• <b>Seth Kaller:</b> Leaves from<br>George Washington's Own Draft <br>of His first Inaugural Address. An Extraordinary Rarity!
    <b>Seth Kaller:</b> Declaration of Independence: Benjamin Tyler 1818 - First Print with Facsimile Signatures.
    <b>Seth Kaller:</b> Thomas Jefferson Signed Act of Contress Authorizing Alexander Hamilton to Complete Famous Portland Maine Lighthouse.
    <b>Seth Kaller:</b> Emanuel Leutze. Silk Flag Banner designed by Leutze, created by Tiffany & Co., and presented to Gen. John A. Dix, 1864.
    <b>Seth Kaller:</b> The "greatest of early American maps … a masterpiece" (Corcoran). Thomas Holme.
    <b>Seth Kaller:</b> Lincoln Summons His Cabinet for a Historic Meeting to Discuss Compensated Emancipation.
    <b>Seth Kaller:</b> Albert Einstein. Autograph Letter Signed. Einstein Counsels His Son ... Meaning of Life.
    <b>Seth Kaller:</b> Normal Rockwell. Painting/Drawing Signed. Rockwell's "Barbeshop Quartet", 1936.
    <b>Seth Kaller:</b> Frederick Douglass. Autograph Letter Signed to unknown correspondent. Washington, D.C.
    <b>Seth Kaller:</b> Harry Truman. Autograph Manuscript Notebook for Kansas City Law School Night Class.
    <b>Seth Kaller:</b> Robert E. Lee. Autograph Letter Signed, June 11, 1782. Hours after the Battle of Culpeper Court House, Lee Escapes Again.
    <b>Seth Kaller:</b> George Washington. Letter Signed, as Commander-in-Chief, Continental Army, to Elias Dayton, Headquarters, [Newburgh, N.Y.], June 11, 1782.
  • <b>19th Century Shop.</b> (DEMOCRATIC CONVENTION, Chicago, 1968). <i>Collection of papers of John M. Bailey, Chairman of the Democratic National Committee, concerning the convention</i>. Various places, 1968.
    <b>19th Century Shop.</b> (ARMSTRONG, NEIL.) VERNE, JULES. <i>A Trip to the Moon.</i> New York: F. M. Lupton, September 9, 1893. Signed by Neil Armstrong, first man to walk on the moon.
    <b>19th Century Shop.</b> KEY, FRANCIS SCOTT. <i>A Celebrated Patriotic Song, the Star Spangled Banner.</i> 1814.
    <b>19th Century Shop.</b> [COLUMBUS, CHRISTOPHER, Amerigo Vespucci ..] Bernardus Albingaunensis .. Dialogo nuperrime edito Genue in 1512.
    <b>19th Century Shop.</b> (WATKINS, TABER &c.). <i>An album of 32 photographs of the Yosemite and American West Various places</i>, c. 1890s
    <b>19th Century Shop.</b> (BATTLE OF CONCORD.) <i>Powder horn used by Minuteman Oliver Buttrick at the Battle of Concord</i>, April 19, 1775.
    <b>19th Century Shop.</b> (CIVIL WAR.) <i>An Extraordinary Confederate Photograph and Autograph Album of Dr. R. L. C. White</i>, 125 original mounted salt prints. 1859-61.
  • <b>Bonhams: Fine Books and Manuscripts. Sept. 21, 2016</b>
    <b>Bonhams Sept. 21:</b> WARREN, JOSEPH. Letter Signed ("Jos Warren") as Chairman of the Committee of Safety. Cambridge, MA, June 4, 1775.
    <b>Bonhams Sept. 21:</b> WHITMAN, WALT. Leaves of Grass. Brooklyn, NY: [for the Author], 1855.
    <b>Bonhams Sept. 21:</b> JEFFERSON, THOMAS. Printed Broadside Signed ("Th: Jefferson") as Secretary of State. Philadelphia, February 12, 1793.
    <b>Bonhams Sept. 21:</b> CELLINI, BENVENUTO. 1500-1571. Autograph Letter Signed ("Beto. Cellini"). [Florence, c.1566].
    <b>Bonhams: Fine Books and Manuscripts. Sept. 21, 2016</b>
    <b>Bonhams Sept. 21:</b> NAPOLEON BONAPARTE. Autograph Manuscript. [c.1795].
    <b>Bonhams Sept. 21:</b> DICKENS, CHARLES. Great Expectations. London: Chapman and Hall, 1861.
    <b>Bonhams Sept. 21:</b> REED, JOHN. To the Honourable House of Representatives of the Freemen of Pennsylvania this Map of the City and Liberties of Phiadelphia With the Catalog of Purchasers is Humbly Dedicated.... [Philadelphia]: engraved by James Smit
    <b>Bonhams Sept. 21:</b> ELIOT, THOMAS STEARNS. The Waste Land. New York: Boni and Liveright, 1922.

Rare Book Monthly

Articles - December - 2008 Issue

Death Defying Success

Bloom.dec

Aspirants and agents following the action


The sale was heavily reserved with most lots set at 80% of low estimate. The majority sold at or just above the reserve suggesting that bidders were often bidding against a reluctant seller rather than against other bidders. This suggests the bidding was thin, a contributing factor for the increasingly insistent auction house requirement that consignors accept lower estimates. If prices go lower, and they probably will, they'll be confirmed in the auction rooms and it will probably be collectors' books that are sold. Few dealers want to be the guinea pig. Price reductions in the upscale book trade are uncommon and most dealers prefer to wait years for prices to rebound. Collectors have other priorities and less patience.

The sale, while focused on Philadelphia, was arguably a group of more specialized sales united by one collector with a single idea. Images did very well. Images are easier to live with, easier to understand and widely appreciated as 'art work.' Images were the strongest component. Maps were inconsistent. One of the world's most important map dealers, Graham Arader, did not bid and his absence was noticeable. Plate books did reasonably well and printed booked less well. The manuscript material was estimated in excess of the tastes and preferences of the professionals who watched while many of the lots in this category were offered and bought in. In this category the consignor had strong opinions about value but those opinions were not shared by those who bid.

Ten of the lots in this sale were acquired at the Frank Siebert sales in 1999 and nine of them sold in this sale. The one unsold lot, number 26, An Historical and Geographical Account of the Province and Country of Pensilvania... by Gabriel Thomas in 1999 brought $40,250 against a high estimate of $26,000. In this sale it was estimated at $50,000 to $60,000 but failed to find a buyer. It was reserved at $40,000. The other nine items sold. They brought, all in, $73,197 in 1999 and $124,200 in 2008, a 6% rate of return. The aggregate hammer estimates were $121,000 to $177,000 and the actual hammer $103,500. The Siebert sale was an early harbinger of rapidly rising prices between 1999 and 2002 and this sale a reminder that prices have since returned to earth orbit.

After the sale Bill Reese pointed out and Graham Arader separately concured, "this sale would have achieved another million dollars a year earlier." "Buyers who stepped up acquired exceptional material at an exceptional discount" according to Mr. Reese. The question is "when will the market return to normal?"

Mr. Reese also pointed out that in this kind of market exceptional cataloguing efforts may be out of place. After all, most lots were bought by experienced professionals who rely on personal examination and experience. For them, a 6-pound catalogue is 5 pounds too many. Auction houses are of course always trying to induce/seduce collectors to bid. Their goal is retail but in this sale it was the primary dealers who stepped in to make the sale a qualified success.

Rare Book Monthly

  • <b>Swann Auction Galleries:</b> Announcing the Fall 2016 Auction Season
    <b>Swann Auction Galleries Nov 1:</b> Autographs
    <b>Swann Auction Galleries Oct 18:</b> Early Printed, Medical, Scientific & Travel Books
    <b>Swann Auction Galleries Nov 10:</b> 19th & 20th Century Literature
    <b>Swann Auction Galleries Dec 8:</b> Maps & Atlases, Natural History & Colored Plate Books
    <b>Swann Auction Galleries Nov 17:</b> Printed & Manuscript Americana
    <b>Swann Auction Galleries Dec 1:</b> Art, Press & Illustrated Books
    <b>Swann Auction Galleries Sep 29:</b> Illustration Art
    <b>Swann Auction Galleries Nov 3:</b> Old Master Through Modern Prints

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