The Great Gatsby cost just 2 dollars when it was first published in 1925. Today, a first edition in mint condition is valued at 373,000 dollars. As interest in owning a first edition book grows, dealers like London based Stanley Gibbons, have launched a price index of rare books.
“What we’ve done is focused on 20th century first editions. The first edition is always key because normally a publishing house has taken a bit of a punt on an author. So the first print run tends to be quite small and therefore if they go on to have success that creates a rarity.” Keith Heddle, MD,Stanley Gibbons Investments
Overall the index has shown 398 percent growth and an 8.8 percent annual growth for the last ten years, spurring on other dealers like Goldsboro books, which sells only first editions.
“Anything in the news, so if a film comes out, so if a book is made into a film simultaneously as it’s published that can increase the value of a book. Books that maybe say something about today or appeal to an audience, those increase in value and then there’s others like Lord of the Rings by J.R. Tolkein weren’t collectible immediately on publication but now you would be hard pressed to find a really nice set of first editions for less than six or seven thousand pounds.” David Hedley, Founder,Goldsboro Books
Despite sales of e-books taking over bricks-and-mortar book stores recent studies show that market is slowing and according to Deloitte, 80 percent of all book sales in 2015 will be print
