Are Variant Covers Worth Investing In?

Spider-Man 1990 #1

It's a question that has been on every comic book collector's mind for years, and it still is as complicated to answer as any query in existence: Are variant comic book covers worth investing in?

Variant covers have been around a lot longer than many folks realize. There are several early Marvel printings and releases with 35-cent cover price variants, and everyone remembers the variant filled early 1990s of Spider-Man #1 and X-Men #1. Plus, don't forget the different cards inserted into every X-Force #1 (those bagged copies everyone loves).

X-Force Vol. 1 #1

That being said, variants are more prevalent today than they every were in the past. One pretty clear line that can be drawn comes from the sports card industry and insert cards. Seeding one in twenty five, one in one hundred, or even one in one thousand packs, those special cards draw the attention of collectors pretty quickly and the chase is on. The limited supply causes a shortage that drives prices up because demand is so high, especially for hot players.

The line gets drawn to comic books for the same reasons. Hot characters can really drive variant prices through the roof for a short period of time. However, comic books are a commodity, and prices vary~often wildly. Those one in twenty-five covers can be tough to find, those convention variants can be difficult to get, and those one in one hundred covers can be downright impossible. However, are they worth buying?

The short answer is probably a big "NO" for comic book flippers and speculators. Variants almost (note the use of the all-powerful "almost") never hold their value long-term. The market is finicky and because new comics are released every week, collectors simply can not afford (both in attention and money) to chase every variant that gets released. This creates a glut of variant inventory that has a chance to appeal beyond cover price, but often not the value paid. Basically, variants are hot for a week or so, and then they drop off fifty percent (or more) in secondary market value. Yes, the book price can remain high, simply because of dollars invested, but finding a buyer at that price is often an exercise in futility.

Secret Wars #1 Skottie Young Var

The other answer is a big fat "YES," variants are worth every penny if you want them or like them. You should collect what you like--that's really the bottom line. If a snazzy variant cover catches your eye, you should pick it up. The other aspect is that a variant cover with a key appearance, reveal, or event will likely hold value for the long-term and grow at a faster clip. However, the same rules apply to the general comic book world in general. Not every book is a Hulk #181, it's just a simple fact of life.

Take a look at the Grim Fairy Tales Jessica Nigri Cover from Phoenix Comic-Con, it has done wonders on the secondary market. Other variants, like the Skottie Young covers are legendary, but tend to cool off after a few weeks.

The answer is that there is really no clear indicator in the short term over the regular cover versus the variant. I think DC Comics does a great job of offering up two covers (or more) for the same cover price and lets collectors decide which one gets chased and which one simply hangs around.

If the book is going to be a wall book that looks great on your Deadpool shelf and you can afford it, why not spend $50 on it? If you are buying a $75 variant to flip in a month, you are likely going to find yourself disappointed or waiting a long time. It's the nature of the hobby, and it's as simple as that.