Harry Potter and the Philosopher’s Stone 1st edition sells for $29,875

I’m not surprised that Action Comics #7 (1938) sold at Heritage Auctions for $143,400, because it’s the second time Superman appeared on a comic book cover. I am surprised that the first edition of Harry Potter and the Philosopher’s Stone sold for $29,875, because it came out in 1997. Is it really that rare?

Harry Potter and the Philosopher’s Stone 1st edition sells for $29,875