About Collectible Books
As a hobby and a business, book collecting can be thrilling and profitable. Book collecting is popular because it is not reserved only for the wealthy; people of any income level can enjoy book collecting. Searching for valuable books can be exciting and rewarding, much like treasure hunting.
Why Collect Books?
There are three main reasons why people collect books: for the excitement of the hunt, for the love of literature and rare books, and for the potential of making money. Valuable books can be found in the most unlikely of places such as discount book bins and thrift stores. It is this often exciting search for rare and valuable books that motivates many booksellers and collectors.
Also, much of book collecting involves an increase in value over time, so a book that may be a relatively inexpensive investment now, could be worth hundreds or even thousands of dollars down the road. Antiquarian booksellers and authors of several books on collecting, Allen and Patricia Ahearn, for example, bought a first edition copy of J.D. Salinger's "Catcher in the Rye" in the early 1960s for under $20. Today, a nice first edition of this classic novel sells for $2,500. Collecting books can be a decent investment, especially when you can sell a book for more than you paid. But be aware that book collecting is not profitable as a short-term investment as it is likely that anywhere from 5-10 years or more must pass until you'll see any significant appreciation in value. It is therefore common for book collectors to pass their collections down to their children as part of their estate.
Often, people who love to read decide to collect books just out of the sheer love of literature just as someone who appreciates fine art enjoys collecting pieces to display in his home. Such as an art collector would treasure an original Picasso or Renoir, so a book collector would value a first edition of "To Kill a Mockingbird" or a Harry Potter novel signed by the author. Whereas a non-collector would be satisfied with a library or paperback copy to read, a book collector strives to find more rare and special copies.
Decide Which Books to Collect
Some collectors focus solely on one genre of literature, like science fiction or classics, or only books from a certain author or time period, while others collect many different types of books. Some collect different versions of the same classic book like "Gone with the Wind" or "Alice in Wonderland." There is no particular genre or author that's always more valuable; what collectors acquire is purely a matter of their own preferences. Series of books are often greatly valued by collectors. For example, it may be nice to acquire a first edition Nancy Drew novel from 1959, but a collection of the entire 56-book series would be a real treasure to an avid collector.
What Factors Determine a Book's Value?
Determining the value of a book is not an exact science and depends upon a number of factors. According to the Antiquarian Booksellers' Association of America, "The value of a book is affected by a variety of factors, including the intrinsic importance of the work, its scarcity, and collectors' interest in it. In general, the books most sought after are the great works in the humanities and the sciences, usually in the first editions."
Other factors that affect a book's value include its condition, binding, place of origin and whether or not it is signed by the author or has any other inscriptions. A book's condition is critical to its value to a collector. Book collectors take great pains to protect their books from age and wear; many books are wrapped in plastic and never opened. Of course, you may want to read a collectible book; if so, you should do it very carefully so as not to rip or dirty any pages or crack the binding. You should remove and carefully store a book's dust jacket as while you are reading it, it is possible you may damage it. Books should be sold with their dust jackets whenever possible; without its jacket, a book's value will likely be reduced up to 90 percent. A book that is considered in excellent condition is as close in appearance to the day it was printed as possible. When a seller puts a book up for sale, they describe the book's condition in great detail. Books that are in excellent condition are often called "as new." An upper end book might be described as "very fine" or "fine." Below that, a book may be "very good." Books that are not in good condition will not likely bring a profit unless they are extremely rare.
There is not just one easy reference which lists the prices of collectible books, but rather thousands of "price guides" which booksellers and collectors use to help determine a book's monetary value. But these guides are just that, general guidelines by which books are priced. There are many other factors to be considered and books are commonly sold for much different prices than the guides suggest. Oftentimes, regardless of what a price guide says, a buyer might be willing to pay even more if a book is of particular sentimental value.
Examples of commonly used price guides are: "Book Collecting 2000: A Comprehensive Guide" by Allen & Patricia Ahearn and "20th Century First Edition Fiction: A Price and Identification Guide" by Thomas Lee.
Book Collector Community
Avid book collectors will seek out book signing events, often traveling long distances to meet authors and have their books signed. In addition to the excitement of meeting famous authors, having a book signed by its author can increase the value of a book greatly. Book conventions such as BookExpo America provide opportunities for booksellers and collectors to meet and share their experiences. At these conventions, books are bought and sold, and many famous authors attend to speak and participate in book signings.
The Internet has changed book collecting and selling for the better. Finding collectible books and people to buy and sell them is more convenient than ever before. Some booksellers create their own websites or use well-established sites like eBay or Craigslist to buy and sell books. There are also numerous organizations such as the American Booksellers Association and the International Book Collectors Association which provide online resources and information.
Don't Just Get In It for the Money
Although you can profit from book collecting, if money is your main motivation, you are better off investing in the stock market or real estate. For those who truly love books and reading, book collecting is about more that just the economic value of collectible books -- it is really in the satisfaction of having a beloved and rare book on the shelf to be treasured for many years to come.
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