The film Aquaman (2018, $1.15 billion at the box office) caused an increase of +200-400% on Silver Age key issues. Aquaman #35 (1st Black Manta) went from $1,500 to $6,000+ in CGC 6.0 between 2017 and 2021. The post-hype correction (2022-2024) stabilized prices at 2-3x pre-movie levels.
The casting of Jason Momoa in 2014 and the phenomenal success of the Aquaman film in 2018 fundamentally transformed the Aquaman comic book market. A character whose prices had stagnated for decades saw his prices explode, attracting a new generation of collectors and speculators to a segment previously considered dormant.
This analysis details the precise impact of film adaptations on the Aquaman comic book market, with figures by issue, by period, and projections based on upcoming DC Studios projects. Understanding these dynamics is essential to anticipating market movements.
Timeline of media catalysts
Phase 1: The Momoa announcement (2014-2016)
The announcement of Jason Momoa's casting as Aquaman for Batman v Superman (2016) was the first trigger. The actor, known for Khal Drogo in Game of Thrones, immediately gave the character credibility to the general public. Impact on prices:
- Aquaman #35 (1st Black Manta): from $800 to $2,000 in CGC 6.0 (+150%)
- Aquaman #1 (1962): from $3,000 to $5,500 in CGC 6.0 (+83%)
- Aquaman #11 (1st Mera): from $500 to $1,200 in CGC 6.0 (+140%)
- Aquaman #1 (2011 New 52): from $20 to $50 in CGC 9.8 (+150%)
Phase 2: Justice League and the solo trailer (2017-2018)
The release of Justice League (2017) and the first trailer for Aquaman have intensified speculation. Prices continued to rise, driven by anticipation:
- Aquaman #35: from $2,000 to $4,500 in CGC 6.0
- Aquaman #29 (1st Ocean Master): from $400 to $900 in CGC 6.0 (Patrick Wilson announced in the role)
- Adventure Comics #260: from $600 to $1,800 in CGC 6.0 (origin story used in the film)
Phase 3: The record box office (December 2018 - 2020)
Aquaman surpasses $1 billion at the worldwide box office, becoming the biggest DC hit since The Dark Knight Rises. The euphoria reaches its peak:
- Aquaman #35: peaks at $6,000-7,000 in CGC 6.0
- Aquaman #1 (1962): peaks at $8,000-10,000 in CGC 6.0
- Aquaman #11: peaks at $2,500-3,000 in CGC 6.0
- The modern ones (New 52 #1, Rebirth #1) double again
Phase 4: Correction and stabilization (2021-2024)
Post-hype reality sets in. Aquaman and the Lost Kingdom (2023) underperforms at the box office ($434M worldwide). Prices correct by 20-35% compared to peaks but remain 2-3x higher than pre-2017 levels:
- Aquaman #35: stabilization around $4,000-6,000 in CGC 6.0
- Aquaman #1 (1962): stabilization around $5,000-8,000 in CGC 6.0
- The modern ones correct more strongly (-40-50% from the peaks)
Impact by number category
Silver Age keys: structural increase
Silver Age key issues have benefited from a permanent revaluation. Even after correction, prices will not return to pre-2017 levels because the pool of buyers has structurally expanded. The character is now known worldwide, attracting international collectors (Asia, Middle East) who did not exist before the film.
Bronze Age: moderate spillover effect
Bronze Age numbers benefited from a spillover effect (+50-100%) but remain the least impacted segment. Adventure Comics #452 (death of Aquababy) is the main beneficiary, with a narrative interest that resonates with the film's dramatic treatment.
Modern: maximum volatility
Modern issues (New 52, Rebirth) have seen the most spectacular percentage increases (+300-500%) but also the most severe corrections. Their abundant supply (high print runs) limits the floor price. The New 52 #1 in CGC 9.8 oscillated between $40 (pre-movie) and $200 (peak) before stabilizing around $80-120.
The Momoa factor: analysis of the actor effect
Jason Momoa brought to Aquaman what Robert Downey Jr. brought to Iron Man: a charismatic persona that transcends the comic book character. The measurable effect:
- The “Momoa premium” on CGC Signature Series signed by the actor adds 100-300% to the slab value.
- Covers that visually resemble Momoa-Aquaman (bearded, tattooed, muscular) command a premium over the classic blonde versions.
- Aquaman #1 (1994, debut of the bearded Peter David look) benefited from an unexpected "proto-Momoa" effect.
Projections: DC Studios and the future of the market
The next potential catalysts for the Aquaman market:
- DCU Reboot (James Gunn): if Aquaman is integrated into the new DCU with a new cast, expect a speculative cycle similar to the previous one but of a smaller scale (the market has “learned” and starting prices are already high).
- Animated series: moderate impact (+30-50% on modern ones) but sustained over time.
- Video games: a solo AAA Aquaman game would have an impact comparable to a film (see the Arkham effect on Batman comics).
Lessons for the collector-investor
The history of the Aquaman market teaches several universal principles: (1) buy before the official announcement if you have convictions about a casting, (2) sell 2-4 weeks before the release of the film (the peak occurs on anticipation, not the result), (3) Silver Age keys protect themselves better than modern ones during corrections, (4) the second adaptation is always less impactful than the first on prices.
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Frequently asked questions
The casting news, the release of Justice League and then the solo film pushed prices up in successive waves. After the correction that followed the peak, values remain well above their pre-2017 level.
Silver Age keys such as Aquaman #35 (first Black Manta), #1 (1962) and #11 (first Mera) were durably repriced. Modern issues (New 52 #1, Rebirth #1) gained more in percentage terms but also corrected harder.
The Silver Age holds up better during corrections because the collector base has widened internationally. Modern issues, printed in large numbers, have a limited price floor.
The article recommends selling 2 to 4 weeks before release, since the peak builds on anticipation rather than on results. The second adaptation also always weighs less on prices than the first.
An Aquaman folded into James Gunn's new DCU, an animated series or a major solo video game. Because the market has already learned, a new cycle would be smaller in scale.