ComicSpace is already turning out to be a neat little earner for its founder Josh Roberts. Indeed, looking at those bids, one can't escape the conclusion that, strange though it may seem, some webcartoonists have entirely too much money.
But I'm pretty sure that once the hype dies down, the ads on there will be worth pretty much what people bid on them. Project Wonderful is a nearly perfect model of capitalism*): accurate information is available to all parties, there's no friction in the form of, say, a labour force needing to be fed and kept safe, and the parties involved are self-interested (read: vain and greedy) enough not to let an undervalued ad go un-bid, while also being rational (read: cheap) enough not to pay more, in the long run, than an ad is worth.
That being said, I think my own ad spots are still being undervalued compared to those on other webcomic sites with thousands of page impressions a day. I still seem to suffer from low visibility, possibly as a result of having been around so long.
The trend is up though; yesterday, my income passed the $2/day mark for the first time, putting it close to my short-term aim of making $3/day. Peanuts compared to what Josh is earning, I know, but that site is very visible right now and serving up tens of thousands of page impressions to people who are nuts about webcomics. I'm beginning to think that my next goal, of making $ 10/day through advertising, might be reachable. That would be the point where I'd be able to free up time to work on Rogues of Clwyd-Rhan. I do that anyway, but whenever I work on the comic, these days, I feel a twinge of guilt for not working on something that pays the bills. $10/day would put the webcomic on the same footing as my single biggest client, so that guilt, that feeling I'm slacking off from something more urgent, would, I think, go away.
$30/day would allow me to work on ROCR as my main project, reducing the others to sidelines. No, really. I could do it. I'm very, er, rational. All right, cheap. So bid on those ads if you want to support me and have a website that needs some more people looking at it.
*) But not quite: apart from the hype factor, participants in the market also come to it from vastly different pre-existing initial situations: some have hightly popular websites, including some where the popularity reflects past merit rather than present and can be said, for the purposes of the model, to be inherited. There is a real risk that PW ends up causing money to flow overwhelmingly from small webcomics sites to large ones, on the basis of these pre-existing conditions. Arguably, ComicSpace is one of them, because it had a huge advantage in the form of the user base of its predecessor, Onlinecomics.net.