After a brief slump, the Batman Who Laughs is on the rebound thanks to his latest self-titled series, and Teen Titans #12 is leading the pack with some impressive figures.
When DC's epic crossover Dark Nights was in full gear, the Batman Who Laughs was stealing the spotlight. Sure, he wasn't anything we hadn't seen before (after all, he is simply a combination of Batman and the Joker), but he was irresistible. What's not to like? He's as smart as Batman and as ruthless as the Joker, plus he's a visually dynamic character, even if his mask makes no sense (how does he see out of that thing?) and his costume is a blatant Hellraiser ripoff.
THE FIRST FULL APPEARANCE
At first, BWL was all the rage, and his keys were booming.
In March, a 9.8 Teen Titans #12 (as new as this comic is, they should all be 9.8s) brought as much as $441, and it was averaging in the $350 range. Then fans seemingly had their fill, and gradually the prices began to fall. After reaching that record high, it dropped to the $250-$300 range a month later. By August, it had dipped into the $150-$200 territory.
Then things began turning around after DC revealed plans to give BWL a new series. Since then prices have been steadily on the rise. In late October, prices cracked $200. A month later, the 9.8 had again reached $300.
With the popularity of this new series, collectors realize that DC will keep BWL in the mix, and that's kept the TT #12 values pushing upward. Since November 27, only one 9.8 has sold below $300, and three of the four most recent sales have been at or above $350. The latest sale was on December 19 for $359, which gives the notion that it could once again break $400 before winter is over.
THE VARIANT
Although it's not at the same level as the standard cover, the Teen Titans #12 variant edition is getting back to that spring pace as well.
From January to the beginning of April, a 9.8 was averaging close to $250. Suddenly, prices fell below $200, and from mid-April to December, it stayed below that $200 mark. But hope springs eternal, and this issue is hot once again after selling for $225 on December 15. We shall see if those prices stay in that range.
THE ORIGIN
Not all BWL keys are experiencing this renaissance in fair market value. His first solo comic, Dark Nights: Batman Who Laughs, hasn't gotten the rub from TT #12 and the new series, but it is showing signs of life.
A year ago, this was an immensely popular issue. As part of Dark Nights, DC published one-shot origin issues for these new Batman-combination characters. Not surprisingly, the BWL one-shot sold out across the country. This time last year, a graded 9.8 was commanding prices of $100 and up, peaking at $150. That carried over into 2018, but prices soon dropped under three figures, and it's stayed that way for the most part.
While it's hovered in the $60-$70 average for the past 90 days, two of the past three sales have been for $80 or more. With so many 9.8s available, I doubt this will breach the $100 mark again, but it could easily push back into the $90 range.
THE FIRST CAMEO APPEARANCE
Finally, we have Dark Nights: Metal #2, which was the first cameo appearance of BWL. The purists will argue that this issue should be considered the true debut of BWL, and that is understandable, but it simply does not hold the market clout as Teen Titans #12. Over the past 12 months, nearly every variant and every grade has been losing value, and it hasn't improved in the 90-day FMV. The last time a standard edition 9.8 sold was in September, and it was for just $24, which is not even worth the CGC or CBCS grading fees.
