Shakespeare First Folio Brings Millions

A copy of the First Folio of William Shakespeare's plays, a significant book indeed, sold at a Sotheby's auction this week for a whopping $5.2 million.

The book is thought by scholars to be the most important book in English literature.

One of only 40 complete copies known to exist, the book was reported to be in outstanding condition. It actually sold for less than the high end of Sotheby's pre-auction estimate of $6.5 million. At a US auction in 2001, Microsoft billionaire Paul Allen paid $6.2 million for a similar copy.

The buyer this time around was London dealer Simon Finch Rare Books.

The importance of this book in the history of literature is significant. Usually referred to as the First Folio, it is technically titled Mr. William Shakespeare's Comedies, Histories & Tragedies. It was published in 1623.

The book contains 36 plays, including 18 that had never been published before. Among those making their first appearance were Macbeth and Twelfth Night. According to scholars, those two plays might have been lost forever had the First Folio not been published.