Posted in: Comics, Current News | Tagged: bankrupt, diamond
Two weeks to go… how will the Diamond Comic Distributors auction affect collectors? How much will be up for grabs?
Article Summary
- Get ready for Diamond Comic Distributors’ big bankruptcy auction on March 24, impacting collectors worldwide.
- Millions in comics and goods may flood the market, potentially pushing prices lower for collectors and retailers.
- High-volume sales at a discount could reshape market dynamics and influence collector strategies.
- Collectors face both opportunities and risks as market prices may drop due to increased supply.
The Diamond Comic Distributors bankruptcy auction is almost upon us. Monday, the 24th of March, two weeks to the day. As well as everything from Free Comic Book Day, Diamond UK, Alliance Games and Gentle Giant up for grabs, there are also the contents of the warehouses. Forty years equals a lot of stock; there are estimations that there could be anything up to a hundred million US dollars worth of comic books and related merchandise up and down those warehouse shelves. Recently, Diamond cleared out thousands of supposedly rare ratio variant covers, and Bleeding Cool only covered a sliver of what was available. Those comics have now been absorbed into the overall market and have had the effect of cooling prices a tad, given that retailers could pick them up for $5 to $10 a piece when they are commonly sold on eBay from $50 to $100.
It is quite possible that, in an attempt to raise as much money as fast as possible, the bankruptcy court will do the same for everything. Massive amounts of stock, sold at a discount level, to such a degree that it could heavily impact the overall market, adding supply in surfeit of demand at a heavy discount. and given the nature of the bankruptcy, in such a public fashion, that market prices will plummet. For collectors looking to buy, it could be a once-in-a-lifetime opportunity. for collectors who have already bought, there may be a lot of upset. While this will only directly impact demand and sales for more recent products, a chilling effect on one part of the market can spread to the rest. This will, of course, all depend on what is in those warehouses, what of it Diamond is able to sell, and how much they can sell it for en masse.
There has been much focus on the impact Diamond Comic Distributors’ Chapter 11 bankruptcy procedures will have on comic book publishers and creators. Now, it’s time to see the impact on collectors as well.
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