Comic book sells for $1m - 24/02/2010

A limited edition print of a comic first published in 1938 has been auctioned for $1 million in the US.

A copy of Action Comics # 1, which is much coveted by collectors as it marks the first appearance of Superman, was bought by a private collector on auction site ComicConnect.com.

Neither owner nor buyer has chosen to disclose their name.

Another copy of the edition sold for $317,200 in 2009, a figure which was widely regarded as a record.

That this sale comfortably eclipses that figure is explained by the lot's condition, according to Stephen Fishler, founder of the auction site.

There are believed to be only 100 or so copies of the comic in existence today with just one other in such good quality as this item.

Vincent Zurzolo, the co-owner of the online comic book auction house, has heralded the purchase as "the single most important event in comic book history".

He added: "I knew that some day there would be a seven figure comic book sale and I dreamt of being part of that historic moment. But I didn't think it would happen so soon."

A copy of the rival to Action Comics #1's status as the most important comic in history is also set to sell this week.

Detective Comics #27, which premieres Batman, has already attracted bids of $400,000, a figure which is expected to rise by the time the auction closes on Thursday. Both copies originally sold for 10 cents.