Rare Book Monthly

Articles - November - 2002 Issue

Auctions: It’s a New World Out There


The Jury, George Bellows 1916Lithograph

By Bruce McKinney

This month the AE ushers in significant changes in the ways book auctions and the people who love books interact. With the development of the AE auction module many of the longstanding assumptions and methodologies of the traditional book auction process simply yield to new technology and to our commitment to provide auction information in a way that places the book collector at the center rather than at the periphery of the auction process. By creating categories of interest (at this point about 80) for the Americana field and categorizing all appropriate lots in all visible upcoming sales we make it possible for collectors of specific categories of material, Civil War-iana for example, to quickly scan all upcoming sales both in the United States and Europe for material that is of personal interest. In doing this, we take what has been an expensive, time consuming and uncertain process and make it a reasonable, efficient and rewarding experience. In doing this we open up to the broader community of interested parties the extraordinary world of books at auction.

Today, only a small percentage of book people buy at auction and most of them are repeat buyers. That is, they have successfully purchased in the past and they seek to do so again. This small minority that buys at auction does not proselytize auction buying. In fact they are usually silent. Their information of and about the auctions has been valuable to them. Understandably, they don’t share it. Auction houses, on the other hand, do not do a good enough job of publicizing themselves and they are almost never part of activities that publicize auctions and the auction bidding process generally This is because they are in keen competition with each other. They can only sell what sellers agree to consign and to obtain consignments they perpetually compete with other auction houses. They compete on the basis of expertise and their ability to prepare appropriate descriptions in elaborate catalogues. They compete on the basis of commission rate. They compete on the basis of promotion and they compete based on their sales histories with particular types of material. They are often competing for what seems to be a declining quantity of books that are offered for sale at auction at all. So of course, they compete against alternative selling approaches as well.

Not so long ago a book collector, at the end of their collecting career, had only three alternatives for dispersing a collection: donate to an institution (and receive a tax credit for the gift), sell to a dealer or sell at auction. Today those possibilities now include selling on a listing site such as ABE and selling on an auction site such as eBay. But of these alternatives, only an outright sale of the entire collection to a dealer or sending the collection to auction will yield a complete cash outcome in any reasonable time. The auction approach affords an indisputable “market” outcome that lawyers sometimes prefer. Whereas a dealer may expect to receive higher prices when they sell they are not certain when these prices will be realized. This may limit the offer a dealer will make.

Reconstituting the book auction process can not come soon enough. The proliferation of net sites may be increasing the overall number of transactions but they also seem to be having some negative impact on book auction volume. The auction process has been particularly vulnerable because it is the least internally organized. Book dealers are organized around core organizations such as ABE (a 5% listing site) which has more than 9,000 registered sellers, ILAB, the International League of Antiquarian Booksellers with more than 2,000 members and the ABAA, the Antiquarian Booksellers Association of America with almost 500 members. They each function as a group while the auction houses each operate very independently.

Rare Book Monthly

  • <b>Old World Auctions (March 21-28):</b> Lot 7. Ritter's unusual sun-dial world map, 1607. Est. $3500 to $4500
    <b>Old World Auctions (March 21-28):</b> Lot 16. Fascinating Japanese satirical map published prior to WWII, 1932. Est. $1400 to $2000
    <b>Old World Auctions (March 21-28):</b> Lot 30. Newton's 2" miniature terrestrial globe, 1833. Est. $3500 to $4500
    <b>Old World Auctions (March 21-28):</b> Lot 318. Braun & Hogenberg's first plan of Moscow in contemporary color, 1575. Est. $2750 to $3500
    <b>Old World Auctions (March 21-28):</b> Lot 346. One of the most decorative 18th century maps of Malta, 1680. Est. $1200 to $1500
    <b>Old World Auctions (March 21-28):</b> Lot 412. The first printed map devoted to the Pacific in full contemporary color, 1589. Est. $8000 to $10000
    <b>Old World Auctions (March 21-28):</b> Lot 425. Rare set of celebrated explorers of the New World, 1592. Est. $1900 to $2300
    <b>Old World Auctions (March 21-28):</b> Lot 436. Two superb miniature atlases bound in one volume with 98 maps, 1682. Est. $5500 to $7500
    <b>Old World Auctions (March 21-28):</b> Lot 445. Part IV of de Bry's "Grand Voyages" by Girolamo Benzoni, 1613. Est. $2000 to $2500
    <b>Old World Auctions (March 21-28):</b> Lot 447. Tallis' "History of the United States of America" in six volumes, 1850. Est. $1500 to $1800
    <b>Old World Auctions (March 21-28):</b> Lot 448. Mallet's miniature military masterpiece, 1672. Est. $1400 to $1700
  • <b>Swann Auction Galleries Mar 29: Printed & Manuscript African Americana</b>
    <b>Swann Auction Galleries Mar 29:</b> Malcolm X, Autograph Letter Signed, from prison, 1950. $20,000 to $30,000.
    <b>Swann Auction Galleries Mar 29:</b> Letter from Moses Walker, an enslaved Georgia man, to his mother at another plantation, 1854. $12,000 to $18,000.
    <b>Swann Auction Galleries Mar 29:</b> Signed cabinet card of Frederick Douglass, albumen photograph, Boston, circa 1879. $10,000 to $15,000.
    <b>Swann Auction Galleries Mar 29: Printed & Manuscript African Americana</b>
    <b>Swann Auction Galleries Mar 29:</b> Placard from the Memphis Sanitation Worker's strike, 1968. $10,000 to $15,000.
    <b>Swann Auction Galleries Mar 29:</b><br><i>The North Star,</i> volume 1, issue 27, Rochester, NY, 1848. $8,000 to $12,000.
    <b>Swann Auction Galleries Mar 29:</b> Hand-tinted tintype of John Brown, circa 1860. $4,000 to $6,000.
    <b>Swann Auction Galleries Mar 29: Printed & Manuscript African Americana</b>
    <b>Swann Auction Galleries Mar 29:</b> Poster signed & inscribed by Huey Newton, circa 1967. $4,000 to $6,000.
    <b>Swann Auction Galleries Mar 29:</b> Album of aerial views of the march on Montgomery, taken by federal troops, 1965. $3,000 to $4,000.
    <b>Swann Auction Galleries Mar 29:</b> Poster for the SNCC, photograph by Danny Lyon featuring John Lewis, circa 1962. $3,000 to $4,000.
  • <b>Bonhams: Fine Books and Manuscripts. March 9, 2018</b>
    <b>Bonhams, Mar. 9:</b> BEETHOVEN, LUDWIG VAN. Autograph Manuscript sketch-leaf part of the score of the Scottish Songs, "Sunset" Op. 108 no 2. [Vienna, February 1818]. Inscribed by Alexander Wheelock Thayer. $80,000 to $120,000
    <b>Bonhams, Mar. 9:</b> Violin belonging to Albert Einstein, presented to him by Oscar H. Steger, 1933. $100,000 to $150,000
    <b>Bonhams, Mar. 9:</b> EINSTEIN, ALBERT. Autograph Letter Signed ("Papa") to his son Hans Albert, discussing his involvement with the atomic bomb, September 2, 1945. $100,000 to $150,000
    <b>Bonhams: Fine Books and Manuscripts. March 9, 2018</b>
    <b>Bonhams, Mar. 9:</b> HAMILTON, ALEXANDER. Autograph Letter Signed, to Baron von Steuben, with extensive notes of Von Steuben's aide Benjamin Walker, June 12, 1780. $10,000 to $15,000
    <b>Bonhams, Mar. 9:</b> NEWTON, ISAAC. Autograph Manuscript in Latin, being detailed instructions on making the philosopher's stone. 8 pp. 1790s. $200,000 to 300,000
    <b>Bonhams, Mar. 9:</b> 1869 Inauguration Bible of President Ulysses S. Grant. $80,000 to $120,000
  • <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>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Jenner (Rev. George Charles). <i>The Evidence at Large...Respecting Dr Jenner's Discovery of Vaccine Inoculation,</i> presentation copy from Edward Jenner to Rev. Rowland Hill, 1805. £4,000 to £6,000
    <b>Forum Auctions, Mar. 22:</b> Houdini (Harry).- Maggi (Girolamo). <i>De tintinnabulis liber postumus...de equuleo liber,</i> Harry Houdini's copy, Amsterdam, H. Wetstein, 1689. £600 to £800
    <b>Forum Auctions, Mar. 22:</b> Meyer (Henry Leonard). Coloured Illustrations of British Birds, and their Eggs , 7 vol. in 2 plus Illustrations of British Birds, 4 vol., 1842-50 and [1835-51]. £5,000 to £7,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Dickens (Charles). <i>An Entirely New Romantic Drama, in Three Acts, by Mr. Wilkie Collins, called The Frozen Deep,</i> 1857. £3,000 to £4,000
    <b>Forum Auctions, Mar. 22:</b> Lighthouses and Islands of Ireland, c. 125 drawings, 1867. £6,000 to £8,000
    <b>Forum Auctions, Mar. 22:</b> Shelley (Lady Jane). Diary, 1853 & 1860. £1,500 to £2,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Scottish Binding.- The Holy Bible, Containing the Old and New Testaments, bound in contemporary brown polished calf decorated with the figure of a Chinese spearman, by ?James Scott of Edinburgh, 1778. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Greene (Graham). <i>The Man Within,</i> first edition, signed by the author, 1929. £4,000 to £6,000
    <b>Forum Auctions, Mar. 22:</b> Mellan (Claude, 1598-1688). The Holy Face, or the Veil of St Veronica, [c. 1649 and later]. £800 to £1,200
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Desaguliers (John Theophilus). <i>A Dissertation concerning Electricity,</i> W. Innys, and T. Longman, 1742. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Le Jeune (Paul). <i>Relation de se qui s'est passé en la Nouvelle France en l'anné 1636 enuoyée au R.Pere Provincial de la Compagnie de Iesus en la Province de France,</i> 1637. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Stumpf (Johann Rudolph). <i>Gemeiner loblicher Eydgnoschafft Stetten, Landen und Völckern Chronicwirdiger thaaten beschreibung, </i> Zurich, Froschauer, 1586. £3,000 to £4,000

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