Emotionally Satisfying Investments: Works on Paper
- by Bruce E. McKinney
For books, manuscripts, maps and ephemera: price change over 100 years
Arnoud Gerits, the President of ILAB, the International League of Antiquarian Booksellers, was interviewed recently in the Hong Kong Economic Times and mentioned that book collecting should be understood as a passion, not an investment. He’s quoted on book collecting:
“ILAB does not recommend buying books as a financial investment.” “Don’t buy them as an investment: it is the wrong angle to look at books. Buy them because you love books, you love a subject..."
Is he suggesting it’s not possible to both love books and buy them as investments? Book collectors certainly believe their books are investments.
I thought it was common knowledge and so decided to contact collectors to see if their perspectives have changed. They haven’t. They still view and apparently always have viewed, these purchases as investments, albeit ones that mature slowly and are often pursued for ancillary benefits. They did not go into collecting expecting to be buried in their books and do not expect it now. In fact, I haven’t found a single collector who subscribes to the “abandon hope all yea who enter here” approach implicit in the “don’t buy them as investments” idea. Dealers always expect to make profits and Mr. Gerits seems to be saying collectors should not. Collectors choose to invest in books because they have a passion for them, but they do not buy them believing they are costume jewelry. They view them as long-term investments and over all but the last five years they have been.
Forum Auctions Natural History: The remaining stock of Antiquariaat Junk, 1899-2026 25 March 2026
Forum, Mar. 25: Botany.- Andrews (H.C.) Coloured Engravings of Heaths, 4 vol. in 2, first edition, [1710,--94]-1802-1809-[1830]. £10,000 - £15,000.
Forum, Mar. 25: Butterflies.- Cramer (Pierre) and Caspar Stoll. De Uitlandsche Kapellen voorkomende in de drie Waereld-Deelen…,, 5 vol., Amsterdam & Utrecht, 1779-91. £8,000 - £12,000.
Forum, Mar. 25: Voyages.- Darwin (Charles) and others. Narrative of the Surveying Voyages of His Majesty's Ships Adventure and Beagle, 3 vol. in 4, including Appendix to vol.2, first edition, 1839. £8,000 - £12,000.
Forum, Mar. 25: Butterflies.- de Graaf (Willem Diederik Vincent). [Inlandsche Kapellen in beeld], 170 fine original watercolours, [Enkhuizen], [1800-40]. £8,000 - £12,000.
Forum Auctions Natural History: The remaining stock of Antiquariaat Junk, 1899-2026 25 March 2026
Forum, Mar. 25: Birds.- Dresser (Henry Eeles). A History of the Birds of Europe, 9 vol., including supplement, first edition, by the author, 1871-96. £6,000 - £8,000.
Forum, Mar. 25: Zoology.- Felines.- Elliot (Daniel Giraud). A Monograph of the Felidæ or Family of the Cats, first edition, for the Subscribers, by the Author, [1878]-1883. £25,000 - £30,000.
Forum, Mar. 25: Birds.- Frisch (Johann Leonard). Vorstellung der Vögel Deutschlandes, 2 vol., first edition, Berlin, Friedr. Wilhelm Birnsteil, [1736]-1763. £40,000 - £60,000.
Forum, Mar. 25: Birds.- Gould (John). The Birds of Great Britain, 5 vol., first edition, by the author, 1862-1873. £30,000 - £40,000.
Forum Auctions Natural History: The remaining stock of Antiquariaat Junk, 1899-2026 25 March 2026
Forum, Mar. 25: Pomology.- France.- Poiteau (A.) Pomologie Française. Recueil des Plus Beaux Fruits cultivés en France, 4 vol., Paris, 1846. £30,000 - £40,000.
Forum, Mar. 25: Botany.- [Robin (Jean)]. Histoire des Plantes, nouvellement trouvées en l'Isle Virgine…,, 1620; with Geoffrey Linocier L'Histoire des plantes, second edition, 1619-20. £3,000 - £4,000.
Forum, Mar. 25: Asia.- Japan.- Siebold (P.F. von). Nippon. Archiv zur Beschreibung von Japan, 7 parts in 6 vol., first edition, Leyden, [1832]-1852. £35,000 - £45,000.
Forum, Mar. 25: Asia.- Valentijn (Francois). Oud en Nieuw Oost-Indiën..., 5 vol. in 8, first edition, Dordrecht [&] Amsterdam, 1724-26. £8,000 - £12,000.
Forum, Mar. 25: Botany.- Australia.- Redouté (P.J.).- Ventenat (Étienne Pierre). Jardin de la Malmaison, 2 vol.,, Paris, 1803-04[-05]. £30,000 - £40,000.
Books & Autographs Wednesday 25 March
Koller, Mar. 25: KAFKA, FRANZ, SCHRIFTSTELLER. Eigenh. Brief mit Unterschrift. Prag, 20. Oktober [19]15. CHF 30,000-40,000.
Koller, Mar. 25: EINSTEIN, ALBERT. Zwei eigenhändige Briefe an Ernst Gabor Straus, unterschrieben "A.E" bzw. "A. Einstein". [Princeton], [19]45. und [1950]. CHF 30,000-40,000.
Koller, Mar. 25: HORTENSE DE BEAUHARNAIS, MUTTER VON NAPOLEON III. Album aus ihrem Besitz mit 69 Aquarellen und Pinselzeichnungen in Sepia oder Grau… CHF 14,000-18,000.
Koller, Mar. 25: ZOOLOGIE - ORNITHOLOGIE - Seligmann, Johann Michael. Verzameling van uitlandsche en zeldzaame Vogelen. Teile 1-8 (von 9) in 2 Bänden. Mit 421 prächtig altkolorierten Kupfertafeln. CHF 14,000-20,000
Koller, Mar. 25: BOTANIK - Berlèse, Lorenzo und Johann Jakob Jung. Iconographie du genre camellia... 3 Bände. Mit 300 Farbstichtafeln "a la poupée.” Paris, [1839-]1841-1843. CHF 12,000-18,000.
![<b>Forum, Mar. 25:</b> Botany.- [Robin (Jean)]. <i>Histoire des Plantes, nouv...](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/9a2a2dbe-8edf-4091-9a08-800f7aba747e.jpg "<b>Forum, Mar. 25:</b> Botany.- [Robin (Jean)]. <i>Histoire des Plantes, nouvellement trouvées en l'Isle Virgine…,</i>, 1620; with Geoffrey Linocier <i>L'Histoire des plantes,</i> second edition, 1619-20. £3,000 - £4,000.")
