• <b>Now in press: 19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop.</b> <i>The First American Magna Carta. English Liberties.</i> Boston, 1721.
    <b>19th Century Shop.</b> Babbage presentation to Peel, the man who killed the Difference Engine 1832
    <b>19th Century Shop.</b> The Stamp Act. 1765
    <b>Now in press: 19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop.</b> Central Park Photographs by Prevost 1862
    <b>19th Century Shop.</b> Salem Witch Trials. Wonders of the Invisible World 1693
    <b>19th Century Shop.</b> Mammoth print of Millie-Christine, "The Carolina Twins" c. 1868
  • <b>Seth Kaller:</b> “America the Beautiful”
    <b>Seth Kaller:</b> George Washington, Tongue-in-Cheek, Writes James McHenry About His Wife or Mistress—But Funding the Continental Army is the Real Topic
    <b>Seth Kaller:</b> Young’s Map of the United States
    <b>Seth Kaller:</b> President Lincoln & His Most Profitable Client, the Illinois Central Railroad
    <b>Seth Kaller:</b> Lincoln Thanks Former Pro-Slavery and Newly Republican Congressman for a Fiery Anti-Slavery Speech at a Philadelphia Campaign Rally
    <b>Seth Kaller:</b> “A Visit From St. Nicholas” - great association copy inscribed by Clement C. Moore
    <b>Seth Kaller:</b> Einstein Agrees to Allow “a Short Book on the Hydrogen Bomb” to Use His Statement Made on Eleanor Roosevelt’s TV Show
    <b>Seth Kaller:</b> The Building Blocks of Albert Einstein’s Creative Mind
    <b>Seth Kaller:</b> A Unique Manuscript Map of Block Island Sound Including Fisher’s and Gardiner’s Islands, the Hamptons, and Montauk Point
    <b>Seth Kaller:</b> J.R.R. Tolkien Writes his Proofreader with a Lengthy Discussion of the Lord of the Rings, Including Criticism of Radio Broadcasts of his Work
    <b>Seth Kaller:</b> Six Benjamin Franklin Signed Receipts – Including his Earliest Obtainable Autograph — Acknowledging a Donation to the Famous Library Company He Founded, and Five Payments for His Pennsylvania Gazette
    <b>Seth Kaller:</b> Sherman Dishes on Lincoln & Thomas, Meade, Sheridan, Halleck & Grant
  • <b>Bonhams, March 9. Fine Books and Manuscripts, Including the Kennedy Years</b>
    <b>Bonhams Mar. 9:</b> BROWNING, ELIZABETH BARRETT. Autograph Manuscript Initialed ("E.B.B."), being the working notebook for the poems contained in <i>The Seraphim and Other Poems</i>. $400,000 to 600,000
    <b>Bonhams Mar. 9:</b> WILDE, OSCAR. Two leaves, pp 31-34, from the first appearance of <i>The Picture of Dorian Gray in Lippincott's Monthly Magazine for July, 1890</i>, with Wilde's autograph revisions. $40,000 to 60,000
    <b>Bonhams Mar. 9:</b> SHAKESPEARE, WILLIAM. <i>Comedies, Histories and Tragedies; Published according to the true Originall Copies. Second Impression. [THE SECOND FOLIO.]</i> $200,000 to 300,000
    <b>Bonhams, March 9. Fine Books and Manuscripts, Including the Kennedy Years</b>
    <b>Bonhams Mar. 9:</b> KENNEDY, JOHN FITZGERALD. Photograph Signed ("John F. Kennedy") and Inscribed, 8 x 10 inch gelatin silver print, of Senator Kennedy and Miss Barelli, at the swearing of the secretarial oath for Miss Barelli. $1,200 to 1,800
    <b>Bonhams Mar. 9:</b> COOPER, JAMES FENIMORE. Autograph Manuscript, being Chapter XXVII of <i>Afloat and Ashore</i>. $15,000 to 20,000
    <b>Bonhams Mar. 9:</b> IRVING, WASHINGTON. Autograph Manuscript, being Chapter 20 from Volume IV of <i>The Life of George Washington</i>. $20,000 to 30,000
    <b>Bonhams, March 9. Fine Books and Manuscripts, Including the Kennedy Years</b>
    <b>Bonhams Mar. 9:</b> VERNE, JULES. Autograph Manuscript Signed ("Jules Verne"), being the complete short story "<i>Une fantaisie de docteur Ox</i>". $100,000 to 150,000
    <b>Bonhams Mar. 9:</b> ALCHEMY. <i>[The Crowning of Nature, or Coronatio Naturae.]</i> Original alchemical manuscript on paper, ruled in red, with watermark of the arms of Schieland. $100,000 to 150,000
    <b>Bonhams Mar. 9:</b> DE JODE, CORNELUS. 1568 - 1600. <i>Quivirae Regnu, Cum Alija Versus Borea</i>. [Antwerp: Arnoldum Coninx, 1593]. $7,000 to 10,000
    <b>Bonhams, March 9. Fine Books and Manuscripts, Including the Kennedy Years</b>
    <b>Bonhams Mar. 9:</b> HOOKER, JOSEPH DALTON. <i>The Rhododendrons of Sikkim-Himalaya; Being an Account, Botanical and Geographical, of the Rhododendrons Recently Discovered in the Mountains of Eastern Himalaya</i>… $7,000 to 10,000
    <b>Bonhams Mar. 9:</b> CATLIN, GEORGE. <i>North American Indian Portfolio. Hunting scenes and amusements of the Rocky Mountains and prairies of America. From drawings and notes of the author, made during eight years' travel.</i> $20,000 to 30,000
    <b>Bonhams Mar. 9:</b> LINCOLN, ABRAHAM. HESLER, ALEXANDER. Platinum print, 8 3/4 x 6 3/4 in, of a beardless Lincoln, 1860.<br>$2,000 to 3,000
  • <b>Doyle, Apr. 26:</b> THE PAPERS OF BREVET MAJOR GENERAL JOHN GROSS BARNARD (1815-1882), Chief Engineer of the Army of the Potomac. Estimate: $75,000-100,000
    <b>Doyle, Apr. 26:</b> ALVIN LANGDON COBURN. London. With 20 photogravures by Coburn and text by Hilaire Belloc, London and New York: 1909. First edition. Est: $4,000-6,000
    <b>Doyle, Apr. 26:</b> WILLIAM FADEN, A Plan of New York Island, with part of Long Island, Staten Island & East New Jersey. London: 1776. Estimate: $5,000-8,000
    <b>Doyle, Apr. 26:</b> MAX BEERBOHM, Lord Curzon delivering an oration. Original drawing with collage. London, 1912. Est: $2,000-3,000
    <b>Doyle, Apr. 26:</b> AMERICAN REVOLUTION, Recueil des Loix Constitutives des Colonies Angloises. A Philadelphie, et se vend a Paris: Cellot & Jombert, 1778. First collected edition in French. Estimate: $500-800
    <b>Doyle, Apr. 26:</b> WILLIAM TECUMSEH SHERMAN, Confederate General Joseph Johnston's copy of Sherman's General Orders No. 65 announcing the final agreement of Surrender, 27 April 1865. Est: $4,000-6,000
    <b>Doyle, Apr. 26:</b> JOHN KEATS, Lamia, Isabella, the Eve of Saint Agnes and Other Poems. London: Taylor and Hessey, 1820. First edition of Keats’s third book.. Estimate: $5,000-7,000
    <b>Doyle, Apr. 26:</b> M. T. Cicero's Cato Major, or his discourse of Old-age: With Explanatory Notes. Philadelphia: Benjamin Franklin, 1744. Est: $5,000-8,000
    <b>Doyle, Apr. 26:</b> WINSTON S CHURCHILL, History of the English Speaking Peoples. London: Cassell, 1956-58. First editions. Est: $1,500-2,500

Rare Book Monthly

Articles - November - 2015 Issue

Booksellers Respond To RBH’s “Clearing the Backlog” Article

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A number of booksellers felt the the proposal outlined in “Clearing the Backlog” was not needed or workable.

Last month, Rare Book Hub Monthly publisher Bruce McKinney posted an article titled “Clearing the Backlog” that has drawn a lot of reaction in the bookselling world. In his piece McKinney noted that while prices at the upper tier of the book world have gotten stronger, at the lower end the market is flooded and prices are racing to the bottom. By his estimate 99% of all rare and collectible books are worth $600 or less, and of that number his educated guess was some 95% were valued at under $150. By his own estimate there were at least 3 million items that he thought would need to change hands in the next three to five years -- and he predicted “for many dealers the sun is setting.”

 

McKinney went on to suggest a new system of selling in a modified auction format that RBH would set up and which would be open to its subscribers. He proposed that starting price would be pegged at “25% of fair market value,” and once the transaction was concluded the buyer would pay the shipping. Unlike other existing services such as Amazon, Abe, Alibris or eBay it would be free to subscribers - there would be no additional commission or listing fee charged.

 

Though the comments section of the article drew positive reaction, a recent long thread on one of the bookselling list-serves produced opinions that leaned strongly in the other direction.

 

Booksellers who commented ranged from those who sold a general stock of used books to some of the better known ABAA affiliated specialists. They took issue with McKinney’s proposal for a variety of reasons.

 

Chris Volk of Bookfever.com, an established online bookseller based in Ione, Ca. was one of the first to reply: “In a sense, I could be one of the booksellers targeted by this article,” she wrote. “That is, we are primarily selling in the collectible market, and 95% of the books we sell are $150 or less - and we have a lot of books!

 

“But I still find this proposal not helpful for a couple of reasons - the first is the assumption that most booksellers feel like they need to clear out the backlog and are willing to invest a certain amount of time and energy in doing so at bargain prices."

 

Volk’s reaction was not that she needs to cut her prices but rather “what I need to do is to change my mindset that if one is good, two are better,... and to stop feeling like we need to have in inventory ‘every title’ an author wrote.”

 

She also took issue with McKinney proposal that, "Each item will have a start price and it can be no more than 25% of fair market value [as established by eBay, Abe, or auction realizations]"

 

“Most books which sell for under $150,” she said, “have few if any auction results - and how does one even begin to determine the fair market value of something offered on ABE? The range of prices for a book which might be reasonably listed at $50-100 will often be from $1 to $500 - so who is going to say that $50 is FMV, or is it $5 if an ‘unsold’ copy exists for that price?

 

“I consider virtually all of our list prices FMV … - and I figure if the tail is long enough, we should sell virtually everything for roughly a net of 75% of list (20% commissions and fees, extra 5% to account for discounts, sales, etc). It is a rare day that does not include a sale of some books listed more than 3 years ago, or even more than 5 years ago.”

 

Like others she thought, “Doing a lot of work to sell a bunch of books for 25% of FMV sooner is not very appealing - even though I realize that, if the inventory were being liquidated, getting just ten cents on the dollar overall would be doing pretty good!”

 

Laurelle Swan of Swan’s Fine Books in Walnut Creek, Ca. wrote, ….” I am a subscriber to

the auction record service that Bruce provides and am grateful to have it as one, among many, tools to use in determining price." She noted, “there are multiple avenues in place already for selling our items, be they lower or higher in the pricing scale.

 

“I would rather see us put our collective time and energy into making those avenues - including ABE, the IOBA and ABAA websites - better known. Many of our customers who ask me for help in locating an item online are only aware of eBay and Amazon, and have never heard of the current options. These customers (not the experienced collector) are the ones likely to be looking for these ‘lower-priced’ items that apparently we are all looking to sell at fire-sale prices, and these customers will not be aware of Rare Book Hub either.”

 

In her my opinion even though the RBH data base provides actual prices realized on auction transactions, “it does not provide ‘SOLD’ prices, it provides ‘AUCTION’ prices. Sold prices, in my definition,” she continued, “are the prices a bookseller realizes when he or she sells his or her book, and agrees on a price with a willing, reasonable buyer.

 

“I'm sure we have all purchased items at auction if we feel we are ‘getting a good deal’ - by definition, this means that we feel we can sell the book for more. Otherwise the auction houses would only have retail customers bidding on their lots, not booksellers. I'm also sure that many, if not most, of us tracking auctions have seen items sell for far more than we believe is fair retail price.”

 

In her view, “Auctions are all about clearing the decks, not in ascertaining a ‘fair market value’ for the wares they are selling. … Let's not consider auction prices any true indication of fair market value, ” and she was one of several to observe, “We might not like someone else telling us what a fair market value is for our books.”

 

Vic Zoschak, of Tavistock Books (ABAA) in Alameda, CA also was less than thrilled with the proposal. He commented briefly, “I am a long-time subscriber to RBH, at the Octavo level, and ‘very much’ value the information that Bruce supplies on his site. However, what others may not realize is that at this subscriber level, my inventory is also offered for sale ... on RBH. Despite a subscriber base comprised of the ‘best colleges, universities, archives, auction houses, special collections and deep pocket collectors and dealers’, I do not recall ever selling a book through RBH. Not a one. Ever.”

“Where do his clients come from,” asked Luis Porretta of Luis Porretta Fine Arts in British Columbia, “to buy these collectible books when they have not been found on eBay, Amazon and all the other listing services?” The reality is that there are fewer people buying books and more people selling books and this is a trend that has resulted in a falling turnover for most online book dealers the past fifteen years. Another venue selling books with a new plan is not going to change this reality.”

 

A Massachusetts specialist in books on science, technology and engineering who preferred not to be named thanked McKinney, “for once again creating a lively discussion, and for finding creative ways to market RBH. “But,” he asked, “don't all these basic mechanisms exist today? And in forms that we can all use, as much and as often as we want? We already have quality sites: TomFolio, Biblio, IOBA, and ABAA among others. These sites have "vetted" dealers, inventory, guarantees and descriptions.

 

“Any dealer can reduce venue pricing now (or list stock on eBay, send it to auction, offer sale lists to fellow dealers and customers, etc). Does anyone think the overhang exists simply because existing sites aren't offering material as effectively as they could?

 

“The real reason the "overhang" exists is supply has outstripped demand. One major contributing factor is the crippled traditional feeder system for new buyers and dealers (bookstores and tradeshows).

 

“The fun (and essential) part is to find new buyers. With new customers our less expensive material becomes a key resource to cultivate eager new minds. Improving the feeder system is the real fix.

 

“I would love it if a third party could do this work for me (us). But without significant levels of funding how likely is it that RBH could pull enough new, currently unknown customers into the fold solely by creating a new lower-cost venue?

 

“It is far more likely,” he thought, "that this proposal would cannibalize some of our existing sales by encouraging us to move our stock there, take away 75% of our retail price, and sell to the same buyers we already have, albeit at a better price. It really just kicks the bucket down the road a bit.”

 

His suggestions for improving the situation emphasized, “Focus on marketing, not on cost. Passive bookselling is not a strong strategy anymore.”

 

Though most of those who wrote did not think the proposal was needed or workable, there was at least one exception: Kenny Parolini of Vineland, NJ who sells online as poormansbooks.com wrote, “I make about one sale a year but it more than pays my $400 RBH fee. The listing is free with some subscriptions.”

 

To read the article “Clearing The Backlog” by Bruce McKinney that provoked these comments click here.

Rare Book Monthly

  • <b>Auction Pierre Bergé & associés in association with Sotheby’s: Important Books and Manuscripts from the Library of Jean A. Bonna from the 15th to the 20th Century. Sale on April 26, 2017. Exhibition in London March 28-30</b>
    <b>Pierre Bergé & Associés, Apr. 26:</b> Galileo, <i>Discorsi e Dimostrazioni matematiche.</i> Leyde, Elzevier, 1638. Original edition: only known copy of the first state. €700,000 – 900,000
    <b>Pierre Bergé & Associés, Apr. 26:</b> Fables illustrated by Benjamin Rabier. Paris, Tallandier, without date [ca. 1910]. Superb binding doubled in vellum decorated with painted and mosaic decors by André Mare illustrating four fables. €10,000 – 15,000
    <b>Pierre Bergé & Associés, Apr. 26:</b> Gustave Flaubert, draft for the preface of the <i>Memoir for the defense of Madame Bovary</i>, 15-30 January 1857. Exceptiona signed autograph manuscript. €40,000 – 60,000
    <b>Auction Pierre Bergé & associés in association with Sotheby’s: Important Books and Manuscripts from the Library of Jean A. Bonna from the 15th to the 20th Century. Sale on April 26, 2017. Exhibition in London March 28-30</b>
    <b>Pierre Bergé & Associés, Apr. 26:</b> Boccace, <i>The Book of Praise and the Virtue of the Noble and Cleric Ladies.</i> Verard, 1493. First edition of the French version attributed to Laurent de Premierfait. €40,000 – 60,000
    <b>Pierre Bergé & Associés, Apr. 26:</b> Exceptional set of 15 original bindings by Jean de Gonet, on rare editions illustrated by Picasso, Matisse, Miro or original editions of Bataille or Radiguet.
  • <b>Swann Auction Galleries Mar. 30: Printed & Manuscript African Americana</b>
    <b>Swann Auction Galleries Mar. 30:</b> Malcolm X, typed manuscripts for the <i>LA Herald Dispatch</i> column "God's Angry Men," 1957.<br>$200,000 to $300,000.
    <b>Swann Auction Galleries Mar. 30:</b> Frederick Douglass, Autograph Letter Signed to George Alfred Townsend, Washington, 1880.<br>$40,000 to $60,000.
    <b>Swann Auction Galleries Mar. 30:</b> Carte-de-visite album featuring a previously unrecorded image of Harriet Tubman, 1860s.<br>$20,000 to $30,000.
    <b>Swann Auction Galleries Mar. 30: Printed & Manuscript African Americana</b>
    <b>Swann Auction Galleries Mar. 30:</b> Collection of documents from the Montgomery Improvement Association, Alabama, 1955-63. $20,000 to $30,000.
    <b>Swann Auction Galleries Mar. 30:</b> Martin Luther King, Jr., working draft of the "Letter from Birmingham Jail," Alabama, 1963. $10,000 to $15,000.
    <b>Swann Auction Galleries Mar. 30:</b> <i>Benjamin Bannaker's Almanac</i> for 1795, Baltimore. $30,000 to $40,000.
    <b>Swann Auction Galleries Mar. 30: Printed & Manuscript African Americana</b>
    <b>Swann Auction Galleries Mar. 30:</b> Collection of 41 letters addressed to Rebecca Primus, 1854-72.<br>$20,000 to $30,000.
    <b>Swann Auction Galleries Mar. 30:</b> Abby Fisher, <i>What Mrs. Fisher Knows About Old Southern Cooking</i>, first edition, San Francisco, 1881.<br>$10,000 to $15,000.
    <b>Swann Auction Galleries Mar. 30:</b> Victor H. Green, <i>The Negro Motorist Green-Book for 1941</i>, New York, 1940. $8,000 to $12,000.
    <b>Swann Auction Galleries Mar. 30:</b> Toni Morrison, <i>The Bluest Eye, </i>reviewer's copy, New York, 1971. $4,000 to $6,000.
  • <b>Forum Auctions: Fine Books and Works on Paper. March 30, 2017</b>
    <b>Forum Auctions Mar. 30:</b> Potter (Beatrix). The Tale of Peter Rabbit, first edition, first issue, [1901]. Part of an extensive, private Beatrix Potter collection. £15,000 - 20,000
    <b>Forum Auctions Mar. 30:</b> Dodgson (Charles Lutwidge). The Hunting of the Snark, first edition, with original printed dust-jacket, 1876.<br>£7,000 - 9,000
    <b>Forum Auctions Mar. 30:</b> Buckland Wright (John). Pervigilium Veneris: The Vigil of Venus, number 1 of 100 copies (Christopher Sandford's copy), Golden Cockerel Press, 1939.<br>£2,000 - 3,000
    <b>Forum Auctions: Fine Books and Works on Paper. March 30, 2017</b>
    <b>Forum Auctions Mar. 30:</b> Kelmscott Press. Keats (John). The Poems, one of 300, orig. vellum, 8vo, Kelmscott Press, 1894. £1,800 - 2,200
    <b>Forum Auctions Mar. 30:</b> Greenhill (Elizabeth).- Morison (Stanley) and Kenneth Day. The Typographic Book, 1450-1935, bound in dark green goatskin by Elizabeth Greenhill, 1963. £6,000 - 8,000
    <b>Forum Auctions Mar. 30:</b> Fitzgerald (F. Scott). The Great Gatsby, first edition, first state dust-jacket, New York, 1925. £25,000 - 35,000
    <b>Forum Auctions: Fine Books and Works on Paper. March 30, 2017</b>
    <b>Forum Auctions Mar. 30:</b> Dionysius, <i>Halicarnassensis</i>. Antiquitates Romanae, Editio princeps, Treviso, Bernardinus Celerius, 24 or 25 February, 1480. £4,000 - 6,000
    <b>Forum Auctions Mar. 30:</b> Canon Law. [Laurentius Puldericus. Breviarum decreti], manuscript in Latin, on paper, [?Germany], [c. 1450].<br>£5,000 - 7,000
    <b>Forum Auctions Mar. 30:</b> Swimming. Percey (William) The Compleat Swimmer: or, the Art of Swimming, first and only edition, by J.C. for Henry Fletcher, 1658. £5,000 - 7,000
    <b>Forum Auctions: Fine Books and Works on Paper. March 30, 2017</b>
    <b>Forum Auctions Mar. 30:</b> Binding with silverwork by Anthony Nelme. The Holy Bible, containing the Old Testament and the New: : newly translated out of the original tongues, Oxford, John Baskett, 1716. £10,000 - 15,000
    <b>Forum Auctions Mar. 30:</b> George IV's copy. Nash (John, architect). The Royal Pavilion at Brighton, one of 10 copies, 1826. £8,000 - 10,000
    <b>Forum Auctions Mar. 30:</b> Blake (William, 1757-1827). "With Dreams upon my bed thou scarest me & affrightest me with Visions", 1825. £700 - 1,000

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