First Edition & Rare Books | Books & Reading

Criteria for indicating a first edition vary between publishers. Indeed, some first editions have no identification at all. However, there are some general guidelines for identifying many first editions.

Identifying a First Edition
There are many ways that publishers identify their books as first editions. Some common identification methods are:

"First Edition,"
"First Printing,"
"First Published,"
"Published," or
"First Impression," appearing on the copyright page.
A number line such as 9 8 7 6 5 4 3 2 1, or something similar.
The date on the title page matching the date on the copyright page.

Number Lines
Number lines have been used extensively post-war. The line commonly is a series of numbers (e.g. 9 8 7 6 5 4 3 2 1 or 1 3 5 7 9 8 6 4 2). Usually, the "1" signifies a first edition. For the second printing, the "1" is removed, leaving the "2" as the lowest number. A number line may be accompanied by a date line, e.g. 9 8 7 6 5 4 3 80 81 82 83 84 indicates a third printing, published in 1980.

Date Matches
If the date on the copyright page matches the date on the title page, it is likely to be a first edition. There may be a series of dates on the copyright page, usually because some of the work appeared, at an earlier time, in a different publication. In this case, if the latest date on the copyright line matches the title page, then it is a first edition.

Valuing First Editions
It does not follow that all first editions are valuable. Every published book has a first (and often only) edition. For a first edition to have value there must be a demand for it. If the supply of a book exceeds its demand, the fact that it is a first edition is of no consequence. Valuable first editions tend to be those published in small quantities. For example, an author's first books, published before they became well known. A similar example might be a small-press publication by a much-collected poet. In such a case, the supply remains low while demand rises. Condition also has a great effect on the value of a first edition. Book collectors will pay a premium for a copy that looks like it just left the printing press ("fine" condition). However, if a book is extremely rare, a copy in "good" condition may be in acceptable.

In 1997, Bloomsbury published J.K. Rowling's book, "Harry Potter & the Philosopher's Stone," the first in an eventual series of seven. No one anticipated that it would become a worldwide phenomenon, and the first edition was reportedly only 500 copies. The books' popularity with readers caused the publisher to publish much greater quantities of the subsequent books in the series, in order to meet the great demand. As a result, it's much easier to locate a first edition of the later books in the series and this is reflected in their prices. A first edition of the sixth book in the series, "Harry Potter and the Half-Blood Prince," currently fetches a maximum of 80, if in fine condition. However, a first edition of "Harry Potter & the Philosopher's Stone" was sold at auction in June 2007 for 7,200. Some booksellers have offered the book for much more.

Asking Prices & Selling Prices
When browsing for books on the Internet, remember that any prices listed are asking prices, not selling prices. A book listed for, say, 100, may have been offered at that price without a sale for years. In the interim, copies of the identical book (same edition & condition) may have been sold by other dealers for half the price. As with any other commodity, a book is only worth what someone is willing to pay. When a dealer buys a book, he will usually pay between ten and thirty-five percent of its retail value. If the is in the dealer's specialist area and extremely desirable, he may offer more, as he knows he can sell it straight away. However, for the majority of books, forty to fifty percent is too much for a book to sit on a shelf. Realize that different dealers may value the same book differently. Some will take books on a commission basis, offering you a percentage of the selling price.

Researching the Value of Your Books
Familiarise yourself with your book(s), taking careful note of copyright date, printing history, publisher and other details. Look up your book on the Internet. Compare your book to the details of each book listed, comparing the publisher, year published, edition, condition and any physical description of the book. The details are important: If your copy is a 3rd printing, or a book club edition, it won't have the same value as a first edition; if it shows obvious wear, it won't sell for the same price as a copy in fine condition. Again, pay close attention to detail, comparing what you have to what is advertised for sale. When you've found some books that are like yours, compare prices. The current retail value of your book is probably somewhere in that region. Another route is to contact a local bookseller who offers appraisals. Check your local phone directory under "books, used - dealers" to find an appraiser. Or, contact a local auction house if you believe your books may be very valuable. When searching online, you may come across a situation where there are, say, ten copies of a book offered by various sellers at prices ranging from 5-10 and one offered at 50. There could be a good reason; it could be a more desirable copy of the book. However, it could also be that that seller is unrealistic about the book's value. He may be just downright ruthless, trying to take advantage of the notion some people have that expensive must be better. Unfortunately, there are a many of these types of vendors. Pay careful attention to what's being offered, and ask plenty of questions. A good bookseller will be glad to answer your questions helpfully.