Action Comics #1 – First Superman comic goes on auction

February 27, 2009

(ChattahBox) — And now for some important news. The ultimate comic book goes up for sale today. An “unrestored” (photo left) copy of Action Comics #1 (1938), the first appearance of Superman (and Lois Lane too), is expected to sell for $400,000 or more at auction today. I once owned Action Comic #17, so I am totally into it (don’t judge), but I won’t be bidding because I am poor. Comic Connect is hosting the auction on behalf of an unnamed seller. Only about 100 copies of Action Comics No. 1 are known to exist, and they seldom come up for sale.

CNN reports on why this comic book is so unique:

“Of the 100 existing copies, 80 percent have been restored, but people want an untouched copy,” Fishler said. The book is listed in “fine” condition, a six on the 10-point rating scale.

“It’s the Holy Grail of comic books,” Fishler said.

Co-created by Jerry Siegel and Joe Shuster, the comic book first appeared on newsstands for 10 cents a copy in June 1938.

Nearly 12 years later, a young boy on the West Coast found himself in a secondhand book store, where he persuaded his dad to loan him 35 cents to buy the comic book.

Until 1966, the owner forgot about the book, which was hidden in his mother’s basement. Since then, he’s been holding onto it, hoping to see it increase in value, Fishler said. He has not been disappointed.

“There has been a lot of interest shown on the book in the collectibles market,” said Fishler, who predicted the comic book will sell for about $400,000. But, he added, no minimum price has been set for the auction, so “whatever it sells for, it sells for.


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