My road to success (Moving Update 2)

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I was going to sit this thread out but I figure I'd chime in because I bought the book from Gabe.

 

Lots of people criticizing why someone would spend $1950 and give Gabe $700/750 to find the book.

 

Couple reasons and please don't take this in a negative tone:

 

1) He found the book. Why would he screw himself out of profit in the near future? This isn't a low tier key issue only a niche are after. It's a mega key that tons in the market would love to add.

 

2) If I didn't take the book, than I miss out on a book in my collection because Gabe would look for another partner and as I said I wanted the book for my personal collection.

 

3)Those of you who say the bb28 is only worth $1,950 are looking at it through a narrow lense.

 

-a) 3.0s sell for around $3K, 2.0s sell for around $2K, heck even 1.5s have an average of $1900! So you're saying a 2.5 is worth the same as a 2.0 or a 1.5? I disagree. Look at how it presents and look at the page quality. Two big factors with an early DC mega key.

 

- In my opinion this book is worth $2500 (or even up to 2800 if I wanted to be aggressive). The low sale a lot of you are looking at is the last one on heritage that had two hole punches through the book. If you believe that it holds the same market value as the one copy I picked up... then that's fine but I disagree strongly and I'm sure the market would reflect that if I were to auction this off or try and sell it. No low grade book in the same grade are exactly the same which is why you see fluctuations. The average helps but there are always high and low sales. And again, BB28 is close to $1k/point... therefore this one is at or around $2,500.

 

So at the end of the day, I picked up a book $600-700 under market value. I doubt theres many sellers that will sell a CGC 2.5 for 1950 (especially a nice presenting one), if they do I would jump on it. Gabe got the profit he was hoping to get when he sells it in the future.

 

I spend a lot of my time looking at BB28... a lot. I've spoken to many sellers, I've seen what sellers here ask, I've seen what ebay, facebook, etc ask for the book. $1950 for this book was a win win situation for Gabe and I. GPA is a guide, it is not law.

 

Also as a collector I would pay the same if not MORE for a nice looking 2.5 than an ugly 3.0... which do exist. On any given day, I'm sure I could press this and resubmit and this could hit a 3.0 after inspecting it. I'm sure there are those who don't share that same belief but that does not mean I wouldn't be able to find a buyer in that 2500-2800 range.

 

Hope that clears things up.

I think most here were just confused as to how the deal actually worked as A) Gabe did not communicate it the best and the 'story' seemed to change a few times, B) Many people do find that a substantial "finders fee" and C) Gabe has been on the wrong end of a deal in the past so there was also that thought/concern.

Kudo's to you for honouring your agreement and at the end of the day, regardless of the real and/or perceived value, if you are both happy, then that is all that truly matters with this particular deal. It is a nice book and congrats on obtaining it.

Now about that credit card...

No Gabe mispoke about the case getting or being cracked. I never mentioned anything about that. Only rusty staples. I messaged him on fb after saying I didn't say that. He agreed. He may have mixed me up with someone else.

 

you can see how people might confused given the explanations provided. As for pricing, we perceived that Gabe was buying it as investment, hoping to sell for profit. In that case, one would generally be very conservative with the expected value, especially factoring in that Gabe is Canada, meaning more fees, customs, translations, and higher shipping, insurance, plus listing fees on ebay or auction houses.

 

So while I agree that both of you ended up with good deals and acted in ways that made fiscal sense, I think you were also being at least a little bit generous, and I hope that Gabe doesn't think that these types of deals will commonly turn out so favorable for him (or anyone), or that everyone is so generous.

You make a good point. I was on the generous side partly due to reading Gabes past Luck and also because bb28 gets the better of me

I did mention to him to follow a lot of the steps we went through to protect ourselves and to keep that practice going in the future ie getting personalized notes with the physical book on deals too good to be true, always pay via PayPal g+s, get signature on delivery.

I was going to sit this thread out but I figure I'd chime in because I bought the book from Gabe.

 

Lots of people criticizing why someone would spend $1950 and give Gabe $700/750 to find the book.

 

Couple reasons and please don't take this in a negative tone:

 

1) He found the book. Why would he screw himself out of profit in the near future? This isn't a low tier key issue only a niche are after. It's a mega key that tons in the market would love to add.

 

2) If I didn't take the book, than I miss out on a book in my collection because Gabe would look for another partner and as I said I wanted the book for my personal collection.

 

3)Those of you who say the bb28 is only worth $1,950 are looking at it through a narrow lense.

 

-a) 3.0s sell for around $3K, 2.0s sell for around $2K, heck even 1.5s have an average of $1900! So you're saying a 2.5 is worth the same as a 2.0 or a 1.5? I disagree. Look at how it presents and look at the page quality. Two big factors with an early DC mega key.

 

- In my opinion this book is worth $2500 (or even up to 2800 if I wanted to be aggressive). The low sale a lot of you are looking at is the last one on heritage that had two hole punches through the book. If you believe that it holds the same market value as the one copy I picked up... then that's fine but I disagree strongly and I'm sure the market would reflect that if I were to auction this off or try and sell it. No low grade book in the same grade are exactly the same which is why you see fluctuations. The average helps but there are always high and low sales. And again, BB28 is close to $1k/point... therefore this one is at or around $2,500.

 

So at the end of the day, I picked up a book $600-700 under market value. I doubt theres many sellers that will sell a CGC 2.5 for 1950 (especially a nice presenting one), if they do I would jump on it. Gabe got the profit he was hoping to get when he sells it in the future.

 

I spend a lot of my time looking at BB28... a lot. I've spoken to many sellers, I've seen what sellers here ask, I've seen what ebay, facebook, etc ask for the book. $1950 for this book was a win win situation for Gabe and I. GPA is a guide, it is not law.

 

Also as a collector I would pay the same if not MORE for a nice looking 2.5 than an ugly 3.0... which do exist. On any given day, I'm sure I could press this and resubmit and this could hit a 3.0 after inspecting it. I'm sure there are those who don't share that same belief but that does not mean I wouldn't be able to find a buyer in that 2500-2800 range.

 

Hope that clears things up.

 

I think most here were just confused as to how the deal actually worked as A) Gabe did not communicate it the best and the 'story' seemed to change a few times, B) Many people do find that a substantial "finders fee" and C) Gabe has been on the wrong end of a deal in the past so there was also that thought/concern.

 

Kudo's to you for honouring your agreement and at the end of the day, regardless of the real and/or perceived value, if you are both happy, then that is all that truly matters with this particular deal. It is a nice book and congrats on obtaining it.

 

Now about that credit card...

Fair enough and thank you! I'm actually very pleased with this 2.5 that I'm 90% sure I'm going to let my higher grade copy go to fund other stuff (baby items.... Or a golden age key )

Gabe,

 

Do you still live at home?

 

Yes

 

Without getting too personal, do your parent get involved with what you are attempting to do here for money?

 

I don't understand are you asking me if their taking my money for some of the deals I work on?

 

No. Are they aware of the risks you are taking, and how you will most likely get yourself into deep debt with little to no way out based on your current work load.

 

Yeah they do and they don't care since I'm over 18 and as long as they get paid.

 

They don't care what happens, as long as they first get their slice of the pie? Is this really what you meant to post?

That would be what I meant to post yes.

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Accounting classes

 

Chinese Lessons

why Chinese lessons?

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account.

 

Updates

 

I've been approved and signed up for the visa with a limit of 2k

 

My laptop got fried but I managed to get the files out of it so if you think I'm ignoring you guys I'm not.

 

BB28

 

The comic has been shipped so all I'm waiting for is that my friend is happy with the comic.

 

If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right?

 

Your stock AND personal comics will be WIPED OUT!

 

Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc

 

.. this is not a good move for you.

 

Agree times infinity.

 

This is trouble waiting to happen.

 

What is the interest rate on the card you were approved for?

 

 

 

19.99%

 

To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle.

 

Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends.

 

OK, and what happens when you buy a book on the credit card and then can't find someone to buy at a profit within 30 days?

 

If that were the case I would make sure it's a comic that I'd be able to pay off quickly before the interest rates come into effect.

 

If you could come up with the money to pay off the book in 30 days without selling it, why not just save for 30 days and buy the book with cash. No need for a credit card at all.

 

Honestly depends what that comic is and I'm trying to build up credit as well since I'm being hounded for it.

 

It is the credit card company's job to sell you a credit card. So because they are bothering you to get one, you got one? If I email you a bunch of times to buy something from me does that mean you will do it? Cut up the card and close the account NOW!!! You are acting like the card is a business card for comics. You don't have a comic business. You should not be buying anything on credit that you don't already have the funds for! Stick with cash and you will avoid problems. You and a credit card at this time in your life are a recipe for disaster! Work hard and save your money!

I know that it's their job to sell me what they have but this is possibly something that will work out for the better and I need to build my credit anyhow. I also mentioned when I buy something I'll have money within 30 days just in case to pay it off the reason why I'd use it because it would be faster.

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

 

Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account.

OP is not interested in advice, he is going to do what he wants. I doubt he'll post failures...

I'd avoid the coverless copy like the plague.

Scout deals for house of secrets 92 and wwbn 32. Obtainable books and people are red hot after them. Easy to flip.

Congratulations on earning a very generous finders fee from a fellow boardie!

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

 

Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account.

Now DO THIS ^^^

Until you get 3 months of living expenses saved up in a bank account, you should not be "investing" this kind of money in rolling "hot deals".

You need to build up your savings cushion FIRST. Once you got 3 months of living expenses saved - THEN you can start playing/investing in comics (but still, I would advise against doing big deals period.)

Congratulations on earning a very generous finders fee from a fellow boardie!

 

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

 

Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account.

 

Now DO THIS ^^^

 

Until you get 3 months of living expenses saved up in a bank account, you should not be "investing" this kind of money in rolling "hot deals".

 

You need to build up your savings cushion FIRST. Once you got 3 months of living expenses saved - THEN you can start playing/investing in comics (but still, I would advise against doing big deals period.)

 

+1,000,000

Gabe, you got a good deal...Use that good fortune to help yourself and stick at least $500 of that $700 into some kind of savings. Maybe use the little extra to invest in yourself (something you actually need). You only work 20-25 hours per week at a minimum wage job. You live with your parents still (do you pay for your own groceries, or any other household expenses?). If you lost your job and/or your parents wanted you out, could you support yourself? If the answer is no, then 100% put the $$$ into savings and use it as a nice start to building some financial security for yourself.

As for the credit card, you keep talking about building credit, well there is such a thing as "bad credit" too. If you are hell bent on getting a credit card, get a low interest one with no annual fees. Get something basic and if you are approved for a $2 grand, make your limit $1 grand or hell, even $500. IF building credit is all you really want it for but I suspect that is just a bit of a smoke screen.

...Coverless copy of TOS #39...I don't know how "good" of a deal it is, but selling a cover less copy of that likely won't be a quick flip.

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

 

Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account.

 

OP is not interested in advice, he is going to do what he wants. I doubt he'll post failures...

Failures? I've posted all of them here like I said before I have nothing to hide.

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

 

Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account.

I believe it took me about a year to sell my copy because it was incomplete.

I'd avoid the coverless copy like the plague.

 

Scout deals for house of secrets 92 and wwbn 32. Obtainable books and people are red hot after them. Easy to flip.

The copies that I've asked about people want too much for them but my TOS 39 copy sold within a month.

Congratulations on earning a very generous finders fee from a fellow boardie!

 

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

 

Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account.

 

Now DO THIS ^^^

 

Until you get 3 months of living expenses saved up in a bank account, you should not be "investing" this kind of money in rolling "hot deals".

 

You need to build up your savings cushion FIRST. Once you got 3 months of living expenses saved - THEN you can start playing/investing in comics (but still, I would advise against doing big deals period.)

 

I do have at least three months living expenses saved up.

Congratulations on earning a very generous finders fee from a fellow boardie!

 

I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700?

 

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

 

Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account.

 

Now DO THIS ^^^

 

Until you get 3 months of living expenses saved up in a bank account, you should not be "investing" this kind of money in rolling "hot deals".

 

You need to build up your savings cushion FIRST. Once you got 3 months of living expenses saved - THEN you can start playing/investing in comics (but still, I would advise against doing big deals period.)

 

 

+1,000,000

 

Gabe, you got a good deal...Use that good fortune to help yourself and stick at least $500 of that $700 into some kind of savings. Maybe use the little extra to invest in yourself (something you actually need). You only work 20-25 hours per week at a minimum wage job. You live with your parents still (do you pay for your own groceries, or any other household expenses?). If you lost your job and/or your parents wanted you out, could you support yourself? If the answer is no, then 100% put the $$$ into savings and use it as a nice start to building some financial security for yourself.

 

As for the credit card, you keep talking about building credit, well there is such a thing as "bad credit" too. If you are hell bent on getting a credit card, get a low interest one with no annual fees. Get something basic and if you are approved for a $2 grand, make your limit $1 grand or hell, even $500. IF building credit is all you really want it for but I suspect that is just a bit of a smoke screen.

 

...Coverless copy of TOS #39...I don't know how "good" of a deal it is, but selling a cover less copy of that likely won't be a quick flip.

I would be able to support myself for three months and I pay for room and board. I do know about bad credit which is why I'll be careful with it. For the coverless TOS 39 deal I don't know the price either but if it's not what I want to pay I won't buy it. the visa has no annual fees which is a big reason why I chose it.

3)Those of you who say the bb28 is only worth $1,950 are looking at it through a narrow lense.

 

-a) 3.0s sell for around $3K, 2.0s sell for around $2K, heck even 1.5s have an average of $1900! So you're saying a 2.5 is worth the same as a 2.0 or a 1.5? I disagree. Look at how it presents and look at the page quality. Two big factors with an early DC mega key.

 

- In my opinion this book is worth $2500 (or even up to 2800 if I wanted to be aggressive). The low sale a lot of you are looking at is the last one on heritage that had two hole punches through the book. If you believe that it holds the same market value as the one copy I picked up... then that's fine but I disagree strongly and I'm sure the market would reflect that if I were to auction this off or try and sell it. No low grade book in the same grade are exactly the same which is why you see fluctuations. The average helps but there are always high and low sales. And again, BB28 is close to $1k/point... therefore this one is at or around $2,500.

 

So at the end of the day, I picked up a book $600-700 under market value. I doubt theres many sellers that will sell a CGC 2.5 for 1950 (especially a nice presenting one), if they do I would jump on it. Gabe got the profit he was hoping to get when he sells it in the future.

First I think your buy out price was very generous towards gabe, so expect lots of comic karma in the future!

I think a lot of the worry was that the buyer was making decisions based on just gabe's advices, which could come back and bite him. You seem like you have a good read on the market activity (and a GPA subscription!)

just remember you are basing your feel of the low end market which has been impacted by two outlier sales in the last year (a 1.5 selling for $2375, and a 2.0 selling for $2700). Considering most of the market is in HOLD mode with BB28 with 14 months of buildup towards next years movie, there arent many copies out there for sale at non-Whale prices (these are prices that are 2-3x the recent market, hoping for some non-comic collector to come along and buy it, like say a low level DC exec wanting one). The few books on the market will get snapped up and overly influence the market (less books on the market, more buyers). If you are buying it as an investment, next years Comicon will be the time to sell for sure...

Also as a collector I would pay the same if not MORE for a nice looking 2.5 than an ugly 3.0... which do exist

well said, and many in the market agree with you which is why you can see some 2.5s sell for more than 3.0s. Or a 3.0 sell for less than a 2.0 depending on WHAT the defects are that determine the grade.

.. hang on a minute .. I think everyone (including Gabe) is missing the elephant in the room...

Gabe, ..... you said you weren't going to do any more deals until 2017?

.. what are you doing? You say you listen to everyones advice .. and then do the opposite

Every person here is trying to help you. Please take some sound advice.

I think he should spend his money on Cheetos and Code Red Mountain Dew...

and maybe voice-acting lessons.