Classic literature is enjoying a sudden surge but it’s the value of the books rather than the words in them that is generating a sales boom.
Pawnbrokers across the UK say they are seeing a dramatic rise in people cashing in on their bookshelves, with mint-condition copies of Harry Potter, Enid Blyton and even Fyodor Dostoevsky works becoming hot commodities.
Harry Potter books are making magic returns with £10,000-plus for mint condition first editions but classics from Enid Blyton and Fyodor Dostoevsky are also big money-spinners, says James Constantinou, owner of the Prestige Pawn chain.
“We’re seeing a major shift with a 300% increase in book submissions this year,” adds James, star of the hit Channel 4 TV show Posh Pawn.
A flawless first edition of Harry Potter and the Sorcerer’s Stone, which was part of an original US print run, recently secured a £10,000 loan, while translation of works by Dostoevsky and Paul Dirac have been valued at around £4,000.
“These editions, printed in the UK with gold-inlaid spines, are significantly more valuable than their US counterparts. In one case, a customer pawned these classics to fund the purchase of an original Russian translation.” said James.
It isn’t just modern blockbusters driving the boom. Works by Russian novelist Dostoevsky and Nobel Prize-winning physicist Paul Dirac have been valued at around £4,000, while Enid Blyton first editions are commanding up to £1,000.
“These editions, especially those with gold-inlaid spines printed in the UK, are significantly more valuable than their US counterparts,” Constantinou added. “In one case, a customer pawned classic Russian translations to fund the purchase of an original copy.”
Children’s literature is also proving a solid investment. A first edition of Kenneth Grahame’s The Wind in the Willowsrecently sold for £32,400.
“Books are resilient, long-term investments – with loan valued climbing by 5-7% annually – and that goes for everything from classic literature to children’s book with a first edition of The Wind in the Willows selling for £32,400.
“Last year, we were getting five book submissions a week, but that has tripled and there is a real feeling that people are becoming more aware of their value so it is worth checking out your bookshelves for any family heirloom first editions that could be worth a small fortune.”
Rare Harry Potter books have good resale value, but they are eclipsed by a first edition of Odyssey by James Joyce printed on handmade paper, which was sold for £275,000. Meanwhile, a first edition of F. Scott Fitzgerald’s The Great Gatsby has been valued at £245,000.
