LIFE magazine, as we know it, started on November 23, 1936 and continued as a weekly publication until the end of December, 1972.  From 1973 to 1977, it became a bi-annual publication and in October, 1978 it became a monthly publication until 2000.  The first issue went out to 200,000 subscribers and sold 200,000 copies at newsstands.  Within 4 months the circulation was up to 1 million copies, and at its peak had a circulation of 13.5 million copies per week.  LIFE was the first all photograph U.S. magazine.  During WWII it established itself as "the war maga-zine".  Since LIFE came out every week with pictures of all events, and featured movie, sports and political stars, it became one of the most collectible magazines of all time.
 
Henry Luce purchased the name and good will of LIFE, a satirical magazine started in 1893, for $92,000. He then made 2 prototypes (Dummy & Rehearsal) that met with mixed reviews.
 
Pricing of an issue depends on a number of factors---cover, content, condition, supply and demand.  Supply and demand goes hand-in hand with the collectability of the issue. (Who may be on the cover and the main topic of a particular issue).  For instance, the Beatles cover and story of the 60's commands a premium price; as well as the Ted Williams issue in 1941 and the first Marilyn Monroe issue from 1952.  On the other hand, "The Kennedy Years" issues are the opposite example of this.  Because a very large number were printed and saved by everyone; the supply is greater then the demand. 
 
Condition of each magazine is very important.  Water stains, torn pages, marks or writing on pages and even loose covers make issues almost worthless; except for maybe the ads.  "Foxing" (the appearance of brown spots on older issues) also affects the price depending on how severe it is. 
 
Mailing labels are common on issues from around 1940 on.  Since 10% of the sales were from newsstands, the absence of a label may add a small premium to the price.  I ask myself the following question when I'm undecided about the condition of an issue, "Would I give this issue as a gift or would I want to receive this as a gift?"  Remember that TV did not exist until the late 40's and these magazines were read over and over again and then stored in attics, basements or garages in less then ideal conditions.

 

                              

 

 

 

JFK appeared on 25 covers, Elizabeth Taylor graced 14 covers, Marilyn Monroe appeared on 13 covers, and Britain's Princess Elizabeth was on 10 covers
 
In 1956 the first all color covers appeared
The March 17, 1971 cover credits Frank Sinatra as the cover photographer 
 
The presses had been stopped only 5 times out of 2,128 printings on a fully executed issue because of a late breaking story 
 
The 1963 issue has a 4 or 5 page spread on Barbie Dolls 
 
In 1958, LIFE announced that its five billionth issue had been sold 
 
April 26, 1937, is the only issue without a logo