Welcome to Comics Insider. This is a new feature where we analyze a current buyout offer.
Daredevil #1 9.0
About the Asset
This is a 9.0 graded copy of Daredevil #1. This issue features the first appearance of Daredevil, the origin of Daredevil, the first appearance of Karen Page, and the first appearance of Foggy Nelson .There are a total of 86 in circulation.
About the Offer
Rally has received a net offer of $18,648.31 ($1.62/share) for this copy. The gross offer amount was not disclosed. That represents an 1.3% premium over the current trading price.
Recent Sales History and Valuation
Rally bought this copy for $9,500 mid 2020, and the most recent public sale was $12,500 in early December, though there was a sale for $18k in between those two comps.
As there are no recent sales, we can look to the CGC 8.5 version for guidance; its most recent sale was April 2021 for $23,400 with another that same month for $24,600. Those each represent an increase of 160% since mid December (the last sale of a CGC 9.0).
That would imply a valuation of around $32,500 for the copy on Rally’s block.
We can also look at a recent CGC 9.4 sale for $56k in April 2021. That’s around a 150% increase on that version’s last sale in April 2019. Two copies of 9.0 graded issues sold for $9,900 and $10,200 in May and March 2019, respectively. Applying the same appreciation gives us $25k for the 9.0 version.
If we split the difference between our two comp-derived valuations, we reach an Inferred Value of $28,750.
Worth noting there are two separate copies of 9.0 graded books currently at auction with Heritage ending 18 June. They’re up to $15k and $16,200. One would think the person making the buyout offer would just buy one of those — unless of course he thinks they’re going to sell for more than he’s offered Rally.
Inferred value – $28,750
I don’t own any of these shares, but I would vote no if I did. It won’t trade again on Rally for a couple of months, but I would expect the price to pop a bit when it does.