A very rare signed first edition copy of Graham Benjamin and David L Dodd's Security Analysis (1934) has sold for $23,750 at Swann Auction Galleries.
The lot realised an increase of 375% on a $5,000 estimate in the June 17 sale in New York.
 Benjamin & Dodd's Security Analysis is an influential guide to investing |
It's inscribed: "To Jack Mateus, with admiration affection and gratitude, David L. Dodd".
The auction house describes the book as: "Virtually unobtainable in first edition with dust jacket, and with all of the first edition impressions scarce.
"Remains among the most important books on investing written. We locate no other signed copies of this title in any edition appearing at auction."
The book laid the foundations for value investing, which encourages buyers to look behind a firm's securities to gauge its true worth.
A first edition copy of Louisa May Alcott's Little Woman (1868-1869) similarly outperformed, realising $15,600 against a valuation of $3,500 - an increase of 345.7%.
The lot consists of two volumes, described by the auction house as "Uncommonly nice copies".
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