What is the Value of a Harry Potter First Edition?

alex atkins bookshelf booksChristmas came early for the owner of a pristine, rare first edition of J.K. Rowling’s first novel, Harry Potter and the Philosopher’s Stone who sold it at auction on December 9, 2021. The auction was conducted by Heritage Auctions in Dallas, Texas, as part of a two-day “Firsts Into Film” auctions, that is to say, first editions of famous works that were adapted for film or television. The bidding for Harry Potter and the Philosopher’s Stone opened at $75,000, but a fierce bidding war initiated by a gaggle of determined, competitive — and affluent — Muggles quickly drove the price past the previous record of $138,000 (set earlier this year) to reach the final astronomical sale price of $471,000 — almost half a million dollars! This is one book you will never find on the kitchen table or a nightstand; most likely it will find a new home inside a home safe or bank vault. The sale of this book breaks two world records: it is the highest price paid for a first edition of Harry Potter and the Philosopher’s Stone and it is the highest amount paid for a commercially published 20th-century work of fiction. Both of these records are powerful testimony for the value of printed books and the importance of book collecting in the Digital Age.

All of the books in J.K. Rowling’s Harry Potter series are highly collectible, but a first edition of Harry Potter and the Philosopher’s Stone, initially published in the UK in 1997, is the Holy Grail for serious book-collecting muggles (the book was retitled as Harry Potter and the Sorcerer’s Stone in US). As the legend goes, 12 publishing houses rejected her first manuscript. Only one publisher had the courage and foresight to publish this first-time author and her boy wizard: Bloomsbury. However, Bloomsbury initially had very low expectations for a first novel by an unknown author (the dust jacket indicates Joanne [Kathleen] Rowling as the author) so the initial run was very small: only 500 hardback copies. 300 of those were shipped to libraries where they were vandalized — I mean, processed with the conventional library ink stamps, markings, and security stickers. So those fortunate 200 individuals that purchased the first edition were rewarded with an opportunity of a lifetime: a literary pot of gold, that is if they took very good care of the book and dust jacket over the years.

This particular book, and the books from 138 other lots, were all owned by a single book collector who fell in love with specific films and then made it his or her mission to track down the first edition, in the best condition that could be found, for each of those films. Talk about a wonderful lifelong hobby with an incredible return on investment! Curious to learn what else this book collector sold that day? Here are some other prized possessions that were sold during the “Firsts Into Film” auction:

Lord of the Rings trilogy by J.R.R. Tolkien (1954-55): $103,125

Chronicles of Narnia set of 7 novels by C.S. Lewis (1950-56): $100,000

Pride and Prejudice in 3 volumes by Jane Austen (1813): $60,000

The Maltese Falcon by Dashiell Hammett (1930): $47,500

Casino Royale by Ian Fleming (1953): $42,500

Sense and Sensibility in 3 volumes by Jane Austen (1811): $37,500

To Kill a Mockingbird by Harper Lee (1960): $35,000

Charlie and the Chocolate Factory by Roald Dahl (1964): $23,750

ENJOY THE BOOK. If you love reading Atkins Bookshelf, you will love reading the book — Serendipitous Discoveries from the Bookshelf. The beautifully-designed book (416 pages) is a celebration of literature, books, fascinating English words and phrases, inspiring quotations, literary trivia, and valuable life lessons. It’s the perfect gift for book lovers and word lovers.

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For further reading:
http://www.finebooksmagazine.com/news/harry-potter-first-edition-sells-471000-sets-modern-literature-world-record