'Maximus Pecunia' could be the spell Harry Potter might use to make a small sum of money into a big one. But in the non-magical world, it's not so easy to turn a little investment into a huge profit. Luck also plays a part.
And a 52-year-old woman was indeed fortunate when she purchased a relatively inconspicuous sample copy of the first volume of an as-yet-undiscovered book series from a second-hand bookshop in London back in 1997. Along with two other books, she paid just 40 pence for it. Unread and forgotten, the book traveled with her through several international moves, finally settling in Bologna, Italy, where she resides today. It was there, one evening, that she stumbled upon a report discussing the high prices fetched by rare Harry Potter books. That was the moment it all clicked, prompting her to reach out to book expert Jim Spencer from Hansons Auctioneers in England.
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On February 26, 2024, the rare and well-preserved proof copy of Harry Potter and the Philosopher's Stone was the second lot to be offered in 'The Library Auction' by Hansons Auctioneers in Staffordshire, where it fetched £14,432 (about $18,409) – quite a remarkable return on an investment of just 13 pence.
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Potter expert Jim Spencer commented: “This book so deserved to do well. This proof copy is where the Harry Potter phenomenon began. This is the very first appearance in print of the first Potter novel. The title page mistakenly states the author’s name as as ‘J A Rowling’ instead of ‘J K Rowling and, on the other side, ‘Joanne Rowling’. The author’s signing tours, the midnight queues outside bookshops, the movies, the merchandise – it all stems from this."
Related: This First Edition Harry Potter Just Broke a New Record
Around 200 copies of the uncorrected proof copy were likely printed by Bloomsbury in 1997, and the one currently being auctioned by Hansons Auctioneers wasn't the first to appear on the auction market. The price evolution since 1999 mirrors the growing popularity of the Harry Potter series, meaning that collectors who are keen to purchase should anticipate five-figure sums for the book by 'J A Rowling' today.
