Yeah, very expensive for a 1959. In that condition, I'd expect it to be a bit under £200 at current (inflated) Hobbit prices. 1959s are a lot more common than 1958 and earlier (though they do seem to be less common than the 1961 12th/13th impressions).
[That said, I paid £205 [IIRC] for my 1959, but it was effectively "as new". I knew I was overpaying, but I must have been feeling unusually flush that week]
This isn't anything too special, and condition isn't great, but thought I'd post anyway as it doesn't pop up all that often. It's a first thus of the altered 4th edition cover (title background filled in): www.tolkienbooks.net/php/details2.php?id=152
3989
1734898
