First Superman Comic Sells For $3.25 Million: Bargain Or Bull?

[mawnansmiff]

Originally selling for 10 cents in 1938 (when many thousands were printed) some guy has just splashed out $3.25 million for the comic marking Superman's debut.

Did he get a bargain or was he bamboozled?

$3.25 million could buy one heck of a lifestyle, though I suppose the buyer already has one of those

Rare Superman comic sells for record $3.25m - BBC News

Regards,

Jay.

 

[boatme99]

If you've got the money, spend it however you want.

It always pisses me off when people disparage wealth people for spending their money.

 

[mikethompson]

I wouldn't pay that, but some people wouldn't pay $3/can for beer. Everything is relative.

 

[anotherbob]

considering the rarity of it not a bad deal. There are more lots of 3 million and so dollars around then copies of that comic in good condition.

 

[sablebrush52]

It's not a bargain. At that level of collecting there are no bargains. It may turn out to be a good investment or a significant loss down the road.

The seller had bought this copy for a little over $2 million about 3 years ago, so for the seller it was a good investment.

But several years before that, a copy had sold well above $3 million, so there's clearly risk and volatility involved.

Collectibles like these are for the stiffie they give the possessor more than anything else. There's little to no intrinsic value.

A far better investment would be good psychiatric help.

 

[warren]

Yup! It's simply an investment and comes with "bragging rights." It also comes with a lot of disparaging comments regarding the sanity of the buyer who, incidentally, probably couldn't care less what others think. So, only time will tell as to whether or not it was a bargain price. I'm guessing his heirs will consider it to have been a smart investment.

 

[KafkaStoleMyBike]

I read about a stamps going for close to $10mil recently. I guess it’s worth whatever people pay for it, and I’m sure we all have our own interests that some consider ludicrous money pits...

*cough cough*

 

[mso489]

On the face of it, if you don't collect comic books, it looks demented. On the other hand, if you understand that the comic book has become a cultural icon, imitated in fine art paintings, sourcing multi-million dollar movies, and launching thousands of storefront comic book stores that sell collectible comics from the entire history of the form, you might think again. Collecting has become comparable to coins and stamps, and the rare ones are widely coveted. Any of these ultra high price auction items can be questioned as to price. Think of the hospital or school you could have built, the biomedical laboratory you could have endowed, etc. Should a popular music star earn fourteen million in a year? Some do, so you have to understand that in considering what is valued, and how.

And ... at any moment, the owner could donate it to the Smithsonian and take it over a decade as an incremental tax write-off, so consider the possibilities.

 

[mso489]

Opps, ran out of edit time. As I was saying ... Clicking on the link to see the art, I think the visual is pretty wonderful -- the contrasting color, the action, the electric type face. This is the material that set off the whole pop art school in the fine arts. If you're going to spend "too much" on a dime comic book, this looks like a good one.

 

[kcghost]

It's a bragging rights investment but it's the guy's money to spend how he wishes.

 

[telescopes]

I've read the original. It simply isn't that good.

 

[telescopes]

There comes a point when the concentration of resources under the control of single individuals outweighs any positive value society might see fit to provide those individuals control over those resources . When it gets to far out of wack , it does not end well for those individuals or society. We are approaching that tipping point.

 

[crawdad]

Ask @jiminks.

 

[Chasing Embers]

Spiderman's first appearance is valued at $1.1 million. Were I in a financial position to buy it i certainly would.

 

[JimInks]

Ask @jiminks.

Like Honus Wagner tobacco cards, there aren't many copies of Action #1 that exist, though there is more of them than there are Wagner baseball cards. I have held three in my hands at one time or another, and brokered the sale of one thirty years ago. It was in decent condition, and would not be worth over three million today because it wasn't a mint copy. But whoever owns it now may find that someday it will be worth a few million. You can never predict how these things will go.

People with lots of money can afford the indulgences of their hobbies. I've seen many things go for sale at what I thought were outrageous prices, but with the passage of time, those prices would be bargains today for many collectors.

 

[boatme99]

There comes a point when the concentration of resources under the control of single individuals outweighs any positive value society might see fit to provide those individuals control over those resources . When it gets to far out of wack , it does not end well for those individuals or society. We are approaching that tipping point.

Are you intimating wealthy people shouldn't have control of their own resources?

 

[gervais]

People need to understand that 3 million to some people is like you and I having $100 in our pocket and buying a pipe. There are alot of extremely wealthy individuals that collect useless shit, and the money they shell out for it is pocket change to them. If I were that wealthy, I'd probably buy it just for the hell of it!

 

[Old School 3319]

I dont keep much of value, but more sentimental. My most prized possessions are probably useless to most but are worth the world to me. Maybe the comic means something to the buyer, but thats not for me to judge. I have a dog tag collection that wouldnt mean a thing to most but I would never sell them

 

[telescopes]

Are you intimating wealthy people shouldn't have control of their own resources?

"own". Own is a societal concept. Resources. Whose resources? The highways, streets, the sewers, the public utilities, the workforce that make production possible? Society determines what is an equitable share for anyone person to control at any given time. When an individual disputes society's decision and then demonstrates the means to enforce their control over "their" resources, they become in effect a warlord. Control over resources is a continuing conversation among members of a society. It is a joint decision and it isn't one that someone gets to opt out just because they disagree with the decision of those in control.

Am I intimating that wealthy people shouldn't have control over "their " resources?

Let me be clear. It is not a decision I get to make. But I am saying clearly that when society believes the balance is out of wack, people start getting wacked, Meaning that when a comic book at 3 million no longer makes sense to the person making the concrete for the driveway of the home that the comic book will be displayed, corporate taxes go up, individual taxes go up, and other measures meant to redistribute resources are enacted. It's not my opinion. It is political science 101.

 

[sablebrush52]

People need to understand that 3 million to some people is like you and I having $100 in our pocket and buying a pipe. There are alot of extremely wealthy individuals that collect useless shit, and the money they shell out for it is pocket change to them. If I were that wealthy, I'd probably buy it just for the hell of it!

I know some extremely wealthy people. None of them pick up the check. A few of them even skimp on their share of the tip.
None of those wealthy people are cavalier about money, quite the opposite. If they make a major purchase it's because they also feel confident that they will either make a profit, or get their money out, when they sell it.