Here's an interesting column from Newsarama.
It seems that as stocks are plunging,
somebody is investing in back-issues of comics.
Here's the sort-of interesting thing about Back-Issues. Theoretically, there's a limited and dwindling supply. There are only so many copies left in existence of, say, "Jimmy Olsen #134". Unless someone finds a comic miser with an endless warehouse where he's keeping literally hundreds (maybe thousands) of copies of the comic, the rarity of the comic is part of the price point. You cannot grow or mine more Jimmy Olsen #134. You cannot manufacture more Jimmy Olsen #134. One thing that can decrease is the number of people who want a copy of Jimmy Olsen #134.
And, of course, copies of Jimmy Olsen #134 are deteriorating. They are being kept off the market by Jimmy Olsen collectors. They are being destroyed as comic shops suffer damage in hurricanes and floods (Houston's Westheimer location for the superlative "Bedrock Comics"
took a huge beating during Hurricane Ike, in which a HUGE portion of their back issue stock was destroyed.)
In theory, then, Silver Age comics, in particular, hold value pretty well despite tumultuous economic times, and are much more likely to go up than down in value.
What we know now, versus what we thought in the mid-90's, is that not every issue is a collector's item. No matter what sort of holographic cover, or trading card is stapled inside, a bagged and boarded comic is only a bagged and boarded comic of, at best, dubious value. Only time will decide what is a collector's item.
But, before you throw a stack of comics in the recycling, as I did circa 1999, check to make sure none of them are worth $100, as I later learned one of my comics was valued(Lady Death #1). Go figure.*
Anyway, its interesting to hear investors are making a run on Silver Age comics. I don't have much in the way of a Silver Age collection as its very cost-prohibitive, but compared to a single share of, say, Initech, it's not that bad. It's just not going to make you a profit so much as be a fairly safe place to put your money for a while. Off the market, the comics will probably retain value (especially Silver Age, which is a very different market than modern or Bronze). Like anything else, however, if the investors re-flood the market... it's going to drive costs down. Which is nice for the collector, but for the dealer, its not going to be great.
That's not to say that those misers aren't out there with warehouses full of comics. They darn well may be. You hear a lot about estate sales where comics come up, and it can be anything from a shoebox full of moldy Archies to a storage space full of Silver Age classics. And, I hate to say it, but as collectors die, need a cash influx, etc... those collections will continue to rotate to some degree.
I don't lose a lot of sleep over it, but I do worry that if I croak tomorrow, Jamie and my parents are going to just drop off my whole collection in a dumpster behind Target. At minimum, I'd hope they would drop everything off at Austin Books so SOMEBODY could make a profit off the collection (note to Austin Books... that's a respectable run on New Gods and Mister Miracle... throw them a few bucks in the case of my untimely demise, okay?).
Unlike stocks, T-bills and pork bellies, there's not too much of a regulatory commission for the value of comics. So its something of a pure economic model. Find the price point of a back-issue by whether or not you can actually sell it to somebody (anybody) at that cost. Supply and demand in its simplest form. And maybe that's why so much of the back-issue market has gone to eBay, where you can see the transaction in real time. Kind of fascinating. But, as a total pain for the retailer, its done on a literally comic-by-comic, or run-by-run basis. And that's a lot of work to manage. Thus the built in S&H fee on so many comics.
*The comic is no longer worth that amount, but hit that selling point about seven years ago.