• <b>ALDE - Modern Illustrated Books - Original Drawings. 22 November 2017</b>
    <b>ALDE, Nov. 22:</b> DEGAS (Edgar). Danseuses au repos. Charcoal drawing. 30,000€ to 40,000€
    <b>ALDE, Nov. 22:</b> ERNST (Max). Une Semaine de bonté ou Les Sept éléments capitaux. Deuxième cahier. L'Eau. 1934. With an original collage signed by Max Ernst. 15,000€ to 20,000€
    <b>ALDE, Nov. 22:</b> BALZAC (Honoré de). Le Chef-d’œuvre inconnu. 1931. Illustrated edition by Pablo Picasso of 12 original etchings. 20,000€ to 30,000€
    <b>ALDE, Nov. 22:</b> GIACOMETTI (Alberto). Paris sans fin. 1969. Last illustrated book of Giacometti. 15,000€ to 20,000€
  • <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
  • <b>Christie’s Paris, Nov. 28:</b> Seba, Albertus. <i>Locupletissimi rerum naturalium thesauri.</i> Amsterdam: J. Wetsten, 1734[-1769]. €350,000–550,000
    <b>Christie’s Paris, Nov. 28:</b> Janssonius, Joannes. <i>Novus Atlas Absolutissimus</i>. Amsterdam: J Jansson, 1658 [after 1664]. €250,000–450,000
    <b>Christie’s Paris, Nov. 28:</b> Goya, Francisco de. <i>[La Tauromaquia.] Treinta y tres estampas, que representan diferentes suertes y actitudes del arte de lidiar los Toros</i>. Madrid: [Rafael Esteve, 1816]. €150,000–250,000
    <b>Christie’s Online, Nov. 29 – Dec. 06:</b> Einstein, Albert. <i>On residual rays – and guilt about an old girlfriend</i>. Prague, 26 December 1911. US$10,000–15,000
    <b>Christie’s Online, Nov. 29 – Dec. 06:</b> Einstein, Albert. <i>‘What is logically simple is so difficult mathematically'</i>. Princeton, 16 August 1949. US$20,000–30,000
    <b>Christie’s New York, Dec. 5:</b> Yorktown Campaign manuscript map. ‘No 1 Carte générale de l’Isle de New York et des Environs...No 2. Reconnoissance Geometrique…’ n.p., c. 1781–1782. US$150,000–200,000
    <b>Christie’s New York, Dec. 5:</b> Le Hay, Jacques and Ferriol, Charles de (1637–1722). <i>Recueil de cent estampes représentant differentes nations du Levant</i>. Paris: Le Hay and Duchange, 1714. US$30,000–40,000
    <b>Christie’s New York, Dec. 7:</b> Cresswell, Samuel Gurney. <i>A Series of Eight Sketches … of the Voyage of the H.M.S. Investigator during the Discovery of the North-west Passage</i>. London: 1854. US$30,000–40,000.
    <b>Christie’s New York, Dec. 7:</b> Veer, Gerrit de. <i>Diarium nauticum seu vera descriptio trium navigationum admirandarum</i>. Amsterdam: Cornelius [Claesz], 1598. US$25,000–35,000

Rare Book Monthly

Articles - July - 2014 Issue

A Second Bookseller Goes “Public”

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From the Bookbarn website.

Turning to the public markets for funding of businesses in the selling of old books seems to be gaining some steam, at least in England. In May, Scholium Group, whose main business is Shapero Rare Books, went public with an offering on the London Stock Exchange. This past month, it was Somerset bookseller Bookbarn International that made the move. However, the Bookbarn offering is nothing like that of Scholium. Their offering is less than 1% the size of Scholium's, and their shares will not be listed on the London Stock Exchange, nor anywhere else.

 

Bookbarn has elected to raise funds through a website called “Crowdcube.” It provides a public forum where anyone can invest in a company, but the investments are more akin to venture capital than stock market investing. I'm not sure such a program would even be legal in the United States, with its various reporting regulations designed to protect investors buying in the open market. What Crowdcube provides is a way for small-time investors, and I do mean small-time, to invest in small businesses. Investments can be as low as £10 (about $17 in U.S. currency). Good luck finding a venture capitalist interested in making a $17 investment. Of course, you could go public and offer shares on a stock exchange for less than $17 each, as did Scholium, but the cost of registration statements and everything else needed for a market offering is more than the total amount Bookbarn will raise.

 

The way Crowdcube works is you go to their page for Bookbarn, and it allows you to make an investment of any size starting at £10. As of June 30, they had so far raised £34,550 from 57 investors, the largest single investment being £5,000. Bookbarn's target is £75,000, with the Crowdcube rules providing that the investments will be returned if the goal is not met. In return for the £75,000, Bookbarn is offering investors 6% of the company. In other words, they have valued the company at £1,250,000 (roughly US $1.7 million). In comparison, the Scholium offering was for £8 million (for roughly 60% of the company), giving it a value of £13.2 million, or about US $21.9 million, at the time of the offering.

 

A public offering of this type does not provide the level of protection of one on a public stock market. There is not the level of regulation and information that must be given potential buyers on a stock exchange. This is more of a flyer for small investors to take a minor interest in start up or other small companies. Additionally, an investor's share of such a company is illiquid. Crowdcube allows buyers to sell to other Crowdcube buyers, but this is not like a public stock exchange where there are shares being bought and sold everyday. You may have a hard time selling your share if you want your money back. This type of investment is really more appropriate for someone who likes a particular company, wants to be a part owner, and thinks maybe it will one day be a big success and provide a good return. One should not invest through a platform like Crowdcube if the security of your investment is a high priority. The risk level is very high.

 

In its press release, Bookbarn's owners said they believe Bookbarn “is the largest seller of antiquarian, rare and collectable books in the world,” which seems a stretch. They say they have 30 full and part-time staff and a 38,000 square foot warehouse. They sell on “19 different e-commerce platforms around the world, including a major government-owned distributor in China.”

 

The Crowdcube offering can be found at the following link:  www.crowdcube.com/investment/bookbarn-international-15675. We make no recommendation of this offering and advise anyone considering an investment to read the risk warning carefully.

Rare Book Monthly

  • <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy!</b>
    <b>19th Century Shop:</b> Walt Whitman. Poetical manuscript from <i>Leaves of Grass</i> (1865)
    <b>19th Century Shop:</b> (Daniel Boone.) Filson. <i>The Discovery ... of Kentucke</i> (1784)
    <b>19th Century Shop:</b> Edgar A. Poe. <i>Tales</i> (1845) original cloth
    <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy!</b>
    <b>19th Century Shop:</b> Emerson. Autograph letter signed on his philosophy of poetry (1841)
    <b>19th Century Shop:</b> Fitzgerald. <i>This Side of Paradise</i> (1920) presentation copy
  • <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>Ketterer Kunst Hamburg: Rare Books Auction on November 20th</b>
    <b>Ketterer Rare Books Nov. 20:</b><br><i>Biblia latina</i>, Nuremberg 1475. <br>Est: €18,000
    <b>Ketterer Rare Books Nov. 20:</b><br>Latin and French Book of Hours, Paris around 1490. Est: €60,000
    <b>Ketterer Rare Books Nov. 20:</b><br>P. J. Redouté, <i>Les Roses</i>, Paris 1828-29. Est: €12,000
    <b>Ketterer Kunst Hamburg: Rare Books Auction on November 20th</b>
    <b>Ketterer Rare Books Nov. 20:</b><br>G. W. Knorr, <i>Deliciae Naturae Selectae</i>, Doordrecht 1771. Est: €10,000
    <b>Ketterer Rare Books Nov. 20:</b><br>J. J. Spalowsky, <i>Beytrag zur Naturgeschichte der Vögel</i>, Vienna 1790-92. Est: €20,000
    <b>Ketterer Rare Books Nov. 20:</b><br>H. A. Châtelain, <i>Atlas historique</i>, Amsterdam 1718-20. Est: €20,000
    <b>Ketterer Kunst Hamburg: Rare Books Auction on November 20th</b>
    <b>Ketterer Rare Books Nov. 20:</b><br>K. Rasmussen, Thule-expedition, around 1925-33. Est: €28,000
    <b>Ketterer Rare Books Nov. 20:</b><br>E. Cerillo, <i>Dipinti murali di Pompei</i>, Napels 1886. Est: €3,000
    <b>Ketterer Rare Books Nov. 20:</b><br>W. Shakespeare, <i>The plays</i>, London 1807. Est: €1,500
    <b>Ketterer Kunst Hamburg: Rare Books Auction on November 20th</b>
    <b>Ketterer Rare Books Nov. 20:</b><br>G. Klimt, <i>Das Werk</i>, Vienna 1914. Est: €15,000
    <b>Ketterer Rare Books Nov. 20:</b><br><i>International Exhibition of Modern Art</i>, New York 1926. Est: €3,500
    <b>Ketterer Rare Books Nov. 20:</b><br><i>Arp – Delaunay – Magnelli – Taeuber-Arp</i>, Paris 1950. Est: €1,500
  • <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 5:</b><br>John Norman, <i>The American Pilot</i>, complete copy with 11 folding charts, Boston, 1810. $80,000 to $120,000.
    <b>Swann Auction Galleries Dec 5:</b><br>John Smith, <i>New England</i>, London, 1616. $20,000 to $30,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Plancius Petrus, <i>Orbis Terrarum Typus de Integro Multis in Locis Emendatus</i>, Amsterdam, 1594. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 5:</b><br>Martin Waldseemüller, <i>Tabula Terre Nove</i>, woodcut, Strasbourg, 1513. $30,000 to $40,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Forlani & Zaltieri, <i>Il Disegno del Discoperto della Noua Franza</i>, Venice, 1566. $30,000 to $50,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Richard Hakluyt, <i>Novus Orbis</i>, first appearance of "Virginia" on a printed map, Paris, 1587. $40,000 to $60,000.
    <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 5:</b><br>Pieter van den Keere, <i>Nova Totius Terrarum Orbis Geographica</i>, Amsterdam, 1608. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Abraham Ortelius, <i>Theatrum Orbis Terrarum</i>, Antwerp, 1584. $25,000 to $35,000.
    <b>Swann Auction Galleries Dec 5:</b><br>George B. Goode & Samuel A. Kilbourne, <i>Game Fishes of the United States</i>, New York, 1879. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 5:</b><br>William Faden, <i>The Province of New Jersey</i>, London, 1777. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 5:</b><br>James Gillray, <i>The Plumb-Pudding in Danger</i>, hand-colored etching, London, 1805. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Pierre Belon, <i>L'Histoire de la Nature des Oyseaux</i>, with woodcut illustrations, Paris, 1555. $8,000 to $12,000.

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