Rare Book Monthly

Articles - November - 2003 Issue

The Price is Wrong -- How Much is that Book Really Worth?

Utah1

Value of this book depends on whether the “two large and accurate maps” (fine print) are present.


By Mike Stillman


We’ve all seen the long lists on the bookselling sites. Abebooks, in particular, can easily have dozens of copies of a book available, even of ones once thought to be fairly uncommon. With 45 million books posted for sale, you know there are going to be many duplicates. And, the pricing can be all over the board. This can be confusing to the buyer and seller alike. The buyer doesn’t know which to buy; the seller doesn’t know what price to ask if he or she has a copy to sell.

This is all new to the trade. A few years ago, which means pre-internet, almost any old book appeared rare. You could find a copy of the latest Harry Potter book in virtually any bookstore. However, if you came across a book printed in 1887 at one store, the chances of finding that exact same title in any other bookstore in your area were slim. Even if the book was not rare at all, it could appear to be as rare as the Bay Psalm Book to the uninitiated. So, what was that book worth?

Unfortunately, there is no Kelly Blue Book for old books. Experienced book dealers, with access to older auction records, catalogues, and their own knowledge, had a reasonably good idea. The rest of us, including inexperienced booksellers, traders, and collectors, generally didn’t have a clue. Some booksellers undoubtedly pulled numbers out of the air. Those looking to sell books discovered in their attics surely did the same. Dreamers priced them high; those looking to clear out space low. But, what were they really worth?

Today, this “guesstimating” has been exposed. Prices set by 20 dealers scattered over 50 states and a few countries are now all visible together on one internet site. The price of $100 set by a local dealer is no longer the only price a collector will see. That price can now be seen in comparison to 19 others, and the dealer may look reasonable, greedy, or like a source for bargains. But we still don’t know what that book is actually worth.

Part of the trouble here is in understanding what is meant by “worth.” We all want to see a price guide which states a value. We like certainty. Something for which there is a healthy supply and transparent pricing history, such as most coins or stamps, can be readily valued. Unfortunately, this is not true of books. There are too many different books, few printed in anything approaching the quantity of most stamps or coins. There are no price guides available.

Rare Book Monthly

  • <center><b>The Collectors’ Sale<br>March 3, 2021</b>
    <b>Fonsie Mealy, Mar. 3:</b> Verlag, Luzern, Publishers: <i>The Book of Kells,</i> the most precious illuminated manuscript of the early Middle Ages, now reproduced, the FIRST AND ONLY COMPLETE FINE ART FACSIMILE EDITION. €5,000 to €6,000.
    <b>Fonsie Mealy, Mar. 3:</b> Rowling (J.K.) <i>Harry Potter and the Philosophers Stone,</i> 8vo, L. (Bloomsbury) 1997, First Deluxe Edn., Signed by the Author on title page. €4,000 to €5,000.
    <b>Fonsie Mealy, Mar. 3:</b> Gilbert (John T.) Account of Facsimiles of National Manuscripts of Ireland, from the earliest extant specimens to A.D. 719. €2,000 to €3,000.
    <center><b>The Collectors’ Sale<br>March 3, 2021</b>
    <b>Fonsie Mealy, Mar. 3:</b> <i>The Georgian Society Records of Eighteenth-Century Domestic Architecture in Dublin [-Ireland],</i> 5 vols. lg. 4to D. 1909 - 1913. Limited Editions. €1,500 to €2,000.
    <b>Fonsie Mealy, Mar. 3:</b> Yeats (W.B.) <i>The Poems of W.B. Yeats,</i> 2 vols., roy 8vo, L. (MacMillan & Co.) 1949, Limited Edn., No. 185 (of 375 copies). Signed. €1,500 to €2,000.
    <b>Fonsie Mealy, Mar. 3:</b> Crone (John S.)ed. <i>The Irish Book Lover, A Monthly Review of Irish Literature and Bibliography.</i> Vol. I No 1 August 1909 - Vol. XXXII No. 6, September 1957. €1,250 to €2,000.
    <center><b>The Collectors’ Sale<br>March 3, 2021</b>
    <b>Fonsie Mealy, Mar. 3:</b> Yeats (John Butler) <i>An original self-portrait Sketch,</i> Signed and dated April 1919, N[ew] York. €1,200 to €1,500.
    <b>Fonsie Mealy, Mar. 3:</b> Photograph Album. Entitled ''A Souvenir of the Visit to Jeypore Samasthanam of His Excellency the Right Hon'ble Viscount Goschen of Hawkhurst… 14th December 1927''. €1,000 to €1,500.
    <b>Fonsie Mealy, Mar. 3:</b> Pistolesi (Erasmo) <i>Il Vaticano,</i> 8vols. large atlas, folio Rome (Tipografia della Societa..) 1829. €500 to €600.
    <center><b>The Collectors’ Sale<br>March 3, 2021</b>
    <b>Fonsie Mealy, Mar. 3:</b> Chagall (Marc)illus., Legmarie (Jean) comp., <i>The Jerusalem Windows,</i> folio N.Y. (George Braziller) 1962. €400 to €500.
    <b>Fonsie Mealy, Mar. 3:</b> Bullitt (Thos. W.) <i>My Life at Oxmoor,</i> Life on a Farm in Kentucky before the War. Roy 8vo Louisville, Kentucky, 1911. Privately Printed No. 86 of 100 Copies Only. €300 to €400.
    <b>Fonsie Mealy, Mar. 3:</b> Popish Plot: Oates (Titus) <i>The Popes Whore House or The Merchandise of The Whore of Rome,</i> folio L. 1679. First Edn. €100 to €150.
  • <b>Swann Auction Galleries Feb 25:</b> Frederick Douglass, ALS recruiting help for his paper after schism with Garrison, Rochester, 1851. $20,000 to $30,000.
    <b>Swann Auction Galleries Feb 25:</b> James Dean, photograph by Sanford H. Roth, signed & inscribed by Dean. $7,000 to $10,000.
    <b>Swann Auction Galleries Feb 25:</b> Richard Wagner, ALS requesting confirmation that the Grand Duke received his letter, 1863. $3,000 to $4,000.
    <b>Swann Auction Galleries Feb 25:</b> Benjamin Rush, ALS, doctor’s note for a Revolutionary soldier, 1780. $2,500 to $3,500.
    <b>Swann Auction Galleries Feb 25:</b> Lord Byron, ALS to Cambridge classmate, “your friendship is of more account to me than all these absurd vanities,” c. 1812. $3,000 to $4,000.
    <b>Swann Auction Galleries Feb 25:</b> Ernest Hemingway, <i>Three Stories & Ten Poems,</i> first edition of the author’s first book, Paris, 1923. $20,000 to $30,000.
    <b>Swann Auction Galleries Feb 25:</b> Ralph Ellison, <i>Invisible Man,</i> first English edition of the author’s first novel, signed, London, 1953. $1,800 to $2,500.
    <b>Swann Auction Galleries Feb 25:</b> Margery Lawrence, <i>The Madonna of Seven Moons,</i> first edition in unrestored dust jacket, Indianapolis, 1933. $800 to $1,200.
    <b>Swann Auction Galleries Feb 25:</b> Joseph Albers, <i>Interaction of Color,</i> 80 color screenprints, Yale University Press, New Haven & London, 1963. $4,000 to $6,000.
    <b>Swann Auction Galleries Feb 25:</b> Albert Einstein, autograph manuscript, unsigned, likely a draft discarded while working toward a unified field theory. $10,000 to $20,000.
  • <b><center>Hindman Auctions<br>Literature from a Private New Orleans Collection<br>March 19, 2021</b>
    <b>Hindman Auctions, Mar. 19:</b> STEINBECK, John (1902-1968). <i>The Pastures of Heaven.</i> New York: Brewer, Warren & Putnam, 1932. $10,000 to $15,000.
    <b>Hindman Auctions, Mar. 19:</b> FITZGERALD, F. Scott (1896-1940). <i>Tender is the Night.</i> New York: Charles Scribner's Sons, 1934. $6,000 to $8,000.
    <b>Hindman Auctions, Mar. 19:</b> STOKER, Bram (1847-1912). <i>Dracula.</i> Westminster: Archibald Constable and Company, 1897. $5,000 to $7,000.
    <b><center>Hindman Auctions<br>Literature from a Private New Orleans Collection<br>March 19, 2021</b>
    <b>Hindman Auctions, Mar. 19:</b> GOLDING, William (1911-1993). <i>Lord of the Flies.</i> London: Faber and Faber, 1954. $4,000 to $6,000.
    <b>Hindman Auctions, Mar. 19:</b> SALINGER, J. D. (1919-2010). The Catcher in the Rye. Boston: Little, Brown and Company, 1951. $4,000 to $6,000.
    <b>Hindman Auctions, Mar. 19:</b> HEMINGWAY, Ernest (1899-1961). <i>The Torrents of Spring.</i> New York: Scribner's, 1926. $3,000 to $4,000.
    <b><center>Hindman Auctions<br>Literature from a Private New Orleans Collection<br>March 19, 2021</b>
    <b>Hindman Auctions, Mar. 19:</b> HUXLEY, Aldous (1894-1963). <i>Brave New World.</i> London: Chatto & Windus, 1932. $3,000 to $4,000.
    <b>Hindman Auctions, Mar. 19:</b> WELLS, H.G. <i>The Time Machine, an Invention.</i> New York: Henry Holt, 1895. $3,000 to $4,000.
    <b>Hindman Auctions, Mar. 19:</b> DAHL, Roald (1916-1990). <i>Charlie and the Chocolate Factory.</i> New York: Alfred A. Knopf, 1964. $2,000 to $3,000.
    <b><center>Hindman Auctions<br>Literature from a Private New Orleans Collection<br>March 19, 2021</b>
    <b>Hindman Auctions, Mar. 19:</b> HERBERT, Frank (1920-1986). Dune. Philadelphia: Chilton Books, 1965. $2,000 to $3,000.
    <b>Hindman Auctions, Mar. 19:</b> KESEY, Ken (1935-2001). <i>One Flew Over the Cuckoo's Nest.</i> New York: The Viking Press, 1962. $2,000 to $3,000.
    <b>Hindman Auctions, Mar. 19:</b> VONNEGUT, Kurt, Jr. (1922-2007). <i>Slaughterhouse-Five or The Children's Crusade.</i> New York: Seymour Lawrence Delacorte Press, 1969. $2,000 to $3,000.

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