Is £2.5m a bargain for the Bard?

IT set a British auction record for a Shakespeare First Folio and made the highest price ever seen for a printed book at Sotheby’s London (20/12% buyer’s premium) – but hushed voices at the back of the saleroom were suggesting that the £2.5m hammer price represented pretty good value for a near-perfect copy of the most important book in English literature.