It looks like the second place "snipe" bid boosted the final price of the Superman comic by $507,000.00.

Unless I'm reading it wrong.

http://www.ebay.com/itm/Action-Comics-1-June-1938-Superman-039-s-Debut-CGC-9-0-Perfect-White-Pages-/311050328393?ssPageName=STRK%3AMEWAX%3AIT&_trksid=p2047675.l2557&nma=true&si=kBHMxaUGa%252BR2PjjErl44zG3jIf8%253D&orig_cvip=true&rt=nc

It also looks like the second highest bidder placed two snipe bids in case one failed.