Today we have a deep dive into a first edition copy of the Wonderful Wizard of Oz. It will IPO on Rally at noon EST 28th April 2021.
Table of Contents
What is the The Wonderful Wizard of Oz (1st Edition)?
Published in 1900, this is a first edition copy of the very colourful fairytale written by L Frank Baum and illustrated by W.W. Denslow.
Rally lists their copy as a first edition variant B. Variant A was just a few books for close friends and family, while variant B was more widely published. Variant C came afterward.
There are several criteria required to be classified as a true variant B, but Rally didn’t address these points in their offering, so it’s impossible to verify its status.
The one visible indicator is the red imprint on the bottom of the book’s spine. Green would indicate a variant A, while slightly different text would indicate variant C.
It’s worth noting that these variants aren’t hard and fast. Of the criteria above, some are present in some copies and others aren’t. Book printing in 1900 was piecemeal and stop start.
It IPOs on Rally at noon EST on April 28th for $90k. There is no retained equity.
Add IPO to calendar
Cultural Relevance
I’d wager name recognition for Wizard of Oz is nearly 100% among Americans over the age of perhaps 18 or so. Most people have seen the film, most people can name the characters (Dorothy, Toto, the Lion, etc). It’s a story everyone knows.
It’s been translated or adapted into more than 50 languages, and the 1939 film is considered a classic.
It’s also the basis of the book and blockbuster broadway play, Wicked. Fun fact, the Wicked Witch of the West is named Elphaba in this adaption — that’s the phonetic pronunciation of L. Frank Baum’s initials (LFB).https://giphy.com/embed/UjYw9fdCEPwU8EDIT
There are numerous clubs, societies, projects, and fanatics that are obsessed with the story. If you’d like, you can spend $60 on a 400+ page book all about all the various Wizard of Oz books. I didn’t do that, so forgive any errors in logic or reasoning below. If you’d like me to do better next time, please sign up for Insider or buy some stuff from our sponsor so I can afford more resources like this 🙂
The book itself was actually just the first of several books in the series. Baum himself penned fourteen books, and there have been dozens of others written by other authors that are considered canon. While the entire series was successful, most people are only familiar with the plot points from the first book (this one).
There are far too many cultural references, satires, etc of this story to list them all, but my personal favourite is the take Supernatural has on it. Points – 9/10
Inferred Value – $65k to $80k
[Detailed Valuation Available to Insiders Only]
Category Strength
The rare books category had a 15% ROI in Q1 2021.
Subcategory Strength
Risk Profile
Asset Growth TTM
Growth Outlook and Future Catalysts
There will continue to be adaptations, remakes, fan fiction, etc for this book. Its solid.
Asset Liquidity
This will have a roughly 90 day lockup period then will trade quarterly.
Platform Risk
Intangibles
Everything I’ve read about Baum (and I read a lot for this piece) indicates he was genuinely a really really nice guy.
Also, the name “oz” came from a file cabinet in his office. The first drawer was files A-G, the second was H – N, and the last one was O-Z. There’s loads of cool trivia like that about this book (and the series).
Points 9/10
Due Diligence Service
If you’re looking to make a big asset investment, we can help you perform due diligence. Stefan created and runs Flippa’s Due Diligence program, and can offer the same service to you.
