Bloomsbury Book Auctions is having a Modern Literature auction on April 11th, 2014. Included in this auction are two copies of The Hobbit - a first edition, first impression in good dustjacket, and a first edition second impression copy in much nicer dustjacket. Unfortunately the auction house has misspelled Tolkien's name in both lots (I've submitted a request to fix this, hopefully they update soon). [Update: they fixed it.]

Modern Literature sale
Friday April 11, 2014, 1:00 PM
London, England

Bloomsbury Hobbit 1st impressionLot 139
Tolkien, J.R.R. The Hobbit
"First edition, first impression with plain plates , frontispiece, plate and 8 illustrations by Tolkien, map endpapers, original decorative cloth , slightly cocked, corners a little bumped, otherwise excellent, first issue dust-jacket with ms. correction on lower inside flap , spine very slightly darkened , spine ends and corners a little chipped, small 1/5" portion of loss to head of spine, closed tear to head of loser panel with tape repair to verso, a few small chips and short closed tears to head and foot, insect damage to head of upper flap, split to foot of upper fore-edge , 8vo, 1937."
Estimate £15,000–20,000
Sold for £15,000

Bloomsbury Hobbit 2nd impressionLot 140
Tolkien, J.R.R. The Hobbit
"First edition , second impression, colour frontispiece, 4 plates including 3 colour, 8 illustrations, some full-page, map endpapers, 2pp. advertisements, stain affecting top-half fore-edge of all up to B1 and rear free endpaper, original pictorial cloth, in very good condition, dust-jacket, some very light spotting to panels, slight browning to spine, skillfully restored at corners, foot of spine and section of lower panel near spine, in affect an unusually attractive example of a scarce dust-jacket, 8vo , 1937."
Estimate £4,500–5,500
Unsold