On 2/24/2013 1:37 PM, Don Phillipson wrote:
"JenniferJiselle" wrote in
message . ..

I am new to collecting so pardon my ignorance. I recently read that it
may be more valuable in the long run to collect leather-bound collector
book copies rather than 1st editions. I question this and ask for some
statement by an authority about this. Thank you.

These are more like two markets than one. The first (common) consideration
is that high relative price correlates with scarcity: i.e. a first edition
that
is one of 3,000 is probably more valuable than a first edition that is one
of 20,000. Then the class of custom-bound editions overlaps with that
of first trade editions, but only partly. Thirdly literary reputation
(sometimes)
affects price, e.g. a first edn. Scott Fitzgerald is worth more than a first
edn. Warwick Deeping.

But (fourthly) the commercial market is crazy in that an intact dust jacket
can more than double the price. This is logical (#1, scarcity, above)
but nevertheless crazy from any reader's point of view.


In fairness to the dust jacket concern, most people would pay a lot less
for a classic car, say a 1963 Cadillac Eldorado, if it had all of its
chrome removed. The car would not be a complete entity. The same for
books without their dust jackets. They are not complete entities as
originally sold.


Francis A. Miniter