A person who fishes rarely reveals a honey hole; as soon as word gets out, everyone will be there dropping their line. I have kept a secret that has given me an advantage as a comic book hobbyist. This secret was given to me decades ago and I have kept it until now.  As a writer for GoCollect, I have provided many tips but now I am giving away a major one.  First, I have to provide a nice disclaimer...

FULL DISCLOSURE

I have provided legal business law advice to a  company mentioned in this article for over two decades.  

More than one game

One of the most common mistakes made by buyers and sellers is that there are more than a few ways to buy and sell comics.  The self service methods and platforms have already been discussed in part one of this series.  As mentioned in part two, sellers looking to liquidate their higher end books and do not want to handle the transactions themselves have Heritage, ComicConnect, Hake's, and other large auction houses.

The issue is where the majority of books in a collection can be sold that does not involve the collector handling the sale.  In-the-know hobbyists utilize other avenues to buy and sell books that give them an advantage rarely used by others. I am now about to reveal a new world to some of our readers that is past due.

Shhh...Keep this to yourself

Key book up for auction

One store in Michigan realized a problem many years ago  for sellers and buyers.  Back to the Past started out as a comic book store in Michigan .  The store would sell everything from new comics all the way to high-end books like near-mint copies of Incredible Hulk #181 and Golden Age books.  Back to the Past survived the peaks and valleys of the good and bad times by knowing their market and trying to meet those demands.

Several years back, the original owner noticed a need for an auction house to sell comics that was in between eBay and Heritage.  Sellers could maximize the prices for their collections.  Buyers could have access to a revolving selection of inventory.  They would focus on the sweet spot of the comic book marketplace that was all but ignored in the region.

Middle ground

Whereas Heritage Auctions would handle only higher end collectibles and eBay was a do-it-yourself auction site, Back to the Past would handle the middle ground.  They would sell common issues all the way up to those higher end books.  Hobbyists now could sell books in one sale that would run the gamut of most people's collections.

Sellers did not have to part with their keys books while left holding the bulk of their collection. The owner also kept the retail section alive so as to not alienate long-term customers but he knew the future was the auction side of the business.

A store's evolution

Bidder reviews auction lots pre-auctionBidder reviews auction lots pre-auction

Under current owner Christopher Scott Lovejoy, Back to the Past realized that the need for a comic book store was much lower than for a collectible auction house. As a result, the store recently eliminated its retail segment.  People can still sell their items to the store, but most go the auction route. The reasons cited are:

  1. The store has to deal with all the logistics of the sale including photographing, listing, and sometimes sending out to third party grading companies.
  2. The owner and staff grade and describe each item to make the piece more attractive to bidders if the items are not graded by companies like CGC.
  3. Years of business experience has meant a very large customer base  bid on items.
  4. The store has skin in the game, so they want to sell items for the best price possible.
  5. The ability to sell an ENTIRE collection rather than only a select few items at one time.

The final reason is cited by many consignees. They need money fast to either upgrade their collection or pay for other expenses.

Past comic keys sold

Mega keys such as Incredible Hulk #181 (1st* Wolverine), Amazing Spider-Man #14 (1st Green Goblin), Our Army at War #83 (1st* Sgt. Rock) and others have all walked across the auctioneer table. Non keys and niche books also sell because of the groupings arranged by the staff.  Employees pride themselves on ensuring that lots sell for the most money they can generate.  Buyers like the auctions because many books can be viewed in person that might not be possible on an online only platform like eBay. Sometimes, a rare book becomes available, like the first appearance of Marvel's iconic Dr. Doom or pre-code horror books.

What once started with only local sellers has now gone national.  Sellers can deliver their items to the facility or it is  possible for the staff to come to the seller and pick up items if warranted. This type of customer base is good for both collectible buyers and sellers.

A collector's taste's may vary

A collection ready for the auction

Many items have walked through the door to be sold at Back to the Past's auctions. Unique Star War toys that may have been prototypes and other unopened New Hope first issue toys drew nationwide interest.  The seller was not aware of the value and hoped for a few hundred dollars for this mega collection that they could have received at a garage sale. Imagine their surprise when buyers pulled up for the online and live auction with U-Haul trucks in anticipation of winning those lots.

Collectors' tastes vary, so sometimes a comic book auction will also have original art or toys as well. Comic books, video games, movie and concert posters, and other ephemera may fill the lots. Even a megalodon tooth was sold as a part of a  collection. The staff evaluates and groups the items to receive the highest bid for each item.  The key is to put on the best auction possible for each unique collection.

Owner's advice

Back to the Past owner Christopher Scott Lovejoy says one of the biggest mistakes sellers make is to destroy the character of the collection. A Giant Size X-Men #1 will always sell, but if it is part of an auction it will also bring eyeballs.  Many times good books are sold from the collection, leaving remnants to sell.  Having good books in a collection will draw bidders that will drive prices up for the whole collection.  These key books will generally sell for around the same price that was achieved if the item would be sold separately, but once removed they cannot help the rest of the collection.

Lost opportunity

Live and Online Auctioneers

Most people make a mistake that limits their ability to profit more from auctions.  Key books will always perform well, but Scott says where most people leave the meat on the auction's bones is in the common books.  Many sellers who use eBay see this when their better books sell while many common books never even solicit one bid. Laying out an auction is important because the more eyes and interest on items, the higher the bids will be for these books.

Key books drive auctions and help sell common books. Maximizing the dollar for these books is where most auction houses fail. These books do have a market.  The key is knowing where to find them. That is where Back to the Past and others succeed. They know their target customer base.

What...there are other auction online platforms

Back to the Past has utilized an online platform unlike eBay that allows for bidding so that last minute bids will not be a successful formula to win lots.  Soft bidding means that each last minute bid ads more time for the lot.  In addition, certain auctions can also have a live component if the auction house determines that is what is best for both the seller and auction house.  That means live attendees can bid against online bidders for the same items.  This can create a frenzy of bidding. Remember that the more money an item sells for, the better the results for seller AND the auction house. In the end, everyone wins.

Other choices

There are other auctioneers like Back to the Past that sell comic books and collectibles. They were created to meet the demand that had previously been ignored by Heritage, Sotheby's, and Christie's. Each auction house should be evaluated to determine the level of service and their fees before entering into any contract.

An auction house that sells comics and other collectibles may only have limited experienced with those items.  This may provide them a limited customer base to target. Others may not advertise books that would otherwise draw serious bids. Some may try to pick the best items from the collection and leave the rest, like Heritage.  The fees for these auction houses also can vary based upon the services they provide. The key is to find the best one that will meet the seller's needs.

Not endorsements

Every method mentioned to sell comics should be evaluated before signing a contract. The biggest mistake made by sellers is to rush their decisions and not explore ALL their options. Sellers have spent great amounts of money and energy to accumulate their collections so they should invest time and energy when selling it. Ask questions.  Also request and review past users of the auction houses or sites to gauge their satisfaction levels.

The different methods of selling comic books are tools of the hobby. Each has it's own benefits and detriments that should be evaluated.  Knowing them will allow people to make a well informed decision when it comes time to sell books. The knowledge will also allow buyers to find books that would have otherwise been ignored.

*Any perceived investment advice is that of the freelance blogger and does not represent advice on behalf of GoCollect.