There are two words I wish I could remove from the lexicon of anyone involved in the buying and selling of antiques and collectibles: undervalued and overvalued. I have long argued that these words are irrelevant to anyone involved in markets where speculation reigns supreme. Assigning value to an antique or collectible is not on par with assigning value to a stock, bond, or even real estate. Antiques and collectibles are a special asset class whose value is not attributed to cash flows and dividend payments. Yet I often have in-depth conversations with collectors, dealers, and speculators who try to explain why a particular collectible is undervalued or potentially overvalued at present time. For perspective, lets review a particular discussion I recently had with two high-profile vintage comic book collectors. Both collectors are in their 50s and have been avidly collecting comic books for 30-plus years. In that time, and due to the massive rise in prices for certain vintage comic books, both individuals will have done very well should they decide to sell their entire collections today. Most of the books in these collections are high grade and third-party graded. Any auction company that deals in vintage comic books would be chomping at the bit to get a chance to auction off these books; however, getting these individuals to consign their collections is another matter entirely. We had a friendly debate about the current state of the vintage comic book market. Assuming you have not been living under a rock as of late, it should come as no surprise that certain key issue vintage superhero themed comic books from the late 1930s all the way up to present day have been soaring in value. Outside of the earlier golden age mega keys like Action Comics #1 (first appearance of Superman) and Detective Comics #27 (first appearance of Batman), Marvel Comics have been performing better in the overall market than that of vintage DC Comic key issues. This has caused both of these comic book collectors to declare that DC Comics and mainly DC Comic superhero key issues are undervalued at present time. Ironically, neither comic collector in this discussion would dare admit that if that is the case, key vintage Marvel comic books would be overvalued in todays marketplace? Confusing matters more, I personally dont think that key vintage Marvel comics are overvalued, just like I do not believe that key vintage DC Comics are undervalued. The reason for this is twofold, so let me explain further. The current vintage comic book marketplace favors Marvel superhero key issues because Marvel is owned by Disney. Disney was the first to realize the potential value of the Marvel Comics franchise when they purchased the company in 2009. Ever since that acquisition, Disney has done a top-notch job of creating an expansive cinematic universe starring all of their popular (and in some cases unpopular) back catalog of Marvel superheroes. Along with leveraging theatrical releases every few months, Disney has also learned to leverage their own Disney Plus streaming service with original mini-series based on these same characters. Add in connective stories tying these characters to other aspects of the Marvel cinematic experience, and Disney created a fan-obsessed, never-ending universe of gripping stories that could potentially go on forever. They truly succeeded at bringing these comic characters to life, and comic collectors along with casual enthusiasts took notice. Add in a plethora of licensing opportunities and other product tie-ins, and it is easy to see that Disney created a cash cow as a result. On the other sideof the spectrum, DC Comics has also done a good job at bringing some of their popular characters to the big screen and to limited television series. Obviously Batman, Superman, Wonder Woman, and Aquaman are all excellent examples. Unfortunately, due to a series of bad decisions and setbacks, DC was unable to position itself like Disney in this regard (spoiler alert: DC Comics just canned the Batwoman movie after spending over $90 million on its development). As a result, when comparing the Marvel cinematic universe to that of the DC Comics cinematic universe, there is no comparison. Marvel has blown DC away in this regard for years. Before I go any further, I should point out that I actually like DCs Batman more than any other superhero ever created. That said, most DC Comic characters are not as zany or personality driven as some of the more popular Marvel comic characters. On the Marvel side of the equation, Iron Man is a favorite of mine. Differences aside, comparing Batman to Iron Man can be done, but most comic enthusiasts would tell you that Batman is much more dark and static than Iron Man, which is kind of ironic since Batman (and his sidekick, Robin) have always been considered the dynamic duo. I have never seen anyone go to a modern era Batman movie and expect to leave feeling warm and fuzzy. Batman is meant to be dark, violent, and gritty thanks to how he was reimagined after the campy 1960s television show that most of us know and love. That said, has any parent actually thought that any of the Iron Man or Avengers movies starring Iron Man were too dark and intense for pre-teen children to see? In conclusion, collectors need to understand that current market dynamics and factors sometimes beyond their control make and break markets in the antiques and collectibles trade. The fact that Disney has expertly crafted the Marvel Universe into what it is today does not mean key vintage Marvel comic books are overvalued. On the flip side, because DC Comics are not currently viewed as being on par with Marvel Comics in this manner does not mean that DC Comics are undervalued at present time. As I have stated multiple times, the only constant in the antiques and collectibles trade is change. And make no mistake, there will come a time when superhero movies are no longer seen as the guaranteed money maker that they are today, and when that happens I would not want to be the one holding some of these supposedly overvalued comic books. I assure you that the market is pricing them correctly at present time, and the market will always price them correctly going forward. As a result, there is no such thing as a collectible or an antique being overvalued or undervalued in the current investment hype-driven marketplace. Its just not feasible without redefining these terms. That said, speculators are going to speculate, and haters are going to hate. Until we meet again. Shawn Surmick has been an avid collector since the age of 12. He currently resides in his hometown of Boyertown, Pa., and is a passionate collector of antiques and collectibles. His articles focus on various topics affecting the marketplace.