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The original was posted on /r/bestofredditorupdates by /u/AnF-18Bro on 2023-11-29 18:45:54.
Reminder: I am NOT OP. Original post is from /r/comicbookcollecting by twan55 (not linking to the OP directly as this may be considered sensitive).
Trigger warnings: Rash financial decisions
I feel like the world's biggest idiot; I paid TRIPLE for a Bronze Age grail, am out a ton of money and, as well, a ton of happiness, COMIC-BOOK-COLLECTING-WISE
Originally posted on September 8, 2023
I feel absolutely HORRIBLE. I have always wanted a House of Secrets # 92 in a CGC 9.2 or above- but I have very little money, work as a schoolteacher and have two kids. Yet, back in May I did the unthinkable: I went on eBay and did a "Buy it Now/Or Best Offer"-transaction for this book, offering the guy (who was selling it for 10 grand "OBO") $8,500- which I didn't think would even be accepted. Keep in mind, an HOS 92 in a CGC 9.0 went a few months ago for $6,100. I have/had been tracking the prices of this one particular book for FIVE YEARS and I can tell you that every 9.2 that comes up always is around 10 grand (meaning: that's the seller's starting point) and every 9.4 that comes up on there is/was about 15 grand- or at least, again, that's what the sellers were asking.
Anyway, my 9.2 offer was accepted- and I took the plunge, despite the fact that I do not have that kind of money. I put it on a zero-balance-until-18-months-from-now credit card and just began paying off the minimum (whilst attempting to hide the purchase from my wife, who would, well, let's just say NOT be happy and/or supportive of my purchase). I'm a schoolteacher with 2 young kids, we don't exactly have a ton of dough and, well, yeah...
Still, yes, admittedly it was a selfish purchase- one made just for me- yet one thing I thought I could cling onto was the fact that this is a Bronze Age grail we're talking about (first appearance of Swamp Thing by Berni Wrightson), so part of my own personal justification was that at least it would retain its value and be an "art-buy" hedge, investment-wise or, put another way: I THOUGHT (incorrectly, obviously) that this was a very "solid" buy, one that wouldn't move too much downward.
Um, WRONG.
Just last week I saw this go up for sale and watched- horrified- as the auction transpired and then ended. Check it out: (Editor: OP linked to an ebay sale that is no longer available)
A 9.4 ended up selling for $3,200 LESS than my 9.2, and the 9.4 is better looking and nicer than my 9.2 in every way. The 9.4 looks basically flawless, whereas my 9.2 is nice- sure- but it's a dicey 9.2; I actually feel like the seller was lucky to get that grade. Oh and lastly: my 9.2 was graded a few years ago- pre-QR code- meaning that I'll likely need to get it updated (reslabbed) for its own protection (I've heard CGC slabs them in a more thorough, longer-lasting, more-protective way these days than they did a few years ago). Indeed, I can see me sending it in to get reslabbed and CGC lowering the grade to a 9.0, which would be insult-to-injury/icing on the cake so to speak...
So to end this, let's do the math. If an HOS 92 in a CGC 9.4 goes on the open market for $5,300 then it's safe to say that my book would probably fetch HALF of that: so $2,600. I paid $8,500 for it- so in short you could buy a replica of my comic for 1/3rd the price I originally paid for mine. Oh- and if you think I'm being too harsh on the price and possibly setting my fictitious open market price too low then fine- let's add another grand on top of my original number and say that I could/would fetch $4,600 for my HOS 92/CGC 9.2; I doubt that's true but we'll go with that. But Hell even THEN I will have paid more than TWICE as much as I should have.
I am distraught. No longer does the book give me the joy it once did (when I first got it I would look at it on a regular basis and bask in the glow of knowing that I had joined the "5% club," meaning that only 5% of HOS 92s are graded by the CGC as 9.2 or better). Turns out I could've simply waited a few months and I'd be a member of the "2.5 club"- since only two-and-a-half-percent of all CGC graded HOS 92s are in 9.4 or better condition.
Instead, I am scrambling to pay for a severely underwater comic book, the likes of which will probably NEVER fetch me anywhere near what I paid for it. Oh and one final thought, just to show how weird/wacky/nuts/insane the market for that book just went: here is an HOS # 92 IN A CBCS "9.4"- AND THE SELLER IS ASKING 20 GRAND FOR IT!!! Now obviously he won't get that, but what will he get? Fifteen grand? Ten grand? FIVE GRAND?!?!?!?!?
Here's that one: (Editor: OP linked to an ebay sale that is no longer available)
So yeah, that's it- that's the story. I appreciate you guys sticking with me and this post as I'm sure this was a long and likely repetitive read. Also, please don't think I'm sitting here wallowing in self-pity; some people go to bed hungry each night and here I am, complaining about a high-end comic book purchase- so please, do at least know that I'm keeping this whole thing in perspective (at least somewhat lol).
But also know that I have NEVER made anywhere even near this big of a purchase on anything for myself-- and the one time I do, I get absolutely destroyed. Also, sadly, this whole sordid affair has quite frankly sapped the joy I was getting from my plucky little "9.2;" now, I look at that book and just sigh.
I am fully aware that as with any other investment, comic book prices rise and fall; I just never thought this relatively rare book (at least "rare" in high grade) would fall so hard and so fast. Lesson learned, I suppose...
Take care people- and again, I thanks for reading this.
*EDIT*** Guys, there's a major misunderstanding here. I HAVE the money to pay for the book outright, in full, tomorrow.
So why don't i just do that?
Because my wife controls the finances and absolutely despises it when I purchase comics- and we're talking when I buy inexpensive books. If/when I spend my usual $100-$200 on comics every couple of months she always says "It's a stupid waste of money." She hates that I collect; she thinks it's stupid.
Furthermore, this 7 grand purchase was of the sort I never, ever do; it's not as if I pull the trigger on a multi-thousand dollar key or grail on the regular. This was a one-off. Also, my credit is impeccable and i plan to pay off the debt by flippping from 0% interest credit card to 0% interest credit card for as long as possible- for as long as they're on offer.
If somehow that isn't an option, I'll simply pay the money and deal with the wife. But yeah; this incident isn't my modus operandi. It's an outlier, and I regret it- but my kids aren't going to bed hungry because of it. I'll get the money back by getting another job (like tutoring)- and put that $ towards the debt. Some of you are being really nasty in your responses, but that's what happens when a person (me) posts a fuck-up online: he/she gets scorn. I do wanna thank all of you who didn't act like i oughta be in jail and instead gave me constructive advice. I appreciate you people and your advice very much.
Follow up from that long, frantic, unhinged rant about overpaying for a House of Secrets 92 in a CGC 9.2...
Originally posted on Monday 2, 2023
Ok so here's the skinny: me- a teacher who isn't exactly rolling in dough- did something I have never done before or since: I paid just under $10,000 for a Holy Grail I have always wanted: a HOS 92 in a CGC 9.2.
In my original post I said I paid $7,500 for it and was freaking out because a week later a 9.4 of the same book sold for $5,300, making me feel terrible about my purchase. Also- full disclosure (as anyone who read that post/thread likely remembers): I kept the purchase from my wife, putting it on a 0% credit card (I happen to have excellent credit, mainly because I live within my means, pay all my bills on time and am just generally responsible in terms of money- with the exception- obviously- of this one purchase), a rate which I have until December of 2024.
Anyway, a number of mistakes were made, all of which I fully admit to. Here they are:
-I kept a HUGE purchase from my wife, because she hates that I collect comics, thinks the whole business is a giant, utter waste of money and is just totally against spending my/our (I don't think of it as "our" in this case but I get why she sees it that way) hard-earned money on what she sees as dangerously overvalued, essentially worthless frivolity. Obviously that's a story for another day but, um, yeah- in my desire to avoid a major fight I tried to sneak the purchase past her and planned to just keep on paying the minimum off until, again, I made some extra cash, at which time I would/will pay off the balance.
-I made a mistake on the comparison eBay sale, which turned out to be a scam. The HOS 92 in a CGC 9.4 was a fake sale.
-I also made a mistake on the amount I paid. In the OP I said that I paid $7,500. I didn't; I paid $8,500. I know, i know: "How could you 'forget' that you paid a thousand dollars more than you said you did?!?" Well, easy: I probably didn't want to admit to myself that I paid even more than I thought! Turns out $7,500...
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