Action Comics #1 Graded 8.0 Sells for $1 Million
As records go, there were two. One of them will last. The other lasted less than four days.
On Monday, February 22, 2010, when ComicConnect.com sold a CGC-certified 8.0 copy of Action Comics #1, the first appearance of Superman, it was the first comic to ever sell for $1 million. It also, naturally, became the highest price ever paid for a comic.
It will always be the first one to sell in that range, but on Thursday, February 25, Hertitage Auction Galleries sold a Detective Comics #27, also CGC-certified 8.0, for $75,500 more.
That said, while it may have been a bit upstaged, it would be a big mistake to dismiss the sale as old news.
“Since he started selling comic books at age 16, Vincent Zurzolo had only dreamt of selling a million-dollar comic book,” said CNNMoney.com. “Monday was his lucky day. That was the day that Superman hit the jackpot.”
Out of the approximately 130,000 copies sold, there are estimated to be only 100 or so still in existence.
Maybe that’s why ComicConnect.com, a company Zurzolo co-owns with Stephen Fishler, was able to sell a CGC-certified 8.0 copy of the rare comic for $1 million in an all cash transaction a minute after they posted it for sale on Monday, February 22, 2010.
Fishler told the Reuters news agency that of the copies still in existence and that a scant two or three are in a similar unrestored, high-grade condition.
"If not this book, it may be 10 or 20 years before another one like it would be offered," he said.
For years top collectors and dealers have expected Action Comics #1 to be the comic that broke the imaginary barrier of the seven-figure price range. While there were published offers of $1 million for a “Near Mint” or 9.4 copy, it was even at the time believed that there would be heavy competition at that price. With the sale of this 8.0 copy, that seems likely to guaranty that should a higher grade copy ever come on the market then another new record would be set.
High-grade copies of such comics as Amazing Fantasy #15 (the first appearance of Spider-Man), Detective Comics #27 (first Batman), Batman #1, Superman #1, Incredible Hulk #1, and other copies of Action Comics #1 first broke and then sustained six-figure prices over a period of years. With this issue, as with them, condition was very important in determining the price realized.
“With only four known copies certified in higher condition by CGC, the buyer of this has made what looks to be a solid investment. Most industry experts agree that there are about 100 copies of this issue. If we’re wrong and there turn out to be 200 copies, this would still be an amazing purchase. We live in a nation of more than 300 million people and Superman is the most recognized character in the world. Action Comics #1 will always be in high demand, particularly the better the grade,” said Robert M. Overstreet, author and publisher of The Overstreet Comic Book Price Guide.
“While we do not believe that the Mile High pedigree copy of Action Comics #1 has ever been submitted for certification, and therefore there might very well be at least one higher-graded copy that could come on the market, there are to date only one 9.0 copy and three 8.5 copies ahead of this one,” said Overstreet. “Obviously there was at least one person who believed that makes this copy important.”
“Purchased for $150,000 fifteen years ago, the $1,000,000 book was part of a private collection and will most likely disappear again once given to the new owner,” Examiner.com reported. “However, ComicConnect.com will allow the media to view it briefly in its New York City showroom.”
Fisher told the BBC that the seller was a "well-known individual" in New York, someone who had a pedigree collection. He also indicated that the purchaser as also well-known in collecting circles and had previously purchased another copy of the issue.
"It’s considered by most people as the most important book," John Dolmayan, a comic book enthusiast and dealer who may be best known as the drummer for System of a Down told USA Today. "It kind of ushered in the age of the superheroes."
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Action Comics #1 Graded 8.0 Sells for $1 Million
As records go, there were two. One of them will last. The other lasted less than four days.
On Monday, February 22, 2010, when ComicConnect.com sold a CGC-certified 8.0 copy of Action Comics #1, the first appearance of Superman, it was the first comic to ever sell for $1 million. It also, naturally, became the highest price ever paid for a comic.
It will always be the first one to sell in that range, but on Thursday, February 25, Hertitage Auction Galleries sold a Detective Comics #27, also CGC-certified 8.0, for $75,500 more.
That said, while it may have been a bit upstaged, it would be a big mistake to dismiss the sale as old news.
“Since he started selling comic books at age 16, Vincent Zurzolo had only dreamt of selling a million-dollar comic book,” said CNNMoney.com. “Monday was his lucky day. That was the day that Superman hit the jackpot.”
Out of the approximately 130,000 copies sold, there are estimated to be only 100 or so still in existence.
Maybe that’s why ComicConnect.com, a company Zurzolo co-owns with Stephen Fishler, was able to sell a CGC-certified 8.0 copy of the rare comic for $1 million in an all cash transaction a minute after they posted it for sale on Monday, February 22, 2010.
Fishler told the Reuters news agency that of the copies still in existence and that a scant two or three are in a similar unrestored, high-grade condition.
"If not this book, it may be 10 or 20 years before another one like it would be offered," he said.
For years top collectors and dealers have expected Action Comics #1 to be the comic that broke the imaginary barrier of the seven-figure price range. While there were published offers of $1 million for a “Near Mint” or 9.4 copy, it was even at the time believed that there would be heavy competition at that price. With the sale of this 8.0 copy, that seems likely to guaranty that should a higher grade copy ever come on the market then another new record would be set.
High-grade copies of such comics as Amazing Fantasy #15 (the first appearance of Spider-Man), Detective Comics #27 (first Batman), Batman #1, Superman #1, Incredible Hulk #1, and other copies of Action Comics #1 first broke and then sustained six-figure prices over a period of years. With this issue, as with them, condition was very important in determining the price realized.
“With only four known copies certified in higher condition by CGC, the buyer of this has made what looks to be a solid investment. Most industry experts agree that there are about 100 copies of this issue. If we’re wrong and there turn out to be 200 copies, this would still be an amazing purchase. We live in a nation of more than 300 million people and Superman is the most recognized character in the world. Action Comics #1 will always be in high demand, particularly the better the grade,” said Robert M. Overstreet, author and publisher of The Overstreet Comic Book Price Guide.
“While we do not believe that the Mile High pedigree copy of Action Comics #1 has ever been submitted for certification, and therefore there might very well be at least one higher-graded copy that could come on the market, there are to date only one 9.0 copy and three 8.5 copies ahead of this one,” said Overstreet. “Obviously there was at least one person who believed that makes this copy important.”
“Purchased for $150,000 fifteen years ago, the $1,000,000 book was part of a private collection and will most likely disappear again once given to the new owner,” Examiner.com reported. “However, ComicConnect.com will allow the media to view it briefly in its New York City showroom.”
Fisher told the BBC that the seller was a "well-known individual" in New York, someone who had a pedigree collection. He also indicated that the purchaser as also well-known in collecting circles and had previously purchased another copy of the issue.
"It’s considered by most people as the most important book," John Dolmayan, a comic book enthusiast and dealer who may be best known as the drummer for System of a Down told USA Today. "It kind of ushered in the age of the superheroes."
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