No Really, Best Reason I've Seen In A While For Selling (In This Case) A Comic Book ...

JackWESQ · May 17, 2008 4:51PM

This is about a comic book so I apologize in advance for posting here. But here's an auction for a Hulk No. 181 CGC 9.4 w/ 1st Appearance of Wolverine currently at $2,000.00 with 1 day and 17 hours to go.

Seller states "I do not want to sell this comic but I have to in order to keep my house ... " Normally, I would laugh at this, but with the state of the economy, I must admit that I believe him.

/s/ JackWESQ

VitoCo1972 · May 17, 2008 5:00PM

I don't know this guy in any way shape or form, but if he really is in a position to lose his house due to a subprime mortgage coming due, why the heck did he set himself up in a subprime situation while he had $1000's in comic books lying around? If he liquidated them BEFORE signing a terrible mortgage, he would have been able to put more down up front and get a better rate. I hope it works out for the guy. Maybe he has just had the comics since he was a kid - but those are investment grade comics that he has been selling.

unsympathetic rant over

Anyway, I feel bad for the guy. I'm only replying because I could be in the same situation if I wanted. My fiance and I want to buy a house and I have tens of thousands tied up in cards, golf memorabilia, autographs and comics. I don't want to sell them - but I wouldn't sign a subprime loan to keep them - so we're still renting.

Patience is a virtue.

storm888 · May 17, 2008 5:01PM

Fontana, CA foreclosures:

house or comic book?

stevek · May 17, 2008 10:19PM

<< <i>This is about a comic book so I apologize in advance for posting here. But here's an auction for a Hulk No. 181 CGC 9.4 w/ 1st Appearance of Wolverine currently at $2,000.00 with 1 day and 17 hours to go.

Seller states "I do not want to sell this comic but I have to in order to keep my house ... " Normally, I would laugh at this, but with the state of the economy, I must admit that I believe him.

/s/ JackWESQ >>

The "story" may be true - whether or not these "ebay stories" help sellers to obtain higher sales prices - I doubt it. If I wanted to buy this comic book, wouldn't matter to me if the guy was selling his house or if it was Bill Gates - I'm gonna pay what I wanna pay.

MeteoriteGuy · May 17, 2008 11:33PM

<< <i>I don't know this guy in any way shape or form, but if he really is in a position to lose his house due to a subprime mortgage coming due, why the heck did he set himself up in a subprime situation while he had $1000's in comic books lying around? If he liquidated them BEFORE signing a terrible mortgage, he would have been able to put more down up front and get a better rate. I hope it works out for the guy. Maybe he has just had the comics since he was a kid - but those are investment grade comics that he has been selling.

unsympathetic rant over

Anyway, I feel bad for the guy. I'm only replying because I could be in the same situation if I wanted. My fiance and I want to buy a house and I have tens of thousands tied up in cards, golf memorabilia, autographs and comics. I don't want to sell them - but I wouldn't sign a subprime loan to keep them - so we're still renting.

Patience is a virtue. >>

I think that was a fair rant a couple years ago. Now I think the bigger effect is that many people are making 30% less then they were 10 years ago...and things have doubled plus in cost since Bush. Less money and higher cost is not good math.

Mark

BobaFett72 · May 17, 2008 11:52PM

the story may or may not be true. but i have several friend who are upside down on their houses. These are hard working folks who make good money, they have crappy mortgages and their home values have dropped 15-25%.

They, like me probably got a lousy 3% raise, if ANY this year. Cost of gas, transportation, food et. al. has gone up well over that amount.

Working harder to make less money. Go Team!

julen23 · May 18, 2008 12:32AM

sweet comic,
funny seeing wolverine in the yellow & blue custom however.

looks more like a cat than superhero.

j

perkdog · May 18, 2008 12:46AM

He should keep the Comic Book! Ok he sells it and pays this months mortgage, then what happens next month?

lsutigers1973 · May 18, 2008 1:22AM

Let me first say that I am a long time Realtor. The adjustable rate mortgages were the way to go 2-5 years ago when you could not get a fixed rate loan. No one other than Ralph Nader seemed to realize the impending doom that was ahead, including this guy with the auction. Nader stepped down as head of the Feds because of this coming doom. So, if this story is true, the seller was not expecting or refused to see that his monthly payment would probably almost double after 2 years. Now, he is stuck with selling his prized collection or losing his house. If any one read some of my threads on the Buy/Sell board a few months ago, I was in the same position. BTW, thanks to those that helped. Now, I have finally gotten my feet back on the ground thanks to a fixed rate mortgage and have started to replinish my collection. If this story is true, I feel bad for the guy because I have been there and hope everything works out for him.

AkbarClone · May 18, 2008 2:47AM

<< <i>Nader stepped down as head of the Feds because of this coming doom >>

Ralph Nader...head of the Feds?

Stone193 · May 18, 2008 3:06AM

I've made some bonehead decisions and signed stuff that I didn't fully understand in my life - so my take?

I feel bad for the guy and anyone who got into this mess and I wish them all the best!

These lending institutions are at fault also - pimps!

kidzfund · May 18, 2008 3:10AM

I believe he meant to say Alan Greenspan. Nobody coculd understand what he wasa saying when he was head of the Fed, but now that he makes money from speeches, he speaks with amazing clarity...
Joe

EagleEyeKid · May 18, 2008 3:21AM

That comic brings back memories.
I tried for 2 years to get that comic back in 1981 when I used to collect comics.
The New X-Men were becoming the hot item, no one talked much about Wolverine's
first appearance, and it literally hit over night. Issue 181 of the Hulk was about $10
and jumped to $75 within a week. There were problems deciphering which was the
true first appearance. Many believe it was #180 of the Hulk because Wolverine appeared
in the last page which was like a brief cameo. Full story contined on #181. Basically he was
hired to go kill the Hulk. Ah memories and nostalgia.

Boopotts · May 18, 2008 3:22AM

<< <i>I believe he meant to say Alan Greenspan. Nobody coculd understand what he wasa saying when he was head of the Fed, but now that he makes money from speeches, he speaks with amazing clarity...
Joe >>

I know most of you have have seen this before, but in case anyone missed it I just have to post the greatest Greenspan quote ever: "If I seem unduly clear to you, you must have misunderstood what I said." I believe it was Greenspan who also said that ARMs should benefit homeowners when the market rate is LOW, which so far as I can tell makes no sense whatsoever.

Mike nailed it: I've made so many terrible decisions in my life that I can't, in good conscience, laugh at someone else's miscues without feeling like a total hypocrit.

lsutigers1973 · May 18, 2008 3:55AM

OOPS! Freudian slip. Was watching show about Nader, meant Greenspan. Shouldnt post after only one cup of coffee.

mkg809 · May 18, 2008 4:09AM

I got laid off 2 weeks ago and I have been selling several items to help pay my bills.
It's tough to go without even 1 paycheck when you live week to week. I hope my stimulus check comes soon, or I may be applying at McDonalds or WalMart.

storm888 · May 18, 2008 4:33AM

I am pretty certain that bad-times cometh.

I loan money on stuff. My in-book is larger than it has been
since 1979. My redemptions are at an ALL TIME low. My
conversions to inventory from pledge are off the charts;
looks like 1977, or worse.

The REO-books at CFC and WAMU are exciting. 20-cents+/-
on the 2004/05 mtg-appraisals. Even TMA has a growing REO-book.
This is NOT a subprime problem. It is something different than
I have ever seen.

CASH is about to be an exceptionally nice thing to own.

zippy · May 18, 2008 7:29AM

I recall a similar deal back in the early 70's
A comic collector had purchased a new house & hadn't sold the old one
since he collected golden age comics he advertised to trade his house for comic books never figuring he would get any interest

Well He found a collector looking for a House & did a comic book collection for A house trade, NO cash involved

I recall the home valued at $50K at the time

At the time the was a unheard type of transaction, the local newspapers loved the story

I love horse trading stories like this

julen23 · May 18, 2008 8:28AM

the world is a ghetto

stevek · May 18, 2008 8:48AM

Ah it's all no big deal. We'll just become professional online poker players and spend 8 hours a day doing that, learning to become skilled gamblers, and teach our children to do the same and everything will be okay.

We'll build more casinos which produce wonderful "manufacturing" jobs such as blackjack dealers and pit bosses - skilled labor that will make America great again.

And if that isn't enough good stuff, we'll display lottery advertisements seemingly nonstop on TV to give hope to all, that to gamble just a little dollar, with some good luck today, we can become millionaires in tonight's lottery drawing. Why study hard or work hard, when that lottery jackpot dream can come true and we'll live happily ever after.

Gambling has become the opium of the American people.

-

No Really, Best Reason I've Seen In A While For Selling (In This Case) A Comic Book ...

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