• <b>Swann Auction Galleries Oct 18: Early Printed, Medical, Scientific & Travel Books</b>
    <b>Swann Auction Galleries Oct 18:</b><br>Euclid, <i>Elementa geometriae,</i> first edition, Venice, 1482. $60,000 to $80,000.
    <b>Swann Auction Galleries Oct 18:</b><br>Sir Isaac Newton, <i>Opticks,</i> first edition, London, 1704. $15,000 to $25,000.
    <b>Swann Auction Galleries Oct 18:</b><br>Jean-Baptiste du Halde, S.J., <i>Description... de l'Empire de la Chine,</i> first edition, Paris, 1735. $15,000 to $20,000.
    <b>Swann Auction Galleries Oct 18: Early Printed, Medical, Scientific & Travel Books</b>
    <b>Swann Auction Galleries Oct 18:</b><br>Werner Rolewinck, <i>Dat boek dat men hiet Fasciculus temporum,</i> first edition in Dutch, Utrecht, 1480. $8,000 to $12,000.
    <b>Swann Auction Galleries Oct 18:</b><br>Eckenstein and Lorria, <i>The Alpine Portfolio,</i> first edition, London, 1889. $2,500 to $3,500.
    <b>Swann Auction Galleries Oct 18:</b><br>Johann Theodor & Johann Israel de Bry, <i>Pars quarta Indiae orientalis,</i> first edition, Frankfurt am Main, 1601. $1,500 to $2,000.
    <b>Swann Auction Galleries Oct 18: Early Printed, Medical, Scientific & Travel Books</b>
    <b>Swann Auction Galleries Oct 18:</b><br>Charles Darwin, <i>The Descent of Man,</i> first edition, London, 1871. $2,000 to $3,000.
    <b>Swann Auction Galleries Oct 18:</b><br>Jonathan Swift, <i>Travels into Several Remote Nations of the World,</i> first edition, London, 1726. $3,000 to $5,000.
    <b>Swann Auction Galleries Oct 18:</b><br>Rodrigo Zamorano, <i>Compendio del Arte de Navegar,</i> Seville, 1588. $20,000 to $25,000.
    <b>Swann Auction Galleries Oct 18: Early Printed, Medical, Scientific & Travel Books</b>
    <b>Swann Auction Galleries Oct 18:</b><br>William Shakespeare, <i>A Winters Tale,</i> first edition, London, 1623. $6,000 to $9,000.
    <b>Swann Auction Galleries Oct 18:</b><br>Pedro de Medina, <i>L'Arte del Navegar,</i> first edition in Italian, Venice, 1554. $8,000 to $12,000.
    <b>Swann Auction Galleries Oct 18:</b><br>Hans Meyer, <i>An Account of The First Ascent of Kilimanjaro,</i> first edition in English, London, 1891. $1,500 to $2,500.
  • <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.
  • <b>19th Century Shop.</b> (AMERICAN WEST.), Watkins, Taber, Savage, and others. <i>Magnificent Album of Mammoth Photographs of the American West, with other subjects various,</i> ca. 1865-1880s
    <b>19th Century Shop.</b> EINSTEIN, ALBERT. <i>The Meaning of Relativity,</i> signed by Einstein. London: Methuen, 1922
    <b>19th Century Shop.</b> CARTER, SUSANNAH. <i>The Frugal Housewife</i> (1772) 2d cookbook printed in America.
    <b>19th Century Shop.</b> SHAKESPEARE, WILLIAM. <i>Comedies, Histories, and Tragedies. Published according to the true originall copies.</i> The second impression. London: by Tho. Cotes, for Robert Allot, 1632
    <b>19th Century Shop.</b> (BROOKLYN). <i>An Act to Incorporate and Vest Certain Powers in the Freeholders and Inhabitants of the Village of Brooklyn, in the County of Kings.</i> Brooklyn: Printed by A. Spooner, 1816
    <b>19th Century Shop.</b> PAINE, THOMAS. <i>Common Sense</i> (1776) first edition sheets.
  • <b>Sotheby’s Paris: The Hunting Library of the Counts du Verne. 5 October.</b> The Largest Collection of Hunting and Falconry To Appear on the Market for the Last Thirty Years.
    <b>Sotheby's Paris Oct. 5:</b> Jacques du Fouilloux. <i>La Vénerie</i>. Poitiers, 1561. Est. €100.000 – 150.000
    <b>Sotheby's Paris Oct. 5:</b> Gaston Phébus. <i>Déduits de la chasse des bestes sauvaiges et des oyseaux de proye</i>. Paris, circa 1507. Est. €150.000 – 200.000
    <b>Sotheby's Paris Oct. 5:</b> Pierre et François de Gommer. <i>L’Autoursserie</i>. Chaalons, 1594. Est. €30.000 – 50.000
    <b>Sotheby’s Paris: The Hunting Library of the Counts du Verne. 5 October. The Largest Collection of Hunting and Falconry To Appear on the Market for the Last Thirty Years.
    <b>Sotheby's Paris Oct. 5:</b> Pierre Landry. <i>Quatre scènes de chasse à courre.</i> Paris, circa 1680. Est. €2.000 – 3.000
    <b>Sotheby's Paris Oct. 5:</b> Conte Henri de Vibraye - Baron Karl Reille. <i>La chasse à courre.</i> Paris, 1951. Est. €3.000 – 5.000
    <b>Sotheby's Paris Oct. 5:</b> Duc de Brissac - Paul Jouve. <i>Chasse.</i> Paris, 1956. Est. €30.000 – 50.000

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>Bonhams: Fine Books and Manuscripts. Sept. 21, 2016</b>
    <b>Bonhams Sept. 21:</b> WARREN, JOSEPH. Letter Signed ("Jos Warren") as Chairman of the Committee of Safety. Cambridge, MA, June 4, 1775.
    <b>Bonhams Sept. 21:</b> WHITMAN, WALT. Leaves of Grass. Brooklyn, NY: [for the Author], 1855.
    <b>Bonhams Sept. 21:</b> JEFFERSON, THOMAS. Printed Broadside Signed ("Th: Jefferson") as Secretary of State. Philadelphia, February 12, 1793.
    <b>Bonhams Sept. 21:</b> CELLINI, BENVENUTO. 1500-1571. Autograph Letter Signed ("Beto. Cellini"). [Florence, c.1566].
    <b>Bonhams: Fine Books and Manuscripts. Sept. 21, 2016</b>
    <b>Bonhams Sept. 21:</b> NAPOLEON BONAPARTE. Autograph Manuscript. [c.1795].
    <b>Bonhams Sept. 21:</b> DICKENS, CHARLES. Great Expectations. London: Chapman and Hall, 1861.
    <b>Bonhams Sept. 21:</b> REED, JOHN. To the Honourable House of Representatives of the Freemen of Pennsylvania this Map of the City and Liberties of Phiadelphia With the Catalog of Purchasers is Humbly Dedicated.... [Philadelphia]: engraved by James Smit
    <b>Bonhams Sept. 21:</b> ELIOT, THOMAS STEARNS. The Waste Land. New York: Boni and Liveright, 1922.
    <b>Bonhams: Exploration and Travel. Sept. 20, 2016</b>
    <b>Bonhams Sept. 20:</b> PTOLEMAEUS, CLAUDIUS. 2nd Century. Untitled Ptolemaic Map of the World. [Insculptum est per Johane Schnitzer de Armszheim.] [Ulm: Leinhart Holle, July 16, 1482.]
    <b>Bonhams Sept. 20:</b> HONDIUS, JODOCUS THE YOUNGER. 1597-1651; JOHANNES JANSSONIUS, PUBLISHER. 1588-1664; ADRIAAN METIUS, ASTRONOMER; & ABRAHAM GOOS, ENGRAVER. A Pair of Library Globes. Amsterdam: 1623, 1648.
    <b>Bonhams Sept. 20:</b> HAKLUYT, RICHARD. 1553-1616. The Principall Navigations, Voiages, and Discoveries of the English Nations, made by Sea or ouer Land, to the most remote and farthest distant Quarters of the earth at any time within...
    <b>Bonhams Sept. 20:</b> WARRE, HENRY JAMES, SIR. 1819-1898. Sketches in North America and the Oregon Territory. [London]: Dickinson & Co., [1848].
    <b>Bonhams Sept. 20:</b> SPEKE, JOHN HANNING. 1827-1864. Manuscript map, ["Sketch Map of Eastern Africa, Shewing the Various Routes travelled by the Expedition"], 230 x 255 mm, n.p., c.1858.

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