Frankenstein First Edition — Identification, Points & Collecting Guide

The Most Expensive Horror Novel

Mary Shelley’s Frankenstein; or, The Modern Prometheus, published anonymously in three volumes by Lackington, Hughes, Harding, Mavor & Jones on January 1, 1818, is the most valuable horror/science fiction first edition in existence. It is the foundation text of science fiction, a landmark of Gothic literature, a work of permanent philosophical significance about the ethics of creation, and one of the rarest major novels in the English language. A complete first edition in boards has sold for over $1.1 million at auction (Christie’s, 2021), establishing it among the most expensive novels ever sold.

The novel’s collecting significance is amplified by every factor that drives rare book value: extreme scarcity (500 copies printed, far fewer surviving), supreme literary and cultural importance (the Frankenstein myth is embedded in global culture), the remarkable biography of its author (written when Shelley was 18–19 years old), and a publishing context of extraordinary interest (the famous ghost story competition with Byron and Polidori at Villa Diodati).

First Edition Identification

Lackington, Hughes, Harding, Mavor & Jones, London, January 1, 1818

Physical description:

• Format: Three volumes, 12mo
• Binding: Drab blue-grey boards with printed paper spine labels
• Published: January 1, 1818
• Price: 16s. 6d. (sixteen shillings and sixpence for the three-volume set)
• Print run: 500 copies
• Author attribution: Anonymous (published without Mary Shelley’s name)

Volume breakdown:

• Volume I: [xii], 167 pp.
• Volume II: [iv], 156 pp.
• Volume III: [iv], 192 pp.

Critical identification points:

1. Lackington imprint on title pages
2. Anonymous publication: No author named (the 1831 revised edition first named Mary Shelley)
3. Three volumes (the standard novel format of the period)
4. Preface by Shelley (Percy Bysshe Shelley wrote the preface, contributing to the anonymity — many assumed he was the author)
5. Original boards: Drab blue-grey paper-covered boards with printed paper spine labels

Print Run and Survival

500 Copies — The Smallest of Major Novels

Only 500 copies were printed — making Frankenstein one of the scarcest important novels in English:

Why so few: Lackington was not a major literary publisher; Mary Shelley was an unknown 20-year-old; the novel was experimental and disturbing; the print run was conservative for an anonymous debut.

Survival estimate:

• Complete three-volume sets in original boards: Perhaps 10–20 worldwide
• Complete sets in later bindings: Perhaps 30–50
• Incomplete copies (single volumes): More common
• Total surviving copies in any form: Perhaps 200–300

Institutional holdings: Major research libraries (Bodleian, British Library, Morgan Library, Huntington) hold copies, but even institutional holdings are limited.

Market Values

Among the Most Expensive Novels

Record prices: Over $1.1 million for a complete copy in original boards (Christie’s, 2021).

The 1818 vs 1831 Text

A Critical Bibliographic Distinction

Mary Shelley substantially revised Frankenstein for the 1831 one-volume edition (Colburn and Bentley, Standard Novels series):

Changes between editions:

• Introduction added (the famous account of the Villa Diodati competition)
• Elizabeth’s relationship to Victor changed (from cousin to adopted foundling)
• Victor’s character made more passive (less morally culpable)
• Numerous textual revisions throughout
• Narrative framing altered

Collecting implication: Scholars debate which text is “better” — the 1818 version is rawer and more radical; the 1831 version is more polished and is the text most readers know. Both editions are collected, but the 1818 first has overwhelming priority in the market.

The Villa Diodati Context

The Most Famous Ghost Story Competition in History

The summer of 1816 at Villa Diodati, Lake Geneva:

• Lord Byron
• Percy Bysshe Shelley
• Mary Wollstonecraft Godwin (later Mary Shelley, age 18)
• John Polidori (Byron’s physician)
• Claire Clairmont (Mary’s stepsister)

Byron proposed that each write a ghost story. The results:

• Mary Shelley: Frankenstein (1818) — the greatest horror/SF novel
• Polidori: The Vampyre (1819) — the first vampire fiction in English
• Byron: a fragment (incorporated into The Vampyre’s framing)
• Percy Shelley: nothing completed

This biographical context adds enormous romantic interest to the first edition — it is the product of one of the most extraordinary creative gatherings in literary history.

Signed Copies

Non-Existent in Any Meaningful Sense

Mary Shelley (1797–1851) published Frankenstein anonymously, and no signed copies of the 1818 first edition are known to exist:

• The novel was anonymous — signing would defeat the purpose
• Presentation copies to family/friends may exist but are not confirmed in private hands
• Any copy with credible Shelley provenance would be essentially priceless

The Percy Shelley connection: Percy Bysshe Shelley wrote the preface and made editorial suggestions throughout. Any copy with Percy Shelley’s annotations or ownership marks would be an extraordinary association copy.

Collecting Strategies

Strategy 1: The 1818 First (~$80,000–$1,500,000)

A complete three-volume first edition:

• In later binding: $80,000–$300,000
• In original boards: $500,000–$1,500,000
• Single volumes are available for $20,000–$80,000

Strategy 2: The 1831 Revised Edition (~$10,000–$40,000)

The one-volume Colburn & Bentley Standard Novels edition:

• The first to name Mary Shelley as author
• The first with the famous introduction
• More accessible financially
• A legitimate and important collectible

Strategy 3: The Villa Diodati Library (~$100,000–$500,000)

The products of the 1816 summer:

• Shelley: Frankenstein (1818) — the anchor
• Polidori: The Vampyre (1819) — $5,000–$15,000
• Byron: Manfred (1817) — $3,000–$8,000
• Percy Shelley: Alastor (1816) — $5,000–$15,000

Strategy 4: The Science Fiction Origin (~$200,000–$1,600,000)

Frankenstein as the foundation of science fiction:

• Shelley: Frankenstein (1818) — creation/technology
• Wells: The Time Machine (1895) — $20,000–$60,000
• Wells: The War of the Worlds (1898) — $10,000–$30,000
• Huxley: Brave New World (1932) — $10,000–$30,000
• Orwell: Nineteen Eighty-Four (1949) — $20,000–$60,000

The Feminist Reading

Why Frankenstein’s Market Continues to Grow

The academic and cultural reassessment of Frankenstein as a feminist text has expanded the market:

• Written by an 18-year-old woman in a literary circle dominated by men
• Addresses creation, parenthood, and responsibility — read through feminist theory
• Mary Shelley’s own biography (her mother Mary Wollstonecraft, early deaths of children) enriches interpretation
• The #MeToo era increased interest in women’s creative achievement in hostile environments
• Each generation finds new relevance in the text

Buying Advice

What a Buyer Needs to Know

1. Completeness: All three volumes must be present for a complete set. Single volumes are available but should be priced accordingly.

2. Boards vs binding: Original boards are the supreme state but extraordinarily rare. Period bindings are more common and still valuable. Modern bindings represent the most accessible entry point.

3. Spine labels: The printed paper labels on the original boards are extremely fragile and frequently lost. Their presence adds significantly to value.

4. The 1823 two-volume edition: Published by G. and W.B. Whittaker. This is NOT the first edition but is sometimes confused with it by non-specialists.

5. The 1831 edition: Readily distinguished by its one-volume format, named authorship, and Colburn & Bentley imprint.

6. Authentication: For a book at this price level, provenance documentation, expert authentication, and possibly scientific analysis (paper dating, ink analysis) are appropriate.

Where to Find It

• Major auction houses: Christie’s and Sotheby’s handle most Frankenstein sales
• Top-tier dealers: Maggs Bros, Peter Harrington, Bauman Rare Books
• Institutional deaccessions: Extremely rare but possible
• Private sales: Significant copies sometimes change hands privately

The market is small enough that most copies are known to specialists. Working with an expert dealer or auction house is not optional at this level — it is mandatory.