Rare Book Monthly

Articles - November - 2009 Issue

Book Prices Tumble Amid Cutthroat Competition

Walmart898books

Wal-Mart places new titles on sale for $8.98 online.


By Michael Stillman

We are at a moment of momentous change in the book industry. Where it all will play out remains anyone's guess. All we know is that it will soon be very different from what we have known before. Elsewhere in this month's issue of AE Monthly we tackle the court battle of Google vs. Amazon, Microsoft and others over the selling of digital copies of copyrighted books, and the plunging prices of and growing demand for electronic book readers. Here are three more book stories, two involving printed books. In one, Wal-Mart has slashed the price of some new, printed books to amounts so low they are below cost, while HP, the large computer manufacturer, has jumped into the business of print-on-demand books. Meanwhile, Barnes and Noble, the largest bricks and mortar printed book retailer, announced the introduction of their own electronic reader, the Nook, as they try to muscle in on the ebook field. Why all of this interest in the book business? For all the talk of books being in decline, there are a lot of very large companies making big bets on the business. Perhaps they know something?

One of the greatest price wars the book industry has seen broke out when Wal-Mart, tired of watching Amazon sell $10 ebooks, countered by offering selected, popular new titles through Walmart.com for $9.99. These are not ebooks, but hardcover copies, hundreds of pages of ink and paper at less than the price of an ebook. Amazon matched the deal, and Target jumped into the fray announcing they too would offer selected titles at comparable prices. Wal-Mart quickly upped the ante, dropping the price to $8.99, clearly below cost. Amazon matched them. The last we saw, Wal-Mart had inched their price down another penny, to $8.98. Among the new releases offered at this incredible price are books by Stephen King, Michael Crichton, Dean Koontz, Barbara Kinsolver, and - oh my gosh - Sarah Palin.

One can only wonder where this is going. Wal-Mart has the money and the nerves to crush just about anyone on price. However, Amazon is in the midst of enjoying unparalleled prosperity. Optimistic forecasts sent their stock soaring a week ago. Amazon's stock leapt by 26%, reaching an all-time high, finally eclipsing its high water mark of a decade ago at the peak of the internet bubble. However, one group that may not be able to withstand this fierce competition is the independent bookseller. The American Booksellers Association, their voice, has asked the Justice Department to investigate what it considers predatory pricing. Wal-Mart and Amazon may have the deep pockets to sustain this war, but independent sellers, already struggling through this difficult economy, do not have such leeway.

While cutting the price so low might sound like a positive for the printed book, there is a great risk here. Books cannot be sold below cost forever. The large retailers may push publishers for lower costs. Meanwhile, readers may become accustomed to $9 books. Long term, the only way publishers may be able to cut prices, and buyers continue to get books for $9, will be through electronic copies, with no costs for paper and printing. Crazily cheap pricing could prove to be a dagger in the heart of printed books, even if short term it boosts sales.

Rare Book Monthly

  • <center><b> The Library of Pierre Bergé<br>Auction Pierre Bergé & Associés<br>in association with Sotheby’s<br>Paris-Hôtel Drout<br>December 14, 2018<br><br>New York Exhibition<br>Oct. 16 to Oct. 20</b>
    <b>The Library of Pierre Bergé, NY exhibition 10/16 to 10/20:</b> BARTHOLOMEUS ANGLICUS. <i>Le Proprietaire des choses.</i> Lyon, [circa 1484]. 150 000 / 200 000 €
    <b>The Library of Pierre Bergé, NY exhibition 10/16 to 10/20:</b> MONTAIGNE, Michel de. <i>Essais.</i> Bordeaux, 1580. 400 000 / 500 000 €
    <b>The Library of Pierre Bergé, NY exhibition 10/16 to 10/20:</b> PROUST, Marcel. <i>Du côté de chez Swann.</i> Paris, 1914 [1913]. 600 000 / 800 000 €
    <b>The Library of Pierre Bergé, NY exhibition 10/16 to 10/20:</b> MONSTRELET, Enguerrand de. <i>Le Premier [-Tiers] Volume des Cronicques.</i> Paris, circa 1503.<br>300 000 / 400 000 €
  • <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: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Shackleton, Ernest. <i>Aurora Australis.</i> Printed at the sign of 'The Penguins'; East Antarctica, 1908. $70,000 to $100,000
    <b>Bonhams, Sep. 25:</b> Shackleton, Ernest. <i>South Polar Times.</i> 1st edition, limited issue. from the library of Michael Barne. $20,000 to $30,000
    <b>Bonhams, Sep. 25:</b> General Washington's <i>Proceedings of a General Court Martial... of Major General Lee.</i> Philiadelphia, 1778. 100 copies printed for Congress. BOUND WITH: ...Court Martial... of St Clair and ...Schuyler. $25,000 to $35,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> <i>The Voice of the People.</i> Boston, 1754. Rare pamphlet on the Excise Tax. Nathaniel Sparhawk's copy. $4,000 to $6,000
    <b>Bonhams, Sep. 25:</b> Autograph Letter Signed ("S.L. Clemens"), offering extensive hard-earned advice on writing, 5 pp, 1881. $30,000 to $50,000
    <b>Bonhams, Sep. 25:</b> After Fra Egnazio Danti. <i>L'Ultime Parti not:e nel Indie Occid:ntli" [The last known parts of the Western Indies].</i> Painted Map of California, Western Mexico, and Japan. $70,000 to $100,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Ptolemaeus, Claudius. <i>Geographie opus nouissima...</i> 1513. The most important edition of Ptolemy, containing the Admiral's Map. $250,000 to $350,000
    <b>Bonhams, Sep. 25:</b> De Arellano, Don Alonso. Manuscript, his <i>"Relación mui singular y circunstanciada... Capitán del Patax San Lucas,"</i> manuscript copy from the Sir Thomas Phillips collection. $50,000 to $80,000
    <b>Bonhams, Sep. 25:</b> Purchas, Samuel. <i>Purchas his Pilgrimes.</i> First edition. With John Simth's engraved map of Virginia. $70,000 to $100,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Lewis, Meriwether. Contemporary manuscript true copy of his final power of attorney, 1809. $8,000 to $12,000
    <b>Bonhams, Sep. 25:</b> <i>A New Method of Macarony Making, as Practiced at Boston in North America.</i> Mezzotint. London, 1774. $5,000 to $7,000
    <b>Bonhams, Sep. 25:</b> <i>Scientific Base Ball Pitching: A Treatise on the Pitcher, Pitching, Origin and Philosophy of the Curve.</i> Chicago, 1897. $2,000 to $3,000
  • <b>Swann Auction Galleries Oct 16:</b> Jean de Mandeville, <i>Reysen und Wanderschafften durch das Gelobte Land,</i> Strassburg, 1488. $15,000 to $25,000.
    <b>Swann Auction Galleries Oct 16:</b> Titus Livius, <i>Las Quatorze Decadas,</i> Zaragoza, 1520. $3,000 to $5,000.
    <b>Swann Auction Galleries Oct 16:</b> Printed <i>Book of Hours</i> with 20 full-page illustrations, Paris, 1509. $6,000 to $9,000.
    <b>Swann Auction Galleries Oct 16:</b> Jean La Fontaine, <i>Fables Choisies, mises en Vers,</i> first editions, Paris, 1668. $10,000 to $15,000.
    <b>Swann Auction Galleries Oct 16:</b> Giovanni Boccaccio, <i>De las mujeres illustres en romance,</i> Zaragoza, 1494. $20,000 to $30,000.
    <b>Swann Auction Galleries Oct 16:</b> Giovanni Boccaccio, third edition of the first published work of female biography, Louvain, 1487. $15,000 to $25,000.
    <b>Swann Auction Galleries Oct 16:</b> José González Cabrera Bueno, <i>Navegación Especulativa, y Práctica,</i> Manila, 1734. $8,000 to $12,000.
    <b>Swann Auction Galleries Oct 16:</b> Andreas Vesalius, <i>Icones Anatomicae,</i> Munich, Bremer Press, 1934. $4,000 to $6,000.
    <b>Swann Auction Galleries Oct 16:</b> Joseph Boneta y Laplana, <i>Gritos del Purgatorio, y Medios para acallarlos,</i> Manila, 1711. $4,000 to $6,000.

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