Rare Book Monthly
Comic Book Sells for $317,200
By Michael Stillman
These are tough times to get the best prices for your books, but as we know, every rule has its exception. On March 13, the first comic book featuring Superman went under the hammer at the Comic Connection. Eighty-nine bids later, the June 1938 edition of Action Comics was sold for $317,200. For those calculating, this was something like a 317 million percent return on the original price of 10 cents. The previous owner reportedly paid a little more than a dime for it... 35 cents, back in the 1950s. This is sobering news for all of those mothers who told their children to stop wasting their money on comic books.
Not yet a star, Superman's name does not appear on this comic's cover. However, even then we could see the extraordinary powers that would make Superman a superstar in the years ahead. The caped crusader, red cape flowing in the wind, is seen lifting a car and smashing it against a rock, to the amazement and terror of some fleeing bystanders.
The buyer was John Dolmayan, drummer for the rock band System of a Down. The band is noted for some strange songs, but nothing so strange as paying 317 grand for a comic book. Disorder! Disorder! Dolmayan runs Torpedo Comics, an online comic selling website, and reportedly said the purchase was on behalf of an unidentified client. If I spent $317,000 for a comic book, I wouldn't want to be identified either. There are only around 100 copies of this first Superman comic still in existence. It's time to check out those old comics in the attic to see if there might be 101.