Harry Potter book bought for £1 near Stafford set to sell for £20,000+
It was sold off after being rejected from a Staffordshire library – and now a first edition Harry Potter book is expected to fetch around £30,000.
Only 500 copies were ever made of the first hard copy of Harry Potter and the Philosopher’s Stone, making them highly sought after by fans and collectors.
In the past, editions of the book have sold for as much as £28,000, while a signed JK Rowling copy sold for £68,000 at auction.
Now, a copy of the 1997 book is going on sale at Hansons Auctioneers in Staffordshire after being unearthed at a house in Stafford.
It is a former Staffordshire library book that the owner bought from a table top sale for only £1 two decades ago.
It will go under the hammer on July 31, JK Rowling and Harry Potter’s birthday, and is expected to fetch between £20,000 and £30,000.
'The holy grail of Potter books'
Jim Spencer, books expert at Hansons, said: “I was called to a client’s house near Stafford to value three boxes of books and there it was – the holy grail of Harry Potter books.
“I was so excited. Every book valuer dreams of finding one of these.
“I was slightly caught in disbelief when I first saw it. I receive a few calls every week from people saying they have a first edition Harry Potter, and it can invariably be ruled out in seconds, or it’s one of the titles from later in the series when production was huge because of its success.
“The one we’ve found is a former Staffordshire library book which is stamped ‘withdrawn from stock’.
“The vendor came across it around 20 years ago at a table top sale.
"Various old books were being sold off and the owner bought a handful for £1 each for the family to read on holiday.
“They weren’t sure if it was a Harry Potter first edition but I soon established that it was thanks to some typographical errors that particular version is renowned for.
"When our client bought the book for £1 all those years ago no-one realised what a huge impact the Harry Potter stories would have globally.
"The majority of the books in that first print run went to schools and libraries. They are extremely rare.
"This is a landmark in children’s literature, but it appeals to young and old. Everybody knows this book. This is the holy grail for so many collectors.”
Enough for a new bathroom
The owner, a 54-year-old office worker who does not wish to be named, said: “I bought the book along with three or four others to read on holiday about 20 years ago. I thought nothing of it at the time.
“I read the book, in fact I’ve read all the Harry Potter series, and then put it away in a cupboard for years.
"I decided to get some books valued and invited Jim Spencer over to take a look.
"It’s so exciting to think that a holiday read could be worth so much now. It might raise more than enough money to buy a nice new bathroom.”
The book was first published by Bloomsbury on June 30, 1997 after being rejected by several publishers.
The first editions can be identified by two typographical errors – the back page misspells ‘Philosopher’s’, as ‘Philospher’s’, and on page 53 a list of equipment mentions ‘1 wand’ twice. Author JK Rowling’s name also appears as Joanne Rowling.
Mr Spencer said: “It was incredible checking off all those issue points and seeing them for myself, one by one.
“I’m absolutely delighted for our vendor and I hope the book exceeds all expectations.
“By pure luck, our Library Auction is on July 31 – Harry Potter and J K Rowling’s birthdays.
"Harry Potter must have waved his wand over us. It’s a magical find.”
Hansons’ Library Auction is at Bishton Hall in Wolseley Bridge, near Stafford and Cannock Chase, on July 31.
