First Superman comic book sells for $2 million

The first Action Comics featuring Superman sold at auction for a record $2.16 million. It is reportedly the same comic book that was stolen from Nicholas Cage a decade ago and turned up in a storage shed earlier this year.

From Michael Cavna:

The near-mint-condition copy of Action Comics No.-1 easily beat the record of about $1.5-million set in 2010 by the same issue, according to ComicConnect and sister partnership Metropolis Collectibles, which also conducted last year’s record sale.

Michael also reports that that same comic book set records before at auction. In 1992 it sold for $86,000 and $150,000 in 1997. According to my back of the envelope math that means that its value from 1992 to 1997 increased 58% or just shy of 12% a year. In comparison, the stock market (S&P) averaged 21%. During the second period (1998 to 2011) the value of the comic increased 1,440% or 103% a year. The stock market? It has averaged just under 6% (four years had negative returns 2000, 2001, 2002, 2008).

So moral of the story? During a periods of a Democratic administration, buy stocks. During years of a Republican administration: buy comic books!