The copy, once part of the Nicolas Cage collection, was stolen several years and was found earlier this year in a storage locker. Due to several distinct marks on it, ComcConnect.com was able to identify it as being that particular copy. It was consigned to the firm, submitted to CGC for grading, and became the highest-graded copy to date. Only 100 copies of the first appearance of Superman are estimated to still exist.
More than a day before the auction closed, the book had already set a record, receiving a bid of $1,552,000 and ComicConnect.com co-founder Vincent Zurzolo said he expected it to go higher by auction close.
This sale is the fifth to realize $1 million or more for a key comic book and ComicConnect.com has been the seller for four out of the five books. In February 2010, the firm sold a CGC 8.0 copy of Action #1 for $1 million, followed a month later by the sale of an 8.5 copy for $1.5 million, the record price which stood until this sale. ComicConnect then sold a copy of Amazing Fantasy #15 (Aug 62), Spider-Man’s first appearance for $1.1 million in March of this year, making it the first Silver Age comic book to exceed $1 million.
The other key comic book in the $1 million club is an 8.0 copy of Detective Comics #27 (May 39), the first appearance of Batman, which was sold by Heritage Comic Auctions in February 2010, for $1.075 million.