• <b>Swann Auction Galleries Feb 4: Printed & Manuscript Americana</b>
    <b>Swann Auction Galleries Feb 4:</b> The Bay Psalm Book, previously unseen 7th edition of the first book printed in North America, Boston, 1693. $30,000 to $40,000.
    <b>Swann Auction Galleries Feb 4:</b><br><i>The Federalist: A Collection of Essays Written in Favour of the New Constitution</i>, first edition, two volumes, New York, 1788.<br>$90,000 to $120,000.
    <b>Swann Auction Galleries Feb 4:</b> Thomas Jefferson, <i>Notes on the State of Virginia</i>, first English edition, London, 1787. $25,000 to $35,000.
    <b>Swann Auction Galleries Feb 4: Printed & Manuscript Americana</b>
    <b>Swann Auction Galleries Feb 4:</b> William Rollinson, <i>Alexander Hamilton, Major General...Secretary<br>of the Treasury</i>, engraving, New York, 1804. $5,000 to $7,500
    <b>Swann Auction Galleries Feb 4:</b> <i>$100,000 Reward!</i>, letterpress broadside, Washington, 20 April 1865. $20,000 to $30,000.
    <b>Swann Auction Galleries Feb 4:</b><br>John André, <i>A Representation of Major John André...going from the Vulture Sloop of War</i>, aquatint, circa 1781. $15,000 to $25,000.
    <b>Swann Auction Galleries Feb 4: Printed & Manuscript Americana</b>
    <b>Swann Auction Galleries Feb 4:</b> Lewis Cresse, Manuscript journal of an early Cape May whaler, 1752-66. $8,000 to $12,000.
    <b>Swann Auction Galleries Feb 4:</b> Letterbook of Boston merchant<br>and Privateer agent Paschal Smith during the Revolution, Boston<br>and elsewhere, 1775-81.<br>$20,000 to $30,000.
    <b>Swann Auction Galleries Feb 4:</b><br>A group of four Autograph Letters Signed to Che Guevara from his father and Alberto & Tomas<br>Granado, 1954-55. $4,000 to $6,000.
  • <b>Bonhams Fine Books and Manuscripts, February 14th, 2016.</b>
    <b>Bonhams Feb 14th:</b> Lot 9. HIERONYMUS. C.340-420. <i>Epistolae. WITH: Lupus de Oliveto. Regula Monachorum ...</i> US$ 20,000-30,000.
    <b>Bonhams Feb 14th:</b> Lot 47. FROST, A.B. 1858-1921. Shooting Pictures. New York: Charles Scribner's Sons.<br>US$ 10,000-15,000.
    <b>Bonhams Feb 14th:</b> Lot 53. PICASSO, PABLO, RAOUL HAUSMANN, et al. ILIAZD, ed. Poesie de mots inconnus. 1949. US$ 8,000-12,000.
    <b>Bonhams Feb 14th:</b> Lot 64. BRIGGS, HENRY. 1561-1630. <i>The North Part of America</i>. [London: 1625]. Engraved by R. Elstracke. US$ 8,000-12,000.
    <b>Bonhams Feb 14th:</b> Lot 79. COPERNICUS, NICOLAUS. De revolutionibus orbium coelestium. 1566. US$ 80,000-120,000.
    <b>Bonhams Feb 14th:</b> Lot 80. DARWIN, CHARLES. On the Origin of Species by Means of Natural Selection, or the Preservation of ... US$ 70,000-90,000.
    <b>Bonhams Feb 14th:</b> Lot 87. NEWTON, ISAAC, SIR. Autograph Manuscript in Latin and English [n.p., early 1670s}. US$ 100,000-150,000
    <b>Bonhams Feb 14th:</b> Lot 93. Dr. Kary Mullis' 1993 Nobel Prize in Chemistry, awarded to him for the invention of the Polymerase Chain Reaction. US$ 450,000-550,000.
    <b>Bonhams Feb 14th:</b> Lot 96.<br>CLEMENS, SAMUEL. Autograph Manuscript, nearly complete chapter 30 of <i>A Tramp Abroad</i>, c.1879.<br>US$ 20,000-30,000.
    <b>Bonhams Feb 14th:</b> Lot 105. GOLF. [MATHISON, THOMAS. d.1754.]<br><i>The Goff</i>. An Heroi-Comical Poem.<br>US$ 40,000-60,000.
    <b>Bonhams Feb 14th:</b> Lot 113. JOYCE, JAMES. 1882-1941. <i>Ulysses</i>. First Edition, Presentation Copy, Signed and Inscribed by Joyce on the half-title. US$ 40,000-60,000.
    <b>Bonhams Feb 14th:</b> Lot 120. LONDON, JACK. Autograph Manuscript of the short story "Flush of Gold". US$ 40,000-60,000.
    <b>Bonhams Feb 14th:</b> Lot 135. STEINBECK, JOHN. Autograph Manuscript of an unpublished short story. US$ 35,000-45,000.
    <b>Bonhams Feb 14th:</b> Lot 149. GERONIMO. BARRETT, S.M., ed. Geronimo's Story of His Life. 1906. US$ 12,000-18,000.
    <b>Bonhams Feb 14th:</b> Lot 165.<br>ENOLA GAY. LEWIS, ROBERT A. An official pilot's log, 1942 to 1946.<br>US$ 50,000-80,000.
  • <b>Old World Auctions (Feb 3-17):</b><br>Lot 14. Blaeu,<i>Nova Totius Terrarum Orbis Geographica ac Hydrographica Tabula</i>, 1635. Est. $14000-$16000
    <b>Old World Auctions (Feb 3-17):</b><br>Lot 305. Arrowsmith, <i>Texas: The Rise, Progress, and Prospects of the Republic of Texas</i>, 1841. Est. $18000-$20000
    <b>Old World Auctions (Feb 3-17):</b><br>Lot 256. Thackara, <i>Plan of the City<br>of Washington in the Territory of Columbia</i>, 1792. Est. $13000-$16000
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 188. Browne/Senex, A New<br>Map of Virginia Mary-land, 1719. <br>Est. $5500-$6500
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 47. Cellarius, <i>Scenographia Systematis Copernicani</i>, 1708.<br>Est. $2400-$3000
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 6. Ortelius, <i>Typus Orbis Terrarum</i>, 1571. Est. $7000-$8500
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 413. De Medina, <i>Mundo Novo,</i> 1554. Est. $7000-$9000
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 37. Jansson, <i>Histoire des Grands Chemins de l'Empire Romain</i>, 1736. Est. $3000-$3750
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 798. Le Rouge, <i>Atlas Nouveau Portatif a l'Usage des Militaires</i>, 1748. Est. $2400-$3000
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 60. Munster, <i>Tabula Novarum Insularum</i>, 1559. Est. $5500-$7000
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 122. Morden, <i>A New Map of the English Empire in America</i>, 1695. <br>Est. $14000-$16000
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 291. J.J. Stoner, Niagara-Falls, <br>N.Y., 1882. Est. $1600-$1900
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 797. Sanson, <i>Die Gantze Erd-Kugel</i> ... Europa, Asia, Africa und America, 1679. Est. $8000-$10000
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 799. Lotter/Lobeck, Atlas Geographicus Portatilis, 1760.<br>Est. $1600-$1900
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 808. Railroad Companies, [<i>Manuscript Railroad Atlas</i>], 1890.<br>Est. $1000-$1500
    <b>Old World Auctions (Feb 3-17):</b> <br>Lot 800. Pinkerton, <i>A Modern Atlas</i>, 1815. Est. $8000-$10000

Rare Book Monthly

Articles - September - 2013 Issue

Selling the Collection - No Easy Answers

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This is a small portion of the holdings of one older collector who finds “letting go is the hardest part.”

This month’s article is the outgrowth of a query to an on-line list-serve populated mainly by book dealers. No long ago the following post was received:


“Suppose for the moment that you are a "civilian" with a large accumulation of books, gathered over many years. Now it's time to dispose of the library. How would you go about doing it? What actions on your part or features of the collection would be most likely to make it salable or attract the attention of knowledgeable dealers?

 

“What should a seller do to dispose of a collection at reasonable prices?

“This is not entirely a rhetorical question,” the writer continued. “A neighbor of mine has spent his career as a professor of philosophy. He is now in his mid-80s. He has hinted that he might want me to give him some advice or help him dispose of his library ‘when the time comes.’ He has never been a real ‘collector’ but has been a prodigious accumulator of books for more than 60 years.

 

“Most of his house is stuffed with books, almost all non-fiction; I would estimate 8,000 - 10,000 volumes. It's heavy on philosophy, mostly ethics and esthetics, only a little epistemology or political philosophy. … He has never attempted to catalog his books -- as he says, ‘I know where everything is.’ All volumes are neatly shelved, and readily accessible. His books range from as-new condition to heavily-used.

“We have no used/rare/antiquarian dealers within 100 miles, except for a Half-Price Books store which is completely unable/unwilling to deal with this volume of books, especially in these categories. What do I tell him? That his books are worthless, or that dealers will offer him pennies (or less) on the dollar for his library? ….


“Although I have couched this inquiry in terms of my neighbor's books (a real case), the same or similar questions will eventually apply to my own collection. I have more volumes, and have focused more on acquiring rare and collectible items, but the same difficulties apply.

 

“There are no nearby dealers. Most of the specialist dealers with whom I have worked over the past half-century are dead, retired or trying to retire.”

 

The writer of this post, turned out to be a 70 year old professor emeritus at a large American university, who asked to remain anonymous. He estimated his own holdings in “Western Americana” from the Coronado Expedition to the 1840s might be 12,000-18,000 volumes. Though he is in good health and people in his family lived to “their 80s or 90s,” he knew the day would come when he’d need to sell.

 

His situation is far more common than might be expected. AE receives similar inquires quite frequently. Almost immediately he made several comments we’ve heard before including:

 

* “Letting it go is the hardest part.”

 

* “Don’t tell my wife how much I spend on books.”

 

* “What I’d really like is a good home, a place that will take good care of it.”

 

Like many who face the prospect of selling he’s torn between conflicting emotions. On one hand, he really doesn’t want to sell at all, on the other he hopes both to recover a good portion of what he’s spent and at the same time place it with “another individual who cares for it as much as I do… someone I could pass it on to ….sooner or later it’s got to pass.”

 

How much is his collection worth? Well that depends. This collector gave an estimate in the low six figures, but whether he will be able to realize that amount, or even a fraction of it, remains to be seen.

 

Probably nobody hears more stories like this one than AE Monthly publisher Bruce McKinney. McKinney is an ardent collector himself who has successfully sold some of his earlier holding. As such, he is frequently asked for his advice. He outlined the usual options: sell it all to a dealer, find an auction house that will take it, put it out on consignment or work with an institution.

 

He then proceeded to give a variety of reasons that all of these possibilities might be less than ideal from the seller’s point of view.

 

Looking at the auction option he observed that many sellers experience what he termed “auction anxiety.” The theory is, he said, “that a book is a book is a book,” and at least hypothetically the same item should bring a similar price if offered in a comparable setting, but, he explained, it seldom works that way. “A book that brings $800 in one auction can bring $2,500 at another.”

 

This kind of variable combined with a long time line and the unknown outcome create a tense situation. And then the auction houses can be very particular and selective. It may be hard to place your material, and the chances of all of it going to one place, in his opinion, were unlikely. He observed that auction houses seldom want the whole collection, only the highlights. It’s often the case that the majority of the value is found in only a handful of items.

 

Turning to institutions he noted that here the time lines and process can take years and that today’s special collections are often reluctant to commit to acquisition and care of materials where there is significant duplication of what they already own. That’s before we even get to a discussion of price.

 

As for dealers, McKinney pointed to an increasing reluctance to buy - i.e. spend their own money and an increasing trend toward consigning because “nobody really knows” where the market for books is going. And though consignment terms are negotiable, often time the seller ends up feeling “he’s been had” and because terms of consignment may not be well defined, the dealer sometimes shares those sentiments.

 

Add to the mix that the seller’s own ideas about the value of his holding is based on what things might have been worth in years past, but is often not realistic in light of the current market.

 

Said McKinney, “They can not bring themselves to believe they’re not going to get those prices today. Today’s price is often going to be lower. They’ve got to adjust their expectations.”

 

One new option he mentioned was a recently formed group called Collectorsfolio. This firm bills itself as a specialist in collection development. It also offers fee-for-service cataloging in digital format.

 

On the sell side it provides brokerage services for high end books - similar to the representation provided by a real estate agent. The present commission schedule quotes rates that in the book trade would be considered quite modest. One reason for that is the dealer has none of his own money tied up in the venture. McKinney sees this combination as “the new model.”

 

Jeremy O’Connor, 39 and Michael DiRuggiero, 41, are co-founders Collectorsfolio. It is an outgrowth of their firm Manhattan Rare Book Company (ABAA) in New York City which has been active in the trade since 1999.

 

According to O’Connor, Collectorsfolio is still in its early stages and came on-line this summer in a beta version. The concept, he said, “is a result of our conversation with our clients and their needs.”

 

On the cataloging side Collectorsfolio works with collectors to help create a digital file that can be converted to on-line use or can be printed. He said that charges to create these documents have so far ranged from a few hundred for inserting professionally taken photos into a Word file up to $5,500 dollars for a more soup-to-nuts approach for a catalog of Modern First Editions. The fee depends on the number of items, whether a basic list already exists, the complexity of the photography and a variety of other factors.

 

Once a digital document is prepared it can be a useful marketing tool for the seller, and give him “more leverage.” If desired Collectorsfolio can also act as a seller’s broker for a flat percentage which O’Connor quoted as “15 percent of items selling for up to $5,000 and 10 percent for books sold above $5,000.”

 

O’Connor thought that “the best owner for a book above $5,000 is a collector, with the dealer to act as agent for the prior owner.” Collectorsfolio always takes possession of the book before the transaction is completed. The difference between a dealer and a collector, he said, is ‘I never met a dealer who loved a book more the longer he had it.”

 

This writer, a dealer’s daughter and a dealer herself for more than 30 years, is only too familiar with the collector’s dilemma.

 

To realize top dollar takes planning, cataloging and usually a time line of several years. It requires realistic expectations and finding the right vehicle - be it auction, dealer, internet, institution or combination of any or all to achieve maximum value.

 

Asked for an opinion, I recommended first selling duplicates, then culling books that were no longer as interesting to the collector as they might have been in the past and selling those next, if only to get used to the idea of “selling.”

 

I also suggested using eBay as a very low cost vehicle to showcase attractive items as bait to find buyers who shared similar interests and had the financial resources to afford them.

 

The worst scenario is to do nothing and let time take its course. When a collector dies, the wives and families are seldom equipped to handle the disposal of the books that have been so lovingly accumulated.

 

Then the collection goes from being a treasured asset to a burden that needs to be liquidated and rapidly. The distress model yields the lowest prices and frequently brings turmoil to the heirs who in most cases know little or nothing about books or how to sell them.

 

----

 

Reach writer Susan Halas at wailukusue@gmail.com

 


Posted On: 2013-09-01 12:18
User Name: knathan

"When a collector dies, the wives and families are seldom equipped...."

Or husbands. I know we're in the minority, but women collect books as well!


Posted On: 2013-09-01 16:34
User Name: blackmud42

When I retired as a history professor, I donated my books to my university's library. As my collection was nothing special, I was pleasantly surprised to receive a charitable donation receipt that gave me a $14,000 tax deduction. I think such donation is an option any collector might well consider. You get a modest financial return, save a lot of bother, and have the satisfaction of knowing your books will be put to good use.


Rare Book Monthly

  • <b>AUCTIONATA Feb 9th.</b> Lot 7. <br>W. Churchill, 'The Second World<br>War,' 6 Vols, 1st Edition, Signed.<br>Starting Bid $1,800.
    <b>AUCTIONATA Feb 9th.</b> Lot 9. <br>Cormac McCarthy, The Border Trilogy, 1st Editions, Signed, 1992-98. <br>Starting Bid $1,600.
    <b>AUCTIONATA Feb 9th.</b> Lot 26. <br>Sabre-Toothed Tiger Skull Cast. <br>Starting Bid $ 700.
    <b>AUCTIONATA Feb 9th.</b> Lot 29. Ariosto, [Opere] Orlando furioso…, 2 Vols, Venice, 1730. Starting Bid $2,000.
    <b>AUCTIONATA Feb 9th.</b> Lot 40. Goya, Complete "Los Caprichos," 5th Ed., Real Academia. Starting Bid $3,400.
    <b>AUCTIONATA Feb 9th.</b> Lot 42.<br>Gustav Klimt, "50 Handzeichnungen," Leipzig, 1922. Starting Bid $1,800.
    <b>AUCTIONATA Feb 9th.</b> Lot 43. Léon Bakst, 42 Tafeln und 6 Abbildungen, Berlin: Wasmuth, 1925. <br>Starting Bid $3,000.
    <b>AUCTIONATA Feb 9th.</b> Lot 62. Portfolio Revue Verve, Vols. I-X, Nos. 1-38, 1937-60. Starting Bid $9,000.
    <b>AUCTIONATA Feb 9th.</b> Lot 73. Ptloemas, Geographiae universae tum veteris, Peter Keschedt, 1597.<br>Starting Bid $280.00.
    <b>AUCTIONATA Feb 9th.</b> Lot 76.<br>G. F. Kunz, "The Book of the Pearl," Inscribed, New York, 1908.<br>Starting price $280.
    <b>AUCTIONATA Feb 9th.</b> Lot 81. NWA 8277 — Lunar Meteorite Slice, Sahara Desert. Starting Bid $1,600.
    <b>AUCTIONATA Feb 9th.</b> Lot 83. Benjamin Franklin; Sewel, The History of the Rise… Quakers, 1728. Starting Bid $2,000.
  • <b>19th Century Shop.</b> LINCOLN, ABRAHAM. <i>A superb collection of manuscripts signed by Lincoln and relics related to Lincoln’s death</i>. Washington, 1864-1865
    <b>19th Century Shop.</b> Rare Relic of the Underground Railroad (1857). <i>$500 Reward Ran away ...</i>
    <b>19th Century Shop.</b> CARTER, SUSANNAH. <i>The Frugal Housewife,</i> (1772) the second American cookbook, plates by Paul Revere.
    <b>19th Century Shop.</b> SCHIRRA, WALTER M.. Icon of the American Space Program. <i>A Complete Set of Schirra’s Flight Log Books (1947-69).</i>
    <b>19th Century Shop.</b> A fine pair of daguerreotypes, one a black nurse holding a white baby, the other the white parents. Maryland, c. 1853.
    <b>19th Century Shop.</b> The Internet. (COMPUTERS.) CERF, VINTON & KAHN, ROBERT. <i>"A Protocol for Packet Network Intercommunication" in IEEE Transactions on Communications.</i>

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