The $317,200 bid is one of the highest prices ever paid for a comic book, probably a testament to the volume's rarity and excellent condition, said Stephen Fishler, co-owner of the auction site ComicConnect.com and its sister dealership, Metropolis Collectibles.
John Dolmayan, drummer for the rock band System of a Down and a dealer of rare comics, registered the winning bid late Friday for a client. He declined to identify the client.
"This is one of the premier books you could collect," he said in a telephone interview. "It's considered the Holy Grail of comic books."
Only about 100 copies of are known to exist and this one is one of just a few that remain untouched, in mint condition.
Fishler said, "Maybe in a booming economy, it would have done a hundred grand more, but in this economy, I think the price is great."
The 1938 edition of Action Comics No. 1, whose cover features Superman lifting a car, had been purchased by its previous owner in the early 1950s at a secondhand store for a measly 35 cents.
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