Golden Age Comics Collection Keeps Its Promise With Earth-Shattering $7 Million Debut
First Grouping Of 181 Comics From The Promise Collection Sold
July 09, 2021
Heritage Auctions made history June 18 when it began bringing to market the Promise Collection, which consists of high-grade Golden Age comic books that havent been seen since they were purchased off newsstands in the 1940s. The Promise Collection is the highest-quality pedigree collection, book for book, to debut in our hobby in the last 25 years, says Heritage Auctions Senior Vice President Ed Jaster. It made its eagerly anticipated debut during Heritages three-day Comics and Comic Art Signature Auction, held June 17, 18, 19. Over the span of four hours, just 181 comic books sold for a total of $7.1 million. That is a fraction of 5,000-plus comic books that make up the Promise Collection, which will be sold throughout this year and next. About 100 more books from the collection were sold day three. This report is not a recap of all three days. Were just blown away, said Heritage Auctions Vice President Lon Allen moments after the morning session closed. Every single book was over the top, and deservedly so. But Batman met his match on day two, The Phantom Lady. There is no disputing that Matt Bakers cover to Phantom Lady No. 17, from 1948, is considered one of the most iconic of the Golden Age, in no small part thanks to its inclusion in psychiatrist Fredric Werthams Seduction of the Innocent. The copy found in the Promise Collection survived not only intact, but at CGC NM+ 9.6 is the highest graded. Bidding on Phantom Lady No. 17 opened at $95,000 during the live auction. Then back and forth the bidding went until it closed at $456,000. In fact, all 11 issues of Phantom Lady available were huge hits, chief among them the No. 14 graded CGC NM+ 9.6. That highest-graded copy opened the live auction at $7,000 and closed at $90,000. Sometimes all it takes is a famous and fantastic cover. Look no further than Mask Comics No. 1, published in 1945 and featuring L.B. Coles striking artwork thats as bright as a sunrise. This is the highest-graded copy, which means there is not a better condition copy known than this CGC VF+ 8.5-graded copy that sold for $102,000. The 1944 Captain America Comics No. 36, graded CGC NM 9.4, was another heroic title on day two. This book, with its iconic Syd Shores cover featuring classic Cap yanking Hitler out of his convertible, opened at $65,000. The bids poured in, as they did for almost each book throughout the session. In the end, that 1944 comic book, looking as it did the first time it was sold 77 years ago, sold for $204,000. There was no shortage of books selling for six figures, among them, 1944s All-American Comics No.61 graded CGC NM+9.6, which introduced DCs immortal villain Solomon Grundy and sits at No. 61 on Overstreets list of Top 100 Golden Age Comics. Its final sale price hit $138,000. In short order, a CGC VF/NM 9.0 copy of Detective Comics No. 69 shattered pre-auction expectations when it sold for $126,000. Minutes later came the highest-graded copy of 1946s Detective Comics No. 114, at CGC NM/MT 9.8, with its double cover; it sold for $156,000. A few minutes after that followed the highest-graded copy of Detective Comics No. 124, a CGC NM/MT 9.8 with a bright Bob Kane cover, that sold for $120,000. About this debut of the Promise Collection, perhaps the title of this comic book says it all: Startling. Specifically Startling Comics No. 49, which features perhaps the most famous and highly sought-after airbrushed cover by Golden Age icon Alex Schomburg. By auctions end, it had become a familiar story: The highest-graded copy of the book, in this case a CGC NM+ 9.6, brought $132,000. Startling. But not surprising. In a future issue will be a more comprehensive recap of this three-day sale. To learn more, visit www.HA.com.
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