• <b>Swann Auction Galleries Nov 14: 19th & 20th Century Literature</b>
    <b>Swann Auction Galleries Nov 14:</b><br><i>The Centenary Edition of the Works of Ian Fleming</i>, one of 26 lettered sets, 18 volumes, London, 2008. $25,000 to $30,000.
    <b>Swann Auction Galleries Nov 14:</b> William Faulkner, <i>The Marble Faun</i>, first edition, signed & inscribed to Dorothy Wilcox by Faulkner & Phil Stone, Boston, 1924. $18,000 to $25,000.
    <b>Swann Auction Galleries Nov 14:</b> Maurice Sendak, <i>Where the Wild Things Are</i>, first edition, signed & inscribed to William Archibald, New York, 1963. $10,000 to $15,000.
    <b>Swann Auction Galleries Nov 14: 19th & 20th Century Literature</b>
    <b>Swann Auction Galleries Nov 14:</b> Anne Frank, <i>Het Achterhuis</i>, first edition, in first state jacket, Amsterdam, 1947. $12,000 to $18,000.
    <b>Swann Auction Galleries Nov 14:</b> Roald Dahl, <i>Charlie and the Chocolate Factory</i>, first edition, signed, New York, 1964. $6,000 to $9,000.
    <b>Swann Auction Galleries Nov 14:</b><br>Ray Bradbury, <i>Fahrenheit 451</i>, first limited edition bound in Johns-Manville Quinterra, New York, 1953. $7,000 to $10,000.
    <b>Swann Auction Galleries Nov 14: 19th & 20th Century Literature</b>
    <b>Swann Auction Galleries Nov 14:</b> Benjamin Graham, <i>The Intelligent Investor</i>, first edition, in original dust jacket, New York, 1949. $4,500 to $6,000.
    <b>Swann Auction Galleries Nov 14:</b> Anna Sewell, <i>Black Beauty</i>, first edition, inscribed, London, 1877. $7,000 to $10,000.
    <b>Swann Auction Galleries Nov 14:</b> Arthur Conan Doyle, <i>A Study in Scarlet</i>, first American edition, Philadelphia, 1890. $6,000 to $9,000.
    <b>Swann Auction Galleries Nov 14: 19th & 20th Century Literature</b>
    <b>Swann Auction Galleries Nov 14:</b> James Fenimore Cooper, <i>The Last of the Mohicans</i>, first edition, two volumes, Philadelphia, 1826. $5,000 to $7,500.
    <b>Swann Auction Galleries Nov 14:</b> Amelia Earhart, <i>20 hrs. 40 mins. Our Flight in Friendship</i>, limited first edition, signed, New York, 1928. $4,000 to $6,000.
    <b>Swann Auction Galleries Nov 14:</b> Philip K. Dick, <i>World of Chance</i>, first edition, signed, London, 1956. $3,000 to $4,000.
  • <b>Announcing a new Books for Sale platform hosted by Biblio!</b>
    <b>List your books simultaneously on Rare Book Hub and Biblio!</b>
  • <b>Sotheby’s Paris: Books & Manuscripts. 30 October 2017</b>
    <b>Sotheby’s Paris, Oct. 30:</b> MARCEL PROUST. Du côté de chez Swann. Grasset, 1913. First edition. One of 5 copies on Japan paper, inscribed by the author to Louis Brun. Est. €400,000 - 600,000
    <b>Sotheby’s Paris, Oct. 30:</b> Saint-Exupéry. <i>25 Autograph Illustrated Letters to his Friend Charles Sallès</i>. Est. €30,000-50,000
    <b>Sotheby’s Paris, Oct. 30:</b> French Revolution, 1793. Déclaration des droits de l’Homme. 2,55 x 1,30m. A monumental wallpaper poster of the 1793 version, with hand-colored highlights. Unique copy. Est. €100,000 - 150,000
    <b>Sotheby’s Paris, Oct. 30:</b> GIAMBATTISTA PIRANESI. <i>Vedute di Roma</i>, 1748-1775. 107 etchings. An exceptional copy, printed and bound before 1780. Est. €50,000 - 80,000
    <b>Sotheby’s Paris, Oct. 30:</b> Picasso, Pablo -- Fernando de Rojas. LA CÉLESTINE. [PARIS, EDITIONS DE L'ATELIER CROMMELYNCK, 1971.] One of the 30 copies hors commerce (n° X). 66 original etchings by Picasso. Signed. Est. €30,000 - €35,000
  • <b>Results from Bonhams’ sale of <i>Fine Books & Manuscripts Featuring Exploration and Travel</i></b>
    <b>Bonhams, Sep. 26:</b> Columbus. De Insulis nuper in mari Indico repertis. Basel, 1494. SOLD for $751,500
    <b>Bonhams, Sep. 26:</b> Cook in Tahiti. [Playbill]. [Germany, c.1840.] SOLD for $6,250
    <b>Bonhams, Sep. 26:</b> Aa, Pieter van der. Naaukeurige versameling der gedenk-waardigste zee en land-reysen. Leyden, 1706-8. SOLD for $35,000
    <b>Bonhams, Sep. 26:</b> Dürer. Underweysung der messung [and two more]. Nuremberg, 1525-8. SOLD for $175,000
    <b>Bonhams, Sep. 26:</b> Cortes, Hernan. A Pleito signed by Antonio de Mendoza in the case of Hernan Cortes. 1542. SOLD for $8750
    <b>Results from Bonhams’ <i>The Air and Space Sale</i></b>
    <b>Bonhams, Sep. 27:</b> Russian Kholod 5D67 HFL Rocket Engine. SOLD for $25,000
    <b>Bonhams, Sep. 27:</b> Neil Armstrong Apollo Era Training Glove. SOLD for $50,000
    <b>Bonhams, Sep. 27:</b> Full Scale Sputnik-1 EMC/EMI Lab Model. SOLD for $847,500
    <b>Bonhams, Sep. 27:</b> SOLRAD GREB Spy Satellite Engineering Dummy. SOLD for $10,000
    <b>Bonhams, Sep. 27:</b> Soviet LK-3 Lunar Lander Model. SOLD for $25,000

Rare Book Monthly

Articles - June - 2014 Issue

The Facts on the Ground

26d302ef-80a4-4adc-9778-fcbbb1b500ad

After over 250 years in business, Sotheran's has learned to adapt to change (from their website).

This is  the second of three articles on changes in the field.  Dealers adapt.  They are canny and need to be.

 

The book business is not going away but neither is it going to remain the same.  Virtually all things that can change do.  Elsewhere in this issue of AEM there’s a piece on a San Francisco Public Library’s Friends of the Library program that is converting discarded material into the two fuels that power libraries, a sense of purpose and money to support San Francisco’s Public library system.  Their project is the remarkable conversion of what, just a decade or so ago, looked like a local failing used book field – now experiencing a fresh incarnation.  Such stories will probably never be common but neither will they be rare.  Changing circumstances encourage innovation.

 

For rare book dealers the challenges are different but equally compelling because, as in all things, their only constant is change and they are living in a seismic era.  For San Francisco Public the catalyst has been price.  What once cost something often now costs next to nothing.  For dealers their seismic changes are availability and transparency, their determining factors rarity and relevance in an electronic world too often reduced to electronic contact.  Those dealers who long preferred to make their cases in person no longer have so many opportunities.  By some estimates 70 to 90% of all bookshops have closed over the past 30 years.  Human contact, it turns out, is possibly the Internet’s greatest casualty.  Today’s new normal places the written description-story-telling capability second only to the Svengali-esk capacity to find great material.  We know from the SFPL experience that there are lots of books out there.  They are handling 1 million volumes every 74 weeks.  Successful dealers handle perhaps a thousand a year, selling to collectors and institutions that rely on them for expert advice.  There is the great mass of material and then there are the gems.

 

Many booksellers years ago sensed that the internet would in time shift the setting of prices from the hands of the sellers to the “show of hands” of buyers.  Rarity is a much over-used term and the stacking up of unsold copies over the past ten years conclusively shown that this word and its meaning has been so misused as to be almost irrelevant.  Rarity now requires a third party reference.

 

However dealers do it, to succeed they have had to shift their focus to the highly uncommon where the defining issues are relevance and importance.  This trend has helped dealers with the intellectual chops to explain their material while forcing the sellers of the more common material into the “let’s make a deal" environment that listing sites have drifted into.

 

In this changing environment the periodic re-authentication of price in the auction rooms has loomed large in importance because prices on the listing sites have proven surprisingly inflexible.  The theory has been [1] "if I cut my price others will cut theirs and I will then gain nothing,” and [2] “the market always recovers so I will get my price.  I just don’t know when.”

 

These attitudes, now widely known, are encouraging buyers to look more closely at auctions because they reflect changing valuation, sometimes lower prices, and in any event “market certification.”  If an item purchased at auction is later sold its earlier auction authentication becomes very important for it provides a pricing history that fresh buyers often take into account.

 

For dealers fresh and special have long been important attributes of what they invest their money and time in.  Those who have made this transition can expect to continue to do well.  Those who have become bogged down with rank and file copies of the too frequently copious examples may find themselves having to send an increasing percentage of their stock to 438 Treat Street or other similar triage centers.

 

The old rules simply don’t work anymore.

 

The final article in this series considers the role of auctions today. Click here to continue.


Posted On: 2014-06-02 10:05
User Name: tenpound

Bruce:
An article about "dealers" that encourages "buyers to look more closely at auctions" reveals AE's anti-dealer, pro-auction bias. Despite your excellent work compiling the AE database - one of the most useful tools to arrive on the scene in recent years - you are clearly not a friend to the trade.
Greg Gibson
Ten Pound Island Book Co.


Posted On: 2014-06-03 19:21
User Name: Fattrad1

Bruce,

I have to challenge your growth rate projections for auctions, I believe you are interpolating. That is using past statistics and drawing lines into the future, Wall St. is often guilty of this.

Having just completed one year of business with an open used bookstore, I am projecting a stabilization of prices for scarce works, the type of inventory that most dealers thrive on. We have been rather disappointed with the two auction houses we have bought/sold from, poor description of condition for purchases and a complete failure with a sale attempt on a RARE book.


Posted On: 2014-06-07 21:45
User Name: AE244154

Dear Greg,

I am committed to dealers. They are the lifeblood of the market but they too are living through the transformation that is changing collectors and libraries’ approaches to their collections. The increasingly unified market simply re-values and re-prioritizes material in ways no one could have predicted ten years ago.

Dealers have had opportunities to adjust and many have adjusted because the world in which they built their businesses is no longer the world we live in. And other formulas, that once worked better, now work less well.

I believe we know the issue is not whether there are enough collectors. Auctions are selling more lots each year while maintaining a consistent sell-through percentage.

In an article in the July issue of AE Monthly I’ll examine both the current state of the dealer trade and options for the future.

There’s a future. It just isn’t the one most expected.

Bruce
Bruce McKinney
AE


Rare Book Monthly

  • <b>Sotheby’s London: Fine Autograph Letters and Manuscripts from a Distinguished Private Collection. Part I: Music. 26 October 2017</b>
    <b>Sotheby’s London Oct 26:</b> Beethoven, Ludwig van. Autograph Manuscript of the Canon "Ewig Dein" Woo 161, signed at the end ("...[Ewig] Dein...Freund Ludwig Van Beethowen"). Est. £120,000 to £150,000
    <b>Sotheby’s London Oct 26:</b> Brahms, Johannes. Autograph Manuscript of the "Geistliches Wiegenlied", Op.91 No.2, for Contralto, Viola And Piano, the original version of 1864, signed and inscribed at the end by the composer. Est. £200,000 to £250,000
    <b>Sotheby’s London Oct 26:</b> Chopin, Frédéric. Autograph Manuscript of the Opening of the Étude Op.25 No.2, in A-Flat Major, signed and dated ("Paris Ce 28 Avril F. Chopin"). Est. £100,000 to £150,000
    <b>Sotheby’s London: Fine Autograph Letters and Manuscripts from a Distinguished Private Collection. Part I: Music. 26 October 2017</b>
    <b>Sotheby’s London Oct 26:</b> Haydn, Joseph. Autograph Letter Signed ("Jos Haydn[Paraph]"), to the Baden Choirmaster Anton Stoll, 30 July 1802. Est. £20,000 to £30,000
    <b>Sotheby’s London Oct 26:</b> Verdi, Giuseppe. Autograph Working Manuscript of a scene from Ernani. Est. £100,000 to £150,000
    <b>Sotheby’s London Oct 26:</b> Verdi, Giuseppe. Highly Important Series of Thirty-Six Autograph Letters Signed to The Librettist Salvadore Cammarano, written between 1844 And 1851, the greater part unpublished and unrecorded. Est. £250,000 to £300,000
  • <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>Sotheby’s New York: The Magnificent Botanical Library of D. F. Allen. October 26, 2017</b>
    <b>Sotheby’s NY, Oct. 26:</b> Redouté, Pierre Joseph, and Claude Antoine Thory. <i>Les Roses</I>. Paris: Firmin Didot, 1817–1824. Est. $225,000 to $325,000
    <b>Sotheby’s NY, Oct. 26:</b> Trew, Jakob Christoph. <i>Hortus Nitidissimis Omnen Per Annum Superbiens Floribus</i>… Nuremberg: Johann Joseph Fleischmann, 1750 [–1786]. Est. $200,000 to $300,000
    <b>Sotheby’s NY, Oct. 26:</b> Trew, Christoph Jakob, and Benedict Christian Vogel. <i>Plantæ Selectæ</i>…[Nuremberg:] 1750–1773; Supplement, [Augsburg:] 1790 [–1792]. Est. $200,000 to $300,000
    <b>Sotheby’s New York: The Magnificent Botanical Library of D. F. Allen. October 26, 2017</b>
    <b>Sotheby’s NY, Oct. 26:</b> Jacquin, Nikolaus Joseph von. <i>Plantarum Rariorum Horti Caesarei Schönbrunnensis Descriptiones Et Icones.</i>Vienna; London; Leiden, 1797–1804. Est. $180,000 to $250,000
    <b>Sotheby’s NY, Oct. 26:</b> Weinmann, Johann Wilhelm. <i>Phytanthoza Iconographia; Sive Conspectus Aliquot Millium, Tam Indigenarum Quam Exoticarum</i>… Regensburg, 1735–1737–1745. Est. $120,000 to $180,000

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