Taken from June 30, 2008, New York Times article, "From Trash to Auction, Faster Than a Speeding.. Well You Know".
Comic-book collectors like their numbers. They know that the first issue of X-Men, which introduced Marvel’s mutant superheroes, was published in 1963 and had a cover price of 12 cents. They also know that today a copy of that issue, in near mint condition, is worth $16,500. (Parents, take note.)
And while the market for back issues is well established, more and more collectors are turning their attention to the hand-drawn covers and interior pages that make up a comic book. This original art has become the focus of auctions with sales in the five and six figures. It’s a surprising turn of events for work that in the early days of the industry, was considered so unimportant that it was used to sop up ink or spilled coffee, given away to fans or even destroyed outright.
The art eventually stopped being discarded, and in the 1970s it generally became policy to return the covers and pages to the artists, many of whom began selling it to fans and collectors, who are hungry for it. Last month the cover of Weird Science No. 16, from 1952, drawn by Wally Wood, sold for $200,000. In February an inside black-and-white page from the 1963 X-Men No. 1, by the influential Jack Kirby, sold for $33,460. Late last year two color paintings by Alex Ross, used as covers for a recent Justice League story, were sold by his art dealer for $45,000 and $50,000. In 2005 an auction for the black-and-white cover of Batman No. 11, from 1942, by Fred Ray and Jerry Robinson, closed at $195,500. (read more)
Read the rest of this New York Times article here.
http://www.nytimes.com/2008/06/30/arts/design/30comi.html?_r=1&oref=slogin
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