#5667853 - 05/10/1201:30 AMRe: Heritage Sells Batman #1 9.2 for $850k in private transaction
[Re: Bronty]
lou_finelou_fine
I was posting here when you were in diapers.
Registered: 04/29/03
Posts: 3800
Originally Posted By: Bronty
it doesn't hurt it, but it doesn't help to nearly the same degree it helps hg copies. arguably it doesn't help at all as low and high grade are two separate markets, but personally I don't think that's really true and I expect low grade copies to see a little bit of an increase when big news happens at the top end.... just seems to result in more attention on the book.
Even though the low grade and high grade are two separate markets, I also believe that a rising tide can lift all boats and in this particular case, it definitely has.
With the big dollar sales for both Action #1 and 'Tec #27, there has definiely been a follow through increase on the lower graded copies of these 2 books. So much so that the minimum price to get in on these 2 books are probably now in the $100K range. This was definitely not the case before as $100K used to be able to buy you a half decent copy.
Same thing with other books such as Action #7, Tect #29 or #31, where the minimum buy in price is now well over $10K. So high grade sales definitely do have a corresponding impact on the price of lower grade copies.
#5667855 - 05/10/1201:36 AMRe: Heritage Sells Batman #1 9.2 for $850k in private transaction
[Re: sfcityduck]
lou_finelou_fine
I was posting here when you were in diapers.
Registered: 04/29/03
Posts: 3800
Originally Posted By: sfcityduck
(1) The book used to be graded VF, then 8.5, then 9.0, and only recently was upgraded to 9.2, especially if this information was not disclosed by the seller;
If the buyer is disturbed enough, he might be exploring his options, including undwinding the transaction or pursuing legal remedies, and there may well be some depending on the facts of the transaction.
Who's to say the buyer is unhappy about this transaction?
He'll probably learn from past history and be very happy when he flips the same book next year for $1.25 million dollars when it's sitting there all nice and pretty in a CGC slab with a 9.4 label.
#5668719 - 05/10/1212:36 PMRe: Heritage Sells Batman #1 9.2 for $850k in private transaction
[Re: markseifert]
sfcityducksfcityduck
Bid more or post more... tough one...
Registered: 04/22/08
Posts: 992
Originally Posted By: markseifert
Originally Posted By: rob_react
The more I look at Marvel #1, the more I see Whiz #2.
1) It's interesting to note that the top 4 census copies of Marvel #1 have not been much tested in the million dollar era. Ironic considering what the book's rep was for constantly being available in the few years before that.
Heritage has the Denver Copy (8.5 Blue) listed on a buy it now for $275k with no takers. And isn't it supposedly the third (or fourth) best copy after the Church and the Pay (and perhaps the 8.5 that got a 9.0 on resub)?
Ebay has the Allentown Copy (9.2 SP) listed on a buy it now for $85K with no takers (and supposedly the Allentown was once "traded" for a value of $115K).
Perhaps the lack of "testing" is due to lack of interest.
[quote=markseifert] Perhaps the lack of "testing" is due to lack of interest.
Well, that's a BIN of 1.75x its last sale (without looking it up, I think it is #3 on the census, not counting the Church, obviously).
Someone hitting that would arguably be more noteworthy than someone grabbing the top-census Flash #1 for a similar multiple of its last sale a couple weeks after the first million dollar Action 1 sale.
Or given that everyone knows the Church Marvel 1 is out there, it would perhaps be nearly equivalent of someone buying the #4 (?) census Bat #1 8.5 for $275k, as recently happened.
Good catch that it's sitting there available, however. Someone grabbing it at that price would be pretty noteworthy in the context of recent events. Given all this, the question again becomes: Would a Bat #1 of the same grade and price -- 8.5 with a BIN of $275k -- sit there unpurchased for long?
I am quite sure that the previous grading history of the book was not disclosed to the buyer by Heritage. With the way the CGC game is played, there is certainly no obligation on Heritage's part to disclose anything except for the current grade of the book.
Fwiw, looks like HA told CNN that the seller did in fact buy the book 2 years ago for $315k. Hard to imagine they're going to disclose that to a national news outlet if the history of the book didn't come up in some form during the transaction.
Quote:
The seller reaped a stunning return on investment, after paying $315,000 for the No. 1 issue two years ago, according to the auctioneer.
#5674666 - 05/12/1212:04 AMRe: Heritage Sells Batman #1 9.2 for $850k in private transaction
[Re: Tsimanga]
tth2tth2 "I blame it on the low quality of the newbies that are joining the boards." --And with one swoop tth2 become the community crotchety old man. Damn kids today.
TOTAL NEWBIE
Registered: 12/04/03
Posts: 33305
Loc: Hong Kong
Originally Posted By: Tsimanga
Originally Posted By: Duffman_Comics
Am I alone in being suspicious of record prices being claimed for private sales?
Nope - I've been the buyer on a couple private 5-figure deals with dealers and both times the seller announced a higher sales price.
As the old adage goes, "How can you tell when a dealer`s lying? His lips are moving."
#5674777 - 05/12/1212:56 AMRe: Heritage Sells Batman #1 9.2 for $850k in private transaction
[Re: markseifert]
lou_finelou_fine
I was posting here when you were in diapers.
Registered: 04/29/03
Posts: 3800
Originally Posted By: markseifert
Originally Posted By: lou_fine
I am quite sure that the previous grading history of the book was not disclosed to the buyer by Heritage. With the way the CGC game is played, there is certainly no obligation on Heritage's part to disclose anything except for the current grade of the book.
Fwiw, looks like HA told CNN that the seller did in fact buy the book 2 years ago for $315k. Hard to imagine they're going to disclose that to a national news outlet if the history of the book didn't come up in some form during the transaction.
Quote:
The seller reaped a stunning return on investment, after paying $315,000 for the No. 1 issue two years ago, according to the auctioneer.
The history of the book did indeed come up, but only with respect to the pricing history as you can tell from the story. Dealers will always bring up the pricing history of books as this is a good news story when they zoom up. Definitely helps the dealers as it helps to bring more books to market.
If you'll notice, there was not one word mentioned at all about the grading history of the book. Dealers don't want to talk about this aspect of the book as it brings the entire issue of grading and CGC into question and will more than likely, discourage new people from entering into the market.
