Harry Potter: Pristine first edition of most valuable book bought for £12.99 sold at auction for £69,000

Online and phone bidders competed to buy the ‘as-good-as-new’ hardback copy of Harry Potter and the Philosopher’s Stone — one of only 500 in the first ever Potter book print run in 1997.

The book, which had been kept in darkness, unread and in a protective sleeve for 25 years, went under the hammer at Hansons Auctioneers’ Staffordshire saleroom, Bishton Hall, today (Wednesday, March 9).

The gavel fell at £69,000 to an online USA bidder, meaning the book sold above its guide price of £40,000 to £60,000.

The seller, a retired paper merchant director, 68, from West Sussex, previously revealed that he nearly returned the book to the shop where he bought it from and contemplated asking for his money back — £12.99 — because he thought it had a fatal flaw.

After the sale, he said: “I’m very pleased with the result.

"Though it was a very good copy, the book wasn’t quite perfect. It won’t pay off my mortgage but it will go a long way towards it!”

Jim Spencer, books expert at Hansons, said: “I’m delighted for our vendor. It’s certainly a good return for the £12.99 he paid for the book — and he nearly asked for his money back because he thought it had a fatal flaw."

Mr Spencer has sourced and sold 16 hardback first issues of Philosopher’s Stone to date with prices achieved ranging from £15,500 to more than £60,000 dependant on condition.

“This is the highest hammer price we have achieved so far and deservedly so,” he said. “It was the best hardback first edition of Philosopher’s Stone I have ever seen.”

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