Jim Lee DC 60 days of sketches - Pics, final prices, and running total funds raised

[boibleu22]

Originally Posted by MrYac

so with all the crap going on at DC what do you guys think the odds of these things ever actually being used as covers are?

Jim Lee has recently come out and said that they will no longer be used as covers.

Originally Posted by Demona

I thought we found information that they did get a tax write-off.

They do get a tax write-off, but you have to understand how it works to understand why it's such a stupid reason.

You can write off the amount, but ONLY a certain amount, and Jim has come out and stated this.

The amount you CAN write off is the amount that you paid OVER the market value. How or where the market value is calculated, i have no idea.

But it's assume someone paid 8k for one of these 9x12 images.

If we look at his commission rate as his market value, than a commission 7k, than you can only write off 1k of that 8k you paid.

And what does a tax write-off do? It lowers your taxable income. If you make 250k a year, than that write-off makes your taxable income 249k.

32% of 250k is 80,000.
32% of 249k is 79,680.

Note: i don't know ---- about taxes, so if I have something wrong about what a tax-write off is, please let me know. That's just my quick understanding of it.

[BigLeagueChu]

Originally Posted by boibleu22

Jim Lee has recently come out and said that they will no longer be used as covers.

Where did he say this?

[SONICobra]

dang that would suck, a lot of those pieces are gorgeous and id be over the moon to own the several of them. but i gotta tell ya id be a little pissed if i had spent huge bucks to buy advertised original cover art only for it to turn out not being on a cover

[Subby1938]

Well if that’s true I’d be seriously pissed because a lot of this art was bid up high in anticipation of them being covers . If it’s true it was all a lie. Not cool at all charity or not!

[Iko Iko]

Agree. If I was paying $10k with the expectation it was going to be a cover and now it isn't, I'd be pretty frustrated. While the intention was good, it seems as if Jim was too aggressive with this project. I mean, he could have done 30 prints instead of 60 with some more heavy hitters and raised almost as much money.

[Subby1938]

If he opened up and did Marvel as well it would have made even more money imo. Why limit yourself if it’s for charity ?

[mmk123]

I wonder if he even approached Marvel about that or if he did maybe they said no.

And with his position at DC was probably just much easier for him to have his pic of the DC characters where there might have been less legal paperwork to have to go through

[nbr3bagshotrow]

Originally Posted by boibleu22

Jim Lee has recently come out and said that they will no longer be used as covers.




They do get a tax write-off, but you have to understand how it works to understand why it's such a stupid reason.

You can write off the amount, but ONLY a certain amount, and Jim has come out and stated this.

The amount you CAN write off is the amount that you paid OVER the market value. How or where the market value is calculated, i have no idea.

But it's assume someone paid 8k for one of these 9x12 images.

If we look at his commission rate as his market value, than a commission 7k, than you can only write off 1k of that 8k you paid.

And what does a tax write-off do? It lowers your taxable income. If you make 250k a year, than that write-off makes your taxable income 249k.

32% of 250k is 80,000.
32% of 249k is 79,680.

Note: i don't know ---- about taxes, so if I have something wrong about what a tax-write off is, please let me know. That's just my quick understanding of it.

You can only write off if you itemize deductions and then only if your deductions are more than the standard deduction.

[Subby1938]

Originally Posted by mmk123

I wonder if he even approached Marvel about that or if he did maybe they said no.

And with his position at DC was probably just much easier for him to have his pic of the DC characters where there might have been less legal paperwork to have to go through

It’s odd to me as an artist you can’t draw what you want ? I mean the money was being given away so....

I’m sure there was good reason it would have been cool to see him do a whole bunch of diff characters .

[mmk123]

Originally Posted by Subby1938

It’s odd to me as an artist you can’t draw what you want ? I mean the money was being given away so....

I’m sure there was good reason it would have been cool to see him do a whole bunch of diff characters .

I wouldn’t think that it would matter either since it is going to charity but you just kind of never know about the inner workings and the politics involved

I think it would’ve been nice that if both DC and Marvel would have worked together and maybe had Jim Lee do drawings and whoever marvel considers to be one of their top artists do drawings as well all for the same charity