Book Collecting: What Makes a Book Valuable?

When first starting out as a book collector, one of the biggest questions you will likely have is about what makes a book valuable. To clarify, "valuable" here obviously means collectible or monetary value, not sentimental value. There is no way to put a price tag on a book that's been in your family for generations, unless that book is a Gutenberg Bible or Shakespeare's First Folio.

There are several variables to consider regarding a book's value, and each is important:

1. Condition, condition, condition. Always buy a book in the best condition you can possibly afford. A book is not valuable simply because it's old, and a very old book in poor condition is worth little or nothing. For modern editions, the condition of the dust jacket is easily as important as the condition of the book itself when determining value. In fact, the dust jacket can account for up to 90 percent of the value of the book. For example, a "clipped" dust jacket (one where the original price on the inside cover have been clipped off) can cut the value of a book by 75 percent or more.

Books are "graded" according to condition. The standard grades are As New, Fine, Very Good, Good, Fair, Poor, Ex-Library, and Book Club Edition. You will often see "Near Fine" as well, and it is important to note that Book Club and Ex-Library Editions have next to no value except as reading copies. The problem, especially when purchasing books on the Internet, is that what one person calls Fine may in fact only be Good. If you are unable to personally inspect a book before buying it, at least ask for photographs of the dust jacket, binding, and copyright page.