• Sotheby's
    Fine Books, Manuscripts & More
    Available for Immediate Purchase
    Sotheby’s: J.R.R. Tolkien. The Lord of the Rings Trilogy. 11,135 USD
    Sotheby’s: Edgar Allan Poe. The Raven and Other Poems, 1845. 33,000 USD
    Sotheby’s: Leo Tolstoy, Clara Bow. War and Peace, 1886. 22,500 USD
    Sotheby’s: Sir Arthur Conan Doyle. Adventures of Sherlock Holmes, 1902. 7,500 USD
    Sotheby’s: F. Scott Fitzgerald. This Side of Paradise, The Great Gatsby, and Others, 1920-1941. 24,180 USD
  • Freeman’s | Hindman
    Fine Printed Books and Manuscripts, Including Americana
    November 14
    Freeman’s | Hindman, Nov. 14: LEROUX, Gaston. The Phantom of the Opera. FIRST AM. ED, FIRST ISSUE IN THE VERY RARE DUST JACKET. 1911. $6,000 – 8,000.
    Freeman’s | Hindman, Nov. 14: GOULD, John. A Monograph of the Trochilidae...Humming-Birds. L., [1849-] 1861. $60,000 – 80,000.
    Freeman’s | Hindman, Nov. 14: A COMPLETE RUN of Limited Editions Club publications, v.p. [mostly New York], 1929-2010. $50,000 – 60,000.
    Freeman’s | Hindman, Nov. 14: ORWELL, George. Nineteen Eighty-Four. Lon., 1949. FIRST EDITION IN A VERY FINE DUST JACKET. $6,000 – 8,000.
    Freeman’s | Hindman, Nov. 14: GOULD. A Monograph of the Ramphastidae...Toucans. L., [1852-] 54. SECOND ED. $35,000 – 45,000.
    Freeman’s | Hindman, Nov. 14: The Federalist. NY, 1788. FIRST EDITION, THICK PAPER COPY. $60,000 – 80,000.
    Freeman’s | Hindman, Nov. 14: SELBY. Plates to Selby’s Illustrations of British Ornithology. Edin., [1833-] 34. $20,000 – 30,000.
  • Gros & Delettrez, 7 November:
    APRES DE MANNEVILLETTE
    Le Neptune Oriental
    Gros & Delettrez, 7 November:
    CASSAS
    Eaux fortes de la Sicile et quelques vues d’Espagne
    Gros & Delettrez, 7 November:
    CASSINI DE THURY
    Carte générale et particulière de la France.
    Gros & Delettrez, 7 November:
    JOUY; GARNERAY
    Vues des côtes de France dans l'Océan et dans la Méditerranée
    Gros & Delettrez, 7 November:
    LA PÉROUSE
    Voyage autour du monde
    Gros & Delettrez, 7 November:
    LE GENTIL DE LA GALAISIERE
    Voyage dans les Mers de l’Inde
    Gros & Delettrez, 7 November:
    LICENT
    Hoang Ho, Pai Ho, Loan Ho, Leao Ho. Itinéraires suivis dans le bassin du golfe du Pei Tcheuly
    Gros & Delettrez, 7 November:
    FRENCH SCHOOL FROM THE 19th CENTURY
    Panorama d’Athènes
    Gros & Delettrez, 7 November:
    PEETERS
    Description des principales villes, havres et isles du golfe de Venise
    Gros & Delettrez, 7 November:
    PÉRON; FREYCINET
    Voyage de découverte aux terres australes
    Gros & Delettrez, 7 November:
    STACKELBERG
    La Grèce : vues pittoresques et topographiques.
    Gros & Delettrez, 7 November:
    VALENTINER
    Atlas des Sonnensystems.
  • Swann, Nov. 14: Stephen Sondheim, autograph musical quotation signed and inscribed, 4 bars from “Send in the Clowns,” 1986.
    Swann, Nov. 14: George Washington, autograph letter signed to Robert Morris, preparing for attack on Philadelphia, 1777.
    Swann, Nov. 14: Autograph album containing over 250 signatures by members of 29th U.S. Congress, 1845.
    Swann, Nov. 14: Charles “The Bold,” letter signed to Duke of Milan written during Burgundian Wars, 1475.
    Swann, Nov. 14: Deng Xiaoping, TIME magazine “Man of the Year” issue signed and dated, 1979.
    Swann, Nov. 14: Theodor Herzl, autograph letter signed to prospective tutor of his children, 1902.
    Swann, Nov. 14: Bourienne’s Memoirs of Napoleon Bonaparte extra illustrated including 1798 letter signed by Napoleon after Battle of the Nile, 1836.
    Swann, Nov. 14: George Minot, autograph manuscript signed, diary kept during European trip to claim Nobel Prize, 1934.
    Swann, Nov. 14: Thomas Jefferson, autograph letter signed, introducing George Washington’s personal secretary Tobias Lear, 1793.
    Swann, Nov. 14: Winston Churchill, A History of the English-Speaking Peoples, signed in second volume, first edition, 1956-58.
    Swann, Nov. 14: John Steinbeck, late typescript drafts of 5 chapters from his posthumously published tales of King Arthur, 1959.
    Swann, Nov. 14: H.G. Wells, group of 14 of his books signed to his mistress Rebecca West or the son they had together, 1910s-40s.

Rare Book Monthly

Articles - January - 2011 Issue

A Sale that Confirms

AE:  The American Experience

AE: The American Experience

On December 2nd Bonhams in New York and via simulcast in San Francisco, conducted the sale of "The American Experience 1630 - 1890".  As the consignor I can confirm it was an experience.  The sale was presented as an unreserved mirror-on-the-market event and everyone seemed to see the results differently.  As Shakespeare might have said, "the mirror always lies" or tries to.  For myself it was confirmation of the efficacy of 'the-auction-as-event' approach and evidence of the endemic market weakness that prevails today.  In succinct terms the sale brought a 20% premium on its full original cost.   More than 200 registered to bid, 34 of which were new bidders at Bonhams.  Thirty-seven spent more than $10,000.  The overall bidding pool represented 29 American states and 8 countries.  The house issued a superb catalogue, offered it widely,  and advertised the sale extensively.  A series of videos were issued.  All that could be done was done.   The outcome was very good but the results, given the support Bonhams provided, may be difficult to duplicate.        

 

The sale worked while suggesting comparative weakness.  The highly valuable and rarest material sold well as it has elsewhere throughout the downturn, common rarities less well.  The threshold between 'safe and supported' material probably rose to more than $5,000.  A decade ago it was $1,000, as recently as three years ago around $2,500. 

 

During much of the past decade such material has been listed by dealers at somewhat higher prices, reflecting the general strength of the rarest books that have been trending up over the past twenty years.  However, in this sale, when exposed to public reappraisal without reserves the community that buys, sells and collects often stepped aside to let items change hands for substantially less than what they themselves asked years ago.  This suggests two possibilities.  Prices may not so much have fallen as been exposed as inflated.   Alternatively prices may have risen with the market but now fall at different rates, the middle of the market demonstrably weaker than the first tier.  As to which view is more accurate it's unclear and probably irrelevant.  When I was acquiring the material I believed the prices made sense.  That the market's view changes is unsurprising.  Neither is dealer pricing infallible.  In buying primarily from Bill Reese I didn't know then what I know now - that he often bids at auction on items he sold.  In this sale which brought $4.058 million he was the largest buyer by lots and dollar volume.  Every collector should have such a dealer.         


Posted On: 2011-01-01 00:00
User Name: arader

Congratulations on your successful sale Bruce.

This is a great essay that was very useful to read.

What I would like to read next would be your v


Posted On: 2011-01-09 00:00
User Name: jaysnider

Bruce, first of all, congratulations on building a tremendous collection. I appreciate your analysis, and I'm sure this was bittersweet.
I'd like t


Posted On: 2011-01-10 00:00
User Name: MiRIAMGREEN

William Reese is to be commended for stepping up and gathering back your book inventory purchased from him, like the Oriental rug dealer tha


Rare Book Monthly

  • Forum Auctions
    Online Sale:
    The Detective Fiction Collection of John Cooper
    Ending 7th November, 2024
    Forum, Nov. 7: Christie (Agatha). The Thirteen Problems, first edition, The Crime Club, 1932. £15,000 to £20,000.
    Forum, Nov. 7: Christie (Agatha). Dumb Witness, first edition, 1937. £3,000 to £4,000.
    Forum, Nov. 7: Christie (Agatha). Cards on the Table, first edition, The Crime Club, 1936. £2,000 to £3,000.
    Forum, Nov. 7: [Carr (John Dickson)], "Carter Dickson" and John Rhode. Drop to his Death, first edition, Heinemann, [1939]. £600 to £800.
    Forum, Nov. 7: Berkeley (Anthony). Jumping Jenny, first edition, Hodder and Stoughton, 1933. £800 to £1,200.
    Forum Auctions
    Online Sale:
    The Detective Fiction Collection of John Cooper
    Ending 7th November, 2024
    Forum, Nov. 7: Marsh (Ngaio). Overture to Death, first edition, The Crime Club, 1939. £600 to £800.
    Forum, Nov. 7: [Day-Lewis (Cecil)] "Nicholas Blake". The Beast Must Die, first edition, 1938. £750 to £1,000.
    Forum, Nov. 7: Brand (Christianna). Green for Danger, first edition, signed presentation inscription from the author, John Lane the Bodley Head, 1945. £600 to £800.
    Forum, Nov. 7: Christie (Agatha). Murder is Easy, first edition, signed by the author, 1939. £3,000 to £4,000.
    Forum, Nov. 7: Sayers (Dorothy L.) Lord Peter Views the Body, first edition, Gollancz, 1928. £6,000 to £8,000.
  • Desa Unicum, Nov. 13: Chronograph Wristwatches. Precious memories of the 20th Century / Cronografi da Polso. Preziose Memorie del XX Secolo, 2013. €3,000 to €5,000. Starting Bid: €10.
    Desa Unicum, Nov. 13: Lanthemann, Joseph. Modigliani 1884-1920. A Catalogue Raisonné, Barcelona, 1970. €320 to €380. Starting Bid: €10.
    Desa Unicum, Nov. 13: Warhol, Andy. The Philosophy of Andy Warhol (from A to B and back again), New York, 1975. Signed by the author. €500 to €600. Starting Bid: €10.
    Desa Unicum, Nov. 13: Vitali, Lamberto. Morandi: Catalogo Generale. I & II, Mediolan, 1983. €1,100 to €1,300. Starting Bid: €10.
    Desa Unicum, Nov. 13: Goldstein, Ann. Christopher Wool, Los Angeles, 1998. €320 to €380. Starting Bid: €10.
    Desa Unicum, Nov. 13: Celant, Germano. Piero Manzoni, 1989. €320 to €360. Starting Bid: €10.
    Desa Unicum, Nov. 13: Ernst, Max. Oeuvre-Katalog. Das Graphische Werk, Cologne, 1975. €420 to €480. Starting Bid: €10.
  • Doyle
    Stage & Screen
    November 14 & 15
    Doyle, Nov. 14-15: A studio-sanctioned Darth Vader Touring Costume from The Empire Strikes Back. $50,000 to $100,000.
    Doyle, Nov. 14-15: An original Al Hirschfeld's illustration of the cast of On Golden Pond. $4,000 to $6,000.
    Doyle, Nov. 14-15: The largest trove of personal Grace Kelly letters to come to market. $60,000 to $80,000.
    Doyle, Nov. 14-15: An Important Archive of Musical Manuscripts of Truman Capote and Harold Arlen's House of Flowers. $40,000 to $60,000.
    Doyle, Nov. 14-15: The archive of an original Merrily We Roll Along Broadway cast member. $5,000 to $10,000.
    Doyle, Nov. 14-15: Jerry Herman's Yamaha Model C7 Ebonized Grand Piano. $6,000 to $9,000.
    Doyle, Nov. 14-15: A large group of Jerry Herman musical posters. $300 to $500.
    Doyle, Nov. 14-15: Group of awards presented to Jerry Herman. $300 to $400.
    Doyle, Nov. 14-15: Six pages of original art for "The MAD Game of Basebrawl," a complete story published in MAD #167, pages 31-36, June 1974. $3,000 to $4,000.
    Doyle, Nov. 14-15: A MAD book made for Al Jaffee, containing original art and writings from many MAD contributors. 2011. $1,200 to $1,800.
    Doyle, Nov. 14-15: A Jaffee-themed MAD Fold-In - "What honor should the creator of the MAD Fold-Ins be given?" $800 to $1,200.
    Doyle, Nov. 14-15: MAD Fold-In - "What developing news story has many Americans totally transfixed?" $800 to $1,200.
  • Bonhams, Nov. 2-12: AUDUBON, JOHN JAMES. Red-Shouldered Hawk. London: R. Havell, Jr., 1829. $2,000 - $3,000
    Bonhams, Nov. 2-12: STEWART, WILLIAM DRUMMOND, SIR. Altowan; or, Incidents of Life and Adventure in the Rocky Mountain... New York, 1846. PRESENTATION COPY. $800 - $1,200
    Bonhams, Nov. 2-12: WILLUGHBY & RAY, JOHN. The Ornithology of Francis Willughby in three books... London, Martyn, 1678. $800 - $1,200
    Bonhams, Nov. 2-12: SUSAN B. ANTHONY. Autograph Quotation Signed, on equal rights "for men and women," Rochester, 1898. $1,000 - $1,500
    Bonhams, Nov. 2-12: FRANKLIN, BENJAMIN. Autograph Letter Signed integrally to Le Comte de Milly arranging a meeting with M. Broignard, Passy, 1778. $10,000 - $15,000
    Bonhams, Nov. 2-12: FRANKLIN, JEFFERSON, & ADAMS. Mansucript Signed by all three architects of the American ideal, requesting a Treaty of Amity and Commerce. $750,000 - $1,000,000
    Bonhams, Nov. 2-12: LINCOLN, ABRAHAM. Endorsement Signed, a pardon for a Confederate soldier, February 6, 1865. $4,000 - $6,000
    Bonhams, Nov. 2-12: NAPOLEON FORMALLY RATIFIES THE LOUISIANA PURCHASE. Document Signed ("James Monroe," "Robt. R. Livingston" and "Barbé-Marbois"). $100,000 - $200,000
    Bonhams, Nov. 2-12: JAMES MONROE ON THE DIFFICULTIES OF JAY'S TREATY. Autograph Letter Signed to Thomas Pinckney, Paris, January 17, 1795. $15,000 - $25,000
    Bonhams, Nov. 2-12: GIDEON WELLES FIRST HAND ACCOUNT OF FORT PICKENS AND FORT SUMTER ON THE EVE OF CIVIL WAR. Autograph Manuscript, 44 pp, c.1870. $4,000 - $6,000
    Bonhams, Nov. 2-12: SIGNED BY BORGES. Labyrinths: Selected Stories & Other Writings. 1962. First book publication in English. $4,000 - $6,000
    Bonhams, Nov. 2-12: LORENZO DOW TURNER'S COPY. LOCKE, ALAIN. The New Negro: an Interpretation. 1925. $1,000 - $1,500
  • Forum Auctions
    A Visual and Historical Voyage into the Ottoman World:
    The Library of a Gentleman
    14th November
    Forum, Nov. 14: Preziosi (Amedeo). Stamboul: Recollections of Eastern Life, first edition, Paris, Lemercier, 1858. £6,000 to £8,000.
    Forum, Nov. 14: Mayr (Heinrich von). Malerische Ansichten aus dem Orient. Vues Pittoresques de l'Orient, first edition in the original 10 parts, Munich, Paris & Leipzig, [1839-40]. £10,000 to £15,000.
    Forum, Nov. 14: Lewis (John Frederick). Illustrations of Constantinople, made during a Residence in that City &c. in the Years 1835-6, first edition, [1838]. £6,000 to £8,000.
    Forum, Nov. 14: Dodwell (Edward). Views in Greece, first edition, ordinary format, Rodwell and Martin, 1821. £8,000 to £12,000.
    Forum, Nov. 14: Cassas (Louis François). [Voyage Pittoresque de la Syrie, de la Phoenicie, de la Palæstube et de la Basse-Égypte], 3 vol., first edition, [Paris], [1799]. £8,000 to £12,000.
    Forum Auctions
    A Visual and Historical Voyage into the Ottoman World:
    The Library of a Gentleman
    14th November
    Forum, Nov. 14: La Chappelle (Georges). Recueil de Divers Portraits des Principales Dames de la Porte du Grand Turc, first edition, Paris, 1648. £8,000 to £12,000.
    Forum, Nov. 14: Fossati (Gaspard). Aya Sophia Constantinople as recently restored by order of H.M. the Sultan Abdul Medjid, first edition, ordinary format, 1852. £6,000 to £8,000.
    Forum, Nov. 14: Pertusier (Charles). Promenades Pittoresques dans Constantinople et sur les Rives du Bosphore, 4 vol., inc Atlas, first edition, Paris, H. Nicolle, 1815-17. £6,000 to £8,000.
    Forum, Nov. 14: Brindesi (Jean). Souvenirs de Constantinople, first edition, [Paris], [1855-60]. £4,000 to £6,000.
    Forum, Nov. 14: Le Bruyn (Cornelius). Voyage au Levant, first French edition, Delft, Henri de Kroonevelt, 1700. £3,000 to £4,000.

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