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How to calculate your overall earnings for selling comics?

 
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aaronchua
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PostPosted: Tue Sep 02, 2014 7:24 am    Post subject: How to calculate your overall earnings for selling comics? Reply with quote

Have an interesting discussion my Google + account on how to calculate profits on comic selling.

Do you (i) taken your whole inventory cost into the profit equation or do you calculate profits only when you either (2a) sell a book or (2b) write it off as a complete loss?

If using (1), I am still at a loss. Total spent on comics = 18.7k. Rev = 5.6k. Remaining inventory cost = ~13k

If using (2), I am making great profits on my picks although I need to offset some of the profits with the write offs I did for the moderns such as East of West #1.

So, (1)= balance sheet while (2) = profit and loss statement?
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Last edited by aaronchua on Tue Sep 02, 2014 9:57 am; edited 2 times in total
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whetteon
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PostPosted: Tue Sep 02, 2014 9:47 am    Post subject: Reply with quote

Excellent discussion.

Like you, if we use (1) I'm most likely in a 100K hole. Especially since I bought plenty of comics back in the early to mid nineties when when every Image comics was considered the next best thing but it read like a big pile of turd.

I also have bought many comics to read and enjoy that are still in my collection. For example, All-New X-Men - a great read but each issue will probably always be a $1 comic. The new Moon Knight series has really been a treat, we'll have to see how issue #7 is when it hits the stand.

However, if we use (2), these past five to ten years I have really done extremely well. I have a Microsoft Excel Spreadsheet that shows I spent about 80k in the past decade. Of the comics I have sold from that spreadsheet I have made $43K in resale value and probably 10-12K in actual profit. Of the remainder, I can honestly say I would possible hit the 100K mark.

Many of them I would hate selling but am willing to do so if, like Rai-Fan, I too lost my job. All printings of the Turtles and variants up to #4, Amazing Spidey #1, Tales of Suspense #39, Strange Tales keys, ect, ect. Most of these comics have recently doubled in price.

Here's where I would take this discussion: How can we get rid of the comics we no longer want or need in a economically reasonable fashion even if its cents on the $1? I ask because I have been having trouble liquidating about 10 comic long boxes full or $1 throw aways. Even if I got 10 cents per comic I would be happy with the write off. This November I'm thinking about donating a couple of long boxes to "Comics for Kids" as a tax write off.

Think
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whetteon
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PostPosted: Tue Sep 02, 2014 9:55 am    Post subject: Reply with quote

Quote:
Maybe (1) = balance sheet while (2) = profit and loss statement


If we are moving towards a portfolio balance sheet approach, than as each portfolio matures, we take into account all of the comics we successfully sold and the comics we didn't sell and come to some profit/loss number. That number would represent our performance balance sheet.

The remainder of the comics which didn't sell gets placed into a separate pile to be liquidated however we see fit ($1 bins, tax write offs or backlog storage).
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aaronchua
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PostPosted: Tue Sep 02, 2014 10:00 am    Post subject: Reply with quote

whetteon wrote:


Here's where I would take this discussion: How can we get rid of the comics we no longer want or need in a economically reasonable fashion even if its cents on the $1? I ask because I have been having trouble liquidating about 10 comic long boxes full or $1 throw aways. Even if I got 10 cents per comic I would be happy with the write off. This November I'm thinking about donating a couple of long boxes to "Comics for Kids" as a tax write off.

Think


To do a proper P&L, I tend to just write off these comics that I think have 0 redemption value. Sometimes, I literally dump comics into the garage cans. Then, I just record them as losses so that they get transferred from the balance sheet into the profit and loss.

Sometimes, it is just not worth the effort to deal with these no value comics.
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Last edited by aaronchua on Tue Sep 02, 2014 10:13 am; edited 1 time in total
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whetteon
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PostPosted: Tue Sep 02, 2014 10:03 am    Post subject: Reply with quote

aaronchua wrote:


Sometimes, it is just worth the effort to deal with these no value comics.


Some truth there. However, had I done that to my ninteies comic collection I would not have had Batman: Vengeance of Bane #1 or Infinity Gauntlet #1-6 or Superman: Man of Steel #17 or Batman Adventures #12 or.. well you get the point.
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aaronchua
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PostPosted: Tue Sep 02, 2014 10:15 am    Post subject: Reply with quote

whetteon wrote:
aaronchua wrote:


Sometimes, it is just worth the effort to deal with these no value comics.


Some truth there. However, had I done that to my ninteies comic collection I would not have had Batman: Vengeance of Bane #1 or Infinity Gauntlet #1-6 or Superman: Man of Steel #17 or Batman Adventures #12 or.. well you get the point.


That is true but I am more talking about stuff such as Helheim or the recent casualty, Clone. I am so glad I cleared all my Clone before the writer did the interview about the series ending.

For Marvel and DC, as long as they are first appearances, I think it is worth to hold on to them.
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whetteon
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PostPosted: Fri Sep 26, 2014 10:51 am    Post subject: Reply with quote

I had Clone #1 and I never got around to selling it! Crying or Very Sad
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