Rich Johnston has the exclusive news that this week’s record comics sale of $1 million for an issue of ACTION #1 has already been broken by a copy of DETECTIVE #27 which sold for $1,075,500. That issue, of course, reprints presents the first appearance of Batman. The Caped Crusader is topping the Man of Steel yet again.
Johnston observes:
What’s remarkable is that until this week, no comic had ever broken the half million barrier. This week two comics have broken eight figures. Where the hell is this recession everyone’s been going on about?
The ComicConnect.com website has been slammed, but shows five figure sales for many key Golden and Silver age books. And at least one modern comic going for a nice piece of change: a perfect CGC 10.0 copy of WOLVERINE #1 from 1982 is priced at $16,000.
” Where the hell is this recession eveyone’s been going on about?”
So this close to a year unemployment drought that I’ve been experiencing lately must a figment of my imagination.
~
Coat
If you can’t afford that $16,000 mint copy of Wolverine #1, there’s a copy in good condition on ebay for $2.25 + s&h.
The Beat, I would LOVE an article about CGC grading, cause uh, I just don’t get it! I mean, how in the world does a copy of a book that sells for $40. at MINT go for $16,000. at CGC 10.0 (which uhm, should mean it’s MINT!? Right?) It’s madness.
I think CGC is a giant ripoff. Suddenly something is graded with CGC and for no reason at all people think they can price the thing for 100 times or more what it’s worth. How does this logic come about? And who are the idiots buying these things?
Madness.
>> That issues, of course,reprints the first appearance of Batman. >>
No, it doesn’t. It prints the first appearance of Batman.
If you could get a million-plus for reprints of that story, I’ve got a few I could let go for half that…
kdb
Nathan:
Fool. Money. See also: Barnum, Phineas Taylor
CGC offers a set criteria for grading comics. A CGC 10 on two comics means that they are the same quality, the same grade.
If there are flaws, CGC notes them for the copy, and maintains that information in a database.
CGC also maintains a census of every issue they have graded and slabbed, so one can check the pedigree of a particular copy.
Knowing the sales prices and grades for certain issues, one can extrapolate a general worth for other, less perfect copies.
This sort of thing is not just in the comics community. Coins and cards are routinely slabbed.
The irony? The big joke? That million dollar comic? It’s not in an air-tight archival container.
Here’s what’s crazy:
http://www.comicconnect.com/bookDetail.php?id=300107
3/5th of front cover of Action #1
Sold for $6,800. After 46 bids. Grade 0.3
I’d sell you a bridge, but they don’t make slabs that big.
Awesome.
In other news, I just watched three bums fight to the death over the last scraps of tuna left in the can I threw out last week.
Long Live the Batman.
Cary, I was being ironic. I lost my job back in May.
“Where the hell is this recession everyone’s been going on about?”
The 1990s comic bubble started just as the recession in the rest of the economy was getting started. The bubble burst after the economy had recovered.
Perhaps comic books are a counter-cyclical investment that people use as a hedge when everything else is going south? But if so, that is also counter what usually happens to the market for art and collectibles in general, which is typically hardest hit during recessions.
GCG does provide a valuable service for those buying comics on the internet. Especially key, high grade, high priced comics like this. There are a lot of books out there that have been messed with in order to get the most money out of them. A detached cover or centre page glued back on, colour touch, small tears sealed, etc.. some of which can quicken the demise of the book. Now if you are experienced in spotting these things and can examine the book up close at your leisure you can often spot these things. But on the internet, based on a scan that could’ve been photoshopped?
That’s where CGC comes in to play. You know the book has been looked at/graded by an impartial person using extensive measures to find detectable forms of restoration. The book is then sealed to ensure the grade remains intact. People are willing to pay extra for that level of security.
And no, the containers aren’t air tight, that would also quicken the demise of the books. I’m no scientist but my understanding as the comic slowly deteriorates over time it releases a substance that it harmful to the book. The book needs some air to let that substance escape, otherwise it remains locked in and does more damage.
CGC does put in a piece of special micro-chamber paper to absorb these chemicals inside the comic and in the slab. They recommend getting the book re-slabbed every 7 years because the paper is only good for that long.
I’m happy to see books selling at record prices. Heritage did a cool job putting the Tec 27 on The Times Square building. I hope it brings some good attention to the hobby again. If not. It’s its own damn fault.
Heidi must be using some definition of “exclusive” that does not actually mean “exclusive.”
http://www.heritageauctions.blogspot.com/
So, Action #1 isn’t the Holy Grail after all?
Or is it the Holy Grail, and Detective #27 is the Black Stone of the Kaaba?
Me… I’m searching for the Bookshelf of St. Jerome.
“So, Action #1 isn’t the Holy Grail after all?”
Who?
Pffffffffffftttt. Got his cape stepped on…