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Contractor David Gonzalez and his wife Deanna purchased the fixer-upper in Elbow Lake, Minnesota, for $10,100, and while demolishing a wall David found the rare comic amid newspapers used for insulation.
Although the comic might’ve received a CGC grade of 3.0 in the condition it was discovered, that dropped to 1.5 when the back cover was ripped in an exchange between Gonzalez and his wife’s aunt. “That was a $75,000 tear,” Stephen Fishler, co-owner of the New York City auction house ComicConnect, told the Star-Tribune last month.
Still … $175,000. That’s what a CGC-graded 2.0 copy fetched at a December 2012 auction held by Comic Connect.
About 100 copies of Action Comics #1 are thought to exist, but relative few are in decent condition. A near-mint copy owned by Nicolas Cage sold at auction in 2011 for a record $2.16 million.
According to ComicConnect, Gonzalez plans to continue the renovation of the house, but vows he’ll never sell it.