Careful risk management forms the building blocks of a successful business.
It means shipping products that are carefully packaged to avoid damage, double-checking that the books are the right edition and quality the customer expects, and following up orders in a timely manner so they are not lost. As any sales professional knows, the cost of repeat sales is tiny compared to the cost of the first sale and so we try to reduce the risk that we will lose the customer by being sloppy.
Managing risk also means accepting a certain amount of risk as the cost of doing business and budgeting for it. I remember speaking to a gentleman who owned a medical tool manufacturing firm and who served as kind of a mentor when I had a different business. He explained to me that when somebody is hurt on the operating table everyone is sued, including the manufacturer that makes the tools. He didn't think it was right. He didn't think it was fair. But he budgeted about 10% of his gross to pay off litigants.
There is no business activity of which I am aware that does not carry risk right along with it. But with careful identification, analysis, and choosing to either avoid, mitigate, or accept risk, bookselling can not only be considerably less stressful, but more profitable and less subject to extreme conditions.
Forum Auctions Fine Books, Manuscripts and Works on Paper 27th March 2025
Forum, Mar. 27: Dürer (Albrecht) Hierin sind begriffen vier bücher von menschlicher Proportion, 4 parts in 1, first edition, Nuremberg, Hieronymus Andreae for Agnes Dürer, 1528. £30,000 to £40,000.
Forum, Mar. 27: Book of Hours, Use of Rome, illuminated manuscript in Latin, on vellum, 26 fine hand-painted miniatures, 17th century dark brown morocco, [Lyon], [c. 1475 and later c. 1490-1500]. £25,000 to £35,000.
Forum, Mar. 27: Brontë (Emily) The North Wind, watercolour, [1842]. £15,000 to £20,000.
Forum, Mar. 27: Titanic.- Mudd (Thomas Cupper, one of the youngest victims of the sinking of the Titanic, 1895-1912) Autograph Letter signed on board RMS Titanic to his mother, April 11th 1912. £20,000 to £30,000.
Forum Auctions Fine Books, Manuscripts and Works on Paper 27th March 2025
Forum, Mar. 27: [Austen (Jane)] Emma: A Novel, 3 vol., first edition, for John Murray, 1816. £10,000 to £15,000.
Forum, Mar. 27: Picasso (Pablo).- Ovid. Les Metamorphoses, one of 95 copies, signed by the artist, Lausanne, Albert Skira, 1931. £10,000 to £15,000.
Forum, Mar. 27: America.- Ogilby (John) America: Being the Latest, and Most Accurate Description of the New World..., all maps with vibrant hand-colouring in outline, probably by an early hand, 1671. £15,000 to £25,000.
Forum, Mar. 27: Iceland.- Geological exploration.- Bright (Dr. Richard )and Edward Bird. Collection of twenty original drawings from travels in Iceland with Henry Holland and George Mackenzie, watercolours, [1810]. £20,000 to £30,000.
Sotheby's Sell Your Fine Books & Manuscripts
Sotheby’s: The Shem Tov Bible, 1312 | A Masterpiece from the Golden Age of Spain. Sold: 6,960,000 USD
Sotheby’s: Ten Commandments Tablet, 300-800 CE | One of humanity's earliest and most enduring moral codes. Sold: 5,040,000 USD
Sotheby’s: William Blake | Songs of Innocence and of Experience. Sold: 4,320,000 USD
Sotheby’s: The Declaration of Independence | The Holt printing, the only copy in private hands. Sold: 3,360,000 USD
Sotheby's Sell Your Fine Books & Manuscripts
Sotheby’s: Thomas Taylor | The original cover art for Harry Potter and the Philosopher's Stone. Sold: 1,920,000 USD
Sotheby’s: Machiavelli | Il Principe, a previously unrecorded copy of the book where modern political thought began. Sold: 576,000 GBP
Sotheby’s: Leonardo da Vinci | Trattato della pittura, ca. 1639, a very fine pre-publication manuscript. Sold: 381,000 GBP
Sotheby’s: Henri Matisse | Jazz, Paris 1947, the complete portfolio. Sold: 312,000 EUR
![<b>Forum, Mar. 27:</b> Book of Hours, Use of Rome, illuminated manuscript in Latin, on vellum, 26 fine hand-painted miniatures, 17th century dark brown morocco, [Lyon], [c. 1475 and later c. 1490-1500]. £25,000 to £35,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/1d4e3614-8c6e-4405-9784-fccc9af6f069.png "<b>Forum, Mar. 27:</b> Book of Hours, Use of Rome, illuminated manuscript in Latin, on vellum, 26 fine hand-painted miniatures, 17th century dark brown morocco, [Lyon], [c. 1475 and later c. 1490-1500]. £25,000 to £35,000.")
![<b>Forum, Mar. 27:</b> Brontë (Emily) <i>The North Wind,</i> watercolour, [1842]. £15,000 to £20,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/cdae56c0-f6c2-49f9-aa96-cb45addacd4e.png "<b>Forum, Mar. 27:</b> Brontë (Emily) <i>The North Wind,</i> watercolour, [1842]. £15,000 to £20,000.")
![<b>Forum, Mar. 27:</b> [Austen (Jane)] <i>Emma: A Novel,</i> 3 vol., first edition, for John Murray, 1816. £10,000 to £15,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/ba9a41af-fc2f-4232-b3ab-c2df1eee9335.png "<b>Forum, Mar. 27:</b> [Austen (Jane)] <i>Emma: A Novel,</i> 3 vol., first edition, for John Murray, 1816. £10,000 to £15,000.")
![<b>Forum, Mar. 27:</b> Iceland.- Geological exploration.- Bright (Dr. Richard )and Edward Bird. Collection of twenty original drawings from travels in Iceland with Henry Holland and George Mackenzie, watercolours, [1810]. £20,000 to £30,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/2a143987-f930-4a0f-a2e9-c1d7c73846c3.png "<b>Forum, Mar. 27:</b> Iceland.- Geological exploration.- Bright (Dr. Richard )and Edward Bird. Collection of twenty original drawings from travels in Iceland with Henry Holland and George Mackenzie, watercolours, [1810]. £20,000 to £30,000.")
