3 Tips to Save Comic Book Collectors and Investors Money

Times are tough. Everything is more expensive. Dollars have to be stretched. Every little trick that can be used to save money is vital. Over the decades many comic book businessmen have shared insights and tricks they picked up to assist me in saving money. Their view was the more people participated in the hobby the healthier the industry would become. Most of the tips people know, but there are a few that even the most knowledgeable do not implement. Here are some I bet many people reading this column do not use.

Tis the Season

Motor City Comic Con is November 8-10. It is a great way to spend time with family and friends. This convention is a business opportunity for others. I will once again be providing coverage for GoCollect readers who cannot attend. The view most people share is that these conventions are costly and that they can purchase book on eBay much cheaper. Those in the know are glad that many people share this belief and miss out on these events.

Rare Finds not Important

The news and observations coming out of the show can be a predictor of where the market is going. This information allows collectors and investors to take advantage of emerging opportunities. Many of the vendors do not want to deal with the hassle of selling online to unknown buyers. These type of vagabond professionals are the ones who find unique items through their travels. The first crack at these books is through shows like MC3. Those books that slip through buyer cracks get sold online. That thought is not the main reason to go to conventions. There is a greater reason many fans miss.

Knowledge

GoCollect reports sales prices and the number of books sold. That data collected is also used to configure an FMV for those issues. There is so much more that hobbyists can find out from their observations at shows that can make that data all the more important. GoCollect is there to get that information. Attending shows costs more than the booth price. Travel costs, internet hook ups, meal and accounting fees for selling in multiple states is part of the expense of doing business. This means the price that each square foot of space at the show is valuable. The professionals who attend these shows know this. Then why do most hobbyists miss the clues they are sending out on what is hot?

What to See

Review what books are out on vendor's walls. These are the best of their offerings and those that they believe will be in play. This should be done at the attendee's earliest convenience. This will allow books that the person wants to purchase to be identified. This is a no-brainer. The thing most people fail to see is what books are gone at the end of the day or weekend. Many attendees will see 30 copies of Amazing Spider-Man #361 up for sale and at the end of the show they are still there. That means there is very little demand compared to the supply. Books that are in demand will disappear. Identify those on a micro level to the issues people are purchasing. Then see on a macro level if there is a larger buying pattern like Bronze Age DC and Marvel horror or Avengers #1-30 on the move. One buyer can be on a run but more than likely it is a pattern that emerges that identify "hot" books before others catch on.

Practice at Play

Agatha All Along may be introducing more characters for a future Avengers film, but that does not mean buyers care. Rumors have been rampant before the series was released about who was the Teen. Demand though is not there for Young Avengers #1 and Vision and Scarlet Witch #12. Agatha's first appearance in Fantastic Four #94 also languished on the walls. These books were once highlighted on boards with central casting, and yet now they appear on the side of walls. They appear but rarely make any sales unless priced well below FMV. Ultimate Fallout #4 is another book that now appears at shows on side walls but rarely moves. In contrast, early Batman that do not cost more than $500 are always disappearing from shows.

Target Acquired

Collectors say they target only what they like. The same can be true with vendors and LCS. Many hobbyists do not realize it but local comic book stores and comic con vendors have individual specialties that they cater. They focus their inventory on what sells because each square foot has to generate income. This is also true with conventions. At Motor City Comic Con many of these vendors know each other and trade inventory to each other that targets their individual clientele. Sadly many attendees miss this detail. That is again a major losses opportunity.

Sticks out like a sore thumb

Many conventions walls or local comic book displays have a book that stands out as not being like the other. If it is an iconic key this book may exist only to draw interest. These books were never meant to be sold. There are other books that are not as important that do not belong. Dealers may have very little interest in these books. Same can be said for their clients. Many were accumulated because they were part of a collection. Books like these may not have been the target or the acquisition or are last of it. Remnants are drags on a cash flow.

Dealers are not collectors

Dealers are business people and not hobbyists. Books to them mean mortgage payments, food, and gasoline. They are willing to sell books for the right price. A book that is not moving is a problem. Even if it is a major key that one day could generate $1000, the fact that it is just sitting there may prevent a dealer from acquiring a collection that could net ten times that amount during the same time span. That is a problem.

Ugly duckling

One man's trash is another person's treasure. Comic books like these offer an opportunity to score deals. Many times dealers will move books like this to free up cash. Comic books that fall in this category are for the most part not marked down. The reason is because a dealer does not want to bargain against their own position. The key is to identify a book that is languishing on the wall or sticks out as not being part of the dealer's focus. That is the book to make a deal on, but do not insult the dealer or any goodwill the buyer had will be lost.

Do not fall for slight of hand

Many times local comic book stores and dealers at conventions will have bargain books. These again are books marked down to draw in people. Discounted books are ones that the dealer wants to cut bait and get out quick. This is a misdirection to make consumers believe that this is the only place where deals can be found. The key is to find books that are a step above these issues where the dealer can still make some money but the books are more desirable to the buyer. Dealers will be happy if you buy discounted books but keep your head and look for the true value on sale.

Used car salesmen

Anyone in the collecting hobby has heard the tale of the million dollar car found in the widow's barn or the Golden Age comic collection found at an estate sale. Those encounters are few and far between. In my professional life I handle estates, sometimes in the millions of dollars. Even with smaller estates the trustee, executor or personal representative has a fiduciary duty to maximize the estate or maintain the trust for the interested parties. Do readers think that the majority of estate sales companies do not have access to GoCollect and are willing to sell valuable items at discounted prices?

Go to the head of the class

Estate sale companies have people line up for sales because they want to respect the family. Many see the sale but forget that these items were once the property of someone's loved one. What many hobbyists do not realize is that there was in fact a presale that many were not even aware. This author has had dealings with many estate sale companies. Some of these companies will send out a notice of what items may intrigue my clients who are collectible buyers or myself so that we can arrive early for a presale. Other times items will in fact be sold before the sale even is listed. The estate sale has a duty to protect the client and these type of sales allows for this type of protection.

Relationships matter

Estate sale companies realize that higher end items may not be well protected when they are conducting sales. Even the best of security has holes. Other times people may try to pay with checks or credit cards that may be from less than savory people. This attorney has dealt with some companies that have had to come back hat in hand explaining that a valuable item was stolen or damaged at an event. They then have to make the person whole or face a possible lawsuit, or worse. An estate sale company can be blackballed in the legal community for poor handling of an estate. Reputations matter and what could have taken years to build can be destroyed in a day from one bad sale in this small world.

Paying for the ride

Opportunities do not happen every day. Sometimes one can wait their entire career and never find that hidden treasure. Chances and opportunities may cost a premium. This article is about saving money but sometimes one has to spend to save. Many times premium books are not discounted. The chance though to purchase a rare or key book will ultimately be cheaper because transactions like these mean saving additional expenses and time searching for them. Deals can be a result but remember - relationships matter, so sometimes what is saved is not money but time. In the end time is money.

FOMO

Fear of missing out. FOMO. Among collectors and investors it is one of the hardest things to avoid. A slick seller can use it and even create it for their own advantage. Everyone wants to score a deal or at least benefit from another's good fortune. Unscrupulous dealers know this and try to manipulate scenarios to their benefit. The Following situation is one that occurred in the recent past. Names and locations are removed but the fact of the sale is true. It involves a situation that many see but this time the players got caught by someone who revealed the scheme.

Where everyone knows your name

During the course of my travels this author has come across many honorable dealers, but sadly he has also encountered dishonorable ones. Sometimes during the course of an interview honorable vendors warn this author of bad actors because they want to protect the hobby. In one case an individual said a vendor was advertising books they "found" by being the first one in line at a small estate sale. What a major score everyone thought. People were trying to get in on these new found treasures and were willing to pay top dollar for these books. They wanted to be part of the story and feel they also benefited from the find. The problem was the story did not line up with facts. The collectible community is a small world. In small areas people are known. Stories can be checked.

Dragnet: Only the names have been changed to protect the innocent

As an attorney I am advising myself not to reveal the participants in this act. As a journalist I can verify some of the facts but all of them. The problem is that the truth does not rise to the level it was portrayed by the vendor. This is the gray area that can lead to litigation and thus no names were provided. It is also a reason that when this author comes across "barnyard" and "estate sale" finds he does his homework to verify them for the readers. Trust matters.

Questions are Free

Many times at conventions a variety of vendors come together. Get to know them and ask questions about the reputation of others. The same applies to local comic book stores. Buyers may be surprised at the honesty of these individuals. Their honesty could lead you to hidden gems and expose the reputation of others that could save money.

Photo Credit Heather Hamilton

A Man Named John

Many years ago collectors and shop owners educated this author on the hobby. The belief was through learning the ins and outs a person would be more vested in the hobby. Motor City Comic Con was where this author cut his teeth. Meeting industry legends was nice, but the relationships with old vendors was just as important. A lot of people reading this will not remember him but a man I believe was named John Proctor had a booth at early Motor City Comic Cons. He would spend his days talking comics and offering fair deals on his books. He told me that the hobby could only exist if lessons were passed on and he was doing his part. This meant a lot to a very young teen driving to his first convention.

Got GoCollect Readers Covered

A vast majority will not be able to attend Motor City Comic Con. If you can attend look for this author and ask him any questions you may have. For those who cannot attend please use some of the tricks mentioned here at another convention or comic book shop near you. The information can help you score a better deal than normal. Knowledge is power and power can change the negation advantage in your favor. We will be providing updates on what is happening as part of GoCollect's dedication to educate our readers to help them find deals.

Debt of Thanks Part 1

Many of the people who guided this author on the ins and outs of the industry have since retired or left us. Who knows, maybe some of the people reading this purchased books from Mr. Proctor's Comic's Buyers Guide advertisement. For years I wanted to thank John on what he told me and how he was correct about his observations that the hobby could only continue if people shared what they knew. Sadly the only thing I can do now is pass along the knowledge he and others provided me to honor their memory. This hobby is great but only by sharing can we keep it going.

A New Group

I also want to thank the team that assists me in covering events and visiting local comic book stores. GoCollect has built up coverage and reporting and this has made us recognizable. That is a problem when we want to make covert reports or conduct investigations. Rarely do they get mentioned or recognized but their contributions matter. Their hard work has made the coverage all the better and for that they have my thanks and gratitude. I also want to thank the vendors and celebrities for their time. Nothing is more valuable than time because no matter how much money one has that is one commodity that cannot be purchased. Now.....LETS GET READY TO RUMBLE!!!!!