Rare Book Monthly

Articles - July - 2011 Issue

A Book Still Worth Reading:  Anatomy of an Auction

The garden of good and evil

The garden of good and evil

Whether through incompetence, or the auctioneer’s criminal complicity, - a possibility given the magnitude of their failure and the documented inclusion of several unidentified non-bidding participants in the ring, the stage was set for a ring, composed of some eighty complicit dealers, to agree among themselves to have only one representative of their coterie bid on each item.  To avoid the impression of ‘ringing’ they gave the responsibility for bidding to a group of shills in exchange for a share of the certain to be realized profits that would arise from the subsequent private re-auctions to be held by the conspirators once the original sale was completed.  To establish the highest price any of the ringers would pay, the premium above the original auction price to be shared by all conspirators equally, a series of after-auctions was held.  To ensure the ring bought all books its members wanted they when necessary ran up outside bidders to prices approaching retail, in this way killing outside interest in continuing to bid.  The auction house’s incompetence in description and weak promotion did the rest.

The books in the original sale brought £3,714 of which the ring paid £3,161 for 447 lots.  They ignored the rubbish and in other cases made competitors pay dearly.  Then in four subsequent rounds of private bidding ring members bid and paid in an additional £15,981 to establish the final prices and ultimate winners for the 447 lots and then divided the excess premium equally for the first two rounds of post-sale bidding and then proportionately to the ever smaller pools competing for the most valuable material.  The fact that records were kept and that Arthur and Janet Freeman carefully researched and told the story in 1990 is why it comes down to us today.  Their account confirms the ring’s collusion and conveniently calculates its scale.  What the ring paid £3,161 to acquire they immediately re-priced among themselves at £19,142, the original winning auction bids of £3,161 pounds and their additional premium of £15,981.  In doing this they thwarted the consignor and the auctioneers causing the books to pass to them for only 16.5% of what they immediately after agreed to pay. 

Rare Book Monthly

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  • Swann
    Maps & Atlases, Natural History & Color Plate Books
    December 9, 2025
    Swann, Dec. 9: Lot 156: Cornelis de Jode, Americae pars Borealis, double-page engraved map of North America, Antwerp, 1593.
    Swann, Dec. 9: Lot 206: John and Alexander Walker, Map of the United States, London and Liverpool, 1827.
    Swann, Dec. 9: Lot 223: Abraham Ortelius, Typus Orbis Terrarum, hand-colored double-page engraved world map, Antwerp, 1575.
    Swann
    Maps & Atlases, Natural History & Color Plate Books
    December 9, 2025
    Swann, Dec. 9: Lot 233: Aaron Arrowsmith, Chart of the World, oversize engraved map on 8 sheets, London, 1790 (circa 1800).
    Swann, Dec. 9: Lot 239: Fielding Lucas, A General Atlas, 81 engraved maps and diagrams, Baltimore, 1823.
    Swann, Dec. 9: Lot 240: Anthony Finley, A New American Atlas, 15 maps engraved by james hamilton young on 14 double-page sheets, Philadelphia, 1826.
    Swann
    Maps & Atlases, Natural History & Color Plate Books
    December 9, 2025
    Swann, Dec. 9: Lot 263: John Bachmann, Panorama of the Seat of War, portfolio of 4 double-page chromolithographed panoramic maps, New York, 1861.
    Swann, Dec. 9: Lot 265: Sebastian Münster, Cosmographei, Basel: Sebastian Henricpetri, 1558.
    Swann, Dec. 9: Lot 271: Abraham Ortelius, Epitome Theatri Orteliani, Antwerp: Johann Baptist Vrients, 1601.
    Swann
    Maps & Atlases, Natural History & Color Plate Books
    December 9, 2025
    Swann, Dec. 9: Lot 283: Joris van Spilbergen, Speculum Orientalis Occidentalisque Indiae, Leiden: Nicolaus van Geelkercken for Jodocus Hondius, 1619.
    Swann, Dec. 9: Lot 285: Levinus Hulsius, Achtzehender Theil der Newen Welt, 14 engraved folding maps, Frankfurt: Johann Frederick Weiss, 1623.
    Swann, Dec. 9: Lot 341: John James Audubon, Carolina Parrot, Plate 26, London, 1827.
  • SD Scandinavian Art & Rare Book Auctions
    The Odfjell Collection
    Polar – History – Ornithology – Colour Plate Books
    Ending December 4th
    Scandinavian Art & Rare Books Auctions, Dec. 4: ROALD AMUNDSEN: «Sydpolen» [ The South Pole] 1912. First edition in jackets and publisher's slip case.
    Scandinavian Art & Rare Books Auctions, Dec. 4: AMUNDSEN & NANSEN: «Fram over Polhavet» [Farthest North] 1897. AMUNDSEN's COPY!
    Scandinavian Art & Rare Books Auctions, Dec. 4: ERNEST SHACKLETON [ed.]: «Aurora Australis» 1908. First edition. The NORWAY COPY.
    Scandinavian Art & Rare Books Auctions, Dec. 4: ERNEST SHACKLETON: «The heart of the Antarctic» + SUPPLEMENT «The Antarctic Book», 1909.
    Scandinavian Art & Rare Books Auctions, Dec. 4: SHACKLETON, BERNACCHI, CHERRY-GARRARD [ed.]: «The South Polar Times» I-III, 1902-1911.
    SD Scandinavian Art & Rare Book Auctions
    The Odfjell Collection
    Polar – History – Ornithology – Colour Plate Books
    Ending December 4th
    Scandinavian Art & Rare Books Auctions, Dec. 4: [WILLEM BARENTSZ & HENRY HUDSON] - SAEGHMAN: «Verhael van de vier eerste schip-vaerden […]», 1663.
    Scandinavian Art & Rare Books Auctions, Dec. 4: TERRA NOVA EXPEDITION | LIEUTENANT HENRY ROBERTSON BOWERS: «At the South Pole.», Gelatin Silver Print. [10¾ x 15in. (27.2 x 38.1cm.) ].
    Scandinavian Art & Rare Books Auctions, Dec. 4: ELEAZAR ALBIN: «A natural History of Birds.» + «A Supplement», 1738-40. Wonderful coloured plates.
    Scandinavian Art & Rare Books Auctions, Dec. 4: PAUL GAIMARD: «Voyage de la Commision scientific du Nord, en Scandinavie, […]», c. 1842-46. ONLY HAND COLOURED COPY KNOWN WITH TWO ORIGINAL PAINTINGS BY BIARD.
    Scandinavian Art & Rare Books Auctions, Dec. 4: JAMES JOYCE: «Ulysses», 1922. FIRST EDITION IN ORIGINAL WRAPPERS.
  • Sotheby’s
    Book Week
    December 9-17, 2025
    Sotheby’s, Dec. 11: Darwin and Wallace. On the Tendency of Species to form Varieties..., [in:] Journal of the Proceedings of the Linnean Society, Vol. III, No. 9., 1858, Darwin announces the theory of natural selection. £100,000 to £150,000.
    Sotheby’s, Dec. 11: J.K. Rowling. Harry Potter and the Philosopher's Stone, 1997, first edition, hardback issue, inscribed by the author pre-publication. £100,000 to £150,000.
    Sotheby’s, Dec. 11: Wolfgang Amadeus Mozart. Autograph sketchleaf including a probable draft for the E flat Piano Quartet, K.493, 1786. £150,000 to £200,000.
    Sotheby’s, Dec. 12: Hooke, Robert. Micrographia: or some Physiological Descriptions of Minute Bodies made by Magnifying Glasses. London: James Allestry for the Royal Society, 1667. $12,000 to $15,000.
    Sotheby’s, Dec. 12: Chappuzeau, Samuel. The history of jewels, first edition in English. London: T.N. for Hobart Kemp, 1671. $12,000 to $18,000.
    Sotheby’s, Dec. 12: Sowerby, James. Exotic Mineralogy, containing his most realistic mineral depictions, London: Benjamin Meredith, 1811, Arding and Merrett, 1817. $5,000 to $7,000.

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