1st Superman comic flies to new owner for $317,200 US

A rare copy of the first Superman comic from 1938 has sold at an auction for $317,200 US ($403,518 Cdn).

Bids started to roll in two weeks ago oncomicconnect.comand hit $200,000 US ($255,000 Cdn) last week, grabbing 89 bids in all.

While the seller's name has not been released, the buyer is reportedly John Dolmayan, the drummer for the rock band System of a Down. Dolmayan is also a dealer in rare comic books.

The rare and unrestored copy has a cover depicting the super hero in his red cape, tossing a green car past petrified onlookers.

There are only 100 copies left of the first Superman comic, which sold for 10 cents when it first appearedin June 1938.

Stephen Fishler, the owner of the online auction site, said the comic had been in the same hands since 1950 bought by its owner on the U.S. west coast for 35 cents.

Fishler said the comic's owner forgot about it until 1966 when it emerged in his mother's basement and has held on to it hoping it would gain in value.

Superman is generally regarded as the first superhero to appear in comics, before the likes of Spiderman and Batman.