Rare Book Monthly

Articles - March - 2016 Issue

Is Amazon Opening 300-400 Retail Bookstores?

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GGP offers a "retraction," sort of...

Is Amazon really going to open 300-400 bookstores? Isn't Amazon's success based on not having to pay the costs of physical stores, allowing them to undercut everyone else on price? Late last year, Amazon did open a bookstore in its home city of Seattle. No specific reasons were given, and it is probably too early for them to have reached long-range certainty as to its success. Is this rumor accurate or just another rumor?

 

Here is how it came about. The speculation started from an offhand remark by the CEO of a company that owns and manages real estate, shopping malls in particular. During the Q&A of a quarterly session with stock analysts, General Growth Properties CEO Sandeep Mathrani was talking about holiday mall traffic and how retail stores facilitate returns when he blurted this out: "...you've got Amazon opening bricks and mortar bookstores and their goal is to open as I understand 300 to 400 bookstores..." No one had ever heard such a number before. Amazon has one bookstore, and help wanted listings in the San Diego area imply they may be looking to open a second, but it is a long way from 2 to 300-400. Amazon has been tight-lipped in its plans, and such a comment from someone else might not have caused such a stir. However, Mr. Mathrani runs a company that leases space in shopping malls. Presumably, he knows more about retail plans than the rest of us. Where did he get his "understanding?"

 

After all the fuss he created, Mr. Mathrani quickly issued a retraction. Or did he? The company issued a press release the following day stating, "General Growth Properties, Inc. Chief Executive Officer Sandeep Mathrani has indicated that a statement he made concerning Amazon during GGP's earnings conference call held on February 2, 2016, was not intended to represent Amazon's plans." Note the wording. He did not say his statement did not represent Amazon's plans. Instead, he only said it was not intended to represent Amazon's plans. That is hardly a denial. Clearly, his intention was to convince stock analysts and investors that things are going well with the company's store leasing business. Amazon was simply an illustration to support that intention. This does not mean that Amazon is going to open stores or that his "understanding" is correct. It more sounds like Mr. Mathrani still expects Amazon to open a bunch of stores, but he is trying to walk back his public announcement of that expectation, which probably did not please the executives at Amazon who like to keep their plans private.

 

The question remains, if the rumor is true, why is Amazon doing this? Amazon totally rearranged the bookselling business, at least when it comes to new books, two decades ago when it began selling books online for discount prices. They would throw another wrench in that business when they pioneered sales of electronic books and readers. Their influence was not as great with older books, particularly collectible ones, as stocking items that may be one-of-a-kind, have a slow turnover rate, and can't be bought from the manufacturer, is not a model for a business that thrives on low margins and high volumes. However, they did begin selling books on behalf of independent dealers, and half a dozen years ago bought the largest cooperative bookselling site, AbeBooks.

 

Meantime, Amazon expanded from being the largest bookseller to being the largest online seller of practically every product known to man. So, perhaps the plan is to become the largest bricks and mortar retailer too. Who knows? Maybe they will destroy Walmart the way they destroyed many other retailers. The good news is, the nature of the collectible book trade makes it such that those in the rare book business will not be battered the way Barnes and Noble and Borders were. Rare books just aren't a high volume, mass market item. Meanwhile, it's nice to note a valuable lesson from Amazon's journey – if you are a bookseller, the sky's the limit!

Rare Book Monthly

  • <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2018</b>
    <b>Forum Auctions, Sep. 27:</b> Cartwright (George). <i>A Journal of Transactions and Events, during a Residence of nearly Sixteen Years on the Coast of Labrador...,</i> first edition, with A.L.s. from the author, 1792. £4,000 to £6,000
    <b>Forum Auctions, Sep. 27:</b> Swift (Jonathan). <i>Travels into Several Remote Nations of the World,</i> 2 vol., first edition, Teerink's "A" edition, Printed for Benj. Motte, 1726. £15,000 to £20,000
    <b>Forum Auctions, Sep. 27:</b> Fourier (Jean Baptiste Joseph). <i>Theorie Analytique de la Chaleur,</i> first edition, Paris, chez Firmin Didot, 1822. £6,000 to £8,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2018</b>
    <b>Forum Auctions, Sep. 27:</b> Boccaccio (Giovanni). <i>Genealogiae Deorum,</i> additions by Dominicus Silvester and Raphael Zovenzonius, Venice, Vindelinus de Spira, 1472. £10,000 to £15,000
    <b>Forum Auctions, Sep. 27:</b> Mary I. Letter signed at the head "Marye the Quene" to Lord Paget, 1 page, 7th June 1556. The recall from exile of nine persons opposed to the Marian regime. £10,000 to £12,000
    <b>Forum Auctions, Sep. 27:</b> Nelson (Horatio). Autograph Letter signed "Horatio Nelson" and written to Francis Drake, British Minister at Genoa, discussing the disposition of his "Cruizers" near Genoa. £6,000 to £8,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2018</b>
    <b>Forum Auctions, Sep. 27:</b> Darwin (Charles). Unpublished Autograph Letter signed to Walter Raleigh Browne, playing down his scientific knowledge of comparative anatomy, 1881. £6,000 to £8,000
    <b>Forum Auctions, Sep. 27:</b> Murphew (J.). <i>The fair in an uproar, or, the dancing-doggs.</i> As they perform in Mr. Pinkeman's New Opera in Bartholomew Fair, 1707. £1,500 to £2,000
    <b>Forum Auctions, Sep. 27:</b> Chaucer (Geoffrey). <i>The Workes,</i> by [Nicholas Hill for] Thomas Petit, dwellyng in Paules churche yarde at the sygne of the Maydens heed, 1550. £7,000 to £10,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2018</b>
    <b>Forum Auctions, Sep. 27:</b> Austen (Jane). <i>Emma: A Novel,</i> 3 vol., first edition, 1816. £7,000 to £10,000
    <b>Forum Auctions, Sep. 27:</b> Greene (Graham). <i>Stamboul Train,</i> first edition, first issue, 1932. £8,000 to £12,000
    <b>Forum Auctions, Sep. 27:</b> Churchill.- Fearon (Percy Hutton) "Poy". “Eat More Beef,” pen and ink cartoon with shading in blue pencil, [July 1928]. £400 to £600
  • <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>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Shackleton, Ernest. <i>Aurora Australis.</i> Printed at the sign of 'The Penguins'; East Antarctica, 1908. $70,000 to $100,000
    <b>Bonhams, Sep. 25:</b> Shackleton, Ernest. <i>South Polar Times.</i> 1st edition, limited issue. from the library of Michael Barne. $20,000 to $30,000
    <b>Bonhams, Sep. 25:</b> General Washington's <i>Proceedings of a General Court Martial... of Major General Lee.</i> Philiadelphia, 1778. 100 copies printed for Congress. BOUND WITH: ...Court Martial... of St Clair and ...Schuyler. $25,000 to $35,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> <i>The Voice of the People.</i> Boston, 1754. Rare pamphlet on the Excise Tax. Nathaniel Sparhawk's copy. $4,000 to $6,000
    <b>Bonhams, Sep. 25:</b> Autograph Letter Signed ("S.L. Clemens"), offering extensive hard-earned advice on writing, 5 pp, 1881. $30,000 to $50,000
    <b>Bonhams, Sep. 25:</b> After Fra Egnazio Danti. <i>L'Ultime Parti not:e nel Indie Occid:ntli" [The last known parts of the Western Indies].</i> Painted Map of California, Western Mexico, and Japan. $70,000 to $100,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Ptolemaeus, Claudius. <i>Geographie opus nouissima...</i> 1513. The most important edition of Ptolemy, containing the Admiral's Map. $250,000 to $350,000
    <b>Bonhams, Sep. 25:</b> De Arellano, Don Alonso. Manuscript, his <i>"Relación mui singular y circunstanciada... Capitán del Patax San Lucas,"</i> manuscript copy from the Sir Thomas Phillips collection. $50,000 to $80,000
    <b>Bonhams, Sep. 25:</b> Purchas, Samuel. <i>Purchas his Pilgrimes.</i> First edition. With John Simth's engraved map of Virginia. $70,000 to $100,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Lewis, Meriwether. Contemporary manuscript true copy of his final power of attorney, 1809. $8,000 to $12,000
    <b>Bonhams, Sep. 25:</b> <i>A New Method of Macarony Making, as Practiced at Boston in North America.</i> Mezzotint. London, 1774. $5,000 to $7,000
    <b>Bonhams, Sep. 25:</b> <i>Scientific Base Ball Pitching: A Treatise on the Pitcher, Pitching, Origin and Philosophy of the Curve.</i> Chicago, 1897. $2,000 to $3,000
  • <center><b>Bibliothèque R. & B. L. VII :<br>XIXe siècle (1840–1898)<br>First editions – Reviews – Autograph letters and manuscripts<br>Auction in association with Binoche & Giquello on October 9th.</b></center>
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> LAUTRÉAMONT. <i>Les Chants de Maldoror.</i> 1869. First edition, unbound, one of the rare copies dated 1869. €100 000 to €150 000
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> PAUL VERLAINE. Poème saturnien. March 31st -June 1st, 1885. Autograph poem signed and illustrated. €12 000 to €15 000
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> STÉPHANE MALLARMÉ. <i>L’Après-midi d’un faune.</i> 1876. Inscribed to Paul Gauguin. €30 000 to €40 000
    <center><b>Bibliothèque R. & B. L. VII :<br>XIXe siècle (1840–1898)<br>First editions – Reviews – Autograph letters and manuscripts<br>Auction in association with Binoche & Giquello on October 9th.</b></center>
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> CHARLES BAUDELAIRE. <i>[La Cloche fêlée,</i> 1851–1855.] Signed autograph manuscript of one of the poems of Les Fleurs du mal. €25 000 to<br>€35 000
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> STÉPHANE MALLARMÉ. <i>Le Tombeau d’Edgar Poe.</i> Circa 1889. Signed autograph manuscript inscribed to Edmund Gosse. €40 000 to €60 000
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> GÉRARD DE NERVAL. Manuscrit autographe. 1855. Rare manuscript fragment of Aurelia with corrections. €20 000 to €30 000
    <center><b>Bibliothèque R. & B. L. VII :<br>XIXe siècle (1840–1898)<br>First editions – Reviews – Autograph letters and manuscripts<br>Auction in association with Binoche & Giquello on October 9th.</b></center>
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> PAUL VERLAINE. <i>La Bonne chanson.</i> 1870. First edition. One of 20 copies on Hollande paper in a mosaic binding by Noulhac. €15 000 to<br>€18 000
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> ARTHUR RIMBAUD. Autograph letter to his sister, July 10, 1891. One of the most beautiful letters by Rimbaud, about his last moments, illustrated with drawings of his leg. €80 000 to €100 000
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> GUSTAVE FLAUBERT. <i>Salammbô.</i> 1863. First edition. One of 25 copies on Hollande paper, this one inscribed to Théophile Gautier. €30 000 to<br>€40 000
    <center><b>Bibliothèque R. & B. L. VII :<br>XIXe siècle (1840–1898)<br>First editions – Reviews – Autograph letters and manuscripts<br>Auction in association with Binoche & Giquello on October 9th.</b></center>
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> CHARLES BAUDELAIRE. <i>Les Fleurs du mal</i>. 1857. First edition, unbound.<br>€15 000 to €20 000
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> CHARLES BAUDELAIRE. Barbey d’Aurevilly caricature. Original drawing (208 x 130 mm). 1865.<br>€20 000 to €30 000
    <b>Bibliothèque R. & B. L. VII, Oct. 9:</b> OSCAR WILDE. <i>The Ballad of Reading Goal by C.3.3.</i> 1898 First edition, publisher’s binding, one of 30 on Japan paper. €10 000 to €12 000
  • <b>Swann Auction Galleries Sep 27:</b> Franklin H. Brown, <i>State Sovereignty, National Union,</i> Chicago, 1860. $6,000 to $9,000.
    <b>Swann Auction Galleries Sep 27:</b> Thomas Paine, <i>The American Crisis,</i> Fishkill, NY, December 1776. $25,000 to $35,000.
    <b>Swann Auction Galleries Sep 27:</b><br>The Aitken Bible, Philadelphia, 1781. $20,000 to $30,000.
    <b>Swann Auction Galleries Sep 27:</b> Francisco Loubayssin de Lamarca, probable first edition of the first novel set in the Spanish New World, Paris, 1617. $15,000 to $25,000.
    <b>Swann Auction Galleries Sep 27:</b> Juan de la Anunciación, <i>Sermonario en lengua mexicana,</i> first edition, first book of sermons in Nahuatl, Mexico, 1577. $30,000 to $40,000.
    <b>Swann Auction Galleries Sep 27:</b> Maturino Gilberti, <i>Thesoro spiritual en lengua de Mechuacá,</i> first edition, Mexico, 1558. $15,000 to $25,000.
    <b>Swann Auction Galleries Sep 27:</b> Commission of William O. Stoddard as secretary to the president, signed by Lincoln, Washington, 1861. $7,000 to $10,000.
    <b>Swann Auction Galleries Sep 27:</b> <i>Clay and Frelinghuysen,</i> flag banner, circa 1844. $8,000 to $12,000.
    <b>Swann Auction Galleries Sep 27:</b> Daguerreotype of a man believed to be Frederick Granger Williams Smith, son of Joseph Smith, circa late 1850s. $10,000 to $15,000.
    <b>Swann Auction Galleries Sep 27:</b> John C. Wolfe, <i>Portrait of Abraham Lincoln,</i> oil on board in period wooden frame, circa 1860s. $12,000 to $18,000.
    <b>Swann Auction Galleries Sep 27:</b> Francis W. Winton, manuscript on pow-wows with indigenous Canadians, 1881. $15,000 to $25,000.
    <b>Swann Auction Galleries Sep 27:</b> Family letters from two young daguerreotype artists, 1826-79. $10,000 to $15,000.

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