After a bidding war between two buyers the book sold for 150,000 pounds, a new record for a printed book by Rowling, BBC News reported.
The largest amount paid for a JK Rowling book was the 2 million pounds fetched in 2007 by a handwritten copy of Tales of Beedle the Bard.
"The sale room fell silent as two determined bidders vied for the prized edition," said a spokesperson for Sotheby's here.
Rowling's personal annotations in the first edition of Harry Potter and the Philosopher's Stone cover 43 pages and include references to the Harry Potter series as a whole and also the film adaptations.
Her notes include a reflection on an anomaly in chapter four about snapped wands and a section of text she refused to cut.
Rowling also talks about the genesis of the fictional game of Quidditch.
Quidditch, she writes "was invented in a small hotel in Manchester after a row with my then boyfriend.
The broomstick-based pursuit, she continues, "infuriates men which is quite satisfying given my state of mind when I invented it."
Rowling's 22 original illustrations include drawings of an Albus Dumbledore chocolate frog card, a brooding Snape, Norbert the Norwegian Ridgeback dragon and a man with two faces.
The book was part of a sale of annotated first edition books by 50 UK and Commonwealth writers. The sale raised a total of 4,39,200 pounds for English PEN.
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