Post by The Ultimate Nullifier on Jul 3, 2014 5:48:54 GMT -6
Todd McDevitt, owner of New Dimensions Comics in Ellwood City, Pennsylvania, says the market for high-end collectible comics has been close to recession-proof: “The 1 percent is still buying.” That’s why he’s comfortable asking $2,700 for a copy of Young Allies #1 and $2,300 for Daredevil #1. He also has a much cheaper issue of Daredevil #1, though, and he explains the factors that make the difference.
www.ellwoodcityledger.com/news/local_news/high-end-comic-book-market-going-strong-for-local-dealer/article_2a02a19a-4ce1-5593-b4c3-f463fb874088.html
ELLWOOD CITY -- The copy of "Young Allies" is typical of the World War II era -- it depicts Bucky, Captain America's boy sidekick, taking out both Red Skull and Adolf Hitler with a single punch.
And that's not even the most spectacular thing on the cover of the copy of "Young Allies" No. 1 at New Dimensions comic book store in Ellwood City. The issue originally retailed for 10 cents, but good luck getting it for that price today. The price tag on front of this copy is $2,700.
That's $2,700, the price of a decent used car.
Todd McDevitt, owner of the New Dimensions chain, is in the business of selling comic books, so he wouldn't have slapped a $2,700 sticker on "Young Allies" if he didn't think someone would pay that price, although he admitted that the market for high-end collectible comics sometimes has little to do with the actual value of those issues.
"If the right guy does well in the stock market this week, or if a certain plastic surgeon has a good week," McDevitt said.
McDevitt, an Ellwood City native and former borough councilman, started New Dimensions on Lawrence Avenue in Ellwood City and expanded it to four other locations in the Ellwood City area. He said high-end comic book sales have been the element least affected by the economic downturn.
"The 1 percent is still buying," he said.
And because the 1 percent is in the comic book market, the prices for rare comic books are increasing, McDevitt said.
Admittedly, McDevitt is in the business of selling comic books, so he has in interest in promoting the notion that the value of his wares is increasing. However, Nostomania -- a comic book collectors' blog regularly cited by newspapers and other news outlets -- has a list of the 100 most valuable comic books.
Of the top 100, 88 of them have increased in value over the past two years.
So, when McDevitt says, "I don't like to say no to an opportunity," to buy potentially collectible comic books, he's not kidding.
After more than two decades in the business, he's developed a wide range of contacts in the comic book industry, among publishers, buyers and sellers. Last month, one of those associates tipped him off to a collection going on sale in Las Vegas. He came away from that trip with another collectible -- "Daredevil" No. 1.
Daredevil, the secret identity of Matt Murdock, an attorney injured in an accident that left him without sight but made his remaining senses heightened, made his debut in the mid-1960s. McDevitt said the copy he obtained in Las Vegas is in excellent condition, with little discoloration.
He's asking $2,300 for it.
But neither of those books are anywhere the most valuable in McDevitt's personal stash. Seven years ago, he obtained a copy of Detective Comics No. 27, the issue that marked the debut of Batman.
Detective Comics No. 27 is generally regarded as the second-most valuable comic -- trailing only Action Comics No. 1, the first appearance of Superman. McDevitt declined to put a price tag on that one and said he's not planning to sell it anytime soon.
"It's the last thing I'm planning to sell," he said.
In near-mint condition, Nostomania estimates the value of Detective Comics No. 27 at about $2.2 million.
However, it doesn't take much to drive the value of a comic book out of the near-mint category and decrease the value. As an example, McDevitt provides another copy of "Daredevil" No. 1. At an initial glance, the two are almost indistinguishable, except for the price tag -- McDevitt will sell the second one for $300.
If anything, the cheaper one appears to have held the white color of its cover a little better. But upon closer examination, the $300 copy appears to have some water damage. The color of Daredevil's torso has worn away in a couple of places.
The $2,300 issue has a smooth cover, almost as if it has been kept in a safe for the last half-century.
While McDevitt admits that the $300 issue might sell a little faster than the more expensive version, he's confident he'll find a buyer for it. He's also confident the value of high-end comics will continue to increase.
"It's the classic supply and demand problem," he said. "The demand for rare issues is increasing faster than new ones are being discovered in attics."
www.ellwoodcityledger.com/news/local_news/high-end-comic-book-market-going-strong-for-local-dealer/article_2a02a19a-4ce1-5593-b4c3-f463fb874088.html
ELLWOOD CITY -- The copy of "Young Allies" is typical of the World War II era -- it depicts Bucky, Captain America's boy sidekick, taking out both Red Skull and Adolf Hitler with a single punch.
And that's not even the most spectacular thing on the cover of the copy of "Young Allies" No. 1 at New Dimensions comic book store in Ellwood City. The issue originally retailed for 10 cents, but good luck getting it for that price today. The price tag on front of this copy is $2,700.
That's $2,700, the price of a decent used car.
Todd McDevitt, owner of the New Dimensions chain, is in the business of selling comic books, so he wouldn't have slapped a $2,700 sticker on "Young Allies" if he didn't think someone would pay that price, although he admitted that the market for high-end collectible comics sometimes has little to do with the actual value of those issues.
"If the right guy does well in the stock market this week, or if a certain plastic surgeon has a good week," McDevitt said.
McDevitt, an Ellwood City native and former borough councilman, started New Dimensions on Lawrence Avenue in Ellwood City and expanded it to four other locations in the Ellwood City area. He said high-end comic book sales have been the element least affected by the economic downturn.
"The 1 percent is still buying," he said.
And because the 1 percent is in the comic book market, the prices for rare comic books are increasing, McDevitt said.
Admittedly, McDevitt is in the business of selling comic books, so he has in interest in promoting the notion that the value of his wares is increasing. However, Nostomania -- a comic book collectors' blog regularly cited by newspapers and other news outlets -- has a list of the 100 most valuable comic books.
Of the top 100, 88 of them have increased in value over the past two years.
So, when McDevitt says, "I don't like to say no to an opportunity," to buy potentially collectible comic books, he's not kidding.
After more than two decades in the business, he's developed a wide range of contacts in the comic book industry, among publishers, buyers and sellers. Last month, one of those associates tipped him off to a collection going on sale in Las Vegas. He came away from that trip with another collectible -- "Daredevil" No. 1.
Daredevil, the secret identity of Matt Murdock, an attorney injured in an accident that left him without sight but made his remaining senses heightened, made his debut in the mid-1960s. McDevitt said the copy he obtained in Las Vegas is in excellent condition, with little discoloration.
He's asking $2,300 for it.
But neither of those books are anywhere the most valuable in McDevitt's personal stash. Seven years ago, he obtained a copy of Detective Comics No. 27, the issue that marked the debut of Batman.
Detective Comics No. 27 is generally regarded as the second-most valuable comic -- trailing only Action Comics No. 1, the first appearance of Superman. McDevitt declined to put a price tag on that one and said he's not planning to sell it anytime soon.
"It's the last thing I'm planning to sell," he said.
In near-mint condition, Nostomania estimates the value of Detective Comics No. 27 at about $2.2 million.
However, it doesn't take much to drive the value of a comic book out of the near-mint category and decrease the value. As an example, McDevitt provides another copy of "Daredevil" No. 1. At an initial glance, the two are almost indistinguishable, except for the price tag -- McDevitt will sell the second one for $300.
If anything, the cheaper one appears to have held the white color of its cover a little better. But upon closer examination, the $300 copy appears to have some water damage. The color of Daredevil's torso has worn away in a couple of places.
The $2,300 issue has a smooth cover, almost as if it has been kept in a safe for the last half-century.
While McDevitt admits that the $300 issue might sell a little faster than the more expensive version, he's confident he'll find a buyer for it. He's also confident the value of high-end comics will continue to increase.
"It's the classic supply and demand problem," he said. "The demand for rare issues is increasing faster than new ones are being discovered in attics."