Although Superman #1 doesn't contain the first appearance of Superman (as we all know, that issue is Action Comics #1, which was published a year earlier), Superman #1 is still the first issue in the first self-titled series for Superman or for any superhero, for that matter. It is, without a doubt, one of the most important comic books of all time. Most of us will never even hold a copy in our hands, much less actually own one.
There are only 74 universal blue labels on the CGC Census.
Not surprisingly, this book is exceptionally rare. CGC has only graded 177 copies of this issue, most of which are restored (97). Is it possible there are still raw copies of this issue out there in the wild? Anything is possible, but I find it highly unlikely that any collector wouldn't have submitted this book for grading for investment and preservation purposes.
As for this particular copy on sale at PWCC, it's one of only 74 universal blue labels on the Census. And while a 3.0 typically qualifies as "low-grade," a 3.0 of Superman #1 is actually in the top 36.5%. Nearly half of the 74 universal blue labels on the Census are 1.5 or worse grade, and there are only 22 universal blue labels that exist in a higher grade.
You'd think it would be difficult to price this issue because a 3.0 of Superman #1 is so rare; however, surprisingly, there is recent sales data for 3.0s. This particular copy (#3702096001) has actually exchanged hands several times over the past few years and has an interesting sales history. The first recorded sale of #3702096001 occurred nearly three years ago in December 2020. It sold for $310,000 during an auction hosted by ComicConnect.
I have to tip my hat to this buyer. Not only did the buyer purchase this book just before the biggest "bubble" in comic book investing history would occur in 2021, but the buyer also had the wherewithal to sell just before that bubble would "pop" in early 2022. The ComicConnect buyer sold #3702096001 just three years later in February 2022 for a record-setting $720,000 during an auction hosted by Goldin.
Experts may advise against "timing the market," but this buyer/seller timed it perfectly and walked away with a huge profit even with Goldin's buyer's premium. At the peak of the comic boom, many investors held onto to their comics thinking values would continue to rise, but this person both bought low and sold high.
Remarkably, #3702096001 would sell yet again just eight months later on Goldin for $420,000.
When you factor in the buyer's premium, this person likely took a loss of over $300,000 on this sale. Ouch! Clearly, they bought high, and for whatever reason, were forced to sell low. It could've been worse though because yet another 3.0 sold in late June of 2023 for $360,000. According to GoCollect, the FMV of a 3.0 copy of Superman #1 is now $380,000.
Considering all of the recent sales data, it appears as though the listed price for the Superman #1 on PWCC is a bit too high. On the other hand, the consignor is willing to accept offers which suggests a buyer could purchase this book for less than the asking price of $449,000.
At the same time, it's important to remember that this is one of the most highly sought-after books of all time and will continue to rise in value over the long haul. Fifteen years ago, 3.0s sold for around $40,000.
Do you think the price is right for this CGC 3.0 copy of Superman #1? Please let our community know in the comments section below!
