What year will silver age comic values revert to in a crash? 2 2

[innocuous]

1 hour ago, Pontoon said:

Obviously, the great intrinsic value that comics possess renders them immune to any sort of crash.

You can trade 'em for gold coins

[Sweet Lou 14]

I have a cousin who collects basketball cards, which started to see major leaps in value many months before the big wave hit comics.  He told me this evening that the value of his PSA 9 Jordan rookie card, which he bought for $10K at a time when that seemed insane, reached a peak of $80K several months ago before losing about half its value to somewhere in the $40K range.  His $10K investment still looks great, but of course he could have sold at a much higher price last year -- and whoever was buying at those prices is really hurting.  (Apparently there was a $750K sale of a PSA 10 and if I understand correctly, that person would be hard pressed to get back 60% of their investment if they tried to sell now.)

Curious if any card collectors can back up the truth of this, and also curious if there's a lesson to be learned here.  If a massive uptick in card values preceded the same in comics, would a correction like this also be a predictor of what might come next for comics?  (Not a doom-and-gloomer, just genuinely interested in understanding whether there's a connection to be drawn.)

[Pantodude]

8 hours ago, Sweet Lou 14 said:

If a massive uptick in card values preceded the same in comics, would a correction like this also be a predictor of what might come next for comics?

I thought I saw a few posts in some threads here from actual card and/or bitcoin folks (but certainly Youtube videos) who emphasized that the appeal of (and reason for entering the comic book hobby) is the relative scarcity, compared to ther collectible categories like cards, of blue chip comic book keys.  Some of them were informed enough to note that vintage comic book keys have appreciated well while avoiding wild swings in valuation over the decades.   The idea was that blue chip comic book keys are and arguably will remain undervalued due to limited supply because card and bitcoin folks are here to stay (again, b/c of the historic price stability and now tremendous upside long-term, but I think comic books are also addictive, so . . . .), with more folks to discover this hobby as time goes on.   Makes cents to me.  I have often remarked that once folks with money dabble in comic books, they will get hooked like the rest of us, not for financial reasons per se, but because comic books are a really fun and cool form of collectible.   So the seemingly recent "discovery" of comic book keys as alternative investments by folks formerly outside this hobby suggests there's no going back.  There will now be more demand for a fixed, low supply (relative to other collectibles, like cards) of comic book keys over the longer term.  That sounds like insurance against a crash.  

I too hope that the formerly atypical comic book buyers participating inthis hobby today (be it card collector or bitcoin player or anything else) chime in and shed light on their perspective, as you invited them to do.  

Edited April 22, 2021 by Pantodude

[KCOComics]

12 hours ago, Sweet Lou 14 said:

I have a cousin who collects basketball cards, which started to see major leaps in value many months before the big wave hit comics.  He told me this evening that the value of his PSA 9 Jordan rookie card, which he bought for $10K at a time when that seemed insane, reached a peak of $80K several months ago before losing about half its value to somewhere in the $40K range.  His $10K investment still looks great, but of course he could have sold at a much higher price last year -- and whoever was buying at those prices is really hurting.  (Apparently there was a $750K sale of a PSA 10 and if I understand correctly, that person would be hard pressed to get back 60% of their investment if they tried to sell now.)

Curious if any card collectors can back up the truth of this, and also curious if there's a lesson to be learned here.  If a massive uptick in card values preceded the same in comics, would a correction like this also be a predictor of what might come next for comics?  (Not a doom-and-gloomer, just genuinely interested in understanding whether there's a connection to be drawn.)

I hadn't heard that sport cards have begun to correct. I wonder if that means comics are next? If that Jordan card is "only" $40k now, are we sure it's at the floor? Could it be $15k in 3 weeks? 

That's something to watch if comics start to see a correction. 

Has X1 lost some heat?  I feel like it may have based strictly on my observations. A nice looking 3.5 has lasted almost 24 hours on the boards without anyone grabbing it. And some recent eBay sales have been steady, but not being sold for multiples of the previous months comps.  

I can say for sure, AF15 is not slowing down! That book is on 🔥

[silverseeker]

2 hours ago, KCOComics said:

Has X1 lost some heat?  I feel like it may have based strictly on my observations. A nice looking 3.5 has lasted almost 24 hours on the boards without anyone grabbing it. And some recent eBay sales have been steady, but not being sold for multiples of the previous months comps.

I checked eBay last night and it appears to be flooded with copies graded 6.0 and lower...wonder how many of them are selling?

[Jaylam]

 

[pins79]

1 hour ago, silverseeker said:

I checked eBay last night and it appears to be flooded with copies graded 6.0 and lower...wonder how many of them are selling?

As prices continue to go up, more X-men 1 owners will be enticed to sell, bringing more supply to the market.  As long as there is enough demand to absorb this new supply, prices should be ok. If not, might start seeing a bit of a correction or basing of price.  Will see what happens.  I welcomed a correction as I’d like to grab a second copy.

[Pantodude]

2 hours ago, silverseeker said:

I checked eBay last night and it appears to be flooded with copies graded 6.0 and lower...wonder how many of them are selling?

Well, there are only 27 XM1s showing now, mostly in the lower grades.  A few of those are auctions, and they suggest XM1 remains hot and will sell at hot prices.   If you look at the lowest grade, 0.5, the auction with 3 days left is already at $3,888, close to the $4K high set last month.  Moving on to the mid-grade 5.0, the auction with 3 days left is already at above $25K, close to the $30K high set just 4 days ago.  

Edited April 22, 2021 by Pantodude

[dikran]

Man these are a lot of words vs the one word answers the OP was looking for

[Dark Knight]

17 hours ago, Sweet Lou 14 said:

I have a cousin who collects basketball cards, which started to see major leaps in value many months before the big wave hit comics.  He told me this evening that the value of his PSA 9 Jordan rookie card, which he bought for $10K at a time when that seemed insane, reached a peak of $80K several months ago before losing about half its value to somewhere in the $40K range.  His $10K investment still looks great, but of course he could have sold at a much higher price last year -- and whoever was buying at those prices is really hurting.  (Apparently there was a $750K sale of a PSA 10 and if I understand correctly, that person would be hard pressed to get back 60% of their investment if they tried to sell now.)

Curious if any card collectors can back up the truth of this, and also curious if there's a lesson to be learned here.  If a massive uptick in card values preceded the same in comics, would a correction like this also be a predictor of what might come next for comics?  (Not a doom-and-gloomer, just genuinely interested in understanding whether there's a connection to be drawn.)

Yup it is true.  A lot of the higher end basketball cards like the 86 Fleer Jordan have lost its value from their highs just a month or so ago.  Goldin Auction was the one that sold the PSA 10 Jordan for a record $750k (I think they even had 2 PSA 10's at that time).  Now it seems like PSA 10's are sinking and may level at around $250k (still a high from last year when they were selling for around $150k).  And it also moved over to lower grades in the 9's, 8's etc selling for less now.  The hype from the Jordan  ESPN "Last Dance" documentary may have played a role in the quick hike-up in price.  And we are not talking just Jordan rookies, but also other higher profile cards like 2003 chrome Lebron base and refractors, 96 kobe chrome, etc.  Simply put, there is a lot of supply for these cards and market cannot sustain those godly sale prices long term.  I have a feeling once the NBA season ends in a few months, the drop will continue...

[alexgross.com]

22 hours ago, KCOComics said:

I hadn't heard that sport cards have begun to correct. I wonder if that means comics are next? If that Jordan card is "only" $40k now, are we sure it's at the floor? Could it be $15k in 3 weeks? 

That's something to watch if comics start to see a correction. 

Has X1 lost some heat?  I feel like it may have based strictly on my observations. A nice looking 3.5 has lasted almost 24 hours on the boards without anyone grabbing it. And some recent eBay sales have been steady, but not being sold for multiples of the previous months comps.  

I can say for sure, AF15 is not slowing down! That book is on 🔥

of course prices have to level off at some point and maybe even decline some. but just because some boardie or feebay sellers list a book like xmen1 for an ambitiously high all-time price, this is not an indicator that a book like x1 is slowing down. this is common on feebay and i see several listed books here too for record prices. real auctions still show x1 to be hot. and other key books too like hulk1, af15, as you noted.