Bet you old timers wish you kept your first edition copy...

[JustinStrife]

Superman's debut comic book issue sells for $1M

NEW YORK – A rare copy of the first comic book featuring Superman sold Monday for $1 million, smashing the previous record price for a comic book.

A 1938 edition of Action Comics No. 1, widely considered the Holy Grail of comic books, was sold from a private seller to a private buyer, neither of whom released their names. The issue features Superman lifting a car on its cover and originally cost 10 cents.

The transaction was conducted by the auction site ComicConnect.com. Stephen Fishler, co-owner of the site and its sister dealership, Metropolis Collectibles, orchestrated the sale.

Fishler said it transpired minutes after the issue was put on sale at around 10:30 a.m. Eastern time (1530 GMT). He said that the seller was a "well known individual" in New York with a pedigree collection, and that the buyer was a known customer who previously bought an Action Comics No. 1 of lesser grade.

"It's considered by most people as the most important book," said John Dolmayan, a comic book enthusiast and dealer best known as the drummer for System of a Down. "It kind of ushered in the age of the superheroes."

Dolmayan, who owns Torpedo Comics, last year paid $317,000 for an Action Comics No. 1 issue for a client. Others have sold for more than $400,000, he said, but this copy fetched a much higher price because it's in better condition. It's rated an "8.0 grade," or "very fine."

Dolmayan said he didn't buy this copy but he wishes he could have.

"The fact that this book is completely un-restored and still has an 8.0 grade, it's kind of like a diamond or a precious stone. It's very rare," he said.

There are only about 100 copies of Action Comics No. 1 believed to be in existence, and only a handful have been rated so highly. It's rarer still for those copies to be made available for sale.

"The opportunity to buy an un-restored, high-grade Action One comes along once every two decades," Fishler said. "It's certainly a milestone."

The sticker shock was astounding to Fishler, nevertheless.

"It is still a little stunning to see 'a comic book' and '$1 million' in the same sentence," Fishler said. "There's only one time a collectible hits the $1 million threshold."

http://news.yahoo.com/s/ap/201...issue

[Dire91]

The higher the demand the higher the price, it makes sense but holy s*** that is one rich comic book collector. I would much rather spend that money on other things, I mean how much is that comic's price really going to increase now?

[DrifterXRPS13]

it will increase forever in price...i wish i could buy action comics no1...if i was a multi millionaire i would.

[Chaotic_Warlord]

I never understood why that one comic book is worth more than any other comic book out there? I mean Superman is great and all, but Batman has a muuuuuuuch larger fanbase, as does Spiderman.

So if you spent $1M on a comic book would you read it? I sure as hell would.

[DrifterXRPS13]

once you buy it, you can do whatever you want with it..but i sure as hell wouldn't read it...it would be framed somewhere under heavy security as my prized possession.

oh and are you sure that batman and spiderman have a larger fanbase? Superman is known worldwide by anybody and everybody from small children to the eldest of folks.

The first appearance of any comic book is worth the most amount of money because you never know if it will be a success or a failure and depending on how many copies are made and how much time has passed....it's like cars man...look at all the muscle cars...why do they cost so much?

[JustinStrife]

once you buy it, you can do whatever you want with it..but i sure as hell wouldn't read it...it would be framed somewhere under heavy security as my prized possession.

oh and are you sure that batman and spiderman have a larger fanbase? Superman is known worldwide by anybody and everybody from small children to the eldest of folks.

The first appearance of any comic book is worth the most amount of money because you never know if it will be a success or a failure and depending on how many copies are made and how much time has passed....it's like cars man...look at all the muscle cars...why do they cost so much?

Agreed on all points. Still it is kind of nuts isn't it? Some people have way too much money. They need to send some of it our way.

[DrifterXRPS13]

for sure!

oh hey while i have your here...can you please explain to me what exactly the reluctor tooth is? i know it has something to do with the electronics but what is the difference between the 24x and the 52x i believe or is it 58x...idk...but since you have a vette i figured i'd ask as that is the only thing i can't get a definitive answer from the books and the forums.

[JustinStrife]

for sure!

oh hey while i have your here...can you please explain to me what exactly the reluctor tooth is? i know it has something to do with the electronics but what is the difference between the 24x and the 52x i believe or is it 58x...idk...but since you have a vette i figured i'd ask as that is the only thing i can't get a definitive answer from the books and the forums.

C5s have the 24 tooth. C6s after 2005 had the 48 tooth.

All I know, is when installing a C6 engine(LS2/Ls3/LS7) into a C5, you need to change that tooth to a 24 in order to retain your PCM/ECU, and it involves removing the crank from the engine to do so. I don't know the specifics on it. Sounds like a real pain in the arse regardless.

[DrifterXRPS13]

so it's pretty much in control of the pcm/ecu....i'll be going 427 soon in the kouki so i'm just trying to get all the wiring and electronics info i can get to make this easy.

[JustinStrife]

so it's pretty much in control of the pcm/ecu....i'll be going 427 soon in the kouki so i'm just trying to get all the wiring and electronics info i can get to make this easy.

That should be an insane swap. Traction should be an issue in the first 4 gears I'm thinking... I've been thinking about buying another '95 S14 and doing an LQ4/LQ9 swap just for the hell of it. Hence why I pop in and out of Nico on occasion. This modding cars thing is a very bad sickness for me.

[Dattebayo]

It's probably the same guy who thinks a FD is worth $30K.

[DrifterXRPS13]

hahahaa, dave.

yea, i'm gonna need a locker or something out back, lol...you know what they say though, when in doubt, punch it out...a regular ls1 just didn't seem to make me giggle like a little school girl.

you should def do it mang...yea, i noticed you come on every once in awhile.

[nissangirl74]

I think paying a million bucks for something I can't enjoy is a little outrageous. Seriously, how can you really enjoy something you can't use? It's like buying this

http://exxoticar.blogspot.com/....html

and never driving it.