First Edition Of "The Hobbit" By JRR Tolkien Auctioned for $120,000

March 19, 2008 10:20 a.m. EST

London, England (CNS) - JRR Tolkien's first edition of "The Hobbit" was sold at an auction to an unknown bidder for ?60,000 ($120,000). The offer was twice the amount from the expected bid.

The 1937 edition of Tolkien's most successful book, established his reputation as an author. This was before the success of "The Lord of The Rings" trilogy.

Tolkien had originally intended for the book to be for his children but after reading the book, Elaine Griffiths recommended it for publication to George Allen & Unwin.

The first edition sold 1,500 copies and has since sold over 100 million copies all over the world.