The picture used on the cover of the first book in JK Rowling's series sold for $1.9 million (£1.5 million) at an auction held by Sotheby’s in New York on Wednesday.
The dealer mentioned that it was the "most valuable Harry Potter item ever sold in an auction."
A first edition of Harry Potter and the Philosopher’s Stone was believed to be the most expensive item ever sold from the fantasy series. It was purchased for $421,000 at Heritage Auctions in Dallas in December 2021.
The illustration by Thomas Taylor, which appeared on the first edition of the novel in 1997, was sold after a competitive auction where four bidders battled for nearly 10 minutes.
Sotheby’s stated that the artwork had an estimated value of $400,000 to $600,000, which they say is the "highest estimated value ever set for any Harry Potter-related item before an auction."
The watercolor painting was initially put up for auction in 2001 at Sotheby’s London, at a time when only the first four books of the series had been released.
Back then, the illustration showing the young wizard with dark hair, round glasses, and a lightning bolt scar, traveling to Hogwarts by train, was valued between £20,000 and £25,000. However, it ended up selling for £85,750.
Taylor, who later wrote the children’s series Eerie-on-Sea, received his first professional job with Harry Potter when he was 23 years old. He was asked by Barry Cunningham, a publisher at Bloomsbury, to create illustrations for the character. Taylor completed the illustration in two days.
He painted using strong watercolors on textured watercolor paper and added details with a black Karisma pencil. Taylor was one of the early readers of the manuscript.
All bids include an additional fee paid by the buyer.
SOURCE: The Guardian