This particular comic is highly coveted both for being rare and for being the debut of Superman, who is apparently some sort of flying, caped character that is popular among comic book fans.
The CEO of ComicConnect.com, which held the auction for the book, is not releasing the buyer’s name, but did tell the AP the high-bidder had recently been on the hunt for an Action Comics #1 in the lower condition range. Copies of the same book in better condition can sell for at least $1 million, with one copy going for more than $2 million in 2011. That was the most ever paid at auction for a single book.
This copy could possibly have gone for more than the $175,000, had the back cover not been torn when one of the homeowner’s in-laws got a little too grabby with it.
The homeowner will reportedly have to share about half of the sale price, but that’s still $87,500. Even after taxes, that’s a mammoth return on investment for the $10K he paid for the house.