1st Appearance versus the 2nd Appearance

Recently I wondered if there was a ratio between the value of someone’s first appearance and their second appearance.  Does the comic book market unknowingly keep the ratio fairly consistent or vary wildly? Because there are thousands of characters I decided to limit it to characters created from 1980 to 1983.  All are significant characters and worth collecting however some are more popular now.   They are listed in ratio order, meaning that the best deals for 2nd appearances are at the top.  All values are from November 2023 and will change over time.

Great Deals for 2nd Appearances

Lobo
1st – Omega Men #3 from June 1983 is worth $130 raw
2nd – Omega Men #5 from August 1983 is worth $6 raw
2nd appearance is worth 4.6% of the 1st appearance

He-Man
1st – DC Comics Presents 47 from July 1982 is worth $260 raw
2nd – Masters of the Universe Insert from November 1982 is worth $20 for the insert alone.  See this blog post for more on the Masters of the Universe Insert
2nd appearance is worth 7.7% of the 1st appearance

Deathstroke
1st – New Teen Titans #2 from December 1980 is worth $225 raw
2nd – New Teen Titans #10 from August 1981 is worth $18 raw
2nd appearance is worth 8% of the 1st appearance

Taskmaster
1st – Avengers #196 from June 1980 is worth $172 raw
2nd – Marvel Team-Up #103 from March 1981 is worth $18 raw
2nd appearance is worth 9.6% of the 1st appearance

Average Deals for 2nd Appearances

Cloak and Dagger
1st – Spectacular Spider-man #64 from March 1982 is worth $90 raw
2nd – Spectacular Spider-man #69 from August 1982 is worth $11 raw
2nd appearance is worth 12.2% of the 1st appearance

Madame Web
1st – Amazing Spider-man #210 from November 1980 is worth $130 raw
2nd – Amazing Spider-man #216 from May 1981 is worth $19 raw
2nd appearance is worth 14.6% of the 1st appearance

Several Characters
1st – G.I. Joe: A Real American Hero #1 from June 1982 is worth $150
2nd – G.I. Joe: A Real American Hero #2 from August 1982 is worth $25
2nd appearance is worth 16.7% of the 1st appearance

Monica Rambeau
1st – Amazing Spider-man Annual #16 from August 1982 is worth $70 raw
2nd – Avengers #227 from January 1983 is worth $12 raw
2nd appearance is worth 17.1% of the 1st appearance

Elektra
1st – Daredevil #168 from January 1981 is worth $350 raw
2nd – Daredevil #169 from March 1981 is worth $65 raw
2nd appearance is worth 18.6% of the 1st appearance

Rogue
1st – Avengers Annual #10 from January 1981 is worth $150 raw
2nd – ROM #31 from June 1982 is worth $30 raw
2nd appearance is worth 20% of the 1st appearance

Jason Todd
1st – Batman #357 from March 1983 is worth $110 raw.  2 panels on 2 different pages
2nd – Detective Comics #525 from April 1983 is worth $22 raw
2nd appearance is worth 20% of the 1st appearance

Questionable Deals for 2nd Appearances

Groo the Wanderer
1st – Destroyer Duck #1 from February 1982 is worth $95 raw
2nd – Groo the Wanderer #1 from December 1982 is worth $35 raw
2nd appearance is worth 36.8% of the 1st appearance

Starfire/Raven/Cyborg
1st – DC Comics Presents #26 from October 1980 is worth $188 raw
2nd – New Teen Titans #1 from November 1980 is worth $70 raw
2nd appearance is worth 37.2% of the 1st appearance

Killer Croc (CGC cameo guideline)
CGC says Batman #357 from March 1983 is the first appearance $110 raw
2nd appearance per CGC is Detective #524 from March 1983 is worth $58 raw
2nd appearance is worth 52.7% of the 1st appearance

Dazzler
1st – X-men 130 from February 1980 is worth $225 raw.
2nd – X-men 131 from March 1980 is worth $120 raw.
2nd appearance is worth 53.3% of the 1st appearance

2nd appearance is worth 75% of the 1st appearance

Killer Croc (Comics Price Guide Cameo Guideline)
1st – Detective Comics #524 from March 1983 is worth $58 raw. This is the first time Killer Croc’s face and skin texture can be seen out of the shadows or his green trenchcoat. 
2nd – Batman #358 from April 1983 is worth $78 raw
2nd appearance is worth 135% of the 1st appearance

Based on these first sixteen characters, it looks like the ratio between the first appearance and the second appearance should be between 10-20%.  Anything below 10% is a great deal and anything above 20% should be treated cautiously.  Each of the ratios that are above 20% has a valid reason for being so high.  Number 1 issues tend to sell for more so that explains Groo and the Teen Titans.  Dazzler is still hot based on the Taylor Swift rumors which affect Kitty Pryde, Emma Frost, and Dazzler’s first and second appearances.  Killer Croc has some confusion around his first appearance and the way different companies characterize a cameo.

Let me know if you like this sort of information and I’ll expand it to other characters and years.

by Ron Cloer