Rare Book Monthly

Articles - February - 2010 Issue

Bookselling - It's a Business: Year and Decade in Review


Susan Halas (left) and Chris Volk.

By Susan Halas & Chris Volk

Many independent booksellers found 2009 was a better than expected year with a stronger than expected finish. It was also marked the end of a decade when everyone and his dog became a bookseller.

The rush to bookselling was not surprising given an economy that turned sour and an occupation with a very low threshold of entry. The field generated as many business models as there were vendors. Some sold on eBay: cited in a 2005 survey as the primary source of income for more than 724,000 Americans. Many focused on Amazon, which launched its Marketplace in 2000 and reported 1.7 million active third party sellers by 2009 (not all of them booksellers).

Others flocked to the more traditional multi-dealers sites like Alibris, AbeBooks and biblio.com. Still others relied strongly on their own independent websites jazzed up with the new social media bells and whistles. With the influx of hordes of newcomers, those who were already established in the field had to work harder and be more creative to stay ahead. The best performers seemed to have a strong on-line presence and an increasingly sophisticated command of the tech repetoire.

Wide range of financials
The variety of business models was not surprising. What was surprising were the range of gross sales, the extremes of volume and the divergent views of the future.

Reported gross revenues started near $0 and escalated though several financial benchmarks. The first breakpoint came under 20K, next stop was mid five figures, then mid sixes, and upward to more rarified climes approaching, or even exceeding $1,000,000. No matter how many dollars were earned and spent almost all of these ventures remained relatively small, independently owned entrepreneurial businesses. Year end reports ran the gamut from major declines to significant increases, particularly in the fourth quarter.

"I was off by 25 percent and anyone who tells you it was different is a liar," said one highly reputable and long established ABAA member, while his colleague, also an ABAA member and almost as long established, reported, "We had a very strong fourth quarter and we're ahead year over year by at least five percent."

"…The best ever." That's how one bookseller classified last year, while another said 2010 looks to be even better based on the first 10 days. Several remarked on it being a great year for buying, while more than one seller noted that they had exceeded their conservative forecasts.

Some of these comments are from a poll in January 2010, when a group of online booksellers (over half of them members of IOBA, the Independent Online Booksellers Association) were surveyed on how things had turned out for the whole year. The results were strongly positive. A year which started out at least moderately affected by the overall economic recession wound up - for some sellers, at least - with substantial gains. Seventy percent of those replying to the follow-up questions reported increases in total sales which ranged, in dollars, from 10% to over 50%.

Not that booksellers were immune to downturn: the January survey was a follow-up to a more narrowly focused one in March 2009. In the original poll, over 50% of the 48 independent and experienced sellers reported a significant decline in the first two months of 2009. Even by the end of the year, 30% were still reporting an overall decrease.

Rare Book Monthly

  • <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Jenner (Rev. George Charles). <i>The Evidence at Large...Respecting Dr Jenner's Discovery of Vaccine Inoculation,</i> presentation copy from Edward Jenner to Rev. Rowland Hill, 1805. £4,000 to £6,000
    <b>Forum Auctions, Mar. 22:</b> Houdini (Harry).- Maggi (Girolamo). <i>De tintinnabulis liber postumus...de equuleo liber,</i> Harry Houdini's copy, Amsterdam, H. Wetstein, 1689. £600 to £800
    <b>Forum Auctions, Mar. 22:</b> Meyer (Henry Leonard). Coloured Illustrations of British Birds, and their Eggs , 7 vol. in 2 plus Illustrations of British Birds, 4 vol., 1842-50 and [1835-51]. £5,000 to £7,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Dickens (Charles). <i>An Entirely New Romantic Drama, in Three Acts, by Mr. Wilkie Collins, called The Frozen Deep,</i> 1857. £3,000 to £4,000
    <b>Forum Auctions, Mar. 22:</b> Lighthouses and Islands of Ireland, c. 125 drawings, 1867. £6,000 to £8,000
    <b>Forum Auctions, Mar. 22:</b> Shelley (Lady Jane). Diary, 1853 & 1860. £1,500 to £2,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Scottish Binding.- The Holy Bible, Containing the Old and New Testaments, bound in contemporary brown polished calf decorated with the figure of a Chinese spearman, by ?James Scott of Edinburgh, 1778. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Greene (Graham). <i>The Man Within,</i> first edition, signed by the author, 1929. £4,000 to £6,000
    <b>Forum Auctions, Mar. 22:</b> Mellan (Claude, 1598-1688). The Holy Face, or the Veil of St Veronica, [c. 1649 and later]. £800 to £1,200
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. March 22, 2018</b>
    <b>Forum Auctions, Mar. 22:</b> Desaguliers (John Theophilus). <i>A Dissertation concerning Electricity,</i> W. Innys, and T. Longman, 1742. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Le Jeune (Paul). <i>Relation de se qui s'est passé en la Nouvelle France en l'anné 1636 enuoyée au R.Pere Provincial de la Compagnie de Iesus en la Province de France,</i> 1637. £2,000 to £3,000
    <b>Forum Auctions, Mar. 22:</b> Stumpf (Johann Rudolph). <i>Gemeiner loblicher Eydgnoschafft Stetten, Landen und Völckern Chronicwirdiger thaaten beschreibung, </i> Zurich, Froschauer, 1586. £3,000 to £4,000
  • <b>Swann Auction Galleries Mar 22: Autographs</b>
    <b>Swann Auction Galleries Mar 22:</b> George Washington, Letter Signed to General James Clinton, preparing for the Sullivan-Clinton Campaign, 1778. $25,000 to $35,000.
    <b>Swann Auction Galleries Mar 22:</b> Thomas Jefferson, Letter Signed, to Major-General Nathanael Greene, promising to send reinforcements against Cornwallis, 1781. $15,000 to $25,000.
    <b>Swann Auction Galleries Mar 22:</b> Thomas Edison, Autograph Letter Signed, to Western Union President William Orton, 1878. $10,000 to $20,000.
    <b>Swann Auction Galleries Mar 22: Autographs</b>
    <b>Swann Auction Galleries Mar 22:</b> William, Bishop of Coventry, vellum charter granting the church of Rochdale to the Cistercian Abbey of Stanlaw, in Latin, 1222. $3,500 to $5,000.
    <b>Swann Auction Galleries Mar 22:</b> FDR, Photograph Signed & Inscribed, framed with wood removed from the White House roof, 1927. $2,500 to $3,500.
    <b>Swann Auction Galleries Mar 22:</b> Jean Dubuffet, archive including many letters written while painting in NYC, 1951-72. $4,000 to $6,000.
    <b>Swann Auction Galleries Mar 22: Autographs</b>
    <b>Swann Auction Galleries Mar 22:</b> Mohandas K. Gandhi, Autograph Letter Signed, describing the source of his patience, 1939. $4,000 to $6,000.
    <b>Swann Auction Galleries Mar 22:</b> Lithograph portrait of Albert Einstein by Hermann Struck, signed by both, 1923. $4,000 to $6,000.
    <b>Swann Auction Galleries Mar 22:</b> Charles The Bold, Duke of Burgundy, Letter Signed to Johann IV of Nassau, in French, 1470. $3,000 to $4,000.
    <b>Swann Auction Galleries Mar 22: Autographs</b>
    <b>Swann Auction Galleries Mar 22:</b> Jean Cocteau, Autograph Letter Signed, in French, 1919. $3,000 to $4,000.
    <b>Swann Auction Galleries Mar 22:</b> Louis Armstrong, two Autograph Letters Signed to Erich Kauffmann, his lip salve purveyor, 1965-70. $1,500 to $2,500.
    <b>Swann Auction Galleries Mar 22:</b> Wernher von Braun, Autograph Letter Signed to Jonathan Cross, 1975. $5,000 to $7,500.
  • <b>Bonhams: Fine Books and Manuscripts. March 9, 2018</b>
    <b>Bonhams, Mar. 9:</b> BEETHOVEN, LUDWIG VAN. Autograph Manuscript sketch-leaf part of the score of the Scottish Songs, "Sunset" Op. 108 no 2. [Vienna, February 1818]. Inscribed by Alexander Wheelock Thayer. $80,000 to $120,000
    <b>Bonhams, Mar. 9:</b> Violin belonging to Albert Einstein, presented to him by Oscar H. Steger, 1933. $100,000 to $150,000
    <b>Bonhams, Mar. 9:</b> EINSTEIN, ALBERT. Autograph Letter Signed ("Papa") to his son Hans Albert, discussing his involvement with the atomic bomb, September 2, 1945. $100,000 to $150,000
    <b>Bonhams: Fine Books and Manuscripts. March 9, 2018</b>
    <b>Bonhams, Mar. 9:</b> HAMILTON, ALEXANDER. Autograph Letter Signed, to Baron von Steuben, with extensive notes of Von Steuben's aide Benjamin Walker, June 12, 1780. $10,000 to $15,000
    <b>Bonhams, Mar. 9:</b> NEWTON, ISAAC. Autograph Manuscript in Latin, being detailed instructions on making the philosopher's stone. 8 pp. 1790s. $200,000 to 300,000
    <b>Bonhams, Mar. 9:</b> 1869 Inauguration Bible of President Ulysses S. Grant. $80,000 to $120,000
  • <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>

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