Rare Batman comic might be worth plenty

It was 1992 when Robert Irwin got an inkling that an old comic book he'd bought as a kid might be worth something. Right there, on the spot, inside A-1 Comics shop in Sacramento, Calif., the owner offered to pay him $27,000 for his copy of "Detective No. 27."

For some reason, Irwin hesitated. Could it be worth more?

Turns out, a lot more.

Irwin's 1939 "Detective No. 27," which features the first appearance of Batman, is expected to sell for $400,000 when online bidding ends Nov. 18.

"It's exceedingly rare that an original owner surfaces like this," said Ed Jaster, vice president at Heritage Auction Galleries in Dallas, which is conducting the online bidding. Typically, sellers are collectors, brokers or antique shops, and the connection to the original buyer is almost always lost.

Irwin said he paid 10 cents for the comic.

"It was the flashy cover that I was drawn to," said Irwin, 84. Batman swung from a rope, wings akimbo, clutching a criminal.

"That Batman comic is considered the second most valuable comic out there," said Stephen Fishler, CEO of ComicConnect.com. (The holy grail of comics is the first edition of Action comics, where Superman debuts.)

Fishler said he sold a copy of "Detective No. 27" this year for $575,000. Another copy, in super-mint condition, sold for $1.075 million.

This week, online bids for Irwin's copy of the comic book had reached $325,000.

Irwin just shakes his head.

"Never in my lifetime did I ever think a comic book would sell for that much," said the retired mechanical engineer.

"I just forgot I even had that box and didn't open it up for [about] 55 years," he said.

Several buyers have approached Irwin over the years, including a dentist from Virginia who offered $125,000. Irwin kept saying no. Until now.

"I have a mortgage loan to pay back," Irwin said. And he wants to pass some money down to his three sons and daughter.

"I have other boxes in my garage that I haven't opened up for decades," he said. "It's just probably junk ... but you never know."