Unassuming 1937 book worth £24k - and other books that could land you a cash windfall
If you've got a collection of old books gathering dust at home, it might be time to take a second glance. Specialists are now highlighting the potential fortune to be found in first-edition novels, with one sought-after title fetching a whopping £24,000 last year.
The book causing a stir is none other than J. R.R. Tolkien's 1937 masterpiece 'There and Back Again', also known as 'The Hobbit'. Set in Middle Earth, this story chronicles Bilbo Baggins, wizard Gandalf, and 13 dwarves on their quest to recover treasure guarded by the formidable dragon Smaug.
The story leapt from page to big screen in 2012, becoming a cinematic sensation 75 years after its original release, with Martin Freeman portraying the Hobbit. Last May, Kinghams Auctioneers predicted that the original book would fetch 'between £7,000 and £10,000', with just 1,500 copies published in September 1937.
However, on the day of the auction, the novel fetched more than twice that estimate, selling for an eye-watering £24,000. "When published it was nominated for the Carnegie Medal and awarded a prize from the New York Herald Tribune for best juvenile fiction," the auctioneers explained previously, according to the Mirror.
"It is illustrated in black and white by Tolkien who also designed the dust cover. During the war, the book was unavailable due to paper rationing. On the first edition, first impression there is a manual correction on the rear inner flap for 'Dodgeson', (better known as Lewis Carroll)."
While first editions of The Hobbit usually fetch between £6,000 and over £20,000 at auction, signed copies can exceed £60,000 in value. With this in mind, David Joyson, a home insurance expert at Homeprotect, recommends a thorough search of personal book collections for potential hidden gems.
This isn't just applicable to old versions of The Hobbit, either. In 2024, Hanson Auctioneers revealed that one first-edition Harry Potter book, initially purchased for £10 in 1997, went under the hammer for £36,000. Other copies have reached £64,000 and £12,000 at Rare Book Auctions.
"It's amazing to see how much the value of these novels has increased, and during tough financial times, it may inspire a lot of us to dig through our garages, attics, and storage units for hidden treasures that may be worth far more than expected," Mr Joyson said.
"First edition books are a highly collectable and often overlooked and underestimated item of value, so before you give away or donate your old children's books, do your research to ensure you aren't throwing away a small fortune.
"If you have any of these valuable items lying around your home, or if you come across an item you think may have a high value, get them professionally valued, so you know if they are worth insuring and to avoid underinsuring.
"Rare or antique books may be covered by your contents insurance, but it's always worth checking the specific policy terms with your insurer and to confirm that you have an adequate amount of contents cover."
Specialists at We Buy Books also last year revealed several other books that could fetch you a hefty sum. Among them are:
First Edition Charlie and the Chocolate Factory by Roald Dahl - worth approximately £1,000
First Edition Sherlock Holmes: The Hound of the Baskervilles by Arthur Conan Doyle - worth approximately £5,000
First Edition Tender is the Night by F. Scott Fitzgerald - worth approximately £10,370
First Edition James Bond: On Her Majesty's Secret Service by Ian Fleming - worth approximately £13,000
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