Hot Comics #68:
Batman 232, 1st Ra's al Ghul

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Why Batman 232 is a Hot Comic

2020 MARKET UPDATE: HEADS OR TAILS?

Batman 232 is much like most DC comics this year; up in some grades but down in others.

It's also a little less hot this time around.

What to Invest In

2019 MARKET UPDATE: 100 HOT COMICS NEW ENTRY!

Batman 232 is one of the DC Comic superhero's great back issues.

For a couple of years, Neal Adams was the hottest vintage artist, and all his back issues were in huge demand.

As usual, it was over-done, and prices across the board have fallen -- especially Detective Comics #400, which has dropped out of the Hot 100 list this year.

There are some compelling reasons to recommend a few of them this year, and Batman #232 is one of them.

The first reason is one I've already touched on. Adams' rendition of the evil Ra's al Ghul is a classic one, and in a hobby focusing more and more on cover art, this is a decent candidate for the top 10 Neal Adams covers.

The second reason is the first appearance of Batman's great foe. Ra's al Ghul has already been featured in movies, of course, so there seems little 'movie upside' in the price.

Finally, being hard-nosed about it, there is the price. Some of the profit-taking has been over-done, and now some grades are looking like a steal.

Lower grades have still seen falling prices, and even now this book is a hard one to predict.

Certainly other DC comics are cold as ice (even the first appearance of Mr. Freeze in Batman #121). If you spent big money investing in DC key issue comics in the past 18 months, then you're in the hole, big time.

CGC 9.6 has dropped in price by more than $500 in the past two years. With a difference of only $150 between the last 9.4 and 9.6 sales, that is where I would invest.

If you can't afford a $2,000 punt on this book, then the relatively affordable last sale of $585 for a CGC 8.0 would be a good alternative.

Here are some sales in other grades:

• CGC 3.5 $199
• CGC 4.5 $214
• CGC 5.0 $304
• CGC 6.0 $400
• CGC 7.0 $368
• CGC 9.0 $906

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