Watchmen Variants: Alternative Covers to Collect

Watchmen by Alan Moore and Dave Gibbons remains one of the most influential works in comics history. Its complex narrative structure and iconic art make it a collector's item in its own right. But beyond the original 12-issue series, a universe of variants and special editions has developed over the decades, creating an exciting secondary market for discerning fans.

Unlike other franchises where variants number in the hundreds, the Watchmen ecosystem remains relatively contained – which reinforces the value of each piece.

For the discerning collector, distinguishing a first print from 1986 from a later reprint can represent a difference of several hundred euros. This guide details the most valuable variants and helps you build an exceptional Watchmen collection.

Types of Watchmen variants

First prints vs reprints (1986-1987)

The 12 original issues published by DC Comics between September 1986 and October 1987 are identifiable by the absence of “second printing” on the cover and by their specific barcode. The first prints of numbers 1 to 4 are the most sought after, with number 1 clearly dominating the secondary market.

Absolute Edition and prestige editions

The Absolute Watchmen (2005) in oversized format with slipcase remains a masterpiece for collectors. The first printing is distinguished by the superior quality of its paper and the absence of typographical corrections introduced in subsequent printings. Signed hardcover Graphitti Designs editions are extremely rare.

Before Watchmen variants (2012)

The Before Watchmen prequel series generated many alternate covers by major artists — Jim Lee, Jim Steranko, Michael Golden. High ratios (1:100 and 1:200) achieve significant ratings, notably on Minutemen #1 and Comedian #1.

Lenticular covers and modern variants

In 2019, DC released 3D lenticular covers to celebrate the Watchmen legacy, particularly in connection with the Doomsday Clock series. These limited edition variants combine nostalgia and technical printing prowess.

Top 10 most rated Watchmen variants

1. Watchmen #1 first print CGC 9.8 — €800-1,200
2. Watchmen #12 first print CGC 9.8 — €300-500
3. Watchmen #1 lenticular cover (2019) — €150-300
4. Before Watchmen: Minutemen #1 variant Jim Lee 1:200 — €120-250
5. Absolute Watchmen first printing sealed — €150-220
6. Before Watchmen: Comedian #1 variant Steranko 1:100 — €100-180
7. Watchmen #2 first print CGC 9.8 — €100-170
8. Doomsday Clock #1 lenticular variant — €60-120
9. Watchmen #1 UK edition (Titan) — €80-150
10. Before Watchmen: Ozymandias #1 variant 1:100 — €50-90

How to identify Watchmen first prints

The identification key is based on three elements: the price on the cover ($1.50 for the first issues), the absence of any “printing” mention on the inside page, and the UPC code specific to the first printing. Reprints generally bear a gold or silver banner mentioning the printing number.

For Before Watchmen, check the Diamond code on the last page — each variant ratio has a code separate from the standard print. Authentic lenticulars feature a smooth 3D effect without pixelation visible to the naked eye. Also see ourDC Comics key issues guideto contextualize your findings.

Investment potential

Watchmen enjoys a stable rating driven by its unique literary reputation in the medium. Adaptations (2009 film, 2019 HBO series) create cyclical peaks in demand. High grade first prints remain safe havens, while the Before Watchmen variants offer an accessible entry point with interesting progression potential.

The Watchmen market is distinguished by its resilience: unlike other series dependent on editorial news, demand is based on the status of a major work. Examples graded CGC 9.6 and above experience an average annual appreciation of 5-8%, making them a stable investment for a collectibles portfolio.

Conservation Tips

The original issues from 1986-1987 are printed on flimsy newsprint paper. Storage in Mylar with acid-free board is imperative. Absolute Editions should be stored upright, away from direct light, to avoid discoloration of the slipcase.

For lenticulars, avoid contact with abrasive surfaces which could damage the 3D effect. Never stack them directly on top of each other without interlayers. The Before Watchmen in variant ratio deserve a passage in slab upon acquisition to preserve their maximum value.