If you want to read Stephen King just for the pleasure of reading, does it really matter if you get a first edition or a tenth? Probably not. I wanted my daughter to read Eyes of the Dragon this summer. Of course, we bought a paperback -- there is no way she is reading and dragging around my first edition!
When collecting, first editions are essential. Why?
1. A first edition gives you a feel for the era it was prented in. Books looked different in the 70's than they did in the 80's or 90's. Notice how nice a King book looks these days, compared to how cheap they were in "the day." This may sound strange, but the truth is, when I get a first edition I look at the date and think: "I remember what was going on in the world when this book was on the shelves."
This was particularly true of IT. As a child, I remember walking by a stack of books titled "IT" and thinking I would never know what that was all about! Now I own that very copy that could possibly be one of those copies I saw sitting there.
2. First editions are more rare. This naturally makes them more valuable. The hunt is on when searching for the true "first."
3. In some cases, first editions are almost unobtrainable. I have all of the Dark Tower Books first edition -- except . . . THAT one. You know which one, right? The Gunslinger. I have a second edition. And a third edition. But my wife just can't see putting out a thousand dollars for a first. Sigh. It is also especially hard to get first editions of: alem's Lot (with the boo boo), Carrie The Shining, and even nightshift.
4. Bachman books are hard to find in first edition simply because they were published without the King name attached. I found one for five dollars a few years back in a local used bookstore (God bless them).
5. British First Editions add another element to the hunt. I have not tried hard to find British editions, but I have bumped into a few and bought them. Usually at used bookstores that didn't know one King book from another.
I am not sure that books about King are valuable as first editions, though the rule seems to apply for anything: It is worth more in its original state.
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