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FORGET STOCKS AND SHARES - INVEST IN BOOKS AND BEAT THE RECESSION

(Victoria, BC – 30 October 2008) Shocked by the stock market? Crocked by the credit crunch?  Invest in literature and build a library of collectable books that will increase in value and out-perform the FTSE. Sharp-eyed booklovers who picked up early editions, or signed copies, of classic literature are now in possession of books worth thousands of pounds, but spotting the next Ernest Hemingway, Salman Rushdie or even JK Rowling takes skill and knowledge.

AbeBooks.co.uk - the world’s largest online marketplace for secondhand, rare and out-of-print books - has compiled a series of tips for would-be literary investors, but first check out three examples of how a book’s value can soar.

Lord of the investments: The most expensive book ever sold on AbeBooks was a first edition of The Hobbit by JRR Tolkien for £43,500 – only 1,500 first edition copies were printed in 1937 and it became an instant bestseller. Prices for these recession-resistant editions keep sky-rocketing.

Cracking the code: In 2003, a former song-writer called Dan Brown was just another thriller writer on a book tour. Sometimes only a handful of people turned up to his signings but those folks had foresight.  In May 2006 with The Da Vinci Code movie in cinemas, AbeBooks sold a signed first edition of The Da Vinci Code for £2,800.

As good as gold: As American swimmer Michael Phelps won medal after medal in Beijing, prices for scarce signed first editions of his 2004 autobiography, Beneath the Surface, soared into three figures. At the end of the Olympics, they were selling for £264.

BASICS OF BOOK COLLECTING

• First editions – they’re the mainstay of book collecting, so always check the title page.
• Signed copies – the author’s signature boosts value (anything signed by JK Rowling is valuable)
• Hardback – paperbacks rarely become collectable
• Good Condition – always affects value, everyone wants a mint condition book
• Knowledge & passion – collect what you like and know (at worst you’ll own books you adore)

A signed hardcover first edition in unread perfect condition is as good as it gets.

KEY FACTORS AFFECTING VALUE

Small print runs – unless a publisher thinks they have the next Harry Potter, first edition print runs from unknown writers are small. Printing mistakes can also curtail first print runs.
Rave reviews – a glowing recommendation from The Times can put a book on the map;
Word of mouth – popular appeal can drive up prices. The Kite Runner was a word-of-mouth success;
Awards – literary prizes boost prices overnight. Check out shortlists and pick the winner;
Movies – Hollywood can inflate prices but usually the book has already become collectible;
Controversy – banned books and court cases create publicity and boost value;
Author R.I.P. – prices always increase after an author passes away. If the death is unexpected (such as David Foster Wallace or Hunter S Thompson), values rise very rapidly;
Father Time – Rome wasn’t built in a day. Be patient, let demand grow and keep your book safe.

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About AbeBooks
An online marketplace for new, secondhand, rare and out of print books, AbeBooks offers millions of books for sale from thousands of booksellers around the world. AbeBooks has been selling books online since 1996, and is based in Victoria, BC Canada.

Contact:
Richard Davies, PR manager, AbeBooks Office Ph: (001) 250-412-3238 Email rdavies@abebooks.com