A first-edition presentation copy of “The Hobbit” sold for a record $300,000 at Heritage Auctions on Thursday, the highest price ever paid for the book in auction history.
Only 1,500 first-edition copies were printed in 1937, over 15 years before the first “Lord of the Rings” book was published. With excitement surrounding the 70th anniversary of the “Lord of the Rings” trilogy, collectors are seemingly clamoring for all things related to the franchise and its author, J.R.R. Tolkien.
The prior record was achieved in 2015, when Sotheby’s sold another copy for $210,500.
Heritage’s copy hailed from the collection of William Strutz, an attorney who began collecting rare books in the late 1950s and amassed “one of the most important collections of English and American literature that has come on the market in decades,” according to Heritage.
Stutz claimed he collected because he was a “reader” and sought out the most desirable copies of some of the greatest literary works, particularly presentation copies, which were often given directly from the author to a close friend or family member.
This is the case with the $300,000 “Hobbit” copy, which was given to Dorothy Moore, a friend of Tolkien’s wife. The book was signed and inscribed by Tolkien. Adding additional significance is the handwritten date, September 1937 — the same month of the book’s release.
Tolkien illustrated the book himself, creating incredibly detailed and stunning art on its dust jacket as well as throughout the novel. Heritage’s copy was noted for its “exceptional” dust jacket and overall excellent condition.
The sale was not the only record for the auction. As cllct reported Thursday, “The Great Gatsby” realized $425,000, an all-time high for the book.
Heritage also achieved an auction record for a first edition “Walden,” of which only 1,500 were printed, as it sold for $275,000.
Will Stern is a reporter and editor for cllct.