Rare Book Monthly

Articles - December - 2008 Issue

Death Defying Success

321

Augustus Kollner, East view of Philadelphia. 1856


By Bruce McKinney

On November 19th in New York Bloombury sold the Jay T. Snider collection of Philadelphiana. The house, bidding to enter the rarified space of super-premium auction selling occupied by Christie's and Sotheby's and to generate bidding enthusiam for material both superb and parochial, produced a 6 lb. glossy full color catalogue that will make an effortless transition from sale document to coffee table icon. The presentation is that good. The timing was tough.

The widely-spoken quote is "when the ocean rises all boats rise." So when oceans recede then what? Most dealers and auction house representatives are away when you want to ask that question and another "how do you feel about 'what goes up must come down.'" You can't blame them of course. But Bill Reese, the largest buyer by dollar volume in the sale [William Reese Company], Joe Felcone [The Joseph Felcone Company] and Jeremy Markowitz of Bloomsbury who organized the sale were willing to speak on the record about it. Both Bill and Joe bid for institutions, collectors and stock. Jeremy negotiated the deal with Mr. Snider, organized and prepared the catalogue, acted as intermediary to potential buyers and of course lived, died and lived again as the sale progressed. The concensus of all parties is "optimism deferred." From a literate group I'd expect nothing less complex.

The superb but narrow material in this sale was very early and important Philadelphiana and divided into five categories: manuscripts, printed books, maps, prints and plate books. W. C. Fields, when referring to death said, "I'd rather be here than in Philadephia" and at least for this recent sale that was also true for some auction bidders. Mr Markowitz described the sale as well attended and mentioned that 72 invoices were issued to winning bidders. Many, if not most, successful bidders were represented by one of the five dealers - Bill Reese, Joe Felcone, Clarence Wolf, Donald Heald and Kenneth Newman who attended and bid actively. In this sale they bought most of the material - some for institutions, some for collectors and some for stock. Collectors often walk away on bad days. The dealers who make the market show up.

It helped that Bloomsbury offered extended terms. One dealer privately complained that Bloomsbury's terms were insufficient as the material, while very good, may take a long time to sell. Bloomsbury was generous but ultimately unapologetic.

The sale was one of several high profile auction events in November that foundered but ultimately did no worse, even arguably better, than comparable first tier collectible sales in the modern painting and automobile fields. Paper collectibles, with few exceptions, even at the highest levels now command lower prices. In fact, you can buy the biggest books for the sales taxes paid on the biggest paintings.

The sale contained 375 lots and was estimated at $2.3 - 3.3 million. It brought $1.9 million at hammer and $2.3 million all in. Twenty-three percent of the lots were bought-in [unsold] including seven of the twelve lots with estimates of $50,000 and more. Given that the unsold lots remain for the consignor to some day sell the only real victim was cashflow.

Rare Book Monthly

  • <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>
  • <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

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