Auction Update Review
It’s only February but it feels like spring. Ten sales were archived this past week: five in British Pounds, three in Euros, and two in dollars. Total sales for the week were $1.9 million against an aggregate high estimate of $2.3, 83% of the high estimate. Altogether 3,449 lots were offered and 2,696 sold for a 78% sale rate. Performance across the board was very good. Four of the ten sales exceeded 100% of the aggregate high estimate: Dominic Winter on the 26th – 155%, Kapandji Morhange on the 20th – 123% and again on the 21st – 105%, and Lyon & Turnbull 100% on the 26th.
Pacific Book Auctions did particularly well on January 20th. Their percentage of lots sold was 86% and percentage of high estimate achieved their best in some time. Images of their upcoming lots are now included in the AE upcoming Auction Search.
We believe that images will play a significant role in increasing auction realizations. As we speak PBA has posted images for its February 14th sale of Rare Books and Manuscripts and Henri Godts Books and Prints Auctions – images for their sale of Old and Modern Books and Prints on the February 22nd. Images intensify interest.
We are also now providing tracking that lets anyone follow the progress of material at auction and be notified if/when the same book and edition returns to the rooms or is posted in Books for Sale. Members are beginning to use this free service and it will prove to be beneficial for the community. It will help collectors to efficiently build collections and to sell if they choose. It will help auction houses and dealers to gauge interest; help auction houses to set estimates and dealers to set prices.