Action Comics #1 Sells for $317,200

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Action Comics #1 Sells for $317,200

By: Stephen Schleicher | March 16th, 2009

Action Comics #1

It went less than speculators had originally thought, but $317,200 is a pretty good take on an issue that cost the owner $.35 when he originally purchased it at a second hand store 50 years ago. The unrestored Action Comics #1 (one of 20 in existence) was purchased by John Dolmayan, the drummer for System of a Down.

But here’s where it gets interesting – Dolmayan, is also a dealer of the rare comic books, and instead of purchasing the 1938 issue for himself, JOhn purchased it on behalf of an unidentified client.

“Maybe in a booming economy, it would have done a hundred grand more, but in this economy, I think the price is great,” said Stephen Fishler co-owner of ComicConnect.com.

via AP