Auction Update Review

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A Difficult Time, The Week Ending July 3rd, 2010

Economies everywhere have got the sniffles and pundits are using their 15 minutes of fame to come down on one side or the other of the "greater fear question." Should we fear deflation or inflation? If you are in the rare book business you don't have to choose. You can fear both. Book prices are coming down while the cost of living is going up. It's nice to have that out of the way. This week's auction results give us some idea of what's happening.

We archived 11 auctions this week; 6 in mainland Europe, 2 in the United Kingdom, 2 in the United States and 1 in Mexico. Eight-thousand-four-hundred-sixty-nine lots were offered and 4,415 sold for a 52% sale rate. The aggregate high estimate for all lots was $7,583,067, total sales $5,353,262, for an overall percentage of high estimate of 71%. Sales were soft. The general goal is 100%. Two auctions, Gallerie Koller and Gallerie Bessange achieved 112% and 108%, three houses fell below 50%. Bonhams' sale in London on the 29th, while not breaking the 100% plane, did well enough; 85%.

These results suggest that good material, well publicized and appropriately estimated continues to sell but that, as the market contracts, the sweet spot in the estimate ranges has become a shifting target moving in the wrong direction. Consignors are reluctant to agree to substantial cuts but in many cases they may be required.

As difficult as selling at auction has been the anecdotal evidence from dealers is a shade darker. Disappointment has been more the norm than the exception.


By September on AE we'll add some tools and features that we think will help.

Bruce McKinney
AE

  • <b>Swann Auction Galleries Apr 26:</b> Jacques-Émile Ruhlmann, wallpaper sample book, circa 1919. $15,000 to $25,000.
    <b>Swann Auction Galleries Apr 26:</b> Archive from a late office of the Breuer & Smith architectural team, New York, 1960-70s. $3,500 to $5,000.
    <b>Swann Auction Galleries Apr 26:</b> William Morris, <i>The Story of the Glittering Plain or the Land of Living Men,</i> illustrated by Walter Crane, Kelmscott Press, Hammersmith, 1894. $2,500 to $3,500.
    <b>Swann Auction Galleries Apr 26:</b> Gustave Doré, <i>La Sainte Bible selon la Vulgate,</i> Tours, 1866. $15,000 to $25,000.
    <b>Swann Auction Galleries Apr 26:</b> Gustav Klimt & Max Eisler, <i>Eine Nachlese,</i> complete set, Vienna, 1931. $15,000 to $25,000.
    <b>Swann Auction Galleries Apr 26:</b><br>Eric Allatini & Gerda Wegener, <i>Sur Talons Rouges,</i> with original watercolor by Wegener, Paris, 1929. $5,000 to $7,500.
    <b>Swann Auction Galleries Apr 26:</b><br>C.P. Cavafy, <i>Fourteen Poems,</i> illustrated & signed by David Hockney, London, 1966. $5,000 to $7,500.
    <b>Swann Auction Galleries Apr 26:</b> Jean Midolle, <i>Spécimen des Écritures Modernes...</i>, Strasbourg, 1834-35. $3,000 to $4,000.
    <b>Swann Auction Galleries Apr 26:</b><br>E.A. Seguy, <i>Floréal: Dessins & Coloris Nouveaux,</i> Paris, 1925. $3,000 to $4,000.
  • <b>Bonhams: Results from Fine Books and Manuscripts on 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. SOLD for $131,250
    <b>Bonhams, Mar. 9:</b> Violin belonging to Albert Einstein, presented to him by Oscar H. Steger, 1933. SOLD for $516,500
    <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. SOLD for $106,250
    <b>Bonhams: Results from Fine Books and Manuscripts on 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. SOLD for $16,250
    <b>Bonhams, Mar. 9:</b> NEWTON, ISAAC. Autograph Manuscript in Latin, being detailed instructions on making the philosopher's stone. 8 pp. 1790s. SOLD for $275,000
    <b>Bonhams, Mar. 9:</b> 1869 Inauguration Bible of President Ulysses S. Grant. SOLD for $118,750
  • <b>Doyle, April 25:</b> E.H. SHEPARD, Original drawing for A.A. Milne’s The House at Pooh Corner.<br>$40,000-60,000
    <b>Doyle, April 25:</b> BERNARD RATZER, Plan of the City of New York in North America, surveyed in the years 1766 & 1767. $80,000-100,000
    <b>Doyle, April 25:</b> THOMAS JEFFERSON, Autograph letter signed comparing Logan, Tecumseh, and Little Turtle to the Spartans. Monticello: 15 February 1821. $14,000-18,000
    <b>Doyle, April 25:</b> JOHN C. FREMONT, Narrative of the Exploring Expedition to the Rocky Mountains, in the Year 1842.. Abridged edition, the only one containing the folding map From the Sporting Library of Arnold “Jake” Johnson. $3,000-5,000
    <b>Doyle, April 25:</b> ZANE GREY, Album containing 94 large format photographs of Grey and party at Catalina Island, Arizona, and fishing in the Pacific. From the Sporting Library of Arnold “Jake” Johnson. $5,000-$8,000
    <b>Doyle, April 25:</b> WILLIAM COMBE, A History of Madeira ... illustrative of the Costumes, Manners, and Occupations of the Inhabitants. produced by Ackermann in 1821; From the Sporting Library of Jake Johnson. $2,000-$3,000
    <b>Doyle, April 25:</b> ERIC TAVERNER, Salmon Fishing... One of 275 copies signed by Taverner, published in 1931,From the Sporting Library of Jake Johnson. $2,000-$3,000
    <b>Doyle, April 25:</b> JOHN WHITEHEAD, Exploration of Mount Kina Balu, North Borneo. Whitehead reached the high point of Kinabalu in 1888. Part of a major group of travel books from the Sporting Library of Jake Johnson. $2,000-$3,000
    <b>Doyle, April 25:</b> JOHN LONG, Voyages and Travels of an Indian Interpreter and Trader, describing the Manners and Customs of the North American Indians... The first edition of 1791. $3,000-$5,000
    <b>Doyle, April 25:</b> SAMUEL BECKETT, Stirrings Still. This, Beckett’s last work of fiction with original lithographs by Le Brocquy, limited to 200 copies signed by the author and the artist. From the Estate of Howard Kaminsky.. $1,500-$2,500
  • <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>