Photo by Chuck Cook Photography This nearly-pristine copy of Action Comics #1 was purchased for $3.2 million dollars in August by Metropolis Collectibles in New York City.
When a person attends a comic book convention, there's an expectation of seeing people in Spider-Man T-shirts and brightly-colored Spandex costumes. However, at the Metropolis Collectibles booth in New York City, the dress code is more Wall Street than Wolverine.
Sharply dressed men in suits and ties engage in intense conversation, peering intensely at old comics safely ensconced in hard, clear, plastic cases. Some are those presented for consideration by hopeful sellers. At the other end of the counter, a man in who appears to be in his fifties quietly passes over a $3,600 check to purchase one of the offerings. No one at the booth appears to be younger than 40.
At the top of each of the plastic comic cases in bold lettering is a CGC grade. CGC (short for Certified Guaranty Company, LLC) is a third-party service that evaluates comic books and grades them according to their condition by specific criteria, just as a jeweler might grade a diamond. In diamonds, one looks at cut, color, clarity and carat weight. In comics, evaluation criterion includes cover, color and condition.
Everything is looked at during CGC's grading process. Are there creases in the cover? How white are the pages in areas that were not inked? Are there color breaks or misaligned staples in the spine? Does there appear to have been any restoration work done and what was the quality of that work? After evaluation, the comic is encapsulated in the clear, hard plastic protector and a grade from 0 to 10 is assigned, with "10" being assigned only to completely flawless comics.More »