How Do I Price Foreign Comics?

How do I price foreign comics? This is by far the question I get more than anything else from collectors, and there is no easy answer to it. Trying to understand the pricing process for foreign comics is a skillset all by itself, and also one of the areas that requires the most trust when you first start out. In that regard, I want to be as open and transparent as possible about not just my pricing practices, but others I have come across as well in the world of foreign comics.

The Factors Behind Pricing Foreign Comics

There are many potential factors to consider when you are trying to price a foreign comic, and they won't always be the same. Condition and rarity are at the top of the list of course, but there's also previous sales data, other copies currently available, demand, personal opinions, and more.

This is definitely one area of foreign comics that will require some work, and this is not a skill set you can develop overnight, or even in a few weeks or months; its going to take time, experience and patience.

The Lack of Standard Data Points

All the regular data points you may be used to having access to with American comics rarely exist with foreign comics. Usually what we have are a few sales and a very low census count for reference, if we are lucky. We almost never know print runs, distribution areas, unsold/return data, or much else about these amazing comics.

This means that different people in the foreign comic world use different methods of pricing. Some strictly go by what the comic cost them, and then they apply whatever profit percentage they use. Some will use a sliding scale on publication dates, paying more and charging more for foreign comics closer to the American dates and less for ones published later on. Some will pay premiums and charge premiums for certain countries and less for others. Some will use different combinations of those along with their own personal preferences. There are a lot of different ways that are used around the world.

The Three Markets of Foreign Comics

There are also 3 different markets with different prices within foreign comics, although these differences in prices are coming closer together as the community grows and more and more people learn about them and their rarity and value.

1. Local Markets

First you have the local market in other countries, with the best prices usually being found within each comic's own country of origin. This market is not accessible to most collectors however, as it requires traveling to those countries to get those prices.

2. Middle-Man Markets

Second you have the middle man, or go-between market, with people in those countries finding the comics themselves or through their own sources and then selling them to their buyers in other countries. This market becomes more accessible the longer you are in foreign comics, as you will meet many amazing members of the community over time in other countries who will help you get those comics for your collections.

3. American Markets

Third you have the American, or "retail" market. This is where the vast majority of sales data is taken from auction and sales sites and used for pricing. Just about all of us start in the American market when we discover foreign comics. There are a lucky few who already travel or have connections in other countries when they start and they are able to go to those other markets quickly, but for most of us it is going to take some time and patience to move to the other markets.

Pros and Cons of Each Market

Each market has it's own pros and cons and it's important to know what those are when you're making decisions on what to buy.

American Market Advantages

The American market's main advantages are quick and easy access to foreign comics, no customs, no high shipping risks or long delays, no "legwork" really required. The downside is that it is usually the most expensive of the 3 markets, so just like anything else, you are paying for that convenience and for someone else to do all that work sourcing and getting them safely to the USA for you.

The advantage of having the comics here in the USA cannot be overstated with foreign comics. Many countries in both Central and South America regularly slash packages in customs in multiple places looking for drugs, they don't care about the condition of comic books, and so many collectors have received packages with multiple cuts through their comics that it is a very real and growing fear with their shipments. This happens in other countries too, you have to remember that customs aren't concerned with spine ticks and damaged corners, they are only looking for illegal things being shipped.

Shipping damage is a very real risk factor and one of the main reasons for the premiums in the American market, as many of the sellers have experienced these damages time and time again firsthand. Getting a foreign comic to the USA in it's original condition is not an easy task and can go wrong in many ways, and insurance is usually a joke from other countries unless you have your own private policy specifically covering these shipments.

Middle-Man Market Benefits

The middle man market is where most experienced foreign collectors wind up after making some connections of their own, and this market can provide some nice discounts to the American market. That gap has been shrinking the last year or two however as other countries see high sales here for their comics, making them less inclined to sell those comics for nice discounts and wanting top dollar themselves. Some countries are even developing a dislike for selling their comics to people outside of their home countries now. The downside with this market is you're now taking on all those shipping and customs risks yourself to get those discounts.

Local Markets for Treasure Hunters

The local markets are where some real treasures can be found. While occasional gold will pop up on auction sites and claim sales for a huge discount, in my opinion the local second hand markets are where the next decade of sourcing will largely take place. Comic shops and mainstream resellers in other countries are mostly all aware of the market on these comics now, and their prices are reflecting that. Used bookstores, pawn shops, flea markets, and other similar areas are where you are really going to want to hunt.

The downside to the local markets is the accessibility and cost. Making a trip just to look for comics means you need to save thousands to offset the cost of the trip just to break even.

There is also a very interesting and compelling theory on foreign comics in local markets from one of the original trailblazers in foreign comics, Matthew Roybal. Matthew is one of the pioneers of bringing these treasures to the American market and has been doing so since 2011. You can find him on Instagram @define999. I asked him to write out his theory for this article and he was kind enough to do so, which I've added here:

Matthew Roybal's Insight: The Indigenous Bias Theory

"A very important aspect to consider in foreign edition comic collecting is that for many non-American collectors, they seemed to have a pretty heavy preference for the American editions instead of their own indigenous language versions. Unfortunately, I have found that this bias for the American books over the local indigenous edition is somewhat prevalent all over the world.

Just one example, while hunting for a Portuguese edition of Spawn 1, I spoke with a Portuguese collector/sourcer about why it seemed so difficult finding that particular book? He explained that for the most part, the Portuguese collectors at the time were not pursuing the local Portuguese book. They wanted the American edition, and he found it amazing he was able to find the Portuguese version for me at all! Personally, I believe this bias for American editions, only intensified with the creation of the Internet. Along with the bias already existing, the explosion of online venues for non-American collectors to purchase original American comics did not help the bias. It might even have made the local indigenous books even less desirable. It must be noted however that this view is just a generalization from some of my research and time sourcing books from all over the world. This bias definitely isn’t all-encompassing, there are plenty of exceptions.

So I am not saying all foreign collectors have a bias against their indigenous version. Many websites do exist celebrating the local published comics along with the American licensed material. I do think however it is safe to say that a decent portion of foreign collectors in many countries prefer the American original over the local, indigenous licensed version.

What results from this bias? It can be twofold: a lack of foreign edition books on the market for sale, whether it be from a foreign seller’s perspective that there isn’t a desire for these books, or simply that these foreign books didn’t survive at all. And, a much lower threshold for grade, as books that are not loved or preferred tend to not be nearly as cared for in the long run. These books tended to be thrown away, given to little brothers, or simply not bagged and boarded.

How ironic it is that things have seemed to come full circle. How interesting that American collectors are now seeking out these foreign editions with gusto. While at the same time, many collectors within the countries of their origin, cared much less about the local comics."

By Matthew Roybal

My thanks to Matthew for contributing that very solid theory!

Navigating the Foreign Comic Markets

Those are the 3 parts of the public foreign comic market. It can be easy to get confused and frustrated in foreign comics if you're comparing prices in one market to another market but not understanding the differences between those markets.

Then there is the private sales market as well. While this market also exists in American comics with some buyers preferring to remain anonymous and not showing off their acquisitions, there seems to be a lot more of them in foreign comics.

This means there are a lot of private sales on foreign comics, especially on bigger keys sometimes, and these don't get reported or announced anywhere. I have several buyers who prefer conducting business privately and they never announce or post anything they buy. They've spent a lot of money in the foreign comic community, but there's no public record of those sales.

You have to be careful anytime you are looking to buy a foreign comic and someone references a private sale for the price. It doesn't mean it didn't happen, it just means you need to make sure you trust who you are dealing with when you are taking valuations based on those sales. There are a lot of private sales that happen in the world of foreign comics, and they do set future values when they happen time and time again, but taking them at face value from someone you don't trust isn't a good idea. As always, ask around the foreign comic community, there are so many great people who will help you out with advice on purchases and values. None of us want to see someone overpay for a comic or get scammed.

Volatility in the Market

It is also important to understand how volatile the foreign comic market can be, since there are so many unknowns and far fewer sales to create consistent data points for these comics. Two different private sales can happen on the same comic in the same month and be a lot different, with no public knowledge of either one. A foreign key can sell for $400 one month, $600 the next month and then $200 the next month and all be valid and fair sales.

With the Wild West aspect of foreign comics, a lot can change very quickly. New keys being discovered can make other editions values change, and new information about scarcity or a sudden surge in interest can sometimes put a 2x, 3x or even more on a foreign comic almost overnight. Even world events can drive speculation and cause prices to soar.

The opposite is also true and you can see large drops on keys, sometimes only lasting a couple months, sometimes longer. This can happen as a reaction to prices going up on a comic or a new record sale happening. When everyone sees that sale and goes out looking and many of them can find one, suddenly there's 20 or 30 of them available on the market, causing a quick drop. Usually those don't last and are temporary, but they can lead to some big swings.

How To Ebb & Flow

This can be both fun and frustrating at the same time, allowing you to find some amazing deals from people who just don't know what they have and what it's worth. It can be a very rewarding part of participating in the early foreign market, giving you some big wins when you find them. It can also be frustrating if you just bought a nice key for $400 and see someone else find one two weeks later for $50 from someone who didn't know what it was worth. This still happens a lot because of how early it is in the market, but as awareness grows that will happen less and less. 2025 might be the last year we are able to find deals like that on a somewhat regular basis in the foreign comic market. Enjoy and celebrate those wins when you find them!

The most important thing to remember when considering any purchase is only buy what you are comfortable with. Don't let yourself be talked into buying something you don't want, or talked out of buying something you may want. There are a lot of different opinions in many areas of foreign comics and some of them are very strong and unyielding, but they are all equally just opinions. Collect what you love and if you are happy with what you bought or sold, at the end of the day that's all that matters!

Now that you have a basic idea of the markets, let's talk about some actual pricing!

Pricing Examples: How to Begin

Let's start at the top of the prices in foreign comics, which are currently right around $1,000 per point on a few graded keys. These are the Norway and Israeli Incredible Hulk #1 and the Mexico La Prensa X-Men #1. These have all consistently sold right around this price point for graded copies for over a year now across several public auctions. That is the current top of the market, but most of us don't expect it to stay that way. Many other comics have sold for over $1,000 a point including some golden age, but haven't necessarily showed repeated sales over time in that range to reinforce that price point.

The High-End Outliers

There are also sales of comics for far more, with a reported sale of the Lebanon Incredible Hulk #1 early this year for around $20,000. Sales of those ghosts are hard to base the rest of the market around however, as their sales are so infrequent and can vary quite a bit. Every ghost sale is going to be different.

The 3 graded keys that consistently sell for that $1,000 per point show a much clearer reference point with repeated sales across a period of time, and they happened at public auction houses so they are easy to find and reference. Most of us believe the top of the market can get closer to $5,000 per point, or even $10,000 per point or more on some of these big keys over time.

Forecasting Market Growth

Some of you will probably laugh at that, but just remember they used to say a comic book would never sell for $100,000, then $500,000, then a million dollars, and they all happened. Now people are saying a foreign comic will never sell for $100,000. Will history repeat itself? I believe it will.

Applying the Benchmarks to Price Other Comics

Either way, using the current top of the market is a good way to figure out prices for other comics. For instance, if I'm trying to price a graded South Africa Fantastic Four #1 but there's no recent sales data, where do I start? I start with a similar key, in this case the Incredible Hulk #1 and X-Men #1, both giving me a price point of $1,000 per point, which would be a fair starting point for the SA FF#1. Some might say it's worth more than that or a little less than that, and that is where the negotiations would start. It isn't a definitive hard price, but it's a great starting point.

A Practical Example: Italian Amazing Spider-Man #300

From there you can get a better idea of other prices by using the top of the market and working down based on whatever comic you are pricing. Let's use the Amazing Spider-Man 300 from Italy I talked about in my last article for an example of how to price a foreign comic.

Now we know the Italian ASM 300 isn't at the top of the market, unless you're finding one of the ghost 9.8's, but that's a different story. Just about every copy available is going to be a 9.0 or lower, so we can price it from there. Exceptionally high grades are always going to command premiums in foreign comics, but using a basic dollar value per point is a great way to price ones in normal grades.

So let's say we have a CGC 6.0 Italian ASM 300 and we want to know the price. We know it isn't at $1,000 per point, and we can look at some copies available on the market to help as well. There's usually a few ungraded ones readily available for $150-$300, and sometimes you can find deals below that. Is $100 a point fair on this? It's just not there yet. Around $70 per point in this market is currently a fair price for this graded comic, and that would give us a price of right around $400 on the 6.0, which would be a fair retail value in the current market to work with.

Then if you're trying to price a foreign comic smaller than the ASM 300, you can use that to work down from, giving you at least a working idea of some price ranges to operate in. Once you know the current top of the market, you can reasonably work out prices from there.

Exceptional Cases and Raw Comics

There are always going to be exceptions of course like a 9.8 of the Italian ASM 300 if CGC ever grades one, which would likely get a price of around $10,000 at this point or maybe even more. There's one CBCS 9.8 in existence and they have reportedly turned down offers of more than $5,000. Remember too that not all 300s are even close to equal, so that doesn't mean all 300's are going to be at that price per point either.

When you are pricing a raw comic, there are other factors to consider as well. Depending on the country, scarcity and history, a graded blue label can sell for a significant premium over the same raw comic, especially if that comic has a history of coming with color touch, restoration, or trimming. This is another reason it is important to ask around the community when making purchases, especially larger ones.

Final Thoughts: Collect What You Love

The important thing to remember when pricing foreign comics is to find a price you are comfortable with, both in buying and selling. Don't do anything at a price point that makes you uncomfortable, and always ask others in the community if you're not sure, or if you just want feedback on your prices.

We are all navigating this foreign comic book market together in its formative years as it grows and matures, and there are going to be a lot of bumps in the road, trial and error, and milestones achieved on the road to a fully mature foreign comic market.

There is also going to be a lot fun, amazing moments, big wins on ghost hunts, great stories, flea market finds, and the potential for some huge market gains. We don't call it the Wild West for nothing!

At the end of the day, you just want to be as informed as you can be about the current market, sales, supply lines, and the rest when you are pricing foreign comics. There is no price guide, and anything that came out would likely be almost immediately obsolete until the market reaches full maturity, which is still probably about 5 years or so in the future. Of course nothing is guaranteed, and you should always consult a professional before making any financial decisions, but those are my opinions.

You are always welcome to contact me with any questions you may have if you are considering buying or selling a foreign comic, Instagram @hotkeycomics is the quickest way or you can email me at [email protected]. You are also welcome to contact me if you travel to other countries and want to see if looking for comics while you're there can be profitable for you!

I hope this helps you get at least a little better understanding of how to price foreign comics and maybe it will help you keep your focus through some of the volatility over the next few years.

And with that I'll end the same way I ended my first article, with one simple question...

Have you started collecting foreign comics yet?