Why do many collectors primarily buy “firsts”?
Many collectors mainly concern themselves with the first edition, first printing of a book because it is the most valuable and collectible presentation of the book. Historically, first editions tend to appreciate substantially faster and higher than any other edition of the same book. This is for several reasons. First, it is a matter of economics. The first printing generally will have the smallest print run. Whereas, subsequent printings become necessary as a book’s popularity increases, and hence it’s print runs will. Furthermore, a first edition, by it’s very nature, is the closest representation of the author’s original manuscript and therefore best represents what the author wanted to convey. Subsequent printings of the book may stray slightly from the author’s original intention or vision. In general, first editions will increase over time, or at a minimum, usually hold their value; whereas later editions and printings may not exceed their original value ever, and may even decre