If you’re new to comic book collecting you may have heard the term “comic spec” being used by sellers online or in-person at conventions and shows. Unfortunately, this term can be a bit confusing to people new to the hobby, and even veteran collectors may disagree on the definition. All of which begs the question: what is a comic spec?
The short answer is that a comic spec is any issue that’s suddenly sought after by collectors who are betting that it will dramatically increase in value. This means a potentially high risk, high reward situation for speculators.
There are, however, a few other important criteria to consider when it comes to these unique comic book types. Below are a few things you need to know before you add one of these issues to your collection.
What Makes a Comic Book a Spec?
There are multiple reasons why a comic can suddenly become a spec, and even amongst the community there is debate as to whether or not a particular issue is indeed even a spec at all. In general, however, there are three reasons most issues end up being sought after.
1. A Film or Television Announcement
This is probably the most common reason a certain comic becomes a spec, with studios announcing a major film or television project. A good example of this is Thor #1 from December 2014, which marks the first cover appearance of the Jane Foster Thor. This issue barely registered on the radar of most collectors until it was announced by Marvel Entertainment that Jane Foster would appear in the Thor: Love and Thunder film. Prices soon began to climb, with speculators hoping to cash in on the hype. Online chatter suggests that a possible Jane Foster Thor spin-off Disney+ series may also be in development, which has further fuelled speculation for the book.
Similarly, Captain Carter (an alternate reality version of Peggy Carter infused with Captain American’s super solider serum) appeared in the Disney+ What If…? animated television show and later made a guest appearance in Doctor Strange and the Multiverse of Madness. Since then prices have increased for Captain Carter #1 (which was published in March 2022), with some speculators betting that she’ll appear in future film and television properties.
Another example of a spec book is Black Hammer #1, a popular Dark Horse indie superhero comic that was optioned in 2019 as a possible film/television project. Of course, only a small number of optioned comics end up actually being produced, but if a Black Hammer movie or TV show ever does get made, this book could see a significant increase in value for speculators who have purchased it while prices are still relatively low.
2. Online Rumors
In some cases there may be unconfirmed online rumors about a comic being optioned as a film or television property. A good example of this is The Invaders #20 from 1977, which features the first full appearance of the second Union Jack. Unsubstantiated online rumors claim that this version of Union Jack is coming to the MCU (although Marvel has not officially announced anything). This chatter alone, however, has been enough to fuel speculation and driven up prices for the book. If the rumor is true this book could see a dramatic increase in price. If on the other hand, nothing ever happens with Union Jack, the book could simply remain a minor key and prices could remain the same or even see a drop.
A similar situation has occurred with New Avengers #40 from 2008. A number of social media users have claimed that Game of Thrones star Emilia Clarke is going to be cast as ruthless Skrull Queen Veranke. Again, Marvel has not confirmed anything (besides the fact that she is appearing in a future project), but the rumor alone has been enough to drive up costs among collectors and speculators looking to eventually flip the book.
Yet another example, is The Punisher #219, which marks the first appearance of the War Machine version of the Punisher. Supposedly it was overhead at Boston Comic Con that actor Jon Bernthal (who played Frank Castle in the Netflix series) will be returning to the MCU in the Punisher War Machine armor. Again, this rumor has caused prices to spike, but the book could easily see a decline if nothing happens or if Marvel weighs in on the rumors.
3. Pure Speculation
In some cases, a comic book becomes a spec simply because collectors are betting that at some point in the future there will be a major announcement (often making these issues more of a case of wishful thinking than anything else).
A good example of this is Batman #6 from 2012, which features the first full appearance of the villainous Court of Owls. An incredibly popular comic book run at the time, speculators are now betting that the Court of Owls will appear in a future DC film or television project (despite there being no major announcement from Warner Bros.).
Similarly, Strange Academy #1 has become extremely sought after among collectors, both because of its fascinating premise (Doctor Strange opens a school for young sorcerers and magical creatures) and also because speculators are betting that Marvel will eventually adapt the book to the big or small screen.
Yet another example is Uncanny X-Men #120, which features the first cameo of Alpha Flight. Again, speculators are hoping that the Canadian superhero team will eventually appear in the Marvel Cinematic Universe, making this a sought after book among collectors.
Comic Specs vs Comic Investments
It’s important to note that a comic spec differs from reliable investment books. For example, Amazing Spider-Man #300 (which marks the first appearance of Venom) is NOT a spec comic book. That’s because it’s generally considered a blue chip comic book investment that has consistently and reliably grown in value over the years. If you purchase an ASM #300, you can likely expect it to increase in value, allowing you to make a small, but solid return on your investment. In other words, the risk and reward are fairly low.
A spec book, on the other hand, features a greater risk and potentially a greater reward. Buyers are essentially betting that at some point a particular book will be worth significantly more than it is now. A good example of this is West Coast Avengers #45, which features the first appearance of the “White Vision”. For years, this book was largely ignored and often even found in dollar bins. That is until the Disney+ WandaVision show featured the White Vision. Prices soon skyrocketed shortly after the show ended, but then dropped again as the hype died down. Yet today some speculators are still betting that the White Vision will reappear in the MCU and are willing to pay a hefty price tag for a book that was once worth very little.
Additional Spec Considerations
- Timing: As with so many things in life, timing is everything. Snapping up a comic for a few bucks before the hype begins can net a tidy profit if you decide to sell the book later on. At the same time, if you hold onto a book for too long, prices could potentially drop below what you paid.
- Hype: FOMO (Fear of Missing Out) is a huge problem among the collector community. With rumors running rampant, there’s a lot of pressure to snap up books before they rise in price. That being said, often it pays (literally) to be patient and snap books up for cheaper after the hype had died down and there are countless books that have crashed and burned after a massive spike.
- Reception: After a television show or film is released, there’s often a drop. Sometimes this drop can be incredibly steep. This is exactly what happened to Preacher #1, which became a hot spec when the AMC television series based on the comic was first announced. When the show turned out to be a major dud, however, and was poorly received by fans, critics and the general public, prices dropped back to earlier levels. This often means that the best time to sell a book might be right before a new TV show or movie is released. Of course, the adaption could be a big hit in which case your book might shoot up in value. Again, the high risk and potentially high reward is at the heart of comic book speculation.
Final Thoughts
So there you have it, our answer to the question: what is a comic spec? Is there anything you think we missed? Let us know in the comments below.
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