The winning bid for the first novel by J.K. Rowling that launched Pottermania went to an anonymous buyer. Bonhams auctioneers had estimated the book would sell for between $10,000 and $20,000.
First editions of "Harry Potter and the Philosopher's Stone" — published in the United States as "Harry Potter and the Sorcerer's Stone" — are valuable because of their rarity, the auction house said. The publishers produced between 500 and 1,000 copies in the book's first run.
That a book that is relatively new would fetch such large amounts is unprecedented, said Luke Battenham, Bonham's book specialist.
"The author is still alive, it's a fairly new series ... but by the time there was a third book, you could already see it would be a hit," Battenham said. "It's a phenomenon."
The sale comes less than a month before the July 21 release of the seventh and final book in the "Harry Potter" series. The books have sold more than 325 million copies worldwide.