This Harry Potter Item Just Became The Most Expensive Ever Sold At Auction—By Almost 400%

 

The cover art used for the first-ever edition of "Harry Potter and the Philosopher’s Stone."

The original watercolor painting that was later used as the cover art for the first ever “Harry Potter” book shattered a franchise memorabilia record when it sold at Sotheby’s auction house in New York Wednesday for $1.9 million—almost four times as much as the previous record holder’s sale.

A watercolor illustration by Thomas Taylor, who was a 23-year-old bookseller when he first painted the work, sold for $1.9 million to become the most valuable Harry Potter item ever sold at auction.

The piece shattered expectations—it was expected to sell for between $400,000 and $600,000—and has increased in value more than 1,650% since it was first auctioned off in London for $108,280 (£85,750) in 2001.

Sotheby’s did not name the buyer.

The piece of art was featured on the first edition covers of "Harry Potter and the Philosopher’s Stone" in 1997 and was again used last year when Bloomsbury Publishing ordered a commemorative reprint to mark the book's 25th anniversary.

The sale of a handwritten manuscript of “The Tales of Beedle the Bard,” a fairytale book referenced in “Harry Potter,” is expected to sell for between $250,000 and $350,000—bidding will close Friday.

BIG NUMBER

$421,000. That was the sale price for the previously most expensive Harry Potter item ever sold. The unsigned first edition of the first book in the series sold in Dallas three years ago. The artwork sold for 351% increase.

KEY BACKGROUND

The artist, Thomas Taylor, was working in a children's bookstore when he received his first ever professional commission from Bloomsbury Publishing to create the "Harry Potter" cover art. He became one of the first people to ever read the original manuscript for the book and, within two days, had painted a watercolor work of a young wizard with a lightning bolt-shaped scar on his head standing in front of the Hogwart Express train. The cover art was used by most international publishers for the book, but it was not used for the American edition.

TANGENT

An upcoming television adaptation of the Harry Potter series from HBO secured a showrunner and director on Wednesday. Mark Mylod, who directed several episodes of "Game of Thrones," "Succession" and the Golden Globe-nominated film "The Menu," is set to executive produce and direct several episodes of the still-untitled show, and Francesca Gardiner, a "Succession" and "His Dark Materials" producer, has been tapped as showrunner and will also executive produce. Little is known about the series so far other than that it promises to be a "faithful" adaptation of the books and will turn each of the original seven novels into a new season over the course of a decade. It is expected to premiere in 2026.