• <b>Skinner Fine Books & Manuscripts: Books & Manuscripts Online Auction. May 23 - June 2, 2017</b>
    <b>Skinner Auction May 23 - Jun 2:</b> Andrew Wyeth, an archive of 43 unpublished letters. $80,000-120,000 [lot 1106]
    <b>Skinner Auction May 23 - Jun 2:</b> Abraham Lincoln, signed document granting pensions to surviving Revolutionary War Veterans, 1865. $60,000-80,000 [lot 1058]
    <b>Skinner Auction May 23 - Jun 2:</b> Forlani Map of North America, 1566. $40,000-60,000 [lot 1555]
    <b>Skinner Fine Books & Manuscripts: Books & Manuscripts Online Auction. May 23 - June 2, 2017</b>
    <b>Skinner Auction May 23 - Jun 2:</b> <i>Journal des Dames et des Modes</i>, 1912-1914. $4,000-6,000 [lot 1294]
    <b>Skinner Auction May 23 - Jun 2:</b> Book of Hours, Use of Rouen, late 14th Century. $30,000-40,000 [lot 1162]
    <b>Skinner Auction May 23 - Jun 2:</b> Schedel, World Map, 1493. $5,000-7,000 [lot 1589]
    <b>Skinner Fine Books & Manuscripts: Books & Manuscripts Online Auction. May 23 - June 2, 2017</b>
    <b>Skinner Auction May 23 - Jun 2:</b> Sir Isaac Newton’s copy of <i>Le Grand’s Institutio Philosophiae</i>, 1675. $5,000-7,000 [lot 1308]
    <b>Skinner Auction May 23 - Jun 2:</b> Muhammad Mu'min Husaini’s Tuhfat al-Mu'minin, 17th century Persian medical manuscript on paper. $4,000-6,000 [lot 1118]
    <b>Skinner Auction May 23 - Jun 2:</b> Persian Calligraphy, an album. $4,000-6,000 [lot 1119]
    <b>Skinner Fine Books & Manuscripts: Books & Manuscripts Online Auction. May 23 - June 2, 2017</b>
    <b>Skinner Auction May 23 - Jun 2:</b> Edgar Allan Poe, <i>Tales</i>, New York: Wiley & Putnam, 1845. $3,00-5,000 [lot 1361]
    <b>Skinner Auction May 23 - Jun 2:</b> English New Testament, Douay-Rheims, 1582, first edition. $10,000-15,000 [lot 1154]
  • <b>Fonsie Mealy Auctioneers: Rare Books, Literature & Sporting Collectibles. May 30, 2017</b>
    <b>Fonsie Mealy May 30:</b> Joyce (James), An Original Manuscript Page of text from <i>Finnegan’s Wake</i>, the opening of the Anna Livia Plurabelle section. €7,500-10,000
    <b>Fonsie Mealy May 30:</b> Joyce (James), <i>Chamber Music,</i> 1907. First Edition of his First Book, First Issue. €1,500-2,000
    <b>Fonsie Mealy May 30:</b> Lady Gregory’s Copy Signed by W.B. Yeats, Cuala Press: Yeats (W.B.), <i>Poems Written in Discouragement</i>, 1913. Limited to 50 Copies Only. €2,500-4,000
    <b>Fonsie Mealy Auctioneers: Rare Books, Literature & Sporting Collectibles. May 30, 2017</b>
    <b>Fonsie Mealy May 30:</b> A Twentieth Century Masterpiece: O’Brien (Flann), <i>At Swim-Two-Birds</i>, 8vo, 1939. First Edn. €1,750-2,500
    <b>Fonsie Mealy May 30:</b> The Missing Log of the H.M.S. Liffey Manuscript Journal, 1867. €1,500-2,000
    <b>Fonsie Mealy May 30:</b> Exceptionally Rare First Publication: Gregory (Augusta Lady), <i>Over the River: An appeal for aid to a poor parish in South London</i>. 1887. €1,000-1,500
    <b>Fonsie Mealy Auctioneers: Rare Books, Literature & Sporting Collectibles. May 30, 2017</b>
    <b>Fonsie Mealy May 30:</b> Ex. Rare Irish Broadsheet: An Irish Perspective on the Execution of Louis XVI, 1793 Broadsheet with engraving of the event, headed: “Massacre of the French King.” €500-700
    <b>Fonsie Mealy May 30:</b> Original Manuscript Poem, Heaney (Seamus), <i>The Schoolbag</i>. In Memoriam John Hewitt. Signed and dated November 8 1991. €1,000-1,500
    <b>Fonsie Mealy May 30:</b> Sowerby (J.E.), <i>English Botany; or Coloured Figures of British Plants</i>. Ed. by J.T. Boswell Syme. 10 vols, with 1696 hand-coloured plates. €750-1,000
    <b>Fonsie Mealy Auctioneers: Rare Books, Literature & Sporting Collectibles. May 30, 2017</b>
    <b>Fonsie Mealy May 30:</b> Collection of Signed First Editions incl. Francis (Dick), <i>Nerve</i> (London 1964); <i>For Kicks</i> (London 1965); <i>Forfeit</i> (London 1968). €400-500
    <b>Fonsie Mealy May 30:</b> Le Carre (John), <i>The Spy who came in from the Cold</i>, 8vo, 1963, First Edn., with author’s signature tipped in on t.p. €350-500
    <b>Fonsie Mealy May 30:</b> Adams (Richard), <i>Watership Down</i>, 8vo, 1976, First Illustrated Edn., Signed on f.e.p. by Author & Artist, and also signed by Artist on hf. title. €200-300
  • <b>Swann Auction Galleries Jun 7: Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Jun 7:</b><br>Shaw & Nodder, <i>The Naturalist's Miscellany</i>, complete, London, 1789-1813. $10,000 to $15,000.
    <b>Swann Auction Galleries Jun 7:</b> Samuel Baker, <i>A New and Exact Map of the Island of St. Christopher</i>, London, 1753. $20,000 to $30,000.
    <b>Swann Auction Galleries Jun 7:</b> Henry Briggs, <i>The North Part of America</i>, London, 1625. $8,000 to $12,000.
    <b>Swann Auction Galleries Jun 7: Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Jun 7:</b><br>John James Audubon, <i>Herring Gull</i>, CCXCI, hand-colored plate, London, 1836. $7,000 to $10,000. 
    <b>Swann Auction Galleries Jun 7:</b> Montanus & Ogilby, <i>America: Being the Latest, and Most Accurate Description of the New World</i>, London, 1671. $10,000 to $15,000. 
    <b>Swann Auction Galleries Jun 7:</b> Robert Cruikshank, portfolio of 25 watercolors, London, 1830s. $8,000 to $12,000.
    <b>Swann Auction Galleries Jun 7: Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Jun 7:</b> Group of 55 French watercolors depicting the life and deeds of Napoleon, 1800s. $8,000 to $12,000.
    <b>Swann Auction Galleries Jun 7:</b> Aaron & Samuel Arrowsmith, <i>Chart of the Sandwich Islands</i>, London, 1830. $8,000 to $12,000.
    <b>Swann Auction Galleries Jun 7:</b> Herman Moll, <i>A New and Exact Map of the Dominions of the King of Great Britain</i>, London, 1735. $8,000 to $12,000.
    <b>Swann Auction Galleries Jun 7: Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Jun 7:</b> Jacques-Nicolas Bellin,<i> L'Hydrographie Françoise</i>, Paris, circa 1770. $15,000 to $20,000.
    <b>Swann Auction Galleries Jun 7:</b> Joseph Frederick Wallet Des Barres, <i>Charlestown the Capital of South Carolina</i>, London, 1780. $8,000 to $12,000.
    <b>Swann Auction Galleries Jun 7:</b> Arnold Colom, <i>Pascaarte van Nieu Nederlandt</i>, Amsterdam, circa 1658. $7,000 to $10,000.
  • <b>Bubb Kuyper Auctions: Sale of Books, Prints and Manuscripts.<br>May 30 – June 2, 2017</b>
    <b>Bubb Kuyper Auctions May 30:</b> Hobson, R.L. <i>A catalogue of Chinese pottery and porcelain in the collection of Sir Percival David</i> (London, 1934). Est. € 8.000-10.000
    <b>Bubb Kuyper Auctions May 30:</b> Chagall, M. <i>Drawings for the bible</i>. (Paris, 1960). Est. € 1.500-2.500
    <b>Bubb Kuyper Auctions May 30:</b> Zwart, P. [N.K.F.]. <i>Delft kabels</i> (Delft, 1933). Est. € 20.000-30.000
    <b>Bubb Kuyper Auctions: Sale of Books, Prints and Manuscripts.<br>May 30 – June 2, 2017</b>
    <b>Bubb Kuyper Auctions May 30:</b> Zwart, P. [N.K.F.]. <i>Normalieënboekje</i> (Delft, 1924-1926). Est. € 30.000-50.000
    <b>Bubb Kuyper Auctions May 30:</b> [Russian children's books]. Mayakovsky, V. Kem byt'? (What to be?) (Moscow, 1932). Est. € 500-700
    <b>Bubb Kuyper Auctions May 30:</b> [Léger, F.]. Cendrars, B. <i>La Fin du Monde filmée par l'Ange</i> N.-D (Paris, 1919). Est. € 2.000-3.000
    <b>Bubb Kuyper Auctions: Sale of Books, Prints and Manuscripts.<br>May 30 – June 2, 2017</b>
    <b>Bubb Kuyper Auctions May 31:</b><br>La Roche, E. <i>Indische Baukunst</i> (Munich, 1921-1922). Est. € 3.000-5.000
    <b>Bubb Kuyper Auctions May 31:</b> Blume, C.L. <i>Flora Javae nec non insularum adjacentium./ Flora Javae nec non insularum adjacentium </i> (Brussels, 1828). Est. € 7.000-9.000
    <b>Bubb Kuyper Auctions May 31:</b> <i>Description de l'Égypte (…) pendant l'expédition de l'armée francaise</i> (Paris, 1820-1829). Est. € 30.000-50.000
    <b>Bubb Kuyper Auctions: Sale of Books, Prints and Manuscripts.<br>May 30 – June 2, 2017</b>
    <b>Bubb Kuyper Auctions May 31:</b><br>La Fontaine, J. de. <i>Fables choisies, mises en vers </i> (Paris, 1756).<br>Est. € 1.500-2.500
    <b>Bubb Kuyper Auctions May 31:</b> [VOC and WIC]. Pelsaert, F. <i>Ongeluckige Voyagie, Van 't Schip Batavia, Nae de Oost-Indien</i> (Amsterdam, 1647).<br>Est. € 40.000-60.000
    <b>Bubb Kuyper Auctions June 2:</b> Goya y Lucientes, F.J. de. <i>La Taureaumachie </i> (Paris, 1876), 40 etchings and aquatints. Est. € 8.000-10.000

Rare Book Monthly

Articles - February - 2009 Issue

Reality Returns to Bookselling

Decession

The next few years will be difficult


By Bruce McKinney

The median price of books, manuscripts and ephemera, measured across more than 220,000 lots sold at auction in 2008, fell 21% from 2007. The decline, which mostly occurred in the second half, saw the median price for the year fall to levels consistent with 2003 while masking a larger decline that, if sustained in 2009, will carry realizations back to levels last seen in 2000. Dealers and auction houses generally expect further retrenchment and auction houses are lowering estimates and reserves in response. Note: Median price is the midpoint of prices paid and differs from average price that is disproportionately affected by single high value transactions.

Reality in 2009 will now work itself out in public - mainly in the auction rooms where six-hundred fresh lots are posted each day. Should realizations continue to fall such experience will lead to lower expectations. It's a potentially slow and uneven process that may take several years as many online sellers will probably prefer to wait for recovery rather than adjust to a downturn they hope is temporary. They may wait a long time. Even when the economy was strong only a small percentage of old and rare books listed on line sold in any year. In recession, sell-through will further decline. At auction 70 to 76% of all listed items have sold over the past five years.

In what is shaping up as a tumultous year the spreads between auction realizations and online listed prices, which generally have run at a 3 to 2 ratio [$100 on a listing site, $67 at auction], may increase to 2 to 1 [$100 on a listing site versus $50 at auction]. In this scenario auction realizations decline while listing prices, at least short term, hold.

While the book business has unique problems it is also part of the real economy and the economy will be weak for an extended period. This is the eleventh sustained economic downtown [10 recessions, 1 depression] since 1900 * and looks to be neither garden-variety recession nor an absolute depression. Mike Stillman calls it a "decession" or, if you prefer, "repression" and it looks to be five years more or less. The Nobel laureate Paul Krugman, who teaches at Princeton and writes for the New York Times, has recently conveyed a sense of possible abyss. Frank Rich adds this: "While its become a Beltway cliche that America's new young president has yet to be tested, it is past time for us to realize that our own test is also about to begin." The economy is going to get tough and how much room there will be in the lifeboats for books is uncertain.

Historically, in the book business, sales rather than prices decline. In commercial fields that informally set prices based on observation of competitors' prices the variable is time and the rare book business, which is anathema to lowering prices, simply hunkers down. In this economic downturn that strategy is almost certainly not going to work because the economy, in recovery, will experience inflation that returns dollars that buy significantly less. After all binges there are then the headaches.

Rare Book Monthly

  • <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>Bonhams: Fine Books and Manuscripts, Including Illustration Art. June 7, 2017</b>
    <b>Bonhams June 7:</b> The 1936 Nobel Prize Medal for Physics, Presented to Victor Franz Hess for His Discovery of Cosmic Radiation. $300,000 to $500,000
    <b>Bonhams June 7:</b> Sangorski & Sutcliffe: Jewelled Binding. Byron, Lord [George Gordon]. An illuminated manuscript on vellum, being Byron's <i>Ode to Napoleon.</i> $40,000 to $60,000
    <b>Bonhams June 7:</b> Ruscha, Ed. Complete Set of 16 Artist's Books by Ed Ruscha. Various Places: Various Publishers, 1968-1973. All first printings, seven signed or with early inscriptions. $70,000 to $90,000
    <b>Bonhams: Fine Books and Manuscripts, Including Illustration Art. June 7, 2017</b>
    <b>Bonhams June 7:</b> McKenney, Thomas L. and James Hall. <i>History of the Indian Tribes of North America.</i> Fine and unsophisticated subscriber's copy in early state. $40,000 to $60,000
    <b>Bonhams June 7:</b> Williams, Thomas Lanier ("Tennessee Williams"). Producer Charles K. Feldman's file on the production of <i>The Glass Menagerie</i>(Warner Bros., 1950). $30,000 to $50,000
    <b>Bonhams June 7:</b> Lee, Harper. Archive of correspondence including 35 autograph letters signed (mostly "Harper", but a few "H", "H.L." or "Nelle Harper"). $25,000 to $35,000
    <b>Bonhams: Fine Books and Manuscripts, Including Illustration Art. June 7, 2017</b>
    <b>Bonhams June 7:</b> Tocqueville, Alexis de. <i>De la Démocratie en Amérique.</i> First editions of both parts of Tocqueville's classic <i>Democracy In America</i>. $20,000 to $30,000
    <b>Bonhams June 7:</b> Complete set of all periodical publications of The Royal Geographical Society 1831-1948, comprising 203 volumes with thousands of plates and maps, many folding. $20,000 to $30,000
    <b>Bonhams June 7:</b> Alchemy. Loewens and Richard. <i>Universal Medicin ex regulo stellato.</i> Original alchemical manuscript written in German and Latin, ink on paper. $15,000 to $20,000
    <b>Bonhams: Fine Books and Manuscripts, Including Illustration Art. June 7, 2017</b>
    <b>Bonhams June 7:</b> Bray, Anna Eliza. <i>Life of Thomas Stothard, R.A. with Personal Reminiscences.</i> Remarkable 10-volume collection of Stothard's work, expansively extra-illustrated. $12,000 to $18,000
    <b>Bonhams June 7:</b> Algren, Nelson. Producer Charles Feldman's extensive production archive of <i>Walk on the Wild Side</i> (Columbia 1962). $12,000 to $18,000
    <b>Bonhams June 7:</b> Elliot, Daniel Giraud. <i>The New and Heretofore Unfigured Species of the Birds of North America.</i> First edition, one of only 200 copies printed. $10,000 to $15,000
  • <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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