London, Feb 23 (ANI): A copy of the first Superman comic has been sold on the Internet for 1million dollars.

A private buyer bought the 1938 edition of Action Comics No 1, which was sold for just 10c when it was first published, from a private seller.

Stephen Fishler, co-owner of the US auction website Comic Connect, said it was "the Holy Grail of comic books".

The sale smashes the previous record price for a comic book sold for 317,200 dollars in 2009, which was also a copy of Action Comics No 1, but in poorer condition.

Fishler said the transaction happened minutes after the issue was put on sale at around on February 22.

He said that the seller was a "well-known individual" in New York with a pedigree collection, and that the buyer was a known customer who had previously bought an Action Comics No 1.

"The opportunity to buy an un-restored, high-grade Action One comes along once every two decades. It's certainly a milestone," the BBC quoted Fishler as saying.

"It is still a little stunning to see a comic book and 1m dollars in the same sentence," he added.

About 100 copies of Action Comics No 1 remain in existence and only two of those have a grading of 8.0 - very fine - including the one sold on Monday.

The previous record-holder had a grading of 6.0.

The cover of the rare issue pictures Superman lifting a car over his head. (ANI)