Amazed and Frustrated

I must admit I am amazed and frustrated about something that I shouldn't be.  Before we go into that let me tell you a quick story.

When I was a boy I sat with my dad in a bank loan officer's office when he was "applying" for a car loan.  The conversation went something like this:

"So, Pete, how much did you need and what were you going to buy?"

"I need a loan for a car and I need $x,xxx financed to get the car."

"I'll have it done for you this afternoon.  I'll call you."

(papers are signed, they stand up and shake hands, my dad and I leave)

A HANDSHAKE GOT HIM A CAR LOAN.

Granted, this was a long time ago, and this wouldn't be possible today due to the amount of garbage people try to get away with today, but this set my moral and ethical compass.  When you shake hands your word is your bond.  When you shake hands you follow through.  When you give your word you keep it...no matter what.

When my son got into the buying, selling and appraising of comics with me I told him the golden rule in this business:  don't ever, for any reason, deliberately cheat someone out of money.  Ever.  It's the honest, ethical and moral way to run a business.  There is one exception.  If you are buying a comic, on the spur of the moment at a flea market, garage sale, etc., and you honestly don't know the value, paying the asking price is fair game.  An example is my wife buying an obscure comic I didn't recognize and asking me if $1 was a good price.  It was in good shape, had a name I didn't recognize, and I couldn't imagine it being worth anything, so I told her it looked good.  When we got it home we found the value to be $200 in the shape it was in.  I don't feel as though we cheated anyone.  That was a week ago.

Cut to yesterday.

My son and I went to a flea market in 80 degree heat to search out some good deals on comic books.  While making our rounds we came across a kind gentleman who was not selling comics, but was selling superhero action figures.

"Do you ever sell comic books?", I said.

"No.  I have boxes and boxes of them but I never bring them along?", he replied.

I introduced my son and I and gave him our card.

"We buy, sell and appraise comic books.  Is that something you would be interested in?", I said hoping for the best.

"Absolutely!  I'll give you a call and we can see what the value is of some of the comics I have.", he said.  He actually seemed genuinely excited!

"Can I ask you your opinion on something?"  he said hesitantly.

"Sure."

"I had the comic book with the first appearance of Ant-Man."

(As an aside, he is referring to Tales to Astonish #27)

He continued.

"I sold it the other day for $350, did I do the right thing?"

Now this is a question with no good answer for a couple of reasons.  First, I have no idea what condition the comic was in.  Second, this comic is of extreme value because it was the first appearance of a major character.  Third, it's old and rare and I don't know how many would be available at this point in collector condition.  I only knew what the approximate value was in Near Mint condition off the top of my head, but I couldn't bring myself to say it.

In Near Mint condition that comic is valued at $20,000.  Chances are it wasn't Near Mint just because the older the comic the less likely it is to be Near Mint because comics weren't necessarily coveted in those days and people didn't store them well.  Still, $20,000?  Ugh.  This guy is super nice, what do I say?

In my silence my son spoke.

"You made the buyer very happy.  You did the right thing for him."

The answer wasn't perfect, but it was the truth.  But do we share the value of the comic with him.  If he's reading this he knows (and I am really, really sorry).

What many will say is that the comic could have been in extremely poor condition, maybe even falling apart, and probably wasn't even close to $20,000.  That's very true.  However, according to Comic Book Realm (which is a site I absolutely love!) even in reprehensible condition, I mean flat out crappy with creases and tears and rusted staples, it's valued at $600.  Even at a rating of .5 out of 10, which is where a sneeze could vaporize the comic, it's valued at $100.

Now you're going to say, "Well, a comic is only worth what someone will pay for it."  Um, yeah, and I can tell you that any moderate to serious collector would buy this comic because of it's incredible value.  I would.

So, how to you view this?  Do we feel sorry for the seller?  I do.  Some may say that he should have done more research before he sold it and I agree.  But the real question to me is what did the buyer know?  Did they know the value or didn't they?  Did they see the comic, guess it might be old, and offer $350 in an act of pure honest ignorance?  I don't think so.  I'm going to guess that the buyer bought it knowing full well the worth and ran all the way home to tell his friends or, even worse, tried to sell it on eBay for $30,000 (trust me, I've seen it done).

Yes, I'm making an assumption.  The buyer could not have known just like I didn't know about the comic my wife bought.  But we're talking Ant-Man, my wife bought one of those "risque" comics, with actual nudity in it, so there's really no comparison.  Did the buyer not know who Ant-Man was? not likely.  Marvel has been pounding the release of this movie now for months.  You can't walk 10 feet without tripping over a sign for the movie.  They knew.

So, is the buyer at fault for taking this poor man to the cleaners or is the seller at fault for not doing their homework.  I would say both have equal responsibility in this transaction, but I would also say that the kind gentleman seemed happy with the deal.  So, who am I to trample on his happiness?

I let the words my son said be the final say in the matter.  Thankfully the topic changed when his son said, "I have a mint condition Amazing Spider-Man with the first appearance of the Punisher, how much is that worth?"  The answer is about $1,300 in Near Mint (any collector worth his salt knows this is Amazing Spider-Man #129).

I told him it was around $1,300 but I would have to see it.  I could see in his face the sheer delight at what he had.  He should be proud, there are a ton of people that would pay the asking price for that comic.  Not only is Spider-Man huge, but the Punisher has made more than one movie appearance himself and has hundreds of comics with him in them.

The bottom line is simple.  Get you comics appraised, know what you have, and get what they are worth.  I am very happy, and I mean it, that the gentleman was happy with the sale.  In reality that's all that matters.  Would he have been much happier with a couple thousand?  Probably.

Me?  I'm amazed and frustrated because I think he was deliberately taken by the buyer.  I can only hope that the kind gentleman has some incredible sales days at the flea markets because he deserves to make that money.

Comic Book Appraising...Why People Need To Think Twice About Who Does The Appraising

But, Comic Whisperer, isn't this what you do?  Why do a complete overhaul on something that you are passionate about and love to do???!!!  Has the whole world gone insane?

(angry rants from the mob, torches being lit, Democrats and Republicans holding hands and smiling...)

Please, everyone, calm down. Let me explain.

(angered mumbling, people shaving their heads, mice turning their nose up at cheese...)

I spent 20 years training in the martial arts.  Aikido, specifically.  I broke all my toes at least once, suffered numerous contusions, and watched a friend continue through his black belt test even after he broke his leg during the testing.  I thought that everyone went through this suffering and torment when training and that this was what it took to hand to be honored with a black belt.  But it was filled with rules!

I was taught to never wear your uniform in public, that it was a tasteless display.  I was taught never to wash my belt because in ancient Japan belts turned from white to black after many years of soaking up blood sweat and tears.  We were not GIVEN different color belts or CHARGED  for testing.  This was about honor and advancement.  I was even taught never to discuss my training in public as it was considered a boast.  I had colleagues I worked with for 15 years that never knew I even set foot in a martial arts school.

I thought this is what it took to hang a shingle on your own school and become a Sensei.

I happily, but painfully trained, to become a 4th Degree Black Belt and decided to branch out on my own and opened up a school, soon followed by a second school.  It was fantastic!

Then reality hit.

I heard that one chain martial arts school promised you a black belt if you paid some ridiculous sum of money.  You could earn it in 2 years.

What?!  I had practiced almost daily for 5 years, my black belt test was 4 hours, and I still wasn't sure if I passed.

I heard that another martial arts school was giving black belts to kids 10 and under!

What?!  I was taught that the belt came with discipline and the ability to sustain great stress without cracking.  These kids weren't disciplined enough to clean their rooms or do their homework.  No, I didn't know them personally, but I do have kids and know that at 10 there is very little discipline in anything.

To make matters worse, one day I was teaching my students and another instructor from another school walked in a spoke to me while I was teaching.  He was wearing a red, white and blue uniform and broke the code of speaking to an instructor while he was teaching his students (or her students, let's not get a gender argument going).  There was no respect shown and there was a definite "Karate Kid" type of vibe going.

What?!  A red, white and blue uniform?  Is there fashion in the martial arts now?  To say nothing of interrupting me while I was speaking to my students and challenging me?  Did I draw the short straw?  I didn't even know this person.  I politely asked him to leave, did not take up the challenge, and went back to teaching.

But the lessons were learned.  Anybody and their dog can set up a martial arts school.  There was nothing to keep someone who had never trained in their life from setting up, and teaching at, a school.

"Why would't someone notice?  I mean, if they weren't that good why would someone pay to be taught by them."  (Screams a gentleman in the back.  No, not that guy, the one next to him.  Yeah, that's him...)

The answer is simple.  Very few people know what "good" looks like and a person in a uniform often gain respect just by the fact that they are in a uniform.  My students often looked at me like I don't have to pay taxes, don't bleed and have a perfect life.  I kept them from thinking this by letting one of them wear my black belt for the class to show they didn't magically change.  My Sensei would have been ashamed of me allowing someone else to wear my belt, but it proved a point.

The bottom line is that as long as I can befuddle you with my "skills" I can convince you that you should let me teach you.  Once I have your respect as a student, which often came from the simple fact that I was the Sensei and it was my school, I can tell you just about anything.  I wouldn't, but I could.

Hey, "Sensei" are you going to get to anything resembling comic book appraising or am I reading the wrong blog?  (says the guy in the red, white and blue uniform with a 40th degree black belt who just started training 2 months ago and has a school)

Yes, I am.  My long winded point is that anyone can open a comic appraising business and claim that they are the authority on the topic, just like the martial arts business.

"Yes, um...so?"  (Man that guys annoying, maybe I should challenge him to a fight  (slap)  Ow!  Who slapped me?  Oh, Sensei I didn't see you there... (me bowing))

So, let's look at some of the "appraisers" that are out there.  I won't mention any names, that would be rude, but there are some that irritate me.  Companies that hire "appraisers" and put them through a "training" program to help them become appraisers.  Or a person who bought a comic book shop because he thought it would be cool and now consults with people on the value of their comics.

Is there no shame?  How did it come to this?

Sure, I can see how sales companies can hire sales people by training them on their products and certifying their knowledge through testing.  Some damn good salespeople are out there and would never question their knowledge.

But are you telling me that an accountant can decide to change jobs, go through a "training program" and become a comic appraiser?  I'm not being sarcastic, I know the person.  A person who has NEVER picked up a comic before and doesn't even own one is now a comic appraiser for an appraisal company that has 3 letters (I'm not being rude, this still leaves two appraisal houses.)

Shouldn't there be some requirement that you have to have read a comic in order to appraise comics? Shouldn't there be a law that you have to do more than own a comic store for 2 weeks to be able to appraise comics?

Now, you can try to compare one to the other and say that the sales people I previously mentioned were allowed to sell after being trained and they didn't have to take the pill in order to sell the pill.  It's apples and oranges, people.

Did anyone watch Pawn Stars where the Amazing Spider-Man #1 was deemed to be Fine - Fine- by the "appraiser" so he valued it at a ridiculously low price?  Who was that guy?  He valued the comic at $6,000?  W-W-W-What?  Then Corey (Cory, however you spell it) bought it from the guy for $4,000.  REALLY?  I'd pay $4,000 all day for that comic.  Beside that fact that the book was appraised by the "appraiser" after what would be considered a glance.  It was, in no-way, a Fine - Fine-.  On Comic Book Realm that book is valued between $8,000 - $12,000 at that rating.  As it is in other reliable sources.  But this guy, this "appraiser", was a joke.

Now, consider this happening in mass quantities at the larger comic appraisal housed.  I sent several of my comics to the larger houses to get them appraised.  I even sent the same comic to two different companies and got two different appraisals.  They weren't off by a small fraction, they were off by a full point.  From one place it came back as a 7.2 and from another it came back as an 8.4.

Are you kidding me?  A full 1.2 points off?

The reason is simple.  When you are getting hundreds of comics a day it becomes a matter of metrics.  My friend who works for one of the big houses says that one of his metrics, upon which he is judged by, is number of books graded per day.  The higher his average the better.   So, if he grades 10 (a number I made up to protect the innocent) an hour he is looked upon better than if he grades 6 an hour (again, a made up number).

So, what happens when appraising is rushed by someone who has never read a comic in his life?  He grades a 7.2 as an 8.4.  Then, when people like me go into a auction house who says that they only rely on grades given by "insert big appraisal house here" I cringe.

I have sold at big companies,  I know the eternal struggle between quantity of sales calls and quality of sales calls.  Appraisal companies are no different.  How do you expect them to pay their bills if they don't increase the flow of comics?  But to say to someone "the more you do the better" is like saying that rushing and giving 10 crappy appraisals (or mediocre appraisals, I don't want to say all of them, or even most of them, are bad) is better than slowing down and giving 5 high quality appraisals?

The reason this irritates me is not because I appraise comics and am saying I am better than them.  It's because rushed appraisals are effecting an industry that I love.  Poor appraisals can lead to lower values than deserved, or higher for that matter, and effect the whole industry.  Those of you who bought pet rocks or mood rings remember how something cleverly marketed can swing an entire economy.

My request would be to you, as a comic book fan, is choose your appraiser carefully.   Do you want to be part of 5,000 comics coming through that are appraised by people who are being asked to push through as many as possible?  I don't.  I don't even appraise my own, I ask another private appraiser to do mine.  You should too.  Go to someone who cares and knows comics inside and out, not someone who was a WalMart greeter yesterday and is an appraiser today.