Not a CBCS member yet? Join now »
CBCS Comics
Not a CBCS member yet? Join now »
Collector DWeeB1967 private msg quote post Address this user
Question for those of you who trade slabs with dealers...

For in-demand slabbed books (for example, a high-grade copy of a 1st appearance of an A or B level Bronze Age Marvel character), what kind of percentage of FMV do you need from the recipient before you make the trade?

Back in the day, when I used to trade raw books with dealers at shows, somewhere around 60% of listed prices (usually Wizard or OPG) seemed to be the number a dealer would offer in trade. These days, with prices being so bonkers, I'm thinking it would need to be a higher percentage to trade a slabbed in-demand book.

Of course, that would also depend on how badly I want what I'm trading for, I guess.

Any thoughts?
Post 1 IP   flag post
Collector cesidio private msg quote post Address this user
At most 15 to 20 percent. Usually closer to 10 percent. No gocollect no other outlets. The average of the last five sales on ebay. The give you the number voila. The are in buisness to make money not be "fair". I only deal with them when I buy. Especially with the around times the upmarket is ridicules. One of my LCS had a turtles #6 9.8 cgc for 999 dollars. I asked the owner " why an even grand? Hue said four figures scare people off. To me 999 for a book than was 30 bucks 20 years is just as frightening.

To each their own. My experience and my 2 cents
Post 2 IP   flag post
Collector DWeeB1967 private msg quote post Address this user
@cesidio Thanks!

I'd never trade to someone offering only 10% to 20% of FMV. So if the offer was that low then there's no chance the trade would happen.
Post 3 IP   flag post
Collector southerncross private msg quote post Address this user
I've found that if you're adding money you'll get a decent trade on your books.

50-60% seems to be general from good dealers to trade with.
I've gotten 80% at times for books dealers have never seen before or just wanted for themselves and not the store.

If it's golden age Timely I'd want a flat 80-100% as they are not common and are sought after.

I did get 100% trade for my undercopy X-Men 94 in cbcs 4.0 for a Superman 7 cgc 2.5 and money for difference but I work there so got a deal on that one 👍
Post 4 IP   flag post
Collector DWeeB1967 private msg quote post Address this user
Thanks, @southerncross.

That's about in line with what I was thinking. Unfortunately, I don't have enough GA or Timely to trade. I sure wish I did. 😄
Post 5 IP   flag post
Collector southerncross private msg quote post Address this user
Quote:
Originally Posted by DWeeB1967
Thanks, @southerncross.

That's about in line with what I was thinking. Unfortunately, I don't have enough GA or Timely to trade. I sure wish I did. 😄


What I've done is buy very cheap minor keys when I see them.
When I say cheap I'm thinking rock bottom prices, you do see them especially DCs.

And I use them as trade bait.
But they only work when the dealer doesn't have a single copy where you'll get the best percentage in trade.
Post 6 IP   flag post
Collector DWeeB1967 private msg quote post Address this user
Yea that makes sense, @southerncross.

I used to do something similar with new issues back in the 80s and 90s. I'd buy two copies of some books and, if the FMV for the book went up, I'd trade (usual multiple books at once) for a BA or SA book that I wanted. Ahh, the good old days. 😄
Post 7 IP   flag post
Masculinity takes a holiday. EbayMafia private msg quote post Address this user
Quote:
Originally Posted by cesidio
At most 15 to 20 percent. Usually closer to 10 percent. No gocollect no other outlets. The average of the last five sales on ebay. The give you the number voila. The are in buisness to make money not be "fair". I only deal with them when I buy. Especially with the around times the upmarket is ridicules. One of my LCS had a turtles #6 9.8 cgc for 999 dollars. I asked the owner " why an even grand? Hue said four figures scare people off. To me 999 for a book than was 30 bucks 20 years is just as frightening.

To each their own. My experience and my 2 cents


@cesidio I think your local LCS is loco. Maybe he hasn't heard of the internet and still believes he has a captive audience.
Post 8 IP   flag post
Masculinity takes a holiday. EbayMafia private msg quote post Address this user
Quote:
Originally Posted by southerncross
I've found that if you're adding money you'll get a decent trade on your books.


That can be a useful component. There are 3 components to be considered in a negotiation...Price, Terms and Conditions. So how much you get in trade value should depend on the liquidity of what you are trading vs what you are trading for. It should also include the availability of the books on both sides of the trade. And as you mention, it should also take into account if one side is adding cash to the deal. When all 3 components are taken into account honestly by both sides it's much more likely to result in a deal than if only price/value is being considered. I would probably not take less than 80% of FMV if trading a slab that is somewhat in demand.
Post 9 IP   flag post
Ima gonna steal this and look for some occasion to use it! IronMan private msg quote post Address this user
Something not mentioned in any detail so far is what caliber of books you are trading - and trading for.

You are not likely to get the same percentage of FMV trading a stack of $300-$500 slabs for a $10,000 book as you would if trading for other $300-$500 books. You can adjust the math based on value. But you seldom get the same % of value trading lots of lesser books for a much more valuable book. As a dealer it's easier to sell one book than 100 and the big book brings lots of lookers
Post 10 IP   flag post
It was a one trick pony show but always hilarious. GAC private msg quote post Address this user
Quote:
Originally Posted by cesidio
At most 15 to 20 percent. Usually closer to 10 percent. No gocollect no other outlets. The average of the last five sales on ebay. The give you the number voila. The are in buisness to make money not be "fair". I only deal with them when I buy. Especially with the around times the upmarket is ridicules. One of my LCS had a turtles #6 9.8 cgc for 999 dollars. I asked the owner " why an even grand? Hue said four figures scare people off. To me 999 for a book than was 30 bucks 20 years is just as frightening.

To each their own. My experience and my 2 cents


There's a difference between needing to make money and ripping people off. 10 to 20% is ripping people off.
Post 11 IP   flag post
TL;DR Davethebrave private msg quote post Address this user
It goes both ways. It is all about the speed to realize the FMV.

I love older DC books and see better value. They also aren’t declining as much in FMV during the current down-trend BUT I also would be the first to admit many Marvel books will have better liquidity.

Cuts two ways. More liquid books are more susceptible to setting lower FMVs (multiple datapoints “validating” a move lower or higher). You can sell more easily, however, “at” the given FMV.

If I am a dealer and not a speculator, I’d take a thinner margin on an ASM129 at $3,000 than an IH#1 at $20,000 as I can turn 10 ASMs at FMV more quickly than one IH1.

There is an adage in the car industry that the guys who own Toyota dealerships are the ones driving Ferraris.



Quote:
Originally Posted by IronMan
Something not mentioned in any detail so far is what caliber of books you are trading - and trading for.

You are not likely to get the same percentage of FMV trading a stack of $300-$500 slabs for a $10,000 book as you would if trading for other $300-$500 books. You can adjust the math based on value. But you seldom get the same % of value trading lots of lesser books for a much more valuable book. As a dealer it's easier to sell one book than 100 and the big book brings lots of lookers
Post 12 IP   flag post
Masculinity takes a holiday. EbayMafia private msg quote post Address this user
Quote:
Originally Posted by Davethebrave
If I am a dealer and not a speculator, I’d take a thinner margin on an ASM129 at $3,000 than an IH#1 at $20,000 as I can turn 10 ASMs at FMV more quickly than one IH1


I agree that liquidity trumps FMV in the hierarchy of things that give you trade leverage. A typical dealer is going to measure liquidity by how long he's been staring at his book. So trying to trade for a book that they've had for a while is likely to be better than trading for a new arrival. I also think the collector is put at a disadvantage simply by the fact that we are approaching the dealer for a trade rather than the other way around. It implies that they should be getting profit from the deal. A good strategy might be to present a dealer with several books and ask which they would be interested in trading for before even mentioning what you are interested in. Kind of level the playing field a bit as far as negotiating leverage.
Post 13 IP   flag post
TL;DR Davethebrave private msg quote post Address this user
Sampling also provides the benefit of catching “pass through” brokered opportunities.

If a dealer already has a buyer lined up then they are more likely to do a favorable deal.

Liquid books have ready buyers by default. Rarer books may take longer OR the dealer may be able to move at a premium if they have a ready buyer.

Generally illiquid assets have wider bid/ask spreads. Highly liquid have narrower ones.
Post 14 IP   flag post
Collector cesidio private msg quote post Address this user
It liquidity and greed got two raw GI Joe # 2 and #6 for a 20 bucks. At LCS last time I was there..all vf to nm.way see it what goes comes
Post 15 IP   flag post
Collector 00slim private msg quote post Address this user
I’ve traded high-end books at 75% with dealers.
Post 16 IP   flag post
489775 16 16
Log in or sign up to compose a reply.