11:44am PT by Sarah Nechamkin
Copy of 'Action Comics' No. 1 Sells for Nearly $1 Million
Superman flew off the auction block faster than a speeding bullet Thursday.
A highly coveted copy of Action Comics No. 1 from 1938, featuring the first appearance of Superman, sold for nearly $1 million at the public Heritage Auctions in Dallas, surpassing its $750,000 estimate by bringing in $956,000.
“As the bidding went higher and higher we were grateful bidders recognized this copy as the gem it truly is,” said Lon Allen, Managing Director of Comics and Comic Art at Heritage. "Few copies of this comic survive, let alone come to auction with such a bright cover. It displays beautifully."
Originally costing 10 cents, the June 1938 edition of Action Comics No. 1 came from an East Coast comic book aficionado who purchased it in the ‘90s for $26,000. Only about 100 copies of the issue remain today.
While the nearly $1 million price tag might sound exorbitant, it's hardly the highest a copy of Action Comics No. 1 has sold for. This copy, which the auction house says was unusual for its grade, was graded 5.5 by Certified Guaranty Company out of a possible 10. In 2014, what is believed to be the finest quality copy of the comic in existence sold for a record $3.2 million. The previous record holder was a copy of the comic owned by Nicolas Cage, which was sold for $2.1 million in 2011.