• <b>Swann Auction Galleries May 26: Maps & Atlases, Natural History & Color Plate Books.</b>
    <b>Swann Auction Galleries May 26:</b> Isaak de Graaf, manuscript map of Java, ink & watercolor on vellum, 1743. $180,000 to $220,000.
    <b>Swann Auction Galleries May 26:</b> Maria Sibylla Merian, <i>Histoire générale des insectes de Surinam</i>,<br>72 hand-colored plates, Paris, 1771. $60,000 to $90,000.
    <b>Swann Auction Galleries May 26:</b> James Gillray, <i>The Plumb-pudding<br>in danger</i>, hand-colored etching, London, 1805. $8,000 to $12,000.
    <b>Swann Auction Galleries May 26: Maps & Atlases, Natural History & Color Plate Books.</b>
    <b>Swann Auction Galleries May 26:</b> Visscher, Composite atlas with 73 maps in original hand-color in full, Amsterdam, after 1716.<br>$20,000 to $30,000.
    <b>Swann Auction Galleries May 26:</b> Mahmud Raif Efendi, <i>Cedid atlas tercümesi</i>, 25 hand-colored maps, Istanbul, 1803-1804.<br>$40,000 to $60,000.
    <b>Swann Auction Galleries May 26:</b> John James Audubon, <i>The Birds of America</i>, 7 volumes, 1839-44. $30,000 to $50,000.
    <b>Swann Auction Galleries May 26: Maps & Atlases, Natural History & Color Plate Books.</b>
    <b>Swann Auction Galleries May 26:</b><br>A.B. Frost, <i>Shooting Pictures</i>, 12 chromolithographs, New York, 1895. $4,000 to $6,000.
    <b>Swann Auction Galleries May 26:</b> John Senex, <i>A New General Atlas</i>,<br>33 engraved maps & town plans, London, 1721. $10,000 to $15,000.
    <b>Swann Auction Galleries May 26:</b> Elihu Barker & Mathew Carey, <i>A Map of Kentucky from Actual Survey</i>, Philadelphia, circa 1794.<br>$10,000 to $15,000.
  • <b>19th Century Shop.</b> DARWIN, CHARLES. Iconic signed Darwin photograph "I like this photograph much better than any other which ..."
    <b>19th Century Shop.</b> DARWIN, CHARLES. <i>Autograph Letter Signed</i>. Early Unpublished Darwin letter on the races of man.
    <b>19th Century Shop.</b> WRIGHT, WILBUR. Experiments and Observations in Soaring Flight. Journal of the Western Society of Engineers 8, no. 4 (August, 1903).
    <b>19th Century Shop.</b> EINSTEIN, ALBERT. <i>The Meaning of Relativity.</i> FIRST EDITION IN ENGLISH. Signed and dated Oxford 1931.
    <b>19th Century Shop.</b> GARDNER, ALEXANDER. Antietam Bridge, Maryland. "One of the memorable spots in the history of the war."
  • <b>Skinner Fine Books & Manuscripts <i>online</i> | May 18-26 | skinnerinc.com</b>
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1051: Keller, Helen (1880-1968) Autograph Letter Signed and Cabinet Card, est. $3,000-5,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1108: Washington, George (1732-1799) Military Discharge Signed, Headquarters, Newburgh, New York, 7 June 1783, est. $7,000-9,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1131: Bayes, Jessie (1876-1970) Illuminated Manuscript, <i>Six Poems from Gitanjali by Rabindranath Tagore</i>. London, 1917, est. $15,000-17,000
    <b>Skinner Fine Books & Manuscripts <i>online</i> | May 18-26 | skinnerinc.com</b>
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1144: Darwin, Charles (1809-1882) <i>On the Origin of Species by Means of Natural Selection, or the Preservation of Favoured Races in the Struggle for Life</i>. London: Murray, 1859, est. $60,000-80,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1170: Fossati, Giorgio (1706-1778) <i>Raccolta di Varie Favole Delineate, ed Incise in Rame</i>. Venice: Carlo Pecora, 1744, est. $5,000-7,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1224: Nielsen, Kay (1886-1957) <i>East of the Sun and West of the Moon, Old Tales from the North</i>. London: Hodder & Stoughton, 1914,<br> est. $5,000-7,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1284: Audubon, John James (1785-1851) <i>American Flamingo</i>. [from] <i>The Birds of America</i>, New York: Bien, 1860, est. $10,000-15,000
  • <b>Bonhams Fine Books and Manuscripts, 8 June 2016, New York</b>
    <b>Bonhams June 8:</b> Lot 1. ARISTOTLE. 384-322 B.C.E. De animalibus [De historia animalium. De partibus animalium. De generatione animalium.] US$ 300,000-500,000.
    <b>Bonhams June 8:</b> Lot 44. ARIOSTO, LUDOVICO. 1474-1533. Orlando Furioso in English Heroical Verse, by John Haringto[n]. [London: Richard Field, 1591.] US$ 70,000-90,000.
    <b>Bonhams June 8:</b> Lot 183. HARRISON, William Henry. Document Signed AS PRESIDENT ("W.H. Harrison"). US$ 40,000-60,000.
    <b>Bonhams June 8:</b> Lot 116. <br>ALI, MUHAMMAD. B.1942. U.S. Passport Signed ("Muhammad Ali") Twice, [Dublin, July 19, 1972].<br>US$ 25,000-35,000.
    <b>Bonhams June 8:</b> Lot 52. Bible In English. [Mearne, Samuel, binder.] The Holy Bible containing the bookes of the Old & New Testament. US$ 25,000-35,000.
    <b>Bonhams June 8:</b> Lot 130. EARHART, Amelia. 1897-1937. Archive of material on the purchase and outfitting of Earhart's Lockheed Electra 10e. US$ 15,000-20,000.
    <b>Bonhams June 8:</b> Lot 85. BURTON, Virginia Lee. 1909-1968. The Little House. Boston: Houghton Mifflin, 1942. US$ 15,000-20,000.
    <b>Bonhams London June 15.</b> Lot 68. CAMERON (Julia Margaret) Kate Keown [No. 5 Of Series of Twelve Lifesized Heads], [1866]. <br>£30,000-50,000.
    <b>Bonhams London June 15.</b> Lot 98. Karl Marx. Das Kapital. Kritik der politischen Oekonomie... Erster Band, FIRST EDITION, 1867.<br>£80,000-120,000.
    <b>Bonhams London June 15.</b> Lot 111. Isaac Newton Autograph manuscript, in English, headed "The Question stated about abstaining from blood". £50,000-70,000.
    <b>Bonhams London June 15.</b> Lot 112. Nobel Prize for discovering isotopes in stable elements, awarded to F.W. Aston in 1922. £200,000-400,000.
    <b>Bonhams London June 15.</b> Lot 140. Kay Nielsen (Prince Bismarck discovering the soldier), 1913. £15,000-20,000.

Rare Book Monthly

Articles - May - 2005 Issue

Converting Old Prices To Current Value&#58; Finally A Tool

A0501

Want to see what has really happened to the value of this book? Read on.


By Michael Stillman

Figuring out the value of a book is probably the most vexing issue facing booksellers and collectors alike. Not that there is any lack of data. Books have been auctioned in the open market for over three centuries. Knowledgeable booksellers have been placing prices on them for at least that long. There is an enormous wealth of information. The problem is that many of these valuations are old. How can we use this enormous body of pricing data when the ravages of inflation and changing taste have made them seemingly meaningless?

The answer is to convert these old prices into current values. We need a scale, something akin to what the Consumer Price Index does for a loaf of bread. Such a scale could translate the price a bookseller or auction placed on that book years ago into today's dollars. It would bring those old prices up to date. Now updated prices would not necessarily establish current value. Some books will have appreciated more than others in the intervening years. Nevertheless, it would tell you on average what that old price equals today. It will tell you the value that bookseller or auction placed on your book. In a world where accurate pricing information is very hard to find, this would be a major step.

At the AE, we have been compiling an enormous database (the AE Bibliographic Database) of priced records, primarily from auctions and top booksellers of many generations. Now approaching a million strong, and growing rapidly by the day, these records give us a unique window into book pricing over the past century. Now we have sorted and selected through these reams of data to generate a scale that reflects the yearly trends in book pricing. So far, the scale takes us back to 1914, but in time it will go even farther. Once the scale was created, it became possible to apply it back to each individual record to determine what that old price means in terms of today's dollars. "Book dollars," if you will, for this scale is based not on the price of bread but on the price of books. It is, so to speak, the Consumer Price Index of books.

As we noted, not all updated prices will reflect current values because of differing rates of appreciation. However, this brings us to a second, and maybe even more important use for these updated prices. The ability to convert old prices into current values will tell you how fast a book is appreciating relative to other books, which is just a polite way of saying whether it has been a good or a poor investment. Think about that. If a book sold for $100 fifty years ago, and sold for $200 yesterday, it's been a terrible investment. Most books have far more than doubled in fifty years. But, if that book sold for the equivalent of $100 in today's "book dollars" fifty years ago, and $200 today, that is a book which is appreciating at twice the normal rate. Converting old prices to current values enables you to see which books are good investments, which are not so good. Now, if your interest in books is strictly for the pleasure they bring you, then you need read no further. If at least part of your motivation in buying books revolves around money, then please continue.

Rare Book Monthly

  • <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 552. Zoologie. Merian, Maria Sibylla. De Europische insecten ... Estimate 32000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 32. (Horae beatae maria virginis.)-(Hours for use of Paris) presented a lusaige hours of Paris. Gedrucktes Stundenbuch auf Pergament. Estimate 10000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 15. Inkunabeln. Curtius Rufus, Quintus. Third known edition.<br>Estimate 7000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 145. Atlanten - China. Philippe Vandermaelen. Atlas Universel de Géographie Physique, Politique, Statistique et Minéralogique. Estimate 6000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 144. Atlanten. Seutter, Matthäus. Nordenskiöld 283. Phillips 3494. Estimate 4500 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 864. Mulinari, Stefano. Disegni originali d'eccellenti pittori esistenti nella Real Galleria ... <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 864. Mulinari, Stefano. Disegni originali d'eccellenti pittori e
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 29. Reisch, Gregor. Margarita philosophica (with a (m ) addition new timber. Estimate 3000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 37. Antiphonar. Proprium Officium Defuntoru. Ad versperas. Ana. Estimate 2500 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 11. Einbände. Fünf Werke der lateinischen Klassik. Amsterdam, Blaeu 1630-1632. Estimate 1800 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 87. Zirardini, Gaetano Conte. Comparazione fra le luminose gesta dell'imperatore Carlo V. con quelle dell'imperatore Francesco I. d'Austria. Estimate 1500 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 432. Fische. Couch, Jonathan. A history of the fishes of the British Islands. 4 Bde. Mit 252 handkolor. Estimate 1200 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 950. Arp, Hans. Mondsand. Gedichte. Mit 7 Original-Radierungen von Hans Arp. Estimate 1200 €.
  • <b>Seth Kaller:</b> Leaves from<br>George Washington's Own Draft <br>of His first Inaugural Address. An Extraordinary Rarity!
    <b>Seth Kaller:</b> Declaration of Independence: Benjamin Tyler 1818 - First Print with Facsimile Signatures.
    <b>Seth Kaller:</b> Thomas Jefferson Signed Act of Contress Authorizing Alexander Hamilton to Complete Famous Portland Maine Lighthouse.
    <b>Seth Kaller:</b> Emanuel Leutze. Silk Flag Banner designed by Leutze, created by Tiffany & Co., and presented to Gen. John A. Dix, 1864.
    <b>Seth Kaller:</b> The "greatest of early American maps … a masterpiece" (Corcoran). Thomas Holme.
    <b>Seth Kaller:</b> Lincoln Summons His Cabinet for a Historic Meeting to Discuss Compensated Emancipation.
    <b>Seth Kaller:</b> Albert Einstein. Autograph Letter Signed. Einstein Counsels His Son ... Meaning of Life.
    <b>Seth Kaller:</b> Normal Rockwell. Painting/Drawing Signed. Rockwell's "Barbeshop Quartet", 1936.
    <b>Seth Kaller:</b> Frederick Douglass. Autograph Letter Signed to unknown correspondent. Washington, D.C.
    <b>Seth Kaller:</b> Harry Truman. Autograph Manuscript Notebook for Kansas City Law School Night Class.
    <b>Seth Kaller:</b> Robert E. Lee. Autograph Letter Signed, June 11, 1782. Hours after the Battle of Culpeper Court House, Lee Escapes Again.
    <b>Seth Kaller:</b> George Washington. Letter Signed, as Commander-in-Chief, Continental Army, to Elias Dayton, Headquarters, [Newburgh, N.Y.], June 11, 1782.

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