Death, debt, and divorce are the most common reasons valuable items end up at auction. In this case, death set events in motion, ultimately leading to the most expensive comic book ever sold at auction.
Last year, a woman from Northern California passed away, leaving her three adult sons with the task of clearing out her home, where they had grown up. In the attic, they found a cardboard box filled with old newspapers. Inside were six comic books: five issues of Action Comics published between February 1939 and February 1940, and Superman No. 1, the first comic book devoted entirely to the Man of Steel, released in the summer of 1939.
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The brothers brought the comics to the San Francisco office of Heritage Auctions, which is based in Dallas, Texas. Specialists there were struck by the exceptional condition of Superman No. 1. “If it had been lying in an attic here in Texas, it would have been ruined,” said Lon Allen, Vice President of Heritage Auctions, pointing to the role climate plays in preserving paper and other organic materials. Because of its near-perfect state, the comic received a grade of 9.0 from CGC (Certified Guaranty Company), the world’s largest independent comic book grading service. This corresponds to “Very Fine/Near Mint” on a ten-point scale.
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Early on, it was clear that the comic could set a new auction record, given its historical importance, rarity, and condition. That proved to be the case on November 20, when it sold for $9.12 million at a Heritage Auctions sale in Dallas. The price easily surpassed the previous auction record of $6 million, also set at Heritage Auctions earlier in 2024. The second-highest price ever achieved at auction for a comic book was paid for a copy of Action Comics No. 1 from June 1938, which marked Superman’s first appearance. The previous highest price for Superman No. 1, £4.3 million, was reached in a private sale in 2022.
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"What a momentous day," said Heritage Auctions Vice President Lon Allen. "I'm thrilled for our consignor. Superman No. 1 is a milestone in pop culture history, and this copy is not only in unprecedented condition, but it has a movie-worthy story behind it. I was glad to see the price reflect that and am honored Heritage was entrusted with this iconic book."
