Here is another interesting story dedicated to all Superman fans and comic collectors out there. If you have been following all the Superman related updates in the past few weeks, you might have come across this piece of news – a copy of Action Comics #1 had been found in the insulation of an old house in Minnesota – where it had apparently dwelled for the last 75 years.
Listed for auction at ComicConnect.com in the end of May and graded CGC 1.5 by the Certified Guaranty Company, this extraordinary comic book has just been sold for $175,000 on June 11. This is a quite impressive price for such a low grade comic book, given the fact that it is the highly-coveted original copy of Action Comics #1. In comparison, a copy in CGC 1.8 was sold by Comic Connect for $116,000 in 2010 and a CGC 2.0 was sold in December 2012 for $175,000.
Being referred to as “the grail in the wall” and “a virgin copy” by ComicConnect’s spokesperson, it is understandable that this item could fetch the record price compared to other comics of the same grade because collectors appreciate the unusual story behind its discovery.
David Gonzales, who have bought the old house and discovered the valuable comic book while taking down the wall’s insulation, said that its back cover was torn in an argument with his wife’s relatives. Unfortunately, this damage resulted in diminishing the comic’s value by approximately $75,000.
Action Comics #1, which marks the debut of our legendary hero – Superman, has been particularly well-known for its mind-blowing price every time a new item goes for sale. This issue was published in 1938 and costed only 10 cents back then.
On March 19, 2010, ComicConnect.com sold another copy for $1.5 million just a few weeks ago after another copy of the issue sold for $1 million. However, twice before 2010, it had fetched the highest prices of $86,000 in 1992 and $150,000 in 1997.
In 2011, another ultra-rare and pristine copy of Action Comics #1 (graded 9.0/10) was sold at $2,160,000, which has become the world’s most expensive comic ever since. It was speculated to be the one that once belonged to famous actor Nicholas Cage, which was stolen from him in 2000.
Experts in the comic world commented that this kind of investment has become a trend recently especially during the gloomy economic periods because rare collectibles’ values are more reliable than that of property or shares.
This is another blog post that I have written for Collectibly. Here’s the link to the original blog post. Do check it out and thanks for reading!
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