The issue has a CGC (Certified Guaranty Company) grade of 7.0 and was part of Sparkle City Comics’ “Golden Age Auction” which features other rare comics such as ‘Superboy No. 1’, ‘Batman No. 1’, and ‘Sensation Comics No. 1’ which featured the first appearance of Wonder Woman.
Prior copies of ‘Action Comics No. 1’ have sold at auction for record numbers.
A family that was facing foreclosure in 2010 discovered a copy of the rare comic boxed away with other comic books since the 1950s in their basement.
This issue (grade a 5.0) was expected to sell for at $250,000 and wound up selling for $436,000 and saved the family from losing their home.
In December, 2011 a near-mint copy (graded a 9.0) that was once owned by actor Nicolas Cage sold for $2.2 million dollars.
The issue was acutally stolen from Cage in 2000 only to turn up earlier in 2011 in a storage shed in California that had been purchased in an auction.
Thanks to James Massey for the lead on this story.