Rare Book Monthly

Articles - March - 2017 Issue

An Auctioneer's Lot

9d6d242d-0f95-4d92-9514-aeafe614bb1c

In the Bay Area recently for the ABAA’s west coast show I met with Rupert Powell, Vice Chairman of Forum Auctions, and suggested he tell us his story, that is, his career in the book auction field and his sense of what the future holds for rare books, manuscripts, maps and ephemera.  What now follows is that story followed by his impression about what’s ahead.  It of course helps that he is bright and entertaining.  Here goes.

  

An auctioneer’s lot

 

Rupert Powell, Deputy Chairman and Head of Books, Forum Auctions, London

 

It was John Maggs (kind and very eccentric) who really gave me my first entrée into the rare book auction world. I graduated with a degree in French and German in the summer of 1985 and wrote to both Maggs and Quaritch asking for help/employment. Quaritch did not reply but John Maggs gave up an afternoon for a chat in his office in Berkeley Square and, whilst he could not offer me a position, suggested I wrote to a fledgling company who had recently opened for business in new premises, Bloomsbury Book Auctions. My letter to BBA arrived at the same time as they were offered a consignment of 18th century French astronomical manuscripts and, noticing my supposed language skills, they asked me up to London for an interview. After meeting Frank Herrmann and Lord John Kerr for no more than 30 minutes I returned to my home in Dorset with the entire consignment of manuscripts to work on over the next few weeks; their trust in me was remarkable (how did the insurance cover work, I now wonder?) but I must have done a reasonable job of cataloguing the collection because I was offered the position of junior cataloguer and started work a month later, remaining employed by them for the next 31 years. The astronomical manuscripts were due to appear at auction in November so a month before the sale we sent a copy of the catalogue to the French Royal Observatory in Paris, believing they should/would be interested in bidding. Almost by return they informed us that the collection had been stolen and that we should stop the sale; lawyers’ letters were exchanged and on the morning of the sale we received a fax (remember those?) from Interpol demanding that we withdraw every lot. It then took 10 years for the Observatory to drop their claim and to agree that the consignor had good title – with a hint of irony, it was Quaritch who eventually helped us negotiate the sale of the bulk of the collection for somewhere in the region of £100,000.

 

Bloomsbury was a truly wonderful place for me to learn, hands on, every aspect of auctioneering. I took my first auction – by candlelight because of a power-cut – in 1988 with no formal training, but having closely observed how Lord John and David Stagg brilliantly conducted sales. I was at one time or another: porter, cataloguer, administrator, press officer, marketing and database manager, business-getter, and accountant.  In the middle of a six-month “sabbatical” quenching my wanderlust travelling alone through Australia, New Zealand, USA and Canada in 1990; I was contacted by Frank Herrmann (I was in a bar celebrating with tequila shots after bungee jumping in Queenstown, NZ) offering me an associate-directorship. I became MD in 1996; helped negotiate the deal to sell the company to Bernard Shapero’s Stocklight Ltd in 2000; moved the business in 2004 to newly-refurbished offices in the heart of Mayfair; increased turnover from c.£2m in 2000 to c.£20m in 2008. After the global economic meltdown of 2008 and suffering our own financial squeeze, Bloomsbury joined forces with Dreweatt’s, at the time the UK’s largest regional fine art auction house. Under the driving stewardship of Stephan Ludwig (ex-Credit Suisse) we recovered to become not only very profitable but also an attractive company to be acquired by Noble Investments (owners of Baldwin’s, the coins and medals specialists); and then in 2013 Noble was duly bought by the Stanley Gibbons group. Bloomsbury/Dreweatt’s (“Interiors” division) remained a well-respected and profitable business with experienced and motivated, happy staff, delivering over £1m profit for 3 years in a row. Unfortunately Stephan Ludwig reached an irresolvable impasse with Stanley Gibbons on maintaining management and financial autonomy of the Interiors division and he left in August 2015. The following March, after several profit warnings to the City and with the Stanley Gibbons’ share price having fallen off a cliff, as Deputy Chairman I decided to leave the company I had helped build and nurture through thick and thin. Tough decision.

 

After over 3 months of gardening leave, adhering to strict non-compete and non-solicitation terms, I was asked by Stephan to join his new start-up company, Forum Auctions. I leapt at the chance; not only to work with Stephan (who has the sharpest business brains I have ever met) again, but also, to my delight, to be reunited with over a dozen ex-Bloomsbury colleagues who had likewise left and, through recruitment agents, been persuaded to join Forum. I started work again on 1 July, less than 2 weeks before our inaugural sale. That sale, put together in 3 months, grossed over £1.1m ($1.4m); in over 30 years at Bloomsbury we only ever had two sales that totaled more. The momentum behind Forum continued and after 6 months we had hammered in excess of £3.5m, achieved a “white-glove” sale (where every lot sells and, according to a 19th century tradition, the auctioneer is presented with a pair of white gloves), a number of world records, and opened a jewelry and watches department.

 

Forum’s business model is simple: we recognize the extraordinary technological advances over the last decade or so and how that has impacted on the auction world, particularly with regard to online bidding; but simultaneously we fully appreciate the importance of “traditional” auctions and how an older generation of collectors and dealers still enjoy the “theatre” of a live-action auction event. By fusing the two, Forum aims to appeal to both types of clientele; this is further enhanced by our willingness to continue to offer the entire range of printed and graphic material (both in terms of subject matter and value); by our adherence to high levels of cataloguing skills and bibliographic accuracy, as well as high quality photography and catalogue production; by our excellent client-services (recognizing that the customer is, we hope, there for a long-term relationship, not just a one-off transaction); and finally, from which all the above flow more easily, by employing staff who are knowledgeable (but always learning), passionate, vastly experienced but greatly enthused by what they do and, above all, happy with their colleagues and environment. As a final incentive to deliver the optimum for the company, every member of staff owns a stake and thus has a vested financial interest in all we do. Stephan has taken the core staff and values of old Bloomsbury and created a new, vibrant and financially sound 21st century auction house specializing in Books and Works on Paper…

 

…And this is surely where the rare book world is heading. Online pricing transparency has dealt a body blow to the retail sector. There is also an entire generation of consumers who have been brought up with eBay – showcasing the ease and “fairness” of the auction process. With all auction houses now able to readily offer their consignments to private end-users, and with those end-users now familiar and at ease with transacting by auction (a method which only 30 years ago still had a certain mystique and fear surrounding it), why would buyers pay a full retail price for something? Those traditionally distinctive lines between a dealer and an auctioneer are becoming ever more synthetic – there are now many examples of dealers operating an auction arm and, vice-versa, auctioneers selling by alternative methods such as private treaty. The future for auction houses looks comparatively positive, whereas dealers must surely be wondering how to maintain their capital-intensive stock-based selling model. Forum’s slick, clean and user-friendly online bidding site; their reach into the private and institutional sectors; and their ability to offer clients easy and non-onerous financing terms (n.b. their tie-up with peer-to-peer lender Unbolted) put them well on the way to creating a truly “one-stop shop” for buying and selling rare books and works on paper.     

 

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.

Article Search

Archived Articles

Ask Questions