Superman's
debut comic book issue sells for $1M By JAKE COYLE, AP Entertainment
Writer Jake Coyle, Ap Entertainment Writer – Mon Feb
22, 4:26 pm ET
NEW
YORK – A rare copy of the first comic book featuring
Superman sold Monday for $1 million, smashing the previous
record price for a comic book.
A 1938 edition of Action Comics No. 1, widely considered
the Holy Grail of comic books, was sold from a private seller
to a private buyer, neither of whom released their names.
The issue features Superman lifting a car on its cover and
originally cost 10 cents.
The transaction was conducted by the auction site ComicConnect.com.
Stephen Fishler, co-owner of the site and its sister dealership,
Metropolis Collectibles, orchestrated the sale.
Fishler said it transpired minutes after the issue was put
on sale at around 10:30 a.m. Eastern time (1530 GMT). He said
that the seller was a "well known individual" in
New York with a pedigree collection, and that the buyer was
a known customer who previously bought an Action Comics No.
1 of lesser grade.
"It's considered by most people as the most important
book," said John Dolmayan, a comic book enthusiast and
dealer best known as the drummer for System of a Down. "It
kind of ushered in the age of the superheroes."
Dolmayan, who owns Torpedo Comics, last year paid $317,000
for an Action Comics No. 1 issue for a client. Others have
sold for more than $400,000, he said, but this copy fetched
a much higher price because it's in better condition. It's
rated an "8.0 grade," or "very fine."
Dolmayan said he didn't buy this copy but he wishes he could
have.
"The fact that this book is completely un-restored and
still has an 8.0 grade, it's kind of like a diamond or a precious
stone. It's very rare," he said.
There are only about 100 copies of Action Comics No. 1 believed
to be in existence, and only a handful have been rated so
highly. It's rarer still for those copies to be made available
for sale.
"The opportunity to buy an un-restored, high-grade Action
One comes along once every two decades," Fishler said.
"It's certainly a milestone."
The sticker shock was astounding to Fishler, nevertheless.
"It is still a little stunning to see 'a comic book'
and '$1 million' in the same sentence," Fishler said.
"There's only one time a collectible hits the $1 million
threshold."