• <b>Seth Kaller:</b> Leaves from<br>George Washington's Own Draft <br>of His first Inaugural Address. An Extraordinary Rarity!
    <b>Seth Kaller:</b> Declaration of Independence: Benjamin Tyler 1818 - First Print with Facsimile Signatures.
    <b>Seth Kaller:</b> Thomas Jefferson Signed Act of Contress Authorizing Alexander Hamilton to Complete Famous Portland Maine Lighthouse.
    <b>Seth Kaller:</b> Emanuel Leutze. Silk Flag Banner designed by Leutze, created by Tiffany & Co., and presented to Gen. John A. Dix, 1864.
    <b>Seth Kaller:</b> The "greatest of early American maps … a masterpiece" (Corcoran). Thomas Holme.
    <b>Seth Kaller:</b> Lincoln Summons His Cabinet for a Historic Meeting to Discuss Compensated Emancipation.
    <b>Seth Kaller:</b> Albert Einstein. Autograph Letter Signed. Einstein Counsels His Son ... Meaning of Life.
    <b>Seth Kaller:</b> Normal Rockwell. Painting/Drawing Signed. Rockwell's "Barbeshop Quartet", 1936.
    <b>Seth Kaller:</b> Frederick Douglass. Autograph Letter Signed to unknown correspondent. Washington, D.C.
    <b>Seth Kaller:</b> Harry Truman. Autograph Manuscript Notebook for Kansas City Law School Night Class.
    <b>Seth Kaller:</b> Robert E. Lee. Autograph Letter Signed, June 11, 1782. Hours after the Battle of Culpeper Court House, Lee Escapes Again.
    <b>Seth Kaller:</b> George Washington. Letter Signed, as Commander-in-Chief, Continental Army, to Elias Dayton, Headquarters, [Newburgh, N.Y.], June 11, 1782.
  • <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 552. Zoologie. Merian, Maria Sibylla. De Europische insecten ... Estimate 32000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 32. (Horae beatae maria virginis.)-(Hours for use of Paris) presented a lusaige hours of Paris. Gedrucktes Stundenbuch auf Pergament. Estimate 10000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 15. Inkunabeln. Curtius Rufus, Quintus. Third known edition.<br>Estimate 7000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 145. Atlanten - China. Philippe Vandermaelen. Atlas Universel de Géographie Physique, Politique, Statistique et Minéralogique. Estimate 6000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 144. Atlanten. Seutter, Matthäus. Nordenskiöld 283. Phillips 3494. Estimate 4500 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 864. Mulinari, Stefano. Disegni originali d'eccellenti pittori esistenti nella Real Galleria ... <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 864. Mulinari, Stefano. Disegni originali d'eccellenti pittori e
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 29. Reisch, Gregor. Margarita philosophica (with a (m ) addition new timber. Estimate 3000 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 37. Antiphonar. Proprium Officium Defuntoru. Ad versperas. Ana. Estimate 2500 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 11. Einbände. Fünf Werke der lateinischen Klassik. Amsterdam, Blaeu 1630-1632. Estimate 1800 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 87. Zirardini, Gaetano Conte. Comparazione fra le luminose gesta dell'imperatore Carlo V. con quelle dell'imperatore Francesco I. d'Austria. Estimate 1500 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 432. Fische. Couch, Jonathan. A history of the fishes of the British Islands. 4 Bde. Mit 252 handkolor. Estimate 1200 €.
    <b>Jeschke Van Vliet Berlin May 27:</b><br>Lot 950. Arp, Hans. Mondsand. Gedichte. Mit 7 Original-Radierungen von Hans Arp. Estimate 1200 €.
  • <b>19th Century Shop.</b> DARWIN, CHARLES. Iconic signed Darwin photograph "I like this photograph much better than any other which ..."
    <b>19th Century Shop.</b> DARWIN, CHARLES. <i>Autograph Letter Signed</i>. Early Unpublished Darwin letter on the races of man.
    <b>19th Century Shop.</b> WRIGHT, WILBUR. Experiments and Observations in Soaring Flight. Journal of the Western Society of Engineers 8, no. 4 (August, 1903).
    <b>19th Century Shop.</b> EINSTEIN, ALBERT. <i>The Meaning of Relativity.</i> FIRST EDITION IN ENGLISH. Signed and dated Oxford 1931.
    <b>19th Century Shop.</b> GARDNER, ALEXANDER. Antietam Bridge, Maryland. "One of the memorable spots in the history of the war."
  • <b>Skinner Fine Books & Manuscripts <i>online</i> | May 18-26 | skinnerinc.com</b>
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1051: Keller, Helen (1880-1968) Autograph Letter Signed and Cabinet Card, est. $3,000-5,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1108: Washington, George (1732-1799) Military Discharge Signed, Headquarters, Newburgh, New York, 7 June 1783, est. $7,000-9,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1131: Bayes, Jessie (1876-1970) Illuminated Manuscript, <i>Six Poems from Gitanjali by Rabindranath Tagore</i>. London, 1917, est. $15,000-17,000
    <b>Skinner Fine Books & Manuscripts <i>online</i> | May 18-26 | skinnerinc.com</b>
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1144: Darwin, Charles (1809-1882) <i>On the Origin of Species by Means of Natural Selection, or the Preservation of Favoured Races in the Struggle for Life</i>. London: Murray, 1859, est. $60,000-80,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1170: Fossati, Giorgio (1706-1778) <i>Raccolta di Varie Favole Delineate, ed Incise in Rame</i>. Venice: Carlo Pecora, 1744, est. $5,000-7,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1224: Nielsen, Kay (1886-1957) <i>East of the Sun and West of the Moon, Old Tales from the North</i>. London: Hodder & Stoughton, 1914,<br> est. $5,000-7,000
    <b>Skinner Auction | May 18-26:</b> <br>Lot 1284: Audubon, John James (1785-1851) <i>American Flamingo</i>. [from] <i>The Birds of America</i>, New York: Bien, 1860, est. $10,000-15,000

Rare Book Monthly

Articles - January - 2010 Issue

Acquiring in the Dark, Selling in the Light

Jefferson

Jefferson: An internet collector if alive today


By Bruce McKinney

The world of books, manuscripts and ephemera enters a new stage and you can tell it is life changing by the anxiety it causes. What continues to emerge is clarity on the buy-side that is as comforting to buyers as it is discomforting to sellers because it clarifies price, value and rarity. It turns buyers into negotiators and introduces skepticism into relationships that have long been characterized by trust. As a consequence dealers increasingly encounter buyers who know not just the material but its pricing history and expect to acquire it within a logical price range consistent with condition. Such an approach is essential for the collector who pursues a passion and wishes, if not expects, their collection[s] to make economic sense - if not by comparison to stock market investing, at least as a repository of value that can eventually return to the market or be gifted for its tax benefit. Of course, if such purchases are financially unimportant, the acquirer may all but ignore references to fair or appropriate valuation. Most committed collectors however do not intend to waste money, nor do they have unlimited resources, so the emergence of valuation tools significantly alters collector attitude about price. The significance of this change is increased by the steep decline in prices since the 4th quarter of 2008.

Because prices, at auction, for books, manuscripts and ephemera have generally fallen by a third over the past sixteen months the scale of negotiation has moved from the "gentleman's 10%" into the realm of the traditional dealer discount: 20% and beyond. The difference is substantial though there are no rules about it and often no easy way to tell who is discounting, and how much.

The challenge to know who and what is negotiable is significant because perhaps 10% of dealer material has already been reduced, in some cases substantially, while most other dealers have held firm, believing their prices may be possibly high but only when judged in the short term. Even then, among those reducing prices, these reductions are not typically uniform. In other words some inventory may be negotiable while other material is not. As well, for some dealers, their costs may be uncomfortably close to current valuation and this affects their willingness to negotiate. From the acquirer's perspective a seller's cost is irrelevant but it's important to dealers, many of whom refuse to take losses irrespective of current valuation. This creates a mine field for buyers and a dilemma for dealers. What is appropriately priced? Dealers resolve this to some extent with negotiation.

These days the coded language to establish the scale of negotiation is "would you consider an offer?" That's the open door to larger discounts. If a dealer has already reduced their prices they'll explain their position immediately. If they have not they may be willing to talk. While the market is down this approach will be both common and effective. When dealers sense the market is recovering the range of negotiation will narrow.

Rare Book Monthly

  • <b>Bonhams Fine Books and Manuscripts, 8 June 2016, New York</b>
    <b>Bonhams June 8:</b> Lot 1. ARISTOTLE. 384-322 B.C.E. De animalibus [De historia animalium. De partibus animalium. De generatione animalium.] US$ 300,000-500,000.
    <b>Bonhams June 8:</b> Lot 44. ARIOSTO, LUDOVICO. 1474-1533. Orlando Furioso in English Heroical Verse, by John Haringto[n]. [London: Richard Field, 1591.] US$ 70,000-90,000.
    <b>Bonhams June 8:</b> Lot 183. HARRISON, William Henry. Document Signed AS PRESIDENT ("W.H. Harrison"). US$ 40,000-60,000.
    <b>Bonhams June 8:</b> Lot 116. <br>ALI, MUHAMMAD. B.1942. U.S. Passport Signed ("Muhammad Ali") Twice, [Dublin, July 19, 1972].<br>US$ 25,000-35,000.
    <b>Bonhams June 8:</b> Lot 52. Bible In English. [Mearne, Samuel, binder.] The Holy Bible containing the bookes of the Old & New Testament. US$ 25,000-35,000.
    <b>Bonhams June 8:</b> Lot 130. EARHART, Amelia. 1897-1937. Archive of material on the purchase and outfitting of Earhart's Lockheed Electra 10e. US$ 15,000-20,000.
    <b>Bonhams June 8:</b> Lot 85. BURTON, Virginia Lee. 1909-1968. The Little House. Boston: Houghton Mifflin, 1942. US$ 15,000-20,000.
    <b>Bonhams London June 15.</b> Lot 68. CAMERON (Julia Margaret) Kate Keown [No. 5 Of Series of Twelve Lifesized Heads], [1866]. <br>£30,000-50,000.
    <b>Bonhams London June 15.</b> Lot 98. Karl Marx. Das Kapital. Kritik der politischen Oekonomie... Erster Band, FIRST EDITION, 1867.<br>£80,000-120,000.
    <b>Bonhams London June 15.</b> Lot 111. Isaac Newton Autograph manuscript, in English, headed "The Question stated about abstaining from blood". £50,000-70,000.
    <b>Bonhams London June 15.</b> Lot 112. Nobel Prize for discovering isotopes in stable elements, awarded to F.W. Aston in 1922. £200,000-400,000.
    <b>Bonhams London June 15.</b> Lot 140. Kay Nielsen (Prince Bismarck discovering the soldier), 1913. £15,000-20,000.
  • <b>Swann Auction Galleries May 26: Maps & Atlases, Natural History & Color Plate Books.</b>
    <b>Swann Auction Galleries May 26:</b> Isaak de Graaf, manuscript map of Java, ink & watercolor on vellum, 1743. $180,000 to $220,000.
    <b>Swann Auction Galleries May 26:</b> Maria Sibylla Merian, <i>Histoire générale des insectes de Surinam</i>,<br>72 hand-colored plates, Paris, 1771. $60,000 to $90,000.
    <b>Swann Auction Galleries May 26:</b> James Gillray, <i>The Plumb-pudding<br>in danger</i>, hand-colored etching, London, 1805. $8,000 to $12,000.
    <b>Swann Auction Galleries May 26: Maps & Atlases, Natural History & Color Plate Books.</b>
    <b>Swann Auction Galleries May 26:</b> Visscher, Composite atlas with 73 maps in original hand-color in full, Amsterdam, after 1716.<br>$20,000 to $30,000.
    <b>Swann Auction Galleries May 26:</b> Mahmud Raif Efendi, <i>Cedid atlas tercümesi</i>, 25 hand-colored maps, Istanbul, 1803-1804.<br>$40,000 to $60,000.
    <b>Swann Auction Galleries May 26:</b> John James Audubon, <i>The Birds of America</i>, 7 volumes, 1839-44. $30,000 to $50,000.
    <b>Swann Auction Galleries May 26: Maps & Atlases, Natural History & Color Plate Books.</b>
    <b>Swann Auction Galleries May 26:</b><br>A.B. Frost, <i>Shooting Pictures</i>, 12 chromolithographs, New York, 1895. $4,000 to $6,000.
    <b>Swann Auction Galleries May 26:</b> John Senex, <i>A New General Atlas</i>,<br>33 engraved maps & town plans, London, 1721. $10,000 to $15,000.
    <b>Swann Auction Galleries May 26:</b> Elihu Barker & Mathew Carey, <i>A Map of Kentucky from Actual Survey</i>, Philadelphia, circa 1794.<br>$10,000 to $15,000.

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