Today's news brings word that the world record price for a comic book has been smashed yet again, this time an Action Comics #1, featuring the first ever appearance of Superman, brought $1,500,000!
A similar comic brought $1,000,000 in February, but this example brought $500,000 more because it was in BETTER CONDITION. Now, I'm sure the person who sold this book is quite pleased that they paid "whatever it takes" some years back as this premium translated to a $500,000 premium on the back end. The auctioneer who handled the sale is quoted as saying "The book looks like it came off the presses yesterday. It's a stunning copy, it almost looks brand new."
This is just another example of what we've been instructing our clientele to do. If you get the opportunity to buy a finest known poster for $12,000 that everyone else thinks is "worth $8500", you are one lucky collector. That $3500 premium now puts you in the catbird seat and allows you to ask whatever you wish down the road. I bought 6 coins for an "extra premium" of about $200,000 total, and today those coins are worth an extra 6 or 7 MILLION dollars. That's the way the collectibles market works. Always has worked that way, always will. Some people understand the concept right away, some never at all. You need to figure out which group you are in.
Also, this recent news further reiterates why we believe that museum quality Mint Condition posters are stupid cheap. The finest known examples of the most famous issues are still priced for a song. This situation is changing as you read this, act quickly before the window of opportunity slams shut forever.
I urge you to take three minutes to read the whole article on the record comic book here:
http://www.cnn.com/2010/SHOWBIZ/03/30/superman.comic/Also, if you enjoy these commentaries, please click on the title of this post and leave a comment!