Rare Superman comic book sells for $175,000

MINNEAPOLIS - A rare copy of the comic book featuring Superman's first appearance that went undiscovered for over 70 years in the insulation of a Minnesota house has been sold for $175,000.

Stephen Fishler, CEO of ComicConnect.com, says the winning bidder in the online auction was a "hard core, golden age comic book collector" who was looking for a lower-grade, unrestored copy of Action Comics No. 1. The buyer's name was not released. Bidding closed Tuesday.

Fishler says a copy in better condition could have cost over $1 million.

He estimates there are only around 100 known copies of Action Comics No. 1, which was published in 1938.

David Gonzalez found the copy in the ceiling insulation of a house he was restoring in the small town of Hoffman.

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