'Unrestored' copy of first Superman comic book for sale

[Lady Day]

From the article.

After being hidden away for years, a copy of the original "Superman and Friends" comic book will make a comeback -- at a price of about $400,000, a comic expert said Thursday.

Starting Friday, comic book collectors and Superman fans will have the opportunity to bid on a comic classic -- an "unrestored" copy of Action Comics No. 1, said Stephen Fishler, owner of Comic Connect, an online liaison between comic book buyers and sellers. The book's owner is not being identified.

The auction is attracting a lot of interest.

"One bidder wanted to trade his Ferrari for the comic book," as part of an under-the-table deal, Fishler joked. But he said the auction will remain public. "I couldn't see myself trading in my Toyota Prius" -- even for a $375,000 car.

Why is this comic book so unique?

"Of the 100 existing copies, 80 percent have been restored, but people want an untouched copy," Fishler said. The book is listed in "fine" condition, a six on the 10-point rating scale.

"It's the Holy Grail of comic books," Fishler said.

Co-created by Jerry Siegel and Joe Shuster, the comic book first appeared on newsstands for 10 cents a copy in June 1938.

Nearly 12 years later, a young boy on the West Coast found himself in a secondhand book store, where he persuaded his dad to loan him 35 cents to buy the comic book.

Until 1966, the owner forgot about the book, which was hidden in his mother's basement. Since then, he's been holding onto it, hoping to see it increase in value, Fishler said. He has not been disappointed.

"There has been a lot of interest shown on the book in the collectibles market," said Fishler, who predicted the comic book will sell for about $400,000. But, he added, no minimum price has been set for the auction, so "whatever it sells for, it sells for.

"I've known Action Comics to sell for around $750,000," comic book sales associate Bill Peterson said. "I don't have any intention on making a bid, but I know people who don't mind dropping several thousand for a classic comic."

The comic book marked the first appearances of Lois Lane, Giovanni "John" Zatara and, of course, Superman. The book is in high demand because "there was no such thing as a superhero before Superman. It spawned everything that came after -- like Batman and Spider-Man," Fishler said.

Even during the current economic downturn, Fishler expects the book to do well.

Those who can afford to bid, he said, "would ordinarily put money into the stock market. But that's a shaky proposition." These days, the comic book may even be a better investment than putting money into a CD or a bond, Fishler speculated.

Because the book was published at the close of the Great Depression, it contains advertisements that may appear quaint and quirky to 21st century readers. For only $1.25, one could buy a blonde wig, a live chameleon, a whoopee cushion, a Bible "the size of a postage stamp" or hypnosis lessons.

"Some books seem to go in and out of fashion," reads the auction blurb at comicconnect.com. But "Action Comics No. 1 will never be one of those books."

Well now.

LD

 

[Widebrim]

Yes, it is the most valuable of all editions, and this particular copy will likely take in what is expected, especially at Fine condition.

 

[Marc Chevalier]

What's amazing is that the owner's mother didn't throw it away while cleaning out the basement. Isn't that what all moms did to our valuable baseball cards?

.

 

[The Wolf]

I find it ironic that people pay a lot of money to restore old comics and posters but collectors downgrade the item if it is restored. [huh]

It's just me but I found the use of the phrase "in his mother's basement" when talking about comic book fans. lol (Even though I'm going to a comic convention on Saturday

Sincerely,
The Wolf

 

[Fletch]

It's just me but I found the use of the phrase "in his mother's basement" when talking about comic book fans. lol

You found it what? Stereotypical? Apropos? Inevitable?

 

[MPicciotto]

Friend of mine is a self proclaimed comic geek. Amongst other hobbies such as restoring a 44 Jeep, collecting original pin-up art and WW2 reenacting. When he talks about his mothers basement it's about restoring Victrolas. Oh and he's a Civil War competition shooter; rifle AND cannon. So be careful when talking about comic collectors

Matt

 

[MPicciotto]

You found it what? Stereotypical? Apropos? Inevitable?

Yes.

 

[The Wolf]

Sorry, Fletch. It looks like I forgot an important.
I meant to say that I found the phrase funny.
I surely meant no insult considering I still have a lot of old comics and I even have a classic story about my mother throwing out a box of mine when I was a kid.
Did I mention I'm going to a comic book convention in San Francisco on Saturday.

Sincerely,
The Wolf

 

[MPicciotto]

Besides a good friend being a self proclaimed and "Fully Functional" comic geek. My sisters fiancée is one also. But like I said both are full functioning geeks. Mike owns a home, is married with two kids, a Jeep project in the garage and is a school teacher. My future brother in-law Matt is the manager of the local Borders Books and is working with my sister on an entrepreneurial project to sell at great profit a really useless but really cool item to D&D Geeks. My wife is a closet comic book geek. Put her in the same room or on a car ride with either of these two people and the conversation for hours will be comic centred.

As for me... well I do like Jungle Comics and Sergeant Preston of The Yukon

Matt

 

[Jack Armstrong]

What's amazing is that the owner's mother didn't throw it away while cleaning out the basement. Isn't that what all moms did to our valuable baseball cards?

Sure is. Along with my other superhero comics, all of them worth big bucks today, my mother tossed a #1 Doctor Solar.

Which is rather strange, considering that she was a superhero-comic reader herself, when she was a kid. She often told me about the Doll Man comics she used to buy.