• <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 - 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>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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