{"id":5481,"date":"2010-03-29T20:57:00","date_gmt":"2010-03-29T20:57:00","guid":{"rendered":""},"modified":"2020-08-01T18:23:52","modified_gmt":"2020-08-01T23:23:52","slug":"dueling-auctions-continue-action-1-goes","status":"publish","type":"post","link":"https:\/\/comichron.com\/blog\/2010\/03\/29\/dueling-auctions-continue-action-1-goes\/","title":{"rendered":"Dueling auctions continue: Action #1 goes for $1.5 million"},"content":{"rendered":"
by John Jackson Miller and T.M. Haley<\/span><\/span><\/i><\/div>\n
<\/div>\n

Before last month, no comic book had sold for more than $1 million. Since then, there have been three. ComicConnect<\/b>, which kicked off things last month<\/a><\/b> with a $1 million sale of Action Comics<\/b><\/i> #1<\/b> (the first appearance of Superman) announced today that it has sold a higher-graded copy<\/b><\/a> for $1.5 million.<\/p>\n

Last month’s copy was graded 8.0 (Very Fine) by Comics Guaranty; this copy was graded 8.5 (VF+). That’s an incredibly subtle difference in condition, one most civilians (and many people in the business!) wouldn’t be able to see. According to the CGC Census<\/a><\/b>, this copy is the highest rated unrestored copy of the book in existence; there is a restored 9.0, but many collectors do not find restored copies as desirable.<\/p>\n

This beats the $1,075,500 record<\/b><\/a> set a little over one month ago (and only three days after the first Action #1 sale) by Heritage Comic Auctions <\/b>for an 8.0 copy of Detective Comics <\/i>#27,<\/b> the first appearance of Batman.<\/p>\n

According to ComicConnect, for 50 years, the comic book was buried in a stack of old movie magazines from the 1930s. \u201cBecause it was tucked inside a magazine, it was well protected all those years,\u201d said Stephen Fishler<\/b>, company founder. \u201cThat\u2019s why it\u2019s in such remarkable condition.\u201d<\/div>\n

While The Comics Chronicles is not an aftermarket site (although John is an Overstreet<\/a><\/i><\/b>\"\" advisor), these moments are notable reminders of how the comics of the past continue to attract interest in the present. We are talking, again, of an appreciation rate of more than 1 billion percent over cover price. Not many collectibles have that kind of return on investment after 70 years!<\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

by John Jackson Miller and T.M. Haley Before last month, no comic book had sold for more than $1 million. Since then, there have been three. ComicConnect, which kicked off things last month with a $1 million sale of Action Comics #1 (the first appearance of Superman) announced today that it has sold a higher-graded … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":5482,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[46,103],"class_list":["post-5481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-record-setters","tag-secondary-market"],"_links":{"self":[{"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/posts\/5481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/comments?post=5481"}],"version-history":[{"count":3,"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/posts\/5481\/revisions"}],"predecessor-version":[{"id":6629,"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/posts\/5481\/revisions\/6629"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/media\/5482"}],"wp:attachment":[{"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/media?parent=5481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/categories?post=5481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/comichron.com\/blog\/wp-json\/wp\/v2\/tags?post=5481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}