Action Comics #1 Sells for Record-Breaking $1 Million

"Action Comics" #1, a 1938 comic book that featured the first appearance of Superman and originally cost 10 cents, has just been sold for $1 million dollars at auction through the website ComicConnect.com, making it the most expensive comic book of all time -- and in the middle of a recession, no less.

This particular issue, which was rated at 8.0 out of 10 according to the CGC grading company, had been held in a private collection for the last 15 years, and is one of the rarest in existence.

"It's the single most important event in comic book history," adds ComicConnect.com co-owner and COO, Vincent Zurzolo. Only about 100 copies Action Comics #1 remain in existence, and of those 100, only two have received a grading of 8.0 (Very Fine) or higher. This particular book is one of them, making it among the rarest of the rare. Up until now, the record-holder was another Action Comics #1, this one with a grading of 6.0. It sold on ComicConnect.com for $317,200 in 2009.

The comic will be on display briefly in ComicConnect's New York City showroom. Comic book auction enthusiasts -- especially those with way too much money -- should also note that the impressive Heritage Comics and Comics Art auction is coming up this Thursday as well, with a whole host of Golden and Silver Age rarities ready to go.

The items for sale include an 8.0 copy of "Detective Comics" #27, the first appearance of Batman, which another site had predicted only this morning could break the all-time record for the most expensive comic. Best of luck with that now!