• <b>Skinner: Early English Books<br>A Single Owner Sale. July 20, 2018</b>
    <b>Skinner, July 20:</b> Cranmer, Thomas (1489-1556). <i>Catechismus, That is to Say, a Shorte Instruction into Christian Religion...</i> London, 1548. First edition. $12,000 to $18,000
    <b>Skinner, July 20:</b> Donne, John (1572-1631). <i>Pseudo-Martyr.</i> London: Printed by W[illiam] Stansby for Walter Burre, 1610. First edition. $25,000 to $35,000
    <b>Skinner, July 20:</b> Fletcher, Giles (1549?-1611). <i>The Russe Common Wealth, or Maner of Gouernement by the Russe Emperour…</i> London, 1591. First edition. $15,000 to $25,000
    <b>Skinner, July 20:</b> Gabelkover, Oswald (1539-1616). <i>The Boock of Physicke.</i> Dordrecht: Isaack Caen, 1599. First edition. $12,000 to $15,000
    <b>Skinner: Early English Books<br>A Single Owner Sale. July 20, 2018</b>
    <b>Skinner, July 20:</b> Galileo, Galilei (1564-1642) trans. Thomas Salusbury (d. 1666). <i>Mathematical Collections and Translations the First Tome.</i> London, 1661. First edition of Galileo's works in English. $35,000 to $50,000
    <b>Skinner, July 20:</b> Higden, Ranulphus (d. 1364). <i>Polycronicon.</i> Translated by John Trevisa, with the 1357-1460 <i>Continuation</i> by William Caxton. Southwark, 1527. $15,000 to $25,000
    <b>Skinner, July 20:</b> Randolph, Bernard (b. 1643). <i>The Present State of the Morea, Called Anciently Peloponnesus…</i> London, 1689. [Bound with] <i>The Present State of the Islands of the Archipelago…</i> $10,000 to $15,000
    <b>Skinner, July 20:</b> <i>The Great Herball Newly Corrected.</i> London, 1539. Folio, ESTC lists three U.S. copies; the last copy offered at auction was incomplete and sold in 1949. $25,000 to $35,000
  • <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>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Zane Grey, Inscribed photograph album depicting Grey and party at Catalina, fishing, and in Arizona. $700 to $1,000
    <b>Doyle, online only Jul 13-24:</b> Eric Taverner, Salmon Fishing...London: Seeley, Service & Co., 1931. $600 to $900
    <b>Doyle, online only Jul 13-24:</b> The Gentleman Angler. $300 to $500
    <b>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Ken Robinson, Flyfishers' Progress. [London: The Flyfishers' Club, 2000. $200 to $300
    <b>Doyle, online only Jul 13-24:</b> G. H. Lacy, North Punjab Fishing Club Angler's Handbook. Calcutta: Newman & Co., 1890. $300 to $500
    <b>Doyle, online only Jul 13-24:</b> J. Harrington Keene, Fly-Fishing and Fly-Making for Trout, etc. New York, 1887. $200 to $300
    <b>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Arthur Macrate, The History of The Tuna Club, Avalon, Santa Catalina Island, California, 1948. $400 to $600
    <b>Doyle, online only Jul 13-24:</b> Joseph D. Bates Jr. Streamer Fly Tying and Fishing. Harrisburg, PA: The Stackpole Company, 1966. $800 to $1,200
    <b>Doyle, online only Jul 13-24:</b> Paul Schmookler and Ingrid V. Sils. Rare and Unusual Fly Tying Materials: A Natural History. $300 to $500
    <b>Doyle, online only Jul 13-24:</b> Herbert Hoover, Fishing For Fun - And To Wash Your Soul. New York: Random House, 1963. $400 to $600
  • <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> SHAKESPEARE, WILLIAM. <i>The Tragedie of Julius Caesar.</i> London, 1623. 1st appearance in print, Complete from the First Folio. Sold for $175,000
    <b>Bonhams, June 12 results:</b> Ernst, Max. <i>Mr. Knife and Miss Fork</i>. Paris, 1932. DELUXE EDITION. Sold for $15,625
    <b>Bonhams, June 12 results:</b> Cage, John. Autograph musical leaf from his Concert for Piano and Orchestra, NY, 1958. Sold for $18,750
    <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Einstein, Albert. Signed Passport Photo for his US citizenship application. Bermuda, 1935. Sold for $17,500
    <b>Bonhams, June 12 results:</b> Verard, Antoine. Illuminated printed Book of Hours. Paris, 1507. Sold for $7,500
    <b>Bonhams, June 12 results:</b> Wetterkurzschlussel. German Weather Report Codebook - for Enigma use. Berlin, 1942. Sold for $225,000
    <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Morelos y Pavon, Jose Maria. Autograph letter signed to El Virrey Venegas, February 5, 1812. Sold for $6,250
    <b>Bonhams, June 12 results:</b> Milne, A.A. Complete set of <i>Winnie-the-Pooh</i> books. 4 volumes. All first issue points. London, 1924-1928. Sold for $5,250
    <b>Bonhams, June 12 results:</b> A 48-star American Flag, battle worn flown at Guadalcanal and Peleliu, 1942-1944. Sold for $35,000
    <b>Bonhams, June 12 results:</b> Locke, John. Autograph Letter Signed mourning the death of his friend, William Molyneaux, 2 pp, October 27, 1698. Sold for $20,000

Rare Book Monthly

Articles - January - 2015 Issue

Looking Ahead

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Cartoon by Rex F. May

Paul Krugman in his book The Conscience of a Liberal, published in 2007, describes the economic history of America since the Civil War as a succession of changing perspectives on taxation. This led me to wonder if tax rates, which are unusually low today, are having an impact on book collecting and rare book valuation.

The Gilded Age that emerged in the 1870s and that lasted until the Great Depression was a time where wealth was highly concentrated, easily maintainable, and not taxed on the top 10% of taxpayers at unusually onerous rates.  During the Depression, after FDR became President, his goal became to radically shift wealth back to the masses though the gradual escalation of tax rates. This lead over the next three decades to greatly elevated tax rates on the wealthy, eventually topping out at nearly 80% around 1955. Twenty-five years later, Ronald Reagan undid this high tax paradigm, replacing it with a two-tiered approach that reduced the rates for all taxpayers but particularly reduced the rates on high incomes.  These tax cuts, now embedded in the American tax system, continue to vastly favor the wealthy.  As a result, the percentage of assets held by those with the highest income has soared while income earned by the middle class has eroded. 

In a comparison between tax rates and rare book pricing as expressed in AE’s auction outcomes over the past 150 years, it is difficult to correlate prices and tax rates in the United States in any of these periods, at least in part because other events consistently intervened; in particular, the Great Depression followed by World War Two, both extraordinary economic periods of stimulus, with the war years also a period of enforced personal saving.  Post WW2, these earnings surged into the economy providing a solid ten years of economic stimulus and creating an enormous middle class that often used the GI Bill to attend college, thus supporting and encouraging institutions to build monumental libraries with vast and important special collections that over the next fifty years would dominate rare book acquisition.

Today such broad based rare book acquisition is in decline, many institutions now maintaining but no longer aggressively building their collections. Their focus has shifted to gifts, narrowing collections and repurposing facilities. 

Since the early eighties in addition to lower tax rates we also have seen the rise of the Internet, the extraordinary connectivity tool that makes inventories and the contents of printed material accessible.  Both aspects have transformed the world of old and rare books.  Whether declining tax rates or increasing access is the most important factor is unclear.  Databases such as Abe Books now warehouse the descriptions and prices of material from all over the world – permitting in a few keystrokes the searching of more than a hundred million books that are available for purchase.  As well, Google Books and others now provide full access to the texts of out of copyright material. 

These changes have then led to a redefining of what is rare and also made it appropriate to ask librarians if their job is to provide fully searchable text or the original printed texts.  About ten years ago librarians by a margin of 70/30 said their job was to provide the searchable text.  A few years ago the numbers shifted to 85/15, and one well-placed dealer said the numbers were shifting to 90/10.  The role of rare books is changing.

The cost to maintain such collections is also rising, while the flow of visitors is declining.  The costs of rising security, preservation, and personnel are now being gauged against traffic that is falling as researchers increasingly use electronic access to full texts rather than make time consuming and sometimes expensive trips to view printed copies first hand.

This will eventually lead to the dismantling of many library collections. Not all, but many will be redistributed within the library world and/or sold to dealers or sent to auction.  The cost of maintaining such libraries is becoming too high to justify the many related and unavoidable expenses that are attendant to such collections so it seems a certainty that many will be disposed.   But the stages of acquisition, holding, refocusing, and dispersal will be measured in decades, not years.  Most of what will happen will happen well into the future, and the reasons seem less to do with economic periods than with increased information and changing technologies that recalculate the access/ownership equation and increasingly favor access over object.  This suggests a tsunami of new collectors will be needed over the next twenty years to offset library outflows, something I think is achievable because collecting possibilities have probably never been better. 

But how do we make the case to the book collectors of tomorrow once they are identified?  It will require every hand; the booksellers associations, the auctions, the listing sites, the libraries, and the rare book research sites all to play their part.  Those involved with old and rare books understand its power.  The challenge is to convey that power.  

In 2015, and in the years ahead, we need to make that case clearly and with conviction.  It will be an act of kindness to them and to ourselves.

Rare Book Monthly

  • <b>Swann Auction Galleries:</b> Luis de Lucena, <i>Arte de Ajedres,</i> first edition of the earliest extant manual on modern chess, Salamanca, circa 1496-97. Sold for $68,750.
    <b>Swann Auction Galleries:</b> Carte-de-visite album with 83 images of prominent African Americans & abolitionists, circa 1860s. Sold for $47,500.
    <b>Swann Auction Galleries:</b> Gustav Klimt, <i>Das Werk,</i> Vienna & Leipzig, 1918. Sold for $106,250.
    <b>Swann Auction Galleries:</b> Man Ray, <i>[London Transport] – Keeps London Going,</i> 1938. Sold for $149,000.
    <b>Swann Auction Galleries:</b> Thomas Jefferson, Letter Signed, to Major-General Nathanael Greene, promising reinforcements against Cornwallis, 1781. Sold for $35,000.
    <b>Swann Auction Galleries:</b> Nicolas de Fer, <i>L’Amerique Divisee Selon Letendue de ses Principales Parties,</i> Paris, 1713. Sold for $30,000.
    <b>Swann Auction Galleries:</b> Russell H. Tandy, <i>The Secret in the Old Attic,</i> watercolor, pencil & ink, 1944. Sold for $35,000.
    <b>Swann Auction Galleries:</b> Ernest Hemingway, <i>Three Stories & Ten Poems,</i> first edition of the author's first book, Paris, 1923. Sold for $23,750.
    <b>Swann Auction Galleries:</b> Walker Evans, <i>River Rouge Plant,</i> silver print, 1947. Sold for $57,500.
  • <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 372: Martin Luther King Jr. March for Freedom Now! Placard. Chicago, 1960. 28 x 22”. $3,000 to $6,000
    <b>Potter & Potter Auctions, July. 28:</b> Lot 567: Warhol, Andy. Tate Gallery Exhibition Booklet, Signed on the Cover by Warhol. Tate Gallery, 1971. $700 to $900
    <b>Potter & Potter Auctions, July. 28:</b> Lot 72: Mitchell, Margaret. <i>Gone With the Wind.</i> New York: The Macmillan Co., 1936. First edition, first issue. $4,000 to $5,000
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 468: Photo Archive Documenting the 1930s—50s Chicago Jazz and Night Club Scene. A significant collection. $2,000 to $4,000
    <b>Potter & Potter Auctions, July. 28:</b> Lot 143: Dr. Seuss. <i>Oh Say Can You Say.</i> 1979, First Edition, Signed. $200 to $300
    <b>Potter & Potter Auctions, July. 28:</b> Lot 285: [Maps] Thomas G. Bradford. <i>A Comprehensive Atlas, Geographical, Historical & Commercial.</i> Boston: William D. Ticknor, 1835. First Edition. $1,600 to $1,800
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 69: Herman Melville. <i>Moby Dick, or The Whale</i>. New York: Random House, 1930. First Kent Trade Edition. $400 to $600
    <b>Potter & Potter Auctions, July. 28:</b> Lot 295: John James Audoban. Group of 148 Lithographs from the Birds of America. Philadelphia: J.T. Bowen, ca. 1840s. $600 to $800
    <b>Potter & Potter Auctions, July. 28:</b> Lot 54: Langston Hughes. <i>One-Way Ticket.</i> New York: Alfred A. Knopf, 1949. First edition. $300 to $500
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 7: Ray Bradbury. <i>The Martian Chronicles.</i> With a Wine Label Signed by Bradbury. Garden City: Doubleday, 1950. First edition $300 to $500
    <b>Potter & Potter Auctions, July. 28:</b> Lot 121. Frank L Baum. <i>The Wonderful Wizard of Oz.</i> Chicago: George M. Hill Co., 1899, 1900. First Edition. $4,000 to $5,000.
    <b>Potter & Potter Auctions, July. 28:</b> Lot 369. [Declaration of Independence] Peter Force Engraving of the Declaration of Independence. One page; 29 x 26”. From the "American Archives" 1837-1853 series of books. $15,000 to $20,000

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