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the different ways some publishers identify a true first printing.

When speaking of first editions and first printings, we are always referring to the hardcover edition. The only exception to this occurs when the book has no initial hardcover run and is released only in soft cover. This is rare for literary fiction, but does occur more frequently in the mystery and science fiction/fantasy genres. When only a paperback first edition exists, the rules regarding condition still apply.

3. Unless a later book became a huge seller, an author's first book will always be the most valuable. This is typically because a first book is usually released with a small first print run, making the book scarce from the outset, and more so if the author becomes popular later. J.K. Rowling is a perfect example of this: the first UK print run for "Harry Potter and the Philosopher's Stone" ("Sorcerer's Stone" in the US) was a tiny 500 copies, which now sell for tens of thousands of dollars. The final book in the series, "Harry Potter and the Deathly Hallows," had a first print run of 12 million, assuring that this book will never be collectible unless it has Rowling's elusive signature. A book must be either scarce or rare, or both, to generate enough interest to cause the value to increase.

4. Signed copies will always be worth more than unsigned copies, but the rules regarding condition and edition trump an autograph. In other words, while a signed first printing of "The Kite Runner" in Fine condition can be worth well over $1000, a signed copy of a fifth printing in Good condition will likely be worth less than the original cover price. Also remember that signed copies of books by an author who is hot today may be over-inflated, and could easily drop in value as time goes on. If you want to collect signed editions, the best way is to go to signings by the author where you can have them signed for free. Some authors will sign and return copies sent to them, but this happens far less often today than in the past. Always check with the author before sending anything.

One last thing to consider is that unless you are planning to become a full-time book dealer, you should stick to collecting books by authors that interest you. This way, even if the value of a particular book doesn't increase (or worse, decreases), you will still have a book in your collection that you actually want, rather than something you bought simply as a commodity.

Learn more about this author, Bruno Somerset.
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