AN ultra-rare first edition copy of a Harry Potter book bought for just £10 has sold for a whopping £55,0000.
The “fantastically well-preserved” edition of Harry Potter and the Philosopher’s Stone fetched the eye-watering price at auction yesterday.
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The hardback book, from the original print run in 1997, was discovered in a shop in the Scottish Highlands later that year by a 58-year-old woman who wishes to remain anonymous.
And the lucky punter even managed to get £2 knocked off the price because it didn’t have a dust jacket.
It was then kept in a cupboard under the stairs for several years, echoing the story of young Harry, who famously lived in a tiny closet beneath a staircase at Privet Drive.
The novel went under the hammer at Hansons Auctioneers at Bishton Hall, Staffs, and sold for £55,104, with buyer’s premium, to a private UK online bidder.
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Hansons’ books expert Jim Spencer said: “It’s a great result for a great find.
“This was a genuine, honest first issue and a fantastically well-preserved example. It was fresh to market and it deserved to go full steam like the Hogwarts Express.
“Of the 500 first issue hardbacks printed, 300 went to schools and libraries in order to reach a bigger audience. This is one of the even scarcer 200 that went to bookshops.”
The delighted seller learned about Harry Potter and the Philosopher’s Stone after reading one of the first ever interviews with its author, JK Rowling, in The Scotsman newspaper in the late 1990s.
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The recently retired third sector manager said: “I bought the Harry Potter book before anyone really knew much about it, or the author. I found it during a family caravan trip touring round the highlands of Scotland.
“I discovered a bookshop café on an isolated peninsula after driving miles on a single-track road in the north-west of Scotland.
“The book seller had placed it in a wicker ‘bargain bucket’ basket on the floor. Because it had no dust jacket, I got a couple of pounds knocked off the price.
“Our two children enjoyed the wizard tale as a bedtime story all through that holiday in 1997.”
According to Hansons, the original 500 books from the first print run are the “rarest and most prized Potter books, the holy grail for collectors”.
The vendor, who lives just north of Edinburgh where J K Rowling wrote the first Potter book, added: “My children read something online years back about how to identify first editions and told me they thought we had one of them.
“But I said the edition was worthless due to it having no dust jacket.
She continued: “I forgot about it for a long time but then read about the rarity of first editions.
“I wanted to authenticate my copy and find out what it might be worth. My children are grown up now and it’s time for someone else to have the pleasure of owning a rare piece of literary history.”
Jim, a world-renowned expert on Potter finds, said: “These first issues are getting harder and harder to find. This must be one of the few remaining copies that’s been in private hands since it was purchased in 1997.
“It’s astonishing it ended up on a remote Scottish peninsula, and it was all down to an article in The Scotsman – and perhaps a dusting of magic – that encouraged the inquisitive and very lucky buyer to pluck it from the bargain bin.
“Most examples are quite badly worn, especially ex-library copies. They’ve often been shared among friends and carried around in school rucksacks, which in some ways is lovely, capturing the buzz of Harry Potter when it first gained popularity.”
This is the 19th hardback Philosopher’s Stone first edition out of the original 500 discovered by Jim Spencer.
They have sold at auction for between £17,500 and £69,000, plus buyer’s premium, dependent on condition.
He has also uncovered numerous paperback first issues which have achieved as much as £8,500.
It comes as a primary school headteacher couldn’t believe his luck when he found an ultra-rare Harry Potter book worth £20,000 stashed in a classroom.
Former headteacher Bob Alder, 75, says the book – an early proof copy of Harry Potter and the Philosopher’s Stone – was bought for just £1 by staff at St Kenelm’s Primary School in Minster Lovell, Witney, in 1997.
Is your Harry Potter book worth any money?
If you have books collecting dust at home that you think may be valuable, there are a few things to keep in mind.
Firstly, the condition of it is key and will impact the value.
First edition books are also highly sought-after and will usually be more valuable than a later printing.
Better yet, if the author has signed it, you can expect it to be worth more.
The number of copies in existence will also have an impact.
To check if your books are valuable, it’s worth first looking up completed listings on eBay and filtering by the highest value.
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You can also decide to have it valued by auction houses but be aware of any fees.
If you decide to sell, remember that you’re not guaranteed to be quids in.
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