On June 14, Goldin Auctions sold two prominent golden age key comic books. The first was a copy of Superman #1 graded by CGC in 7.0 condition. The second was a copy of Action Comics #1 graded by CGC in 3.0 condition. Both books are very scarce and desirable and feature either the first appearance of Superman or his origin, depending on which book the buyer chooses. The Superman #1 sold for $1,620,000, and the Action Comics #1 sold for $1,500,000. Both sale prices quoted include a buyers premium of 20 percent. On the surface, it seems like this was a successful sale and that the vintage comic book market is robust and healthy. Unfortunately, the antiques and collectibles trade is not always a transparent market and, as such, when we look below the surface, the truth becomes apparent. And what is that truth? Back in 2021, both of these comics sold for a lot more money. In fact, these two sales show just how drastically the vintage comic book market has changed in the past two years. In 2021, a copy of Superman #1 graded by CGC in 7.0 sold for $2,604,750 courtesy of Comic Connect. In that same auction, a copy of Action Comics #1 graded 3.0 by CGC sold for $1,638,759.20. Both of these prices include a 15-percent buyers premium. It is easy to see that the most recent sale prices of these books represent a $965,990.80 loss on the Superman #1 and a $138,759.20 loss on the Action Comics #1. Its not surprising no grading company or auction house touted the full disclosure of these sales figures. To be fair, almost all pop culture collectibles are falling in price right now, compared to collectibles soaring during the pandemic. Unfortunately, when the pandemic ended and the age of what many in the field called easy money came to an end, prices for the vast majority of pop culture collectibles started to fall. Today, with interest rates higher, the collectibles marketplace is not immune. That said, some people in the vintage comic book community continue to dismiss these sales for reasons I would like to respond to. The first criticism levied against these sales is that the consignor chose Goldin Auctions. Critics are somewhat correct in their analysis that Goldin Auctions is not known for their comic book sales as of yet. While it is true they are one of the top tier auction houses that cater to the sports memorabilia market, I can assure you that the final sale prices of these two books has very little to do with the auction house chosen and more to do with the overall state of the collectibles market at present time. Collectibles on every level are extremely volatile at present time, so these books could either rebound in price or fall further in subsequent sales. No one has a crystal ball, and anyone telling you to ignore these sales because the results do not fit their rose-colored outlook of how high-end collectibles are supposed to perform should be ignored. The second criticism levied against these sales is that we have to take into account the state of the overall economy. Again, anyone can see the overall post pandemic economy is different from what was occurring back in 2021. That said, certain markets on the antiques side of the trade are still going strong. Just look at the prices for higher end pieces of rare coins and currency. Those markets have not experienced the massive declines that pop culture collectible markets have overall. That is not to say there isnt a downturn in some of those markets, but not to the extent of pop culture markets in which certain collecting fields like graded video games are down over 60 percent on average at present time. Pop culture collectors need to start to realize there are no guarantees in the antiques and collectibles trade. This should not imply that these comics, along with the overall vintage comic book market, cannot rebound. However, it could take years for that to happen, and deciding when and where to sell your cherished collectibles matters almost as much as how much you pay for them to begin with. Most high-profile investors I know who operate in the antiques and collectibles trade are not selling pop culture collectibles at present time, and quite a few are not buying right now. There is a massive amount of risk in these markets. Due to the speculative nature of the antiques and collectibles trade, caution is advised. That said, dont worry about Superman, as he isnt going away anytime soon. I can assure you that the corporation who owns Superman and the rest of the D.C. Comics universe has no plans on letting that happen. Shawn Surmick has been an avid collector since the age of 12. He currently resides in his hometown of Boyertown, Pa., and is a passionate collector of antiques and collectibles. His articles focus on various topics affecting the marketplace.