Just a brief note—I received positive confirmation from Steidl in Germany this morning that there is no difference between the first and second printings of Saul Leiter: Early Color.
So, see Andy Moursund's last paragraph in the post "First Editions and Second Printings," below.
Featured Comment by Christopher Lane: "Frankly, I feel a bit troubled by all of the discussion here about the monetary value of Saul Leiter: Early Color regardless of which edition or printing we are discussing. The real value of this work is the images it contains, not the potential appreciation. In the end we are only caretakers of the objects that we possess. I acquired this photo book a few weeks ago after Mike’s first alert. Being a devotee of the Ansel Adams school, a friend of mine suggested that I wouldn’t like it. The night it arrived I spent some time paging through it. I found it to be a revelatory and instructional work. I was amazed at the creativity found in these pages and it has certainly changed my views on the nature of photography. This is a work that I will study and cherish for years to come."
Mike replies: I don't buy photobooks as investments and I almost never advise other people to do so (unless they have more expertise than I do—and more space). As I've mentioned before, where the price of a book really comes into play is that when books go out of print and then quickly appreciate on the used market, it can affect my ability to acquire the book, and I assume many others are the same way.
One example I've used in the past is The Book of 101 Books, which was too expensive for me when new at $100. Now, the cheapest you can get it for is $750 for the Deluxe Edition—used copies of the regular hardcover start at $825 and go up considerably from there. In other words, it's a book I'm never going to own. I had my chance—and missed it.
There are many books I would really love to have that have appreciated right out of my price range. So, as I've written before, it's becoming increasingly important to buy books you really want when they're available new, simply because that might be the best opportunity you have to buy them for a reasonable price. That's really what's behind any discussion of value and money on this site, rather than any consideration of buying and selling books purely for monetary gain (not that there's anything wrong with that).