"Quick, Robin! To the Batcave! To dig through our old boxes of comic books!"
PHILADELPHIA (AP) — A rare and pristine copy of the first issue of Action Comics, famed for the first appearance of Superman, has set a record Wednesday for the most money paid for a single comic book: $2.16 million.
The issue, graded at 9.0, was auctioned starting Nov. 11 online at www.comicconnect.com . The starting bid was just $1 but there was a reserve price of $900,000. Neither the name of the buyer nor seller was disclosed.
It's the first time a comic book has broken the $2 million barrier. The issue was published in 1938 and cost just 10 cents. . . .
The previous record set in March 2010 was followed by the sale of another copy for $1 million. But neither of those issues was in as good a condition as the issue that sold Wednesday, though it's pedigree of setting records was already documented. Twice before it set the record for the most expensive book ever, selling for $86,000 in 1992 and $150,000 in 1997.
But in 2000, it was stolen and thought lost until it was recovered in a storage shed in California in April this year.
About 100 copies of Action Comics No. 1 are believed to be in existence, and only a handful of those in good condition.
After it was stolen, Fishler said, collectors figured it would never be found or, worse, would be destroyed.
"Clearly, I was wrong. Not in my wildest imagination could I have predicted that this legendary, stolen Action Comics No. 1 would be found, graded at 9.0 and break the record a year and a half later," he said.
Update: Just how does a comic book get graded? The Certified Guaranty Company explains their process here.
I collect but my oldest comics aren't worth as much, although I do have an Amazing Spiderman #4 which is in really great shape. Probably graded a 7. I feel that the CGC grading and standard of putting these comics in a sealed frame sort of takes away from true collectors like myself. They say once CGC seals a comic (like the Superman one shown above), you can never open it again or it voids the grading they give it. This practice to me takes away from what I believe collecting comics is all about, which is being able to read and enjoy them. There's a really amazing feeling to actually feel and touch, and even the smell of comics from the 1950s and 60s, just brings back a nostalgia from that era.
Posted by: Raphael | December 01, 2011 at 12:13 PM
I couldn't agree more. My oldest comic is Fantastic Four #2, but it's been loved to death. Probably would get a CGC rating of -5.
Posted by: Kevin Siers | December 01, 2011 at 01:33 PM
"Neither the name of the buyer nor seller was disclosed."
I believe the seller to be Nicholas Cage, the actor. He has been a long time comic book collector and has been rumored to have a collection worth millions. This article states how he had an Action Comics #1 stolen and it was just recently found in August of this year.
http://www.csmonitor.com/Books/chapter-and-verse/2011/0412/Nicholas-Cage-s-comic-book-is-found-but-the-thief-is-still-at-large
Posted by: Doorman Meers | December 01, 2011 at 03:39 PM
Interesting! Sounds like it could be yet another sequel to the National Treasure movies.
Posted by: Kevin Siers | December 01, 2011 at 05:03 PM
2.16 million for a comic book? Someone has way to much money and very few brains.
Posted by: ben3412 | December 01, 2011 at 06:30 PM