Six-Figure Profit for Seller Through New Heritage Service
(Dallas, Texas) -- A pristine condition copy of Flash Comics #1 sold privately for $450,000 on March 12, 2010 through an efficient new service designed to unite successful bidders from earlier auctions with eager new buyers, according to Heritage Auctions of Dallas, Texas.
The seller had originally obtained it for $273,125 in a January 2006 Heritage auction, and the buyer initiated this latest purchase directly through the new "Make Offer to Owner" (MOtO) feature available in Heritage's Permanent Auction Archive at HA.com.
"This is the finest known copy of the 1940 DC Comics first appearance of the Flash and Hawkman,” said Ed Jaster, Vice President of Heritage Auctions. “It’s graded by CGC as Near Mint Plus 9.6, and it was part of the famous Edgar Church 'Mile High' Collection, universally considered the finest comic book collection of all-time."
Names of the buyer and seller were not released.
"The offer to purchase Flash #1 reached Heritage through MOtO, a new feature still in Beta test mode on our web site," said Greg Rohan, President of Heritage Auctions.
"Any Heritage member who sees an auction lot from a past Heritage auction can anonymously offer the owner a profit through the MOtO feature,” said Rohan. “Owners can set a fixed price minimum, or opt out completely from receiving offers. In this case, the owner couldn't resist this very fair offer for a six-figure profit after four years. He plans to use the money to purchase other items for his comic book collection."
"Since this is, by far, the finest known copy of Flash #1, one of the 10 most valuable comic book issues, the buyer recognized this as a unique opportunity," said Jaster. "We created MoTO with this sort of unique item in mind. We'd often hear from collectors who are new to the hobby or are expanding into another area of collectibles and were frustrated because items they'd like to own were previously sold years earlier. With this new service, many of those top items may be available now as long as the buyer is willing to pay a fair price."
Flash Comics #1 Mile High pedigree (DC, 1940) CGC NM+ 9.6 Off-white to white pages. One of the most important comic books of any age, Flash Comics #1 featured the origins and first appearances of the Flash, Hawkman, Shiera Sanders, the Whip, and Johnny Thunder. This milestone issue is currently ranked as the eighth most valuable comic book of all, its value appreciating more during 2004 than all but three of the Top 25 Golden Age Books. And this remarkable copy offers yet another example of the significance of Edgar Church's collection. To date, CGC has certified merely 13 unrestored copies, only two others grading above VG/FN 5.0, with just one of those exceeding FN+ 6.5. Sheldon Moldoff contributed cover and interior art. Along with the Pay Copy of Marvel Comics #1, this resides near the top of our auction highlights. Overstreet 2005 NM- 9.2 value = $110,000. CGC census 12/05: 1 in 9.6, none higher.