Art Appreciation
March 21, 2012 7:32 AM Subscribe
I have a limited edition graphic novel by a well-known artist which is apparently very valuable suddenly. What next?
Only 1420 copies of the book in question have ever been printed. My copy, in mint condition, is one of an edition of 1000, and is numbered but not signed. As I randomly discovered yesterday, it is much sought-after by collectors right now, and is changing hands for a lot of money.
I'm quite a fan of the artist's work, as I told you all a little while ago, so I am unlikely to sell it. But yesterday it was festering on my bookshelf with all the other comics, and today it seems to be worth more than cars I have owned. This raises a few questions:
1. Help me to understand the economics of collectables. How does a modest paperback purchased for a few pounds increase its value a hundredfold in such a short time? What is the likelihood that it will hold its value or appreciate? Will bubble burst if the work is reprinted?
2. There is some variance in prices of the copies on the market. How can I find out what my copy is worth? (I am having trouble dealing with the concept that it is worth anything at all, so please bear with me here!) If I decided to sell it, how could I get the best price? Should I find a dealer, or put it on eBay?
3. Should I try to preserve it somehow? If so, must I give up hope of ever reading and enjoying it again?
Only 1420 copies of the book in question have ever been printed. My copy, in mint condition, is one of an edition of 1000, and is numbered but not signed. As I randomly discovered yesterday, it is much sought-after by collectors right now, and is changing hands for a lot of money.
I'm quite a fan of the artist's work, as I told you all a little while ago, so I am unlikely to sell it. But yesterday it was festering on my bookshelf with all the other comics, and today it seems to be worth more than cars I have owned. This raises a few questions:
1. Help me to understand the economics of collectables. How does a modest paperback purchased for a few pounds increase its value a hundredfold in such a short time? What is the likelihood that it will hold its value or appreciate? Will bubble burst if the work is reprinted?
2. There is some variance in prices of the copies on the market. How can I find out what my copy is worth? (I am having trouble dealing with the concept that it is worth anything at all, so please bear with me here!) If I decided to sell it, how could I get the best price? Should I find a dealer, or put it on eBay?
3. Should I try to preserve it somehow? If so, must I give up hope of ever reading and enjoying it again?
Do you have any reason to think sales are actually happening at those prices? Rare book prices online are governed by stupid robot software like Monsoon that posts random high prices. What you need to know is what a buyer of the book would actually pay for it.
posted by Nelson at 7:41 AM on March 21, 2012
posted by Nelson at 7:41 AM on March 21, 2012
1. It's likely that it will burst and burst quickly once the work is reprinted or made available electronically, legally or illegally. The price went up because more people want it than there are available copies.
2. Your copy is worth what someone will pay for it. No more, no less. I think that a knowledgeable dealer would be able to find the right price. A specialty auction might be a better idea than eBay.
3. For now, keep it dry and out of the light. Maybe a mylar bag would be helpful for a short term solution.
posted by inturnaround at 7:41 AM on March 21, 2012
2. Your copy is worth what someone will pay for it. No more, no less. I think that a knowledgeable dealer would be able to find the right price. A specialty auction might be a better idea than eBay.
3. For now, keep it dry and out of the light. Maybe a mylar bag would be helpful for a short term solution.
posted by inturnaround at 7:41 AM on March 21, 2012
Best answer: How can I find out what my copy is worth?
Your copy is worth what someone is willing to pay your for it. It might sound a little facile, but if Overstreet says your book is worth $1000 and no one is going to pay you more than $100, well, it's not worth $1000 regardless of the condition.
Should I find a dealer, or put it on eBay?
I wouldn't sell anything high-ticket on eBay anymore. There's an utter lack of oversight that made it a scammers paradise. Find a reliable professional and go through them. You can ask the staff at local comic shops to see if anyone knows someone.
Will bubble burst if the work is reprinted?
A bit, but not entirely. You're looking at two markets here: people who want to read the book, and people who want to collect the book. A re-print will knock out the former while not the latter. Again, that assumes that the book even has a market.
Should I try to preserve it somehow? If so, must I give up hope of ever reading and enjoying it again?
Bag and board it and keep it out of the light and humidity. There's all sorts of preservation and grading services online (like for coins) but, honestly, it's not worth it if the book is staying put in a safe place.
posted by griphus at 7:46 AM on March 21, 2012 [1 favorite]
Your copy is worth what someone is willing to pay your for it. It might sound a little facile, but if Overstreet says your book is worth $1000 and no one is going to pay you more than $100, well, it's not worth $1000 regardless of the condition.
Should I find a dealer, or put it on eBay?
I wouldn't sell anything high-ticket on eBay anymore. There's an utter lack of oversight that made it a scammers paradise. Find a reliable professional and go through them. You can ask the staff at local comic shops to see if anyone knows someone.
Will bubble burst if the work is reprinted?
A bit, but not entirely. You're looking at two markets here: people who want to read the book, and people who want to collect the book. A re-print will knock out the former while not the latter. Again, that assumes that the book even has a market.
Should I try to preserve it somehow? If so, must I give up hope of ever reading and enjoying it again?
Bag and board it and keep it out of the light and humidity. There's all sorts of preservation and grading services online (like for coins) but, honestly, it's not worth it if the book is staying put in a safe place.
posted by griphus at 7:46 AM on March 21, 2012 [1 favorite]
All of the above is true. The only measure that approaches accuracy would be completed items on eBay.
posted by tremspeed at 7:48 AM on March 21, 2012
posted by tremspeed at 7:48 AM on March 21, 2012
Best answer: I don't have a lot of time now, but quickly: Here is an interesting post about what I think is called "Dynamic Pricing" in regard to bookselling. Please don't consider online prices an accurate reflection of the Fair Market Value of a book.
posted by peagood at 8:06 AM on March 21, 2012
posted by peagood at 8:06 AM on March 21, 2012
Response by poster: Thanks for the answers so far. I can believe that the book is collectable, but I am not surprised to find that the pricing is unreliable. Interesting to read about how that can happen. Now curious to find out more about a fair market price, as there's nothing on eBay.
posted by Elizabeth the Thirteenth at 9:37 AM on March 21, 2012
posted by Elizabeth the Thirteenth at 9:37 AM on March 21, 2012
History on collecting comics and information on comic book grading and valuation, including Overstreet Comic Book Price Guide and Certified Guarantee Company or Comics Guarantee. The former is a grading and price list, the latter is an independent comics grading company, who authenticate, grade and seal comic books.
posted by filthy light thief at 10:04 AM on March 21, 2012
posted by filthy light thief at 10:04 AM on March 21, 2012
Much of the value of something like this is about rarity. If only a certain number of a work was made, it means it's not just constantly being punched out of some cookie cutter in a factory somewhere. If 1420 copies of your book were made, that's it. There are only 1420 of them in the world. They're already exceptional. As copies get lost to time, the actual number of available copies decreases, which drives up value even more. What pushes the value up from there is condition. As a general rule, the better the condition, the higher the value.
Your book should also maintain its value as long as you keep it in good condition. If this is the 1st edition of this particular comic book, it will always be the 1st edition. The printing of a 2nd edition won't detract from the value of the 1st. This is why older editions of books typically go for higher prices than newer copies.
If you want an accurate assessment of your book's value, look for a reputable appraiser. There are actually several appraisers that work in the field of comic books. The appraiser doesn't even have to be local. You can search on the internet, and now many appraisers do their work long-distance. This might be a good place to start. I, too, would avoid Ebay.
If you do want to keep your book in good shape, there are several nice acid-free items you can find to preserve your copy. Light Impressions carries these. So does University Products.
posted by chatelaine at 10:46 AM on March 21, 2012
Your book should also maintain its value as long as you keep it in good condition. If this is the 1st edition of this particular comic book, it will always be the 1st edition. The printing of a 2nd edition won't detract from the value of the 1st. This is why older editions of books typically go for higher prices than newer copies.
If you want an accurate assessment of your book's value, look for a reputable appraiser. There are actually several appraisers that work in the field of comic books. The appraiser doesn't even have to be local. You can search on the internet, and now many appraisers do their work long-distance. This might be a good place to start. I, too, would avoid Ebay.
If you do want to keep your book in good shape, there are several nice acid-free items you can find to preserve your copy. Light Impressions carries these. So does University Products.
posted by chatelaine at 10:46 AM on March 21, 2012
The website says the first edition was 300 copies, so I'm guessing your edition is 2nd, which may not go for as high a price, and may lose more value if a 3rd edition is printed. First editions are much more sought after as collectibles.
It looks like a lot of the demand is due to the author becoming a well known artist and ceramicist. So a comic book expert might not be the best person to go to here. An art or rare book dealer might be more the way to go.
posted by rikschell at 12:57 PM on March 21, 2012
It looks like a lot of the demand is due to the author becoming a well known artist and ceramicist. So a comic book expert might not be the best person to go to here. An art or rare book dealer might be more the way to go.
posted by rikschell at 12:57 PM on March 21, 2012
Response by poster: rikschell: yes, that's the case. It is indeed one of the second run, which also included a batch of 120 large format signed copies. I would imagine the coffee-table version will be as valuable as the first run by now, if not more so. So of the three versions out there, mine is no doubt the least desirable.
I agree with you that art dealers and rare books are the way to go. The only genuine seller I've identified so far is a gallery in NYC, who have a first edition priced at $650, and I have come across a reference to the second going for £120 two years ago. These prices seem altogether more reasonable than the numbers on bookfinder, probably closer to what a serious art lover would pay for a comic book.
I have already slipped the book into a plastic folder and will definitely take steps to maintain its condition. I'm honestly none the wiser as to what it might be worth in the long run, but at least it has scarcity value until the next edition.
In the meantime, any more thoughts on the subject of rare books and comics are greatly appreciated!
posted by Elizabeth the Thirteenth at 2:10 PM on March 21, 2012
I agree with you that art dealers and rare books are the way to go. The only genuine seller I've identified so far is a gallery in NYC, who have a first edition priced at $650, and I have come across a reference to the second going for £120 two years ago. These prices seem altogether more reasonable than the numbers on bookfinder, probably closer to what a serious art lover would pay for a comic book.
I have already slipped the book into a plastic folder and will definitely take steps to maintain its condition. I'm honestly none the wiser as to what it might be worth in the long run, but at least it has scarcity value until the next edition.
In the meantime, any more thoughts on the subject of rare books and comics are greatly appreciated!
posted by Elizabeth the Thirteenth at 2:10 PM on March 21, 2012
Comics are generally a horrible investment device, just ask anyone who bought anything in the 1990s in hope that it would significantly appreciate in value. This case is a bit different, as it's a genuinely limited run, indie press, etc. However, even considering that, and unless you foresee ever being really hard-up for the money it's potentially worth, I would just (carefully!) enjoy my comic book instead of locking it in a tower to make sure it's mint forever.
posted by griphus at 2:16 PM on March 21, 2012
posted by griphus at 2:16 PM on March 21, 2012
If you have a big collection, photograph and document it, and get it insured. You love owning this, and would be devastated if it were stolen or damaged. In fact, you might consider a fire-retardant lockbox, or even a safe in a good location (I lost 1/3 of my books to a flood. I still miss so many of them.)
posted by theora55 at 7:49 PM on March 21, 2012
posted by theora55 at 7:49 PM on March 21, 2012
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posted by Mchelly at 7:39 AM on March 21, 2012