London – A first edition of J.K. Rowling’s debut Harry Potter novel is expected to sell for a magical sum this month, auctioneers say.
Bonhams auction house said Wednesday that the hardback edition of “Harry Potter and the Philosopher’s Stone” (sold in the United States as “Harry Potter and the Sorcerer’s Stone”) will probably fetch between $10,000 and $20,000 at a London sale June 26.
“That this book would sell for such a large sum is huge,” said Luke Battenham, book specialist at Bonhams. “It’s a phenomenon.”
Between 500 and 1,000 copies were printed in the novel’s first run, the auction house said. It said publishers typically produce only a small number of copies of new books, before quickly rolling out thousands more editions if a title proves successful.
The initial run is a fraction of the millions of copies printed for the seventh and final edition, to be released July 21, just weeks after the auction.
BLACK HAWK
Nevada Gold to sell Black Hawk parcel
Nevada Gold & Casinos Inc. will sell 268 acres near Black Hawk in a sealed-bid auction.
Nevada Gold is selling the property in an effort to dispose of its noncore assets. The property, called Signal Hill, is south of Black Hawk, just north of the Central City Parkway.
The minimum that the property will sell for is $4 million. Bids for the property are due by 4 p.m. Aug. 2 to Black Hawk Project Manager, Sheldon Good & Co., 333 W. Wacker Drive, Suite 400, Chicago IL.
DENVER
Nacchio denies fraud allegations by SEC
Former Qwest chief executive Joe Nacchio on Tuesday formally responded to the Securities and Exchange Commission’s civil fraud lawsuit, denying the allegations and asking a federal judge to dismiss the suit and to reimburse his legal fees. He also requested a jury trial.
The SEC alleges Nacchio and other former Qwest officials fraudulently booked $3 billion in revenue from 1999 to 2002.
Much of the case had been put on hold pending the outcome of Nacchio’s criminal insider trading case, which ended in April with his conviction on 19 of 42 counts, though his attorneys have said they will appeal.
In the response to the SEC suit, Nacchio cited a defense strategy that arose in his criminal case but wasn’t used during trial – the fact that he was upbeat about Qwest because he believed the company was in line to receive lucrative top-secret government contracts.
DENVER
Trial set for Aug. 6 in BestBank failure
A judge has set an Aug. 6 trial date for the tax charges against Edward Mattar, who was convicted in February on fraud charges related to the failure of Boulder-based BestBank.
Mattar is being tried separately on four tax-related charges: one for evasion on $500,000 of income and three for failure to file returns in 1997 and 1998.
Mattar was chief executive of BestBank when federal agents closed the bank in 1998, causing a loss to investors of more than $200 million. He and two other former BestBank executives, Thomas Boyd and Jack Grace, were found guilty of conspiracy, fraud and false reporting. Sentencing has not been scheduled.
PUEBLO
Lottery hires new advertising agency
The Colorado Lottery appears to have selected Cactus Marketing Communications as its new advertising agency. Denver- based Karsh & Hagan had previously handled the multimillion-dollar contract.
Ashley Boyden, the public relations director for Cactus, said that the company has “been named as a successful offer and are currently in the contracting process.”
Officials for the Colorado Lottery could not be reached for comment Wednesday.
ARAPAHOE COUNTY
Adam Aircraft sells 50 jets to Chinese airline
Adam Aircraft announced that China-based Hainan Zhong Hang Tai General Aviation Airlines has ordered 50 of its A700 very-light jets.
The companies formalized the order during the European Business Aviation Convention and Exhibition in Geneva, Switzerland, according to Adam Aircraft, which is based at Centennial Airport.
Hainan Zhong Hang Tai plans to sell A500 and A700 aircraft for Adam Aircraft and offer lease-back options for air taxi operation owners after A700 delivery.
BASALT
Ranch Marketing handles sale for actor
Basalt-based Ranch Marketing Associates said Tuesday it represented actor Steven Seagal in the sale of his 995-acre Knoll Ranch in Montague, Calif., about 30 miles south of the Oregon border.
The property had been offered for $3 million. RMA partner Billy Long represented Seagal. The actor owned the ranch for about seven years, using it to produce organic herbs and flowers, and distill oils for his company, Diamond Lotus Oils.
DENVER
Frontier’s planes less full in May
Frontier Airlines planes averaged 79.6 percent full in May, down slightly from 79.8 percent a year earlier.
The airline increased its capacity measured by available seat miles by 13.7 percent while traffic measured by revenue passenger miles increased 13.4 percent.
Frontier’s passenger yield, a measure of financial performance, was down 1.8 percent for the month, compared with May 2006.
BOULDER
Quintess sets up fund for expansion plans
Boulder-based luxury destination club Quintess has formed a $125 million fund that will allow it to develop about 30 new residences over the next few years.
Quintess plans to build new residences in high-demand destinations such as Aspen, Los Cabos, Florence, Hawaii, London, Napa Valley, Calif., New York and Paris. It also plans to expand to new destinations such as Bermuda, the Greek Islands, Tuscany and San Francisco.
The club’s portfolio now has 48 residences worth about $200 million available to members.
