• <b>Announcing a new Books for Sale platform hosted by Biblio</b>
    <b>List your books simultaneously on Rare Book Hub and Biblio</b>
  • <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2017</b>
    <b>Forum Auctions, Sep. 27:</b> Cook (Captain James).- Webber (John) and Marie Catherina Prestel. Four views in the South Seas [bound with] <i>Atlas to accompany Captain James Cook's account of his voyages...</i> £4,000 to £6,000
    <b>Forum Auctions, Sep. 27:</b> Knight (Joseph). <i>On the cultivation of the plants belonging to the natural order of Proteeae</i>, 1809. £2,000 to £3,000
    <b>Forum Auctions, Sep. 27:</b> India & China.- Sonnerat (Pierre). <i>Voyage aux Indes Orientales et a la Chine, fait par ordre du roi, depuis 1774 jusqu'en 1781</i>. £20,000 to £30,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2017</b>
    <b>Forum Auctions, Sep. 27:</b> Mongolia.- Pallas (Peter Simon). <i>Sammlungen Historischer Nachrichten uber die Mongolischen Volkerschaften.</i> £15,000 to £20,000 
    <b>Forum Auctions, Sep. 27:</b> America.- Warre (Henry). <i>Sketches in North America</i>, 1848. £4,000 to £6,000
    <b>Forum Auctions, Sep. 27:</b> Atlases.- <i>English Pilot (The). The Fourth Book. Describing The West-Indian Navigation, from Hudson's Bay to the River Amazones...</i> £4,000 to £6,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2017</b>
    <b>Forum Auctions, Sep. 27:</b> Greece.- Lear (Edward). <i>Views of the Seven Ionian Isles</i>, signed presentation copy from the author to Evelyn Baring, 1863. £3,000 to £4,000
    <b>Forum Auctions, Sep. 27:</b> Lear (Edward).- [Gray (John Edward)]. <i>Gleanings from the Menagerie and Aviary at Knowsley Hall</i>, 1846. £7,000 to £10,000
    <b>Forum Auctions, Sep. 27:</b> Flamsteed (John). <i>Historiae Coelestis</i>, first edition,1712. £20,000 to £30,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2017</b>
    <b>Forum Auctions, Sep. 27:</b> Flamsteed (John). <i>Atlas Coelestis</i>, 1781. £10,000 to £15,000
    <b>Forum Auctions, Sep. 27:</b> Conjuring Posters.- The Steens, American Mystifiers: Originators of Silent Transmission. broadside poster, [probably 1890-1900]. £300 to £500
    <b>Forum Auctions, Sep. 27:</b> Tyndale's Bible.- Bible, English. The newe Testament, Richard Jugge, 1552; sold not subject to return. £10,000 to £15,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2017</b>
    <b>Forum Auctions, Sep. 27:</b> Cook (Captain James).- Webber (John) and Marie Catherina Prestel. Four views in the South Seas [bound with] <i>Atlas to accompany Captain James Cook's account of his voyages to the Pacific Ocean in the years 1776-1780.</i>
    <b>Forum Auctions, Sep. 27:</b> Knight (Joseph). <i>On the cultivation of the plants belonging to the natural order of Proteeae</i>, 1809. £2,000 to £3,000
    <b>Forum Auctions, Sep. 27:</b> India & China.- Sonnerat (Pierre). <i>Voyage aux Indes Orientales et a la Chine, fait par ordre du roi, depuis 1774 jusqu'en 1781</i>. £20,000 to £30,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2017</b>
    <b>Forum Auctions, Sep. 27:</b> Mongolia.- Pallas (Peter Simon). <i>Sammlungen Historischer Nachrichten uber die Mongolischen Volkerschaften.</i> £15,000 to £20,000 
    <b>Forum Auctions, Sep. 27:</b> America.- Warre (Henry). <i>Sketches in North America</i>, 1848. £4,000 to £6,000
    <b>Forum Auctions, Sep. 27:</b> Atlases.- <i>English Pilot (The). The Fourth Book. Describing The West-Indian Navigation, from Hudson's Bay to the River Amazones...</i> £4,000 to £6,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2017</b>
    <b>Forum Auctions, Sep. 27:</b> Greece.- Lear (Edward). <i>Views of the Seven Ionian Isles</i>, signed presentation copy from the author to Evelyn Baring, 1863. £3,000 to £4,000
    <b>Forum Auctions, Sep. 27:</b> Lear (Edward).- [Gray (John Edward)]. <i>Gleanings from the Menagerie and Aviary at Knowsley Hall</i>, 1846. £7,000 to £10,000
    <b>Forum Auctions, Sep. 27:</b> Flamsteed (John). <i>Historiae Coelestis</i>, first edition,1712. £20,000 to £30,000
    <b>Forum Auctions: Fine Books, Manuscripts and Works on Paper. September 27, 2017</b>
    <b>Forum Auctions, Sep. 27:</b> Flamsteed (John). <i>Atlas Coelestis</i>, 1781. £10,000 to £15,000
    <b>Forum Auctions, Sep. 27:</b> Conjuring Posters.- The Steens, American Mystifiers: Originators of Silent Transmission. broadside poster, [probably 1890-1900]. £300 to £500
    <b>Forum Auctions, Sep. 27:</b> Tyndale's Bible.- Bible, English. The newe Testament, Richard Jugge, 1552; sold not subject to return. £10,000 to £15,000
  • <b>Sotheby’s: The Library of John & Suzanne Bonham. 26 September in London. Viewing 22-25 September</b>
    Sotheby’s London, Sep. 26:</b> Churchill, Winston S. Two Typed Letters Signed, regarding the British North Greenland Expedition (1952-54). £3,000 to £4,000
    Sotheby’s London, Sep. 26:</b> Bernatz, Johann Martin. <i> Scenes in Ethiopia</i>. London: F.G. Moon, 1852. First edition. £6,000 to £8,000
    Sotheby’s London, Sep. 26:</b> Captain Lawrence Edward Grace Oates. Collection comprising (among other things): documents and pamphlets. £1,500 to £1,800
    <b>Sotheby’s: The Library of John & Suzanne Bonham. 26 September in London. Viewing 22-25 September</b>
    Sotheby’s London, Sep. 26:</b> Darwin, Charles, and Philip Parker King, and Robert FitzRoy. <i> Narrative of the Surveying Voyages of His Majesty's Ships Adventure and Beagle Between the Years 1826 and 1836…</i> £15,000 to £20,000
    Sotheby’s London, Sep. 26:</b> Spratt, Thomas A.B., and Edward Forbes. <i>Travels in Lycia, Milyas, and the Cibyratis</i>. London: John Van Voorst, 1847. £800 to £1,200
    Sotheby’s London, Sep. 26:</b> Richardson, John. <i>Arctic Searching Expedition: A Journal of a Boat-Voyage Through Rupert's Land and the Arctic Sea, In Search of Sir John Franklin</i>. £6,000 to £8,000
  • <b>Swann Auction Galleries Sep 28:</b> Printed & Manuscript Americana</b>
    <b>Swann Auction Galleries Sep 28:</b> Broadside proclaiming the end of the Revolutionary War, NH, 1783. $20,000 to $30,000. 
    <b>Swann Auction Galleries Sep 28:</b> Manuscript medical journal kept by physicians aboard Continental Navy vessels, 1777-88. $20,000 to $30,000.
    <b>Swann Auction Galleries Sep 28:</b> Manuscript notes on sermons heard at Boston's First Church & Old South Church, 1684-1703. $8,000 to $12,000.
    <b>Swann Auction Galleries Sep 28:</b> Printed & Manuscript Americana</b>
    <b>Swann Auction Galleries Sep 28:</b> Missionary archive of Samuel W. and Gideon H. Pond, MN, 1833-93. $30,000 to $40,000. 
    <b>Swann Auction Galleries Sep 28:</b> Captain's journal of a mutinous whaling journey, South Pacific, 1839-46. $8,000 to $12,000.
    <b>Swann Auction Galleries Sep 28:</b> <i>McClees' Gallery of Photographic Portraits ... of the Thirty-Fifth Congress</i>,Washington, 1859. $10,000 to $15,000.
    <b>Swann Auction Galleries Sep 28:</b> Printed & Manuscript Americana</b>
    <b>Swann Auction Galleries Sep 28:</b> Juan de Ugarte, manuscript report on first 16 months of California missions, Mexico, 1699. $12,000 to $18,000
    <b>Swann Auction Galleries Sep 28:</b> Cyanotype albums depicting the construction of the Williamsburg Bridge, New York City, 1897-1903. $4,000 to $6,000.
    <b>Swann Auction Galleries Sep 28:</b> Unrecorded broadside from occupied New York, 1778. $3,000 to $4,000.
    <b>Swann Auction Galleries Sep 28:</b> Printed & Manuscript Americana</b>
    <b>Swann Auction Galleries Sep 28:</b> <i>The Honolulu Merchants' Looking-Glass</i>, first edition, San Francisco, 1862. $6,000 to $9,000.
    <b>Swann Auction Galleries Sep 28:</b> Honorius Philoponus, <i>Nova Typis Transacta Navigatio</i>, first edition, Linz, 1621. $5,000 to $7,500.
    <b>Swann Auction Galleries Sep 28:</b> The Book of Mormon, first edition, Palmyra, NY, 1830. $10,000 to $15,000.

Rare Book Monthly

Articles - June - 2010 Issue

Sotheby's Briefly the Most Valuable Company on Earth

Sothebychart

Sotheby's closing chart for May 6 showed a high price of $100,000 per share.


By Michael Stillman

The venerable auction house of Sotheby's, which began its life as an auctioneer of books, has been a successful business for centuries. Of course, books now constitute a small part of what is offered, but Sotheby's remains a major force in the field. This past year, Sotheby's has been a particularly good to investors. Its stock price has tripled in the last year, from a low of $10 to $30+.

However, sometimes news is a bit too good to be true, even for a strong company such as Sotheby's. On May 6, the stock market went into a chaotic freefall. Almost a month later, no one really knows why. In a matter of minutes, the Dow Jones average dropped almost 1,000 points, only to regain most of its losses a few minutes later. Charts for several reputable companies showed their stocks trading temporarily for huge losses. Intraday trades at losses greater than 60% were cancelled. However, some substantial companies showed their stocks had dipped as low as a penny, though it's doubtful anyone would have made such a trade. Computerized trading can wreak havoc on orderly markets.

Less known is that a few stocks experienced the exact opposite on that strange day. Enter Sotheby's. The stock opened at $34.61, and dropped as low as $27.85 intraday. However, somewhere along the way, the stock price reached an astronomical high (click the thumbnail image above left to see its daily chart for May 6). At its high point, Sotheby's supposedly reached a price of $100,000 per share. $100,000? At that moment, it was the most valuable company on earth. It dwarfed giants like Microsoft, Google, even Exxon. Heck, its value dwarfed the value of all of the major oil companies combined. Its price would have valued the company at $6.7 trillion, a figure higher than any monetary amount save for the U.S. national debt.

Alas, when things are too good to be true, they are too good to be true. After reaching $100,000, a price it is hard to imagine anyone actually paid, the stock settled back to $33 per share at the day's close. Sotheby's investors who purchased a year ago will again have to be content with a return of 200%, rather than one million percent. Easy come, easy go.

Rare Book Monthly

  • <b>Bonhams, Sep. 26:</b> Cook in Tahiti. [Playbill]. [Germany, c.1840.] $3,000 - $5,000
    <b>Bonhams, Sep. 26:</b> Roberts' Sketches in Egypt and Nubia. London, 1846-9. $20,000 - $30,000
    <b>Bonhams, Sep. 26:</b> Breydenbach. Peregrinatio in terram sanctam. Mainz, 1486. $100,000 - $150,000
    <b>Bonhams, Sep. 26:</b> Dürer. Underweysung der messung [and two more]. Nuremberg, 1525-8. $150,000 - $200,000
    <b>Bonhams, Sep. 26:</b> Whitman. Autograph Manuscript [in] The Complete Writings. One of 32 sets. $8,000 - $12,000
    <b>Bonhams, Sep. 26:</b> Columbus. De Insulis nuper in mari Indico repertis. Basel, 1494. $700,000 - $1,000,000
    <b>Bonhams, Sep. 26:</b> The Dr. Hendon M. Harris Jr. Korean Atlas Collection. [Korea; c.1700 to c.1890.] $35,000 - $50,000
    <b>Bonhams, Sep. 26:</b> Aa, Pieter van der. Naaukeurige versameling der gedenk-waardigste zee en land-reysen. Leyden, 1706-8. $8000 - $12,000
    <b>Bonhams, Sep. 27:</b> Russian Kholod 5D67 HFL Rocket Engine. $25,000 - $40,000
    <b>Bonhams, Sep. 27:</b> Neil Armstrong Apollo Era Training Glove. $8,000 - $12,000
    <b>Bonhams, Sep. 27:</b> Large Lunar Near Side Chart, Signed by 20th Century Surface Explorers. $20,000 - $25,000
    <b>Bonhams, Sep. 27:</b> Annotated Photo Album Detailing Alexander Graham Bell's Experiments with Tetrahedral Kites. $50,000 - $80,000
  • <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop:</b> Exodus 10:10 to 16:15. Complete Biblical scroll sheet in Hebrew, a Torah scroll panel. Middle East, ca. 10th or 11th century.
    <b>19th Century Shop:</b> Copernicus Refuted. (Astronomy.). Scientific manuscript of a course of studies at Collège de la Trinité, Lyon. 1660s.
    <b>19th Century Shop:</b> Israel’s War of Independence and the Early Days of the IDF. 58 photographs presented to Israel Ber, IDF officer and later convicted spy.
    <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy.</b>
    <b>19th Century Shop:</b> Early Unpublished Darwin letter on the races of man. Autograph Letter Signed [to Henry Denny]. Down, Kent, June 1, [1844].
    <b>19th Century Shop:</b> Classic Image of American Slavery. Kimball, M. H. <i>Emancipated Slaves</i>. New York: George Hanks, 1863.
    <b>19th Century Shop:</b> (Underground Railroad.) Scaggs, Isaac. Important Runaway Slave Poster: $500 Reward Ran away, or decoyed from the subscriber…
  • <b>Consignments now invited<br>History of Science & Technology<br>December 12th, 2017</b>
    NEWTON, ISAAC. <i>Opticks</i>. London, 1704. Presentation copy to Edmund Halley. Sold for $1,330,000
    Apple Computer Contract & Dissolution of Contract, signed by Jobs, Wozniak, & Wayne. Sold for $1,594,500
    DARWIN, CHARLES. Autograph Manuscript page from the manuscript of <i>On the Origin of Species</i>. Sold for $250,000

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