I Sold A Book Too Soon & How To Avoid It

by Robert D'Ottavi

clean-7-copy-300x147 I Sold A Book Too Soon & How To Avoid It

Everyone here loves comic books. We wouldn’t be reading an article on a website (mostly) dedicated to comic book investing if we didn’t at least love these weird forms of storytelling. However, underneath that love, if you invest in comics, you probably want to make some money. In this piece today, I will go over my silliness, and lack of patience regarding a very important comic book, with a pretty good grade. Alas, I sold a book too soon, and this is how you avoid it.

I Sold A Book Too Soon & How To Avoid It

It was a quiet day in late June and  I was bored out of my mind. While mindlessly scrolling through Facebook Marketplace, I came across a copy of Fantastic Four #52. At the time, the book was ungraded, but from the images I saw, it looked… dare I say it, good? I did a tiny bit of research and found that the asking price on Facebook was perfect. I sent an offer, and within hours, I transferred a mere $200 (AUD) to a man I had never met in Perth. Once the book arrived, I immediately sent it off to the States for grading by CGC (which cost me an additional $130). I knew this was the method, and I wanted to maximize my profit. Being in Australia, the book definitely took its time to sail back home. Upon seeing the 7.0 grade, I was ecstatic. I knew that I had invested wisely and that this purchase was going to pay off. So, I did what anyone does when they have invested well; I look to sell.

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Scrolling through eBay page after eBay page, I determined that my 7.0 copy would be worth anywhere between $1,200 and $1,500 (AUD), a rather successful return if you were to ask me. Following this realization, I threw it online, and waited for the money to roll in… and then it never did. Weeks went by, and not a single offer. Being impatient, I lowered the price to $950 (AUD), and still, nothing. Months went by, and the book sat there, gathering online-dust. I decided enough was enough, and I did what no one should ever do… I allowed people to bid for the book. As you would have guessed, someone did buy it. The book sold for $650 (AUD), a rather disappointing return when once promised upwards of $1,200.

Sure, I made a profit, but I should have made more. You see, it was my impatience that led me to this decision. The other day, I scrolled through eBay and saw a similar grade sell for $1,700 (AUD). I had been duped! However, I look at this experience with fondness. Selling this book too soon taught me valuable lessons that I never would have learned otherwise. Patience is the name of the investing game. Selling your books is important, but only when there is a demand for the product. As an example, you would be foolish to sell Eternals #1 today or tomorrow, hell, with this pandemic going on, we don’t even know if the movie is coming out this year! Supply and demand is the name of the investing game, and I learned that the hard way. So, I implore you all to take a minute now and just assess all your books. Determine which ones are really in demand right now, and which ones can wait until next year.

 

 

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1 comment

Richard G. March 22, 2020 - 8:30 pm

very true,, one of the keys to this hobby is patience,, i remember looking for a particular comic book one time and I was “impatient” so I decided to just buy it online,, later do I know every comic con after that I would find that same comic book in the dollar bin when looking for comic books,,, patience is a vurtue in this hobby. switching your ebay account from AUD to USA proly would have helped you too I I think.

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