Chris and Walt explore some of the pitfalls of comic book collecting.
Please let us know what you thought of the show.
We’d love to hear some of the mistakes you’ve made that you can pass along to the new collectors to help their learning curve.
Collecting Pitfalls
Since Scott closed the comments on Trailer Trash, I didn’t get a chance to weigh in on the discussion, so I am commandeering a spot here to say that I look forward to Scott’s newspaper reprint reviews.
I don’t have to bookmark a bunch of urls and have thoroughly enjoyed the contributions about these great volumes showcased by Scott. Please continue, Scott, I am a fan of the reprint volumes reviews and will miss them, if you stop putting them here, regardless of the website they’re on.
Otherwise, I may have to subscribe to your site and leave CBD forever.
Dang. I wish I listened to this before I spent the day searching for a Nightwing #81, driving around all over Toronto! That was so homo-erotic of me.
Hey Walt, here’s something ponder about. I’m not a sports card guy, but my friend says that the market is crashing big time! For example, not one… but two gem mint Jordan rookies fetched a top price of $738,000 back in Jan, which had guys like Gary Vee claiming that it will hit $1M by end of year. But recently, the latest eBay… I believe it was an auction, ended at $180,100. That a $557,900 chop form recent highs!!
I can attest to this. Back in Feb, I had the opportunity to buy a Jordan Rookie, Beckett 8 for $20k CAD. But knowing nothing about cards, I ignored the offer. And if you scan eBay right now for the same Jordan rookie 8… they start $8.5k US or best offer… about half the ask from back in Feb, adjusted for the exchange. Yes, I dodged a bullet whew
My buddy and I both think it’s because the US has opened back up. Buyer’s aren’t stuck at home browsing their hobbies. However, a 4th wave will mean another lock down next winter… so, he see’s current prices as being an opportunity and is loading up, buying left and right.
From what I can tell, the CGC comic market remains strong… fuelled by TV shows. But, if graded sports cards can crash 50% or more… can, will, could… should slabbed comics follow? It’s a scary though… but I have to assume if you can afford to spend $738k on a sports card… these buyers can also absorb the massive $557k loss.
In any case… let’s keep a close on the next few auctions.
You know… if Scott was a “real” editor… he’d add some editing features so I can correct my typos, add emojis or highlight some text. Ribbing isn’t just finger food… it’s also a show of brotherly love of course. Here’s the tweet:
https://twitter.com/darrenrovell/status/1405003215633104899
Great show guys!
I’ll add a couple mistakes:
Sticking with books that don’t give you joy, those guys still buying ASM every month through thick and thin, yeah, that’ll suck the joy right out of the hobby
Our community’s obsession with 1st appearances, oh lord, there’s so much more: artists, writers, story arcs, beautiful & significant character development – by focusing just on the first time they hit the page we do ourselves a disservice.
Testing. Testing. One. Two. Three. Just checking to see if Scott has cut me off for coming to Walt’s defense on that other post. By the way, the quote was, word for word, from Charlie Kim, after I had praised another writer’s post. I made a formal written complaint to Scott (the then editor-in -chief) since I thought it was less than clean and civil and the gentleman never got back to me, so I just assumed anything goes when it comes to “belligerent.”
Now…anybody want to talk comics?!
Spider, you are so right about sticking with books that don’t give you joy and the biggest culprit is Spidey. I knew a couple of guys that just couldn’t stop even though they hated the writer, hated the art style etc. And the 1st appearance obsession is fed by the returns which feeds the loop.
Charlie, are you saying a 9.8 Hulk 181 will not get to $100K?
Klaus! I won’t let you leave! I’ll have such riveting content that you’ll have to stay. Scott is always trying to push me to do better because he knows I can.
Thanks Mel, now lets talk comics! You see Ivan’s new post that just went up? Some great Canadian Golden Age going up on auction this weekend.
https://www.comicbookdaily.com/collecting-community/whites-tsunami-weca-splashes/first-annual-canadian-comics-auction-on-i-c-e/
If a GSX#1, 9.8 is a $70k book… I’d say that an equivalent Hulk #181 is already a $100k book by scale. Bob storm seems to agree:
https://www.highgradecomics.com/book-details/?id=160429
The question remains… what the heck is happening to the sports card market… and is it contaigous?
There are some wonderful books in that auction Walt, and I understand a few of them are thanks to you with an eye to helping out with funding for the Ruby Jubilee projects Unfortunately I won’t be able to bid on any of them due to the financial constraints of having a wife with Alzheimer’s. I guess I’ll just have to be happy with the selection I already have.
Sorry for the kerfuffle on that other post, but I do get a bit tired of some of the less than flattering comments about the work you and Chris do with Comic Culture. Call it in any time you want my friend!
cheers, mel
I think you might be right on the 181 Charlie, too bad one wasn’t up on this HA auction.
Cheer those books on for us Mel, some of the proceeds are going to a great cause!
Well… as for the pitfalls… in 50 years of comic collecting I have definitely been guilty of falling in all of them! Hopefully I am wiser now!
It’s tough being an Asian homo-erotic buddhist. You always get the brush off.
Oh, give it a rest!
Mel, you crack me up… I never knew you were so funny. You’re the “cow bell” among the status quo. I love comments like I like my food… spicy! Keep it up my friend, and may Buddha bless you ^_^
Yeah, hilarious…and belligerent too. Let’s not forget belligerent.
Thank you for the kind words, Klaus. You can catch all my newspaper strip reviews at https://ebabble.net usually weekly. Sign up for the newsletter at the bottom of any page.
Thanks, Scott, will do.
Just to follow up…
On June 17, a GSX#1, CGC 9.8, OW/W (1972481001) sold for $72k (premium included) on Heritage. I believe this is a new high in terms of payout. 4 days later…
On June 21, a GSX#1, CGC 9.8, OW/W (1305611006) sold for $42k on ComicLink. That’s a 40% chop!
https://www.comiclink.com/auctions/item.asp?back=%2FAUCTIONS%2FSEARCH%2EASP%3FFocusedOnly%3D1%26where%3Dauctions%26title%3Dgiant%2Bsize%2Bx%252Dmen%26ItemType%3DCB%23Item%5F1490264&id=1490264&itemType=0
None of this means anything necessarily since no real conclusions can be drawn from a couple sales. But know that sellers always like to reference the highest sale as if that’s the norm, and perhaps it eventually will be, but that isn’t the case today. A difference of $30k may not mean much to those who can afford these kinds of books but that’s a lot of cheddar to most folks. Also, as the economy opens back up, were in a transitional phase and it’s difficult to how the markets are going to react in the short term. Both the stock market and crypto have been extremely volatile this year, with guys like Michael Burry citing that we’re in an “everything bubble”, which contradicts Cathie Woods view that money is rotating back to growth, while others have noted that Wall Street is back playing with derivatives again, ala 2008! Whatever your belief, volatility also means opportunity and as long as you’re not leveraged to the hilt, you should be able to ride any rough waters.