Rare Book Monthly

Articles - July - 2011 Issue

A Book Still Worth Reading:  Anatomy of an Auction

Anatomy

A book well worth reading

The rare book business is the art of identifying attractive material, stocking it and then connecting with those who have the desire and resources to acquire it.  The business takes many forms, an alchemy of shops and locations, catalogues and connections.  However the business is structured all dealers share the need to efficiently acquire stock.  For collectors and institutions the challenges are different.  Theirs are to conceptualize a concentration and identify reliable sources from which to acquire.  Setting between them are auctions that provide fleeting opportunities to acquire desirable material, often at attractive prices.  Dealers, with years of experience, understand the ephemeral availability of material at auction, monitor sales closely and buy a majority of the lots offered.  Collectors, at least at the outset of their collecting careers, are less likely to buy at them.  The relationship between dealers, collectors and the auctions is therefore ever changing.  Dealers, for their part, often exaggerate the risks of buying at auction while auction houses tend to minimize such concerns.  The truth lies somewhere in between.  Some institutions and collectors become auction buyers but the majority does not.  Sorting all this out adds drama to the quest for books.  Doing it correctly adds value and or reduces wasteful spending.  At every stage information and experience are crucial.  Dealers have historically gained theirs via apprenticeship, as collectors, networking and through the use of extensive resources.  Old-time dealers frequently had hundreds, even thousands of reference materials.   Collectors for the most part have relied on dealers for perspective, institutions a combination of resources and advice.  As the following account suggests you can never know enough.

I recently read a fascinating book, Anatomy of an Auction, written by Arthur Freeman and Janet Ing Freeman.  It’s hardly a new book but neither is it an old story.  The Book Collector published it in 1990.  It is the account of an important auction, the dispersal of the property and contents of Ruxley Lodge in Claygate, near Esher, in Surrey England by estate auctioneers and valuers, Castiglione & Scott.  Included in the eight-day event were three days of book sales that were understood by the book trade to include exceptional material of immense value but that was not fully understood by the auctioneers.  This knowledge on the one side and naivety on the other would set the stage for such a blatant abuse of the consignor that eight years later dealer “ringing” would be made a criminal act.   At the time such rings were legal.  This book is as it says, an anatomy of an auction, this auction.

Rare Book Monthly

  • <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
  • <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop:</b> Exodus 10:10 to 16:15. Complete Biblical scroll sheet in Hebrew, a Torah scroll panel. Middle East, ca. 10th or 11th century.
    <b>19th Century Shop:</b> Copernicus Refuted. (Astronomy.). Scientific manuscript of a course of studies at Collège de la Trinité, Lyon. 1660s.
    <b>19th Century Shop:</b> Israel’s War of Independence and the Early Days of the IDF. 58 photographs presented to Israel Ber, IDF officer and later convicted spy.
    <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop:</b> Early Unpublished Darwin letter on the races of man. Autograph Letter Signed [to Henry Denny]. Down, Kent, June 1, [1844].
    <b>19th Century Shop:</b> Classic Image of American Slavery. Kimball, M. H. <i>Emancipated Slaves</i>. New York: George Hanks, 1863.
    <b>19th Century Shop:</b> (Underground Railroad.) Scaggs, Isaac. Important Runaway Slave Poster: $500 Reward Ran away, or decoyed from the subscriber…
  • <b>Swann Auction Galleries Aug 2: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 2:</b> <i>Keep Calm and Carry On</i>, designer unknown, 1939. $12,000 to $18,000.
    <b>Swann Auction Galleries Aug 2:</b> Théophile-Alexandre Steinlen, <i>Le Journal / La Traite des Blanches</i>, 1899. $3,000 to $4,000.
    <b>Swann Auction Galleries Aug 2:</b> <i>"Let Us Go Forward Together,"</i> designer unknown, 1940. $2,000 to $3,000.
    <b>Swann Auction Galleries Aug 2: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 2:</b> Henri de Toulouse-Lautrec, <i>Babylone d'Allemagne</i>, 1894. $20,000 to $30,000.
    <b>Swann Auction Galleries Aug 2:</b> Frank Beatty, <i>Out of the Running</i>, 1929. $2,000 to $3,000.
    <b>Swann Auction Galleries Aug 2:</b> James Montgomery Flagg, <i>Wake Up America Day</i>, 1917. $4,000 to $6,000.
    <b>Swann Auction Galleries Aug 2: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 2:</b> <i>Danté / Sim • Sala • Bim!</i>, designer unknown. $12,000 to $18,000.
    <b>Swann Auction Galleries Aug 2:</b> Alphonse Mucha, <i>[Zodiac]</i>, 1900. $12,000 to $18,000.
    <b>Swann Auction Galleries Aug 2:</b> Rick Griffin, <i>Jimi Hendrix Experience / John Mayall</i>, 1968. $8,000 to $12,000.
    <b>Swann Auction Galleries Aug 2: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 2:</b> Abram Games, <i>Join the ATS</i>, 1941. $3,000 to $4,000.
    <b>Swann Auction Galleries Aug 2:</b> Aldo Mazza, <i>Torino / Esposizione Internazionale</i>, 1911. $3,000 to $4,000.
    <b>Swann Auction Galleries Aug 2:</b> Robert Motherwell, <i>Julliard School / Dedication - Lincoln Center</i>, 1969. $3,000 to $4,000
  • <b>Bonhams, inviting consignments for Sep 27:</b> Newton. <i>Philosophiae naturalis principia mathematica</i>. London, 1687.
    <b>Bonhams, inviting consignments for Sep 27:</b> Josephus. <i>De antiquitate Judaica.</i> Lubeck, 1475-76.
    <b>Bonhams, inviting consignments for Sep 27:</b> Carlerius. <i>Sporta fragmentorum, Sportula fragmentorum</i>. Brussels, 1478-79.
    <b>Bonhams, inviting consignments for Sep 27:</b> Fridolin. <i>Der Schatzbehalter</i>. Nuremberg, 1491.
    <b>Bonhams, inviting consignments for Sep 27:</b> Pinder. <i>Der beschlossen gart des rosenkrantz marie</i>. Nuremberg, 1505.
    <b>Bonhams, inviting consignments for Sep 27:</b> Isidorus Hispalensis. <i>Synonyma de Homine</i>. Nuremberg, 1470-71.
    <b>Bonhams, inviting consignments for Sep 27:</b> Durer. Sammelband including <i>Underweysung der messing</i>. Nuremberg, 1525-29.
  • <b>Booth & Williams: NO RESERVE Rare Book Auction, now through July 23, 7:15PM EDT</b>
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> John Muir. <i>My First Summer in the Sierra</i>, Boston, 1911.
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> Ernest Hemingway. <i>For Whom the Bell Tolls</i>, New York, 1940. First edition later printing.
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> Upton Sinclair. <i>The Jungle</i>, New York, 1906. First edition.
    <b>Booth & Williams: NO RESERVE Rare Book Auction, now through July 23, 7:15PM EDT</b>
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> George Orwell. <i>Nineteen Eighty-Four</i>, 1949. First American edition.
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> Harper Lee. <i>To Kill a Mocking Bird</i>, 1960. Early printing.
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> Richard Wright. <i>Native Son</i>, New York, 1940. First edition.
    <b>Booth & Williams: NO RESERVE Rare Book Auction, now through July 23, 7:15PM EDT</b>
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> Dryden, Congreve, and others. <i>Ovid’s Art of Love</i>, London, 1764. English translation of Ovid’s work.
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> S. E. Hinton. <i>The Outsiders</i>, New York, 1967. First edition.
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> J. D. Salinger. <i>The Catcher in the Rye</i>, Boston, 1951. Book club edition.
    <b>Booth & Williams: NO RESERVE Rare Book Auction, now through July 23, 7:15PM EDT</b>
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> Ayn Rand. <i>Atlas Shrugged</i>, New York, 1957. Early printing.
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> J. D. Salinger. <i>Raise High The Roof Beam, Carpenters</i> and <i>Seymour: An Introduction</i>, Boston, 1963. First [book] edition, third state.
    <b>Booth & Williams No Reserve Sale until Jul 23:</b> Tennessee Williams. <i>Sweet Bird of Youth</i>, 1959. First edition.

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