Superman's debut comic book sells in NYC for $1M

A rare copy of the first comic book featuring Superman sold yesterday for $1 million, smashing the previous record price for a comic book.

A 1938 edition of Action Comics No. 1, widely considered the Holy Grail of comic books, was sold from a private seller to a private buyer, neither of whom released their names. The issue's cover features Superman lifting a car and originally cost 10 cents.

The transaction was conducted by the auction site ComicConnect.com. Stephen Fishler, co-owner of the site, orchestrated the sale. Fishler said that the seller was a "well-known individual" in New York with a pedigree collection.

"It's considered by most people as the most important book," said John Dolmayan, a comic book enthusiast and dealer.

Others have sold for more than $400,000, Dolmayan said, but this copy fetched a much higher price because it's in better condition. There are only about 100 copies of Action Comics No. 1 believed to be in existence. - AP