Why are first printings so special?

So, I've never been a huge collector, and simply enjoy reading through comics more than collecting them for their monetary value.

Thus, I'm always surprised when a first edition print gets sold for so much money.

I mean, I can understand if things were changed between the first, and subsequent printings, perhaps if something was censored... but many times they're exactly the same, aside from a single number being changed in the copyright information. In those cases, I think I would actually prefer a more recent printing compared to one that is 20 years old as it would most assuredly be in better condition.

So, can anybody explain to me why many people consider a first edition as being better than a re-print?

Age, rarity, and the general idea of it being first is what's important. Reprints have little to no collection value.

The fact that something was reprinted usually means the original is hard to come by. That's why it's collectible.

That and what would you rather have action comics #1 first print or a reprint of it.

Pretty much this.

First prints for new comics aren't a big deal either most don't get 2nd prints, so don't pay extra for that. People try and do that for some reason.