Moon Knight Episode 4, premiering on April 20, had a neat twist at the end that was pulled directly from Jeff Lemire and Greg Smallwood’s run on the title.  Did key issues rise or fall?  Let’s take a look at how the market reacted to this latest episode.

*Spoiler alert

Moon Knight in the Insane Asylum

Marc Spector and Steven Grant were both found to be in an insane asylum at the end of Moon Knight Episode 4, reflecting the work of Jeff Lemire and Greg Smallwood in the Moon Knight 2016 series.  We also saw some other craziness, but we won't get into too many spoilers here.

The first issue of that series, Moon Knight #1 (2016), has a cover with Marc in a straightjacket, so it would seem to be the issue that people would gravitate toward.  Alas, that was not the case.

Only two 9.8 graded copies were sold after the premiere of the episode.  One sold for $135, the other for a slashed $135.  Both sales were below the 30-day, 90-day, and 1-year averages, as well as the FMV.  And this issue wasn’t alone.

The Moon Knight Correction

It appears that the Moon Knight correction is now in earnest.  We noted in last week’s Market Reaction column that some Moon Knight keys were beginning to trend downward.  That downward trend continued this week, and it was pretty much across the board.

Werewolf By Night #32 saw a reduction in the volume of sales, with only three CGC graded copies being sold.  All three grades – 6.0, 5.0, and 4.0 sold for less than their FMV and below the 90-day and 1-year averages.

Marvel Spotlight #28 sold in higher volume – six copies sold – but all but one sold for a price below average.

Moon Knight #1 continued to sell at a high volume.  While there were some sales that edged out the averages, the majority of sales continued the downward trend.

Some once-key issues barely registered at all.  Moon Knight #1 (2014) – one sale, below FMV.  Secret Avengers #19 – no sales.  Moon Knight #3 – no sales.  Moon Knight Fist of Khonshu #2 – no sales.  Barring a surprise in the last two episodes that would cause an issue to suddenly jump in value, I don’t see this trend abating soon.

Other Early Appearances

People have asked about Werewolf By Night #33, Werewolf By Night #37, and Marvel Spotlight #29, Moon Knight’s second, third, and fifth appearances respectively.  How have these issues performed since the start of the series?

Werewolf By Night #33 sold at a very low volume when the series first premiered.  That all changed on April 10.  Since then, eleven graded copies have sold.  In all but the highest grades, sales have been at or below FMV and the averages.  A 9.2 copy sold for $995 on April 12.  Not a record-setter, but above the 90-day average and FMV.  A 9.4 copy sold on April 16 for $1,297.  Again, not a record-setter, but above FMV.

Unfortunately, the same can’t be said of Marvel Spotlight #29.  Volume has been low since the start of the series and sales have been at or below FMV and the averages in nearly every case.

The one bright spot has been Werewolf By Night #37.  While very few graded copies have sold since March 30, those that have are seeing price bumps well above FMV and the averages, somewhat surprising when you consider that the Moon Knight appearing in that issue is little more than a phantasm.

Are you watching the Moon Knight series?  Are you buying or selling Moon Knight keys?  Do you think the Moon Knight correction will continue?  Let us know below.

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