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March 18, 2009 > Rare Superman comic sells for $317,200

Rare Superman comic sells for $317,200

By David B. Caruso, Associated Press Writer

NEW YORK (AP), Mar 14 _ A rare copy of the first comic book featuring Superman has sold for $317,200 in an Internet auction. The previous owner of Action Comics No. 1 bought it for less than a buck.

It's one of the highest prices ever paid for a comic book, a likely testament to the volume's rarity and its excellent condition, said Stephen Fishler, co-owner of the auction site ComicConnect.com and its sister dealership, Metropolis Collectibles.

The winning bid for the 1938 edition, which features Superman lifting a car on its cover, was submitted Friday evening by John Dolmayan, drummer for the rock band System of a Down, according to managers at ComicConnect.com.

In addition to being a musician, Dolmayan is a dealer of rare comic books. The auctioneers said he acquired the Superman comic on behalf of an unidentified client.

``I imagine it's someone from the entertainment world,'' said Vincent Zurzolo, chief operating officer at ComicConnect and Metropolis Collectibles.

Only about 100 copies of Action Comics No. 1 are known to exist and they seldom come up for sale.

``Maybe in a booming economy, it would have done a hundred grand more, but in this economy, I think the price is great,'' Fishler said.

The man who had previously owned the book purchased it in a secondhand store in the early 1950s when he was nine years old.

He paid 35 cents.

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