Comic Observations: Action Comics #1 = $1 Million

My friend Newman has pointed out an interesting news item to me. Apparently, in a private sale held yesterday, a copy of 1938's Action Comics #1, featuring the first appearance of Superman, sold for a cool one million bucks. This marks the most a vintage comic book has ever sold for.

Here's a news item on the story, for those interested in the facts.

Now, as that story reports, only about 100 copies of Action #1 exist, and of those, only two are in reasonably good condition. Apparently, this one that sold yesterday is one of those two.

Good idea? Well, seeing as how no comic book sale, even of exceptionally rare ones, has broken the $500 grand mark, this is pretty big news for the vintage comic book market. The second highest comic book sale ever is of Marvel Comics #1, featuring the first appearance of the Golden Age Human Torch and the Sub-Mariner, which went for $350,000. Heck, Batman's first appearance sold for $278, 000, and it was in comparable condition to the Action #1 that just broke the record.

So, in closing, I think it's possible the buyer was a tad suckered. Now, who has a history of an insane Superman obsession, lots of cash, and a history of fool hardy purchases such as castles and whatnot?