Price is Right: Superman # 1 at PWCC

Just final week, via a consignment, PWCC listed some of the vital comedian books of all time on its website: Superman #1 (1939). This explicit copy is a CGC 3.0 with cream to off-white pages. The consignor is asking for $449,000 however is additionally taking gives. Let’s play one other spherical of the Price is Right.

Although Superman #1 doesn’t include the primary look of Superman (as everyone knows, that challenge is Action Comics #1, which was revealed a yr earlier), Superman #1 is nonetheless the primary challenge within the first self-titled collection for Superman or for any superhero, for that matter. It is, surely, some of the vital comedian books of all time. Most of us won’t ever even maintain a duplicate in our arms, a lot much less really personal one.

There are solely 74 common blue labels on the CGC Census.

Not surprisingly, this guide is exceptionally uncommon. CGC has solely graded 177 copies of this challenge, most of that are restored (97). Is it attainable there are nonetheless uncooked copies of this challenge on the market within the wild? Anything is attainable, however I discover it extremely unlikely that any collector wouldn’t have submitted this guide for grading for funding and preservation functions.

As for this explicit copy on sale at PWCC, it’s one in all solely 74 common blue labels on the Census. And whereas a 3.0 sometimes qualifies as “low-grade,” a 3.0 of Superman #1 is really within the prime 36.5%. Nearly half of the 74 common blue labels on the Census are 1.5 or worse grade, and there are solely 22 common blue labels that exist in the next grade.

You’d suppose it will be tough to cost this challenge as a result of a 3.0 of Superman #1 is so uncommon; nevertheless, surprisingly, there is latest gross sales information for 3.0s. This explicit copy (#3702096001) has really exchanged arms a number of instances over the previous few years and has an attention-grabbing gross sales historical past. The first recorded sale of #3702096001 occurred practically three years in the past in December 2020. It offered for $310,000 throughout an public sale hosted by ComicConnect.

I’ve to tip my hat to this purchaser. Not solely did the customer buy this guide simply earlier than the largest “bubble” in comedian guide investing historical past would happen in 2021, however the purchaser additionally had the wherewithal to promote simply earlier than that bubble would “pop” in early 2022. The ComicConnect purchaser offered #3702096001 simply three years later in February 2022 for a record-setting $720,000 throughout an public sale hosted by Goldin.

Experts could advise towards “timing the market,” however this purchaser/vendor timed it completely and walked away with an enormous revenue even with Goldin’s purchaser’s premium. At the height of the comedian growth, many traders held onto to their comics considering values would proceed to rise, however this individual each purchased low and offered excessive.

Remarkably, #3702096001 would promote but once more simply eight months in a while Goldin for $420,000.

When you issue within the purchaser’s premium, this individual doubtless took a lack of over $300,000 on this sale. Ouch! Clearly, they purchased excessive, and for no matter purpose, had been compelled to promote low. It may’ve been worse although as a result of yet one more 3.0 offered in late June of 2023 for $360,000. According to GoCollect, the FMV of a 3.0 copy of Superman #1 is now $380,000.

Considering the entire latest gross sales information, it seems as if the listed worth for the Superman #1 on PWCC is a bit too excessive. On the opposite hand, the consignor is prepared to just accept gives which suggests a purchaser may buy this guide for lower than the asking worth of $449,000.

At the identical time, it’s vital to keep in mind that this is some of the extremely sought-after books of all time and can proceed to rise in worth over the lengthy haul. Fifteen years in the past, 3.0s offered for round $40,000.