Rare Book Monthly

Book Catalogue Reviews - November - 2007 Issue

William Reese Revisits The Streeter Sale

Reese257

The Streeter Sale Revisited from William Reese.


By Michael Stillman

Catalogue number 257 from the William Reese Company is a must for all major collectors of Americana: The Streeter Sale Revisited. Thomas Streeter was likely the most important collector of printed Americana of the 20th century. Streeter was first a lawyer, then very successful businessman and financier. He began seriously collecting books in the 1920s, and evidently this became the love of his life. He retired in 1939, at the age of just 56, to devote the remainder of his life to book collecting. This he did virtually until its end in 1965.

Streeter collected a great deal of early Americana, but had a special interest in Texas. He published a bibliography based on his collection, donated numerous documents to the University of Texas, and sold his Texas collection in its entirety to Yale University. He made numerous donations to other institutions and served on the boards of, or in other capacities with, many libraries and historical organizations. However, he also wanted to make much of what he had gathered available to the next generation of collectors, so he decided to have some 5,000 of his books put up for auction after he died. The result was the Streeter Sale, probably the most important Americana auction of the last century.

The sale was held at Parke-Bernet Galleries, then New York's largest auction house. The sale began in 1966, and did not conclude until 1969, 23 sessions later. A total of 4,421 of his best items were offered at the auctions, bringing in a total of just over $3.1 million, a record for a book auction in the U.S. at the time. A number of factors helped to make the auction so successful, including the great respect Streeter had developed, making his copies very desirable, and the fact that Streeter gave institutions $400,000 to be used exclusively at his auction. Despite the seemingly generous prices often paid at the time, most of the purchases made at his auction have proven to be a bargain, even taking into account inflation since that time. As the rich get richer, the best get better, and Streeter's collection was the best.

William Reese has owned many items that came from Streeter's collection over the years, and has owned even more other copies of books Streeter once possessed. Currently, he is offering 311 items that are the same or similar to items sold at the Streeter sale, including 18 books owned by Streeter himself. In this catalogue, he looks back at Streeter's sale and gives us the prices from that auction, and in most cases is able to tell us to whom the Streeter copy was sold. In some cases, Reese is also able to compare prices with those sold at the auction of Streeter's son, Frank. Frank Streeter died this past year and his collection, while not on a level with that of his father, was nonetheless an important one, and he had many items that once belonged to Thomas. Reese notes that items sold at the son's auction for roughly 26 times the price at his father's, and that prices in this catalogue average around 28 times the prices at the Streeter sale. Some are only a few times as much, though a few are priced well beyond the 28 times average.

We note that our own findings indicate that this is about double the rate of increase as seen for the typical book since the late 1960s. Again, the best material, though seemingly very expensive at the time, usually increases at a more rapid rate than does average material. The Streeter collection confirms this. For comparison, Reese notes the overall inflation rate since that time stands at 6, so books have been a good financial investment, whether typical or superior copies, along with bringing great pleasure to those collect them.

Rare Book Monthly

  • <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Shackleton, Ernest. <i>Aurora Australis.</i> Printed at the sign of 'The Penguins'; East Antarctica, 1908. $70,000 to $100,000
    <b>Bonhams, Sep. 25:</b> Shackleton, Ernest. <i>South Polar Times.</i> 1st edition, limited issue. from the library of Michael Barne. $20,000 to $30,000
    <b>Bonhams, Sep. 25:</b> General Washington's <i>Proceedings of a General Court Martial... of Major General Lee.</i> Philiadelphia, 1778. 100 copies printed for Congress. BOUND WITH: ...Court Martial... of St Clair and ...Schuyler. $25,000 to $35,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> <i>The Voice of the People.</i> Boston, 1754. Rare pamphlet on the Excise Tax. Nathaniel Sparhawk's copy. $4,000 to $6,000
    <b>Bonhams, Sep. 25:</b> Autograph Letter Signed ("S.L. Clemens"), offering extensive hard-earned advice on writing, 5 pp, 1881. $30,000 to $50,000
    <b>Bonhams, Sep. 25:</b> After Fra Egnazio Danti. <i>L'Ultime Parti not:e nel Indie Occid:ntli" [The last known parts of the Western Indies].</i> Painted Map of California, Western Mexico, and Japan. $70,000 to $100,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Ptolemaeus, Claudius. <i>Geographie opus nouissima...</i> 1513. The most important edition of Ptolemy, containing the Admiral's Map. $250,000 to $350,000
    <b>Bonhams, Sep. 25:</b> De Arellano, Don Alonso. Manuscript, his <i>"Relación mui singular y circunstanciada... Capitán del Patax San Lucas,"</i> manuscript copy from the Sir Thomas Phillips collection. $50,000 to $80,000
    <b>Bonhams, Sep. 25:</b> Purchas, Samuel. <i>Purchas his Pilgrimes.</i> First edition. With John Simth's engraved map of Virginia. $70,000 to $100,000
    <b>Bonhams: Exploration and Travel, Featuring Americana, Part I. September 25, 2018</b>
    <b>Bonhams, Sep. 25:</b> Lewis, Meriwether. Contemporary manuscript true copy of his final power of attorney, 1809. $8,000 to $12,000
    <b>Bonhams, Sep. 25:</b> <i>A New Method of Macarony Making, as Practiced at Boston in North America.</i> Mezzotint. London, 1774. $5,000 to $7,000
    <b>Bonhams, Sep. 25:</b> <i>Scientific Base Ball Pitching: A Treatise on the Pitcher, Pitching, Origin and Philosophy of the Curve.</i> Chicago, 1897. $2,000 to $3,000
  • <b>Swann Auction Galleries Sep 27:</b> Franklin H. Brown, <i>State Sovereignty, National Union,</i> Chicago, 1860. $6,000 to $9,000.
    <b>Swann Auction Galleries Sep 27:</b> Thomas Paine, <i>The American Crisis,</i> Fishkill, NY, December 1776. $25,000 to $35,000.
    <b>Swann Auction Galleries Sep 27:</b><br>The Aitken Bible, Philadelphia, 1781. $20,000 to $30,000.
    <b>Swann Auction Galleries Sep 27:</b> Francisco Loubayssin de Lamarca, probable first edition of the first novel set in the Spanish New World, Paris, 1617. $15,000 to $25,000.
    <b>Swann Auction Galleries Sep 27:</b> Juan de la Anunciación, <i>Sermonario en lengua mexicana,</i> first edition, first book of sermons in Nahuatl, Mexico, 1577. $30,000 to $40,000.
    <b>Swann Auction Galleries Sep 27:</b> Maturino Gilberti, <i>Thesoro spiritual en lengua de Mechuacá,</i> first edition, Mexico, 1558. $15,000 to $25,000.
    <b>Swann Auction Galleries Sep 27:</b> Commission of William O. Stoddard as secretary to the president, signed by Lincoln, Washington, 1861. $7,000 to $10,000.
    <b>Swann Auction Galleries Sep 27:</b> <i>Clay and Frelinghuysen,</i> flag banner, circa 1844. $8,000 to $12,000.
    <b>Swann Auction Galleries Sep 27:</b> Daguerreotype of a man believed to be Frederick Granger Williams Smith, son of Joseph Smith, circa late 1850s. $10,000 to $15,000.
    <b>Swann Auction Galleries Sep 27:</b> John C. Wolfe, <i>Portrait of Abraham Lincoln,</i> oil on board in period wooden frame, circa 1860s. $12,000 to $18,000.
    <b>Swann Auction Galleries Sep 27:</b> Francis W. Winton, manuscript on pow-wows with indigenous Canadians, 1881. $15,000 to $25,000.
    <b>Swann Auction Galleries Sep 27:</b> Family letters from two young daguerreotype artists, 1826-79. $10,000 to $15,000.
  • <b>Leland Little: Important Fall Auction. September 22, 2018</b>
    <b>Leland Little, Sep. 22:</b> Published Half Plate Ambrotype of a North Carolina Confederate Officer. $2,000 to $4,000
    <b>Leland Little, Sep. 22:</b> Two 19th Century Books Pertaining to Canada's Red River Settlement. $400 to $800
    <b>Leland Little, Sep. 22:</b> Two Books With Fore-Edge Paintings of British Architectual Landmarks. $400 to $600
    <b>Leland Little: Important Fall Auction. September 22, 2018</b>
    <b>Leland Little, Sep. 22:</b> Andy Warhol (American, 1928-1987), "Torte a la Dobosch" from <i>Wild Raspberries</i>. $1,000 to $3,000
    <b>Leland Little, Sep. 22:</b> Keith Haring (American, 1958-1990), <i>Pop Shop II,</i> One Plate screenprint in colors, on wove paper, 1998. $8,000 to $12,000
    <b>Leland Little, Sep. 22:</b> Thomas Rowlandson (British, 1756-1827), Twenty-Two Prints from the <i>Tours of Dr. Syntax</i>. $500 to $1,000
  • <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>

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