How much is my old book worth?

What factors make a book valuable?

How can a book -- an object found in most households - become something of tremendous financial value?

Firstly, there is no single hard and fast rule. Usually it's a combination of factors that put a hefty price tag on a book. The economic formula of supply and demand usually comes into play -- if demand exceeds supply then prices rise.

Scarcity - Firstly, is the book hard to find because only few copies exist? The advent of the Internet showed that many rare books were not actually that scarce. The first American editions of Moby Dick are scarce because most copies were destroyed in a fire. But scarcity can also be created artificially - sometimes publishers will deliberately print a small number of copies, a limited edition, in an attempt to increase desirability.
Next you have to ask -- if the book desirable? Is there demand?

Importance - Does the book have any social significance that makes it desirable? Did it influence literature, like Jane Austen's Pride and Prejudice, or history, like Marx's Das Kapital, or science, like Darwin's Origin of Species? In many cases, the most desirable examples will be the earliest copies of these books.... the true first editions.

Author - Dickens, Verne, Hardy -- collectors want to own particular editions of books written by significant authors. If an author has signed the book, that's always going to increase its value. It's sad but true that the death of a major author usually forces up book prices too.

Edition - Most book collectors are driven to own the first edition first printing of the books they desire. That means the title's first appearance. Later editions and reprints don't have the same appeal. The first appearance of a title in print is usually the one that matters.

Condition - If house-buying is location, location, location, then rare book-buying is defined by condition, condition, condition. Condition can include the presence and condition of the dust jacket. In certain first editions -- like The Great Gatsby - the dust jacket is the defining aspect of the book's value. The combination of condition and edition are very important when defining value.

Age - Age can affect scarcity, but it not usually a critical factor in value. Old books can be found in most attics and basements. Old bibles, old encyclopedias, old copies of Shakespeare's and other common books printed in huge quantities ... they worth very little.

Aesthetics - Is your book beautiful? Is the binding gorgeous? Does it contain beautiful illustrations by a famous artist, or memorable photography? Some collectors do judge a book by its cover and a pretty book can sell for a pretty price.

Association - Sometimes books can gain value by being connected with someone of significance. The most common occurrence is when a book has been owned or signed by someone important.

....So if you have a beautiful first edition of a book of some importance and written by a famous author, and it's become hard to find but it's in great shape, and was once owned by significant person then you have a very valuable book.

Learn more about estimating the value of a book at AbeBooks: http://www.abebooks.com/books/old-books-antique-appraising-pricing/book-values.shtml
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