For a collector of modern first editions, there are few books put on a higher pedestal than The Hobbit by J.R.R. Tolkien. Last month a collector purchased a first edition of this novel, via AbeBooks, for more than £12,000. The Hobbit is considered the archetypal epic fantasy novel and is thoroughly entrenched in popular culture, but this was not always the case. Published in 1937, the book was a slow burning success, receiving encouraging reviews and earning subsequent printings and a North American release after several months. The book really took off in the 1960s when publishers reissued a massive number of affordable copies in the United States. Bilbo Baggins, Gandalf, Smaug the dragon and Gollum have become some of the most famous fictional characters in literature. Gollum's hissed catchphrase 'My Precious' is known around the world. Two other modern firsts to appear on March’s list of pricey sales were a signed copy of Do Androids Dream of Electric Sheep? by Philip K. Dick and Cormac McCarthy’s semi-autobiographical novel Suttree. Speaking of autobiographical works, a buyer paid £5,900 for a first edition of No Easy Walk to Freedom by Nelson Mandela. This book was printed in 1965 while Mandela was still imprisoned. This particular copy was signed by Mandela after his release.