A rare hardback copy of Harry Potter and the Philosopher’s Stone has been sold for £10,500 at an auction – having been purchased for only 30p.

The winning bid, which was well above its estimated value of £3,000 to £5,000, came online from Los Angeles.

Published by Bloomsbury in 1997 with a laminated board cover, the book is one of only 500 first edition first impressions and, of those, one of only 300 sent to libraries.

It also has an o missing from the word Philosopher’s on its back cover.

The novel was initially snapped up at the bargain 30p price by an anonymous man from Staffordshire after being withdrawn from Wolverhampton Library.

The buyer died at the beginning of the year and the auctioneers behind the sale, Richard Winterton, had to rummage through hundreds of boxes of his belongings to find it.

It still carries its library identification sticker, a spine sticker with the letter J, and withdrawal stamp.

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Auctioneer Richard Winterton said: “We’re absolutely delighted with this result.

“The first in the original series of books by JK Rowling, this copy has clearly been well-read and still has its library identification sticker, spine sticker with the letter J, withdrawal stamp and 30p selling price.”

The book’s high estimation was partly down to its “much-loved condition” as a former library book.

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To identify a first edition of Harry Potter and the Philosopher’s Stone check the publisher is Bloomsbury and the latest date listed in the copyright information is 1997.

The print line on the copyright page must read “10 9 8 7 6 5 4 3 2 1” and check for that missing Philosopher’s “o”.

There is also a typo on page 53 where the item “1 wand” appears twice – once at the beginning and once at the end.

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