A first edition copy of "Harry Potter and the Philosopher's Stone," printed in 1997, sold for more than £55,000 — about $69,000 — on Monday, according to Hansons Auctioneers.
The 58-year-old seller bought the hardcover copy for £10 — between $12 and $13 — after she spotted it in a bargain bucket in a shop in the Scottish Highlands 26 years ago. Just 500 copies were printed in the first run of hardbacks, with 300 going to schools and libraries and 200 going out to bookshops, Hansons' books expert Jim Spencer said.
"This was a genuine, honest first issue and a fantastically well-preserved example," said Spencer. "It was fresh to market and it deserved to go full steam like the Hogwarts Express."
The unidentified seller learned about Harry Potter after reading one of J. K. Rowling's first interviews, according to the auction house.
"I bought the Harry Potter book before anyone really knew much about it, or the author," she said in a Hansons Auctioneers news release. "I found it during a family caravan trip touring 'round the highlands of Scotland."
A mother recently discovered that a book she bought for her children years ago turned out to be a valuable first edition of "Harry Potter and the Philosopher's Stone." She initially bought the book for a couple of pounds, as it had no dust jacket. However, her children later learned about identifying first editions and believed they had one.
After realizing that the edition was actually valuable despite the missing dust jacket, the mother stored the book away. Recently, she decided to sell it and contacted an auction house. The book was eventually sold for £55,104 to a private UK online buyer. Other first edition copies of the book have sold for between £17,500 and £69,000 at auction, depending on their condition.
The mother stated that her children are now grown up and she wanted someone else to enjoy owning this rare piece of literary history.
According to Hanson, most of the examples of the book are in poor condition, especially those that were once part of library collections. These books have been passed around among friends and carried in school bags, which in a way captures the excitement of Harry Potter's initial popularity. However, traditional collectors are very particular about the condition of the books they collect, which is why this particular book was able to fulfill its potential.
The book, originally titled "Harry Potter and the Philosopher's Stone" in the UK, was published by Scholastic in the US in 1998. It had an initial printing of 50,000 copies.
Source: Scholastic
