Rare Book Monthly

Articles - January - 2013 Issue

A 540,000% Return on a Flea Market Find

Brucke

It didn't look like a $35,000 item at the flea market.

Amazing finds can still be made at yard sales and flea markets. Professional sellers with a trained eye tend to scour these venues more today than used to be the case, and the amateur may have a more difficult time stumbling across the hidden treasure. Nevertheless, it still happens, as a story out of Germany attests. A flea market buyer recently turned a purchase into a 540,000 percent return. Try getting that on a CD these days.

An unnamed individual, likely a German attending a German flea market, came across an old book. It was actually a catalogue for an art exhibition in Berlin in 1912. The individual was probably not a total amateur as he recognized it might be of some value, but clearly had no idea just how much. Based on what was described as “a gut feeling,” he put his €5 (euros, or approximately $6.50) on the table and took a gamble. He hit the jackpot.

The exhibition catalogue simply had the title Brücke on the cover. It was a traveling exhibition that appeared in Berlin and Hamburg. The exhibitors were what is known as the “Brücke artists” (Bridge artists). They were members of what is called the German Expressionist movement in art. I will not embarrass myself by trying to describe the nature of German Expressionism. To be honest, I'm not as up on German Expressionism as I ought to be.

The flea market collector was correct. This is a very valuable catalogue. However, it is even more valuable than he could have imagined, even if he was completely familiar with the Brücke exhibition. It turns out that among the original exhibitors was Max Pechstein. He was the only one of the group with formal art training. His art would go on to gather major recognition in Germany. However, after the Nazis took over, his works were labeled decadent. They were removed from German museums, and several were put on display by the Nazis in a 1937 exhibition of “degenerate art.” Pechstein, who was fired from his professorship at the Berlin Academy by the Nazis in 1933, essentially went underground, hiding out in the countryside during the war. He was reinstated to his position in 1945.

The original Berlin catalogue included two woodcuts by Pechstein, which apparently have not been published elsewhere. However, there was a dispute over Pechstein's participation in the exhibition. He had exhibited elsewhere, which upset some of the other artists. He was booted out. The result is that this extremely rare Berlin catalogue is the only one with the Pechstein woodcuts. It makes this edition particularly valuable.

The lucky buyer brought his catalogue to the German auction house Ketterer Kunst. It was put up for sale on November 20. When the hammer came down, the high bid, all in, was €27,000 ($35,000). Not bad for a €5 investment. Yes, there are still killings to be made out there, with a sharp eye and a lot of luck. We hope Santa was as good to you this year.

Rare Book Monthly

  • <b>Swann Auction Galleries Aug 3: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 3:</b><br>Henri de Toulouse-Lautrec,<br><i>The Chap Book</i>, 1896.<br>$20,000 to $30,000.
    <b>Swann Auction Galleries Aug 3:</b><br>Henri de Toulouse-Lautrec,<br><i>Troupe de Mlle Églantine</i>, 1896.<br>$20,000 to $30,000.
    <b>Swann Auction Galleries Aug 3:</b><br>Philippe Henri Noyer, <br><i>Limonade Brault</i>, 1938. <br>$4,000 to $6,000.
    <b>Swann Auction Galleries Aug 3:</b> <br><i>The Great Men of the World</i>,<br>designer unknown, circa 1945-46. <br>$7,000 to $10,000.
    <b>Swann Auction Galleries Aug 3: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 3:</b><br>James Montgomery Flagg,<br><i>Wake Up, America!</i>, 1917.<br>$4,000 to $6,000.
    <b>Swann Auction Galleries Aug 3:</b><br>Alfred F. Burke, <i>Share / Jewish <br>Relief Campaign</i>, circa 1915.<br>$3,000 to $4,000.
    <b>Swann Auction Galleries Aug 3:</b><br>Ludwig Hohlwein, <i>Marke Pkz / <br>Burger - Kehl & Co.</i>, circa 1911. <br>$8,000 to $12,000.
    <b>Swann Auction Galleries Aug 3:</b> <br>Gian Emilio Malerba,<i> E.A. Mele / Modo e Novita per Signora</i>, circa 1900. $7,000 to $10,000.
  • <b>19th Century Shop.</b> KEY, FRANCIS SCOTT. <i>A Celebrated Patriotic Song, the Star Spangled Banner.</i> 1814.
    <b>19th Century Shop.</b> [COLUMBUS, CHRISTOPHER, Amerigo Vespucci ..] Bernardus Albingaunensis .. Dialogo nuperrime edito Genue in 1512.
    <b>19th Century Shop.</b> SHAKESPEARE, WILLIAM. <i>Comedies, Histories, and Tragedies. Published according to the true originall copies,</i> 1632.
    <b>19th Century Shop.</b> (WATKINS, TABER &c.). <i>An album of 32 photographs of the Yosemite and American West Various places</i>, c. 1890s
    <b>19th Century Shop.</b> (BATTLE OF CONCORD.) <i>Powder horn used by Minuteman Oliver Buttrick at the Battle of Concord</i>, April 19, 1775.
    <b>19th Century Shop.</b> (CIVIL WAR.) <i>An Extraordinary Confederate Photograph and Autograph Album of Dr. R. L. C. White</i>, 125 original mounted salt prints. 1859-61.
  • 20 Jul 2016, starts at 1pm EDT, NY
    <b>Bonhams Jul 20: </b> Full scale vintage <i>Sputnik-1</i> EMC/EMI Lab Model, with live transmitter. US$ 10,000-15,000
    <b>Bonhams Jul 20: </b> Flown SOYUZ-3 space navigation indicator with unflown on-ground transformer. <br>US$ 30,000-40,000
    <b>Bonhams Jul 20: </b> Flown on SOYUZ 9<br>An exhaustive manuscript on life in space. [Trans: On-Board Flight Journal for Spacecraft Soyuz-9, 1970]. US$ 6,000-9,000
    <b>Bonhams Jul 20: </b> SOYUZ 18? Flown Navigation Celestial Globe. Soyuz 18 lasted from May 24-July 26, 1975. US$ 30,000-40,000
    20 Jul 2016, starts at 1pm EDT, NY
    <b>Bonhams Jul 20: </b> Flown Space Suit from ISS Expidition 6. Worn by Flight Engineer Don Pettit on his dramitic return to earth. US$ 25,000-35,000
    <b>Bonhams Jul 20: </b> Original Gemini 133P Trainer Assembly Five Part Electrical System & Attitude Maneuver ... US$ 60,000-90,000
    <b>Bonhams Jul 20: </b> Lunar Rover Development. Collection of 11 vintage gelatin silver prints and 4 vintage NASA lithographs. <br>US$ 2,000-3,000.
    <b>Bonhams Jul 20: </b> Lunar Orbiter I. The first image of the earth as seen from the moon. Gelatin silver print. August 23, 1966. US$ 2,500-3,500
    20 Jul 2016, starts at 1pm EDT, NY
    <b>Bonhams Jul 20: </b> Michael Collins' Flown Crew-Signed Apollo 11 Emblem. One of the very few Armstrong signed mission artifacts. US$ 50,000-70,000
    <b>Bonhams Jul 20: </b> Flown Apollo 11 Navigational Chart. Taken to Lunar surface mapping the start of the <br>first manned lunar descent. <br>US$ 25,000-35,000
    <b>Bonhams Jul 20: </b> FFlown Apollo 11 Flight Plan Sheetmission Day One. Some of the first words and data values written by Neil Armstrong. US$ 18,000-25,000
    <b>Bonhams Jul 20: </b> Apollo 12 - Alan Bean in the Ocean of Storms. Signed and inscribed by Bean. <br>US$ 2,000-3,000
  • <b>Seth Kaller:</b> Leaves from<br>George Washington's Own Draft <br>of His first Inaugural Address. An Extraordinary Rarity!
    <b>Seth Kaller:</b> Declaration of Independence: Benjamin Tyler 1818 - First Print with Facsimile Signatures.
    <b>Seth Kaller:</b> Thomas Jefferson Signed Act of Contress Authorizing Alexander Hamilton to Complete Famous Portland Maine Lighthouse.
    <b>Seth Kaller:</b> Emanuel Leutze. Silk Flag Banner designed by Leutze, created by Tiffany & Co., and presented to Gen. John A. Dix, 1864.
    <b>Seth Kaller:</b> The "greatest of early American maps … a masterpiece" (Corcoran). Thomas Holme.
    <b>Seth Kaller:</b> Lincoln Summons His Cabinet for a Historic Meeting to Discuss Compensated Emancipation.
    <b>Seth Kaller:</b> Albert Einstein. Autograph Letter Signed. Einstein Counsels His Son ... Meaning of Life.
    <b>Seth Kaller:</b> Normal Rockwell. Painting/Drawing Signed. Rockwell's "Barbeshop Quartet", 1936.
    <b>Seth Kaller:</b> Frederick Douglass. Autograph Letter Signed to unknown correspondent. Washington, D.C.
    <b>Seth Kaller:</b> Harry Truman. Autograph Manuscript Notebook for Kansas City Law School Night Class.
    <b>Seth Kaller:</b> Robert E. Lee. Autograph Letter Signed, June 11, 1782. Hours after the Battle of Culpeper Court House, Lee Escapes Again.
    <b>Seth Kaller:</b> George Washington. Letter Signed, as Commander-in-Chief, Continental Army, to Elias Dayton, Headquarters, [Newburgh, N.Y.], June 11, 1782.

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