• <b>Case Antiques: Winter Art and Antiques Auction. January 21, 2017</b>
    <b>Case Antiques Jan. 21:</b> Cassilly Adams, Civil War era watercolor on paper painting of the navy vessel upon which he was stationed: the U.S.S. Osage. $3,000 – 5,000
    <b>Case Antiques Jan. 21:</b> Audubon, John James and John Bachman, <i>The Quadrupeds of North America.</i> New York: V.G. Audubon, 1854. 3 volumes. $2,400 – 3,400
    <b>Case Antiques Jan. 21:</b> Roulstone, George. <i>LAWS OF THE STATE OF TENNESSEE.</i> Printed and published by George Roulstone, Knoxville, (Tennessee), 1803. $2,000 – 3,000
    <b>Case Antiques: Winter Art and Antiques Auction. January 21, 2017</b>
    <b>Case Antiques Jan. 21:</b> Heap, Gwin Harris. <i>CENTRAL ROUTE TO THE PACIFIC, FROM THE VALLEY OF THE MISSISSIPPI TO CALIFORNIA…</i> Philadelphia/London, 1854.<br>$1,800 – 2,200
    <b>Case Antiques Jan. 21:</b> FDR’s personal copy of <i>The Great Smoky Mountains"</i> by Laura Thornborough. Published by Thomas Y. Crowell Company, New York, 1937.<br>$1,500 – 1,800
    <b>Case Antiques Jan. 21:</b> Latour, Arsene Lacarriere. <i>HISTORICAL MEMOIR OF THE WAR IN WEST FLORIDA AND LOUISIANA IN 1814 – 1815. WITH AN ATLAS.</i> Philadelphia, 1816.<br>$1,200 – 1,500
    <b>Case Antiques: Winter Art and Antiques Auction. January 21, 2017</b>
    <b>Case Antiques Jan. 21:</b> [Kennedy Autograph Signature] Kennedy, John F. <i>Profiles in Courage.</i> New York Harper & Brothers, (1956).<br>$1,200 – 1,500
    <b>Case Antiques Jan. 21:</b> Sam Houston signed land document, granting Elias Riddle 100 acres in Bledsoe County, Tennessee "in the grassy cove…" dated February 22, 1828.<br>$1,000 – 1,200
    <b>Case Antiques Jan. 21:</b> "The State of Kentucky with Adjoining Territories" Map, by John Payne, engraved by John Scoles, published by John Low, New York, 1800. $500 – 700
    <b>Case Antiques: Winter Art and Antiques Auction. January 21, 2017</b>
    <b>Case Antiques Jan. 21:</b> Civil War era letter and 4 carte de visites, including Confederate Generals. $300 – 500
    <b>Case Antiques Jan. 21:</b> 12 Bank of East Tennessee Pre Civil War Bills. $350 – 450
    <b>Case Antiques Jan. 21:</b> 2 Early Homeopathy books by Alva Curtis. $300 – 400
  • <b>Now in press: 19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop.</b> <i>The First American Magna Carta. English Liberties.</i> Boston, 1721.
    <b>19th Century Shop.</b> Babbage presentation to Peel, the man who killed the Difference Engine 1832
    <b>19th Century Shop.</b> The Stamp Act. 1765
    <b>Now in press: 19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop.</b> Central Park Photographs by Prevost 1862
    <b>19th Century Shop.</b> Salem Witch Trials. Wonders of the Invisible World 1693
    <b>19th Century Shop.</b> Mammoth print of Millie-Christine, "The Carolina Twins" c. 1868
  • <b>Swann Auction Galleries, Jan 26: Alphonse Mucha & Masters of Art Nouveau: The Harry C. Meyerhoff Collection</b>
    <b>Swann Auction Galleries, Jan 26:</b> Alphonse Mucha, <i>Princezna Hyacinta</i>, 1911. $15,000 to $20,000.
    <b>Swann Auction Galleries, Jan 26:</b><br><i>Les Maîtres de l'Affiche</i>, 5 volumes, Paris, 1896-1900.<br>$35,000 to $50,000.
    <b>Swann Auction Galleries, Jan 26:</b> Alphonse Mucha, <i>Job</i>, 1896.<br>$15,000 to $20,000.
    <b>Swann Auction Galleries, Jan 26: Alphonse Mucha & Masters of Art Nouveau: The Harry C. Meyerhoff Collection</b>
    <b>Swann Auction Galleries, Jan 26:</b> Alphonse Mucha, <i>Bleuze - Hadancourt Parfumeur</i>, circa 1899.<br>$15,000 to $20,000.
    <b>Swann Auction Galleries, Jan 26:</b> Alphonse Mucha, <i>Lygie</i>, 1901. $12,000 to $18,000.
    <b>Swann Auction Galleries, Jan 26:</b> Henri de Toulouse-Lautrec, <i>Babylone d'Allemagne</i>, 1894.<br>$30,000 to $40,000.
    <b>Swann Auction Galleries, Jan 26: Alphonse Mucha & Masters of Art Nouveau: The Harry C. Meyerhoff Collection</b>
    <b>Swann Auction Galleries, Jan 26:</b> Alphonse Mucha, <i>Zodiac / La Plume</i>, 1896. $15,000 to $20,000.
    <b>Swann Auction Galleries, Jan 26:</b> Alphonse Mucha, <i>The Seasons</i>, 4 panels on silk, 1900.<br>$15,000 to $20,000.
    <b>Swann Auction Galleries, Jan 26:</b> Henri de Toulouse-Lautrec, <i>Aristide Bruant dans son Cabaret</i>, 1893. $20,000 to $30,000.
    <b>Swann Auction Galleries, Jan 26: Alphonse Mucha & Masters of Art Nouveau: The Harry C. Meyerhoff Collection</b>
    <b>Swann Auction Galleries, Jan 26:</b> Alphonse Mucha, <i>Monaco / Monte-Carlo</i>, 1897. $12,000 to $18,000.
    <b>Swann Auction Galleries, Jan 26:</b> Alphonse Mucha, <i>Medee / Sarah Bernhardt</i>, 1898. $12,000 to $18,000.
    <b>Swann Auction Galleries, Jan 26:</b> Henri de Toulouse-Lautrec, <i>Confetti</i>, 1894. $40,000 to $60,000.
  • <b>Bonhams: History of Science and Technology. December 7, 2016</b>
    <b>Bonhams Dec. 7:</b> EINSTEIN, ALBERT. <i>Die Grundlage der allgemeinen Relativitätstheorie.</i> Leipzig: Johann Ambrosius Barth, 1916.<br>$80,000 – 120,000
    <b>Bonhams Dec. 7:</b> NEWTON, ISAAC. Autograph Manuscript in English, Signed Integrally ("Isaac Newton"). $50,000 – 70,000
    <b>Bonhams Dec. 7:</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>. London: John Murray, 1859. $25,000 – 35,000
    <b>Bonhams: History of Science and Technology. December 7, 2016</b>
    <b>Bonhams Dec. 7:</b> NEWTON, ISAAC. <i>The Mathematical Principles of Natural Philosophy.</i> London: Benjamin Motte, 1729.<br>$20,000 – 30,000
    <b>Bonhams Dec. 7:</b> HEISENBERG, WERNER. Autograph Manuscript entitled "<i>Entwicklung der Theorie der Elementarteilche,</i>” [1964].<br>$15,000 – 25,000
    <b>Bonhams Dec. 7:</b> BERNOULLI, DANIEL. <i>Hydrodynamica, sive De viribus et motibus fluidorum commentarii.</i> Strasbourg: Johann Heinrich Decker for Johann Reinhold Dulsecker, 1738. $5,000 – 7,000
    <b>Bonhams: Voices of the 20th Century. December 7, 2016</b>
    <b>Bonhams Dec. 7:</b> [TARKOVSKY, ANDREI ARSENIEVICH.] STRUGATSKY, BORIS AND ARKADY. Typed Manuscript for <i>Stalker</i>, being the director's working script, 1977. $150,000 – 200,000
    <b>Bonhams Dec. 7:</b> HEMINGWAY, ERNEST. Typed Manuscript of "Marlin Off the Morro: A Cuban Letter," n.p., [1933]. $30,000 – 50,000
    <b>Bonhams Dec. 7:</b> SALINGER, JEROME DAVID. 4 Autograph Letters, 2 of which Signed ("Jerry") and 6 Typed Letters, 2 of which Initialed ("J"). $30,000 – 50,000
    <b>Bonhams: Voices of the 20th Century. December 7, 2016</b>
    <b>Bonhams Dec. 7:</b> PASTERNAK, BORIS LEONIDOVICH. Typed Manuscript Carbon, "Doktor Zhivago," with some typed corrections, Moscow, 1948. $30,000 – 50,000
    <b>Bonhams Dec. 7:</b> MILNE, ALAN ALEXANDER. Autograph Manuscript Signed 3 times ("A.A. Milne"), entitled "Peace with Honour: An Enquiry into the War Convention," 1934.<br>$30,000 – 50,000
    <b>Bonhams Dec. 7:</b> FROST, ROBERT. Autograph Manuscript Signed ("Robert Frost"), titled "Gold for Christmas," 1952. $15,000 – 20,000

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>Daniel Crouch Rare Books</b><br>SAXTON, Christopher. <i>The Travellers Guide being the best Mapp of the Kingdom of England and Principality of Wales</i>. London, [1583, but c.1716].
    <b>Daniel Crouch Rare Books</b><br>VISSCHER, Claes Jansz. <i>Novissima et Accuratissima Leonis Belgici</i>. Amsterdam, Claes Jansz Visscher, [1611-1621 or later].
    <b>Daniel Crouch Rare Books</b> PTOLEMAEUS, Claudius. <i>Decima Asie Tabula</i>. Ulm, Lienhart Holle, 16 July 1482.
    <b>Daniel Crouch Rare Books</b><br>WIT, Frederick de, and Gerard VALK. <i>Orbis Terrarum Nova et Accurata Tabula</i>. Amsterdam, Gerard Valk, [c.1690-1700].
    <b>Daniel Crouch Rare Books</b><br>APIANUS, Petrus. <i>Astronomicum Caesareum</i>. Ingolstadt, Peter Apian, 1540.
    <b>Daniel Crouch Rare Books</b><br>CASSINI, Jean-Dominique. <i>Carte de la Lune</i>. Paris, Jean-Dominique Cassini, 1787.
    <b>Daniel Crouch Rare Books</b> PTOLEMAEUS, Claudius. <i>Geographicae enarrationis libri octo</i>. Argentoragi, 1525.
    <b>Daniel Crouch Rare Books</b><br>[SAXTON, Christopher]. <i> [An Atlas of England and Wales]</i>. [London, Christopher Saxton, 1579].
    <b>Daniel Crouch Rare Books</b> Commission des sciences et arts d'Egypte. <i>Description de l’Égypte</i>… Paris, Imprimerie impériale - Imprimerie royale, 1809-1828.
    <b>Daniel Crouch Rare Books</b> CHURCHMAN, John. <i>To George Washington President of the United States of America this Magnetic Atlas or Variation Chart is humbly inscribed by John Churchman</i>. Philadelphia, 1790.
    <b>Daniel Crouch Rare Books</b><br>APIANUS, Petrus. <i>Tipus Orbis Universalis</i>. Vienna, Johannes Camertius, 1520.
    <b>Daniel Crouch Rare Books</b><br>LORIOT, A[uguste], [after] Nicolas LANE. <i>[Pocket globe]</i>. London, 65 New Bond Street, 1809.
    <b>Daniel Crouch Rare Books</b><br>BLAEU, Johannes. <i>Grooten Atlas</i>. Amsterdam, Joan Blaeu, 1662-1665.
    <b>Daniel Crouch Rare Books</b><br>INGEBORG BRUN, Emmy. <i>Mars efter Lowell’s Glober 1894-1914</i>. Denmark, [c1915].
    <b>Daniel Crouch Rare Books</b><br>LUTHER, Martin. <i>Der vierde Teil aller Bücher vnd Schrifften des thewren seligen Mans</i>. Gedruckt zu Jhena, Durch Christian Rödinger, 1556.
  • <b>Sotheby’s New York: Alexander Hamilton: An Important Family Archive of Letters and Manuscripts. January 18, 2017</b>
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton's Appointment as Aide-De-Camp to General George Washington. $150,000 – 250,000
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. Correspondence about his reputation as a soldier and a gentleman nearly provoking a duel, 1779. $100,000 -150,000
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. The earliest surviving love letter from Hamilton to his future wife Elizabeth Schuyler. $40,000 – 60,000
    <b>Sotheby’s New York: Alexander Hamilton: An Important Family Archive of Letters and Manuscripts. January 18, 2017</b>
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. Autograph letter signed to Elizabeth Schuyler; a love letter that also announces the arrival of French General Rochambeau. $15,000 – 20,000
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. Autograph letter to Elizabeth Schuyler, announcing the treason of Benedict Arnold. $35,000 – 50,000
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. Autograph letter signed to Elizabeth Hamilton, announcing that the army is preparing to engage Cornwallis in Virginia. $30,000 – 50,000
    <b>Sotheby’s New York: Alexander Hamilton: An Important Family Archive of Letters and Manuscripts. January 18, 2017</b>
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. Autograph letter draft to John Jay, concerning his lawsuit against Lewis Littlepage and Henry Brockholst Livingston. $10,000 – 15,000
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. Autograph notes prepared for President Washington's third annual message to congress. $15,000 – 25,000
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. A prevously unrecorded autograph draft of Pacificus essay no. VI.<br>$300,000 – 500,000
    <b>Sotheby’s New York: Alexander Hamilton: An Important Family Archive of Letters and Manuscripts. January 18, 2017</b>
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. Autograph letter draft to an unnamed recipient (but possibly Jeremiah Wadsworth), regarding the presidential election of 1796. $25,000 – 35,000
    <b>Sotheby’s New York Jan 18:</b><br>Philip Hamilton. Autograph letter signed to his father, Alexander Hamilton, ("Dear Papa"), discussing his schooling and his desire to be "a good man." $8,000 – 12,000
    <b>Sotheby’s New York Jan 18:</b> Alexander Hamilton. Two autograph memoranda, one with a diagram, planning the gardens at the grange. $15,000 – 25,000
  • <b>Seth Kaller:</b> “America the Beautiful”
    <b>Seth Kaller:</b> George Washington, Tongue-in-Cheek, Writes James McHenry About His Wife or Mistress—But Funding the Continental Army is the Real Topic
    <b>Seth Kaller:</b> Young’s Map of the United States
    <b>Seth Kaller:</b> President Lincoln & His Most Profitable Client, the Illinois Central Railroad
    <b>Seth Kaller:</b> Lincoln Thanks Former Pro-Slavery and Newly Republican Congressman for a Fiery Anti-Slavery Speech at a Philadelphia Campaign Rally
    <b>Seth Kaller:</b> “A Visit From St. Nicholas” - great association copy inscribed by Clement C. Moore
    <b>Seth Kaller:</b> Einstein Agrees to Allow “a Short Book on the Hydrogen Bomb” to Use His Statement Made on Eleanor Roosevelt’s TV Show
    <b>Seth Kaller:</b> The Building Blocks of Albert Einstein’s Creative Mind
    <b>Seth Kaller:</b> A Unique Manuscript Map of Block Island Sound Including Fisher’s and Gardiner’s Islands, the Hamptons, and Montauk Point
    <b>Seth Kaller:</b> J.R.R. Tolkien Writes his Proofreader with a Lengthy Discussion of the Lord of the Rings, Including Criticism of Radio Broadcasts of his Work
    <b>Seth Kaller:</b> Six Benjamin Franklin Signed Receipts – Including his Earliest Obtainable Autograph — Acknowledging a Donation to the Famous Library Company He Founded, and Five Payments for His Pennsylvania Gazette
    <b>Seth Kaller:</b> Sherman Dishes on Lincoln & Thomas, Meade, Sheridan, Halleck & Grant

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