1 ..." src="http://upload.wikimedia.org/wikipedia/en/f/fe/Action1.JPG" alt="Superman making his debut in Action Comics #1 ..." width="300" height="416" />

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In a private auction this week, an anonymous bidder spent $1 million for the first issue of Action Comics, which originally sold for 10 cents back in 1938. According to MarketWatch, the million dollar sale means this issue of Action Comics increased in value 10 million times since it’s original publish date, and three times just in the last year. The last collector to purchase a copy only paid #317,000.

“They said it couldn’t be done. They said that no comic book — no matter how rare — would ever sell for $1,000,000. This week, they were proven wrong. And in the midst of a recession, no less!” exclaims a triumphant press release from ComicConnect.com, the Web site that arranged the auction.

“The excellent condition of this particular comic is the primary reason it sold for such a sum. Rated at 8/10 for its quality, the copy is in far better condition than most of the approximately 100 that remain in existence,” explains Mitchell Davids at the blog Lovereading.

The first issue of Action Comics briefly sets up the Superman character with traits that we’ve all come to know about him. He first appears in his crashed spacecraft as a baby, and then as a child shows amazing “feats of strength” and as a young man is capable of leaping “1/8th of a mile” (which isn’t quite ‘tall buildings in a single bound’) and can fun faster than “an express train” (which isn’t quite ‘faster than a speeding bullet’). The rest of the comic which is a short 12 pages, introduces Supes’ alter-ego Clark Kent, his co-worker Lois Lane and “the mob” – a pretty non-threatening villain when compared to his later enemies.

This issue is considered Superman’s official debut, but is different that the character from 1933 from Jerry Siegel and Joe Shuster from “The Reign of Super-Man”. That version is far similar to Lex Luthor than our beloved super hero.

This isn’t the first comic to command a high sale price. The Los Angeles Times featured a group of other debut issues to sell for a rich sum: Amazing Fantasy #15 (the debut of Spider-Man for $227k, the Fantastic Four #1 for $52k and All Star Comics #8 (the debut of Wonder Woman) for #20k.