He collects the Qing-dynasty first edition of Dream of the Red Chamber.
Tips
mistakes
Don't confuse with 出版 (chūbǎn) 'to publish' — they sound the same but are written differently. 初 'first / initial' vs 出 'to come out / to issue'. 这本书的初版 'this book's first edition'; 出版社 'publishing house'.
usage
Antonyms / contrasts: 再版 (zàibǎn) 'reprint / new edition', 修订版 (xiūdìngbǎn) 'revised edition', 终版 (zhōngbǎn) 'final edition'. 初版 is prized in book-collecting (藏书) for the same reason 'first editions' are prized in English.