Mile High Copy of Superman 1 CGC 8.0 Sells For $5.3 Million 4 4

[THE_BEYONDER]

On 4/14/2022 at 9:34 PM, VintageComics said:

It's relative. It sold for $3.2MIL and that was CRAZY money at the time.

Just like $1000K for a comic was crazy money 50 years ago. 

It's all relative. 

Auctioned today....what do you think it goes for?

[Poekaymon]

On 4/14/2022 at 9:40 PM, THE_BEYONDER said:

Auctioned today....what do you think it goes for?

Bout tree fiddy.

[THE_BEYONDER]

On 4/14/2022 at 10:22 PM, Poekaymon said:

Bout tree fiddy.

I’m thinking twice that....

[Aman619]

On 4/14/2022 at 8:12 PM, Comicdave said:

It's sales like this and the CGC 9.6 Amazing Fantasy 15 that makes me wonder why the CGC 9.0 Action #1 didn't sell for higher than it did. I realize it was 8 years ago and it was a record price at the time, but that sale should have blown all previous records out of the water by a higher margin.

Its all a progression.  That 3M sale back then made todays sales prices possible. Just as todays 5.3M sale opens up the high end even more

[JazzMan]

On 4/14/2022 at 7:03 AM, sevans1979 said:

You could spend $13,698 a day for a year before you run out of money. Lol 

I like challenges like that.  I'm sure I can make it happen.  

[Buzzetta]

I’m shocked but at something different than others might be.  At auction the price for the 9.0 Action 1’s we’re determined by competitive bidding. 
 

With a private sale, if this was a person to person sale and not a private auction then I am shocked that the amount was privately determined and agreed to. 

[Cat]

On 4/16/2022 at 7:52 AM, Buzzetta said:

I’m shocked but at something different than others might be.  At auction the price for the 9.0 Action 1’s we’re determined by competitive bidding. 
 

With a private sale, if this was a person to person sale and not a private auction then I am shocked that the amount was privately determined and agreed to. 

Sources say an Obadiah Oldbuck was also included, cinching the deal. 

[THE_BEYONDER]

On 4/15/2022 at 5:52 PM, Buzzetta said:

I’m shocked but at something different than others might be.  At auction the price for the 9.0 Action 1’s we’re determined by competitive bidding. 
 

With a private sale, if this was a person to person sale and not a private auction then I am shocked that the amount was privately determined and agreed to. 

Maybe they’re just setting the stage to auction the book in its shiny new 8.5 case

[VintageComics]

On 4/15/2022 at 5:52 PM, Buzzetta said:

With a private sale, if this was a person to person sale and not a private auction then I am shocked that the amount was privately determined and agreed to. 

This makes no sense. 1000's of books sell every day for a privately determined and agreed to price. Millions of homes and cars sell every day this way. Watches, Groceries. Literally everything sells this way. Even in auctions, buyers determine how much they're willing to pay. 

Why is this any different?

[Buzzetta]

On 4/15/2022 at 7:23 PM, VintageComics said:

This makes no sense. 1000's of books sell every day for a privately determined and agreed to price. Millions of homes and cars sell every day this way. Watches, Groceries. Literally everything sells this way. Even in auctions, buyers determine how much they're willing to pay. 

Why is this any different?

It's VERY different.

The majority of those books have a sales history or multiple copies to compare to.

Millions and cars and homes sell every day based upon comparable market of surrounding homes and sales history of cars. 

This book is an anomaly especially when it is now the highest price ever paid for a comic book. 

[VintageComics]

On 4/15/2022 at 8:46 PM, Buzzetta said:

It's VERY different.

The majority of those books have a sales history or multiple copies to compare to.

Millions and cars and homes sell every day based upon comparable market of surrounding homes and sales history of cars. 

This book is an anomaly especially when it is now the highest price ever paid for a comic book. 

Everything has a relationship to something else, and every priced item has a relationship to how other things are priced. 

Markets are always based on how much people are willing to spend and while volume items make some people more comfortable spending money (flocks of a feather stick together) it's not impossible to value unique items. It just takes more effort. 

And as we were just discussing in the Water Cooler, chaos is just order that hasn't yet been understood. 

I don't know how to price out building a skyscraper or what one should sell for but you can bet someone does. 

[Buzzetta]

On 4/15/2022 at 8:51 PM, VintageComics said:

Everything has a relationship to something else, and every priced item has a relationship to how other things are priced. 

Markets are always based on how much people are willing to spend and while volume items make some people more comfortable spending money (flocks of a feather stick together) it's not impossible to value unique items. It just takes more effort. 

And as we were just discussing in the Water Cooler, chaos is just order that hasn't yet been understood. 

I don't know how to price out building a skyscraper or what one should sell for but you can bet someone does. 

Completely disagree with you on this one. 

 

[chrisco37]

On 4/15/2022 at 8:46 PM, Buzzetta said:

It's VERY different.

The majority of those books have a sales history or multiple copies to compare to.

Millions and cars and homes sell every day based upon comparable market of surrounding homes and sales history of cars. 

This book is an anomaly especially when it is now the highest price ever paid for a comic book. 

Anomaly?  It’s Superman 1, which has always been a Top 5 (at worst) book.  It’s a tough book in any grade and notoriously rare in higher grades.  This is one of the best copies in existence. And it’s a Church to boot.  
If any book was going to break the 5M barrier, this  was one of them.  

[Buzzetta]

On 4/15/2022 at 9:31 PM, chrisco37 said:

Anomaly?  It’s Superman 1, which has always been a Top 5 (at worst) book.  It’s a tough book in any grade and notoriously rare in higher grades.  This is one of the best copies in existence. And it’s a Church to boot.  
If any book was going to break the 5M barrier, this  was one of them.  

Exactly.

It's an anomaly compared to everything else. 

[KCOComics]

I agree that it's a tougher book to price. If it was an AF15 9.6, you would have a recent sale to point too. 9.4 sales to point at, 9.2 sales and so on. 

With a superman 1 of this magnitude there is a bit more work that needs to be done.  

With that said, if I was in a position to buy a book of this magnitude,  I wouldn't want to go through an auction house... I would do exactly what this buyer did. Contact established people in the industry I trust and work out a price we are both comfortable with. 

I doubt the buyer is looking for a quick flip here and fully appreciates how special that book is to the hobby.  If you have an opportunity to obtain a book like that for a price you are comfortable with,  without having to publicly compete and worry about schill bidding and other nonsense, I would go for it. 

[Randall Dowling]

On 4/15/2022 at 8:48 PM, Buzzetta said:

Exactly.

It's an anomaly compared to everything else. 

My confusion about the price paid is that it's an 8.0.  Not a 9.0, 9.2, 9.4, etc.  And while it is scarce in higher grades, it's known to not even be the best copy in existence of Superman 1.  And Superman 1 isn't the most valued book in comics.  Action 1, Detective 27, CA 1, AF15 are all bigger books in top grades than Superman 1.  

But right now, the impression is that the Church copy of Superman 1 is the most valuable comic in existence.  And that's along way from being so.  Especially given it's restored.  For the money spent on this book, I have a very long list of alternatives I would purchase instead.  If the buyer were to sell it at auction, I think they'll be disappointed.

[Crowzilla]

On 4/16/2022 at 12:35 AM, Randall Dowling said:

My confusion about the price paid is that it's an 8.0.  Not a 9.0, 9.2, 9.4, etc.  And while it is scarce in higher grades, it's known to not even be the best copy in existence of Superman 1.  And Superman 1 isn't the most valued book in comics.  Action 1, Detective 27, CA 1, AF15 are all bigger books in top grades than Superman 1.  

But right now, the impression is that the Church copy of Superman 1 is the most valuable comic in existence.  And that's along way from being so.  Especially given it's restored.  For the money spent on this book, I have a very long list of alternatives I would purchase instead.  If the buyer were to sell it at auction, I think they'll be disappointed.

LOL - AF15 and Cap1 are not "bigger books in top grades than Superman 1".  The "known to not even be the best copy in existence of" Cap1 just sold for 3 million. and look at comparison grades/prices of Cap vs Superman across the board. So why shouldn't the highest graded Superman #1 command a premium? Same for "tied with 3 other copies of AF15". Superman #1 skunks those books in equal grades across the board.

I don't think Roy or anyone else is suggesting this is the most valuable comic in existence (I don't even think Roy would argue it's the most valuable slabbed comic in existence). It's just currently the high water mark for a selling price, and because none of the other books that might vie for the title of "most valuable" are currently available.

[Randall Dowling]

On 4/15/2022 at 11:54 PM, Crowzilla said:

LOL - AF15 and Cap1 are not "bigger books in top grades than Superman 1".  The "known to not even be the best copy in existence of" Cap1 just sold for 3 million. and look at comparison grades/prices of Cap vs Superman across the board. So why shouldn't the highest graded Superman #1 command a premium? Same for "tied with 3 other copies of AF15". Superman #1 skunks those books in equal grades across the board.

I don't think Roy or anyone else is suggesting this is the most valuable comic in existence (I don't even think Roy would argue it's the most valuable slabbed comic in existence). It's just currently the high water mark for a selling price, and because none of the other books that might vie for the title of "most valuable" are currently available.

I'm sorry, I think you misunderstood my post.  I'm not saying that a Superman 1 isn't worth more than an 8.0 of a CA 1 or an AF15.  My comparison was meant between highest graded copies of those books.  To make it even more clear for you.  If you could choose a Captain America 1 in CGC 9.6 or an Amazing Fantasy 15 in CGC 9.6 or a Superman 1 in CGC 8.0, which one would you take. 

But I think everything you wrote is debatable. otherwise.  YMMV.

[Crowzilla]

On 4/16/2022 at 1:13 AM, Randall Dowling said:

I'm sorry, I think you misunderstood my post.  I'm not saying that a Superman 1 isn't worth more than an 8.0 of a CA 1 or an AF15.  My comparison was meant between highest graded copies of those books.  To make it even more clear for you.  If you could choose a Captain America 1 in CGC 9.6 or an Amazing Fantasy 15 in CGC 9.6 or a Superman 1 in CGC 8.0, which one would you take. 

But I think everything you wrote is debatable. otherwise.  YMMV.

Yes, the highest graded copy of Superman #1 is worth more than the highest graded copy of Cap 1.

Is the single highest graded Superman #1 worth more than 1 of the 4 tied for highest graded Fantasy 15s? Right now, yes. You could debate that one of course, but the fact that the 3rd highest graded copy of Superman #1 sold for nearly $3 million would weigh heavily in support of that hypothesis. If the buyer of the 9.6 Fantasy 15 were to sell at auction right now, they might be disappointed also. It's all speculation until it happens.

[Domo Arigato]

On 4/15/2022 at 5:00 PM, Mecha_Fantastic said:

Sources say an Obadiah Oldbuck was also included, cinching the deal. 

Yeah.....that whole "America's first comic book" never really caught on.

They're giving out free copies with each car wash in my area.