Rare Book Monthly

Articles - June - 2007 Issue

The Swami Speaks

Dad

Bruce McKinney


By Bruce McKinney

Change is the order of the day not only in politics but also in book selling; the reactions and responses just as emotional and visceral. For those who became booksellers to avoid the froth there is plenty of heckling to make you wonder if you chose the right profession. The pastoral expectations of a life among books, for some time, have been giving way to an emerging market along the lines of the Chicago stock yards.

For fully ten years the world of books has been shifting online. With this transfer has come awareness of the vastly larger quantities of many books and editions that "are out there." This in turn has brought a recalibration of rarity that increasingly looks not only at availability but interest.

It has created an emerging worldwide and increasingly visible inventory that is easy to see and everyday understood by more people. It has forced dealers to decide whether to price material according to what a specific individual will pay or to what the market says it is worth. Just a few years ago it was unlikely collectors were seeing the larger picture. Today many more are, the evidence of this is in the volume of material moving through eBay and traditional auctions. Buyers of all persuasions increasingly trust competitive bidding more than asking prices and so are bidding rather than outright buying.

The disconnect between the old market of prix fix and the new market of demand established prices has been possible only because collectors have been slow to grasp the emerging transparency of the market. This has left the dealer to decide how much to disclose, a difficult decision with no right answer. Sellers of course have the right to obtain the best price and so do buyers. If one side is asleep the other will prevail but these days few collectors are entirely unaware of their options. For years the dealer knew much more but the gap is quickly closing and it's increasingly common for collector knowledge to decisively trump dealer awareness.

For collectors with some awareness of the extensive market information now available this has meant acquiring access to the tools that empower bidders. Of course to acquire or access them you need to know what they are and while some dealers have embraced such tools as part of the emerging future of bookselling and collecting and share this information with their clients, others have responded in anger, disbelief and frustration. Ultimately, it is the collector who must be satisfied and they are embracing such tools.

With eBay and auction houses playing increasing roles in the exchange of books, manuscripts and ephemera the logical next step is for dealers to edge into the auction market themselves. Traditionally, this would have been verboten. Booksellers sold at retail prices they set, and a bidding process would have undermined the logic of their pricing. However, the overwhelming number of listings and increasing buyer preference for market derived prices is making this necessary. Better to adapt to a new pricing strategy than be left behind.

This is not to say we expect dealers to stop selling by traditional means. They will not and should not. What we expect to see is their offering some items through a bid and ask process. The first such offerings are likely to be their slowest-moving inventory. That said, we expect to see one or more of the bookseller organizations lead the way to organizing a booksellers' auction site. With the high commissions of other auctions, both online and traditional, plus the tendency for books to get lost among the hundreds of items they sell, a bookseller run online auction just for books appears the logical next step. If such a step is logical, then it probably will happen.

Rare Book Monthly

  • <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 372: Martin Luther King Jr. March for Freedom Now! Placard. Chicago, 1960. 28 x 22”. $3,000 to $6,000
    <b>Potter & Potter Auctions, July. 28:</b> Lot 567: Warhol, Andy. Tate Gallery Exhibition Booklet, Signed on the Cover by Warhol. Tate Gallery, 1971. $700 to $900
    <b>Potter & Potter Auctions, July. 28:</b> Lot 72: Mitchell, Margaret. <i>Gone With the Wind.</i> New York: The Macmillan Co., 1936. First edition, first issue. $4,000 to $5,000
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 468: Photo Archive Documenting the 1930s—50s Chicago Jazz and Night Club Scene. A significant collection. $2,000 to $4,000
    <b>Potter & Potter Auctions, July. 28:</b> Lot 143: Dr. Seuss. <i>Oh Say Can You Say.</i> 1979, First Edition, Signed. $200 to $300
    <b>Potter & Potter Auctions, July. 28:</b> Lot 285: [Maps] Thomas G. Bradford. <i>A Comprehensive Atlas, Geographical, Historical & Commercial.</i> Boston: William D. Ticknor, 1835. First Edition. $1,600 to $1,800
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 69: Herman Melville. <i>Moby Dick, or The Whale</i>. New York: Random House, 1930. First Kent Trade Edition. $400 to $600
    <b>Potter & Potter Auctions, July. 28:</b> Lot 295: John James Audoban. Group of 148 Lithographs from the Birds of America. Philadelphia: J.T. Bowen, ca. 1840s. $600 to $800
    <b>Potter & Potter Auctions, July. 28:</b> Lot 54: Langston Hughes. <i>One-Way Ticket.</i> New York: Alfred A. Knopf, 1949. First edition. $300 to $500
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 7: Ray Bradbury. <i>The Martian Chronicles.</i> With a Wine Label Signed by Bradbury. Garden City: Doubleday, 1950. First edition $300 to $500
    <b>Potter & Potter Auctions, July. 28:</b> Lot 121. Frank L Baum. <i>The Wonderful Wizard of Oz.</i> Chicago: George M. Hill Co., 1899, 1900. First Edition. $4,000 to $5,000.
    <b>Potter & Potter Auctions, July. 28:</b> Lot 369. [Declaration of Independence] Peter Force Engraving of the Declaration of Independence. One page; 29 x 26”. From the "American Archives" 1837-1853 series of books. $15,000 to $20,000
  • <b>Swann Auction Galleries:</b> Luis de Lucena, <i>Arte de Ajedres,</i> first edition of the earliest extant manual on modern chess, Salamanca, circa 1496-97. Sold for $68,750.
    <b>Swann Auction Galleries:</b> Carte-de-visite album with 83 images of prominent African Americans & abolitionists, circa 1860s. Sold for $47,500.
    <b>Swann Auction Galleries:</b> Gustav Klimt, <i>Das Werk,</i> Vienna & Leipzig, 1918. Sold for $106,250.
    <b>Swann Auction Galleries:</b> Man Ray, <i>[London Transport] – Keeps London Going,</i> 1938. Sold for $149,000.
    <b>Swann Auction Galleries:</b> Thomas Jefferson, Letter Signed, to Major-General Nathanael Greene, promising reinforcements against Cornwallis, 1781. Sold for $35,000.
    <b>Swann Auction Galleries:</b> Nicolas de Fer, <i>L’Amerique Divisee Selon Letendue de ses Principales Parties,</i> Paris, 1713. Sold for $30,000.
    <b>Swann Auction Galleries:</b> Russell H. Tandy, <i>The Secret in the Old Attic,</i> watercolor, pencil & ink, 1944. Sold for $35,000.
    <b>Swann Auction Galleries:</b> Ernest Hemingway, <i>Three Stories & Ten Poems,</i> first edition of the author's first book, Paris, 1923. Sold for $23,750.
    <b>Swann Auction Galleries:</b> Walker Evans, <i>River Rouge Plant,</i> silver print, 1947. Sold for $57,500.
  • <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>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> SHAKESPEARE, WILLIAM. <i>The Tragedie of Julius Caesar.</i> London, 1623. 1st appearance in print, Complete from the First Folio. Sold for $175,000
    <b>Bonhams, June 12 results:</b> Ernst, Max. <i>Mr. Knife and Miss Fork</i>. Paris, 1932. DELUXE EDITION. Sold for $15,625
    <b>Bonhams, June 12 results:</b> Cage, John. Autograph musical leaf from his Concert for Piano and Orchestra, NY, 1958. Sold for $18,750
    <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Einstein, Albert. Signed Passport Photo for his US citizenship application. Bermuda, 1935. Sold for $17,500
    <b>Bonhams, June 12 results:</b> Verard, Antoine. Illuminated printed Book of Hours. Paris, 1507. Sold for $7,500
    <b>Bonhams, June 12 results:</b> Wetterkurzschlussel. German Weather Report Codebook - for Enigma use. Berlin, 1942. Sold for $225,000
    <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Morelos y Pavon, Jose Maria. Autograph letter signed to El Virrey Venegas, February 5, 1812. Sold for $6,250
    <b>Bonhams, June 12 results:</b> Milne, A.A. Complete set of <i>Winnie-the-Pooh</i> books. 4 volumes. All first issue points. London, 1924-1928. Sold for $5,250
    <b>Bonhams, June 12 results:</b> A 48-star American Flag, battle worn flown at Guadalcanal and Peleliu, 1942-1944. Sold for $35,000
    <b>Bonhams, June 12 results:</b> Locke, John. Autograph Letter Signed mourning the death of his friend, William Molyneaux, 2 pp, October 27, 1698. Sold for $20,000
  • <b>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Zane Grey, Inscribed photograph album depicting Grey and party at Catalina, fishing, and in Arizona. $700 to $1,000
    <b>Doyle, online only Jul 13-24:</b> Eric Taverner, Salmon Fishing...London: Seeley, Service & Co., 1931. $600 to $900
    <b>Doyle, online only Jul 13-24:</b> The Gentleman Angler. $300 to $500
    <b>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Ken Robinson, Flyfishers' Progress. [London: The Flyfishers' Club, 2000. $200 to $300
    <b>Doyle, online only Jul 13-24:</b> G. H. Lacy, North Punjab Fishing Club Angler's Handbook. Calcutta: Newman & Co., 1890. $300 to $500
    <b>Doyle, online only Jul 13-24:</b> J. Harrington Keene, Fly-Fishing and Fly-Making for Trout, etc. New York, 1887. $200 to $300
    <b>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Arthur Macrate, The History of The Tuna Club, Avalon, Santa Catalina Island, California, 1948. $400 to $600
    <b>Doyle, online only Jul 13-24:</b> Joseph D. Bates Jr. Streamer Fly Tying and Fishing. Harrisburg, PA: The Stackpole Company, 1966. $800 to $1,200
    <b>Doyle, online only Jul 13-24:</b> Paul Schmookler and Ingrid V. Sils. Rare and Unusual Fly Tying Materials: A Natural History. $300 to $500
    <b>Doyle, online only Jul 13-24:</b> Herbert Hoover, Fishing For Fun - And To Wash Your Soul. New York: Random House, 1963. $400 to $600

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