Rare Book Monthly

Articles - July - 2011 Issue

A Book Still Worth Reading:  Anatomy of an Auction

Subsequent sales used the same catalogues with new prices in code

Subsequent sales used the same catalogues with new prices in code

The re-sales worked this way.

All Items bought by the ring were offered in a first re-auction.  Those items for which no further advance was offered were declared the property of the initial high bidder.  Where there were higher bids control of the item shifted from the original named buyer to the new owner.  This ownership in turn was then potentially contested in the second re-auction.  For those items for which no higher bids were offered the second round owner then won the lot.  Items receiving higher bids became the property of the new winner who then was required to submit their items to one more round of bidding.  In the final round all high bids were declared winners and the ring bidding ended.  In this way items that brought a pittance in the public auction rose, in many cases, to astronomical levels during the succession of re-auctions, in one case realizing 60 times what it brought in the public sale.

Members of the ring then divided all monies paid in excess of the original winning bids equally for the first two rounds to all participants and then among continuing bidders in the final two rounds.   For those who participated through to the final round the prize was £470 pounds each [roughly equal to a year’s income at that time for most dealers] intended to buy their silence.  For participants in the first two rounds their take was £165.

This may not at that time have been illegal but it was certainly immoral.  No doubt, many of these ring member’s prior generations had sold the Foleys some of their books.
  

Later accusations and recriminations would breach the silence out after a few of the ring participants concluded others in the group had acted dishonestly.  Shocking!

How could this happen?

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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