Rare Book Monthly

Articles - July - 2010 Issue

What Can John Lennon Tell Us About The Book Market?

Dayinlife

John Lennon's handwritten lyrics to A Day In The Life, courtesy of Sotheby's.


By Michael Stillman

Items in the books, manuscripts and ephemera field do not have to be antiquarian to bring in big money. Indeed, we are witnessing something of a changing of the guard in what is collectible, as personally relevant may be gaining ground on historically significant. It is a point worth understanding in building collections or building inventory to sell to the new collector.

Last month, Sotheby's held a major auction of books and manuscripts. It included signed items by Washington and Lincoln. All told, it took in $2.35 million, with the runner-up piece taking in $218,500. However, the highest priced item topped that by almost $1 million, and took in more than half of the total realized by the entire sale. Rather than being one of the older documents, some of which dated back many centuries, it was one of the newest. Penned in 1967, it was the handwritten original lyrics to John Lennon's A Day in the Life. For those struggling to place it, that's the one that begins "I read the news today, oh boy."

Lennon's handwritten lyrics on a single sheet of paper took in a healthy $1,202,500, well above the estimate of $500,000 - $700,000. One side of the paper has the original draft in cursive, while the other has a neater, printed (in capital letters) rendition. It turns out the initial lyrics were very close to the ones used. Lennon did not do a lot of rewriting.

The similarity between roughly written first lyrics and the actual song may weigh in on the controversy surrounding those lyrics. This song has been analyzed for its deeper meaning as much as anything by Bob Dylan. Who was Lennon really referring to as "blowing his mind out," was the 4,000 holes in Blackburn, Lancashire, referring to needle marks or some other hidden meaning, was "turning you on" a drug reference? Lennon maintained that he picked up the lyrics from some stories he read in the newspaper that day, not because he was trying to pass off some inscrutable hidden messages. The hurried look of the first draft, and lack of substantial changes thereafter, makes one think that Lennon wrote the song as he explained it, not as a vehicle for complex hidden meanings.

Sotheby's also sold another important document last month, and while the results were certainly respectable, they did not blow the estimators away. An early copy of the Declaration of Independence sold for $572,500, just short of the estimate range of $600,000-$800,000. This copy was printed in Salem, Massachusetts, on July 15 or 16 of 1776. News traveled slowly in those days, so it took a little while for the original news to reach Massachusetts, and copies to be printed locally and spread around to the various towns in the Commonwealth.

This was just an isolated event, but there is an interesting comparison between these two auctions. The historic, long highly collectible Declaration of Independence did fine, but not exceptional. The far more recent Lennon document blew everyone away. It did benefit, according to Sotheby's, from having two very determined bidders fighting for it. Still, it is interesting to note that the Declaration, expected to sell for $100,000 more than the Lennon lyrics, sold for $630,000 less, or well under half as much. While the buyer of the latter was not identified, we can presume he or she grew up with Lennon's music, that his life was contemporary to Lennon's. The same clearly cannot be said of the buyer of the Declaration of Independence.

We realize that a couple of random samples do not prove a general case. Nevertheless, there are other examples of buyers bidding up items contemporary to their own lives, rather than that of long ago ancestors. A copy of the first Superman comic sold for $1.5 million earlier this year, and a Batman comic also topped a million. These are hardly works of historic importance, great writing or great art, but they are part of the lives of today's middle age and younger collectors. These people bought comics and Beatles records when they were young, but not copies of the Declaration of Independence. Now, they are collecting the things they know best.

John Lennon taught us about peace and love. Now, perhaps, he is teaching us something about the direction of book collecting.

Rare Book Monthly

  • <b>Swann Auction Galleries:</b> Luis de Lucena, <i>Arte de Ajedres,</i> first edition of the earliest extant manual on modern chess, Salamanca, circa 1496-97. Sold for $68,750.
    <b>Swann Auction Galleries:</b> Carte-de-visite album with 83 images of prominent African Americans & abolitionists, circa 1860s. Sold for $47,500.
    <b>Swann Auction Galleries:</b> Gustav Klimt, <i>Das Werk,</i> Vienna & Leipzig, 1918. Sold for $106,250.
    <b>Swann Auction Galleries:</b> Man Ray, <i>[London Transport] – Keeps London Going,</i> 1938. Sold for $149,000.
    <b>Swann Auction Galleries:</b> Thomas Jefferson, Letter Signed, to Major-General Nathanael Greene, promising reinforcements against Cornwallis, 1781. Sold for $35,000.
    <b>Swann Auction Galleries:</b> Nicolas de Fer, <i>L’Amerique Divisee Selon Letendue de ses Principales Parties,</i> Paris, 1713. Sold for $30,000.
    <b>Swann Auction Galleries:</b> Russell H. Tandy, <i>The Secret in the Old Attic,</i> watercolor, pencil & ink, 1944. Sold for $35,000.
    <b>Swann Auction Galleries:</b> Ernest Hemingway, <i>Three Stories & Ten Poems,</i> first edition of the author's first book, Paris, 1923. Sold for $23,750.
    <b>Swann Auction Galleries:</b> Walker Evans, <i>River Rouge Plant,</i> silver print, 1947. Sold for $57,500.
  • <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>
  • <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> SHAKESPEARE, WILLIAM. <i>The Tragedie of Julius Caesar.</i> London, 1623. 1st appearance in print, Complete from the First Folio. Sold for $175,000
    <b>Bonhams, June 12 results:</b> Ernst, Max. <i>Mr. Knife and Miss Fork</i>. Paris, 1932. DELUXE EDITION. Sold for $15,625
    <b>Bonhams, June 12 results:</b> Cage, John. Autograph musical leaf from his Concert for Piano and Orchestra, NY, 1958. Sold for $18,750
    <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Einstein, Albert. Signed Passport Photo for his US citizenship application. Bermuda, 1935. Sold for $17,500
    <b>Bonhams, June 12 results:</b> Verard, Antoine. Illuminated printed Book of Hours. Paris, 1507. Sold for $7,500
    <b>Bonhams, June 12 results:</b> Wetterkurzschlussel. German Weather Report Codebook - for Enigma use. Berlin, 1942. Sold for $225,000
    <b>Bonhams: September 25, New York</b>
    <b>Bonhams, June 12 results:</b> Morelos y Pavon, Jose Maria. Autograph letter signed to El Virrey Venegas, February 5, 1812. Sold for $6,250
    <b>Bonhams, June 12 results:</b> Milne, A.A. Complete set of <i>Winnie-the-Pooh</i> books. 4 volumes. All first issue points. London, 1924-1928. Sold for $5,250
    <b>Bonhams, June 12 results:</b> A 48-star American Flag, battle worn flown at Guadalcanal and Peleliu, 1942-1944. Sold for $35,000
    <b>Bonhams, June 12 results:</b> Locke, John. Autograph Letter Signed mourning the death of his friend, William Molyneaux, 2 pp, October 27, 1698. Sold for $20,000
  • <b>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Zane Grey, Inscribed photograph album depicting Grey and party at Catalina, fishing, and in Arizona. $700 to $1,000
    <b>Doyle, online only Jul 13-24:</b> Eric Taverner, Salmon Fishing...London: Seeley, Service & Co., 1931. $600 to $900
    <b>Doyle, online only Jul 13-24:</b> The Gentleman Angler. $300 to $500
    <b>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Ken Robinson, Flyfishers' Progress. [London: The Flyfishers' Club, 2000. $200 to $300
    <b>Doyle, online only Jul 13-24:</b> G. H. Lacy, North Punjab Fishing Club Angler's Handbook. Calcutta: Newman & Co., 1890. $300 to $500
    <b>Doyle, online only Jul 13-24:</b> J. Harrington Keene, Fly-Fishing and Fly-Making for Trout, etc. New York, 1887. $200 to $300
    <b>Doyle, online only: Angling Books from the Collection of Arnold "Jake" Johnson. July 13-24, 2018</b>
    <b>Doyle, online only Jul 13-24:</b> Arthur Macrate, The History of The Tuna Club, Avalon, Santa Catalina Island, California, 1948. $400 to $600
    <b>Doyle, online only Jul 13-24:</b> Joseph D. Bates Jr. Streamer Fly Tying and Fishing. Harrisburg, PA: The Stackpole Company, 1966. $800 to $1,200
    <b>Doyle, online only Jul 13-24:</b> Paul Schmookler and Ingrid V. Sils. Rare and Unusual Fly Tying Materials: A Natural History. $300 to $500
    <b>Doyle, online only Jul 13-24:</b> Herbert Hoover, Fishing For Fun - And To Wash Your Soul. New York: Random House, 1963. $400 to $600
  • <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 372: Martin Luther King Jr. March for Freedom Now! Placard. Chicago, 1960. 28 x 22”. $3,000 to $6,000
    <b>Potter & Potter Auctions, July. 28:</b> Lot 567: Warhol, Andy. Tate Gallery Exhibition Booklet, Signed on the Cover by Warhol. Tate Gallery, 1971. $700 to $900
    <b>Potter & Potter Auctions, July. 28:</b> Lot 72: Mitchell, Margaret. <i>Gone With the Wind.</i> New York: The Macmillan Co., 1936. First edition, first issue. $4,000 to $5,000
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 468: Photo Archive Documenting the 1930s—50s Chicago Jazz and Night Club Scene. A significant collection. $2,000 to $4,000
    <b>Potter & Potter Auctions, July. 28:</b> Lot 143: Dr. Seuss. <i>Oh Say Can You Say.</i> 1979, First Edition, Signed. $200 to $300
    <b>Potter & Potter Auctions, July. 28:</b> Lot 285: [Maps] Thomas G. Bradford. <i>A Comprehensive Atlas, Geographical, Historical & Commercial.</i> Boston: William D. Ticknor, 1835. First Edition. $1,600 to $1,800
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 69: Herman Melville. <i>Moby Dick, or The Whale</i>. New York: Random House, 1930. First Kent Trade Edition. $400 to $600
    <b>Potter & Potter Auctions, July. 28:</b> Lot 295: John James Audoban. Group of 148 Lithographs from the Birds of America. Philadelphia: J.T. Bowen, ca. 1840s. $600 to $800
    <b>Potter & Potter Auctions, July. 28:</b> Lot 54: Langston Hughes. <i>One-Way Ticket.</i> New York: Alfred A. Knopf, 1949. First edition. $300 to $500
    <b>Potter & Potter Auctions: Fine Books & Manuscripts. July 28, 2018</b>
    <b>Potter & Potter Auctions, July. 28:</b> Lot 7: Ray Bradbury. <i>The Martian Chronicles.</i> With a Wine Label Signed by Bradbury. Garden City: Doubleday, 1950. First edition $300 to $500
    <b>Potter & Potter Auctions, July. 28:</b> Lot 121. Frank L Baum. <i>The Wonderful Wizard of Oz.</i> Chicago: George M. Hill Co., 1899, 1900. First Edition. $4,000 to $5,000.
    <b>Potter & Potter Auctions, July. 28:</b> Lot 369. [Declaration of Independence] Peter Force Engraving of the Declaration of Independence. One page; 29 x 26”. From the "American Archives" 1837-1853 series of books. $15,000 to $20,000

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