It may be well worth while to hang on to those early editions of the Tolkien books that you bought in the '60s - at least if they weren't read to tatters. But they probably won't be worth nearly as much as this first edition from 1937:
Precious 'Hobbit' first edition sells for 60,000 pounds - Entertainment - MSN Indonesia News - News
Thanks to The Pearcey Report for the reference.A rare first edition of author J.R.R. Tolkien's fantasy novel "The Hobbit" was sold at auction Tuesday for 60,000 pounds (122,000 dollars, 77,000 euros) - more than twice its forecast value.
The book, inscribed by the South African-born British author himself, went under the hammer at Bonham's auction house in London, which had estimated it would sell for 20,000-30,000 pounds.
"The Hobbit" was originally written for his children, but a friend recommended he try to get a publisher. It was released in 1937 and the first print-run of 1,500 sold out immediately.
Precious 'Hobbit' first edition sells for 60,000 pounds - Entertainment - MSN Indonesia News - News
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