• <b>Cowan’s Auctions: Fine Books, Including the Alan Culpin WWI Art Collection – Live Online Auction. Dec. 18, 2017</b>
    <b>Cowan’s, Dec. 18:</b> Unique Association Copy of Signed Limited Roosevelt, African Game Trails, Extra-Illustrated. $5,000 - 7,500
    <b>Cowan’s, Dec. 18:</b> 24 Volumes Henry James in 1/2 Morocco - Alvin Langdon Coburn Frontis Illustrations. $3,000 - $5,000
    <b>Cowan’s, Dec. 18:</b> French Surrealism by Claude Cahun and Marcel Moore, 1930 Limited Edition in Lovely Condition. $3,000 - $5,000
    <b>Cowan’s Auctions: Fine Books, Including the Alan Culpin WWI Art Collection – Live Online Auction. Dec. 18, 2017</b>
    <b>Cowan’s, Dec. 18:</b> Unique and Beautifully Written Manuscript of 650 Quarto Pages - Unpublished History of Belle-Isle-En-Mer, 1754. $3,000 - $5,000
    <b>Cowan’s, Dec. 18:</b> William Beebe's Classic 4 Volume Work on "The Pheasants," Signed and Inscribed in 1919. $2,000 - $3,000
    <b>Cowan’s, Dec. 18:</b> Three Volumes of Washington's War Era Letters Published in New York in 1796. $1,500 - $2,000
    <b>Cowan’s Auctions: Fine Books, Including the Alan Culpin WWI Art Collection – Live Online Auction. Dec. 18, 2017</b>
    <b>Cowan’s, Dec. 18:</b> 19th C. Vintage Album with 48 Sepia Toned Albumen Prints by Fratelli Alinari et. al.<br>$1,500 - $2,000
    <b>Cowan’s, Dec. 18:</b> Report of Phipps' Voyage in 1773 In Search of a Passage to India Via the North Pole. $1,500 - $2,000
    <b>Cowan’s, Dec. 18:</b> 17 Volumes of Wallace's American Trotting Register, 1874-1891. $1,500 - $2,500
    <b>Cowan’s Auctions: Fine Books, Including the Alan Culpin WWI Art Collection – Live Online Auction. Dec. 18, 2017</b>
    <b>Cowan’s, Dec. 18:</b> Rare First English Edition of Monardes, Joyfull Newes, 1577, Woodcut Illustrations.<br>$1,500 - $3,000
    <b>Cowan’s, Dec. 18:</b> 6 Volume Shakespeare Presented to Virginia Congressman Involved in the "Trent Affair". $1,200 - $1,500
    <b>Cowan’s, Dec. 18:</b> Classic Lothar Meggendorfer Movable Book Complete with 8 Chromolithograph Plates, Ca. 1890. $750 - $1,000
  • <b>Swann Auction Galleries Dec 14: Illustration Art</b>
    <b>Swann Auction Galleries Dec 14:</b> James Montgomery Flagg, <i>Friend, Wife</i>, graphite & watercolor cover for Judge magazine, May 1920. $6,000 to $9,000.
    <b>Swann Auction Galleries Dec 14:</b> Georges Lepape, <i>Après la Tempête</i>, watercolor, ink & graphite cover for <i>Vogue</i>, April 1919, inscribed to Madame Condé Nast. $25,000 to $35,000.
    <b>Swann Auction Galleries Dec 14:</b> Maurice Sendak, <i>Little Bear & His Parents </i>, pencil study & finished watercolor for <i>Bears of the World</i>, 1981. $15,000 to $25,000.
    <b>Swann Auction Galleries Dec 14: Illustration Art</b>
    <b>Swann Auction Galleries Dec 14:</b><br>Dr. Seuss (Theodor Geisel), <i>A Great Gallumphing Galoot!</i>, original drawing & inscription, signed twice, in <i>Dr. Seuss's ABC</i>. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 14:</b> Scrapbook relating to the production of <i>Snow White & the Seven Dwarfs</i>, with 20 original drawings, circa 1937. $7,000 to $10,000.
    <b>Swann Auction Galleries Dec 14:</b> Charles M. Schulz, <i>Gentleman Biographer</i>, pen & ink, <i>Peanuts</i> comic strip, 1972. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 14: Illustration Art</b>
    <b>Swann Auction Galleries Dec 14:</b> Jerry Pinkney, <i>[Brer Rabbit & Brer Bear]</i>, watercolor, pen & ink on paper, 1990. $20,000 to $25,000.
    <b>Swann Auction Galleries Dec 14:</b> <i>Daffydils</i>, festschrift for Harry Hershfield, signed with cartoons & caricatures by George Herriman, Winsor McCay & others, 1911. $5,000 to $7,500.
    <b>Swann Auction Galleries Dec 14:</b> W.W. Denslow, <i>Higglepy, Piggleby, My Black Hen</i>, ink & gouache, for <i>Denslow's Mother Goose </i>, 1901. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 14: Illustration Art</b>
    <b>Swann Auction Galleries Dec 14:</b> Pavel Tchelitchew, <i>Savonarola</i>, graphite & gouache, sketch for the production at Theater in der Königgrätzer Straße, 1923. $5,000 to $7,000.
    <b>Swann Auction Galleries Dec 14:</b> John Philip Falter, <i>Strictly Off the Record</i>, oil on canvas, for Four Roses Whiskey, 1942. $15,000 to $20,000.
    <b>Swann Auction Galleries Dec 14:</b> Charles Addams, <i>Movie Scream</i>, pen, ink & watercolor cartoon for <i>The New Yorker</i>, January 1947. $12,000 to $18,000.
  • <b>19th Century Shop:</b> Charles Darwin on sexuality and the transmission of hereditary characteristics: Autograph Letter Signed to Lawson Tait. Down, 17 January [1877].
    <b>19th Century Shop:</b> MILTON, JOHN. <i>Paradise Lost. A Poem written in ten books.</i> London: 1667. A very rare example with the contemporary binding untouched and with a 1667 title page.
    <b>19th Century Shop:</b> Hamilton secures the ratification of the Constitution: <i>The Debates and Proceedings of the Convention of the State of New-York, assembled at Poughkeespsie, on the 17th June, 1788.</i>
    <b>19th Century Shop:</b> The social contract “Man is born free, and everywhere he is in chains”: ROUSSEAU, JEAN-JACQUES. <i>Principes du Droit Politique [Du Contract Social]</i>. Amsterdam: Michel Rey, 1762
    <b>19th Century Shop:</b> “The first English textbook on geometrical land-measurement and surveying”: BENESE, RICHARD. <i>This Boke Sheweth the Maner of Measurynge All Maner of Lande…</i>
  • <b>Bonhams: History of Science and Technology. Wednesday, December 6, 2017. New York</b>
    <b>Bonhams, Dec. 6:</b> Lot 95. Turing. <i>Systems of Logic Based on Ordinals</i>. Offprint. London, 1939. Robin Gandy's Copy. $20,000 to $30,000
    <b>Bonhams, Dec. 6:</b> Lot 98. Zernike, Fritz. The 1953 Nobel Prize for Physics: The Invention of the Phase-Contrast Microscope. $100,000 to $150,000
    <b>Bonhams, Dec. 6:</b> Lot 111. Apple 1 Computer, operational, with exceptional provenance. $400,000 to $600,000
    <b>Bonhams: Voices of the 20th Century. Wednesday, December 6, 2017. New York</b>
    <b>Bonhams, Dec. 6:</b> Lot 1074. Bruce, Lenny. An unreleased 16 mm film by "Count" Lewis DePasquale featuring Lenny Bruce. $7,000 to $10,000
    <b>Bonhams, Dec. 6:</b> Lot 1254. Hirohito. Manuscript in Japanese, "The Emperor's Monologue," transcribed by Terasaki Hidenari. $100,000 to $150,000
    <b>Bonhams, Dec. 6:</b> Lot 1095. Goldman. Emma. Large archive of correspondence, much of it to Warren Starr Van Valkenburgh. $70,000 to $100,000
    <b>Bonhams: History of Science and Technology. Wednesday, December 6, 2017. New York</b>
    <b>Bonhams, Dec. 6:</b> Lot 109. Wozniak and Jobs. The First Digital "Blue Box", Berkeley, 1972. $30,000 to $50,000
    <b>Bonhams, Dec. 6:</b> Lot 46. Newton, Isaac. <i>Philosophiae naturalis principia mathematica</i>. 1st issue. London, 1687. $300,000 to $500,000
    <b>Bonhams, Dec. 6:</b> Lot 49. Newton. Autograph Manuscript in English, a portion of a draft of Newton's study on revelation. $15,000 to $20,000
    <b>Bonhams: Voices of the 20th Century. Wednesday, December 6, 2017. New York</b>
    <b>Bonhams, Dec. 6:</b> Lot 1027. Fitzgerald, F. Scott. The Great Gatsby. 1st edition, 1st issue. Scribners, 1925. $40,000 to $60,000
    <b>Bonhams, Dec. 6:</b> Lot 1042. Hemingway., Ernest. For Whom the Bell Tolls. Presentation copy, one of 15 copies. Scribners, 1940. $25,000 to $35,000
    <b>Bonhams, Dec. 6:</b> Lot 1215. A 48-star American Flag, flown from LCT-703, sunk on Omaha Beach, December 1944. $15,000 to $20,000

Rare Book Monthly

Articles - June - 2014 Issue

A Market Adjusting to Auction Realizations

B06b2069-368d-47bc-b98f-54d3899631d1

A 19th century book sale at Sotheby's.

In the twelve years that the Americana Exchange has been covering book, manuscript, map and ephemera auctions around the world we have tracked explosions in the number of items listed on listing sites such as Amazon, Abe and Alibris and simultaneously seen a seismic increase in the number of lots offered and sold at auction.  For the listing sites the growth appears to be in the listings, for auctions the growth is in the lots sold.

 

What too often happens with the online listings is the creation of impressions of endless quantities and, for long-term observers, confirmation of little movement.  That does not put off casual buyers but I believe serious collectors are appropriately dissuaded.  Material that is listed for a long time is subject to the suspicion it is overpriced.

 

Because of the scale and frequency of auctions serious buyers who use auction records these days quickly see estimated frequency of re-appearance as well as synthetic price estimations and can compare these values with online prices.  When the comparisons are in line buyers pursue the best listed copies.  When the prices on listing sites are much higher than auction estimates and the probability of reappearance is reasonably short would-be buyers are driven toward auction purchases.

 

So how do we know this?

 

We don’t know absolutely but the anecdotal information is compelling.

 

The number of auctions in the books, manuscripts, maps and ephemera fields has been increasing at a compound rate of 9% a year for the past 10 years, the number of lots offered by 15%.  The median value of auction lots has declined by 20%, much of the decline accounted for by Heritage’s weekly sales of inexpensive material and RR Auction’s higher priced but voluminous sales.  Mike Stillman recently calculated that, these two houses aside, median realizations rose by 7% in 2013 over 2012.  With them included the median declined by 7%.  Material is leaking into the market because owners have concluded they have to sell it.  Overall sales in dollars over the past decade increased by 8% annually, from $257 to $623 million.  At the current rate of increase the auction market will reach a billion dollars in 6 years, at a rate of 10% in 5 years, in three years if the compound rate is 17%.  The shift to auction purchases has been accelerating and I expect we’ll approach the billion dollar level in three years.

 

There are various reasons for this acceleration.  The number of houses is increasing and the number of sales conducted annually by the individual houses also increasing.  Auctions, not so long ago, were random and somewhat unpredictable events.  Today auctions occur with stunning regularity.  In the month of May just concluded 34,000 lots were offered, this month [June ‘14] 54,000.  There are 125 events or 4 a day.

 

Over the past quarter century we have seen a steady decline in dealer shops and a further drop in book fairs.  The number of dealer catalogues issued has also declined.  Institutions and collectors have been forced to look elsewhere and we can see where they are buying.

 

Buyers have been forced into the rooms by the decline of shops and inertia on the listing sites that is drawing both sellers and buyers into the auction rooms.  These circumstances have permitted the auctions to reach a scale now where they are, with some exceptions, the market.

 

Markets always, if sometimes slowly, transform.  The books, manuscripts, maps and ephemera [or perhaps more aptly called the Works on Paper] field has been in slow transition for decades and in quick transition for the past ten years.  WOP is today auction driven and it appears the trend will gain further force in the years ahead.


Posted On: 2014-06-03 19:53
User Name: Fattrad1

Well, we opened a shop just last year, so buyers do have alternatives. And, unless one is able to preview the items in person, I have been somewhat disappointed in the condition of purchases from one auction house.


Posted On: 2014-06-06 17:15
User Name: pazzo1

While, obviously, there is truth buried in here, it seems more than a little disingenuous for a site selling access to auction records to be me promoting the notion that auction records are the sole barometer of price. I mean, I get it - there are a lot more collectors than dealers and you, like the auctions, would like to sell to THEM instead of all of us boring dealers, but a little subtlety would be appreciated while you usher us out the door.


Rare Book Monthly

  • <b>Bloomsbury Auctions: Books and Works on Paper, including Fine Photographs. December 14, 2017</b>
    <b>Bloomsbury, Dec. 14:</b> Rowling (J.K.). Hogwarts School of Witchcraft and Wizardry, original fine black pen and ink manuscript book by the author J.K.Rowling, with 31pp of text and illustrations. £80,000 to £120,000
    <b>Bloomsbury, Dec. 14:</b> Blaeu (Johannes). <i>Vierde Stuck der Aerdrycks-Beschryving, welck vervat Engelandt</i>, i.e. <i>Theatrum Orbis Terrarum</i>. vol 4, England & Wales. £10,500 to £12,500
    <b>Bloomsbury, Dec. 14:</b> Miró (Joan). L'Homme au Balencier, etching, aquatint and carborundum, printed in colours on Japan paper, signed in pencil lower right. £4,000 to £6,000
    <b>Bloomsbury Auctions: Books and Works on Paper, including Fine Photographs. December 14, 2017</b>
    <b>Bloomsbury, Dec. 14:</b> Steve McCurry (b.1950). Afghan Girl, 1984, pigment inkjet print, signed and numbered 48/250 in pencil on lower margin. £2,500 to £3,500
    <b>Bloomsbury, Dec. 14:</b> Keough (Pat and Rosemarie). <i>Antarctica</i>, no 228 of 950 copies, signed by the authors, many colour illustrations, original dark grey morocco. £2,800 to £3,200
    <b>Bloomsbury, Dec. 14:</b> Rowlandson (Thomas). Darby & Joan, the idyllically contended couple sit either side of a stove in a cosy domestic interior, ink and watercolour on wove paper. £1,000 to £1,500
    <b>Bloomsbury Auctions: Books and Works on Paper, including Fine Photographs. December 14, 2017</b>
    <b>Bloomsbury, Dec. 14:</b> Procktor (Patrick). Tiny blue-eyed goldfish, watercolour, 310 x 460mm., signed in blue crayon, lower right, titled and inscribed Muscat Jan 19. £1,000 to £1,500
    <b>Bloomsbury, Dec. 14:</b> Iouri Abramochkin (b.1936). Horsemen, Dagestan, 1968, Lambda print, printed later, signed, dated, editioned 1/8 and annotated in black ink verso. £800 to £1,200
    <b>Bloomsbury, Dec. 14:</b> Ravilious (Eric).- Shakespeare (William). Twelfth NIght, or, What You Will, number 79 of 275 copies , wood-engraved title. £800 to £1,200
    <b>Bloomsbury Auctions: Books and Works on Paper, including Fine Photographs. December 14, 2017</b>
    <b>Bloomsbury, Dec. 14:</b> Michelangelo.- Chastel (André). <i>The Vatican Frescoes of Michelangelo</i>, Photography by Takashi Okamura, 2 vol., one of 600 sets, colour plates. £500 to £700
    <b>Bloomsbury, Dec. 14:</b> Wyndham (John). <i>The Day of the Triffids; The Kraken Wakes; The Chrysalids;</i> together with 8 other volumes. All first editions. £400 to £600
    <b>Bloomsbury, Dec. 14:</b> Alfred Stieglitz (1864-1946). Goats Along The Seine, 1894. Photogravure, printed 1990s by Dorothy Norman, one from an edition of 40 published by Aperture. £400 to £600
  • <b>Les Collections Aristophil:<br>December 20, 2017</b>
    <b>Collections Aristophil, Dec. 20:</b> SAINT-EXUPERY, ANTOINE DE. Kodachrome Film (16mm) showing Antoine de Saint-Exupery and Consuelo on a boat, 1942. JOINED: Guestbook for the Boat, signed, with a drawing of the Little Prince. 15 000 to 20 000 €
    <b>Collections Aristophil, Dec. 20:</b> CANDEE, HELEN CHURCHILL. Autograph manuscript. TITANIC, 40 leaves. Original account of the most famous shipwreck, by a survivor of the ordeal. 300 000 to 400 000 €
    <b>Collections Aristophil, Dec. 20:</b> TITANIC. Collection of 7 documents relating to the shipwreck of the Titanic (14 April 1912). 20 000 to<br>30 000 €
    <b>Les Collections Aristophil:<br>December 20, 2017</b>
    <b>Collections Aristophil, Dec. 20:</b> DUPLEIX DE CADIGNAN, JEANBAPTISTE. Signed autograph manuscript. Thirty years of memoirs related to military services and important information on the American War of Independence.<br>40 000 to 50 000 €
    <b>Collections Aristophil, Dec. 20:</b> CURTIUS. Faiz et Conquestes d'Alexandre [Histoire d'Alexandre le Grand]. In French, illuminated manuscript on paper and parchment, 16 large miniatures. 300 000 to<br>500 000 €
    <b>Collections Aristophil, Dec. 20:</b> NELSON, HORATIO. Signed autograph letter, ‘Nelson & Bronte,” aboard the Amazon, 14 October 1801, addressed to Sir William Hamilton. 4 000 to 5 000 €
    <b>Les Collections Aristophil:<br>December 20, 2017</b>
    <b>Collections Aristophil, Dec. 20:</b> GIROLAMO FRANCESCO MARIA MAZZUOLI DIT LE PARMESAN. Le couple amoureux. Pen and brown ink. 80 000 to 120 000 €
    <b>Collections Aristophil, Dec. 20:</b> SADE, DONATIEN-ALPHONSE-FRANÇOIS, MARQUIS DE. Autograph manuscript. The 120 Days of Sodom, or the School of Libertinage, 1785.<br>4 000 000 to 6 000 000 €
    <b>Collections Aristophil, Dec. 20:</b> MIRÓ, JOAN. Signed autograph correspondence to Thomas and Diane Bouchard (1949-1976). 50 000 to 60 000 €
    <b>Les Collections Aristophil:<br>December 20, 2017</b>
    <b>Collections Aristophil, Dec. 20:</b> BALZAC, HONORÉ DE. Signed autograph manuscript, Ursule Mirouët, [1841]. One of only two manuscripts of novels by Balzac in private hands. 800 000 to<br>1 200 000 €
    <b>Collections Aristophil, Dec. 20:</b> LENOIR, ALEXANDRE. Essai sur l'histoire des arts en Egypte pouvant servir d'appendice au grand ouvrage de la Commission. autograph manuscript with numerous additions and corrections. 40 000 to 50 000 €
    <b>Collections Aristophil, Dec. 20:</b> SCHRÖDINGER, ERWIN. Autograph manuscript [Spring 1946, sent to Albert Einstein]. 1 500 to 2 000 €
  • <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>Christie’s Online, Dec. 5 – Dec. 12:</b> <i>John the Baptist</i>. initial 'H' cut from a choirbook [Lombardy or Siena, c. 1470s]. US$6,000–9,000
    <b>Christie’s Online, Dec. 5 – Dec. 12:</b> <i>Maharaja Ranjit Singh (1780–1839) seated on a terrace with Sikh noblemen</i>. [Punjab, North India, circa 1830-40]. Estimate: US$10,000–15,000

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