A rare copy of the first comic book featuring Superman sold Monday for $1 million, smashing the previous record price for a comic book. A 1938 edition of Action Comics No. 1, widely considered the Holy Grail of comic books, was sold by a private seller to a private buyer, neither of whom released their names. The issue features Superman lifting a car on its cover and originally cost 10 cents. The transaction was conducted by the auction site ComicConnect.com. Stephen Fishler, co-owner of the site and its sister dealership, Metropolis Collectibles, orchestrated the sale. Fishler said it transpired minutes after the issue was put on sale at around 10:30 am Eastern time. He said that the seller was a well-known individual in New York with a pedigree collection and that the buyer was a known customer who previously bought an Action Comics No. 1 of lesser grade. It s considered by most people as the most important book, said John Dolmayan, a comic book enthusiast and dealer best known as the drummer for the rock band System of a Down. It kind of ushered in the age of the superheroes. Dolmayan, who owns Torpedo Comics, last year paid $317,000 for an Action Comics No. 1 issue for a client. That purchase is considered the official public record for a comic book sale, said Mark Zaid, the marketing director for the Comic Book Collecting Association, which was launched Monday. There have been other private sales in the $300,000 to $450,000 range, he said. Monday s copy fetched a much higher price because it s in better condition. It s rated an 8.0 grade, or very fine, on a scale that goes up to 10. Dolmayan said he didn t buy this copy but he wishes he could have. The fact that this book is completely unrestored and still has an 8.0 grade, it s kind of like a diamond or a precious stone. It s very rare, he said. There are only about 100 copies of Action Comics No. 1 believed to be in existence, and only a handful have been rated so highly. It s rarer still for those copies to be made available for sale. The opportunity to buy an unrestored, high-grade Action One comes along once every two decades, Fishler said. It s certainly a milestone. The sticker shock was astounding to Fishler, nevertheless. It is still a little stunning to see a comic book and $1 million in the same sentence, Fishler said. There s only one time a collectible hits the $1 million threshold. -AP Music Writer Nekesa Mumbi Moody contributed to this report.
