Archive for August 24th, 2014

Action Comics #1 shatters record at auction

Sunday, August 24th, 2014

A copy of Action Comics #1, the first appearance of Superman which revolutionized the industry, in almost perfect condition has sold on eBay for $3,207,852, shattering the previous record price of $2.16 million set in 2011 by Nicholas Cage’s famously purloined copy. It is the first comic to pass the three million dollar mark. The buyers are Metropolis/ComicConnect, renown vintage comic dealers who in fact sold the Cage copy. It is not known if they were acquiring it for a private collector or for themselves.

Given a Certified Guaranty Company universal grade of 9.0 with White Pages, this copy is considered the finest Action Comics #1 ever graded. The previous record-holder was a 9.0 as well, but this one is a stronger 9, with glossy front and back covers, more brilliant colors and those perfect white pages. There is no yellowing whatsoever. It looks like it came fresh off the presses, with only two spine stress marks testifying to its ever having been opened at all. Only one other copy of this comic was graded Perfect White Pages, and that one had a mere 2.5 CGC grade.

Its condition is so astonishing that the first dealer who got his hands on it thought it might be a later reissue he didn’t know about. He had never seen a copy that was so flat with such white pages. The reason it was in such impeccable condition was that the while the first owner bought it for 10 cents from the newsstand in 1938 like 200,000 other people did, unlike most everyone else he lived at fairly high altitude in the Blue Ridge Mountains of West Virginia and when he finished reading it, he put the comic in a cedar chest where it remained virtually untouched for four decades. The cool, dark, dry environment of the cedar chest froze time for this comic.

In the late 70s, comics and collectibles dealer Joe Mannarino got a phone call from the son of the original owner. He had seen an ad Mannarino put in a local paper offering to buy vintage comics and wanted to sell the stack of comics in his father’s hope chest. There were about 35 comics in the collection, an eclectic mish-mash that included most notably Action Comics #1, Action Comics #2 and Planet Comics #2. Mannarino bought the books for several thousand dollars.

He decided to store his pristine new Action Comics #1 exactly as it had been stored all these decades: in a cedar-lined chest. A few years later he sold it to another dealer who kept its existence secret for 30 years until this year when he decided to sell it to Darren Adams of Pristine Comics. It’s Adams who sold it on eBay on Sunday, with 1% of the proceeds going to the Christopher and Dana Reeve Foundation in honor of Reeve’s iconic Superman.

You can see how incredible the copy looks in this video that leafs through every page.

You can also virtually leaf through every perfect white page yourself on the CGC website. The photographs of the covers and pages aren’t as high resolution as I would like them to be for optimal reading, but it’s still legible and conveys clearly what a special copy of Action Comics #1 this is. Don’t miss the first appearance of Zatara, Master Magician, and his fabulous arch-enemy The Tigress. I love how everyone sports such varied and stylish headgear.

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