shaxper
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Post by shaxper on Aug 17, 2014 19:58:31 GMT -5
As impressive as this auction is going to be, I have to wonder if the rumors about a higher grade copy existing (9.2 I think?) is going to affect the final value. Whoever is willing to shell out 3 million for a 9.0 is likely willing to shell out a little more to get the highest graded copy known to exist.
And if the story about the owner declining the 3 million offer in order to give everyone a chance is on the level, that's darn impressive. Even if he gets 3.2 million on this auction, the ebay and paypal fees are going to be astronomical.
Anyone know what the most expensive final value ever on ebay was?
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Post by Deleted on Aug 17, 2014 21:05:44 GMT -5
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shaxper
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Posts: 22,860
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Post by shaxper on Aug 17, 2014 21:25:19 GMT -5
I'm actually surprised that the highest sale ever on ebay isn't higher. Don't people sell houses on ebay? I figured there must have been a mansion or two that went for sale for above 1.2 million. In fact, wasn't a Detective #27 sold on ebay for 1.5 mil? |
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Post by Deleted on Aug 17, 2014 21:27:49 GMT -5
I thought it would be higher too. I think that Tec 27 was at Heritage. The article I found was from 2012 so the record could have been broken by now.
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shaxper
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Posts: 22,860
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Post by shaxper on Aug 17, 2014 21:28:57 GMT -5
I think you're right that it was through Heritage.
Maybe that's why ebay is cutting this seller a break -- they want the status of being the place where high end collectibles are sold.
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Post by Deleted on Aug 17, 2014 21:33:18 GMT -5
Don't forget the owner is donating a portion of the proceeds to Christopher Reeves foundation as well, he could have just pocketed the $3 mill and walked but he is trying to do something special with this book, and for that I give him mad props and hope the book does really really well at auction for him.
-M
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Post by Deleted on Aug 17, 2014 21:34:11 GMT -5
Yeah, and I think they want to give Sotheby's a little competition. I guess they figure rather than scare all the million dollar diamond necklaces away they can just take a smaller cut. Two percent of a million is more than ten percent of a thousand and all that.
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shaxper
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Posts: 22,860
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Post by shaxper on Aug 17, 2014 21:34:20 GMT -5
Don't forget the owner is donating a portion of the proceeds to Christopher Reeves foundation as well, he could have just pocketed the $3 mill and walked but he is trying to do something special with this book, and for that I give him mad props and hope the book does really really well at auction for him. -M Didn't know that part. Impressive. Holy Crud, man! When did you become an administrator? Why don't people tell me these things... |
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Post by Deleted on Aug 17, 2014 21:35:38 GMT -5
Don't forget the owner is donating a portion of the proceeds to Christopher Reeves foundation as well, he could have just pocketed the $3 mill and walked but he is trying to do something special with this book, and for that I give him mad props and hope the book does really really well at auction for him. -M Didn't know that part. Impressive. Holy Crud, man! When did you become an administrator? Why don't people tell me these things... Part of the deal with Mephisto man! -M |
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shaxper
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Posts: 22,860
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Post by shaxper on Aug 17, 2014 21:36:29 GMT -5
Didn't know that part. Impressive. Holy Crud, man! When did you become an administrator? Why don't people tell me these things... Part of the deal with Mephisto man! -M Ladies and gentlemen: "CCF: Brand New Day" |
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ironchimp
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Post by ironchimp on Aug 18, 2014 7:09:49 GMT -5
art's always been a good way to launder money or transport huge sums across borders in the form of paintings. Action 1's probably one of the few comics that could end up in that world. Not if every sale is going to be front page international news. A huge part of the books value is it's certified grade too, which comes with a serial code, and somewhat of a trail of ownership that I doubt shady people would like. Nowadays there's prepaid cards with maximum values in the five figures that are popular to move across borders. That's what the drug cartels like anyway. Fine art sales are monitored too and the police had dedicated fine art squad but auction houses in the US, UK, and Switzerland are basically fencing operations which didnt sign up to any international art sales treaties. During the height of the Medellin years when they finally busted the kingpins they found huge art collections. small 5 figure or 6 figure deals are below that market - once you get into 8 figure deals thats when things start to get diversified. There's a brief account of some US art dealers who were finally caught www.forbes.com/2003/04/08/cx_0408hot.html |
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Post by Deleted on Aug 18, 2014 12:20:48 GMT -5
Some of those prepaid cards have unlimited max balances. And of course they wouldn't be bothering with a single card, but stacks full of them, shoeboxes full. I don't think there's many criminal organizations dealing with larger sums than the Mexican drug cartels. The cards are what this guy uses to get his money across a border.  The thing that complicates things with art is it's not nearly as liquid as a prepaid card with a balance. It's also not as stable in value. What it auctions for one day it might not the next. And yeah, the feds are probably keeping a close eye every time a ten million dollar painting is sold. Just sounds like a bad idea for someone wanting to keep a low profile. |
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Post by Ish Kabbible on Aug 18, 2014 12:37:38 GMT -5
Ran into my buddy today who sold his copy of Action #1 (the one I told you about months ago that went missing for 48 hours). CGC graded his book at 8.0 and he sold it to a private collector on the west coast.Same guy I sold my collection to. He told me Steve Geppi of Diamond Distrib. has copy as well, somewhere around 8.5 |
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ironchimp
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Post by ironchimp on Aug 18, 2014 15:32:04 GMT -5
provenance of art at auction houses in Uk and USA is near non existent for good reason as they and switzerland will trade in works no-one else will touch. Here is a report from Museums Association of UK warning the UK government of the use of auction houses and art sales from private dealers in money laundering and drug smuggling. www.parliament.the-stationery-office.co.uk/pa/cm199900/cmselect/cmcumeds/371/0032305.htmor a far more easy to read article here www.usatoday.com/story/money/columnist/wolff/2013/11/17/is-art-a-criminal-enterprise/3575107/It's been a very common practise for decades and still is, especially in countries where these cards are illegal, only allow 4 figures sums, or capital is far more closely monitored than in USA. Obviously its just one small component in the whole trade but like everything - it works as part of a diverse portfolio and definitely something Action #1 / Detective #27 could fall into. |
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shaxper
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Post by shaxper on Aug 18, 2014 19:32:30 GMT -5
Ran into my buddy today who sold his copy of Action #1 (the one I told you about months ago that went missing for 48 hours). CGC graded his book at 8.0 and he sold it to a private collector on the west coast.Same guy I sold my collection to. He told me Steve Geppi of Diamond Distrib. has copy as well, somewhere around 8.5 I remember when Steve Geppi put out the call that he was looking to obtain the highest graded copy of Action #1 around ten years back. Looks like 8.5 isn't cutting it anymore, Steve. |
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