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Old 04-01-2004, 05:48 AM   #2
The Squatter of Amon Rûdh
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That sounds very cheap for signed first editions, particularly at auction when Tolkien's popularity is at an all-time high. Normally when deciding on a value, one would consider the condition of the books, any special features (such as an inscription by the author or any unusual provenance), and whether the volumes are true first editions (those from the first impression) or later printings.

When looking at the condition of the volumes, a collector would be considering whether the binding is original or has been replaced along with its condition, the state of the dust jackets and whether they have been trimmed to remove the price. The condition of the pages themselves would also be considered (no fading or discolouration; no split, torn or dog-eared edges).

One batch of the first impression of The Return of the King has some slipped text caused by a printing error, which is a feature notable in a number of the copies that I've seen for sale on the internet. Features like this tend to endear books to collectors for their scarcity value, but if each volume of a set were from the first print run of the first impression of the first edition, then one might expect those copies as a set to be worth more than the signed copies mentioned above even unsigned, given good condition.

The most expensive first-edition set I've seen was a very early trio of first impressions in near immaculate condition, signed by Tolkien and in a purpose-made gilt case. Inside The Fellowship of the Ring was an unpublished letter from Tolkien to W.N. Beard at Allen and Unwin in which he complains about the corrections to his spelling ('dwarves' to 'dwarfs', etc.). That piece of Tolkien memorabilia, which is still for sale as far as I can tell, would set the determined collector back some £27,000 (US $51,333). Of course it's worth every penny of that.

I'm currently in the process of negotiating for an unsigned first-edition set of The Lord of the Rings for a much more modest price. You can pick up tenth and twelfth impressions in reasonable condition for less than £600 given a bit of luck.
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Last edited by The Squatter of Amon Rûdh; 04-01-2004 at 02:03 PM.
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