Hake's auction ending on July 26th has an exceptionally rare copy of Amazing Spider-Man #3 up for bids. Not only does this high-grade copy include the first appearance of Doctor Octopus, but the copy also comes from one of the famous comic collections in North America: the Winnipeg Collection. Let's take a closer look at this issue and the Winnipeg Collection in general.

Pedigree collections must meet four requirements imposed by CGC.

Some of the most valuable comics graded by CGC are marked with a gold label and known as a "pedigree." Pedigree refers to comics graded by CGC that came from a famous and exceptional collection. In order for CGC to designate a collection as a pedigree, the collection must meet the following four requirements:

  • The collection must have belonged to the original owner. In other words, a collector cannot today buy a high-grade run from the Golden and Silver Age comics from previous owners and receive a "pedigree" status;
  • The collection must be of vintage material. In other words, the collection must primarily consist of comics from the Golden and Silver Ages (roughly up until 1966 unless those comics are in exceptional condition);
  • The collection must generally consist of a considerable number of comics (i.e., at least 1,000 books); and
  • The collection must be high-grade (e.g., Silver Age books must be 9.2. or higher).

CGC currently recognizes 61 pedigree collections that meet the four requirements described above. The copy of Amazing Spider-Man #3 that Hake's has up for auction came from the Winnipeg pedigree collection.

Two Canadians living in Winnipeg, Joe Krolic and Dennis Kjolso created this collection of comics starting in the early 1960s through 1996. Krolic and Kjolso had assembled full runs of many Marvel titles. Kjolso had written his name, "Dennis Kjolso," at the top of each cover of many of the issues that were published prior to 1966.

Will the Winnipeg Amazing Spider-Man #3 Sell for Over $20,000?

You can see Dennis Kjolso's name written near the top of the cover of this copy of Amazing Spider-Man #3 at Hake's.

It's difficult to predict how much this copy will sell for, since this book is truly unique. Owning a standard 8.5 puts you in good company; according to the CGC Census, an 8.5 is in the top 5.9% of CGC-graded copies of this issue.

As a reference point, the most recent sale of a CGC 8.5 copy of Amazing Spider-Man #3 occurred on June 25th. It sold for a hefty $14,400, an all-time high for this grade, during an auction hosted by Heritage. Interestingly, this issue is bucking the trend of the general comic book market.

Most comic book values are currently at two-year lows post comic boom so it's interesting to see this issue reach an all-time high just last month. Perhaps it's a leading indicator that the comic book market will follow the bull market? I made this prediction in a blog I wrote earlier this month.

As of July 16, the current bid for the Winnipeg copy on Hake's is only $8,800. Considering that a blue label 8.5 sold for $14,400 just last month, it might be reasonable to think the Winnipeg copy should just go for much higher. Could it reach $20,000? Perhaps, but at the same time, the $14,400 sale was an all-time high and also an outlier. I'll be watching this sale closely to see if it serves as a barometer for the broader comic book market.

Take a look at all the items up for bids in this auction! There are some really great finds.

How much do you think the Winnipeg Amazing Spider-Man #3 will sell for? Let us know in the comments section below!

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