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.
Sotheby's Fine Books, Manuscripts & More Discover Upcoming Auctions
Sotheby’s, Dec. 9: Coronelli, Vincenzo Maria. "Epitome Cosmografica." With the 6 circular celestial and terrestrial charts. 7,000 – 10,000 USD
Sotheby’s, Dec. 9: Hurley, Frank. Collection of 69 photographs taken during Ernest Shackleton's Endurance Expedition. 80,000 – 120,000 USD
Sotheby’s, Dec. 10: Sendak, Maurice. Original artwork for the inaugural "New York is Book Country" poster, 1979. 300,000 – 600,00 USD
Sotheby’s, Dec. 10: [Brontë, Emily, and Ann Brontë] — Ellis Bell and Acton Bell. An outstanding survival of the sisters' debut novels Estimate. 90,000 - 130,000 USD
Bonhams, Dec. 18: A Very Fine Composite Atlas Magnificently Illuminated and Heightened with Gold in a Fine Contemporary Hand Throughout. $300,000 - $500,000
Bonhams, Dec. 18: Saint-Exupéry's Revised Ending for Wind, Sand and Stars. $40,000 - $60,000
Bonhams, Dec. 18: Edith Wharton's Gold Medal from the National Institute of Arts and Letters, 1924. $20,000 - $30,000
Bonhams, Dec. 18: Salinger on the Glass Family and on Detachment. $10,000 - $15,000
Bonhams, Dec. 18: Fanny Burney's Groundbreaking First Novel. Evelina, Or a Young Lady's Entrance into the World. $10,000 - $15,000
Bonhams, Dec. 18: Kafka's Earliest Extant Piece of Writing. Autograph Note Signed ("Franz Kafka"). $10,000 - $15,000
Bonhams, Dec. 18: Wagner Signed "Ride of the Valkries." $6,000 - $9,000
Bonhams, Dec. 18: Dickens on the Death of Little Nell. $5,000 - $8,000
Bonhams, Dec. 18: Sylvia Plath's Copy of Joy of Cooking. $4,000 - $6,000
Bonhams, Dec. 18: Walt Whitman and Friends: Whitman to James Russell Lowell. $8,000 - $12,000
Bonhams, Dec. 18: Walt Whitman and Friends: The Genesis of his Lincoln Lectures. $6,000 - $9,000
High Bids Win, Dec. 4 – 19: Lot 212. Kelsey Letterpress
High Bids Win, Dec. 4 – 19: Wood & Metal Type. Many fonts and faces.
High Bids Win, Dec. 4 – 19: Print Shop Miscellany including type, tools, and equipment.
Fonsie Mealy’s, Dec. 11-12: A Rare Complete Run of the Cuala Press Broadsides. €5,500 to €7,000.
Fonsie Mealy’s, Dec. 11-12: Rare First Edition of a Classic Work. [Stafford (Thos.)] Pacata Hibernia, Ireland Appeased and Reduced…, 1633. €1,500 to €2,000.
Fonsie Mealy’s, Dec. 11-12: Yeats (W.B.) The Poems of W.B. Yeats, 2 vols. Lond. (MacMillan & Co.) 1949. Signed by author, limited edition. €1,250 to €1,750.
Fonsie Mealy’s, Dec. 11-12: Fishing: Literal Translation into English of the Earliest Known Book on Fowling and Fishing, Written originally in Flemish and Printed at Antwerp in 1492. London (Chiswick Press) 1872. €1,500 to €2,000.
Fonsie Mealy’s, Dec. 11-12: Fishing: Blacker's - Art of Fly Making, etc., Comprising Angling & Dying of Colours..., Rewritten & Revised. Lond. 1855. €250 to €350.
Fonsie Mealy’s, Dec. 11-12: Joyce (James). Finnegans Wake,, London (Faber & Faber Ltd.) 1939, Lim. Edn. No. 269 (425) copies, Signed by the Author (in green pen). €3,000 to €4,000.
Fonsie Mealy’s, Dec. 11-12: Synge (J.M.) & Yeats (Jack B.) illus. The Aran Islands,, D. (Maunsel & Co. Ltd.) 1907, Signed Limited Edn. €4,000 to €5,000.
Fonsie Mealy’s, Dec. 11-12: Meyer (Dr. A.B.) Unser Auer -, Rackel-Und Birkwild und Seine Abarten, Wien (Verlag Von Adolph W. Kunast) 1887. €2,500 to €3,500.
Fonsie Mealy’s, Dec. 11-12: Carve (Thomas). Itinerarium R.D. Thomas Carve Tripperariensis, Sacellani Maioris in Fortisima iuxta…,, Moguntia (Mainz) impriemebat Nicolaus Heyll, 1639. €1,500 to €2,000.
Fonsie Mealy’s, Dec. 11-12: Grose (Francis). The Antiquities of Ireland, 2 vols. folio London (for S. Hooper) 1791. First Edition. €3,000 to €5,000.
Fonsie Mealy’s, Dec. 11-12: Heaney (Seamus) & Le Brocquy (Louis) artist. Ugolino, D. (Dolmen Press) 1979, Signed Limited Edition No. 87 (125) Copies. €3,500 to €4,500.
![<b>Sotheby’s, Dec. 10:</b> [Brontë, Emily, and Ann Brontë] — Ellis Bell and Acton Bell. An outstanding survival of the sisters' debut novels Estimate. 90,000 - 130,000 USD](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/b074d0c9-0c77-4e80-a457-f59c4262ea72.png "<b>Sotheby’s, Dec. 10:</b> [Brontë, Emily, and Ann Brontë] — Ellis Bell and Acton Bell. An outstanding survival of the sisters' debut novels Estimate. 90,000 - 130,000 USD")
![<b>Fonsie Mealy’s, Dec. 11-12:</b> Rare First Edition of a Classic Work. [Stafford (Thos.)] <i>Pacata Hibernia, Ireland Appeased and Reduced…,</i> 1633. €1,500 to €2,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/2bfa5105-2bf9-4a52-8ab5-45f3ef7b1eb4.jpg "<b>Fonsie Mealy’s, Dec. 11-12:</b> Rare First Edition of a Classic Work. [Stafford (Thos.)] <i>Pacata Hibernia, Ireland Appeased and Reduced…,</i> 1633. €1,500 to €2,000.")
![<b>Fonsie Mealy’s, Dec. 11-12:</b> Heaney (Seamus). <i>Eleven Poems,</i> Belfast (Festival publications - Queens University) [1965], First Edn., (First Issue) Signed. €2,500 to €3,500.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/d8cd5291-2e7d-4a24-8d22-f316554ec8f8.jpg "<b>Fonsie Mealy’s, Dec. 11-12:</b> Heaney (Seamus). <i>Eleven Poems,</i> Belfast (Festival publications - Queens University) [1965], First Edn., (First Issue) Signed. €2,500 to €3,500.")
