago, OuterboroGuy said:

Yes, that is exactly what they are basing it on.  It's perfectly rational for a seller to raise prices based on what buyers are willing to pay.  These are comic books, not medicine, so I can't see anyone reasonably complaining that sellers are price gouging.  What seller on these boards would sell a book for 20 grand less than what they could get on the market?  If there are any, I'm happy to buy.

I get it. I am thinking the Pennyworth sale was lightning in a bottle. If/when the current outlandish money being paid for comic books trend stops, this price will no longer be. This book sat there for a long time with an ask price of $9k. Went to $30k. Now at $35k. I don't see any sales data to justify the $5k bump.

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Metropolis probably figures all eyes are on them after their record breaking Action 1 sale. Pennyworth Schmennyworth... We’re Metropolis!

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39 minutes ago, Randall Ries said:

I get it. I am thinking the Pennyworth sale was lightning in a bottle. If/when the current outlandish money being paid for comic books trend stops, this price will no longer be. This book sat there for a long time with an ask price of $9k. Went to $30k. Now at $35k. I don't see any sales data to justify the $5k bump.

The "sales data to justify the $5k bump" is that the last one sold for $30k. Why would they list their copy at an equal or lesser price? In the current market, everything is UP UP UP. Until that changes, the assumption is that every book is going to keep selling for more than it did previously. $5 seems like a fairly modest bump on a $30k price. Do I personally think it's silly? Yes, yes of course. But that's the market right now. Someone will eventually get stuck holding the hot potato, but until that day comes, the prices will keep going up incrementally. 

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I am doing it know with a hulk 181.  I listed for 8k just to find out in 2 weeks I was the cheapest with my grade so I bumped the price up to keep up with others on ebay.  Not desperate for the cash so I can sit on it. 

Edited by god503
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40 minutes ago, vheflin said:

you have to pay extra for the crooked QES sticker

Yes. I tend to agree. Although their copy continues to sit.

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3 hours ago, SuperBird said:

They should at least reholder that thing. :)

Agreed. I thought the same. It may be holding back their eventual sale.

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3 hours ago, iggy said:

Metropolis probably figures all eyes are on them after their record breaking Action 1 sale. Pennyworth Schmennyworth... We’re Metropolis!

Metropolis is weird. They have some really reasonably priced books and some that are outlandish. I assume they broker for consignments as well. I wanted something several years ago and they wouldn't accept a reasonable offer on a WAY overpriced book. "Is this a consignment book?" "Yes", they replied. Movin' on! Thanks anyway!

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4 minutes ago, mattn792 said:

Agreed, if for no other reason than to get that hideous Quietly Exploiting Suckers sticker off it!

Haha. That'll peel right off. Not by me, but some exploited sucker.

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Posted (edited)
1 hour ago, Terry_JSA said:

I personally don’t see a reason in paying $35,000 for a Batman #227 when you can buy an actual Detective Comics #31 that’s restored for probably the same price or slightly more. 

It's stupid, right? $35k would get me a pretty nice Bat 9 or 11. But I suppose once the bar has been set, it won't come back down. Not for a 9.8 graded copy of Bat 227. There aren't that many of them. I've been waiting for the sudden rush to get raws in personal collections graded in hopes of scoring the golden ticket. When that happens, there will be more on the census and down the prices will go. It's too recent a book to think there aren't a lot of ungraded 9.8's languishing in long boxes.

Edited by Randall Ries
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I always find it remarkable that such a psychological difference exists between an auction ($30k-33k) and a straight listing ($30k-$35k).  In an auction, people bid higher and higher because they know they are in direct competition for it. They've not paying 'too much'.  For a straight listing, though, people worry that they're automatically paying too much:  "If no one else has bought it yet, it must not be a good deal or a fair price."

If I ever sell my keys beyond these boards, it will be at auction FOR SURE and not in a straight listing...it is where psychology works in your favor and where the mad money comes home to roost.

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4 hours ago, Randall Ries said:

It's stupid, right? $35k would get me a pretty nice Bat 9 or 11. But I suppose once the bar has been set, it won't come back down. Not for a 9.8 graded copy of Bat 227. There aren't that many of them. I've been waiting for the sudden rush to get raws in personal collections graded in hopes of scoring the golden ticket. When that happens, there will be more on the census and down the prices will go. It's too recent a book to think there aren't a lot of ungraded 9.8's languishing in long boxes.

Yeah I think it’s dumb, but at the end of the day people can do whatever they want, it’s their money. I’ve seen high grade copies before it’s not like they’re rare or anything, just a little high in price but they’re out there. I do think it’s a bit crazy that there’s huge price difference between a 9.0 and 9.8 copy.

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