First edition of The Hobbit discovered in UK home sells for £43,000
Caitlin Riley, book specialist at Auctioneum, said: 'It's the quintessential auction story. Everyone dreams of finding a rare item hidden in plain sight, and here we are.
'House clearances can be tricky, stressful and troublesome – if ever there is a good advert for our service, it's this! This could have so easily been sent to landfill or disposed of by someone who didn't realise it was there. It really is a lucky survivor!
Caitlin Riley with The Hobbit book (Auctioneum Ltd/PA)
'The result just goes to show the pure love for Tolkien's work. Written nearly 90 years ago, it's amazing how relevant and popular it still is.
'People still want the escape; they want to delve into a fantastical world and discover new characters. Some people are clearly willing to pay large sums for the privilege.
'Much like the tale within the covers – selling this has been a real adventure.
'We've had hundreds of inquiries from all around the world and whilst we were expecting a certain amount of interest, we weren't quite expecting this much! It's a wonderful result, for a very special book.'
Including buyer's premium, which is an additional charge that the winning bidder must pay on top of the hammer price, the book totalled £52,000.
The book sold for £43,000 (Auctioneum Ltd/PA)
It was discovered in the family library of Hubert Priestley, a famous botanist in the 1930s and brother to Antarctic explorer and geologist Sir Raymond Edward Priestley.
The auction house said Priestley and Tolkien both shared mutual correspondence with author CS Lewis, as well as strong connections to the University of Oxford, meaning it is likely both men knew each other.
Ms Riley said: 'To think that just a few weeks ago this book was sat undiscovered on a bookshelf in a Bristol house, and has gone on to make headlines around the world, is quite incredible.
'It's the connection to Tolkien and the important provenance that makes this book so special. It's not just any first edition; it belonged to someone who very likely called Tolkien an acquaintance.'
The Hobbit, a children's fantasy novel published in 1937, follows hobbit Bilbo Baggins as he is joined by wizard Gandalf and the 13 dwarves of Thorin's Company in a bid to win their treasure from dragon Smaug.
Peter Jackson directed the film trilogy, which starred Martin Freeman as titular hobbit Bilbo.
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