Rare Book Monthly

Articles - November - 2017 Issue

Shapero Rare Books Sells Half Interest in its Russian Books to Former Employee

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Pierre-Yves Guillemet at Shapero Rare Books.

Scholium Group, the publicly traded company that owns Shapero Rare Books, recently announced the sale of approximately 50% of their Russian stock to PY Limited, a company controlled by former employee Pierre-Yves Guillemet. It is a somewhat unusual deal, but a sign that Shapero is looking to reduce its exposure to Russian customers by repositioning some assets to more traditional markets.

 

Rather than selling half of their Russian books to Pierre-Yves Guillemet, Scholium sold him a 50% interest in all of their Russian stock. The cost of the books, maps, prints and other works on paper is approximately £1 million (about $1.3 million U.S. dollars). The price to Mr. Guillemet is £250,000 in cash plus a non-interest bearing note in the amount of £315,000. The note is repayable from Mr. Guillemet's share on the sale of Russian stock, with any balance still due payable in full on February 28, 2020. In the meantime, each party earns half of the gross proceeds and profits on each sale from the Russian inventory. The two parties will work together to sell the jointly owned inventory.

 

The announcement from Scholium stated that during the year ending on March 31, 2017, the Russian stock contributed £15,000 to central costs. We are not clear but imagine contributing to central costs rather than cost of goods means that amount represented the profit on sales.

 

In explaining the reason for the sale, Scholium Chairman Jasper Allen said, "We are delighted to have entered into this agreement with PY Limited, which will enable us to redeploy part of our investment in the Russian stock into more buoyant parts of our business, whilst also retaining an interest in the profits which we are confident Pierre-Yves Guillemet will earn."

 

Pierre-Yves Guillemet worked at Shapero Rare Books until breaking off on his own in August. Naturally, he brought considerable expertise in the subject of Russian books and paper. Prior to his decade at Shapero he worked at Christie's in the book department with specialization in Russian and Eastern European material.

Rare Book Monthly

  • <b>Swann Auction Galleries Mar 8:<br>Early Printed, Medical, Scientific & Travel Books</b>
    <b>Swann Auction Galleries Mar 8:</b> Caius Julius Hyginus, <i>Poeticon Astronomicon,</i> first illustrated edition, Venice, 1482. $15,000 to $20,000.
    <b>Swann Auction Galleries Mar 8:</b> Giovanni Botero, <i>Le Relationi Universali... divise in Sette Parti</i>, Venice, 1618. $3,000 to $5,000.
    <b>Swann Auction Galleries Mar 8:</b> <i>L'Escole des Filles</i>, likely third edition of the first work of pornographic fiction in French, 1676. $8,000 to $12,000.
    <b>Swann Auction Galleries Mar 8:<br>Early Printed, Medical, Scientific & Travel Books</b>
    <b>Swann Auction Galleries Mar 8:</b> Illuminated Book of Hours in Latin on vellum, Flanders, early 16th century. $6,000 to $9,000.
    <b>Swann Auction Galleries Mar 8:</b> Johannes Regiomontanus, <i>Calendarium,</i> Venice, 1485. $8,000 to $12,000.
    <b>Swann Auction Galleries Mar 8:</b> Pedro de Medina, <i>Libro d[e] gra[n]dezas y cosas memorables de España,</i> Alcalá de Henares, 1566. $3,000 to $5,000.
    <b>Swann Auction Galleries Mar 8:<br>Early Printed, Medical, Scientific & Travel Books</b>
    <b>Swann Auction Galleries Mar 8:</b><br>Luis de Lucena, <i>Arte de Ajedres,</i> Salamanca, circa 1496-97. $10,000 to $15,000.
    <b>Swann Auction Galleries Mar 8:</b> Andrés Serrano, <i>Los Siete Principes de los Ángeles, válidos de Rey del Cielo,</i> Spain, 1707. $800 to $1,200.
    <b>Swann Auction Galleries Mar 8:</b> Johannes de Sacrobosco, <i>Sphaera mundi,</i> first illustrated edition, Venice, 1478. $15,000 to $20,000.
  • <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>Leland Little: Important Spring Auction. March 3, 2018</b>
    <b>Leland Little, Mar. 3:</b> Copper Printing Plate for "Marshall's Household Engraving of Washington." $500 to $1000
    <b>Leland Little, Mar. 3:</b> Important Documentary Painting Showing Baseball Great Ty Cobb in Cuba. $1,000 to $2,000
    <b>Leland Little, Mar. 3:</b> <i>Alcoholics Anonymous Comes of Age</i>, Inscribed by Bill Wilson. $500 to $1,000
    <b>Leland Little: Important Spring Auction. March 3, 2018</b>
    <b>Leland Little, Mar. 3:</b> Joan Miró (Spanish, 1893-1983), <i>Prise à l'hameçon.</i> $3,000 to $6,000
    <b>Leland Little, Mar. 3:</b> Maurice Dufrène (French, 1876-1955), <i>Rayon des Soieries</i>. $400 to $800
    <b>Leland Little, Mar. 3:</b> William Pope.L (American, b. 1955), <i>Intimacy Project</i>. $2,000 to $4,000
  • <b>Dominic Winter, March 9:</b> Collection of 131 Herbert Ponting gelatin silver contact prints of Antartica, £6000-8000
    <b>Dominic Winter, March 9:</b> One of several lots of Henri Cartier-Bresson gelatin silver prints, £200-300
    <b>Dominic Winter, March 9:</b> Vintage gelatin silver print of Diego Rivera by Leonard McCombe, £300-500
    <b>Dominic Winter, March 9:</b> Albumen print portrait by Julia Margaret Cameron of Sir John Herschel (April, 1867), £30,000-50,000
    <b>Dominic Winter, March 9:</b> Albumen print by Julia Margaret Cameron, Love, 1864 (from the Norman album), £1000-1500
    <b>Dominic Winter, March 9:</b> Albumen print by Lewis Carroll of Twyford School Eleven (Summer Term, 1859), £1000-1500
    <b>Dominic Winter, March 9:</b> Albumen print portrait by Lewis Carroll of Xie Kitchin as 'Dane' (Oxford, 1873), £500-800
    <b>Dominic Winter, March 9:</b> Calotype print (c1845) by Hill & Adamson of Lady Elizabeth (Rigby) Eastlake, £3000-4000
    <b>Dominic Winter, March 9:</b> Group of 12 waxed paper negatives of Scottish scenes by Thomas Keith, mid-1850s, £3000-5000
    <b>Dominic Winter, March 9:</b> One of 15 lots of Roger Fenton salt prints of his work in the Crimea, mid-1850s, £400-600
    <b>Dominic Winter, March 9:</b> Quarter plate ambrotype (c.1860s) with ethnographic portrait of a woman seated at a table, £400-600
    <b>Dominic Winter, March 9:</b> Rare whole plate thermoplastic union case of the Landing of Columbus (c.1858),part of the John Hannavy collection, £1500-2000
  • <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>

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