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MONEY COMMENT
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I've always known that books can be a good investment. However, I hadn't realised that modern books could be lucrative investments too! That is until I discovered a first edition Harry Potter book fetched £27,500 at an auction last year. And it was only a copy of "Harry Potter and the Goblet of Fire" rather than "Harry Potter and the Philosopher's Stone", which self-respecting fan will know was the first Harry Potter book to be published. The Harry Potter book that commanded that hefty price tag was no ordinary manuscript, but a signed first edition sold by JK Rowling's father. (A signed first edition of the first Harry Potter book would fetch around £10,000, and an unsigned first edition is estimated to be worth £5,000.) Clearly getting an author's autograph helps to enhance the value of a book, and it is also more valuable if there is a personal dedication too. However, an author's signature is only one of many considerations before you contemplate investing in books. The condition of a book is perhaps the most important concern, and whether it has a dust jacket is almost as vital. Therefore, dog-ears, scribbling in the margins, cracked or torn spines will do little to enhance the value of a book. The presence of a dust jacket, according to book collectors, is the biggest single item that enhances the value of a book. Experts reckon that the difference in value between a book with a dust jacket and one without can be as much as fifteen times! Ensuring that you have a rare manuscript is also important. For instance, an unpublished work about Oscar Wilde, "The Wilde Myth", carries an estimated price tag of £50,000. Limited first editions are also highly sought after. In particular, first novels from initially unknown authors who then make it into the big time can be good investments. Consequently, knowledge is a key to investing in books. This assists in identifying good, new authors of particular genres. In this regard, it also helps if you enjoy reading the books you collect as an investment. Buying books couldn't be easier as our high streets peppered with bookshops. Other worthy sources include market stalls, car-boot sales, flea markets, book fairs and antique shops. Selling is a bit tougher, though Internet auction sites have opened up a new avenue for book investors to explore. Nevertheless, traditional auctioneers such as Christie's, Bonhams and Sotheby's, in addition to Bloomsbury Auction, are still worth investigating. However, be aware that a 15% commission on the hammer price is not unusual! Other areas to consider include insuring and storing your book collection. Bear in mind that books are perishable and are a tasty treat for some insects. Furthermore, you may also need to fork out on repairs if you book collection gets damaged.