Collectible first-edition books growing in value

Global Business

Collectible first-edition books growing in value tn2

What do you invest in if you have a lot of spare money lying around? For some people it’s property, art, or vintage wine. But as rare, first-edition books gain value, those old hardbacks gathering dust on your bookshelf could turn out to be treasure troves.

CCTV America’s Paul Barber reports from London.

Collectible first-edition books growing in value

Collectible first-edition books growing in value

What do you invest in if you have a lot of spare money lying around? For some people it’s property, art, or vintage wine. But as rare, first-edition books gain value, those old hardbacks gathering dust on your bookshelf could turn out to be treasure troves.

Today, a first edition copy of “The Great Gatsby” could be worth over $360,000.

A first edition of JRR Tolkien’s “The Hobbit” is worth nearly $100,000 – while the James Bond novel “Casino Royale” by Ian Fleming could fetch up to $35,000.

So even for collectors without any interest in reading, first edition books are an increasingly viable investment option.

Stanley Gibbons said the value of these tomes has grown nearly 400 percent over the past decade.

The rise of e-books had writers and lovers of the printed page worried this was a dying medium. But research by professional services firm Deloitte estimates 80 percent of all books sold last year were published on paper.

So curling up with a good book may not only be nourishment for the mind the right one might also boost your bank balance.