Book Collecting

            As many of my friends and acquaintances know, I read a lot.  I usually read at least two books a week, sometimes three.  I am rarely move than fifty feet from a book I am reading at any moment.

            I have even been a book reviewer. Yes, you might say, I am hooked.  I am hooked on books.  My personal library (I don’t use Kindles) numbers around five thousand books and growing. I said to myself that, since I had so many books that I might look at collecting rare books. So about ten years ago I started collecting rare books.  And in particular, a couple of them have skyrocket in value.  I do not want to bore you, but it is safe to say that the first edition, first printing of “Catcher in the Rye”, signed by J.D. Salinger and the first edition, first printing of “To Kill a Mockingbird” inscribed by Harper Lee, have greatly increased in value over the years.  It did not hurt when “To Kill a Mockingbird” was mentioned as the second most influential book of the twentieth century, next to the Bible.  “To Kill a Mockingbird” is now even a Broadway play.  By the way, Harper Lee did not do very well with the only other book she wrote “Go Set a Watchman”. But one out of two is not bad. 

            Many readers I know have turned their passion of reading to a hobby. 

            Rare books is one category of collectibles that has steadily increased in value.  And it will continue to do so.  In economic terms, it is supply and demand. There are only so many first editions of any book. 

            Nearly every family owns books. Unfortunately, the average American reads roughly two books year. For years the average American read only one a year. Sad, but true. 

            However, it might be worthwhile to pick up some books you might have in the house, look to see who the author is. Is it a first edition?  A first printing? Is it signed? 

            As with many collectibles, “condition” is extremely important.  A person should buy a book in the very best condition that he or she can afford.  Usually booksellers will grade books from “Fine” down to “Poor”.  However, keep in mind that each bookseller may grade books different.

            If possible, try to buy a book that has an original dust jacket. Dust jackets are also graded.  Having an original dust jacket is imperative for serious collectors. It is often cited that a first edition of “The Great Gatsby” by F. Scott Fitzgerald with a dust jacket was auctioned for $182,000.  Without a dust jacket a first edition of the same book went for less than $10,000.

            Of course, it will be rare for you to find a book in your personal stash that is signed by the author. But a signature can increase the value of a book many times.  First editions are also highly desirable. However, the book’s condition is the most important determinant of its value.

            Many collectors will take a chance on collecting first editions of unknown authors. You do not have to look further than John Grisham or David Baldacci or even Dan Brown. Grisham’s debut book was “A Time to Kill”, Baldacci’s was “Absolute Power” and Brown’s was “Deception Point”. Of course, nobody knew that their first books would someday be valuable commodities, and have movie producers bidding for the right to turn their books into movies. J.K. Rowling’s Harry Potter books are immensely valuable, if you have the original printings. 

            But it does take patience for new authors to become icons. Most of the valuable books in the book collecting arena are those by legendary authors, such as Ernest Hemingway, Agatha Christie, F. Scott Fitzgerald, to name only a few. 

            It also helps if the author is a recluse or has a shroud of mystery. Agatha Christie disappeared in 1926 for several days, J.D. Salinger was a hermit who spent much of his adult life in Cornish, New Hampshire, and Harper Lee, who shunned publicity, and rarely ventured from Alabama.  

            If you have the desire to collect books, make sure that you buy from a reputable dealer. Booksellers such as Bauman Rare Books (Las Vegas, New York), Royal Books (Baltimore), Ken Sanders Rare Books (Salt Lake City) and AbeBooks (www.abebooks.com) are good places to start. Lemuria Books in Jackson, Mississippi has old Grisham signed books.

            I have found book collecting to be very rewarding. Collectible books will continue to increase in value. I only wish I would have started sooner.