First edition books, along with antiquarian books, are the most valuable volumes on the literary market today. The prices will change, according to the title, obviously, but in any multiple printing, it is generally the first edition that is the most valuable. Exceptions to the rule may be subsequent editions that were either illustrated, flawed editions that made it to market, or editions that involved extensive changes or additions on the part of the author.

First edition books are highly sought after by book collectors, and can fetch incredible prices. Some are considered so valuable that they are auctioned to the highest bidder. A first edition book that is also signed by the author is worth even more. First edition books that have inscriptions by anyone other than the author, or perhaps a famous owner like a President or historical figure, are worth less.

The reason for these high price tags is simple. In the publishing world, a first edition book is the original, with only a limited number ever made. All others editions are the equivalent of reproductions, like a giclee print of a painting, or a re-release of an album. First editions represent a piece of publishing and literary history that cannot be duplicated.

First edition books are often bought and sold like artwork or antiques. A truly rare first edition will almost never be read, however. The possibility of damaging the volume is too great. Subsequent editions are more suitable for leisurely activity. First edition books held by serious collectors and amateurs alike are usually kept behind glass, or at the very least wrapped in plastic, away from any potential damage from smoke or water.