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Action Comics #1 may sell for $2 Million

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The Straight Story Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-12-11 10:25 AM
Original message
Action Comics #1 may sell for $2 Million
Nic Cages Stolen Superman Comic Poised to Break Auction Record
The first appearance of Superman stolen in 2000 and recovered in April could sell for $2 million.

Nicolas Cages nearly-pristine copy of Action Comics no. 1 featuring the first appearance of Supermanstolen from his home in 2000 and just recovered in April in a storage lockeris poised to become the most expensive comic ever sold on the open market during an online auction now being conducted by comicconnect.com.

The auction started today and ends on Nov. 30th. After just a few hours bidding has already reached $900,000. The current record is $1.5 million for a less well-preserved copy of Action Comics no. 1 sold in March 2010.

Few comics have as interesting or complicated a back story as Cages copy of Action Comics no. 1. Certified Guaranty Company, the leading grader of the quality of collectible comics, recently assigned this copy a grade of 9.0, making it the best-preserved publicly-known copy of Supermans first appearance. Approximately 100 copies of Action Comics no. 1 remain in existence. Experts believe only about five others, all in private hands, are of comparable quality to this copy. Sothebys sold this comic at auction in 1992 for a then-record $82,500. Cage bought it in 1997 for about $150,000.

On January 21, 2000, Cage reported the comic stolen to the Los Angeles Police, along with high-grade copies of Batmans first appearance in Detective Comics no. 27 and Marvel Mystery no. 71. According to an account Comicconnect CEO Stephen Fishler posted on a collectors website, Cage had the books displayed in security frames mounted to the wall. The exact moment of the theft is unknown but the comics had possibly been missing for a week when Cage discovered the frames were empty. The Marvel Mystery resurfaced a few months later but the other two comics remained lost.

http://www.hollywoodreporter.com/heat-vision/nic-cage-s...
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wtmusic Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-12-11 10:31 AM
Response to Original message
1. Now at $1,302,000
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Earth_First Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-12-11 10:34 AM
Response to Original message
2. I don't understand how stolen property can be auctioned...
what am I missing here?
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CatWoman Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-12-11 10:35 AM
Response to Reply #2
3. took the words out of my mouth, er, fingers
:)
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The Straight Story Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-12-11 10:36 AM
Response to Reply #2
4. It was found:
Fishler would not confirm this is the Action Comics stolen from Cage but the provenance of the comic--from its sale in the early 1990s to its theft in 2000matches the history of the Cage comic. Comicconnect is selling it for the current owner, which is still believed to be Cage.
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hughee99 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-12-11 10:36 AM
Response to Reply #2
5. I believe it was stolen, then recoverd, and is now being auctioned. n/t
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wtmusic Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-12-11 10:36 AM
Response to Reply #2
6. It was recovered by its original owner. nt
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