Rare Book Monthly

Articles - August - 2006 Issue

Shakespeare First Folio Sells For Over $5 Million

Firstfolio

A Shakespeare First Folio.


By Michael Stillman

A copy of the rare First Folio edition of Shakespeare's plays was sold at auction for the first time in five years on July 13, 2006. When the hammer went down at Sotheby's in London, the final bid stood at £2,808,000, or approximately $5,153,000 in U.S. dollars. It was the highest price ever paid for a First Folio at a London auction, and the highest price for any printed book at a Sotheby's London auction. From what we have seen, this appears to be the highest price paid for any book this year, and it is more than was paid for any book or manuscript in 2005 save one -- a copy of the double elephant folio edition of Audubon's Birds of America which went for $5,616,000.

The winning bid was placed by Simon Finch Rare Books of London. However, Finch was not buying on speculation or for stock, but evidently on behalf of a specific buyer. The ultimate buyer was not named. Sotheby's auctioneer and specialist in charge of this sale, Peter Selley, described the final purchaser simply as a "collector."

The price paid was within the estimated range, but did fall at the lower end, and was less than was paid for a copy sold at auction five years ago in New York. Asked whether the lower bid versus the 2001 sale indicated anything about the state of the market, Mr. Selley responded, "The 2001 copy was different, that is all one can say." He noted that in some respects, the 2001 copy was inferior to the one sold by Sotheby's (Dr. Daniel Williams' copy). The earlier copy, he noted, was partly made up, that is, had a few leaves taken from other copies. It also had a later binding. On the other hand, Dr. Williams' copy was missing the "To the reader" leaf at the front, which the previous one contained, a significant drawback. Mr. Selley said that he did not believe the heavy annotations in the Williams' copy, in a very old hand, detracted from the value. "They would add value, if anything," was the view he expressed.

Mr. Selley stated that he believes it is too early to reach any conclusions about the book market based on this sale. At this level, there are not many potential customers, so prices can fluctuate significantly based on the presence or absence of even a single highly motivated buyer. "One has to remember that for the book market any figure above £1 million is a very large sum, perhaps equivalent to £50 - 60m in the picture market," he explains. "There are normally only going to be a very small number of actual bidders on the day."

The Shakespeare First Folio is certainly the most important piece of English literature ever published. Many of Shakespeare's works were not published at the time they were performed, this collection being the only contemporary printing of them. Eighteen of his works, including the likes of MacBeth, Julius Caesar, Antony and Cleopatra, and Twelfth Night would almost surely have been lost forever if a group of Shakepeare's admirers had not published this edition in 1623. It is estimated that around 750 copies were printed, and that about a third of them survive. As such it is not the rarest of books, but it certainly is one of the most important ever published.

Dr. Williams' copy had been left to a trust which managed his library. After holding the copy continuously since 1716, the longest any first folio has remained in a single collection, the trust decided to sell its copy so that its value could be used for other purposes. The considerable funds raised in this sale should help the Trust substantially in its other endeavors.

Rare Book Monthly

  • <b>Doyle, April 25:</b> E.H. SHEPARD, Original drawing for A.A. Milne’s The House at Pooh Corner.<br>$40,000-60,000
    <b>Doyle, April 25:</b> BERNARD RATZER, Plan of the City of New York in North America, surveyed in the years 1766 & 1767. $80,000-100,000
    <b>Doyle, April 25:</b> THOMAS JEFFERSON, Autograph letter signed comparing Logan, Tecumseh, and Little Turtle to the Spartans. Monticello: 15 February 1821. $14,000-18,000
    <b>Doyle, April 25:</b> JOHN C. FREMONT, Narrative of the Exploring Expedition to the Rocky Mountains, in the Year 1842.. Abridged edition, the only one containing the folding map From the Sporting Library of Arnold “Jake” Johnson. $3,000-5,000
    <b>Doyle, April 25:</b> ZANE GREY, Album containing 94 large format photographs of Grey and party at Catalina Island, Arizona, and fishing in the Pacific. From the Sporting Library of Arnold “Jake” Johnson. $5,000-$8,000
    <b>Doyle, April 25:</b> WILLIAM COMBE, A History of Madeira ... illustrative of the Costumes, Manners, and Occupations of the Inhabitants. produced by Ackermann in 1821; From the Sporting Library of Jake Johnson. $2,000-$3,000
    <b>Doyle, April 25:</b> ERIC TAVERNER, Salmon Fishing... One of 275 copies signed by Taverner, published in 1931,From the Sporting Library of Jake Johnson. $2,000-$3,000
    <b>Doyle, April 25:</b> JOHN WHITEHEAD, Exploration of Mount Kina Balu, North Borneo. Whitehead reached the high point of Kinabalu in 1888. Part of a major group of travel books from the Sporting Library of Jake Johnson. $2,000-$3,000
    <b>Doyle, April 25:</b> JOHN LONG, Voyages and Travels of an Indian Interpreter and Trader, describing the Manners and Customs of the North American Indians... The first edition of 1791. $3,000-$5,000
    <b>Doyle, April 25:</b> SAMUEL BECKETT, Stirrings Still. This, Beckett’s last work of fiction with original lithographs by Le Brocquy, limited to 200 copies signed by the author and the artist. From the Estate of Howard Kaminsky.. $1,500-$2,500
  • <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>Swann Auction Galleries Apr 26:</b> Jacques-Émile Ruhlmann, wallpaper sample book, circa 1919. $15,000 to $25,000.
    <b>Swann Auction Galleries Apr 26:</b> Archive from a late office of the Breuer & Smith architectural team, New York, 1960-70s. $3,500 to $5,000.
    <b>Swann Auction Galleries Apr 26:</b> William Morris, <i>The Story of the Glittering Plain or the Land of Living Men,</i> illustrated by Walter Crane, Kelmscott Press, Hammersmith, 1894. $2,500 to $3,500.
    <b>Swann Auction Galleries Apr 26:</b> Gustave Doré, <i>La Sainte Bible selon la Vulgate,</i> Tours, 1866. $15,000 to $25,000.
    <b>Swann Auction Galleries Apr 26:</b> Gustav Klimt & Max Eisler, <i>Eine Nachlese,</i> complete set, Vienna, 1931. $15,000 to $25,000.
    <b>Swann Auction Galleries Apr 26:</b><br>Eric Allatini & Gerda Wegener, <i>Sur Talons Rouges,</i> with original watercolor by Wegener, Paris, 1929. $5,000 to $7,500.
    <b>Swann Auction Galleries Apr 26:</b><br>C.P. Cavafy, <i>Fourteen Poems,</i> illustrated & signed by David Hockney, London, 1966. $5,000 to $7,500.
    <b>Swann Auction Galleries Apr 26:</b> Jean Midolle, <i>Spécimen des Écritures Modernes...</i>, Strasbourg, 1834-35. $3,000 to $4,000.
    <b>Swann Auction Galleries Apr 26:</b><br>E.A. Seguy, <i>Floréal: Dessins & Coloris Nouveaux,</i> Paris, 1925. $3,000 to $4,000.
  • <b>Bonhams: Results from Fine Books and Manuscripts on 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. SOLD for $131,250
    <b>Bonhams, Mar. 9:</b> Violin belonging to Albert Einstein, presented to him by Oscar H. Steger, 1933. SOLD for $516,500
    <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. SOLD for $106,250
    <b>Bonhams: Results from Fine Books and Manuscripts on 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. SOLD for $16,250
    <b>Bonhams, Mar. 9:</b> NEWTON, ISAAC. Autograph Manuscript in Latin, being detailed instructions on making the philosopher's stone. 8 pp. 1790s. SOLD for $275,000
    <b>Bonhams, Mar. 9:</b> 1869 Inauguration Bible of President Ulysses S. Grant. SOLD for $118,750

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