An unexpected party

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:

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.

Thanks to The Pearcey Report for the reference.

Precious 'Hobbit' first edition sells for 60,000 pounds - Entertainment - MSN Indonesia News - News