Michaan's Auctions Gallery Auction
May 14-15, 2021
Published: April 14, 2021
NEW YORK CITY — Just when you think vintage comic book values cannot go any higher, another record falls. This time, an exceedingly-rare Action Comics #1— the legendary 1938 comic that marks Superman’s first appearance — has sold for a historic, record-breaking $3,250,000.
The sale was handled by ComicConnect.com, an online auction house and go-to for high-value transactions. It has sold eight comics for $1 million or more — plus more Action Comics #1s than any other dealer, it says. “Across almost every category, collectibles are on the rise,” says Vincent Zurzolo, co-owner of ComicConnect. “The vintage comic market has never been stronger, and this sale showcases how hot it really is.”
Zurzolo is well acquainted with this particular comic book, which ComicConnect sold for $1.5 million in 2010, $1.75 million in 2017, and again for $2.052 million in 2018. With its 8.5 grading (on a scale of 10), it’s the third highest graded Action #1 in existence.
Action #1 tells Superman’s iconic origin story. This particular copy has a colorful origin story, too. For 50 years, it was buried in a stack of old 1930s movie magazines. Because it was tucked inside one, it was well protected from wear. The buyer only discovered it after purchasing the magazines at an auction in the 1980s.
While the most recent seller only owned it for three years, he couldn’t resist reaping an almost $1 million profit in such a short period. As for the buyer, he’s relatively new to comic investing (this is his second major comic purchase). Before, he mainly traded non-sports cards — another increasingly hot collectible.
“With all collectibles on the rise, plus crypto currencies and NFTs minting new millionaires almost daily, we expect to see comic prices increase as they look for new places to park their money,” says Zurzolo.
“This is an 83-year-old comic book in near-pristine condition — and it’s a sight to behold,” says Zurzolo. “Not to mention, this book launched the superhero genre that’s such a huge part of our culture. There’s a reason that collectors and fans will always be obsessed with it.”
ComicConnect will continue to hold the Action #1 for a short time. For additional information, www.comicconnnect.com.
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