Rare Harry Potter Book Bought for £30 Could Fetch a Fortune

A rare copy of Harry Potter and the Philosopher's Stone, which might have been purchased for 30p, might sell for up to £5,000 at auction.

Twelve publishers turned down the first book in JK Rowling's Harry Potter series before Bloomsbury printed just 500 hardcover copies in 1997.

Finding first editions is more difficult than a Potter quest because 300 of those volumes were given to public libraries. Because of this, authentic first editions have the ability to change the base metal coins they were purchased with into pure gold, just like the Philosopher's Stone.

An avid collector of books and memorabilia from Staffordshire rescued and purchased this version from Wolverhampton libraries, as reported by The Guardian. The deceased man, who started trading in books and memorabilia while still in school, passed away earlier this year.

He would go to church fairs and jumble sales and return with a stack of annuals or comics, according to his sister. He packed literally everything into hundreds of boxes for his move four years ago, much of which went into containers.

The book was discovered after a crew from Richard Winterton Auctioneers searched through the owner's things after his sudden death at age 55.

It has clearly been read, which is most appropriate for one of the first few novels that contributed to the early success of Harry Potter, which, of course, quickly developed into a worldwide sensation, according to Winterton.

The Value of First Edition Books

First-edition books are often more valuable than later editions for a number of reasons. First, they are rarer. The first edition is the first printing of a book, and there are typically fewer copies of the first edition than of later printings.

Second, first editions are often more collectible. They are often signed by the author or have other special features, such as original dust jackets. First editions can be more valuable because they are often considered to be more valuable by collectors.

(Photo: by NEIL HANNA/AFP via Getty Images) Hand-written notes by author J.K. Rowling are pictured inside a rare first edition of her book 'Harry Potter and the Philosopher's Stone'm displayed at The National Library of Scotland in Edinburgh, Scotland, on June 26, 2017.

The value of a first-edition book can vary depending on a number of factors, including the author, the title, the condition of the book, and the demand for the book. Some first-edition books can be worth thousands of dollars, while others may only be worth a few hundred dollars.

The Harry Potter and the Philosopher's Stone (UK first edition, first impression) is the first edition of the first book in the series, and it is extremely rare. There were only 500 copies printed, and most of them were sent to libraries. A copy of this book sold for £69,000 in 2022.