An iconic copy of Action Comics #1, featuring the first appearance of Superman, is currently setting records in an ongoing Heritage Auction, with a high bid of $4.2 million and expected to exceed $5 million after the buyers’ premium. This highlights the continued enthusiasm and high values for rare comics and collectibles, despite some reports of a market slump post-COVID. Barry Sandoval, VP for Comics at Heritage Auctions, notes that the current bidding is in line with expectations for such a rare and sought-after item.
Aside from the Action Comics #1, the auction also features other rare items of interest to high-end collectors, including a very high-grade copy of Iron Man’s first appearance and lower-grade or restored copies of other highly prized comics. Underground comix artist Denis Kitchen has put his extensive collection of original artwork on the block, including pieces by legendary creators like Will Eisner and Robert Crumb. An interesting Superman-related historical artifact from Kitchen’s archive is also attracting attention, a three-page document from 1934 signed by Jerry Siegel, one of Superman’s co-creators, which reveals a different early collaboration with Russell Keaton.
The discovery of the Siegel letter sheds new light on the creation of Superman, showing Siegel’s early thoughts on the character and his collaboration with Keaton on a different version of Superman rooted in pulp science fiction. The historical significance of the letter has grown over the years, and its uniqueness and rarity make it difficult to determine its value. The recent Heritage auction hosted by author Neil Gaiman, featuring art and memorabilia from his career, was also successful, clearing over $1 million with notable items like a depiction of the Sandman character Death by Moebius selling for over $85,000.
Despite some reports of a market slump for collectibles post-pandemic, Heritage Auctions has noted that prices for more generic items have softened, compared to the record-breaking prices seen during the pandemic. Collectors seem less enthusiastic about recent comics and issues featuring characters rumored to be part of movies or TV series, possibly due to superhero fatigue in pop culture. However, the auction house remains optimistic that headline-making sales and unique items will continue to attract collectors and bring money into bidding. These auctions have seen a large number of participants, with about 1400 different people placing bids.
While the wider collectibles market may be experiencing a downturn, the record-breaking prices seen at the ongoing Heritage Auction for rare and sought-after items like the Action Comics #1 highlight the resilience and continued interest in high-value collectibles. The success of high-profile auctions, including the recent Gaiman event, suggests that unique and historical items can still attract deep-pocketed collectors and drive bidding. Heritage Auctions hopes that the excitement and buzz surrounding these auctions will continue to bring money off the sidelines and reinvigorate interest in the collectibles market, despite the challenges faced during the pandemic and beyond.
