Rare Book Monthly

Articles - January - 2008 Issue

<i>In The News</i>: Magna Carta Sells For $21.3 Million

Carta

The Magna Carta sold for over $21 million.


By Michael Stillman

It was the sale of this century, a one-item auction at Sotheby's in New York. At sale was one of the earlier versions of the Magna Carta, written by hand in 1297. The Magna Carta is the founding document of liberty, setting down basic rules which even the most powerful sovereigns of ancient England were forced to obey. There are but a handful of copies from the thirteenth century in existence, all but two still in England. Offered for sale was the only one in America (the other one outside of England resides in Australia), previously owned by Ross Perot's Perot Foundation. Perot purchased his copy in 1983 for $1.5 million.

When the hammer came down, the winning bid was a near record for the book and manuscript field - $21,321,000. As astounding as the number is, it may have been a slight disappointment, as it trended toward the lower end of the estimate of $20 - $30 million. Nevertheless, it was an impressive figure for an extraordinary document. Americans may be particularly pleased by the winner – David Rubinstein, an attorney and founder of the private equity firm the Carlyle Group. He served as Deputy Assistant to the President for Domestic Policy during the Carter administration.

Rubinstein immediately announced his intention to keep the document where it has been for the past 25 years - at the National Archives in Washington, D.C. Apparently, he does not collect such material and has never even gone to an auction like this before. What with New York's busy traffic, he barely even made it to the auction room in time to bid. However, he was concerned that with exchange rates making items in America "cheap" for foreigners, this one American copy would end up leaving the country. Describing the document as a "beacon for freedom," Rubinstein decided to do his part to keep it in the U.S., and as a result, Americans will still be able to view a copy of this founding document in the nation's capital.

Another highly collectible and expensive (though not on the same level) document was sold at an obscure auction house in rural upstate New York. This story proves that gaining a reputation from one sale can lead to an opportunity to make a second. In this case, the book was a first edition of the Book of Mormon, printed in Palmyra, New York, in 1830. Back in September, small-town auctioneer Hessney Auction of Geneva was commissioned to clean out the home of a retired gentleman and came across a first edition Book of Mormon in the attic. That gentleman had purchased it many decades earlier and more or less forgot about it. That he was able to find one at the time is not terribly surprising as Geneva is just a stone's throw from Palmyra. That copy was sold by Hessney in September for $105,600.

News of that sale traveled all the way to Salt Lake City, Utah, where another individual had a first edition sitting on his bookshelf. This copy had been passed down from Harold Lindstrom, a music critic for the Deseret Morning News, who had purchased it in 1944. The owner noted the one hundred grand selling price and dispatched his copy to Geneva too. That copy was sold last month to an undisclosed California buyer for $97,900, slightly less than the previous copy for one in slightly less good condition. Reportedly, the new owner plans to fix the copy up a bit, stick it in his safe deposit box, and sell it in another year or so for a nice profit.

Rare Book Monthly

  • <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop:</b> Exodus 10:10 to 16:15. Complete Biblical scroll sheet in Hebrew, a Torah scroll panel. Middle East, ca. 10th or 11th century.
    <b>19th Century Shop:</b> Copernicus Refuted. (Astronomy.). Scientific manuscript of a course of studies at Collège de la Trinité, Lyon. 1660s.
    <b>19th Century Shop:</b> Israel’s War of Independence and the Early Days of the IDF. 58 photographs presented to Israel Ber, IDF officer and later convicted spy.
    <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop:</b> Early Unpublished Darwin letter on the races of man. Autograph Letter Signed [to Henry Denny]. Down, Kent, June 1, [1844].
    <b>19th Century Shop:</b> Classic Image of American Slavery. Kimball, M. H. <i>Emancipated Slaves</i>. New York: George Hanks, 1863.
    <b>19th Century Shop:</b> (Underground Railroad.) Scaggs, Isaac. Important Runaway Slave Poster: $500 Reward Ran away, or decoyed from the subscriber…
  • <b>Swann Auction Galleries Aug 2: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 2:</b> <i>Keep Calm and Carry On</i>, designer unknown, 1939. $12,000 to $18,000.
    <b>Swann Auction Galleries Aug 2:</b> Théophile-Alexandre Steinlen, <i>Le Journal / La Traite des Blanches</i>, 1899. $3,000 to $4,000.
    <b>Swann Auction Galleries Aug 2:</b> <i>"Let Us Go Forward Together,"</i> designer unknown, 1940. $2,000 to $3,000.
    <b>Swann Auction Galleries Aug 2: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 2:</b> Henri de Toulouse-Lautrec, <i>Babylone d'Allemagne</i>, 1894. $20,000 to $30,000.
    <b>Swann Auction Galleries Aug 2:</b> Frank Beatty, <i>Out of the Running</i>, 1929. $2,000 to $3,000.
    <b>Swann Auction Galleries Aug 2:</b> James Montgomery Flagg, <i>Wake Up America Day</i>, 1917. $4,000 to $6,000.
    <b>Swann Auction Galleries Aug 2: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 2:</b> <i>Danté / Sim • Sala • Bim!</i>, designer unknown. $12,000 to $18,000.
    <b>Swann Auction Galleries Aug 2:</b> Alphonse Mucha, <i>[Zodiac]</i>, 1900. $12,000 to $18,000.
    <b>Swann Auction Galleries Aug 2:</b> Rick Griffin, <i>Jimi Hendrix Experience / John Mayall</i>, 1968. $8,000 to $12,000.
    <b>Swann Auction Galleries Aug 2: Vintage Posters</b>
    <b>Swann Auction Galleries Aug 2:</b> Abram Games, <i>Join the ATS</i>, 1941. $3,000 to $4,000.
    <b>Swann Auction Galleries Aug 2:</b> Aldo Mazza, <i>Torino / Esposizione Internazionale</i>, 1911. $3,000 to $4,000.
    <b>Swann Auction Galleries Aug 2:</b> Robert Motherwell, <i>Julliard School / Dedication - Lincoln Center</i>, 1969. $3,000 to $4,000
  • <b>Bonhams, inviting consignments for Sep 27:</b> Newton. <i>Philosophiae naturalis principia mathematica</i>. London, 1687.
    <b>Bonhams, inviting consignments for Sep 27:</b> Josephus. <i>De antiquitate Judaica.</i> Lubeck, 1475-76.
    <b>Bonhams, inviting consignments for Sep 27:</b> Carlerius. <i>Sporta fragmentorum, Sportula fragmentorum</i>. Brussels, 1478-79.
    <b>Bonhams, inviting consignments for Sep 27:</b> Fridolin. <i>Der Schatzbehalter</i>. Nuremberg, 1491.
    <b>Bonhams, inviting consignments for Sep 27:</b> Pinder. <i>Der beschlossen gart des rosenkrantz marie</i>. Nuremberg, 1505.
    <b>Bonhams, inviting consignments for Sep 27:</b> Isidorus Hispalensis. <i>Synonyma de Homine</i>. Nuremberg, 1470-71.
    <b>Bonhams, inviting consignments for Sep 27:</b> Durer. Sammelband including <i>Underweysung der messing</i>. Nuremberg, 1525-29.
  • <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>
    <b>TO AKABA! T.E. Lawrence and the Arab Revolt. Books, manuscripts and pictures. On exhibition 16 to 24th July at Maggs' new premises 48 Bedford Square.</b>

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