Stephen Fishler, CEO of ComicConnect.com, says the winning bidder in the online auction was a "hard core, golden age comic book collector" who was looking for a lower-grade, unrestored copy of Action Comics No. 1. The buyer's name was not released. Bidding closed Tuesday.
Fishler says a copy in better condition could have cost over $1 million.
He estimates there are only around 100 known copies of Action Comics No. 1, which was published in 1938.
David Gonzalez found the copy in the ceiling insulation of a house he was restoring in the small town of Hoffman.