Overvalued Overstreet | Daredevil 7

Daredevil #7, Marvel Comics, April 1965. I can’t tell you how many times lower to mid grade copies of this book has queued up in my back issue bins over the years. Mind you I don’t think I have a copy at this moment but I think that’s due more to “aggressive discounting” than it is to rampant demand. The problem all along must have been an overvalued Overstreet value.

Welcome to Overvalued Overstreet. This column features books that the writer feels is currently overvalued in the Overstreet price guide and/or in the marketplace. This column is an opinion piece only and we’re hoping to see comments either jumping on or hopefully even defending the book.

Daredevil #7, Marvel Comics, April 1965

I can’t tell you how many times lower to mid grade copies of this book has queued up in my back issue bins over the years. Mind you I don’t think I have a copy at this moment but I think that’s due more to “aggressive discounting” than it is to rampant demand.

The problem all along must have been an overvalued Overstreet value.

Let me break down the Overstreet pricing:

Daredevil #6 9.0/$297, 9.0/$460

Daredevil #7 9.0/$1,350, 9.2/$2,100

The big difference between the two issues is that #7 introduces Daredevil’s new red costume transitioning from the yellow one worn in issue #6. That’s it as far as I can tell.

The Sub-Mariner guest appearance should not be that big a factor to drive price up that much seeing as it is Subby’s umpteenth x-over. Sure it was a great little battle at the end, Daredevil totally out of his league but never giving up. If there is an abundance of anything from Marvel in the 1960s though its classic battles so we can’t point to their little tilt as the reason for that much value.

You may say that the red costume is an important development and you’d be right. I’m saying it is not a justification for a five fold increase in value from the previous issue.

I’d like to back my argument by looking at another major Marvel character who benefited from a new costume. Iron Man went from that ugly ass yellow contraption he wore in Tales of Suspense #47 to his signature red armor that has been tweaked so much over the years, in Tales of Suspense #48. This is as dramatic and in all honesty probably even more a dramatic change that the Daredevil outfit went through.

Let’s have a look at how Overstreet is treating these Iron Man transition issues:

Tales of Suspense #47 9.0/$1,028, 9.2/$1,600

Tales of Suspense #48 9.0/$1,156, 9.2/$1,800

I’m not sure what I’m missing with this one but at this moment Daredevil #7 is worth more than Iron Man’s Tales of Suspense #48 and Tales #48 is an early, early 1963 Marvel.

The market seems to love Daredevil #7 more than my back issue bins ever did at least for high end copies, recently a CGC 9.2 sold for $2,345, which about 110% of Guide. Compare that to the last Tales of Suspense #48 sale of $1,232, or less than 70% of Guide. I should also note that Tales of Suspense #48 is scarcer in higher grade, there are 63 CGC 9.0 or better copies of TOS #48 versus 75 copies at CGC 9.0 or better for Daredevil #7.

I’m still not sure why the market keeps giving Daredevil #7 this much respect.

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Walter Durajlija
Walter Durajlija is an Overstreet Advisor and Shuster Award winner. He owns Big B Comics in Hamilton Ontario.
Articles: 1578

14 Comments

  1. During a CL auction back in 2010, I decided to take the plunge and I won a 9.2 copy of DD#7 for $2400 at a time when it was trading for $3500 to $3700. “What a steal!” I thought. Less than a year later, I wanted to test out various auction sites so I sent 3 books to ComicConnect, including an ASM#129 9.4, a Hulk#181 CGC 9.4 and yes, the DD#7 9.2, thinking I couldn’t possibly lose money on these books.. Unfortunately, each book ended a few hundred bucks lower than what I had paid and the accumulative loss after the commission felt like a punch in the gut. I learned 2 lessons from this experience:

    1. Never take advice from an auction house.
    2. Never try to catch a falling knife.

    Part of the issue was the economy at the time, something that the ComicConnect rep adamantly denied. He talked about their massive client list and how the market was expanding with more buyers each auction from around the world and record breaking prices. But while ASM#129’s and Hulk#181’s have come roaring back, poor DD#7 still lingers at my purchase price with no signs of improvement. The silver lining in all this is that there was enough time for me to put the money I received back to work prior to the 2012 run up.

    Experience can be brutal teacher. But you learn.

  2. Charlie’s experience aside — comics are volatile — what would you argue is the next most important DD after #1? Because that’s how #7 is priced. Maybe if this Defenders thing catches fire on Netflix, #4 vaults the Purple Man up the villain hierarchy, but until then, there’s no other contender in #2-10.
    If anything, I’d argue that TOS #48 is undervalued, as it introduces the seminal Iron Man look. But then again shellhead has had plenty of costume tweaks, whereas DD has had one ill-advised departure since this classic red costume was introduced.
    Sure Marvel had plenty of great battle issues, but as you noted this one is not the typical slugfest and stands out in its uniqueness vs all the early brawls involving some combo of the Hulk, Thing, Namor and/or Thor.
    As you noted, Walt, you had plenty of low-grade copies sit around, but the book is not uncommon. But as with other Marvel metallic purples eg Iron Man #1 and Strange Tales #135, flaws show easily and really nice copies look awesome, almost liquid in their coloration.
    I also think one could argue that besides defining DD’s look with the red costume, this book is as much about defining his persona as the Man Without Fear. I think you’re waaay underestimating the impact of the Namor battle by lumping it in with the other slugfests.
    The book may not have upside left, but I can’t think of a more important early DD issue after #1.

  3. I couldn’t agree with Readcomix more Walt. You’ve been slagging this book as long as I’ve known you…And in all that time I haven’t seen a copy above a cgc 5 in your store….and where do those raggedy anne copies exist Walt? I’ve never seen them in your bins either. Lots of Sgt Fury’s and Jimmy Olsen’s….but no DD #7’s.
    The contrasting colors on the cover , and the DD vs Subby Battle is supreme.
    Really…besides the Thing appearance in # 2…this was a difinning DD moment proving he could play in the big leagues. Also It takes a high grade copy to show this cover in all its beauty.
    Lots of DD # 6 and # 8’s in your bins in the last 15 years though.
    Gotta call you on this one Walt…Bad decision.
    You are slipping…just like yer buddy tennis star Novak Djokovic……Go Andy Murray

  4. Fair points fellas. I didn’t say the book held no merit I just think the value is disproportionate to the issues around it considering what it delivers. The Iron Man red costume change is distinctive enough for it to be seen as THE change for the character, the rest were derivatives of it so I still say a TOS #48 should be outperforming a DD #7 and agree some of that is the TOS #48 being undervalued.

    Charlie’s ASM #129 and Hulk #181 rebounded because they deliver much more for the market to embrace.

    I’ve always had the DD#7’s up on the wall Dave but I know Scotsmen don’t like craning their necks up to where the books are priced over the $5 price point or as I like to call it, the Glasgow Threshold.

  5. Good old Walt and Dave jabbing away…. Walt you should invite Dave to join your Comic Culture Radio Show. Just think of all the fun you two would have trading barbs.

    I think all of the points made above on DD#7 are fair and very good.

    Walt you can’t believe how badly I wanted to use Tales of Suspense #48 as undervalued when talking about Iron Man #1 in an earlier post here. I didn’t because Overstreet does not undervalue the book – the market place does. I have no idea why, given the importance of the costume change to Iron Man and his appeal as a super-hero. You can buy this book at a solid discount to guide for almost any grade, and I for one recommend it.

    Back to Daredevil#7 -carry on guys.

  6. Wow… I have to say I’m surprised by all the support for DD#7, which is all good. Perhaps it is a significant book. And if it is deserving of more recognition, so be it. But, financially speaking, why bank on “maybe, possibly and some day”… hoping for better times while chasing a dangling carrot:

    http://www.eltoro505.com/_comics/dd.png

    Why not double down on this instead:

    http://www.eltoro505.com/_comics/hulk.png

    DD of course is the lesser of the SA wave of characters. Key issues #3, 4, 18, 111, 158 all zig zag and struggle to hold their value, while #168 has recovered somewhat, but still off it’s recent peak from last spring. In the same way you don’t compare a TV actor to a movie star, the DD to IM comparison may not be apples to apples. Ms Marvels new costume in #22, Capt Marvel #17, ASM #252 and the 1st green Hulk in #2 are all books I’ve owned at one point, but was happy to trade them in for a bigger key.

    It’s not about love. It’s about economics.

  7. Charlie, I agree with everything you said except your last line — because economics in comic collecting IS marketplace love. I guess it’s like Mike said about TOS 48, over street doesn’t undervalue them, the market does. You’re right, why hope when you can invest more wisely, but both books do not lack importance and if acquired on the cheap are far from the worst or least significant somewhat-key silver books one could buy.
    Maybe the two are not apples to apples, but I think they are in the same boat regardless. Of the other four you named, three are daytime soap actors, and one, Hulk 1, is deservedly the second-most valuable Marvel second appearance. I think the first green Hulk has room to run. (When you look at Marvel second appearances, they all have room to grow closer to the AF15/ASM1 ratio, granting that ASM1 should top the second appearances, but that’s another discussion.)

  8. The “demand” portion of economics certainly can be interpreted as “love” but the marketplace has many other factors that drive it, such as quantity, trends and speculation. For example, Star Wars #1, 9.8 was trading at $500 to $800 prior to Force Awakens. Suddenly, the movie pushes it higher, topping out at over $3000. Does this mean that more people fell in love with this book because of the movie? Possibly. But then after the movie, the books value declines, currently just barely hanging on at the $1000 mark. Does this mean that people have fallen out of love all of a sudden? Probably not. In reality, the book most likely gained more emotional appreciation but clearly there were other factors at work here. Yes, Star Wars is an obvious and extreme example but it does illustrate my point about market love.

    To make a finer distinction, I was referring to personal love, of course, for a particular book. No one can deny you your interests. Dennis often writes about his love for a certain creative or specific books and I’m happy to read many people rally around this shared sentiment. But when we are talking about spending thousands of hard earned $$ for a piece of commercial print, where the average household income is only about $70k, we are in investment territory. My goal is to help readers become more informed so that they don’t lose 2/3 of their $3000 purchase and we do this by being clear about why and what we are buying. Rouge One is getting fair reviews, so I’ve got my eye on this book but it seems to be having no effect thus far. Perhaps because its a side story?

    I like DD#7 as well and I have no quarrel about it’s significance. However, I tend to group my loved books as VG reader copies, and investment books as high grade or CGC books that I set aside to appreciate.

  9. THAT makes perfect sense to me, Charlie! There is marketplace love and personal love (of comic books) and both can change, albeit marketplace usually more rapidly. Your Star Wars example isn’t extreme, I think it’s spot-on.
    I can agree DD#7 is far from the safest investment bet; I’m just saying it’s the most significant DD after #1 and worth keeping an eye on.
    Pulling back, what’s perhaps more amazing is the fact that a silver age book of its level of significance is not a slam-dunk blue chip in an era of such escalation for the mega-keys. I just picked up a Journey into Mystery #84 before coming home, and while I have a belief that Marvel second appearances for the first-wave big guns of the silver age are all undervalued (except maybe Spidey #1) I can’t believe how far under guide JIM 84 is transacting lately. I could be wrong, but with the likes of DD#1 and Sgt Fury #1 at 5 figures in high grade, I would think people with a comic-investing collecting mindset that cannot afford them have got to turn to something else in that sweet spot four-figure price point. Just thinking out loud; not really sure but taking my shots, though not with daily living money!

  10. Emotionally, there is a lot to love about DD#7, which is why I was bidding on the 9.2 during the CL auction. And I was ecstatic when I won it way under market value at the time. But as you say, not all books are slam-dunk, even amongst SA keys. In the short time that I’ve been investing in comics, I find the market becoming more polarized. Buyers are gravitating toward 1st appearances in a big way. This narrow, single minded approach to buying doesn’t make for an interesting collecting experience. Many buyers are missing out on books like DD#7 and, as you’ve noted, 2nd appearances such as JIM#84. But it seems to be the current trend so I’ve modified my own buying habits accordingly, making the distinction between my personal collection, comprised of (VG) books I love versus books I invest in. I own 10 copies of books like Hulk #181, not because I think it’s such a great book, but because the market seems to love it and many are willing to pay a premium for it. Boring, yes… but I refuse to lose money like I did during that CC auction. That’s when I decided to take matters into my own hands and started selling on eBay, doing my own research and seeking information based on actual observation versus what I’m told by people who have a vested interest in the hobby.

    Spidey #1 is an interesting book. It was a HUGE book when I was a kid but these days, not as much. Many people here have stated how #1’s are meaningless and yet these same people are happy to prop up books like Doctor Strange #169 or Thor #126, which they see as the start of a new title. If there ever was an overvalued contender, for me, it would be these two (and other books like it), where the only significance seems to be an adjustment to the header, which is basically what people were calling it anyways at the time, but for classification purposes, with so many similar titles, the market has had to make this distinction. Weather JIM is taken off of Thor, it’s still a direct continuation of the series, where as Spidey #1 is a true start.

    MIke wrote that IM#1 was overvalued, one of the reasons being that it was a continuation of ToS#99. I think where IM#1 differs slightly is that it represent a moment when it was decided that IM was popular enough to hold his own title. YES… very much like Spidey #1, after the success of AF#15. I’m sure there were other business reasons but comparatively speaking, there is no rationale for DS#169 or Thor#126 beyond it’s natural evolution.

    Okay… I’m typing to much again. I’ll stop here. But my point is, if Thor#126 has any value for being a title change or a restart, so should #1’s. Cheers!

  11. Hi Charlie,

    You have a point there in Thor #126. I think it gets love for the Thor/Hercules battle and battle cover and it was the first title to officially officially switch over more than two years prior to the re-launching of the other titles. It is a tougher book to find than all of the re-launches in grade.

    Your Doctor Strange # 169 companions are Captain America #100 and Hulk #102 which also carried on the numbering from the previous series they were in Tales of Suspense and Tales to Astonish. Iron Man #1 could have been #100 instead of Cap, and like you said I have no idea what the rationale for what character / got the #1 in the re-launch phase. It certainly makes for a lot of debate ^-^!

  12. I think if Thor #126 was talked about as a “battle” issue, I’d be more on board, much like how FF#112 has more value than the books around it. At least it’s not an “Uncanny” X-Men #114. I don’t think that adjectives were initially intended to be part of a books title till the late 80s when multiple redundant titles were being churned out. Again, I blame the “mini-series”. If a header adjustment is important, then perhaps JIM#104 should be noted as well, for being the first JIM to use the classic Thor logo much more prominently then the JIM header. At this point, I’m pretty sure that people were calling this book “Thor” anyways. All very debatable… Have great weekend Mike!

  13. Mike and Charlie, there’s a great debate on the cgc boards about which is the SA Aquaman key, Adventure #260 or Showcase #30, with it seems to me to be indicating way more support for Showcase #30 with most supporters articulating the argument that the first time a character earns its own feature book is a key. I’m starting to guess that #1 or no, many see the “name change” shifts as further indicator/establishment of a character’s significance.
    I think it’s the same market argument here. The market does seem to varying degrees to like these books as keys, but parsing the hierarchy of the SA Marvel name change keys (after Iron Man#1) does get difficult. Easy to love as collectibles, a little more nervous-making as investment comics.
    Charlie, just curious… have you hedged the 10 #181’s with a few 180’s? I go back and forth on whether 180 is undervalued and will one day take off, or whether I should dump my Jimmy Olsen 134’s and load up on Forver People #1’s while they are still relatively cheap….my head hurts….

  14. At one point, #180’s use to be more prized than #181’s. I guess anything is possible but I doubt demand would reverse back to how it used to be any time soon. I’m closing in on being 50. Average male lifespan is about 70 years. I don’t have time to wait for big changes like that. I’ll elaborate on this in a future write up.

    Cameo vs full appearance can also be an area of contention. As it stands now, Jimmy Olsen #134 appears to be the bigger book. Personally, I wouldn’t load up on either book, unless I spot one way below market. Instead, I would prepare to sell these as soon as Darkseid has been confirmed and cast. Like Star Wars #1, you can always buy it back again at 1/3 of your sell price. I previously commented that I’m not big on villains. You may want to look up past sales stats on books like Av#55 as a frame of reference.

    My vote is for Adventure #260… but only because it’s the one that I currently hold ^_^

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