What’s with all the million dollar comics?

It’s enough to make Clark Kent smell a bigger story.

action_comics1.jpgYesterday a copy of Action Comics No. 1 sold to a private collector for $1.5 million at the auction website ComicConnect. This edition of Action Comics No. 1 is considered the Holy Grail among collectors because it features the first appearance of Superman and because it is one of the few remaining in such excellent condition.

The sale comes just two short weeks after two back to back comics sales rocked the collectibles world. In February, ComicsConnect sold a lesser quality version of Action No. 1 for $1 million. Three days later Heritage Auctions sold a copy of Detective Comics No. 27 for $1.075 million. That issue features the first appearance of Batman.

Until these sales, the highest amount paid for a comics was $317,000 for a copy of Action Comics No. 1.

So what’s driving these high-flying prices? On the surface it looks like comics fans have decided to up the ante and put big money behind the best books out there.

It also looks like there’s a bit of competition between auction houses to see who can lay claim as the seller of history’s most valuable comic.