This kind of post can have unintended consequences because online sellers see it and assume that all Nancy Drew library editions are exceedingly valuable when that's not true at all. Even Nancy Drew collectors who aren't interested in library editions misunderstand, thinking that any old Nancy Drew library binding is of high value.
In an attempt to mitigate potential misunderstanding, here's an example of some Nancy Drew library bindings that are of low value. (Click on images in order to see them in higher quality.)
The listing was for 10 Nancy Drew library editions for $24.00, or $2.40 per book. Bulk lots usually offer good deals, but even individually, these books are worth roughly around $5.00 each. If the books were in excellent condition, they'd likely be worth around $10.00 at the most. They aren't valuable, not by a long shot.
This is why: The books are relatively recent, and the cover art is identical to the modern Grosset & Dunlap editions that are still in print. The cover art on these books offers nothing different or interesting. Yes, people collect them, but they command lower prices for a reason. There's nothing special here; they are just a variant. They are also fairly abundant.
Nancy Drew fans want the library editions that are older and that have cover art that is in some way different from the original editions. The preferred ones have cover art that is based on the original editions but has been redrawn. Library editions of this type are interesting and coveted, because they offer something new that is appealing to collectors.
Perhaps the most popular library edition type is this one. It consists of Nancy Drew #1-34, issued in many color variations.
These books are coveted because the covers feature the familiar illustrations that we love, but they were redrawn. They aren't identical to what is on the Grosset & Dunlap books. The bindings are colorful, and the books look outstanding on the shelf. You can't beat the appeal of these books.
A few examples of this binding sold via auction recently on eBay. It's apparent that a few more collectors have entered the fray, deciding to collect library editions. These prices are the highest I've seen yet for this particular style binding.
These prices do not mean that these books should sell for this much. I feel like these are high-end prices, caused by at least one person who is new to collecting library editions. I am not suggesting that the buyer paid too much. They paid what the books are worth to them. Instead, I am saying that sellers should not consider these prices to be the new baseline. These auction results indicate that a few people really covet these books and were trying to win the auctions at all cost.
Years ago, the rule of thumb for eBay auctions was that the actual value was the amount of the third highest bid. The third highest bid on both auctions was $101.00. Around $100 is probably the high end of what could be the considered the value range of these books, let's say $25 to $100. Condition and the binding color matter greatly. These books are red, which makes them pop. The condition isn't that great, but the books are very hard to find.
I wrote all of the above before the third auction closed. Here is the result.
The person who won the other two auctions didn't bid on this one. Maybe they didn't need this one, or maybe they failed to spot this auction. Whatever the case, their absence caused the book to sell at a much lower price.
I mentioned a price range of $25 to $100 for these books. This one went for near the bottom of that range. I have sold a few examples of this binding at auction but mine maxed out at around $100. Some of them sold for quite a bit less. Even $100 is a bit of a high-end price. The actual value is probably around $50.
I usually don't bid on any of these auctions. While I would like to have every color variant for every title, I have 196 different books in this style of binding at present. I won't try to buy one unless it is different and the condition is high-grade enough that it's worth paying a premium.
Fortunately for me, I already have the title/color combinations that were offered in these auctions. Also perhaps in my favor, I haven't updated the cover gallery on my website in many years. Nobody knows for sure what I need and which books could stand an upgrade. For that reason, nobody will know when I could decide to bid on future library edition auctions.
In conclusion, I thought about what my books are supposedly worth based on these recent auctions. If I assign a value of $100 each, then my set is worth $19,600. That's insane! The books aren't worth that much. If I were to decide to sell all of my books, I'm confident that the dispersal of 196 books into the marketplace would cause prices to decrease. There is just no way that my set is worth around $20,000.
If I assign a value of $50 each, then my set is worth $9,800. That's high, but I can kind of see it. Therefore, I will close this post by saying that these books are worth around $50 each, not $100 to $150 each.
Library editions are a niche collectible appealing to a certain demographic. The supply is not unlimited, so prices will always be very volatile.
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