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April 2, 2015: Vintage Copy of "Action Comics #1" Sells for $658,000
A CGC-certified 5.0 copy of Action Comics #1, the first appearance of Superman, sold for $658,000 at New York-based online comic book auction house ComicConnect.com on Tuesday, March 24, 2015. There were 73 bids on the offering.
The consignor had purchased the copy in 2010 for $436,000.
The company ascribed at least some of the increase in price realized to their highly publicized 2014 purchase of the CGC 9.0 white pages copy of Action Comics #1 from Pristine Comics on eBay.
“Our purchase of the $3.2 million Action Comics #1 CGC 9.0 was a four color tsunami in the vintage comic book industry,” said Rob Reynolds, the company’s Director of Consignments.
He said they believe that their record purchase affected not just copies of Action Comics #1, but also the market for other early Action Comics issues and even other titles as well.
“Our expectations were truly blown away with the $658,000 hammer price,” Reynolds said. “And the consignor was thrilled with the return on his investment after his 2010 purchase at $436,000. Also, this is actually the ‘Superman Saves the Day’ book that generated headlines around the world when the initial sale saved a family from foreclosure during some of the worst of the recession.”
Additional titles and sales in the auction included Action Comics #2 CGC 9.4 C $92,111, Action Comics #13 CGC 8.0 $102,001, Archie Comics #1 CGC 6.5 $61,000, Batman #1 CBCS 3.0 $41,166, Avengers #1 CGC 8.5 Signature Series $21,500, Amazing Fantasy #15 CGC 6.0 $27,000, and Captain America Comics #1 CBCS 4.5 R $22,200.
