Madame Web (Cassandra Webb) first appears in Amazing Spider-Man #210 (November 1980). Julia Carpenter becomes Madame Web in ASM #637. Values: ASM #210 CGC 9.8 = $3,000-5,000, CGC 9.4 = $400-700, CGC 7.0 = $100-160. The Sony film (2024) caused a spike followed by a correction.
Created by Denny O'Neil and John Romita Jr., Madame Web is a blind clairvoyant connected to the "Web of Life and Destiny" who has guided Spider-Man in his adventures since 1980. Despite her often secondary role in the comics, she has become a recognizable character thanks to her unique visual design (an elderly woman connected to a spider-web-shaped device).
The Sony film “Madame Web” (February 2024) with Dakota Johnson, although critically poorly received, temporarily propelled the prices of its key issues before a rapid correction. By 2026, ratings have stabilized at levels below the peak but above the film's pre-announcement prices, reflecting residual interest in the character.
Amazing Spider-Man #210: First appearance of Cassandra Webb
ASM #210 (November 1980) is the main key issue for Madame Web. Drawn by John Romita Jr. (one of his first works on ASM), this issue features Cassandra Webb as a blind and paralyzed telepath who helps Spider-Man track down a criminal.
| CGC grade | Price (USD): 2026 | Variation vs peak 2023 |
|---|---|---|
| 9.8 (NM/MT) | $3,000-$5,000 | -40% (peak at $7,000-9,000) |
| 9.6 (NM+) | $1,000-$1,800 | -35% |
| 9.4 (NM) | $400-$700 | -30% |
| 9.0 (VF/NM) | $200-$350 | -25% |
| 7.0 (FN/VF) | $100-$160 | -20% |
| 5.0 (VG/FN) | $50-$90 | -15% |
| 3.0 (Good/VG) | $30-$55 | Stable |
The pattern is classic for "movie spec" comics: sharp increase when the film is announced, peak during the first trailer, then post-release correction, especially when the film is poorly received. Long-term collectors who bought before the hype still benefit from a nice added value compared to pre-2022 prices.
ASM #637 and Julia Carpenter: the succession of Madame Web
In Amazing Spider-Man #637 (2010, "Grim Hunt" arc), Cassandra Webb dies and bequeaths her Madame Web powers to Julia Carpenter (formerly Spider-Woman II/Arachne). This transfer is important because it is the Julia Carpenter version that the Sony film highlights:
- ASM #637 CGC 9.8: $80-$150 (relatively affordable)
- Marvel Super Heroes Secret Wars #7 (1st Julia Carpenter as Spider-Woman): $150-$300 in CGC 9.8
- Avengers West Coast #74 (Julia as Arachne): $30-$60 in CGC 9.8
For investors who believe in the potential for rehabilitation of the character in the cinema (sequel or MCU), Julia Carpenter in Secret Wars #7 is an interesting angle because the price remains moderate compared to the potential.
Sony Film Impact and Lessons for Investors
The Madame Web case is a perfect educational example of the risks of “movie spec” speculation:
Chronology of speculation:
- April 2022: Announcement of the film with Dakota Johnson. ASM #210 in CGC 9.8 goes from $1,500 to $4,000 in a few weeks.
- Summer 2023: First trailer. Peak at $7,000-9,000 for 9.8s. Transaction volume is exploding.
- February 2024: Film release. Critical (15% Rotten Tomatoes) and commercial failure.
- March-June 2024: Sudden correction of 40-50%. Late speculators lose money.
- 2025-2026: Stabilization at a floor above the pre-announcement level but below the peak.
Lessons to learn: Never buy at the peak of an ad. Wait for post-release fix. Keys from characters with a small fan base are more volatile than those from established characters (Spider-Man, Wolverine, Batman).
Other notable appearances of Madame Web
For collectors who want to delve deeper into the character beyond the main key issues:
- ASM #216: 2nd appearance of Madame Web. $30-$60 in CGC 9.8.
- ASM #229-230:"Nothing Can Stop the Juggernaut" arc where Madame Web is threatened by Juggernaut. 80-150 $ in 9.8 for each number. These numbers mainly apply to the Juggernaut arc but Madame Web plays a key role there.
- Sensational Spider-Man #26 (2006): Madame Web regains her sight. $15-$25 in 9.8.
- Spider-Woman vol.4 #7 (2010): Julia Carpenter as the new Madame Web. $20-$40 in 9.8.
The character of Madame Web has a more structural than spectacular role in the Spider-Man comics: she is a guide, an oracle, rarely a fighter. This limits his potential enhancement compared to action characters like Venom or Carnage, but gives him a unique place in the Spider-Man mythology.
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Frequently asked questions
In Amazing Spider-Man #210 (November 1980), by Denny O'Neil and John Romita Jr. Cassandra Webb is a blind, paralysed telepath who helps Spider-Man track down a criminal.
In Amazing Spider-Man #637 (2010, "Grim Hunt" arc), Cassandra Webb dies and passes her powers to Julia Carpenter, formerly Spider-Woman II and Arachne. This is the version the Sony film puts forward.
Marvel Super Heroes Secret Wars #7 for her first appearance as Spider-Woman, Avengers West Coast #74 for Julia as Arachne, and Spider-Woman vol. 4 #7 (2010) where she is the new Madame Web.
Announced in April 2022 with Dakota Johnson, the film lifted the keys at the announcement and then at the first trailer. Released in February 2024, it was poorly received, which caused a sharp correction before stabilising above the pre-announcement level.
Never buy at the peak of an announcement, wait for the post-release correction, and beware of characters with a small fan base, which are more volatile. Other issues: ASM #216 (second appearance), #229-230 (Juggernaut arc) and Sensational Spider-Man #26 (2006), where she regains her sight.