• <b>Pierre Bergé and Associés in association with Sotheby’s:<br>De la musique avant toute chose… June 28, 2017</b>
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Roland de Lassus. [Songs and madrigals]. Album gathering three collections of secular music for tenor. 15.000-20.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Richard Wagner. <i>Die Meistersinger von Nürnberg.</i> Original edition corrected and annotated by Wagner. 60.000-80.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Claude Debussy. <i>La Damoiselle élue</i>. Lyrical poem, after D.-G. Rossetti. Limited edition of 160 copies. 6.000-8.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s:<br>De la musique avant toute chose… June 28, 2017</b>
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Stéphane Mallarmé. Handwritten notebook made by Geneviève Mallarmé. No place or date [circa 1910]. 10.000-15.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Henri Sauguet. <i>Les Forains</i>. Ballet. Reduction for piano. Original edition. 20.000-30.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Athanasius Kircher. <i>Musurgia Universalis sive Ars Magna Consoni et Dissoni in X. Libros digesta.</i> 1650. 30.000-40.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s:<br>De la musique avant toute chose… June 28, 2017</b>
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> François Villon, & Clément Marot. <i>Les Œuvres de François Villon de Paris, Reviewed and gathered by Clement Marot.</i> 15.000-20.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Rainer Maria Rilke. <i>Larenopfer</i> (Offrande aux dieux Lares). The second collection of Rainer Maria Rilke, containing ninety poems. 6.000-8.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Paul Éluard. <i>Capitale de la douleur.</i> One of the most beautiful poetic collections from the first surrealist wave. 15.000-20.000 €
    <b>Pierre Bergé and Associés in association with Sotheby’s, Jun 28:</b> Pierre de Ronsard. <i>Les Amours</i> ... newly augmented by him, and commented by Marc Antoine de Muret. 40.000-60.000 €
  • <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>Potter & Potter Auctions, July 8: Rare Books & Manuscripts</b>
    <b>Potter & Potter Auctions July 8:</b><br> Walter Gibson's Complete Run of The Shadow. 48 bound volumes, 1931-44. $8,000-12,000
    <b>Potter & Potter Auctions July 8:</b><br> Frederic Shoberl, The World in Miniature: Hindoostan. 6 volumes. $2,000-4,000
    <b>Potter & Potter Auctions July 8:</b><br> A Rare Copy of the Earliest Chicago Newspaper to Report on the Great Fire of 1871. $6,000-8,000
    <b>Potter & Potter Auctions, July 8: Rare Books & Manuscripts</b>
    <b>Potter & Potter Auctions July 8:</b><br> Broadside Proclamation by Mayor Roswell B. Mason for the Preservation of Good Order Following the Great Fire of 1871. Chicago. $4,000-6,000
    <b>Potter & Potter Auctions July 8:</b><br> Peter Force Engraving of the Declaration of Independence. One page. Scarce and highly collectable. $15,000-20,000
    <b>Potter & Potter Auctions July 8:</b><br> John Quincy Adams. The Jubilee of the Constitution. A Discourse. First edition. Inscribed. 1839. $3,000-5,000
    <b>Potter & Potter Auctions, July 8: Rare Books & Manuscripts</b>
    <b>Potter & Potter Auctions July 8:</b><br> Cuban Revolution: Expedicion y Desembarco del “Granma.” Havana, ca. 1959. With portraits of the Castro brothers & Che Guevara. $150-250
    <b>Potter & Potter Auctions July 8:</b><br> Osuna Ramos. A group of 28 photographs of the Mexican Revolution & aftermath in Mexico City, 1910-1920. 4½ x 6”. $400-600
    <b>Potter & Potter Auctions July 8:</b><br> Charles Bukowski. Hot Water Music. First edition with original signed painting. 1983. $2,000-4,000
    <b>Potter & Potter Auctions, July 8: Rare Books & Manuscripts</b>
    <b>Potter & Potter Auctions July 8:</b><br> Alan Ginsberg. Five Page Autographed Letter. Signed. February 10, 1971. $3,000-5,000
    <b>Potter & Potter Auctions July 8:</b><br> Andy Warhol’s Children’s Book. Featuring 12 color illustrations. Signed 5 times. 1983. $5,000-7,000
    <b>Potter & Potter Auctions July 8:</b><br> Albrecht Durer. The Martyrdom Saint John the Evangelist. Woodcut, 1511 edition. $1,000-2,000
  • <b>Forum Auctions: Online Sale of Cricket Books and Works on Paper. Now through July 5, 2017</b>
    <b>Forum Auctions, now thru Jul 5:</b> Wisden (John). <i>Cricketers' Almanack for 1896</i>, original cloth, 1896. £15,000 to 20,000
    <b>Forum Auctions, now thru Jul 5:</b> Wisden (John). <i>The Cricketers' Almanack for the year 1869</i>, excellent copy of the scarce sixth edition, 1869. £10,000 to 15,000
    <b>Forum Auctions, now thru Jul 5:</b> Wisden (John). <i>Cricketers' Almanack for 1916</i>, with tribute to W.G. Grace by Lord Harris, original cloth, 1916. £5,000 to 6,000
    <b>Forum Auctions: Online Sale of Cricket Books and Works on Paper. Now through July 5, 2017</b>
    <b>Forum Auctions, now thru Jul 5:</b> Lillywhite (Frederick) and Arthur Haygarth. <i>Cricket Scores and Biographies of Celebrated Cricketers</i>, vol. 1 - 16 [a complete run], 1862-2003. £750 to 1,000
    <b>Forum Auctions, now thru Jul 5:</b> Trumper (Victor). Postcard of Victor Trumper, signed by Trumper on image, 1905. £300 to 400
    <b>Forum Auctions, now thru Jul 5:</b> Crombie (Charles). <i>Laws of Cricket</i>, 1907; and 29 others. £150 to 200

Rare Book Monthly

Articles - February - 2009 Issue

Book Prices Plunged Over 20% in 2008

Hammer

Auction prices for books slipped in 2008.


By Michael Stillman


Book prices at auction tumbled sharply in 2008, as the collectible book market fell victim to the steep economic recession. While sales prices, as opposed to listing prices, tend to be obscure for want of a clear, visible record, AE tracked over 220,000 books and related items at auction last year for its AE Bibliographic Database. Those numbers reveal that the median price at auction dropped over $100, from $486 to $384, a decline of 21%. Part of this was a give back of the previous year's 15% increase. Nevertheless, this is the lowest number in the five years AE has been tracking books at auction, still 7% below the previous low mark of $413 in 2004. While that may sound shocking, The S&P stock index fell to ten-year lows in 2008, and even gasoline retreated to 2003 levels. Books are not as volatile as stocks, oil, or real estate, but they are not immune to market conditions, even if this point is not always so plain to see.

The average price at auction dropped a staggering amount - $887 - from the previous year. However, the average price can be skewed by a few very expensive items. The $21.3 million Magna Carta alone added over $100 to the average price in 2007. The median, or midpoint price of 220,000 items tracked, is not subject to such anomalies and, we believe, more accurately reflects the true state of the market.

While the AE does not have sufficient data from years prior to 2004 to provide specific figures, the past two declines in pricing appeared at the beginning of this decade and the previous one. Those corresponded with the post-internet bubble stock crash and the recession that doomed the first Bush administration. There were others before this, and it appears that some of these may have been in the range of the 20% decline we have just seen. If the market flattens out now, the current recession in the book market will be unpleasant but not that unusual. However, if prices continue to fall in 2009, and the trends through December indicate continued deterioration, it is possible we could see the largest decline since the Great Depression. Our records indicate a decline of over 50% at that time.

Sell through rates also implied softness in the market. That rate was 75% in 2007, and between 2004 and 2007 ranged from 74% to 76%. For 2008, it dropped to 71%. Of those that sold, 47% went for over the high estimate, 29% under the low estimate. That represents a 2% shift downward from the prior year's 49%-27% ratio. When unsold items are added to those sold under the low estimate, it shows that almost 50% of the books and related items offered at auction failed to achieve their low estimate. That number was 45% the previous year. Only 33% of all items offered sold for over the maximum, compared to 37% in 2007.

The highest median and average sales were once again achieved at Sotheby's in New York, with a median of $15,000 and an average of $40,782. Those figures were virtually identical to the previous year, but the number of lots offered was less than half. Sixteen houses achieved medians of over $1,000 per lot, including 4 branches of Christie's and Bonham's, 3 of Sotheby's, and one each of Koller, Bloomsbury, Doyle, Swann, and Artcurial Briest. Of these 16, half were located in America (6 in New York, one each in Los Angeles and San Francisco), 4 in London, 3 in Paris, 1 in Zurich. Kiefer auctions of Germany offered the greatest number of lots - 18,790 - while others offering over 10,000 lots were Bloomsbury in London, Bubb Kuyper of the Netherlands, and Swann's in New York.

Rare Book Monthly

  • <b>Sotheby’s London: English Literature, History, Children’s Books and Illustrations, including The Garrett Herman Collection: The Age of Darwin. July 11, 2017</b>
    <b>Sotheby’s, Jul 11:</b> Austen, Jane. Autograph letter, written in the third person, to her niece Anna Austen (later Lefroy), 1812. £80,000 to 100,000
    <b>Sotheby’s, Jul 11:</b> Smith, Adam. <i>An Inquiry Into the Nature and Causes of the Wealth of Nations</i>. London: Printed for W. Strahan; And T. Cadell, 1776. £50,000 to 70,000
    <b>Sotheby’s, Jul 11:</b> Darwin, Charles. <i>On the Origin of Species By Means of Natural Selection, or the Preservation of Favoured Races in the Struggle for Life</i>. John Murray, 1859. £50,000 to 70,000
    <b>Sotheby’s London: English Literature, History, Children’s Books and Illustrations, including The Garrett Herman Collection: The Age of Darwin. July 11, 2017</b>
    <b>Sotheby’s, Jul 11:</b> Dickens, Charles. Autograph draft manuscript of "Mrs Gamp with the Strolling Players,” 1847. £40,000 to 60,000
    <b>Sotheby’s, Jul 11:</b> Shepard, E.H. Two drawings from <i>Winnie-The-Pooh</i> comprising “Why, what’s the matter?” and “He was taking the balloon out…” £40,000 to 60,000
    <b>Sotheby’s, Jul 11:</b> Blake, William. <i>Illustrations of the Book of Job. Invented and Engraved by William Blake. Published as the Act Directs...By William Blake, 8 March 1825</i> [1826]. £20,000 to 30,000
  • <b>Cowan’s Auctions: An Eclectic Collection: The Library of the Late Dr. Ivan Gilbert of Columbus.<br>June 5-26</b>
    <b>Cowan’s, June 5-26:</b> [Voyages and Travel] Churchill's Voyages 1732 - Complete in 6 Volumes.<br>$5,000 - $7,500.
    <b>Cowan’s, June 5-26:</b> [Illustrated] Alice by Salvador Dali, Signed and Limited. $3,000 - $5,000
    <b>Cowan’s, June 5-26:</b> [Literature] The Little Prince - Signed/Limited First French Edition, 1943; #61 of 260. $5,000 - $7,500
    <b>Cowan’s Auctions: An Eclectic Collection: The Library of the Late Dr. Ivan Gilbert of Columbus.<br>June 5-26</b>
    <b>Cowan’s, June 5-26:</b> [Literature] Gone With The Wind, 1st in DJ, May, 1936. $1,500 - $2,500
    <b>Cowan’s, June 5-26:</b> [Literature - Modern Firsts] Rare Henry Miller, Tropic of Cancer, Obelisk Press Paris - 1934. $2,000 - $3,000
    <b>Cowan’s, June 5-26:</b> [[Sporting - Fishing] Rare - Lee Sturges, Salmon Fishing New Brunswick, 1 of 50 Printed - 7 Original Etchings.<br>$4,000 - $6,000
    <b>Cowan’s Auctions: An Eclectic Collection: The Library of the Late Dr. Ivan Gilbert of Columbus.<br>June 5-26</b>
    <b>Cowan’s, June 5-26:</b> [Voyages and Travel - Maritime] Rare Ledyard Account of Cook's Last Voyage, 1783 Hartford, Howes "d".<br>$10,000 - $15,000
    <b>Cowan’s, June 5-26:</b> [Illustrated - Maxfield Parrish] Knave of Hearts, Scribner's, 1st Hardback Edition, 1925 Parrish Illustrations.<br>$750 - $1,000
    <b>Cowan’s, June 5-26:</b> [Bible - Illustrated - Cartography) Massive Dutch Bible, 1682, Contemporary Colored Maps, Working Brass Clasps. $2,500 - $3,500
    <b>Cowan’s Auctions: An Eclectic Collection: The Library of the Late Dr. Ivan Gilbert of Columbus.<br>June 5-26</b>
    <b>Cowan’s, June 5-26:</b> [Women Suffrage - Civil Rights - Autographs] A Unique Extra-Illustrated Life of Susan B. Anthony. $15,000 - $20,000
    <b>Cowan’s, June 5-26:</b> [18th Century French Manuscript] Unpublished History of Belle-Isle-En-Mer, 1754 With Watercolor Illustration.<br>$10,000 - $15,000
    <b>Cowan’s, June 5-26:</b> [Illustrated - Children's - Movable] Wonderful 19th Century Lothar Meggendorfer Moveable Book. $750 - $1,000
  • <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: Inviting Quality Consignments</b>
    <b>Swann Auction Galleries Mar 30:</b> Carte-de-visite album featuring a previously unrecorded image of Harriet Tubman, 1860s. Sold for $161,000.
    <b>Swann Auction Galleries Jun 7:</b> Hovhannes Amira Dadian, first world atlas in Armenian, Venice, 1849. Sold for $37,500.
    <b>Swann Auction Galleries May 16:</b> T.E. Lawrence, <i>Seven Pillars of Wisdom</i>, privately printed edition, inscribed, London, 1926. Sold for $62,500.
    <b>Swann Auction Galleries: Inviting Quality Consignments</b>
    <b>Swann Auction Galleries, Feb 14:</b> 22 large-format photographs from NASA missions, 1965-84. Sold for $43,750.
    <b>Swann Auction Galleries Mar 21: </b> Charles M. Schulz, <i>Here Comes the Big Polar Bear</i>, pen & ink, 4-panel Peanuts comic strip, 1957. Sold for $12,500.
    <b>Swann Auction Galleries May 4:</b> Elliott Erwitt, photograph of JFK & Eisenhower, signed by both, 1960. Sold for $32,500.
    <b>Swann Auction Galleries: Inviting Quality Consignments</b>
    <b>Swann Auction Galleries, Mar 9:</b> John Milton, <i>Paradise Lost</i>, first edition, London, 1668. Sold for $22,500.
    <b>Swann Auction Galleries Mar 30:</b> Frederick Douglass, Autograph Letter Signed to George Alfred Townsend, Washington, 1880. Sold for $100,000.
    <b>Swann Auction Galleries, Jan 26:</b> <i>Les Maîtres de l'Affiche</i>, 5 volumes, Paris, 1896-1900. Sold for $47,500.
    <b>Swann Auction Galleries: Inviting Quality Consignments</b>
    <b>Swann Auction Galleries May 16:</b> James Joyce, <i>Ulysses</i>, first edition, number 724 on handmade paper, Paris, 1922. Sold for $33,750.
    <b>Swann Auction Galleries, Mar 9:</b> Single leaf of the Gutenberg Bible, Mainz, 1455, in a copy of Newton's <i>A Noble Fragment</i>. Sold for $52,500.
    <b>Swann Auction Galleries Apr 27:</b> The Book of Mormon, first edition, Palmyra, NY, 1830. Sold for $52,500.

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