On Why Limited Editions May Actually Be Distracting to a Collector

I collect limited editions. I think that many collectors, including myself tend to be distracted by the over-valuation of limited editions in a collection. We are attracted to the limitation of the run, the production of the book (when produced by a quality publisher), the possibility of the increase in monetary value, and the “bragging rights’ of having in our collection of a book that is well sought after. We are enthralled by the possibility of a book that would be produced with high quality materials and techniques.  We think the limited edition is superior to the trade editions just on the fact that it is limited.

I also think that it could be detrimental to the collector’s overall collection if they focus on these limited editions and forgo any other type of edition of modern or even out of print books.  Unless said collector is only compiling a limited edition collection.

Limited editions tend to have inflated importance to the collector.  I wrote about this inflated sense of importance for a collection in three entries about collecting limited editions.  At times the limited edition is the only edition and the prospect of a trade edition coming out is slim since the author may be only small press material but good enough to include in your collection.  These authors are few. Most small press authors that don’t end up expanding their publication credits to the bigger publishers aren’t worth collecting for the long term.

The problem is that this sense of importance is transferred to limited editions that are reprints of works that have had first editions in the mass market place. Also included with this is the idea that a limited edition of even a crappy book is worth something because it is a limited edition. This idea of a limited edition can distract the collector and divert money from a worthwhile purchase because of a false sense of rarity set by the limitation number.

As an example, a small press announces that they are issuing a limited edition of The Books of Blood by Clive Barker.  They will be releasing it in two states, a run of 360 numbered and 26 lettered.  The standard bells and whistles for the limited and lettered editions apply.  And there is even a tray case for the lettered.   They plan on retailing the numbered at $75 and the lettered at $350.  That is pretty standard.

The Books of Blood are an essential book to have in a collection.  Having this limited edition in a collection would be pretty good.  A signed edition by Barker, good bindings, and some bells and whistles.  The books look good and produced well.  The small press is going to sell out of them pretty quickly.  Collectors jump at the chance. And in the long run, though not a first edition of the book, this limited edition could be a worth while addition to a solid collection.

In the meantime, you can get a first edition, if you search well enough, signed by Barker for about $75 for a fine copy of the first edition of the book.  Which is more important?  The limited edition is rarer since the print run is smaller and the production quality is better than the cloth hardcover of the first edition.  But the limited edition is also a reprint.  (Barring any additions to the text, which would just change the edition) This is mostly a judgment call.  Though I would be interested in the limited edition I think I would more than likely purchase the first edition, signed, since, to me, that is a better investment for my collection.

Recently I have decreased my spending on limited editions.  I have a few publishers that I collect but overall I have moved to actually building some depth to my collection by adding a few very important volumes than purchasing the new and improved limited edition from ABC Press.

What does this mean?  Well looks like the small press balance sheets are going to decrease for 2008 ( I kid, I kid.) It really means that instead of dropping $500 on a limited edition I would take that $500 and purchased a fine copy of a first edition of an author I am focusing on.  Or I would sock that $500 away and save for a first edition of an MR James collection.

This does not, however, mean I am done with purchasing limited editions.  Just recently I acquired three Hill House Publishers limited editions of the Neal Stephenson trilogy, The Baroque Cycle.  This trilogy is just outstanding, I’m still looking for the first editions, but the fact that Hill House puts out an outstanding quality book of this excellent trilogy it was almost too good not to purchase.

What I guess I am really trying to convey is, purchasing limited editions needs to have the same contemplation as buying any other high ticket book.  You have to think about what you want in your collection. what is important for your collection, and what will stand the test of time.  A shelf full of limited editions of a small press that publishes less than fine authors is not worth the same as one first edition of a genre defining book.