$1,000,000 Sale of Action Comics #1 CGC 8.0 Shatters Record

Posted: 2/23/2010

Unprecedented sale sets new record and becomes first seven-figure book; Comic book to be displayed in New York City showroom.

ComicConnect.com, online auction/consignment sites, just sold an extremely rare, top-condition copy of the world’s most coveted comic book for exactly $1,000,000. That figure is more than three times higher than the prior record-sale of an Action Comics #1, also set by ComicConnect.com.

Action Comics #1 CGC 8.0
Click image to enlarge.

That comic book, of course, is Action Comics #1, which marked the debut of Superman in 1938. This particular copy has been in a private collection for more than 15 years, and it’s likely to disappear again once it’s been turned over to its new owner. However, ComicConnect.com has arranged a viewing in the New York City showroom that it shares with its vintage comic book dealer affiliate, Metropolis Collectibles.

"It’s the Holy Grail of comic books," says founder Stephen Fishler, one of the leading experts on collectible comics, "Before Action Comics #1, there was no such thing as a superhero or a man who could fly."

"Action Comics #1 is the most important comic book as it ushered in the age of the super hero." adds ComicConnect.com co-owner and COO, Vincent Zurzolo, "This particular copy is one of the top two ever graded. CGC certification removed any question about the exceptional quality and rarity of this book, allowing it to realize its full market potential."

Only about 100 copies Action Comics #1 remain in existence, and of those 100, only two have been graded by CGC 8.0 or higher. This particular book is one of them, making it among the rarest of the rare. Up until now, the top price from an Action Comics #1, this one with a grading of 6.0, which sold on ComicConnect.com for $317,200 in 2009.

Until last week, some collectors weren’t aware of the existence of this million dollar copy. Fishler, however, knew it well, because 15 years ago, he sold it for $150,000.

But why the big jump in price?

"High-grade copies are rarely, rarely offered for sale," explains Zurzolo. "When they do come on the market, you can expect to see a big leap in value. 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’t think it would happen so soon, particularly given the current state of the economy."

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 – something most experts believed would never happen.

"Is it worth it?" says Fishler. "Absolutely. There is nothing else like it."

For more information, visit ComicConnect.com.




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