The Hobbit sold for a record £43,000

A first edition of JRR Tolkien's The Hobbit from 1937 has fetched a record £43,020 at auction including buyer's premium.

The book was inscribed by the author to his aunt having been signed within a fortnight of publication.

Sotheby's specialists Peter Selley and Catherine Porter said they were "thrilled" with the price paid for the book.

Mr Selley said: "Despite the selective nature of the market, it was encouraging to see several new buyers. Material of exceptional quality generally surpassed expectations, particularly items fresh to the market."

A first edition of Beatrix Potter's Peter Rabbit has sold for more than £40,000 at auction.

The book - which sold for £41,825 including buyer's premium - was one of the first 250 copies printed by the author.

It eventually became a children's classic with experts dubbing it one of the 20th century's most important novels in that genre.

A presentation copy of Harry Potter and the Philosopher's Stone inscribed by the novel's author, JK Rowling, was sold for £10,755 including premium.

Also in the sale was a 250-lot library collection featuring a series of rare works written by legendary storyteller Charles Dickens which sold for a total of £331,000.