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Buying private collections: Do's and Dont's1657

Collector Odins_Raven private msg quote post Address this user
What are the DO's and DONT'S of buying private collections???

I recently came across a opportunity to potentially buy a private collection. I have never done this before and I am wondering if anyone with experience has some wisdom and tactics for negotiating with older collectors that they would be willing to share either on this thread or in pm?

I am not new to collecting but the people with the collection have no clue what they're books are worth but based on the info that the collection consists of "mostly DC's from the 60's-70's", I am wondering how I should approach any potential negotiations once I am able to actually see them. (They have not mentioned any keys or titles yet).

Thanks!
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Collector TyrantK private msg quote post Address this user
This may not help but when purchasing a large(ish) collection, I explain that "we need to be judging price off of fair MARKET value and not sentimental value." I have run into individuals that want to sell me book(s) based on values other than what it's worth, whatever that may be. If the individual starts playing hard ball, but is motivated to sell, then bring a price guide with you and price out some of the more "important" books. If possible, get a rough list of what's being offered and ball park what you are wanting to spend based off of those listed.

When/if keys are mentioned/introduced, I typically tackle those separately. For example, I will give you 500 bucks for these non-keys and then 500 for the set of keys. That way, the seller knows that I am at least acknowledging the importance of certain comics and that I am not trying to dick 'em over.

Hope this helps....
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COLLECTOR kaptainmyke private msg quote post Address this user
I once bought an estate sale collection for $1100 without knowing yet what was in the collection.

The owner had passed away and the family was trying to sell off all belongings. They absolutely did not care the value or what was inside of the collectibles collection. The family hired an estate sale company to inventory and mark everything. Furniture, clothes, antiques, etc. The company approached my local comic store lady to ask if they knew ANYONE who wanted to buy the collection. Since most of it was sold by the LCS lady, she passed and instead thought of her customers...and asked if I wanted the collection.

The "collection" of collectibles turned out to be one of the biggest and best investments I ever made. Lots of keys, lots of Bowen statues, original comic art...etc. I ended up paying less than $0.10 per item. Unbelievable.

I've never found a deal like that ever again, ever since.
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Collector Lunarshade private msg quote post Address this user
I have worked for a collectible store in retail and you need to pick up items at roughly 50% of market value so I would fairly judge the items and give them 50%. The seller knows the deal ahead of time and is part of the valuation process.

I now sell things online with very little overhead so I would probably give the seller 80% and just get 20% and explain what a retailer would do above. If they sell to me they are getting 30% more. You and the seller can just talk percentages and it will usually work out.

I have negotiated 5 figure deals and have been a collector all my life. You need to know the products and how to deal with people to be ultimately successful. The best deals are when both parties walk away satisfied because if you treat them right word travels and others may find you by word of mouth.
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Collector Johnnylray private msg quote post Address this user
Your Reputation is the most important part of ANY deal you are involved with. Be fair, know how much you want to spend, what you are looking for. Be honest, tell them "These are keys, this is valuable" etc. Tell them you pay at least 50%, maybe less if you have to buy in bulk- and that is based on Condition. If at any time the deal goes down and the seller thinks you dicked them over, your name instantly becomes shit and everyone in the hobby or in your city knows the dick move. I have no problem paying for something I want - and if I have to buy 100 extra crap books, I will tell the seller, that is why I am doing so. Honesty is the best policy. Good luck!! Ray/RI
Post 5 IP   flag post
Collector Lunarshade private msg quote post Address this user
Quote:
Originally Posted by Johnnylray
Your Reputation is the most important part of ANY deal you are involved with. Be fair, know how much you want to spend, what you are looking for. Be honest, tell them "These are keys, this is valuable" etc. Tell them you pay at least 50%, maybe less if you have to buy in bulk- and that is based on Condition. If at any time the deal goes down and the seller thinks you dicked them over, your name instantly becomes shit and everyone in the hobby or in your city knows the dick move. I have no problem paying for something I want - and if I have to buy 100 extra crap books, I will tell the seller, that is why I am doing so. Honesty is the best policy. Good luck!! Ray/RI


He said it all you are born with a good name and its your job to die with a good name!
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Collector Odins_Raven private msg quote post Address this user
Quote:
Originally Posted by Lunarshade
Quote:
Originally Posted by Johnnylray
Your Reputation is the most important part of ANY deal you are involved with. Be fair, know how much you want to spend, what you are looking for. Be honest, tell them "These are keys, this is valuable" etc. Tell them you pay at least 50%, maybe less if you have to buy in bulk- and that is based on Condition. If at any time the deal goes down and the seller thinks you dicked them over, your name instantly becomes shit and everyone in the hobby or in your city knows the dick move. I have no problem paying for something I want - and if I have to buy 100 extra crap books, I will tell the seller, that is why I am doing so. Honesty is the best policy. Good luck!! Ray/RI


He said it all you are born with a good name and its your job to die with a good name!


100%
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Collector Odins_Raven private msg quote post Address this user
Quote:
Originally Posted by kaptainmyke
I once bought an estate sale collection for $1100 without knowing yet what was in the collection.

The owner had passed away and the family was trying to sell off all belongings. They absolutely did not care the value or what was inside of the collectibles collection. The family hired an estate sale company to inventory and mark everything. Furniture, clothes, antiques, etc. The company approached my local comic store lady to ask if they knew ANYONE who wanted to buy the collection. Since most of it was sold by the LCS lady, she passed and instead thought of her customers...and asked if I wanted the collection.

The "collection" of collectibles turned out to be one of the biggest and best investments I ever made. Lots of keys, lots of Bowen statues, original comic art...etc. I ended up paying less than $0.10 per item. Unbelievable.

I've never found a deal like that ever again, ever since.


I have heard of those rare opportunities. Congratulations! I hope perhaps this might be that kind of thing for me.
Post 8 IP   flag post
Collector Odins_Raven private msg quote post Address this user
Quote:
Originally Posted by TyrantK
This may not help but when purchasing a large(ish) collection, I explain that "we need to be judging price off of fair MARKET value and not sentimental value." I have run into individuals that want to sell me book(s) based on values other than what it's worth, whatever that may be. If the individual starts playing hard ball, but is motivated to sell, then bring a price guide with you and price out some of the more "important" books. If possible, get a rough list of what's being offered and ball park what you are wanting to spend based off of those listed.

When/if keys are mentioned/introduced, I typically tackle those separately. For example, I will give you 500 bucks for these non-keys and then 500 for the set of keys. That way, the seller knows that I am at least acknowledging the importance of certain comics and that I am not trying to dick 'em over.

Hope this helps....


Thank you! This is why I wanted to ask publicly.
Post 9 IP   flag post
COLLECTOR kaptainmyke private msg quote post Address this user
Quote:
Originally Posted by Odins_Raven
Quote:
Originally Posted by kaptainmyke
I once bought an estate sale collection for $1100 without knowing yet what was in the collection.

The owner had passed away and the family was trying to sell off all belongings. They absolutely did not care the value or what was inside of the collectibles collection. The family hired an estate sale company to inventory and mark everything. Furniture, clothes, antiques, etc. The company approached my local comic store lady to ask if they knew ANYONE who wanted to buy the collection. Since most of it was sold by the LCS lady, she passed and instead thought of her customers...and asked if I wanted the collection.

The "collection" of collectibles turned out to be one of the biggest and best investments I ever made. Lots of keys, lots of Bowen statues, original comic art...etc. I ended up paying less than $0.10 per item. Unbelievable.

I've never found a deal like that ever again, ever since.


I have heard of those rare opportunities. Congratulations! I hope perhaps this might be that kind of thing for me.


Thanks. I knew I couldn't pass it up! I even told the estate sale people what they had...and they basically told me, "We are not in the business of comic books. We are in the business of helping people move on and sell their beloved one's belongings." After speaking with the handlers and the owner of the estate, I no longer felt any guilt or buyers remorse. My LCS Lady simply stated she "did not have time or the desire to go through all that inventory and price it all out".

VERY rare opportunity indeed.
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COLLECTOR kaptainmyke private msg quote post Address this user
...on that note, it makes me wonder if it's worth it or not to sign up for local estate sales that advertise comic books in their listings? I never really thought on that since it was a few years ago now.
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Collector Jaydknight private msg quote post Address this user
@kaptainmyke You purchased it without knowing what was in the collection? Risky, but it definitely sounded like it paid off! If you recall, what was the most valuable piece in the collection?
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COLLECTOR kaptainmyke private msg quote post Address this user
There were a lot of them... Giant Size X-Men #1, FF #48, 1st Vision X-men, All the Wolverine and Punisher miniseries, Vegeance of Bane, Killing Joke, just about a little bit of everything. This guy loved x-men, masters of kung fu, and Avengers. I also remember a lot of 90s Usagi Yojimbo, Aliens, and other Dark Horse titles. The Bowen Statues went for some money at auction on ebay. Most of those sold for $300 or more each. The reason I flew in blind is because I knew and understood what type of collector he was, so I knew several items would give me my ROI quickly.

Shockingly, it wasn't until this year, almost 4 years later, this summer actually, I decided to sell off all the comic book pages and original art. I had no idea those would fetch $350-$500 each as well. I invested in a bunch of 4" shipping tubes and it was easy to deal with on ebay.
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