• <b>Forum Auctions: Fine Books, Western Manuscripts & Works on Paper. January 25, 2017</b>
    <b>Forum Auctions Jan. 25:</b> Zenobius. Epitome proverbiorum Tarrhaei et Didymi [graece], Florence, [possibly Bartolomeo de' Libri for] Filippo Giunta, [after 23 September] 1497. £15,000 – 20,000
    <b>Forum Auctions Jan. 25:</b> Phalaris. [Phalaridis tyranni Apollonii Philosophi pythagoraei Epistolae [Graece], Venice, Bartholomaeus Pelusius, Gabriel Bracius de Brisighella, Johannes Bissolus and Benedictus Mangius, 18 June, 1498. £10,000 – 15,000
    <b>Forum Auctions Jan. 25:</b> Orpheus. Argonautica. Hymni [graece], Florence, [Bartolomeo de' Libri for] Filippo Giunta, 19 September, 1500. £20,000 – 30,000
    <b>Forum Auctions: Fine Books, Western Manuscripts & Works on Paper. January 25, 2017</b>
    <b>Forum Auctions Jan. 25:</b> Primaleon.- Los tres libros del muy esforçado cavallero Primaleon et Polendos su hermano…, Venice, Giovanni Antonio Nicolini da Sabbio for Giovanni Battista Pederzano, February, 1534. £20,000 – 30,000
    <b>Forum Auctions Jan. 25:</b> Bodoni (Giambattista). Manuale Tipografico, 2 vol., Parma, Giambattista Bodoni, 1818. £8,000 – 12,000
    <b>Forum Auctions Jan. 25:</b> Music. Gafurius (Franchinus). Practica musicae, Brescia, Angelus Britannicus, 23 September, 1497. £10,000 – 15,000
    <b>Forum Auctions: Fine Books, Western Manuscripts & Works on Paper. January 25, 2017</b>
    <b>Forum Auctions Jan. 25:</b> Bonaventura (Saint). A group of three Franciscan mystical texts, [14th century]. £15,000 – 20,000
    <b>Forum Auctions Jan. 25:</b> Boccaccio (Giovanni). Trattatello in laude di Dante, decorated manuscript on paper, Florence, first half of 15th century. £30,000 – 40,000
    <b>Forum Auctions Jan. 25:</b> Greek medical manuscript. Iatrosophion, decorated manuscript on paper, Greece (probably Crete), [first half of 16th century]. £8,000 – 12,000
    <b>Forum Auctions: Fine Books, Western Manuscripts & Works on Paper. January 25, 2017</b>
    <b>Forum Auctions Jan. 25:</b> Heraldry. Nayler (George). Album of coats of arms compiled from the papers of Sir George Nayler, 114 coats of arms, most with manuscript captions. [17th, 18th & early 19th centuries]. £1,500 – 2,000
    <b>Forum Auctions Jan. 25:</b> Zoffany (Johan). Autograph Letter signed to Messrs. Raikes & Co., merchants, 1p. with conjugate blank and address panel, 17th July 1801, "In consequence of an order I received from General Claud Martin…”<br>£500 - 700
    <b>Forum Auctions Jan. 25:</b> Bury (Richard de, Bishop of Durham). Philobiblon...sive de amore librorum, Oxford, Joseph Barnes, 1599.<br>£4,000 – 6,000
  • <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>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>Arader Galleries: Winter 2017 Auction. January 28, 2017</b>
    <b>Arader Galleries Jan. 28:</b> Long-Billed Curlew, Plate 231. John James Audubon. First Edition Robert Havell Aquatint Engraving with Original Hand Color From <i>Birds of America</i>. London, 1827-1838. 37 1/2 x 24 3/4” sheet, 49 1/2 x 37” framed
    <b>Arader Galleries Jan. 28:</b> Summer, or Wood Duck, Plate 206. John James Audubon. First Edition Robert Havell Aquatint Engraving with Original Hand Color From <i>Birds of America</i>. London, 1827-1838. 39 x 25 1/2” inches sheet, 49 1/2 x 37” framed
    <b>Arader Galleries Jan. 28:</b> Fish Hawk or Osprey, Plate 81. John James Audubon. First Edition Robert Havell Aquatint Engraving with Original Hand Color From <i>Birds of America</i>. London, 1827-1838. 38 1/4 x 25 1/4" sheet, 50 x 37” framed
    <b>Arader Galleries: Winter 2017 Auction. January 28, 2017</b>
    <b>Arader Galleries Jan. 28:</b> Great Cinereous Owl, Plate 351. John James Audubon. First Edition Robert Havell Aquatint Engraving with Original Hand Color From <i>Birds of America</i>. London, 1827-1838. 38 x 25” sheet, 50 x 37” framed
    <b>Arader Galleries Jan. 28:</b> A Flying Lizard, Surrounded by Beetles and Other Insects. Herman Henstenburgh, (Hoorn 1667 - 1726). Watercolor and gouache on paper. 7 x 10 1/4" sheet, 13 1/2 x 18 3/4" inches framed
    <b>Arader Galleries Jan. 28:</b> Marco Polo's Sheep (Ovis Poli). Joseph Wolf (1820 - 1899). Pencil and Watercolor, heightened with touches of white. Signed and dated Lower right "J. Wolf 1875". 11 1/4 x 15 1/4" sheet
    <b>Arader Galleries: Winter 2017 Auction. January 28, 2017</b>
    <b>Arader Galleries Jan. 28:</b> Winter Scene in Kamchatka. Attributed to John Webber, R.A. (1751-1793). Oil on Canvas. 25 x 36 1/2" canvas, 30 x 41” framed
    <b>Arader Galleries Jan. 28:</b> Winter River Scene. Cornelius David Krieghoff (1815-1872). Oil on Canvas. 16 x 20” canvas, 25 x 29” framed
    <b>Arader Galleries Jan. 28:</b> Grand Canyon of Arizona from Hermit Rim Road. Thomas Moran (1837-1926). Chromolithograph. New York: Atcheson, Topeka and Sante Fe Railway System, 1913. Printed by American Lithographic Co. 31 3/4 x 41 1/2" sheet
    <b>Arader Galleries: Winter 2017 Auction. January 28, 2017</b>
    <b>Arader Galleries Jan. 28:</b> Occidentalis Americae Partis... Theodore de Bry (1528-1598). Engraved Map. Frankfurt, 1594. 13 1/4 x 17 1/2" sheet, 24 1/2 x 29” framed
    <b>Arader Galleries Jan. 28:</b> Nouveau Monde. Nicolas De Nicolai (1517-1583). Engraved map. Amsterdam, 1602. 12 x 15 1/2"
    <b>Arader Galleries Jan. 28:</b> Typus Universalis Terrae... Petrus Apianus (1495-1552) & Reiner Gemma Frisius (1508-1555). Engraved map. Basel: Reisch, 1583. 8 1/4 x 12” sheet

Rare Book Monthly

Articles - February - 2010 Issue

Book Auction Prices Declined in 2009...<i>But...</i>

Hammer2009

Book prices at auction inched down in 2009.


By Michael Stillman

A detailed look at book auction results for 2009 reveals that virtually every important number was down. The most telling number - median sales price - was down. Sell through rates were down. The ratio of items sold above the high estimate to those sold below the low estimate was down. The number of auctions held and number of items offered were down. So why are we celebrating these seemingly woeful results? The answer is that these declines, particularly in terms of median price, were surprisingly small. We expected a much steeper decline, but the drop in median price from 2008 to 2009 was only 2%. Compare that to the previous year's drop of 21%. It doesn't sound so bad after all.

The median price for books at auction for 2009 was $376, a drop of $8 from the $384 median of 2008. Last year, the median price had dropped $102 from the $486 median of 2007. We believe this relatively minor drop is a sign that the market has bottomed out, and may even be starting to rebound. Median prices were actually much stronger year to year in the fourth quarter of 2009. They rose by $21 from the fourth quarter prices of 2008. We would not be at all surprised to see sales prices begin to rebound in 2010, provided there is not another serious dip in the economy.

This past year we found 468 auctions offering 207,521 lots. That slipped from 476 auctions and 220,798 lots in 2008. Perhaps the most notable decline was in the sell-through percentage. That was off 4%, from the previous year's 71% to 67% for 2009. That is historically a very low sell-through rate as normally around 75% of items offered are sold. That was the sell-through rate in 2007. In 2009, 44% of the items which were sold, sold for above the high estimate. In 2008, that figure was 47%. Items selling below the low estimate were 32% compared to only 29% the previous year. Estimates evidently did not quite adjust as quickly as the market. When items sold below the low estimate are combined with items that did not sell at all, we find that 54% of the items offered failed to achieve a bid of at least the low estimate. That number was just under 50% the previous year.

The largest number of lots sold from a single location went to German house Kiefer Buch und Kunstauktionen with 18,790. They run very large auctions, the number achieved through just 6 sales. Bloomsbury London was next at 17,317 lots over 32 sales, with Dutch auction house Bubb Kuyper and Swann's in New York also selling over 10,000 lots. Auction houses selling over 1,000 items with the highest sell-through rates were Profiles in History from California and National Book Auctions of upstate New York rounding out at 100% (technically, Profiles' sell-through rate was 99.997%). New England Book Auction, as always, was right there with 99%.

The highest median price went to Sotheby's in New York at $11,875. Sotheby's Milan was next at $11,318 on a very small number of lots, while Christie's London also reached five figures at $10,759. A total of 18 houses/locations had mean sales figures over $1,000, including 5 Bonham's locations, 4 of Christie's and Sotheby's, and Doyle, New York, Artcurial Briest, Paris, Swann's, New York, and Jescheke, Berlin. For those with more modest budgets, 6 houses had medians below $100, another 9 between $100 and $200. The highest average sale was at Sotheby's, New York, at $25,726, followed by Christie's, London, at $22,742. Average prices much higher than medians is a sign that some very expensive items were sold by those houses. A single million-dollar item can greatly skew the average price, but has little impact on the median (which is why we use median prices as offering a better representation of market conditions).

Three percent of lots offered went for over $1,000. That's down a point from last year. Once again, Christie's in New York was the leader in this category with 849 items selling for at least four figures. National Book Auctions had the greatest number of inexpensive items, 3,206 lots under $100. They have a lot of interesting and surprising material, so you might want to check them out if your personal finances have not yet experienced a rebound.

If you are subscriber to AE's services at any paid level (Visitor, Research, or Premium), you can check out all seven charts, including detailed information about results from 468 auctions at 76 auction houses. Be sure you are logged in, and then click here.

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>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: 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
  • <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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