• <b>Fonsie Mealy Auctioneers: Rare Books, Literature, Manuscripts, Maps & Works of Art. December 13, 2016</b>
    <b>Fonsie Mealy Dec. 13:</b> Excessively Rare Benjamin Franklin Imprint. Estaugh (John). <i>A Call to the Unfaithful Professors of Truth</i>, Philadelphia: Printed by B. Franklin, 1744. €7,000 – 10,000
    <b>Fonsie Mealy Dec. 13:</b> Original Signed Volume from the Dean Swift's Library. [Swift (Dr. Jonathan)] Grotius (Hugo). <i>De Jure Belli ac Pacis Libri Tres</i>, Amsterdam: (J. Blaeu) 1670. €10,000 – 15,000
    <b>Fonsie Mealy Dec. 13:</b> Cresswell (Samuel Gurney). <i>A Series of Eight Sketches in Colour; together with a Coloured Map of the Route</i>, London: (Day & Son) July 25, 1854.<br>€15,000 – 20,000
    <b>Fonsie Mealy Auctioneers: Rare Books, Literature, Manuscripts, Maps & Works of Art. December 13, 2016</b>
    <b>Fonsie Mealy Dec. 13:</b> Of Legendary Rarity - First Printing of Shakespeare Outside England. Shakespeare (Wm.). <i>The Works of Shakespeare</i> In Eight Volumes. Dublin: 1726.<br>€7,000 – 10,000
    <b>Fonsie Mealy Dec. 13:</b> Lewin (W.). <i>The Birds of Great Britain</i>, 8 vols in 4, with 335 hand-coloured plates, 1795 – 1801. €1,500 – 2,000
    <b>Fonsie Mealy Dec. 13:</b> 18th Century Manuscript Relating to Massachusetts Bay, c. 1750.<br>€350 – 500
    <b>Fonsie Mealy Auctioneers: Rare Books, Literature, Manuscripts, Maps & Works of Art. December 13, 2016</b>
    <b>Fonsie Mealy Dec. 13:</b> Alexander (Wm.). <i>Picturesque Representations of The Dress and Manners of the Chinese</i>, with 50 hand-coloured plates, 1814. €600 – 800
    <b>Fonsie Mealy Dec. 13:</b> Manuscript Estate Atlas - Neville (Arthur Richard). <i>The Estate of Sir John Coghill Bart</i>, 1791. €10,000 – 15,000
    <b>Fonsie Mealy Dec. 13:</b> Unique Collection of Ballads by Brendan Behan Behan. €3,000 – 4,000
    <b>Fonsie Mealy Auctioneers: Rare Books, Literature, Manuscripts, Maps & Works of Art. December 13, 2016</b>
    <b>Fonsie Mealy Dec. 13:</b> Original Manuscript of Edith Somerville's Unpublished Children's Book. Somerville (Edith). <i>GROWLY-WOWLY. Or, The Story of the Three Little Pigs</i>. €3,500 – 5,000
    <b>Fonsie Mealy Dec. 13:</b> Full Set of Cuala Press Broadsides with fine hand-coloured illustrations by Jack B. Yeats, 1908 – 1915. €4,000 – 6,000
    <b>Fonsie Mealy Dec. 13:</b> Eyzinger (Michael). <i>Ad Leonis Belgici Topographicam atque Historicam Descriptionem</i>, [Cologne:] 1586. €3,000 – 4,000
  • <b>Seth Kaller:</b> “America the Beautiful”
    <b>Seth Kaller:</b> George Washington, Tongue-in-Cheek, Writes James McHenry About His Wife or Mistress—But Funding the Continental Army is the Real Topic
    <b>Seth Kaller:</b> Young’s Map of the United States
    <b>Seth Kaller:</b> President Lincoln & His Most Profitable Client, the Illinois Central Railroad
    <b>Seth Kaller:</b> Lincoln Thanks Former Pro-Slavery and Newly Republican Congressman for a Fiery Anti-Slavery Speech at a Philadelphia Campaign Rally
    <b>Seth Kaller:</b> “A Visit From St. Nicholas” - great association copy inscribed by Clement C. Moore
    <b>Seth Kaller:</b> Einstein Agrees to Allow “a Short Book on the Hydrogen Bomb” to Use His Statement Made on Eleanor Roosevelt’s TV Show
    <b>Seth Kaller:</b> The Building Blocks of Albert Einstein’s Creative Mind
    <b>Seth Kaller:</b> A Unique Manuscript Map of Block Island Sound Including Fisher’s and Gardiner’s Islands, the Hamptons, and Montauk Point
    <b>Seth Kaller:</b> J.R.R. Tolkien Writes his Proofreader with a Lengthy Discussion of the Lord of the Rings, Including Criticism of Radio Broadcasts of his Work
    <b>Seth Kaller:</b> Six Benjamin Franklin Signed Receipts – Including his Earliest Obtainable Autograph — Acknowledging a Donation to the Famous Library Company He Founded, and Five Payments for His Pennsylvania Gazette
    <b>Seth Kaller:</b> Sherman Dishes on Lincoln & Thomas, Meade, Sheridan, Halleck & Grant
  • <b>Bloomsbury Auctions: Edward S. Curtis' The North American Indian. December 15, 2016</b>
    <b>Bloomsbury Dec. 15: </b> Lot 200.<br>The North American Indian, vol.I-XIII. £60,000-80,000
    <b>Bloomsbury Dec. 15: </b> Lot 200.<br>The North American Indian, vol.I-XIII. £60,000-80,000
    <b>Bloomsbury Dec. 15: </b> Lot 200.<br>The North American Indian, vol.I-XIII. £60,000-80,000
    <b>Bloomsbury Auctions: Edward S. Curtis' The North American Indian. December 15, 2016</b>
    <b>Bloomsbury Dec. 15: </b> Lot 200.<br>The North American Indian, vol.I-XIII. £60,000-80,000
    <b>Bloomsbury Dec. 15: </b> Lot 200.<br>The North American Indian, vol.I-XIII. £60,000-80,000
    <b>Bloomsbury Dec. 15: </b> Lot 200.<br>The North American Indian, vol.I-XIII. £60,000-80,000
    <b>Bloomsbury Auctions: Edward S. Curtis' The North American Indian. December 15, 2016</b>
    <b>Bloomsbury Dec. 15: </b> Lot 202. Geronimo - Apache. £600-800
    <b>Bloomsbury Dec. 15: </b> Lot 225.<br>A Chief of the Desert - Navaho. £1000-1500
    <b>Bloomsbury Dec. 15: </b> Lot 267.<br>An Oasis in the Bad Lands. £600-800
    <b>Bloomsbury Auctions: Edward S. Curtis' The North American Indian. December 15, 2016</b>
    <b>Bloomsbury Dec. 15: </b> Lot 303.<br>The Scout in Winter - Apsaroke. £800-1200
    <b>Bloomsbury Dec. 15: </b> Lot 320.<br>Sitting Bear - Arikara. £500-700
    <b>Bloomsbury Dec. 15: </b> Lot 475. <br>A Nakoaktok Chief's Daughter. <br>£600-800
  • <b>Dorothy Sloan Rare Books:<br>La Invasíon Norteamericana and the Mexican-American War.<br>December 15 & 16, 2016</b>
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> [ARTILLERY]. KITCHEN, D.C. <i>Record of the Wyoming Artillerists.</I> Tunkhannock, Pennsylvania: Alvin Day Printer, 1874. $2,000-4,000
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> UNITED STATES AND MEXICAN BOUNDARY COMMISSION. EMORY, William Hemsley. <i>Report of the United States and Mexican Boundary Survey, Made under the Direction of the Secretary of the Interior…</i><br>$3,000-6,000
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> RICHARDSON, William H. <i>Journal of William H. Richardson, a Private Soldier in the Campaign of New and Old Mexico…</i>. Baltimore: John H. Woods, 1848. $3,000-6,000
    <b>Dorothy Sloan Rare Books:<br>La Invasíon Norteamericana and the Mexican-American War.<br>December 15 & 16, 2016</b>
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> GARCÍA CONDE, Pedro. <i>Carta geografica general de la Republica Mexicana…</i> $30,000-60,000
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> EMORY, William Hemsley. <i>Map of Texas and the Countries Adjacent: Compiled in the Bureau of the Corps of Topographical Engineers; From the Best Authorities…</i> [Washington, 1844]. $7,500-15,000
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> THORPE, Thomas Bangs. <i>Our Army at Monterey. Being a Correct Account of the Proceedings and Events which Occurred to the “Army of Occupation”…</i> Philadelphia, 1847. $400-800
    <b>Dorothy Sloan Rare Books:<br>La Invasíon Norteamericana and the Mexican-American War.<br>December 15 & 16, 2016</b>
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> <i>The Rough and Ready Songster: Embellished with Twenty-Five Splendid Engravings, Illustrative of the American Victories in Mexico…</i> New York; St. Louis, Mo [ca. 1848].<br>$500-1,000
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> CURRIER, Nathaniel (publisher). <i>The Brilliant Charge of Capt. May At the Battle of Resaca de la Palma (Palm Ravine) 9th of May…</i> $150-300 
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> [RINGGOLD, SAMUEL]. WYNNE, James. <i>Memoir of Major Samuel Ringgold, United States Army: Read Before the Maryland Historical Society, April 1st, 1847.</i> Baltimore, 1847. $500-1,000
    <b>Dorothy Sloan Rare Books:<br>La Invasíon Norteamericana and the Mexican-American War.<br>December 15 & 16, 2016</b>
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> [TAYLOR, ZACHARY]. <i>Life of General Taylor from the Best Authorities.</i> New York: Nafis and Cornish; St. Louis, Mo.: Nafis, Cornish & Co., 1847.<br>$500-1,000
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> TILDEN, Bryant Parrott, Jr. <i>Notes on the Upper Rio Grande, Explored in the Months of October and November, 1846, on Board the U.S. Steamer Major Brown…</i> Philadelphia, 1847.<br>$5,000-10,000
    <b>Dorothy Sloan Books Dec. 15 & 16:</b> [WORTH, WILLIAM J.]. <i>Life of General Worth; To Which is Added a Sketch of the Life of Brigadier-General Wool.</i> New York: Nafis & Cornish; St. Louis, Mo.: Nafis, Cornish & Co., 1847.<br>$200-400

Auction Update Review

Nopreview

Action Trends Updated: Reality

A week ago we updated the auction trend charts.  They tell an interesting story:

December is almost always a positive month for book auctions.  The best material often comes out in the fourth quarter and it’s bound to achieve high prices even if these prices are less than some consignors hope. The median price increased $20 from the October low of $342 but was still well below the $378 median a year earlier.  As the 12 Month Moving Average of Median Auction Prices chart shows auction realizations are still caught in the downward trend that dates from February 2008.

The change in Year to Year Change in 12 Month Moving Average however also suggests that the downward trend is leveling off as the difference in year to year comparisons by month is moving back to zero.  Before the chart can go positive it has to first escape negative year-to-year comparisons.  This aspect looks better although these year-to-year comparisons are getting easier because last year was a weak year.  This year’s comparison is still negative but approaching “net no change.”

The sell-through rate remains mired at 68%, an unhealthy level that’s about 7% below the average of the past ten years.  This suggests that reserves and buyer willingness to bid are probably about 10% apart.  Said another way the minimum prices buyers are willing to pay are, on average, about 10% below current low estimates.  Consignors would do well to listen carefully to their auction houses if they suggest lower reserves.  Sending something into the rooms means the consignor wants to sell.  Not selling in 2011 and then trying again next year doesn’t appear, based on the trends, to be a moneymaking strategy.  Too much material is in the wings.  The selling venues are going to get crowded.

With respect to the current market it is possible to be proactive.   Both PBA and New England Auctions recently included images in their recent auction postings on AE.  This can only help.  We have long provided “current valuation” estimates and recently added probability of reappearance calculations.  This month we are adding ‘tracking’ which in time will fundamentally alter realizations by bringing natural buyers [collectors and institutions] and sellers together on the simplest and most logical basis:  self interest

In the February issue of AE Monthly we’ll have a story:  Where have you been all my life? that explains it.

  • <b>Swann Auction Galleries Dec 1:</b> Friedrich Nietzsche, <i>Also Sprach Zarathustra</i>, Leipzig, 1908. Sold for $15,000.
    <b>Swann Auction Galleries Dec 1:</b> Gustav Klimt, <i>Das Werk</i>, Vienna & Leipzig, 1918. Sold for $60,000.
    <b>Swann Auction Galleries Nov 17:</b> Arthur Middleton, manuscript notes from Congress, Philadelphia, 1782. Sold for $55,000.
    <b>Swann Auction Galleries Nov 17:</b> Joseph Smith, <i>The Book of Mormon</i>, first edition, Palmyra, 1830. Sold for $67,500.
    <b>Swann Auction Galleries Nov 10:</b><br>L. Frank Baum, <i>The Wonderful Wizard of Oz</i>, first edition & issue, Chicago & New York, 1900. Sold for $23,750.
    <b>Swann Auction Galleries Nov 10:</b> Mark Twain, <i>The Adventures of Tom Sawyer</i>, first American edition, Hartford, 1876. Sold for $13,750.
    <b>Swann Auction Galleries Nov 1:</b> George Washington, Partly-printed Document Signed as Commander-in-Chief, 1783. Sold for $13,750.
    <b>Swann Auction Galleries Nov 1:</b> Album with more than 130 Civil War-era signatures, including 18 presidents, 1864-2010. Sold for $60,000.
    <b>Swann Auction Galleries Oct 18:</b><br>Sir Isaac Newton, <i>Opticks</i>, first edition & issue, London, 1704. Sold for $87,500.
    <b>Swann Auction Galleries Oct 18:</b> Euclid, <i>Elementa geometriae</i>, first edition, Venice, 1482. Sold for $62,500.
    <b>Swann Auction Galleries Oct 18:</b> William Shakespeare, <i>The Winters Tale</i>, first edition, London, 1623. Sold for $25,000.
    <b>Swann Auction Galleries Oct 25:</b> Edward Ruscha, set of 14 first editions, 1963-78. Sold for $45,000.
  • <b>Bonhams: History of Science and Technology. December 7, 2016</b>
    <b>Bonhams Dec. 7:</b> EINSTEIN, ALBERT. <i>Die Grundlage der allgemeinen Relativitätstheorie.</i> Leipzig: Johann Ambrosius Barth, 1916.<br>$80,000 – 120,000
    <b>Bonhams Dec. 7:</b> NEWTON, ISAAC. Autograph Manuscript in English, Signed Integrally ("Isaac Newton"). $50,000 – 70,000
    <b>Bonhams Dec. 7:</b> DARWIN, CHARLES. <i>On the Origin of Species by Means of Natural Selection, or the Preservation of Favoured Races in the Struggle for Life</i>. London: John Murray, 1859. $25,000 – 35,000
    <b>Bonhams: History of Science and Technology. December 7, 2016</b>
    <b>Bonhams Dec. 7:</b> NEWTON, ISAAC. <i>The Mathematical Principles of Natural Philosophy.</i> London: Benjamin Motte, 1729.<br>$20,000 – 30,000
    <b>Bonhams Dec. 7:</b> HEISENBERG, WERNER. Autograph Manuscript entitled "<i>Entwicklung der Theorie der Elementarteilche,</i>” [1964].<br>$15,000 – 25,000
    <b>Bonhams Dec. 7:</b> BERNOULLI, DANIEL. <i>Hydrodynamica, sive De viribus et motibus fluidorum commentarii.</i> Strasbourg: Johann Heinrich Decker for Johann Reinhold Dulsecker, 1738. $5,000 – 7,000
    <b>Bonhams: Voices of the 20th Century. December 7, 2016</b>
    <b>Bonhams Dec. 7:</b> [TARKOVSKY, ANDREI ARSENIEVICH.] STRUGATSKY, BORIS AND ARKADY. Typed Manuscript for <i>Stalker</i>, being the director's working script, 1977. $150,000 – 200,000
    <b>Bonhams Dec. 7:</b> HEMINGWAY, ERNEST. Typed Manuscript of "Marlin Off the Morro: A Cuban Letter," n.p., [1933]. $30,000 – 50,000
    <b>Bonhams Dec. 7:</b> SALINGER, JEROME DAVID. 4 Autograph Letters, 2 of which Signed ("Jerry") and 6 Typed Letters, 2 of which Initialed ("J"). $30,000 – 50,000
    <b>Bonhams: Voices of the 20th Century. December 7, 2016</b>
    <b>Bonhams Dec. 7:</b> PASTERNAK, BORIS LEONIDOVICH. Typed Manuscript Carbon, "Doktor Zhivago," with some typed corrections, Moscow, 1948. $30,000 – 50,000
    <b>Bonhams Dec. 7:</b> MILNE, ALAN ALEXANDER. Autograph Manuscript Signed 3 times ("A.A. Milne"), entitled "Peace with Honour: An Enquiry into the War Convention," 1934.<br>$30,000 – 50,000
    <b>Bonhams Dec. 7:</b> FROST, ROBERT. Autograph Manuscript Signed ("Robert Frost"), titled "Gold for Christmas," 1952. $15,000 – 20,000
  • <b>19th Century Shop.</b> CURTIS, EDWARD. <i>Original glass plate photograph, Honovi – Walpi Snake Priest, prepared by Curtis for the printing of The North American Indian</i>, c.1910
    <b>19th Century Shop.</b> (AMERICAN WEST.), Watkins, Taber, Savage, and others. <i>Magnificent Album of Mammoth Photographs of the American West, with other subjects various</i>, ca. 1865-1880s
    <b>19th Century Shop.</b> DARWIN, CHARLES. <i>Darwin Family Photograph Album</i>. Down, Kent, 1871-1879
    <b>19th Century Shop.</b> (SECRET SERVICE). <i>The photographic archive, papers, and relics of William Kennoch, Secret Service Agent</i>. Various places, 1870s and 1880s
    <b>19th Century Shop.</b> (AMERICAN REVOLUTION). <i>Daguerreotype Portrait of Baltus Stone, the earliest photo of a Revolution veteran,</i> 1846