The earliest original Superman cover art known to exist sold at auction over the weekend for $286,800, exceeding early estimates.

Fred Guardineer's cover for Action Comics #15 (dated August 1939), on the fifth cover appearance of the Man of Steel, depicts the superhero aiding a distressed U.S. submarine on the ocean floor. It was purchased by Richard Evans of Bedrock City Comic Company in Houston.

“Guardineer’s cover is the earliest Superman cover art in existence, and an absolute treasure of comics history," Ed Jaster, senior vice president of Heritage Auctions, said in a statement. "A price like this shows just how much collectors covet a rarity like this.”

A prolific Golden Age writer and artist, Guardineer created Zatara, whose first appearance in Action Comics #1 was overshadowed by the debut of Jerry Siegel and Joe Shuster's Superman.

The Feb. 20-22 auction in New York City featured more than 1,200 lots, including the second part of the Don and Maggie Thompson collection. Highlights included: a near-mint copy of Amazing Fantasy #15, which sold for $191,200; Jack Kirby and Frank Giacola's original cover art for Tales of Suspense #84, which fetched$167,300; and R. Crumb's original art for the three-page story "Ducks Yas Yas" from Zap Comix #0, which went for $101,575.