George Lucas is a very successful filmmaker.  He gave us Indiana Jones and Darth Vadar.   However, this very same man gave us crystal skulls and Jar Jar Binks.  His track record demonstrates that even with successes we can also experience failures.  Here are a few of my comic book investment failures that altered my way of thinking.

Follow the Hype

People invest in comic books that have historical significance that transcend the hobby and become culturally identifiable.  An example of this type of comic book was Alpha Flight #106. This issue was featured on the nightly news because Northstar came out as being gay. It was a book that reflected people our society ignored till then.   Investors bought this book in bunches to hold.   Fear Of Missing Out (FOMO) drove investors to this book.  We were told that this was an issue that could only rise in value later because of its historical importance.

After the initial hype interest in this book died down. As a result, the first comic character coming out as gay was not that important to investors.  Currently, in auctions, this issue sometimes does not even register as a semi-key issue.

Lesson: Trust Your Instinct and Ignore the Hype.

Publishers need to sell books to be successful.  Great stories sell books.  Great art sells books.  People buy characters they like. In addition, using current events to sell comic books is also a ploy used by publishers.  Northstar came out and the price of this book soared.  Then people realized that he was not that interesting a character.  His coming out was the only thing that made him important. Prices dropped and I was stuck with three copies of a book I should not have bought.

Golden Age versus Silver, Bronze, and Copper Age

Readers must be selective with their purchases unless they are independently wealthy.  eBay, private auctions, and Comic-Cons have a wide variety of books for sale.  At my first comic-con, I wanted to buy two books, but could only afford one.  I had to decide between Catman Comics #4 or Amazing Spider-man #121.  The Catman comic is not a key book.  Charles Quinlan is not an iconic artist.  The only reason I wanted the book was that it was a golden age book in a nice condition that I could afford.

In contrast, the Spider-Man issue featured a historic death of a major character.  The comic book was in great condition.  Investors and collectors know that early Spider-Man books of any importance are a great comic book investment.  This book was iconic. The issues were listed for the same sales price.  Reviewing everything, the correct decision seemed an easy one.

Lesson: When in Doubt, Look at the Numbers

I failed in this transaction to pick the right book. The correct decision was to buy the Catman book.  There are 21 total issues in the census but 15 total sales. Very few issues exist, and yet there is demand for this title.  The Spider-man issue has roughly 5,800 copies and numerous sales.  It would not have been that hard to find this book at a later date even if I might have to pay more for it.  Finding the Catman issue was next to impossible.

It was explained to me by peers that a rule of thumb is that the older the issue or smaller the publisher the harder it will be to find. Everyone can find an Ultimate Fallout #4 or New Mutants #98, but how many Whiz #9 do you think you will see? In conclusion, if you see a rare book buy it.

Jonah Hexed

Jonah Hex is a second-tier DC Comics hero.  His first appearance was in All-Star Western #10.  I had a copy of this book in Fine + condition many years ago.  I ended up including it in a deal to obtain a few key superhero comic books.  The person who made the deal was even so kind as to give me more in FMV than my books.  The centerpiece of his offer was the first appearance of John Stewart in Green Lantern #87.  This book was in VF condition and with all the other key books I was getting how could I turn down this deal.

Lesson: Genres Matter

I regret this deal to this day.  I should have realized that the genre of comic books matter sometimes more than the FMV.  Horror, War, Western, and some Independent key comic books sell at premiums well beyond their FMV.  In addition, finding these books is more difficult than finding superhero keys.  The reason is that there are more buyers for these books than there are sellers.  In addition, the number of these books is already less than many published superhero books.

When these books do come up for sale, the bidding can be fierce because of the infrequency these books come to market.  Many collectors and investors will bid on these books creating a selling frenzy. You will see Green Lantern #87 at many comic-cons and on eBay in great numbers.  The number of All-Star Western #10s you will find will be far less. Buyers know this and will not pass up on these books.

On a side note...

I attended a private auction where the second owner of my All-Star Western #10 put my book up for sale.  The provenance of that book revealed me to be the original owner. I wanted that book back so badly that I  bid from my heart and did not use my head.  I did not win the book back.  It sold for well beyond its FMV raw!  Even now I regret not purchasing that book a second time.

Conclusion

You can learn more from your failures than from your successes.  I wish that GoCollect was around back when I made these mistakes.  This would have allowed me to research the numbers of sales and FMV prices. I could also have looked at how many books existed in the CGC census to reflect on the frequency that these books do come to market. The genre of the books also plays a significant factor in the transaction.  Finally, the most desirable and investment-worthy comic book may not receive the most hype or be the most common genre. That does not mean it is the wrong choice!

Educate yourself on these key factors.  In addition, learn from mistakes.  If you do not, you will keep making them. No one is perfect in the world of comic book investment. In the comic book marketplace, this will cost you money and key books. That price is too great of a one to pay.

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