Rare books can be worth a lot of money – and even more so if they’re signed by the author. In 2024 a signed first edition of James Joyce’s 1922 novel Ulysses sold at auction for $460,500 (£339,000), while rare editions of other books can go for eye-watering sums – even more so if they feature the author’s signature. 

But sometimes that piece of buried treasure you’ve uncovered in the attic or at the bottom of a box of books might not be quite what it seems. One bookseller has spoken of the time someone came into his shop claiming to have a signed edition of J.R.R. Tolkien’s The Hobbit. Published in 1937, it was the prequel to his epic The Lord of the Rings trilogy, and introduced readers to the world of middle-earth for the first time.

However, all was not as it seemed. Reid Moon, who owns Moon’s Rare Books in Utah, lifted the lid on the story on YouTube.

In the video description he wrote: “Guy thought $25 copy of The Hobbit was worth $25,000!” He said: “I had somebody come into the bookstore today and they said ‘I’ve got a signed copy of The Hobbit’.

“I said ‘great, show it to me’, and they said ‘but wait, are you sure you know what you’re doing?’ I said ‘yeah, I’ve sold several signed copies’, and they said ‘show me yours first and I’ll show you mine’.

“I was like, ok, so I pulled out one of the volumes of The Lord of the Rings to show them that it was in fact signed by J.R.R. Tolkien.” Reid then holds up a hardcover copy of The Fellowship of the Ring, the first in Tolkien’s trilogy, and opens the front cover to reveal the author’s signature on the first page, adding: “I mean, come on, that’s just a cool signature.”

He continued: “They said ‘ok, I have a signed copy of The Hobbit’, and I said ‘cool, that’s even more scarce than The Lord of the Rings’, and they pulled it out.

“First of all, they showed me their copy and I said ‘oh, paperback?’ and I said ‘yeah, I’m pretty sure that’s not a signed copy’.” Reid then shows a copy of a paperback edition of the novel featuring an illustration by Tolkien himself of the moment the fearsome dragon Smaug is pierced by an arrow while attacking the peaceful community of Laketown.

He continues: “And they said ‘no, it is. Look, here it is’,” before showing the title page of the book, which does indeed have Tolkien’s signature on it, looking identical to the one Reid showed in his edition of The Lord of the Rings. “They said ‘that’s his signature’,” he said.

“I said ‘that’s what his signature looked like, but that’s not an actual signature. That’s printed, they did that with every copy of that book’. They said ‘no, now you’re just trying to rip me off’ and I said ‘hold on, I think I even have one of those’.”

Holding up an identical copy of the book, he continued: “I went over and showed them that I have another copy and showed them that it also had the signature in it. And I said ‘also, another telltale way to tell it’s not real, pretty sure that was printed after his death. He died in 1973, let’s see when your book was printed’.”

Showing the copyright page of the book showing when it was published, Reid said: “And sure enough I opened it up: 1975.”

How do I know if a book is valuable?

If you’re wondering if any of the books in your collection are worth any money, key is to determine which edition they are. First editions command far higher prices than later publications.

According to webuybooks.co.uk: “There are still thousands of unaccounted-for first-edition copies of the most well-known and sought-after novels in the world. So, however unlikely it is, there’s still a chance that you could have one of those copies sitting on your shelf right now.”

Along with James Joyce’s Ulysses, some other most coveted first editions include F. Scott Fitzgerald’s 1925 novel The Great Gatsby, with some copies going for as much as £246,000. First editions of The Lord of the Rings and Jane Austen’s 1813 classic Pride and Prejudice can both go for up to £140,000. First editions of The Hobbit have sold for as much as £64,000.

Other valuable first editions include Beatrix Potter’s The Tale of Peter Rabbit, worth up to £50,000, and Ian Fleming’s debut James Bond novel Casino Royale, which commands up to £24,000. Prices depend heavily on the condition of the book, and signed copies will usually go for more.