First Superman Comic Sold for Big Bucks

The first comic to feature Superman sold in an Internet auction for $317,200, even though the comic is valued at $470,000. A poor economy is blamed for the lower sale price. The winning bid came from John Dolmayan, drummer for the rock band System of a Down. Dolmayan, who is also a dealer of rare comic books, said he acquired the Superman comic on behalf of a client he declined to identify. Dolmayan said in a phone interview:

"This is one of the premier books you could collect. It’s considered the Holy Grail of comic books. I talked to my client, and we made the move. My client has a a small collection, but everything he has is incredible."

Only about 100 copies of Action Comics No. 1 are known to exist and they seldom come up for sale.

The original price for the comic book was just 10 cents. The man who had previously owned the book purchased it in a secondhand store in the early 1950s when he was nine years old.

He paid 35 cents.

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