Action Comics # 1 [6.0] Unrestored up up and away!

[action1kid]

So the bidding did come down to two celebrities .The drumguy and The Rick.

[VintageComics]

Well if that's the case then I guess it was a legit sale.

 

(thumbs u

[The Black Hand ®]

Yep, it was a legitimate sale.

Rare Superman comic sells for $317,200

By DAVID B. CARUSO – 1 hour ago

 

NEW YORK (AP) — A rare copy of the first comic book featuring Superman has sold for $317,200 in an Internet auction. The previous owner of Action Comics No. 1 bought it for less than a buck.

 

It's one of the highest prices ever paid for a comic book, a likely testament to the volume's rarity and its excellent condition, said Stephen Fishler, co-owner of the auction site ComicConnect.com and its sister dealership, Metropolis Collectibles.

 

The winning bid for the 1938 edition, which features Superman lifting a car on its cover, was submitted Friday evening by John Dolmayan, drummer for the rock band System of a Down, according to managers at ComicConnect.com.

 

In addition to being a musician, Dolmayan is a dealer of rare comic books. The auctioneers said he acquired the Superman comic on behalf of an unidentified client.

 

"I imagine it's someone from the entertainment world," said Vincent Zurzolo, chief operating officer at ComicConnect and Metropolis Collectibles.

 

Only about 100 copies of Action Comics No. 1 are known to exist and they seldom come up for sale.

 

"Maybe in a booming economy, it would have done a hundred grand more, but in this economy, I think the price is great," Fishler said.

 

The man who had previously owned the book purchased it in a secondhand store in the early 1950s when he was nine years old.

 

He paid 35 cents

 

[action1kid]

Wonder what his max was? I mean being that he was a bigshot in the music world.

[TeddieMercede]

So the bidding did come down to two celebrities .The drumguy and The Rick.

 

You mean Gator isn't Rick Roll ?

[JiveTurkeyMoFo]

So the bidding did come down to two celebrities .The drumguy and The Rick.

You mean Gator isn't Rick Roll ?

I always thought of him more as Rick James...

 

http://www.graphicshunt.com/index.php' title="http://graphicshunt.com/images/rick_james_person_without_enough_empathy-908.htm" target="_blank">

[action1kid]

Rick n roll ?

[G.A.tor]

So the bidding did come down to two celebrities .The drumguy and The Rick.

 

You mean Gator isn't Rick Roll ?

[G.A.tor]

So the bidding did come down to two celebrities .The drumguy and The Rick.

You mean Gator isn't Rick Roll ?

I always thought of him more as Rick James...

 

http://www.graphicshunt.com/index.php' title="http://graphicshunt.com/images/rick_james_person_without_enough_empathy-908.htm" target="_blank">

[RareHighGrade]

Rick, do you have any sense of what the sales price would have been if you had not been in the race? In other words, what do you think the next highest bid was? To me, this is an important question when evaluating the current FMV for an Action 1.

[G.A.tor]

Rick, do you have any sense of what the sales price would have been if you had not been in the race? In other words, what do you think the next highest bid was? To me, this is an important question when evaluating the current FMV for an Action 1.

 

one can only make an assumption here... but, from $300-317, I would "guess" it was just us...but, hindsight is 20/20... given that we were both willing to pay 317, seems like that kind of establishes a range of FMV of 300-320

[RareHighGrade]

Rick, do you have any sense of what the sales price would have been if you had not been in the race? In other words, what do you think the next highest bid was? To me, this is an important question when evaluating the current FMV for an Action 1.

 

one can only make an assumption here... but, from $300-317, I would "guess" it was just us...but, hindsight is 20/20... given that we were both willing to pay 317, seems like that kind of establishes a range of FMV of 300-320

That depends. If the buyer of the 6.0 is now out of the equation because he has the book, the FMV of a similar 6.0 may have just dropped to $300K.

[G.A.tor]

Rick, do you have any sense of what the sales price would have been if you had not been in the race? In other words, what do you think the next highest bid was? To me, this is an important question when evaluating the current FMV for an Action 1.

 

one can only make an assumption here... but, from $300-317, I would "guess" it was just us...but, hindsight is 20/20... given that we were both willing to pay 317, seems like that kind of establishes a range of FMV of 300-320

That depends. If the buyer of the 6.0 is now out of the equation because he has the book, the FMV of a similar 6.0 may have just dropped to $300K.

true...that is why I did a range...we have no idea if there was another buyer at 310, etc, that either got in with a bid, or missed

[Shield]

We will be having another ComicConnect auction in about a month. In that auction will be another original owner unrestored CGC Action #1.

When will you be selling the 6.0?

 

Richard is the greatest! Hilarious!

[FlyingDonut]

Here's the story from The Washington Post website

[mikephoen]

Rick, do you have any sense of what the sales price would have been if you had not been in the race? In other words, what do you think the next highest bid was? To me, this is an important question when evaluating the current FMV for an Action 1.

 

one can only make an assumption here... but, from $300-317, I would "guess" it was just us...but, hindsight is 20/20... given that we were both willing to pay 317, seems like that kind of establishes a range of FMV of 300-320

That depends. If the buyer of the 6.0 is now out of the equation because he has the book, the FMV of a similar 6.0 may have just dropped to $300K.

 

Conversely, now that a price has been 'set', future buyers who maybe were on the fence about the market value may now feel more confident in bidding to these levels or slightly beyond.

 

 

[mikephoen]

I also think this book continues to be a steal. Action #1 as a cultural artifact has to be at least 1000 times more important than a misprinted stamp with an upside down plane. And probably 100 times more important that a baseball card of a player who wasnt even the best player in his era.

[fishbone]

Here's the story from The Washington Post website

 

Same AP article being copied everywhere now

[adamstrange]

I also think this book continues to be a steal. Action #1 as a cultural artifact has to be at least 1000 times more important than a misprinted stamp with an upside down plane.

 

There are a hundred of the inverted Jenny, give a take a few that might have been lost over time. Nor is the Jenny the only US invert.

[jkrk]

Some random questions:

 

1)If Rick forgot about the date of the auction... What would the book have sold for? My guess....Maybe the mid 250's?

 

2)Was there less interest in the book than there would have been for an AF 15 in 9.6? Perhaps more Action 1's need to be pressed?

 

3)Did the final sales prices create excitement for the hobby? my guess a day's worth of excitement then all will be forgotten. Maybe our price expectations were too high and reality is setting in.

 

4)Fishler said: "Maybe in a booming economy, it would have done a hundred grand more, but in this economy, I think the price is great," Didn't Josh say, "What recession"? Perhaps Fishler should auction his books through Comiclink?