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BREAKING UPDATE – Daredevil buyout offer

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

Verdict

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.

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Author

Wyatt Cavalier

Wyatt Cavalier

With a background in finance & intelligence analysis, Wyatt has an unhealthy obsession with finding the best blue chip investment opportunities. His previous newsletter, Fractional, resonated deeply with subscribers, bringing actionable insights and unconventional trading strategies. His rare book collection specializes in banned editions. He currently lives in Spain with his beautiful wife, three young boys, and dog Monty.

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