Auction Action by Altan Insights: September 16, 2021

This week on Auction Action, the Altan Insights team virtually visits Goldin Auctions to preview their Comic Book, Video Game & TCG Elite Auction. The event contains a plethora of direct comps and even some assets that should look very familiar to alternative asset investors. The auction ends on September 18th and 20% buyer’s premium will be added to the final hammer price of all items. 

Comic Books

There are four different comic books at Goldin's event this week that IPO'd on Rally and were ultimately bought out. In total, investors on Rally have accepted ten buyout offers for comic books with an average ROI of 42.2% from IPO. There have been 28 comic book IPO's on Rally which means 35.7% have been bought. Investors on Otis have accepted buyouts for two of the ten comic books that have IPO'd on their platform for an average ROI of 121% from IPO.

Asset: 1964 Marvel Comics "Daredevil" #1 (CGC 9.0)

Goldin: $14,000

Rally (EXIT): $19,895

Preview: Investors on Rally initially rejected a buyout offer for the 1964 copy of Daredevil on Rally in June when a buyer put forward an offer of $18,648.31. The offer was denied by 56% of investors on a share weighted basis but for the 44% who voted to approve, their wishes to liquidate were realized one month later. On July 24th, 61.7% of investors voted to accept a $19,895 offer. The buyout resulted in a 73% ROI from IPO and the exact copy of this 1st Edition comic is now available for bidding on Goldin with the price currently sitting at $14,000 through 14 bids. 

 

Asset: 1962 Marvel Comics "Journey Into Mystery" #83 (CGC 9.4)

Goldin: $240,000

Rally (EXIT): $247,570

Preview: Another comic book that received a buyout offer that was ultimately accepted was the 1962 Marvel Comics Journey Into Mystery #83. Rally IPO’d their copy on January 8th for $215,000 and on July 15th, investors accepted a buyout offer for $247,570. The offer netted investors a 15.2% return over the IPO market cap but that exact copy has reappeared at Goldin’s auction and has a current price tag that already exceeds the buyout. The copy at Goldin is priced at $240,000 through 6 bids which would give the comic a value of $288,000 with buyer’s premium if the auction ended today. This was the first comic to feature Thor and there are only two examples graded higher. 

Asset: 1974 Marvel Comics "Incredible Hulk" #181 (CGC 9.8)

Goldin: $48,000

Rally (EXIT): $54,300

Otis: $73,000

Preview: Another comic that was sold via a buyout on Rally that has resurfaced at the Goldin event is the 1974 Marvel Comics Incredible Hulk #181. Rally IPO’d their comic on February 8th for $47,500 and investors accepted a buyout off for $54,300 on July 23rd. This particular comic is known for introducing the world to a new character: Wolverine. Otis offered their 9.8 graded copy for $35,000 in 2020 and their example has gained 108.57% overall on their secondary market. Goldin is now featuring the comic once owned by Rally and it has reached $48,000 through the first 7 bids. With buyer’s premium that would give the comic a hammer price of $57,600 if the event closed today.



Asset: 1963 Marvel Comics "Avengers" #1 (CGC 9.6)

Goldin: $170,000

Rally (EXIT): $309,850

Otis (CGC 9.4): $155,000

Preview: One of the undisputed grails of the comic book world, this first edition copy of Marvel’s ‘Avengers’ is graded CGC 9.6 which places it in the top tier of all graded examples. There are just four other copies that carry an equal grade and no copies graded higher. Rally received a buyout for their Avengers #1 on July 7th and their offer was accepted two days later with 88% voting to approve. Goldin has the same exact comic now available for bidding with a current price of $170,000 through 8 bids. Otis has a CGC 9.4 graded copy trading on their secondary market with a market cap of $155,000. The Otis offering IPO’d in the summer of 2020 and is up 55% since IPO. 

Asset: 1962 Marvel Comics "Amazing Fantasy" #15

Goldin (CGC 8.5): $525,000

Rally (EXIT- CGC 8): $229,888.27

Preview: The iconic Amazing Fantasy #15 returns to the auction floor this week at Goldin with a CGC 8.5 graded copy headlining the event. Heritage Auctions sold a CGC 9.6 graded example on September 9th for $3.6 million, setting a new comic book record. The comic at Goldin has already established itself as the most expensive CGC 8.5 copy ever sold after it surpassed the previous top price of $155,350 struck in 2017. Investors on Rally accepted a buyout offer in June with 80% voting to approve the 14.9% ROI. Comic book prices have been volatile in recent months but based on 2017-2019 sales, it is reasonable to place a 2.5x-3x multiple on a CGC 8.5 graded examples over a copy carrying an 8.


Card Games

Asset: 1999 Pokemon 1st Edition Holographic #4 Charizard (PSA 10)

Goldin: $140,000

Rally: $245,000

Preview: Rally’s Charizard slipped -30% in its last trading session after opening at a $350,000 market cap in March. The highest realized price for this Charizard Holo was struck by PWCC for $506,969 on February 20th. Goldin’s card has attracted 10 bids and reached a price of $140,000 with two days remaining in the event.

Asset: 2000 Pokemon Neo Genesis 1st Edition Holographic #9 Lugia (PSA 10)

Goldin: $20,000

Rally: $80,000

Preview: Rally IPO’d their Lugia in March for $110,000 and the PSA 10 graded Pokemon card tumbled -27.27% in its first trading session. There are only 42 other PSA 10 graded examples and Goldin is featuring one of them at their event. The Goldin card sits at $20,000 through the first five bids.

Asset: 2000 Pokemon Neo Genesis 1st Edition Factory Sealed Booster Box

Goldin: $22,000

Rally: $45,000

Preview: The box know for holding the first-edition Lugia card, Rally IPO’d their sealed booster on April 14th and it is expected to open for trading on October 7th. This booster box introduced the first set of Baby Pokémon cards. Sales for the box peaked above $60,000 in late-2020 and have since settled in the $30,000-$40,000 range. Goldin’s box has attracted six bids and stands at $22,000 with less than three days remaining. 

Asset: 1999 Pokemon Jungle 1st Edition Booster Box

Goldin (2 boxes): $10,000

Goldin (1 box): $4,750

Rally (1 box): $27,600

Preview: Goldin has two different lots that feature sealed Jungle boxes. Lot #165 contains a single box that has garnered 14 bids with a current hammer price of $4,750. Lot #166 features two boxes that are currently priced at $10,000 through 7 bids. Rally’s sealed box has slipped -20% from its IPO price of $34,500 and last traded on July 22nd.

Asset: 1999 Pokemon Fossil 1st Edition Unopened Booster Box

Goldin: $6,500

Rally: $17,220

Preview: Rally IPO’d their Fossil box in January for $21,000 and the sealed booster has dropped -18% on their secondary market overall. The box found some momentum in its last trading session though- gaining 13.89% on July 28th. Goldin has a sealed Fossil box that has a high bid of $6,500 through the first 9 bids. 

Asset: 2000 Pokemon Gym Heroes 1st Edition Unopened Booster Box

Goldin: $5,500

Rally: $18,000

Preview: PWCC sold a 1st Edition Gym Heroes Box on February 27th for $19,400 and prices have failed to reach that level since. Rally offered their box in March and it is scheduled to trade for the first time on October 8th.

Asset: 2000 Pokemon Team Rocket 1st Edition Unopened Booster Box

Goldin: $5,000

Rally: $19,950

Preview: Rally’s Team Rocket Box dropped -30% in its first trading session on June 30th. Goldin sold a Team Rocket Box for $11,400 in August and this sealed booster is priced at $5,000 through 17 bids. 

Video Games

Asset: 1989 NES Nintendo (USA) "Teenage Mutant Ninja Turtles" (WATA 9.4/A+)

Goldin: $10,000

Rally: $22,000

Preview: Over 350 investors bought into the first fractionalized TMNT video game IPO at a $22,000 market cap. Investors will have a great comp to base their decision on as the Rally offering carried the same 9.4 grade from WATA but an A for the seal. Goldin’s example has been active, attracting 14 bids with three days remaining in the auction.

Asset: 1998 Nintendo Game Boy (USA) "Pokémon Blue Version" (WATA 9.4/A+)

Goldin: $7,000

Rally: $26,400

Otis: $15,000

Preview: Both the Rally and Otis examples have traded positively as the Rally copy climbed 57.14% in its last trading session while the Otis game has gained 50% since IPO. The Goldin copy has an A+ seal versus the A carried by both fractional examples. Pokémon Blue was released alongside Pokémon Red as the first video game ever released by the global franchise. Over 200,000 copies were sold in the first two weeks and total sales reached 4 million within the first year. 

Asset: 1998 Nintendo Game Boy (USA) "Pokemon Red Version" (WATA 9.4/A++)

Goldin: $9,500

Rally (WATA 9.2): $40,000

Otis: $67,575

Preview: Speaking of Pokémon, Otis IPO’d their copy of Pokémon Red on July 20th for $75,000. The Gameboy game has since slipped -9.90% on their secondary market but has only been trading since September 7th. The Rally, Otis, and Goldin examples all have pixelated ESRB labels which means they are from the earliest production runs. Rally’s game is graded WATA 9.2 and is expected to begin trading in the coming months. 

Asset: 1998 N64 Nintendo 64 (USA) "The Legend of Zelda: Ocarina of Time" (WATA 9.6/A++)

Goldin: $24,000

Rally: $100,000

Preview: The Legend of Zelda: Ocarina of Time soared on Rally’s secondary market during its last session on August 9th. After opening at $23,500, the game added 325.53% to its market cap and now carries a price of $100,000. Rally’s game carries the same grade as the Goldin example although the Rally copy is a collector’s edition. Collector’s edition examples were only available to individuals who pre-ordered the game.

Asset: 2001 XBOX (USA) "Halo: Combat Evolved" (WATA 9.4/A)

Goldin: $6,000

Rally: $17,000

Preview: 190 investors funded the Halo on Rally which IPO’d with a $17,000 market cap. Rally’s copy carries a seal rating of A+ versus the Goldin example which has an A-graded seal. 

Asset: 1989 Nintendo Game Boy "Super Mario Land" Yellow Screenshots

Goldin: $10,000

Otis: $26,400

Preview: Both the Goldin and Otis examples carry the same grade for the game and seal. The Otis copy IPO’d on April 7th for $14,700 and has since soared 80% to a new market cap of $26,400.


Additional Results to Follow:

1985 NES Nintendo (USA) "Super Mario Bros." (Early Production) Two Code Hangtab Sealed Video Game (WATA 9.2/A): $475,000

1987 NES Nintendo (USA) "Mike Tyson's Punch Out!!" Oval SOQ (Late Production) Sealed Video Game (WATA 9.0/A+): $22,000

1999 Nintendo Game Boy (USA) "Pokemon Yellow Version: Special Pikachu Edition" (WATA 9.4/A++): $2,500

1963 Marvel Comics "X-Men" #1 (CGC 8.5): $67,000

1962 Marvel Comics (CGC 7.0): $39,000


Want to get more great insights and access to powerful tools to help guide your investment strategy? Signup for Altan Insights now.

Disclaimer: You understand that by reading Altan Insights, you are not receiving financial advice. No content published here constitutes a recommendation that any particular security, transaction, or investment strategy is suitable for any specific person. You further understand that the author(s) are not advising you personally concerning the nature, potential, value or suitability of any particular security, transaction, or investment strategy. You alone are solely responsible for determining whether an investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal financial situation. Please speak with a financial advisor to understand if the risks inherent in trading are appropriate for you. Trade at your own risk.