Saturday 20th December 2014,
Comic Booked

Action Comics #1 Breaks the Two Million Dollar Barrier

Comic Booked Guest Writer 12/03/2011 Features

Wonder if the original owner of this comic book had a mother say to him, “It will never be worth anything”

Wednesday, November 30th; sometime after the sun went down on the eastern coast of the Unites States, ComicConnect.com broke another record for the highest price paid for a comic book in the form of Action Comics #1. Previously they sold an 8.0 copy for one million dollars, the first comic book to sell for such an amount. A couple days later a rival auction .com sold a copy of Detective Comics #27 for slightly over that million dollar mark ($1,075,500). This book took over the record spot for a few months that was until ComicConnect once again auctioned off another copy of Action Comics #1. This one was grade an 8.5 and sold for a whopping 1.5 million dollars (C’mon say it in the Dr. Evil voice). Once again they took over the world record. All three of these books were graded by CGC and PGX has yet to have any book sell for that illustrious amount.

Once it was revealed that ComicConnect was to auction off another copy of Action Comics #1, this time a CGC grade of 9.0; the highest graded copy to date. This particular issue is famous enough since it was recently recovered by police; speculated to be lost forever.

Will another one ever surface? Will Tek27 rise to the occasion and take over the record or will The Batman be satisfied with the thought that he can kick Superman’s A$$ with some Kryptonite?

Before I went to bed and when the auction was winding down to the final five hours I noticed the bid was the same as what was reported by Fox News only a few days earlier at $1,306,000. In the amount of time I slept the book jumped to the final tally of $2,161,000, or an increase of a little over $160,000 an hour.

When an e-mail first appeared in my inbox letting me know about the future auction I guesstimated the book would sell between 2 and 2.5 million dollars. The 2.161 it sold for fell directly in that range, although I did think it would be closer to the 2.5 than the 2.

I wonder if it was an individual or a corporation who parted with their millions for this historic book and if it was purchased to be added to the registry or to be sold for a future investment.

This is a book I know I will never own. This choice of not owning this book derives not from lack of funds (for a .5 copy of which 3 CGC graded copies exist; 2 are Signature Series) but lack of desire. Of course that might change like it did for Amazing Fantasy #15. I never wanted that book until I held a CGC graded 1.8 copy that belonged to a fellow collector. I was lucky enough to be picking my books up at Wizard World 2010 at the same time he was. It was these precious few seconds that I fell in love with the idea of owning that book in any grade.

DD#1 I would like to own in a 9.0 or greater. I could care less about but having a high grade copy of Batman #232 I might consider. As a collector I wonder what type of display the Action Comics #1 will be shown off on. Will it be framed and hung on a wall? Will it be placed in the center of a room on a Romanesque pedestal surrounded by lethal lasers? Maybe it will be loaned to museums across the country or will it be placed in a safe only to be taken out and looked at on the anniversary of its purchase.

If it was purchased as an investment I wonder how many years will the owner(s) have to keep the book before they try to get a return on their investment (10,15,25,50….more?)?

In “The World According to Garp” the main character bought a house directly after a plane crashed into the upper floors. His reasoning was that all the bad stuff had already happened to the house, what could go wrong now. This book was already stolen and missing for ten years….what else could happen?

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  1. James Victor Von Hal 12/04/2011 at 1:50 am

    Wow, that is an obscene amount of money.

  2. Ortegatron 12/04/2011 at 12:47 pm

    For a rare piece of history I don't think 2 million is really outrageous.

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