Rare Book Monthly

Articles - December - 2007 Issue

What we can learn about value from history


An opportunity to compare 1944 with today

By Bruce McKinney

In the spring of 1944 the New York Historical Society consigned to Parke-Bernet 236 lots described as Rare Americana [Unstamped Duplicates]. The name, notwithstanding, not everything was rare. We know this by having recently conducted an item by item comparison of material offered in this auction to listings available on Abe. Why Abe? Their holdings are enormous and their advanced search effective for efficiently unearthing appropriate matches. On their site this is a practical study. As to whether "rare" was simply a convenient term for the auction promoters or one strongly believed is now probably beyond the reach of first person experience to say. Had they had access to Abe they no doubt would have described the sale differently. The internet today provides clarity beyond the comprehension of even the best cataloguers and bibliographers of just a few decades ago.

This particular auction came into view several months ago when we were researching the history of the Maxwell Code for an article in the November issue of AE Monthly on the Aitchison-Wessen-Dush-Emerson copy that sells at Cowans on December 6th. Lot 164 of the 1944 sale was a different copy but one of only a few to surface over the past fifty years. As a result of this research we subsequently added the complete 1944 auction to the AED along with realized prices and the names of buyers for 197 of the 236 lots. This done, it became possible to compare the entire contents of the sale to Abe's present listings and I did so recently. The opportunity to see how prices have adjusted over the past 60 years seemed worth the effort.

In the 1944 sale some of the material, as the auction title states, is no doubt rare, even very rare. The Maxwell Code, the most important item in the sale, is authentically rare and probably far more important than was then generally understood. That the buyer that day, Thomas Streeter, knew the item is not surprising. He was a scholar of the first rank, wealthy and committed. That he paid $900 or 10% of the entire sale proceeds to acquire it says both he and someone else recognized its importance for it took two bidders to make it a contest. Eight years later he went on to include it in his Americana-Beginnings catalogue, seventy-nine examples chosen, from the almost ten thousand items in his collection, to illustrate the development of America. It was the centerpiece of the 1944 sale and one of the high spots of his extraordinary collection that was gifted and sold in the late 1960s.

As for the other 235 "rare" items in the 1944 NYHS sale how about them? Their average realization was $35.99. Actually, a better way to see the sale is to treat the top ten realizations separately from the rest. They brought in from $150 to $900 and a total of $3,693. The other 226 items brought $5,545.50 or $24.54 each. This later group, it turns out, is the Abe material: rare then, Abe today.

Rare Book Monthly

  • <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Jenner (Rev. George Charles). <i>The Evidence at Large...Respecting Dr Jenner's Discovery of Vaccine Inoculation,</i> presentation copy from Edward Jenner to Rev. Rowland Hill, 1805. £4,000 to £6,000
    <b>Forum Auctions, Mar. 22:</b> Houdini (Harry).- Maggi (Girolamo). <i>De tintinnabulis liber postumus...de equuleo liber,</i> Harry Houdini's copy, Amsterdam, H. Wetstein, 1689. £600 to £800
    <b>Forum Auctions, Mar. 22:</b> Meyer (Henry Leonard). Coloured Illustrations of British Birds, and their Eggs , 7 vol. in 2 plus Illustrations of British Birds, 4 vol., 1842-50 and [1835-51]. £5,000 to £7,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Dickens (Charles). <i>An Entirely New Romantic Drama, in Three Acts, by Mr. Wilkie Collins, called The Frozen Deep,</i> 1857. £3,000 to £4,000
    <b>Forum Auctions, Mar. 22:</b> Lighthouses and Islands of Ireland, c. 125 drawings, 1867. £6,000 to £8,000
    <b>Forum Auctions, Mar. 22:</b> Shelley (Lady Jane). Diary, 1853 & 1860. £1,500 to £2,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Scottish Binding.- The Holy Bible, Containing the Old and New Testaments, bound in contemporary brown polished calf decorated with the figure of a Chinese spearman, by ?James Scott of Edinburgh, 1778. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Greene (Graham). <i>The Man Within,</i> first edition, signed by the author, 1929. £4,000 to £6,000
    <b>Forum Auctions, Mar. 22:</b> Mellan (Claude, 1598-1688). The Holy Face, or the Veil of St Veronica, [c. 1649 and later]. £800 to £1,200
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Desaguliers (John Theophilus). <i>A Dissertation concerning Electricity,</i> W. Innys, and T. Longman, 1742. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Le Jeune (Paul). <i>Relation de se qui s'est passé en la Nouvelle France en l'anné 1636 enuoyée au R.Pere Provincial de la Compagnie de Iesus en la Province de France,</i> 1637. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Stumpf (Johann Rudolph). <i>Gemeiner loblicher Eydgnoschafft Stetten, Landen und Völckern Chronicwirdiger thaaten beschreibung, </i> Zurich, Froschauer, 1586. £3,000 to £4,000
  • <b>Swann Auction Galleries Mar 22: Autographs</b>
    <b>Swann Auction Galleries Mar 22:</b> George Washington, Letter Signed to General James Clinton, preparing for the Sullivan-Clinton Campaign, 1778. $25,000 to $35,000.
    <b>Swann Auction Galleries Mar 22:</b> Thomas Jefferson, Letter Signed, to Major-General Nathanael Greene, promising to send reinforcements against Cornwallis, 1781. $15,000 to $25,000.
    <b>Swann Auction Galleries Mar 22:</b> Thomas Edison, Autograph Letter Signed, to Western Union President William Orton, 1878. $10,000 to $20,000.
    <b>Swann Auction Galleries Mar 22: Autographs</b>
    <b>Swann Auction Galleries Mar 22:</b> William, Bishop of Coventry, vellum charter granting the church of Rochdale to the Cistercian Abbey of Stanlaw, in Latin, 1222. $3,500 to $5,000.
    <b>Swann Auction Galleries Mar 22:</b> FDR, Photograph Signed & Inscribed, framed with wood removed from the White House roof, 1927. $2,500 to $3,500.
    <b>Swann Auction Galleries Mar 22:</b> Jean Dubuffet, archive including many letters written while painting in NYC, 1951-72. $4,000 to $6,000.
    <b>Swann Auction Galleries Mar 22: Autographs</b>
    <b>Swann Auction Galleries Mar 22:</b> Mohandas K. Gandhi, Autograph Letter Signed, describing the source of his patience, 1939. $4,000 to $6,000.
    <b>Swann Auction Galleries Mar 22:</b> Lithograph portrait of Albert Einstein by Hermann Struck, signed by both, 1923. $4,000 to $6,000.
    <b>Swann Auction Galleries Mar 22:</b> Charles The Bold, Duke of Burgundy, Letter Signed to Johann IV of Nassau, in French, 1470. $3,000 to $4,000.
    <b>Swann Auction Galleries Mar 22: Autographs</b>
    <b>Swann Auction Galleries Mar 22:</b> Jean Cocteau, Autograph Letter Signed, in French, 1919. $3,000 to $4,000.
    <b>Swann Auction Galleries Mar 22:</b> Louis Armstrong, two Autograph Letters Signed to Erich Kauffmann, his lip salve purveyor, 1965-70. $1,500 to $2,500.
    <b>Swann Auction Galleries Mar 22:</b> Wernher von Braun, Autograph Letter Signed to Jonathan Cross, 1975. $5,000 to $7,500.
  • <b>Bonhams: Fine Books and Manuscripts. 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. $80,000 to $120,000
    <b>Bonhams, Mar. 9:</b> Violin belonging to Albert Einstein, presented to him by Oscar H. Steger, 1933. $100,000 to $150,000
    <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. $100,000 to $150,000
    <b>Bonhams: Fine Books and Manuscripts. 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. $10,000 to $15,000
    <b>Bonhams, Mar. 9:</b> NEWTON, ISAAC. Autograph Manuscript in Latin, being detailed instructions on making the philosopher's stone. 8 pp. 1790s. $200,000 to 300,000
    <b>Bonhams, Mar. 9:</b> 1869 Inauguration Bible of President Ulysses S. Grant. $80,000 to $120,000
  • <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>

Article Search

Archived Articles

Ask Questions