COMMODITY FETISH

Superman's 1938 first appearance sells for a record $3.25M

April 7 (UPI) -- A 1938 comic book featuring the first appearance ofSuperman sold for a record-breaking $3.25 million in an auction.

Online auction house ComicConnect.com said Action Comics #1, which bore a price of only 10 cents when it was released in 1938, fetched a high bid of $3.25 million, setting a new record for the highest price paid for a comic book.

The auction house said the seller had purchased the comic three years ago for a sum that was $1 million less than what it sold for in the auction.

Vincent Zurzolo, co-owner of ComicConnect, said in a news release that the comic is in "near-pristine condition," making it an especially rare find for collectors