GeekOut

Comic book collectors' holy grails

Comic book collectors with a couple million dollars to spare are currently bidding on the highest quality condition issue of "Action Comics" #1 known to exist.

The issue is a part of comic book, not to mention pop culture, history, as it is the first real appearance of a superhero in comics (Superman, of course).

The current bid is more than $1.3 million as of this writing, and the auction will end Wednesday evening. The auctioneers at ComicConnect.com will not confirm or deny that it is the issue that had been missing from Nicolas Cage's collection for 11 years. Its condition is graded on the CGC scale (the industry standard created by ComicConnect.com) as a 9.0 out of 10.

If it sells for more than $1.5 million, it would beat the record previously set last year by another copy of "Action" #1.

Why do collectors shell out big bucks for these books? Click through the gallery above for the answer.

UPDATE: Bidding on "Action Comics" #1 has now exceeded $1.5 million.

FINAL UPDATE: This comic book sold for a record $2,161,000.