• Old World Auctions (May 4): Lot 18. Blaeu, <i>Nova et Accuratissima Totius Terrarum Orbis Tabula</i>, 1660.<br>Est. $14000-$17000
    Old World Auctions (May 4): Lot 20. Pitt, <i>Nova Totius Terrarum Orbis Geographica ac Hydrographica Tabula</i>, 1680. Est. $9500-$11000
    Old World Auctions (May 4): Lot 65. Ortelius, <i>Americae sive Novi Orbis, Nova Descriptio</i>, 1571. <br>Est. $6000-$7000
    Old World Auctions (May 4): Lot 84. Bailleul, <i>L'Amerique Divisee en Ses Principales Parties</i>, 1752.<br>Est. $19000-$22000
    Old World Auctions (May 4): Lot 99. Sayer & Bennett, <i>The American Military Pocket Atlas</i>, 1776. <br>Est. $10000-$12000
    Old World Auctions (May 4): Lot 269. Reid, <i>Plan of the City of Washington in the Territory of Columbia</i>, 1796. <br>Est. $2750-$3500
    Old World Auctions (May 4): Lot 291. Carleton, <i>Map of Massachusetts Proper</i>, 1801. Est. $12000-$14000
    Old World Auctions (May 4): Lot 378. Keulen, <i>Pas Kaart vande Noord Oost Kust van Cuba en d'Oost Kust van Florida</i>, 1695. Est. $3250-$4000
    Old World Auctions (May 4): Lot 651. Ptolemy/Fries, <i>Tabula Superioris Indiae & Tartariae Maioris</i>, 1541.<br>Est. $3000-$4000
    Old World Auctions (May 4): Lot 688. Wit, <i>Nova Africa Descriptio</i>, 1660.<br>Est. $2750-$3500
    Old World Auctions (May 4): Lot 706. Ortelius, <i>Maris Pacifici</i>, 1589.<br>Est. $8000-$9000
    Old World Auctions (May 4): Lot 727. Audubon, <i>Least Stormy-Petrel</i>, 1836. Est. $1400-$1700
    Old World Auctions (May 4): Lot 741. Bordone, <i>Isolario</i>, 1547.<br>Est. $16000-$19000
    Old World Auctions (May 4): Lot 747. Teesdale, <i>A New General Atlas of the World</i>, 1835. Est. $2000-$2750
    Old World Auctions (May 4): Lot 752. Colton, <i>Colton's Atlas of the World Volume I and II</i>, 1856.<br>Est. $2500-$3250
    Old World Auctions (May 4): Lot 760. Prevost, <i>Histoire Generale des Voyages ... Tome Quatorzieme</i>, 1757. <br>Est. $2400-$3000
  • Christie's: The first four Folios of William Shakespeare’s collected works will be auctioned on 25 May.
    Christie's: The first four Folios of William Shakespeare’s collected works will be auctioned on 25 May.
  • <b>19th Century Shop.</b> LINCOLN, ABRAHAM. <i>A superb collection of manuscripts signed by Lincoln and relics related to Lincoln’s death</i>. Washington, 1864-1865
    <b>19th Century Shop.</b> Rare Relic of the Underground Railroad (1857). <i>$500 Reward Ran away ...</i>
    <b>19th Century Shop.</b> CARTER, SUSANNAH. <i>The Frugal Housewife,</i> (1772) the second American cookbook, plates by Paul Revere.
    <b>19th Century Shop.</b> SCHIRRA, WALTER M.. Icon of the American Space Program. <i>A Complete Set of Schirra’s Flight Log Books (1947-69).</i>
    <b>19th Century Shop.</b> A fine pair of daguerreotypes, one a black nurse holding a white baby, the other the white parents. Maryland, c. 1853.
    <b>19th Century Shop.</b> The Internet. (COMPUTERS.) CERF, VINTON & KAHN, ROBERT. <i>"A Protocol for Packet Network Intercommunication" in IEEE Transactions on Communications.</i>
  • Bonhams Fine Books and Manuscripts, 8 June 2016, New York
    Bonhams June 8: ARISTOTLE.<br>384-322 B.C.E. De animalibus <br>US$ 300,000-500,000.

Rare Book Monthly

Articles - April - 2010 Issue

New York State Considers (Weakened) Auction Regulations

Richardbrodsky

Assemblyman Richard Brodsky submitted New York's auction reform bill.


By Michael Stillman


A significant piece of legislation designed to regulate auctions is working its way through the New York State legislature. While what happens in one out of 50 states in one out of a couple of hundred countries in the world may not sound that important, New York is the auction capital of the United States if not the world. Changes in New York do matter.

The bill, sponsored by Westchester County (just north of New York City) Assemblyman Richard Brodsky, who has been sponsoring consumer-oriented legislation for two decades, is designed to make the auction process more transparent to bidders. While some parts of this bill may be a bit burdensome for auction houses, other parts should be beneficial to bidders. Though we don't know whether the auction houses agree with the provisions, one key area appears to have been sufficiently watered down to perhaps make it palatable to them.

Assemblyman Brodsky's bill, "An act to amend the general business law, in relation to auction requirements," was passed by the New York State Assembly on a vote of 142-1. It seems unlikely, considering the margin, that the New York State Senate would defeat it, the greater risk being it gets bottled up and dies in committee. This has happened before.

In a prior version, the most controversial section of this legislation was one designed to throw light on hidden reserves, and what some call "sham," "phantom," or "chandelier" bidding. This is a process where an auction house starts the bidding at a number below an unannounced reserve price (the reserve being the minimum price at which the auction house will sell the item). If a bidder makes an offer below the reserve, the auction house may then make a higher bid. It's referred to as a "sham" bid as the bidder (the house) has no intention of actually buying the object. The purpose is to drive the bids up to the reserve price or higher. If the bidder thinks he or she is bidding against another real buyer, or just gets caught up in the frenzy, he may place a higher bid than he would if he realized the competing bids were "shams."

The current bill provides several provisions to limit or throw light on this practice, but it does not prohibit it, and a strong transparency provision from the earlier version has been eliminated. Brodsky's legislation requires that auction houses disclose whether an item is subject to a reserve price, though the reserve price need not be disclosed. Once the reserve price has been met, an auctioneer may no longer bid on behalf of a consignor, nor may auctioneer or consignor bid on their own behalf without revealing their status. In other words, no undisclosed "sham" bids once the reserve has been reached. Meanwhile, the reserve price may not be any higher than the minimum estimated price (if there is one).

The piece that was removed from an earlier proposal was a requirement that so-called "sham" bids be identified by the auctioneer as being "for the consignor." This would have prevented undisclosed "sham" bids below the reserve as well as above it. Other bidders would know the price was being pushed up by the auction house, not another true bidder. Under the revised legislation, bids made by the auctioneer below the reserve would not be so identified. Buyers would know that this was a possibility by the announcement that items were subject to a reserve (provided they understood the implications), but would have no way of knowing, on any individual item, whether the bidding was real or "sham" since the "for the consignor" requirement was stripped from the bill.

When the original bill was filed several years ago, it included the following "justification" to require disclosure of all "sham" bidding: "Acceptance of a sham bid by an auctioneer on behalf of an auction house is essentially a deceptive practice. There is no justifiable reason to permit the taking of fake bids without disclosure of this practice to the public. The theatrical benefits created by this practice are far outweighed by the public's right to be informed of the acceptance of such bids during the auction process. This theatrical game playing is akin to pulling the wool over the consumer's eyes. Identification of the acceptance of such bids with the phrase 'for the consignor' would put an end to the chicanery being perpetrated by the auction houses." This wording is no longer mentioned in the current bill. By implication, the current bill continues to allow a certain amount of "chicanery."

Rare Book Monthly

  • <b>Dirk Soulis April 30:</b> Lot 131. After Karl Bodmer (1809-1983) Pehriska-Ruhpa Aquatint. $1500-$2500
    <b>Dirk Soulis April 30:</b> Lot 212. Catlin Snow Show Dance Hand Tinted Lithograph No. 14. $1000-$2000.
    <b>Dirk Soulis April 30:</b> Lot 213: Hurlimann After Bodner Saukie Fox Indians Aquatint. $500-$1000.
    <b>Dirk Soulis April 30:</b> Lot 226: After Karl Bodmer. Dance of the Mandan Indians Aquatint. $1000-$1500.
    <b>Dirk Soulis April 30:</b> Lot 281: Karl Bodmer (1809-1983) Massika and Wakusasse Hand. $750-$1500.
    <b>Dirk Soulis April 30:</b> Lot 244: After Catlin Nah-To-Toh Pa Lithograph, Plus Another. $300-$600.
    <b>Dirk Soulis April 30:</b> Lot 305: History...Indian Tribes N. America, McKenney & Hall, 3. $3000-$5000.
    <b>Dirk Soulis April 30:</b> Lot 316: Catlin, George, "North American Indians," 1841, 2 Vols. $500-$1000.
    <b>Dirk Soulis April 30:</b> Lot 284: Catlin, George, "North American Indians," 1926, 2 Vols. $200-$300.
    <b>Dirk Soulis April 30:</b> Lot 285: Coleson, Miss Ann, "Among the<br>Sioux Indians!" 1864. $500-$1000.
    <b>Dirk Soulis April 30:</b> Lot 289: Heard, L.V.D., Sioux War and Massacres, 1865, First. $400-$800.
    <b>Dirk Soulis April 30:</b> Lot 288: Life of Life of Ma-Ka-Tai-Me-She-Kia-Kiak or Black Hawk, 1834. $400-$800.
  • <b>Ketterer Kunst Hamburg, Rare Books Auction on May 23/24.</b>
    <b>Ketterer Rare Books, May Auction:</b> Mary Stuart. Ms. Parliament document (contemp. copy). 1567. <br>Est: € 2.000
    <b>Ketterer Rare Books, May Auction:</b> Latin and French Book of Hours. About 1480. Est: € 65.000.
    <b>Ketterer Rare Books, May Auction:</b> Book of Hours by Germain Hardouyn. 1533. Est: € 18.000
    <b>Ketterer Rare Books, May Auction:</b> G. P. Gallucci, Theatrum mundi. 1588. Est: € 5.000
    <b>Ketterer Kunst Hamburg, Rare Books Auction on May 23/24.</b>
    <b>Ketterer Rare Books, May Auction:</b> J. Hill, The vegetable system. 1761-75. Est: € 60.000
    <b>Ketterer Rare Books, May Auction:</b> <br>J. Honter, Rudimentorum cosmographicorum libri III. 1549.<br>Est: € 3.000
    <b>Ketterer Rare Books, May Auction:</b> Two terrestrial and celestial globes by J. G. Doppelmayr. 1789 or later. Est: € 40.000
    <b>Ketterer Rare Books, May Auction:</b> <br>G. de Maupassant, Contes choisies. 1891-92. Est: € 6.000
    <b>Ketterer Kunst Hamburg, Rare Books Auction on May 23/24.</b>
    <b>Ketterer Rare Books, May Auction:</b> <br>K. Schwitters, HahnePeter. 1924.<br>Est: € 6.000
    <b>Ketterer Rare Books, May Auction:</b> <br>I. G. Chernikhov, Iakov Georgievich, Arkhitekturnye fantazii. 1933.<br>Est: € 3.000
    <b>Ketterer Rare Books, May Auction:</b> <br>E. Baj, La cravate. 1972. Est: € 3.000
    <b>Ketterer Rare Books, May Auction:</b> <br>H. Bellmer & G. Bataille, Histoire de l'oeil. 1944. Est: € 3.000
  • <b>Swann Auction Galleries May 5: Autographs</b>
    <b>Swann Auction Galleries May 5:</b> Anne & Margot Frank's copy of <i>Grimm's Fairy Tales</i>, in which Anne wrote her own and Margot's name, circa 1940. $20,000 to $30,000.
    <b>Swann Auction Galleries May 5:</b> Albert Einstein, group of 4 letters Signed to Helmut L. Bradt regarding Bradt's emigration to the U.S., one bearing Nazi censor ink stamps, 1939-40. $10,000 to $15,000.
    <b>Swann Auction Galleries May 5:</b> Archive of items from Ludwig Bemelmans to producer Mary K. Frank, concerning <i>The Street <br>Where the Heart Lies</i>, 1959-62. <br>$10,000 to $15,000.
    <b>Swann Auction Galleries May 5: Autographs</b>
    <b>Swann Auction Galleries May 5:</b> Archive of correspondence to<br>Edwin A. Van Valkenburg from President Theodore Roosevelt and members of his family, 1913-21. $6,000 to $9,000.
    <b>Swann Auction Galleries May 5:</b> Oscar Wilde, manuscript notes panning a book on book collecting, circa 1886. $5,000 to $7,500.
    <b>Swann Auction Galleries May 5:</b><br>John Hancock, partly-printed document Signed as Governor of Massachusetts, Boston, 1781.<br>$4,000 to $6,000.
    <b>Swann Auction Galleries May 5: Autographs</b>
    <b>Swann Auction Galleries May 5:</b> Franz Liszt, Autograph Letter<br>Signed to Carl Gille, Rome, 1869. $4,00 to $6,000.
    <b>Swann Auction Galleries May 5:</b> Joseph Conrad, photograph Signed and dated, 1918. $1,000 to $2,000.
    <b>Swann Auction Galleries May 5:</b><br>Two Guns White Calf, photograph postcard Signed with his pictogram, 1929. $800 to $1,200.

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