When it comes to collecting Sense and Sensibility, there are a lot of factors to keep in mind. There are multiple 'first editions' -- the first time it was ever published, the first time it was published as one or two volumes in place of the original three, the first time it was published under Jane Austen's name in place of the original's "A Lady", and the first time it was published in the United States.
As one might expect, the most highly sought of these is the very first printing, which was published in 1811 in London by the Military Library publishing house. This original printing was published anonymously, credited to "A Lady", and in three separate volumes. Because Sense and Sensibility (and all of her other novels published during her lifetime) was published anonymously, there are no signed copies. There were less than a thousand of these initially published, and substantially fewer surviving to today. This, combined with the age of the first editions, make them very valuable, with a recent auction fetching $32,500 for a set of the three.
Other printings of Sense and Sensibility that are highly collectible are the second printing, also in three volumes released in 1813, and the 1833 British printing, which was issued in two volumes. The first American printing of Sense and Sensibility was also released in 1833 as two volumes credited to "Miss Austen". Any of these printings can sell for $10,000 or more depending upon condition.
Austen, Jane. Sense and Sensibility. T. Egerton: London (1813). 3 volumes
Austen, Jane. Sense and Sensibility. Richard Bentley: London (1833). Third Edition
Austen, Jane. Sense and Sensibility. Carey and Lea: Philadelphia, PA (1833). 2 volumes; First U.S. Edition
Austen, Jane. Sense and Sensibility. George Routledge and Sons: London (1891). Ruby Series Edition
Austen, Jane. Sense And Sensibility. J M Dent: London (1892). 2 volumes; Edited by Reginald Brimley Johnson
Austen, Jane. Sense and Sensibility. MacMillan and Co: London (1896). Illustrated by Hugh Thomson; Introduction by Austin Dobson
Austen, Jane. Sense and Sensibility. George Allen: London (1899). Introduction by Joseph Jacobs; Illustrated by Chris Hammond
Austen, Jane. Sense and Sensibility. MacMillan and Co: London (1900). Illustrated by Hugh Thomson; Introduction by Austin Dobson
Austen, Jane. Sense and Sensibility. J M Dent: London (1901). Third Edition; 2 volumes; Edited by Reginald Brimley Johnson
Austen, Jane. The Novels. MacMillan and Co: London (1904). 5 volumes; Illustrated by Charles E. Brock and Hugh Thomson; Novels include-Sense and Sensiblity, Pride and Prejudice, Mansfield Park, Emma, Northanger Abbey, and Persuasion
Austen, Jane. The Novels. John Grant: Edinburgh (1905). Winchester Edition; 10 volumes; Novels include-Sense and Sensiblity, Pride and Prejudice, Mansfield Park, Emma, Northanger Abbey, and Persuasion
Austen, Jane. Sense and Sensibility. J M Dent: London (1908). Illustrated by Charles E. Brock
Austen, Jane. The Works. W. Heffer and Sons Ltd (1924). Adelphi Edition; 7 volumes; Novels include-Sense and Sensiblity, Pride and Prejudice, Mansfield Park, Emma, Northanger Abbey, and Persuasion
Austen, Jane. Sense And Sensibility. Oxford: UK (1926). 2nd Edition of the Oxford Chapman Edition
Austen, Jane. The Works of Jane Austen. Eveleigh, Nash, and Grayson: London (1927). Georgian Edition; 5 volumes; Novels include-Sense and Sensiblity, Pride and Prejudice, Mansfield Park, Emma, Northanger Abbey, and Persuasion
Austen, Jane. Sense and Sensibility. Macmillan: UK (1932). Illustrated by Hugh Thomson; Introduction by Austin Dobson
Austen, Jane. Sense and Sensibility. Clarendon Press: Oxford (1946). Third Edition; 5 volumes
Austen, Jane. Pride and Prejudice and Sense and Sensibility by Jane Austen. Modern Library: New York (1949). First Modern Library Edition
Austen, Jane. Sense and Sensibility. Collins: London (1953). Other author-A.C. Ward
Austen, Jane. Sense and Sensibility. Spiral Press: New York (1957). 1500 copies; Introduction by Stella Gibbons; Illustrated by Helen Sewell
Austen, Jane. Sense and Sensibility. Folio Society: London (1958). Introduction by Richard Church
Austen, Jane. Novels of Jane Austen. Easton Press, Norwalk: CT (1996). 6 volumes; Illustrated by C.E. Brock and H.M. Brock; Novels include-Pride and Prejudice, Sense and Sensibility, Persuasion, Emma, Mansfield Park, and Northanger Abbey
Austen, Jane. Jane Austen's Collected Works. Folio Society: London (1997). 7 volumes; Introduction by Richard Church; Illustrated by Joan Hassall; Novels include-Pride and Prejudice, Sense and Sensibility, Persuasion, Emma, Mansfield Park, and Northanger Abbey