It's a bird! It's a plane! It's a $317,200 Superman comic book!

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Dec 14, 2012, 3:54 PM EST

A rare copy of Action Comics number one, the first comic book featuring Superman, sold for $317,200 in an Internet auction, the Associated Press reported. The previous owner had bought it for less than a buck.

It's one of the highest prices ever paid for a comic book, a likely testament to the volume's rarity and its excellent condition, said Stephen Fishler, co-owner of the auction site and its sister dealership, Metropolis Collectibles, to the AP.

The winning bid for the 1938 edition of Action Comics No. 1, which features Superman lifting a car on its cover, was submitted Friday evening by John Dolmayan, drummer for the rock band System of a Down, the AP reported. Dolmayan, who is also a dealer in rare comic books, said he acquired the Superman comic on behalf of a client he declined to identify.