ORIGINALLY POSTED MARCH 15TH 2009
Action Comics # 1 featured the first appearance of Superman and has been recognized by historians as the beginning of the modern-day comic book superhero.
The book was published in 1938 and cost 10 cents.
A high-grade original copy of this comic book closed in auction this past Friday evening selling for $317,200.00
The winning bid was placed by John Dolmayan, drummer of the band System of a Down, on Friday evening, on behalf of an unidentified client.
This is one of the highest prices ever paid to date for a comic book.
Not to say see I told you so but anyone in my family can attest to the fact that years ago I predicted at many a dinner table discussions that a high-grade golden age key issue comic books would hold up better in a down market than any stock.
I stand to be corrected. Notice I said Golden Age and Key Issue.
Further more this is why I love Superman because not only can he do anything in Comic Books but he can also do anything outside of comic books. Many people dislike superman for the fact that he cannot be killed. But it is true he can’t be. The character is now more than 70 years old and he will be around long after you and I are far gone.
UPDATE POSTED MARCH 2010
Since the time of my original note posted on March 15th 2009 another issue of Action comics # 1 sold recently for exactly $1,000,000.00 dollars this is LESS THAN A YEAR LATER and in the middle of an ongoing economic recession. Then following month March of 2010 another copy of Action Comics # 1 sold for 1.5 million.
I can’t even count the number of people who have laughed at me when I have told them time and again for years that Key Issue Golden Age comic books will out perform, any stock, real estate, silver, yes even GOLD (and I am a big fan of investing in both Gold and Silver). And yes people have literally laughed at me an as if I am completely crazy for making such a statement. All I have to say to every one of you who have ever rolled your eyes or chuckled in any condescending manner what so ever is “BOYAAA! I told you so!”
Of course all the financial advisors are now saying that this is a record that will not be surpassed for some time. However the same thing was said last year when several Golden Age Comic books (All Key Issues) Surpassed the 1 million dollar mark.
The proof is in the history it will be a short time and I will be updating this note again with books selling for even greater prices. Yes you would be wise to sell off your 401K and buy Golden Age Comic Books as Crazy as that Sounds! Get rid of your financial advisor who does little more than leach off the success of others give wall street the middle finger and start investing in real commodities.
UPDATE POSTED DECEMBER 1st 2011
Action Comics #1 Sells for 2.16 Million! Creating a new record for the most money paid for a comic book. All I have to say is “BOYAAA! I told you so!”
UPDATE POSTED AUGUST 25th 2014
Action Comics #1 Sells at auction on ebay for $3,207,852. Another record! I’ll admit it, I didn’t even think the book would go this high this fast. But am I shocked? No I’ve been following the sales of Golden Age Comic books for years. The physical scarcity of this comic book and the demand for it is actually real. I believe a copy of Action Comics 1 will surpass 5 million in my life time. Now here is a word of caution I have a small suspicion that Chuck Rozanski of Mile High Comics has several ungraded pristine copies of Action Comics Number #1 sitting in a vault somewhere. In fact I’ve heard rumors that he’s got one half of a short box full of them and should he suddenly flood the market with those books the price could drop exponentially. However these are all unconfirmed rumors.
