Tell that to Washington DC and voters. Unfortunately the American mentality is that I can have everything I want without needing the money to pay for anything I want!
This is such appropriate advice. There are so many temptations out there, and so many ways to fall into FOMO. With prices being as "low" as they are now, it's not hard to imagine a lot of collectors thinking about making an all-out assault on the keys and grails they want now, while the market is kinda depressed. That may mean buying on credit...which as you say, Swag...is not a good idea. I've been guilty of this before, and every time I get a sweet offer on Shortboxed, my pulse picks up a little bit and I negotiate with myself..."should I do this now? Will I get this deal again?" It's tough out there and discipline can be hard to come by! But we should all bookmark this video and return to it every few weeks to remind ourselves to not go into debt for these things.
Well said Mickey. When you told me you were making this video I was so happy to hear it. I've discussed stuff along these lines in the past but you have such a great way of breaking it down for people and people really need to hear it. One thing to touch on is that I believe mental health is a serious factor in that conversation as well. People are often self-medicating with a dopamine hit from buying comics they love, and that is such a fleeting feeling once you do it, but the impact on credit cards/funds/bank accounts can last a near eternity. Thanks again for covering this topic so well, it's one of the reasons why you continue to be one of my favorite creators in this space.
I've noticed collectors that have been round are big into "Hold that for me" "Can you do 30% off" "I get paid next week" "have to pay bills"...doesn't sound good when you read this stuff. Now is a time for Bear...not many people have scratch during these times but you can find great deals. Lots of people exiting the hobby
This is probably the best sit-down comic video I have seen to date. And you're 100% correct, too. Appreciate you posting this; it helped put my fomo urge back in it's place. Even if the key I want is only $50, it's still $50 that I can't afford to spend right now
Great video and great advice. Also, I would add be cautious about the Marvel movie/TV hype FOMO. I don't think it's coming back. That ship has sailed. I have a ton of friends still stocking up on Ms. Marvel, Iron Heart,Agatha,Wonder Man and other Marvel hyped keys.
I called this about a month ago, when you mentioned “perhaps we hit the low and are moving back up” I’m afraid, not so brother. It’s going to get a lot worse. People took out loans and refinanced their houses looking to become millionaires by selling comics. These things never last. It’s a hobby, not a commodity. Over leveraging will bring liquidations across the board devaluing everything. Watch out for November 2023…once people realize they don’t have enough money to buy Christmas gifts. Comics will be the last thing in peoples minds. We will see further falls in valuations as people seek to sell their stock to make some cash. Unemployment is rising, layoffs are not stopping. It’s shameful that American schools don’t teach people fiscal responsibility. Love this talk Mickey.
Great video! When I first got into comics, everyone said that ASMs, particularly 1-50, were the blue chips comics and always go up. Being curious, I did the math for the last 20 years, the ASM key books between 1-50 returned 8% versus 11% for the S&P 500. The better returns will always be outside comics (although much more boring) and even buying the blue chips can't keep up with credit card interest rates that are ~20%.
One thing I’ve learned about collectibles over the years is that you’ll almost always cross it again. And your buying situation may be better the next time around.
I think a lot of people did buy a bunch when they had this so-called "Disposable Income", but now the economy is very slow, inflation continues to be a problem, everything is more expensive, gas, food, other energy costs, interest rates are awful, it's just totally miserable. I'm not surprised at all people are selling off books now, probably at a loss, just to get whatever they can still get out of them. My collection is very small and I don't aspire to own many books but comic collecting is kind of a luxury, I mean, people in Argentina aren't collecting them.
I've hit my limit on key buying for a couple months or so. Got some goodies tho. As far as credit I DO buy some on PayPal credit but I always pay them completely off within the period where they don't charge interest. (you get a few months to pay it off before interest kicks in) I've gotten some sweet books that way.
Hey Mickey, this is one of the best videos that you have put out in fact I enjoy all your videos very much. I look forward to them every week but thank you for bringing the light into collecting.
This is great to talk about. I realized it eventually and it is very freeing realizing you can’t have everything/buy everything- and that’s ok. Buy what you like. Also what you can afford. I collect, I read, and I sell. I have a full time job and then sell comic books to make a little extra money. A lot of times it funds my next comic book purchases. I am always hunting for books, which is where I find more books to sell and upgrade my personal collection. You never want to compare yourself to others i great advice too. You will never be happy doing that. Create your own happiness by doing the best you can do.
Thanks for the subtle reminder that RU-vidrs routinely dropping 4 figures on comic books can afford to do so. Which means these guys and gals make well over six figures. Watch these monthly mega-purchases for entertainment. Don't try this at home.
I still can’t get my arms around how some of the RU-vidrs can continue to spend big dollars on collection after collection. Must be making some serious cheese I guess.
Good video and good points. I buy comics on a cash flow basis, every month I have a certain amount of money I spend on comics and when I hit that, I am done. Sometimes that is hard because I may see a good deal on a book I want, but I control myself and just hope it is still around next month. In addition, I really don't buy books worrying about how much the comic will be worth in the future, I buy what appeals to me and I don't plan on selling any of them. That is how I do it, works for me, may not for others, but that's OK. Once again, good thoughts.
The only way I would buy a comic to "flip" or "resell" is I would have to have a potential buyer already lined up. Buying any asset on credit is insane unless you have a concrete plan. Don't knock payment plans! I'm essentially buying keys on layaway - I just buy the books I normally buy and when I get tired of them I sell them (plus other stuff in PC I'm tired of) and put the money toward bigger books. It generally takes 3-4 months to sell/trade my way toward a single key, but I'm never spending more than I would have put into the hobby anyway.
FOMO, Hype, thinking your comic books will be profitable. Just collect what you like and don't think it's going to make you rich. If I collect keys it's usually low grades that I can afford with cash. If it goes up great if not no biggie
We knew this would happen as the market continues to sink that sadly collectors who overbought need to dump their collections. I’ve always advised to only buy if you can and if you can’t afford it don’t buy, wait until better times.
I really appreciate this video. Getting back into comic books and would love to be able to buy and sell to support the hobby. Videos like this help keep everything in perspective. Thanks!
The fourth type of people who make money in comics and the people I know who do the best are the diggers. Those who dig and find cheap books in long boxes rather than buying off the wall.
Getting really good at grading is the other key trick. It's definitely possible to make money on wall books if you can spot which ones are a bit underpriced for the grade
@@ctuck8644. I disagree. I want to be able to read and view a book and it’s content as published. Reprints do not have that time capsule ability facsimiles get, however classic x is pretty good, but they do change the story to meet current canon. I just wish they published facsimiles in original sized books, but I can see this some how making it tempting for fraudsters.
Great advice. I’ve never used credit or money designated for necessities to buy comics. I’m currently sitting back and relatively satisfied with the books I have. Now down to 157 slabs and want to trim further. Always up for a good deal, particularly a trade, multiple books for one, otherwise I’m out of the comic market particularly in this environment . Thanks!
speak the truth man!!! I have not bought any new books and focused on stuff I can afford. I keep a comic book float that I can drop at any moment for a collection, and keep putting a small amount into it every month.
100% of the collectibles I buy (comic books, trading cards and signed memorabilia) is always through cash or debit card. I NEVER use a credit card. Plus, I only purchase what “I like” and can currently afford. I am not influenced by what’s hot, what the speculation is or that it is a “holy grail.” If my checking account screams at me, I know it’s not the right purchase for me at this time.
I think the idea of looking at the comic book market as “investments” is problematic. As you describe in the video, it’s complicated. I think people might look at buying on credit similar to gambling on margin with the stock market, or even the adage, “it takes money , to make money”. They aren’t similar type of transactions, especially the time expected and required to hold. When you look at your channels videos, do you feel you been part of the culture that helps to contribute to these type situations?
Preach Swag! I collected Spawn from early on and decided it was time to move on around issue 300. I did well and never planned on making a dime on it. But what you like and sell when it feels right. Your Jones’ comment applies to life and a lot of OCD collectors need to hear it’s ok to pass/ wait, ect.
This man hit the nail on the head. He loves comics and yet he speculates. You just set limits (price, collection size, downside risk, % of net worth invested, etc… There really will always be another book and another opportunity, it may be as good as you want or the same comic but be warned… do not mix emotion with the rules you set for yourself. If your bankroll dies so will your collection, you just protect every dollar you put into a comic by following your preliminary rules to offset risk. KNOW YOUR LIMITS KNOW YOUR ALLOWABLE RISK TO MEET YOUR GOAL MAKE RULES AND FOLLOW THEM IF THEY ARE WORKING FOR YOU. TRACK EVERYTHING and MAKE IT EASY TO ASSESS REGULARLY. Example (I have “I have $24k in comics but my current FMV is $12k, well guess what your rules aren’t working, stop doing what you’re doing)
It seems like a decade ago (but only 2 years ago) every video I watched was about "invest NOW! Comic and Cards are waay better than the stock market"... and a Thanos Snap later we are here. [Update: The 2nd guy isn't guaranteed to just make money by holding. My sports card collection was over 100k when I stopped in the 90s, I sold it in 2018 for 4k.]
This guy Rudy on the internet tubes, correction on RU-vid the name is Rudy and he is a magic owner and collectibles of magic and he got some videos about over-leveraged and so on. He's got a good solid points of view on the business cycles that were going through and stuff.
There are a lot of collectibles out there right now that are dropping in value because the owners are desperate for cash. Sellers who refuse to bargain when a book is clearly not worth several 100 bucks anymore are being swept aside because all you have to do is wait a few weeks and the same book you wanted will show up for much less. I'm expecting prices to continue to fall though, so you might want to pace out purchases unless you plan to hold for a long long time.
Good, sound advice. Many of us want to feel that we’re investing in comics. Carrying interest based debt of any kind will erode the prospects of personal investments. This applies to key comics and gold alike. You can still buy for your personal collection but don’t buy it on credit.
These are all great tips. Thank you for stressing the wait. Some of my worst bad beat stories are from jumping on a "hot deal" or this is the only one scenarios. Only to find a better deal in the next couple weeks. And most of my wins are from being patient. Make friends genuinely and they'll probably hook you up. But nobody wants to be your friend because you posted the latest hot key.
Didn’t have to overreach but yesterday I bought 30 long boxes of dollar bin books. The goal is to cash them in and buy a bigger book. Collecting is so fun.
I think something that anybody should do who is buying comics as investments, is try to sell some of them first. You need an exit strategy. Are you going to sell them? Are your kids going to sell them in the future? Do you live somewhere where the shipping costs make sense to sell them? Are you willing to put in the time listing them on ebay? etc
If a person was to make an investment in comics... now is the time. People who took loans out at the peak are the ones that are truly getting a bad deal. It's a buyers market here on out
I still think it will be lower prices in a year. Looking at the upcoming Marvel and DC movies coming out the next year we will find other than Deadpool 3. There will be bomb after bomb at the box office and TV ratings.
Much appreciated topic. The market does suck now, I've been holding on to boxes of comics I'd love to get rid of but my local shops can't use them because of said bad market. This hobby can be such a burden at times
I've got stuff up for sale on ebay, but people just can't afford it. I'm lucky that I don't need the money so I can just sit on it. But some people must be really struggling right now. I went to a comic con on the weekend and didn't buy anything, while prices are a little lower now keeping your head above water is more important and you never know when life can kick you in the nuts.
This was a great video and needed to be broadcast. Thanks for sharing this and making me feel better about my situation. I may not have all the books I want, but it's just paper. If I lost my entire collection tomorrow, I wouldn't notice a thing except being sad, lol. Thanks, Swaggle.
Overall great advice. My father taught me when I was a child that if you have a credit card and there’s money on the credit card to pay it right away because even if you empty your bank account, the bank accounts are only earning 0.1% to 4% interest and that credit card is charging 15 to 20% interest so you always lose your money. If you don’t pay it off right away say must be said about buying comic books on credit. If you don’t have the money, don’t buy it.
There's also a problem when you can actually afford them but you keep buying without stop. This is the first year I'm trying hard to expend less that I'm earning with sales.Thanks for the Comic psychology!😊. Àlex. (Barcelona)
Really awesome video & breakdown. Its wild how or why people decide to spend money on comic books over natural needs in life. Love that you touched on credit cards, man anyone buying comic books with a credit card and paying payments on that, "JUST STOP!" . I am your #2 comic book collector, been collecting since I was 9, everything was purchased off the rack. Good Times, thanks for the video.
I will not enter into a installment plan arrangement with my customers or allow use of a "buy now, pay later" service. That is the best I can do. Now if they choose to otherwise overextend themselves, buy that AF 15 before owning traditional investments (there are far more of those folks than we know), that I have no control over.
Imo cgc slabs, and auctions have increased fomo 10x in the hobby People will pay $100+ for an extra .2 that isn’t even their favorite book or character That is wild to me
i think you need to address all the light shining on those comics on the back wall. can you say sun fading. for sure i think there are people that had bought into comics for "investing" but honesly couldnt afford them now are riding the razor edge with their finances. now they are liquidating and getting out. im seeing more and more on the bst groups on facebook.
This is really sage advice and hopefully collectors will heed it. The Covid boom created a lot of bad habits, but in the end 99% of us will not be able to buy all or even some of the books we want. It's a wonderful hobby, but as you stated, don't buy a book with money you don't have. Lenders and Credit Card companies will love you -- and all the extra $ you have to cough up.
If an asset goes up quickly, it usually comes back down. By the time people are all talking about an asset, its usually too late, so best to wait until the asset comes back down instead of fomoing into it and almost guaranteeing a loss. I usually buy comics that have gone down, or seem undervalued (like a good buy for the grade compared to comparables, or first appearances / cool covers that haven't popped yet, at a price that won't hurt if they don't catch on)
You're 100% correct. Comics were always aimed for the disposable income. When l started collecting in the 70"s, one could buy Golden Age comics. There is no wsy a 19 year old who starts a collection is ever going to buy something like AF15 with disposable income. I have 6 books on order that will cost me over several 1000's (FF#5 The Avengers #3 plus a few more) we agreed on a time payment of several months, l will just pay with disposable income over the next few months.
Twenty years ago, for a while, I had to buy groceries using a credit card. It made me sick to do it, but that was for necessities and only for a very brief time. I can't imagine using credit to buy collectibles.
I have also owned a store when I was a teenager and seen the good and bad of collectibles. Part of the reason I got back in was because I wanted to do it right this time. Life is about lessons, and I have surpassed even my goals with comics
Hello, my son and I in the Collectables market in a large way. I’m an older guy whom is familiar with business. Although not not this market per say at a shop level. Would you be willing to talk off line? Thanks
The most I've ever spent on a single comic is $200. I really wouldn't feel comfortable spending more on any other book. Even if you show me a super deal on a sweet silver age key, I'm going to have to fight through a lot of misgivings to actually go for it. It's limited my collection in ways, but I've found some really good deals in the margins otherwise. I like to think that I have some money left in the bank as a consequence.
Awesome video. I'm going to add the unforeseen, for now. I am a huge WW2 collector who also goes for antique toys. I have been experiencing the weirdest most unexpected thing in collecting WW2 items and i see it going to the comic books. I am experiencing people who learn of your collection and they are now pin pointing a collector specific items and telling others you are a Nazi sympathizer because you collected for decades original Hitler photos that couldn't be sold on ebay. To me I hate everything Hitler ever did, but i've got hundreds of original photos worth hundreds a piece. i fall into the bracket of bought low decades ago and can now sell high. I collect silver and golden age comics primarily. Some of my favorites are war related, and a lot of them are like the golden age Captain America showing Hitler or soldiers with armbands. One complaint to ebay and they will be banned. There are people who are like me, and I'm from California, a liberal area near SF, if my personal self is called into question, like if i was a senator or business owner, one mention i collect nazi stuff, even though for profit, I am toast.
I pity those that try to buy comic books to turn a profit, i only buy for myself. At least the ones i want to read or from my childhood... even if i have to wait 10 months for someone on ebay to make me a %50 off offer because he couldn't sell it at an inflated price, even after lowering the price for 3 months :P
I just subscribe to your channel. I like your content. I’m a collector from the 70s and 80s I just came back how do you figure out the best way to find out who writes and draws comics.? I’m about to go to a convention I want to get some stuff signed.
No kidding. I have seen this coming for over a year and tried to comment on this within in the comic community and it fell on deaf ears. I feel for those in financial straits but it was their own greed that ultimately did them in. It is a Spec Market and no one should ever forget that. However, for those who are not in financial trouble, they will clean up. In addition, purchase wisely and you will most likely have to hold on to these purchases for the next 4 to 5 years to maximize ROI.
