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Original Superman comic becomes the highest-priced comic book ever sold

bbc.com

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Re: Original Superman comic becomes the highest-priced comic book ever sold

#51

Post by RobotToaster »

daseiner1 wrote: post #37
muzani wrote: post #31

Does anyone know why this particular issue is so valuable? I'm assuming it's some mix of investment, timing, sentimental value, and rarity. But which ones particularly?

the article explicitly states that this original Superman #1 is the highest graded copy of all-time it’s valuable for the same reason the mona lisa is valuable. it’s iconic, it is a singular object, it is one of a kind, it is a stable investment vehicle. they ain’t making more of them.

> they ain’t making more of them.

I always wonder exactly how difficult it would be to get the paper, ink, staples, etc exactly right. I'm sure it would be difficult but 9m is a big payoff if you can.

Re: Original Superman comic becomes the highest-priced comic book ever sold

#52

Post by WalterBright »

Galanwe wrote: post #50

I know nothing of this world of comics, I guess because it is essentially part of the US culture and did not penetrate much of Europe. There has been a number of investigative shows arguing the valuation of collectibles in general (comics included) is largely driven by money laundering. Is it some kind of conspiracy theory of is this legit ?

I remember as a kid that Superman #1 was going for thousands of dollars and we just oohed and aahed.

Re: Original Superman comic becomes the highest-priced comic book ever sold

#53

Post by stavros »

saretup wrote: post #48
onion2k wrote: post #41

Earlier quoted context omitted.

I ask because I think the price is only as high if the item in question is still cultural relevant. Les Poseuses Ensemble by Georges Seurat was sold for $149m. Very few people have heard of it, care about it, or even like it considering it's pointillism which no one buys modern versions of. The world of art and collectables is entirely rich people speculating that the price (not value) will go up in the future.

Don’t forget the tax savings.

What tax savings? How does that work?

Re: Original Superman comic becomes the highest-priced comic book ever sold

#54

Post by [deleted] »

RobotToaster wrote: post #51
daseiner1 wrote: post #37

Earlier quoted context omitted.

the article explicitly states that this original Superman #1 is the highest graded copy of all-time it’s valuable for the same reason the mona lisa is valuable. it’s iconic, it is a singular object, it is one of a kind, it is a stable investment vehicle. they ain’t making more of them.

> they ain’t making more of them. I always wonder exactly how difficult it would be to get the paper, ink, staples, etc exactly right. I'm sure it would be difficult but 9m is a big payoff if you can.

[deleted]

Re: Original Superman comic becomes the highest-priced comic book ever sold

#55

Post by stavros »

xeonmc wrote: post #43
evanelias wrote: post #22

Earlier quoted context omitted.

It really doesn't make sense to read a 9.0 condition key comic like this. If you really wanted to read it, you would be better off buying a second reading copy in terrible condition. The cost of the reading copy would end up being less than the negative impact to the condition (and therefore value) of your mint copy from reading it a single time.

Makes me think of this Simpsons episode: https://www.youtube.com/watch?v=Ii4Msc9ESEw

Why did he do that?

Re: Original Superman comic becomes the highest-priced comic book ever sold

#57

Post by saretup »

stavros wrote: post #53
saretup wrote: post #48

Earlier quoted context omitted.

Don’t forget the tax savings.

What tax savings? How does that work?

Different tax loopholes depending on region etc, but basically like this:

I’m a billionaire earning $100M this year.

I owe $40M as taxes for that. (Too much!)

I find a dumb banana painting by a starving artist.

I buy it from him for $1000.

I wait 6 months.

I go to a museum to get it appraised by “professionals”.

I pay the professional appraiser’s wife $50K as a gift.

The appraiser says the painting is now worth $30M!

Wow that’s awesome, I have such a keen eye for art.

You know what, I’m gonna donate this painting to a museum instead because I’m such a patron of art and culture.

Oh, look at that, I get a tax rebate for the value of my donated painting ($30M)

Now I only have to pay $40M - $30M = $10M in taxes on my $100M income.

There’s more nuance to it in practice, but that’s the gist of it.

-----

Edit: For some reason I can't reply to the comments below so I'm gonna do it here.

> That wouldn't explain the price here, since in your scam the whole idea is to buy cheap and donate dear. not buy for 139M

Now we're getting in the details but it's very suspicious for an appraiser to appraise a work of art from an unknown artist at millions. But it's not that suspicious if they take Van Gogh's Starry Night which was previously appraised at $500M to now be valued at $1B. this way the deca-billionaire still gets to save his taxes while appraiser avoids suspicion.

> As far as I know, that's not how taxes work. You can't get a rebate for the amount of taxes you would have paid, you can get a deduction for the amount of money you made.

There are a lot of loopholes in the complicated tax system for the ultra-wealthy, not for us. This video (still a simple explanation in an animated way) covers a few more of them: https://www.youtube.com/watch?v=dHy07B-UHkE

Re: Original Superman comic becomes the highest-priced comic book ever sold

#58

Post by _puk »

Lerc wrote: post #49
zakki wrote: post #42

Earlier quoted context omitted.

I would say something like this is an analog version of nowadays crypto currency.

It is, but only for thing people would legitimately like to have. The entire NFT thing would work if it were restricted to things people want, even if that only amounts to bragging rights. Somewhere along the way people lost track of the fact that being able to trade something doesn't denote value in itself

"only for thing people would legitimately like to have."

Whilst that may be true for the most part, much of the art dealt nowadays is never displayed, just stored somewhere incredibly tax efficient until it's value has gone up enough to warrant selling.

https://theswisstimes.ch/unlocking-the-secrets-of-the-geneva...

Re: Original Superman comic becomes the highest-priced comic book ever sold

#59

Post by stavros »

saretup wrote: post #57
stavros wrote: post #53

Earlier quoted context omitted.

What tax savings? How does that work?

Different tax loopholes depending on region etc, but basically like this: I’m a billionaire earning $100M this year. I owe $40M as taxes for that. (Too much!) I find a dumb banana painting by a starving artist. I buy it from him for $1000. I wait 6 months. I go to a museum to get it appraised by “professionals”. I pay the professional appraiser’s wife $50K as a gift. The appraiser says the painting is now worth $30M!…

As far as I know, that's not how taxes work. You can't get a rebate for the amount of taxes you would have paid, you can get a deduction for the amount of money you made.

So:

You made $100M owe $40M in taxes.

Your painting is worth $30M! You have such a keen eye for art.

Now you made $130M and owe $50M in taxes.

You donate the painting, you're back at having made $100M and owing $40M.

Otherwise we'd all choose not to pay tax and donate our tax money to charitable institutions instead.

Re: Original Superman comic becomes the highest-priced comic book ever sold

#60

Post by stonecharioteer »

saretup wrote: post #48
onion2k wrote: post #41

Earlier quoted context omitted.

I ask because I think the price is only as high if the item in question is still cultural relevant. Les Poseuses Ensemble by Georges Seurat was sold for $149m. Very few people have heard of it, care about it, or even like it considering it's pointillism which no one buys modern versions of. The world of art and collectables is entirely rich people speculating that the price (not value) will go up in the future.

Don’t forget the tax savings.

Dunno why I can't reply to your other comment explaining what you mean but hot damn. False evaluation of a cheap painting to save on taxes? That's mental.
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