007 book auction: cashing in collections can be tricky

First edition copy of 1953’s Casino Royale sold at auction

The first rule of collecting is a collectible is worth exactly what someone is willing to pay for it.

This week, 007 collector Gary J. Firuta’s collection of first-edition James Bond novels, page proofs and other items was sold by Heritage Auctions. The auction showed how prices for collectibles can vary widely.

For example, A U.K. first edition of Ian Fleming’s Casino Royale novel sold for $21,250. (The auction company takes a cut so the seller doesn’t receive the full price.) Heritage has auctioned a number of other first-edition copies of Ian Fleming’s first 007 novel and the Firuta sale is in the middle of a wide range.

In 2010, a first edition copy of Casino Royale was sold by Heritage for $11,950. In 2014, another copy was sold for $32,500. Then, there was a special case. In 2009, a first edition copy of the book, which included a Fleming inscription (“to M”) sold for $50,787.50.

The condition of the book can be a factor. The book sold in 2009 was described by Heritage as a “stunning example of the first Bond novel in fine condition.” The book sold in 2010 was described as a “very good copy of the first Bond novel.” And the copy sold in 2014 was described as “a fine copy of a very rare title in dust jacket and much better than usually seen.”

Meanwhile, with the Firuta sale, the first edition Casino Royale did not generate the highest price. Instead, an uncorrected proof of From Russia With Love sold for $40,000.

Here’s part of the description from Heritage:

London: Jonathan Cape, [1957]. Uncorrected Proof. One of 75 copies printed, though few have survived. Octavo. 249, [7, blank] pages. Publisher’s printed wrappers (with “Uncorrected Proof” at the bottom of the front wrapper.) Some toning and wear to edges of wrappers, front wrapper with crease at lower corner and faint ink notes with erasure marks, spine slightly sunned, some rubbing to spine, hinges starting, title-page a bit loose, page 249 with small hole (very little loss to text). With a Jonathan Cape advertisement for From Russia With Love (“Spring List 1957”) affixed to the inner front wrapper. A very good copy of an extremely rare item.

With a textual change to page 94, in the final paragraph, changing from “In all respects. She is very beautiful. Naïve but obedient.” to “The woman said grudgingly ‘She is very beautiful. She will serve our purpose.'” This was done by Fleming to tone down the lesbian overtones of the passage. Moreover, the published novel features a significant expansion to the novel’s closing paragraphs. (emphasis in original)

What follows are some other highlights of the sale.

–A Moonraker first edition that included a letter by Fleming to G. Wren Howard, a co-founder of publisher Jonathan Cape. The letter concerned a would-be title for the novel, The Infernal Machine. Price: $15,000.

–A first edition of On Her Majesty’s Secret Service that was No. 205 of a set of 250 signed by Fleming. Price: $10,312.50. However, another regular first edition of the novel went unsold.

–A first edition of Live And Let Die, price: $10,000.

–Three first edition copies of Fleming’s final Bond novel, The Man With the Golden Gun. Price: $8,750. Here’s a description:

One copy is the rare first edition, first issue, first state (trial binding) with the gilt-stamped gun on the front board; the other two copies are first editions, second state bindings, one with the first issue green endpapers, the other with the second issue plain white endpapers. Spines lettered in gilt, dust jackets.

Firuta’s collection of posters and related items will be auctioned later this month by Heritage.