Werewolf by Night #32 Value: After the Streaming Bump

In March 2022, three weeks before the Moon Knight series began streaming, a copy in CGC 9.8 changed hands at $65,000. Three years later the same grade brought $21,600 at Heritage. The show arrived, ran, and ended, and this book’s record caught the whole arc on the way past.

Moon Knight first appears in August 1975 as a hired antagonist in someone else’s horror comic, with no indication he would outlast it.

A villain of the week who kept going

Marvel introduced Moon Knight to fight the werewolf for two issues and then let him go. He came back through the seventies as a supporting character, got his own title in 1980, and spent forty years as the character Marvel kept quietly trying again.

That history explains the shape of the market. This is a horror comic, not a superhero debut, so it survived in the quantities horror comics do: read, stacked, and mostly ungraded.

It also explains the size of the 2022 spike. When a show arrives for a character whose first appearance sits in an obscure title, demand hits a supply that was never assembled for it.

To identify it: 25 cents, August 1975, with Werewolf by Night on the logo. Issue 33 continues the story and is a much cheaper comic, and the two are confused constantly in listings.

One streaming cycle, priced in full

No sale of this comic appears in CGC’s auction reporting, so no price below carries a link. Every row is a Heritage Auctions result or a completed eBay listing.

The 9.8 lane has four documented sales and they bracket the whole cycle: $31,200 in March 2020 before anyone had announced anything, $65,000 at the peak in March 2022, then $26,400 in April 2024 and $21,600 in April 2025.

Note that the current number is below the pre-announcement one. The show did not just fail to hold its gains; the book finished the cycle cheaper in high grade than it started it.

The 9.6 ran the same course from $26,500 at the peak to $6,710 at Heritage this May, and the 9.4 from $13,500 to about $3,500 across four sales this year.

Underneath that, the lanes stabilize quickly. The 9.2 has twenty-eight sales and held $1,825 to $2,590 this summer, and the 9.0 lane, also twenty-eight deep, ran $1,900 to $2,495 over the same weeks.

So the damage was concentrated in the three grades almost nobody owns. That is the pattern in every screen-driven book I track, and it is the single most useful thing an owner can know about this one.

Those figures are Heritage results and completed eBay sales. GoCollect and PriceCharting track Werewolf by Night #32 independently, and if their numbers disagree with mine it is worth finding out which of us is wrong.

Werewolf by Night #32 value, grade by grade

343 sales tracked back to 2005; here are the three freshest in every grade.

Heritage rows are verifiable in Heritage’s public Werewolf by Night issue index; the rest are completed eBay listings. The oldest is from 2005, so the record covers the quiet years, the spike and the settling that followed it.

What the show never really touched

From 8.5 down, this book has been remarkably steady through a spike and a collapse that took two thirds off the grades above it.

This summer: 8.5 copies brought $976 to $1,800, 8.0 copies $850 to $1,700, 7.0 copies $830 to $949, and 6.5 copies $650 to $836.

Further down, 6.0 copies ran $620 to $825, 5.0 copies $607 to $825, and 4.5 copies $650 to $940.

That 4.5 result at $940 is higher than several 5.0 sales in the same months, which happens on horror books where page quality and cover gloss vary more than the grade number suggests.

Even the rough end holds: a 3.0 brought $615 in January and $400 in August, and a 2.0 reached $550 in July. A beaten first Moon Knight is a four-hundred-dollar comic.

The raw tier is the busiest part of the whole record, forty-two sales deep, and it is also the widest: August alone produced $182, $250, $350, $472 and $560. That spread is not noise, it is the market pricing paper quality it can only half see in a photograph.

Which is why the single most useful thing you can send me on this book is a picture of an open interior page. On seventies horror stock, page color moves the price further than a corner ding does, and it is the one thing a grade number never tells you on its own.

Selling a book whose show already ended

The most common question I get on this comic is whether to wait for the next announcement, and the record gives an honest answer rather than a comfortable one.

Waiting worked once, spectacularly, for anyone holding high grade in 2022. It has not worked since, and the 9.8 lane finishing below its 2020 level is the argument against assuming a second cycle repeats the first.

Owners of readable copies can skip that decision entirely. Those lanes never spiked and have not fallen, because the whole four-year drama took place two grades higher up.

If you hold a sharp copy, the decision is real and it is yours. What I can say is that the current numbers are documented and recent, and that pricing off the 2022 peak has not been possible for three years.

One practical note either way: seventies Marvel horror books are prone to spine stress and browning, and issue 33 sits right beside this one in every long box. Check the number on the cover twice before listing, because that mistake costs more here than almost anywhere else.

Selling a Werewolf by Night #32

1. Twenty-five cents, August 1975. Issue 33 continues the story and is far cheaper.
2. Readable copies never spiked and never fell. The $600 to $1,800 band has held throughout.
3. High grade finished the cycle below where it started. Price from this year, not from 2022.
4. Check the paper. Seventies Marvel horror browns, and page quality moves this book.
5. A heavy insert at the centerfold means a Mark Jewelers copy. Scarcer, worth flagging, and on two documented sales I will not put a number on it.

Send photographs and I will read your copy against the past few months of sales, which on this book is the only window that still means anything.

Send photographs and I will place your copy in its grade lane against the same recent sales you can read above. Where you take it next is your call, and the options for selling in Southern California are worth knowing either way.

Related

• Incredible Hulk #181. The other 1974-75 Marvel debut that ran the same kind of cycle.
• Are damaged comic books worth anything?. Relevant on a horror book that browns and stresses at the spine.
• The 100 most valuable Bronze Age comics. Where this issue ranks against the era.

Cover images on this page are shown small, for identification, with the publisher credited in the caption. If you are a rights holder and want an image removed, contact me and it comes down.