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>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
  • <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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