News officially dropped on Tuesday morning that the buyout offer for a CGC 8.0 copy of Batman #1 was accepted by Rally shareholders. The anonymous offer was for a record $2 million, beating the previous record of $1.44 million in September 2021.

This sale represented an 11% increase from the initial IPO and, as is standard practice at Rally, the shareholders all were allowed to vote on the sale beginning this past weekend. In an email sent to shareholders (of which I am one), Rally stated that 89.8% of share-weighted votes and 62.1% of overall investors voted "Yes" to selling the book. A simple majority is normally needed to sell an asset (Rally has MANY more than just comic books).

The high number of approval was somewhat of a surprise to me because I was one of the minority shareholders that voted "No." Here's why.

Personal Context

As I'm sure was the case with most shareholders, the personal perspective I brought into this decision was the variable that I weighed the most. I am invested in more than a dozen assets on Rally, and am hopeful to stay in these assets for the very long game. I personally don't need access to my invested funds right away, and right now it's not a major slice of my overall long-term investments.

My (somewhat) extensive knowledge of collectibles and their appreciation over time was a driving factor in my hope that Batman #1 would not sell and I could let this book marinate for 15 or 20 years and let its value explode exponentially. Others may have needed access to their funds right away or wanted to invest their dividends in other Rally assets, so it becomes a very personal decision for the hundreds of people involved.

But the simple history of this book's sale had me hoping we could all hang on longer.

Batman #1 CGC 8.0 History

In the GoCollect database, there are only six copies of Batman #1 in this grade. Globally, there are only seven copies with a higher grade in existence. Due to the scarcity, age, first appearances of Joker and Catwoman, and popularity of the main character, this is one of the most desired books in the entire comic book world.

Those factors likely led to the fact that this $2 million purchase price is a 39% increase over the September 2021 sale. That $1.44 million sale in late September 2021 was $400,000 more than the previous sale in April 2021. That sale was $500,000 more than the previous one in September 2019. And on and on it goes.

Will $2 million represent the ceiling of this book's value? Likely not. Based on the history of the book, this should continue to climb over the long term, barring some catastrophic collapse of the collectibles market. I understand the motivation to be a part of a record-breaking sale, plus the rush of funds magically appearing in your Rally account, but I can't help but think where this book would be in five years.

Selling is More Exciting Than Holding

Listen, I totally get it. Holding onto the asset is boring. It's milquetoast. Rally doesn't get to put out posts on social media or distribute the press release if the book is not sold. I have already seen many, many people retweeting the Rally post with how excited they are to have been a part of history. The adrenaline rush and dopamine injection we get from being a part of this history are exciting.

There are also many people who treat Rally's assets as more of a short-term stock game. Now that there are regular periods where assets can be bought and sold among investors, there is always the chance to make some quick money if you guess right on a desired collectible. In comic books on Rally, these values are also susceptible to movie news, casting news, or other market swings. Investors can make that quick money and move on to another asset. This decision to sell was just a macro-version of those more regular transactions. And it's exciting.

What Will I Do With My Payout?

I own less than 10 shares in the book, so it's not like I'm planning my retirement or anything. What I will likely do is reinvest in some of the other books that exist on Rally that are in trading periods. Some examples available now are Batman #2 (CGC 9.0), Fantastic Four #5 (CGC 9.2), and a rare 1979 Boba Fett prototype toy with firing rocket.

As I mentioned before, I am in these for the long game. My age, financial status, and interest level all lead me to that decision. And I am someone that enjoys the feeling of owning shares of many types of assets. Is that for everyone? Clearly not. Many I talk to in my comic book community can't fathom owning a slice of a comic book they can't see or touch.

But the sale of this book makes one thing crystal clear. The comic book market is still a very strong and desirable one, and the best, most famous books are still the best ones to own. But at least this shareholder will be monitoring the value of a CGC 8.0 Batman #1 over the years to come and will be wondering what might have been.

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