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Pristine copy of ‘Action Comics’ #1 sells for record $3.2 million

action1The finest known copy of Action Comics #1, featuring the first appearance of Superman, sold late this afternoon on eBay for a record $3.2 million. It’s the first comic to fetch more than $3 million at auction.

The previous record price of $2.16 million was paid in 2011 for a copy of the same comic once owned by actor Nicolas Cage. While both are rated 9.0 by the Certified Guaranty Company, the Cage issue had “cream to off-white pages”; this one is considered to be in pristine condition. They’re the only two copies of Action Comics #1 to receive that high of a rating.

This copy was acquired several years ago in a private sale by Darren Adams of Pristine Comics in Federal Way, Washington, and stored a temperature-controlled vault. He said the original owner bought the comic  from a newsstand in 1938, and then kept in a cedar box for about four decades until a local dealer in West Virginia purchased it in an estate sale. The issue then passed to a third person, who held onto it for 30 years.

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At halfway point, bidding for ‘Action Comics’ #1 hits $1.95 million

action1Halfway through the 10-day eBay auction, bidding for the finest known copy of Action Comics #1 has surpassed $1.95 million.

Owned by Darren Adams of Pristine Comics in Federal Way, Washington, it’s just one of two copies of Superman’s first appearance to receive a 9.0 rating from the Certified Guaranty Company. The other, previously owned by actor Nicolas Cage, sold at auction in 2011 for a record $2.16 million. The difference between the two is that the Cage issue had “cream to off-white pages,” while Adams’ copy is considered to be in pristine condition.

Bidding has slowed considerably as the price inches higher: The comic jumped from a starting price of 99 cents to more than $1.6 million in the auction’s first day. Still, already this morning the price has moved from $1.8 million to a little more than $1.95 million. It appears just nine people have participated in the auction, for a total of 27 bids.

The auction continues through Aug. 24, with a portion of the proceeds going to benefit the Christopher & Dana Reeve Foundation, dedicated to curing spinal cord injury. Adams, who acquired the comic several years ago, is only its fourth owner. He said he recently turned down an offer of $3 million, deciding instead to sell the book on eBay.

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‘Action Comics’ #1 rockets to $1.6 million in first day of bidding

action1

Just one day into the eBay auction, bidding has already surpassed $1.6 million for the finest known copy of 1938’s Action Comics #1, featuring the first appearance of Superman.

It’s just one of two copies to receive a 9.0 rating from the Certified Guaranty Company. The other, previously owned by actor Nicolas Cage, sold at auction in 2011 for a record $2.16 million. However, the Cage issue had “cream to off-white pages,” while this copy is considered to be in pristine edition.

An opening bid of $1 million was submitted Thursday within four minutes of the auction’s opening. Although the comic’s owner, retailer Darren Adams of Pristine Comics in Federal Way, Washington, had said more than 75 people had applied to bid in the restricted sale, it appears as if just five have participated so far.

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Auction starts today for finest known copy of ‘Action Comics’ #1

action1For serious collectors with seriously deep pockets, this is a momentous day: It’s the beginning of the 10-day eBay auction of the holy grail of comic books — the finest known copy of Action Comics #1.

“I’ve been in business 28 years and you chase a lot of leads hoping to find something like this,” retailer Darren Adams, who owns the CGC-graded 9.0 copy, tells Seattle’s KCPQ TV. “This is the needle in the haystack, because most books are not preserved with such quality.”

The owner of Pristine Comics in Federal Way, Washington, Adams acquired the comic several years ago in a private sale, and stored it in a temperature-controlled vault. He tells the Federal Way Mirror the original owner bought the comic (for 10 cents) from a newsstand in 1938, and then stored it in a cedar box for about four decades until a local dealer in West Virginia purchased it in an estate sale. The issue then passed to a third person, who held onto it for 30 years.

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