Modern first editions is a growing niche in the book collecting world, and a good place to start for young book lovers with limited budgets.  Despite the use of the word “modern”, this area of book collecting encompasses books printed after 1890.

Value in modern first editions is tied to both the condition of the book and the popularity of the author.  The biggest money goes to volumes in mint condition by sought after writers.  In terms of condition, this means that the pages are clean, the binding is tight, the corners of the cover are sharp, and, if the book was released after 1950 in a brightly colored dust jacket, the jacket is in excellent condition along with the book.  However, books in otherwise excellent condition will still do well with worn dust jackets if they are popular titles by well-known writers.

First Editions-Earliest Print Runs

As publishing a book is almost always a gamble, publishers look to reduce their exposure to loss by printing a small initial run.  These first run, or first editions are at the top of the price range due to the limited number of copies available, although sometimes first runs can be large if a book is by a popular writer coming off a best-seller.  Once a writer becomes popular, however, his or her earlier works frequently become collectible as well.  Sometimes, being adapted for a screen play also increases a book’s value.

Author Inscriptions

A first edition signed by the author is more valuable than an unsigned copy, however, personalized inscriptions reduce the value unless the individual in the inscription is famous in his or her own right.  It’s worthwhile to do some research-the inscription may be to your Great Aunt Sadie, or as in the case of an early copy of Gone with the Wind I came across, the book was inscribed by Margaret Mitchell to her husband.

Books as Investments

First Editions of Prize winners, such as the Pulitzer, the Booker, The Newberry, etc. usually increase in value after the award is announced.  Buy books by writers whose works you enjoy and handle them with care.  Even if they never appreciate in value, they more than pay back their purchase price in knowledge and entertainment.