Auction Record: First Edition of Tolkien’s 'The Hobbit'

The rare volume, in pristine condition, was illustrated by the author. Just 1,500 copies were printed when it was first published in 1937.

Credit: Auctioneum

Experts from Auctioneum discovered the book while sorting through the belongings of a recently deceased homeowner in Bristol, south west England. Caitlin Riley, the auction house’s book specialist, was rifling through a “run-of-the-mill bookcase” when she came across a pale green hardcover decorated with mountains and a dragon. “It was clearly an early Hobbit at first glance, so I just pulled it out and began to flick through it, never expecting it to be a true first edition. I couldn’t believe my eyes! There are a few key details to look out for when spotting one of the first editions, and as I looked into each one, they were all there. When I realised what it was, my heart began pounding.”

Upon publication, the novel was a huge success. In 1938, a review by The New York Times said: “This is a book with no age limits. All those, young or old, who love a fine adventurous tale, beautifully told, will take The Hobbit into their hearts.” It would go on to become one of the best selling books of all time, with over 100 million copies sold worldwide.

The novel, which follows a hobbit named Bilbo Baggins, takes place about 60 years before the Lord of the Rings trilogy.

Experts had expected the book to sell for a maximum of £12,000 (about $16,000). The final price, £43,000 (around $57,000), is a record for a first-edition copy without the dust jacket, says BBC News. But other first-edition Hobbits with book jackets have fetched much more. One sold for £60,000 (roughly $122,000) in 2008, while another brought in £137,000 (about $182,000) in 2015.

Discover more about the writer and his books by visiting the official website of the Tolkien estate.