One comic book is more expensive than 40 apartments in Warsaw. An absolute record was broken
“Superman #1” from 1939 is officially the most expensive comic book in the history of the world. The item, in almost perfect condition, was auctioned for a staggering amount of USD 9.12 million (approx. PLN 33 million). The comic book, whose cover price was 10 cents at the time of its debut, lay forgotten in the attic for decades, and the family thought of its existence as a legend.
Until recently, the $6 million barrier seemed to be the peak of the collector's market (this is how much was paid in 2024 for “Action Comics #1”). But the auction that ended Thursday at Heritage Auctions auction house redefined the market. An inconspicuous notebook from the 1930s has become more valuable than luxurious mansions or a fleet of supercars.
The record copy is “Superman No. 1” – the first solo title of the Man of Steel, published in 1939 and considered one of the “big three” comics, alongside “Action Comics No. 1” (Superman's debut) and “Detective Comics No. 27” (the first Batman).
A story like a movie
The comic book was discovered in northern California by three brothers who were cleaning out the house of their deceased mother. For years, the woman mentioned that she had “rare comic books”, but the family treated these stories with a pinch of salt, considering them to be a family myth. The truth turned out to be shocking. In an old box, tucked among yellowing newspaper clippings from the 1930s and '40s, lay “Superman #1.” It was the specific storage conditions (no light, stable humidity) that allowed the paper to survive in almost perfect condition. In the world of almost hundred-year-old paper, this is the equivalent of “mint state”. For comparison: most of the preserved copies from that period look like waste paper.
The grading company CGC rated the issue's condition at 9.0 on a ten-point scale – it is the highest-graded surviving copy of this issue and one of only seven known “Superman No. 1” comics with a grade of at least 6.0. It is worth mentioning that many copies were destroyed already in 1939, because the publisher encouraged children to cut out the back cover with the image of Superman and hang it as a poster. Additionally, during World War II, waste paper collections were organized, destroying thousands of comic books.
Comics as an alternative investment
The record of “Superman #1” broke the previous market leader – a copy of “Action Comics #1” (Superman's debut from 1938), which was sold in 2024 for $6 million. In recent years, other “holy grails” of collectors have also achieved high prices, including: “Amazing Fantasy #15,” featuring Spider-Man’s first appearance, fetched $3.6 million at auction in 2021. The market of top comics from the so-called The Golden Age (1930s and 1940s) is today a segment of alternative investments, such as works of art or rare coins.
What distinguishes this investment from traditional ones?
- Low correlation with the market. The price of the rare Superman does not fall when the WIG20 or S&P 500 falls.
- Supply is tight. It is impossible to “reprint” the original from 1939. The number of copies available can only decrease.
- Entry barrier. Although top models cost millions, this market is also growing in lower segments, offering rates of return often exceeding bank deposits.
- Recognition of pop culture brands (Superman, Batman, Spider-Man).
- Inflow of capital from wealthy collectors and investors who are looking to diversify their portfolio beyond classic financial assets.
Comics market experts point out that this is a very narrow segment, not very liquid and susceptible to fads. Record transactions concern single, almost museum-like pieces that hit the market once a decade. From the point of view of an average investor, it is more realistic to participate in the market of contemporary comics or collector's editions, but there the potential rates of return are much lower and carry the risk of unsuccessful titles.
USD 9.12 million in Polish conditions
The price of USD 9.12 million at the exchange rate of approximately PLN 3.68 per dollar means over PLN 33.5 million. This is an amount that is even more impressive in Polish reality than the “millions of dollars” themselves.
For the sake of order, it is worth converting. $9 million is:
- 40 apartments in Warsaw with an area of 50 m². Reports indicate that the average price of such an apartment is approximately PLN 837,000. zloty.
- 180 new cars from the showroom. The average selling price of a new passenger car in Poland is approximately PLN 180,000-185,000. zloty.
- About 110 kilograms of pure gold.
- Patek Philippe Grandmaster Chime watch, but only in a cheaper version for about PLN 26 million. Because the most expensive one is still PLN 125 million.
- Basic version of the Bugatti Chiron. The base version costs about $3 million (about PLN 12 million), so it will be enough for two. However, the prices of individual variants vary – e.g. Bugatti Chiron Super Sport costs PLN 25 million.
- A new, luxurious motor yacht, approximately 60-70 feet long (e.g. Sunseeker, Azimut or Princess brands). It will not be a “superyacht” with a helicopter landing pad, but a very comfortable unit. And with a crew.
- A private island in the Caribbean with an area of approximately 10-20 hectares. With a ready residence, electricity and a landing pad.
- Vineyard in Tuscany or Bordeaux: A functioning vineyard with a historic villa, producing its own wine.
- About 10 McDonald's restaurants in the franchise (the cost of one is on average PLN 2.5-3 million plus initial fees).
- The median monthly gross salary in the national economy is approximately PLN 7.1 thousand. zloty. The record comic is the equivalent of approximately 4.7 thousand. such salaries – that is, nearly 400 years of work with earnings at today's median level.
In other words, a single 10-cent notebook from 1939 has become an asset that, in Polish reality, can be compared to a portfolio of several dozen apartments for rent.
Pop culture meets finance
It is worth adding that such high prices for comics are limited to American notebooks for now. European comics are still much cheaper, and auctions are mainly “fragments” – original boards. For example, last Friday at an auction in Neuilly-sur-Seine, half a board from “Asterix” was sold for over PLN 73,000. euro (above estimate, but not a world record).
There is also an original board from the comic book “Tintin in the Land of Black Gold” from the times when Tintin was still published in newspapers. The bidding started at PLN 260,000. euro, but it did not reach the seller's reserve price, so the board formally remained unsold. The seller expected a minimum of PLN 300,000. euro, and specialists expected that it could go for up to half a million.
From the Polish perspective, the amount of over PLN 33 million for a comic book seems like an economic fantasy. But the market for record-breaking comics is now entering the same league as auctions of contemporary art or classic cars. For some wealthy investors, it is a way to build a portfolio of alternative assets. For the rest – a curiosity that clearly shows how a once ordinary product of mass entertainment can become one of the most expensive paper items in the world.
