Rare Harry Potter first edition sells for $400,000

By Charlie Fenton

A rare first edition of Harry Potter and the Philosopher's Stone with only 500 known copies has sold for £300,000 ($400,000) at auction.

Philosopher's Stone was the first of the seven core novels written by J.K. Rowling, 61, which later went on to be turned into blockbuster films.

The book is a hardcover first printing dating back to 1997, when it was published.

It includes all of the first edition pointers, including the Wendy Cooling review printed on the front board and the iconic misprint of '1 wand' listed twice on page 53, according to seller Heritage Auctions.

Others include the copyright page listing the author as "Joanne Rowling", and the rear board having misprints of "Philospher's" and "Wizardry and Witchcraft."

All 5,650 copies of the hardcover and paperback first editions were published on the same date, and neither has "bibliographical priority", the auctioneers said.

But the hardcover edition remains notably scarcer, as only 500 copies in this binding were produced, made for distribution to public libraries.

Auctioneer Samantha Sisler said: "This is personally one of my favorites, I'm sure it was one of yours.

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"The books were given to libraries for children to read. Finding one in this quality is quite remarkable."

After a four-minute bidding war, it sold on October 14 for £242,617.28 ($320,000) at Heritage Auctions headquarters in Texas.

Including buyer's premium, it totals £303,271.60 ($400,000).

The listing mentions the book - which was published by Bloomsbury - is thought to be in great condition, with light rubbing at spine ends and corners, and spine ends just pushed.

It also mentions a few minor scratches to rear board and the text lightly browned, though less so than usually found.

It was sold as part of the Heritage Auctions rare books signature auction.

Other sales include a first American edition and first printing of Harry Potter and the Sorcerer's Stone signed by Rowling which sold for £14,215.86 ($18,750), including buyer's premium.

A first American edition and first printing of Harry Potter and the Chamber of Secrets signed by Rowling which also sold for £3,032.72 ($4,000), including buyer's premium.

A first American edition and first printing of Harry Potter and the Prisoner of Azkaban signed by Rowling also sold for £3,032.72 ($4,000), including buyer's premium.

A first edition of Harry Potter and the Goblet of Fire signed by Rowling sold for £2,274.54 ($3,000), including buyer's premium.