Rare Book Monthly

Articles - March - 2009 Issue

The World Divides

Abaa.sf

Wet weather did not deter the determined


By Bruce McKinney

At the recent three day ABAA book fair in San Francisco buyers and browsers turned out in substantial numbers to renew their love affair with works on paper. The show, which is first a pre-show dealer-to-dealer event on Friday morning becomes an open-to-the-public free-for-all in the afternoon that lasts into Sunday. The private fair was by all reports quiet, the public fair well attended although the buying at the low end of expectations. The importance of shows for dealers varies from essential to simply useful. For those who needed a big fair it was mostly disappointing. A typical dealer probably spent about $5,000 to exhibit.

As to what a weak show in February in San Francisco in a difficult year may portend for the full year I spoke to several dozen dealers to get their views. These are interesting people, the Niagara Falls tightrope walkers of specialty retail and as you can imagine, united only in their individuality.

No dealer I spoke to sees any reason to be optimistic. "We're part of the real world." And if the group wrote, rather than sold, books the next one might be called "learning to survive the downturn." Every view is wary for the field and cautiously optimistic for themselves. Booksellers are the tough breed that see house fires as an opportunity to roast marshmallows. In truth, there is no money in pessimism so optimism, honestly held or not, is almost automatically expressed to book collectors and the people who write about them. This has always been the case so this year's evident caution is unusual.

The widely held view is that great material sells even in a weak economy. Dealers are less certain they want to sell their best material into a declining market. Most would prefer not to sell it at all. One dealer years ago explained: "I always sell my second-best copy. The best is my copy." Such items are a dealer's IRA; selling them a sign of concern. The good or bad news is that almost everyone feels they have such material. What's less apparent is buyer enthusiasm, confidence and budgets. The tie-breakers may be the competing elements: exceptional copies versus exceptional prices. In a deep downturn it may take reduced prices to sell even the best copies. If the downturn continues, as is now widely expected into 2010 and 2011, dealers may face increasingly painful choices. Near term, dealers appear to be adopting one of three strategies. The first is that "sales will be made." That may mean going out on the road or consigning to auction. One way or another material will be sold. Price is open to discussion. At the other end of the spectrum is the dealer at the show who, with barely concealed frustration explained, "My price is my price and the collector will eventually figure it out." This is a brave but difficult position to maintain. In between, most dealers are hoping for more while expecting less. "We booksellers are just like everyone else. When it's tough on main street we suffer too." While books sound like one category, there are in fact many printed forms, periods, types and quality levels. There are also manuscripts, maps and ephemera. In fact, ephemera dealers, with material starting at $20, were busy throughout the fair. Ken Harrison, who specializes in ephemera, said he reprices material in difficult markets. "Times are tough and prices are down. In many cases I've reduced prices by 20 to 30%." Even so, transactions are down. Bill Ewald, another ephemera dealer was noticeably busy at the fair. Collectors want to buy. Bill and Ken's price points were attractive.

Rare Book Monthly

  • <b>19th Century Shop:</b> Charles Darwin on sexuality and the transmission of hereditary characteristics: Autograph Letter Signed to Lawson Tait. Down, 17 January [1877].
    <b>19th Century Shop:</b> MILTON, JOHN. <i>Paradise Lost. A Poem written in ten books.</i> London: 1667. A very rare example with the contemporary binding untouched and with a 1667 title page.
    <b>19th Century Shop:</b> Hamilton secures the ratification of the Constitution: <i>The Debates and Proceedings of the Convention of the State of New-York, assembled at Poughkeespsie, on the 17th June, 1788.</i>
    <b>19th Century Shop:</b> The social contract “Man is born free, and everywhere he is in chains”: ROUSSEAU, JEAN-JACQUES. <i>Principes du Droit Politique [Du Contract Social]</i>. Amsterdam: Michel Rey, 1762
    <b>19th Century Shop:</b> “The first English textbook on geometrical land-measurement and surveying”: BENESE, RICHARD. <i>This Boke Sheweth the Maner of Measurynge All Maner of Lande…</i>
  • <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Ernst, Max. <i>Mr. Knife and Miss Fork</i>. Paris, 1932. DELUXE EDITION. Sold for $15,625
    <b>Bonhams, June 12 results:</b> Cage, John. Autograph musical leaf from his Concert for Piano and Orchestra, NY, 1958. Sold for $18,750
    <b>Bonhams, June 12 results:</b> Cage, John. Autograph musical leaf from his Concert for Piano and Orchestra, NY, 1958. Sold for $18,750
    <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Einstein, Albert. Signed Passport Photo for his US citizenship application. Bermuda, 1935. Sold for $17,500
    <b>Bonhams, June 12 results:</b> Verard, Antoine. Illuminated printed Book of Hours. Paris, 1507. Sold for $7,500
    <b>Bonhams, June 12 results:</b> Wetterkurzschlussel. German Weather Report Codebook - for Enigma use. Berlin, 1942. Sold for $225,000
    <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Morelos y Pavon, Jose Maria. Autograph letter signed to El Virrey Venegas, February 5, 1812. Sold for $6,250
    <b>Bonhams, June 12 results:</b> Milne, A.A. Complete set of <i>Winnie-the-Pooh</i> books. 4 volumes. All first issue points. London, 1924-1928. Sold for $5,250
    <b>Bonhams, June 12 results:</b> A 48-star American Flag, battle worn flown at Guadalcanal and Peleliu, 1942-1944. Sold for $35,000
    <b>Bonhams, June 12 results:</b> Locke, John. Autograph Letter Signed mourning the death of his friend, William Molyneaux, 2 pp, October 27, 1698. Sold for $20,000
  • <b>Chiswick Auctions: Summer Books. August 22, 2018</b>
    <b>Chiswick Auctions, Aug. 22:</b> Adams (Richard). <i>Watership Down,</i> FIRST EDITION, author inscription on front free end paper, folded map tipped in, original boards, dust-jacket. £800 to £1,200
    <b>Chiswick Auctions, Aug. 22:</b> Bowles (John). <i>Several Prospects of the Most…la Ville de Londres, avec des Remarques Historiques fort Succinctes, qui les Regardant,</i> 20 double page engraved plates only, of 23, 1724. £200 to £300
    <b>Chiswick Auctions, Aug. 22:</b> Auden (W.H.). <i>Our Hunting Fathers,</i> FIRST SEPARATE EDITION, 1 of 22 copies, COPY B OF 5 PRINTED ON NORMANDIE, original patterned wrappers, Cambridge, for Frederic Prokosch, 1935. £800 to £1200
    <b>Chiswick Auctions: Summer Books. August 22, 2018</b>
    <b>Chiswick Auctions, Aug. 22:</b> Barrie (J. M.) & Attwell (Mabel Lucie, illustrator). <i>Peter Pan & Wendy,</i> FIRST EDITION, 12 chromolithograph plates, publisher's blue cloth, original printed dust jacket, [c.1920]; and 3 others (4). £200 to £300
    <b>Chiswick Auctions, Aug. 22:</b> Bartolozzi (Francesco). Genius Calling Forth the Fine Arts to Adorn Manufactures and Commerce; Agriculture (Husbandry Aided by Arts and Commerce), glazed and framed. £200 to £300
    <b>Chiswick Auctions, Aug. 22:</b> A collection of engraved caricatures, including Gillray ([James]) Tales of Wonder!, 1802; Rowlandson (Thomas) Sports, Smock Racing, 1811;Irish Jaunting Carr, 1814. £400 to £600
    <b>Chiswick Auctions: Summer Books. August 22, 2018</b>
    <b>Chiswick Auctions, Aug. 22:</b> Bennett (Charles H, illustrator). <i>Æsop’s Fables,</i> 1875; Buchanan (Robert). <i>Ballad Stories of the Affections,</i> [1866]; Douce (Francis), The Dance of Death, 1833. £200 to £300
    <b>Chiswick Auctions, Aug. 22:</b> Chinese Illustrations. A group of 6 Cantonese rice paper illustrations, depicting scenes of torture with different instruments, gouache, c.340 x 220mm, original wrapper boards preserved, [c. 1800]. £200 to £300
    <b>Chiswick Auctions, Aug. 22:</b> Dulac (Edmund). <i>The Queen of Romania, The Dreamer of Dreams,</i> 5 coloured plates, [1915]; and others illustrated by Edmund Dulac. £300 to £400
    <b>Chiswick Auctions: Summer Books. August 22, 2018</b>
    <b>Chiswick Auctions, Aug. 22:</b> Fronth (Per). Xingu Chronicles, the portfolio, comprising 30 plates, photogravues in colours, each signed, dated and titled in pencil, each numbered 10/35, on wove paper, 790 x 600 x 60mm, 1997. £300 to £400
    <b>Chiswick Auctions, Aug. 22:</b> Pasternak (Boris). <i>Doctor Zhivago,</i> FIRST ENGLISH EDITION, original red publisher’s cloth, pictorial dust jacket, 4to, Collins & Harvill Press, 1958. £200 to £300
    <b>Chiswick Auctions, Aug. 22:</b> 13 sepia photographs of visitors to the Thermes Nationaux d’Aix-les-Bains, c. 150 x 105mm, c.1890 (12). £300 to £400
  • <b>Swann Auction Galleries:</b> Luis de Lucena, <i>Arte de Ajedres,</i> first edition of the earliest extant manual on modern chess, Salamanca, circa 1496-97. Sold for $68,750.
    <b>Swann Auction Galleries:</b> Carte-de-visite album with 83 images of prominent African Americans & abolitionists, circa 1860s. Sold for $47,500.
    <b>Swann Auction Galleries:</b> Gustav Klimt, <i>Das Werk,</i> Vienna & Leipzig, 1918. Sold for $106,250.
    <b>Swann Auction Galleries:</b> Man Ray, <i>[London Transport] – Keeps London Going,</i> 1938. Sold for $149,000.
    <b>Swann Auction Galleries:</b> Thomas Jefferson, Letter Signed, to Major-General Nathanael Greene, promising reinforcements against Cornwallis, 1781. Sold for $35,000.
    <b>Swann Auction Galleries:</b> Nicolas de Fer, <i>L’Amerique Divisee Selon Letendue de ses Principales Parties,</i> Paris, 1713. Sold for $30,000.
    <b>Swann Auction Galleries:</b> Russell H. Tandy, <i>The Secret in the Old Attic,</i> watercolor, pencil & ink, 1944. Sold for $35,000.
    <b>Swann Auction Galleries:</b> Ernest Hemingway, <i>Three Stories & Ten Poems,</i> first edition of the author's first book, Paris, 1923. Sold for $23,750.
    <b>Swann Auction Galleries:</b> Walker Evans, <i>River Rouge Plant,</i> silver print, 1947. Sold for $57,500.

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