The hardback 1997 British edition of Harry Potter and the Philosopher's Stone, with a colour illustration on the cover, was described by Heritage Auctions as "magical, incredibly bright and so very near pristine."
The book was published in the United States as Harry Potter and the Sorcerer's Stone.
The Dallas-based auction house said only 500 copies with the specific binding were printed. The final price was more than six times the pre-sale estimate of $70,000.
Previous auction prices for Harry Potter first editions have ranged from about $110,000 to $138,000.