{"id":1324,"date":"2010-02-22T20:50:15","date_gmt":"2010-02-23T01:50:15","guid":{"rendered":"http:\/\/goldenagecomics.org\/wordpress\/?p=1324"},"modified":"2010-02-22T20:55:56","modified_gmt":"2010-02-23T01:55:56","slug":"action-comics-1-sells-for-one-million-dollars","status":"publish","type":"post","link":"http:\/\/goldenagecomics.org\/wordpress\/2010\/02\/22\/action-comics-1-sells-for-one-million-dollars\/","title":{"rendered":"Action Comics #1 Sells for One Million Dollars!"},"content":{"rendered":"

\u00a0Action Comics<\/em> #1 (June 1938) is really “golden” with an 8.0 CGC graded copy selling for $1 million today at the auction site, ComicConnect.com<\/a>.\u00a0<\/p>\n

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Million Dollar Copy of Action Comics #1 (June 1938)<\/p><\/div>\n

This beautiful copy of Action Comics<\/em> #1 featuring the first appearance of Superman was a part of the Kansas City pedigree collection<\/a>, the oldest pedigree collection known to exist, and one of only three pedigree collections to contain a copy of Action Comics<\/em> #1.\u00a0 Is this too much money to pay for a mere comic book that originally sold for 10 cents?\u00a0 As with any collectible, as long as you have a willing seller and a willing buyer, any price that is agreed upon is acceptable.\u00a0 As for this particular book, it is likely one of the best unrestored specimens of Action Comics<\/em> #1 that will ever be sold, so an argument can certainly be made that “it was worth it”.\u00a0<\/p>\n

Action Comics<\/em> #1 has always been famous for ushering in the Golden Age of Comic Books with its introduction of Superman.\u00a0 Now it will also be famous for being the first comic book to break the $1 million barrier!<\/p>\n

Here’s the press release from ComicConnect.com:<\/p>\n

They said it couldn\u2019t be done. They said that no comic book\u2014no matter how rare\u2014would ever sell for $1,000,000. This week, they were proven wrong. And in the midst of a recession, no less!\u00a0\u00a0<\/p>\n

\u00a0\u00a0That\u2019s because ComicConnect.com, one of the industry\u2019s leading online auction\/consignment sites, just sold an extremely rare, top-condition copy of the world\u2019s most coveted comic book for exactly $1,000,000. That figure is more than three times higher than the prior record-holder, also set by ComicConnect.com.<\/p>\n

\u00a0<\/em>That comic book, of course, is Action Comics #1<\/em>, which marked the debut of Superman in 1938 and promptly changed the course of pop culture forever.<\/p>\n

\u00a0This particular copy has been in a private collection for more than 15 years, and it\u2019s likely to disappear again once it\u2019s been turned over to its new owner. However, ComicConnect.com will allow the media to view it briefly in its New York City showroom (873 Broadway, Suite 201, 212-895-3999). The showroom is also home to ComicConnect.com\u2019s affiliate, Metropolis Collectibles (metropoliscomics.com), the largest vintage comic book dealer in the world.<\/p>\n

\u00a0\u201cIt\u2019s the Holy Grail of comic books,\u201d says founder Stephen Fishler, one of the leading experts on collectible comics.<\/p>\n

\u00a0\u201cBefore Action Comics #1, <\/em>there was no such thing as a superhero or a man who could fly,\u201d notes Fishler, who created the 10-point grading scale which today is used universally to evaluate the condition of comic books.<\/p>\n

\u00a0\u201cIt\u2019s the single most important event in comic book history,\u201d adds ComicConnect.com co-owner and COO, Vincent Zurzolo.<\/p>\n

\u00a0Only about 100 copies Action Comics #1 <\/em>remain in existence, and of those 100, only two have received a grading of 8.0 (Very Fine) or higher. This particular book is one of them, making it among the rarest of the rare.\u00a0\u00a0<\/p>\n

\u00a0Up until now, the record-holder was another Action Comics #1<\/em>, this one with a grading of 6.0. It sold on ComicConnect.com for $317,200 in 2009.<\/p>\n

According to the Overstreet Price Guide to Comic Books\u2014the industry bible\u2014Action Comics #1 <\/em>is indisputably the highest-valued comic book of all time. In second place is Detective Comics #27,<\/em> which marked the first appearance of Batman in 1939. An Action Comics #1<\/em> graded 8.0 or higher is priced about 25% higher than a comparable Detective Comics #27<\/em>.<\/p>\n

\u00a0Until last week, some collectors weren\u2019t aware of the existence of this million dollar copy. Fishler, however, knew it well, because 15 years ago, he sold it for $150,000.\u00a0<\/p>\n

\u00a0But why the big jump in price?<\/p>\n

\u00a0\u201cHigh-grade copies are rarely, rarely offered for sale,\u201d explains Zurzolo. \u201cWhen they do come on the market, you can expect to see a big leap in value.\u201d<\/p>\n

\u00a0“I knew that someday, there would be a seven figure comic book sale, and I dreamed of being part of that historic moment. But I didn\u2019t think it would happen so soon, particularly given the current state of the economy.\u201d<\/p>\n

Imagine: back in 1938, this very comic book sold for ten cents, its sole purpose to entertain a child. 72 years later, some very fortunate adult is willing to spend $1,000,000 for the privilege of owning it\u2014something most experts believed would never happen.<\/p>\n

\u00a0\u201cIs it worth it?\u201d says Fishler. \u201cAbsolutely. There is nothing else like it.\u201d<\/strong><\/p><\/blockquote>\n