While the market simmers, caught between continuing economic uncertainty and desire for appealing material, auction realizations continue to recover from the lows achieved in April when the market bottomed after a three-year decline. Since then the market, as reflected in median auction realizations, has signaled recovery. The news out of Europe, on Main Street and Wall Street in America, is emotion filled and flailing between end-of-the-world and beginning of the next pronouncements but for the rare book business it is increasingly looking like a soft bottom was achieved six months ago. For collectible works on paper the worst may be over.
There are two caveats. This success, to some extent, is being achieved at the expense of the ‘percentage of lots sold’ that has weakened as prices, apparently driven by higher reserves, are rising. Motivated sellers could further weaken this trend if/as they elect to pursue a higher percentage of lots sold.
The market today is still 25% off the high achieved in March 2008. Should the market bottom have been reached in April it was, at that point, off 27%. Finally, there appears to be a large volume of material waiting in the wings to be sold. If the flow of material, into the rooms, increases, prices will face renewed downward pressure. The market appears to be firming but is thin.
For potential sellers questions abound. If I sell quickly I can sell some material for better prices but may be left with 40% of the consignment unsold. If I choose to sell most or all the material my reserves will be lower and some prices therefore lower. The math probably looks like this:
With higher reserves 60% sells at prices we’ll call 100%
With medium reserves 75% sells at prices we’ll call 95%
With low reserves 90% sells at prices we’ll call 90%
Heritage, May 13: Isaac Asimov. I, Robot. The dedication copy, inscribed to John W. Campbell, Jr.
Heritage, May 13: Aldous Huxley. Brave New World. A fine copy, in a brilliant dust jacket.
Heritage, May 13: Ray Bradbury. Fahrenheit 451. Presentation copy, inscribed by the author.
Heritage, May 13: Robert A. Heinlein. Stranger in a Strange Land. A fine copy, signed by the author.
Heritage, May 13: Jules Verne. Twenty Thousand Leagues Under the Seas. Exceedingly rare true first American edition, first issue.
Bonhams, May 5 and Apr. 27 – May 6: 1481 ❧ THE FIRST VIEW OF VENICE. ROLEWINCK, WERNER. 1425-1502. $8,000 - $12,000.
Bonhams, May 5 and Apr. 27 – May 6: 1496 ❧ GREEK INCUNABLE. MANUTIUS, ALDUS. 1449-1515. $15,000 - $25,000
Bonhams, May 5 and Apr. 27 – May 6: 1544 ❧ THE SQUARING OF THE CIRCLE. FINÉ, ORONCE. 1494-1555. $4,000 - $6,000
Bonhams, May 5 and Apr. 27 – May 6: 1544 ❧ ONE OF THE MOST BEAUTIFUL SCIENTIFIC BOOKS OF THE RENAISSANCE. $12,000 - $18,000
Bonhams, May 5 and Apr. 27 – May 6: 1544 ❧ RENAISSANCE CYPHERS AND REBUSES. PALATINO, GIOVANNI BATTISTA. 1515-1575. $3,000 - $5,000
Bonhams, May 5 and Apr. 27 – May 6: 1588 ❧ "ONE OF THE MOST ELEGANTLY PRODUCED OF ALL TECHNOLOGICAL TREATISES." $15,000 - $25,000
Bonhams, May 5 and Apr. 27 – May 6: 1618 ❧ THREE DUTCH EMBLEM BOOKS BY DANIEL HEINSIUS BOUND IN ONE. $5,000 - $8,000
Bonhams, May 5 and Apr. 27 – May 6: 1710 ❧ A BEAUTIFULLY COLORED "PRINT BIBLE". BASNAGE, JAKOB. 1653-1723. $12,000 - $18,000
Bonhams, May 5 and Apr. 27 – May 6: 1818 ❧ EARLY COLOR LITHOGRAPHY. BARTH, JOHANN AUGUST. 1765-1818. $8,000 - $12,000
Bonhams, May 5 and Apr. 27 – May 6: 1896 ❧ KELMSCOTT CHAUCER: THE FINEST BOOK SINCE THE GUTENBERG BIBLE. $60,000 - $90,000
Bonhams, May 5 and Apr. 27 – May 6: 1903 ❧ DOVES PRESS MAGNUM OPUS: THE DOVES BIBLE. $10,000 - $15,000
Bonhams, May 5 and Apr. 27 – May 6: 1680 ❧ FREIBERG FÊTE BOOKS FROM THE GOURARY COLLECTION. $1,000 - $1,500
One of a Kind Auctions Tesla, Einstein & The American Presidency: Rare Historical Documents Ending April 30, 2026
One of a Kind Auctions, Apr. 30: The Republican Court; Autographs of George Washington, (Signers) Thomas Jefferson, Benjamin Harrison, John Dickinson, Charles Carroll of Carrollton and More!
One of a Kind Auctions, Apr. 30: Nikola Tesla Signed Holograph Manuscript Page from "Tidal Wave to Make War Impossible," Describing the World's First Conceived Remotely Operated Weapon of Mass Naval Destruction.
One of a Kind Auctions, Apr. 30: Albert Einstein — Incredible possibly Unique Signed & Inscribed Einsteins hand “Relativitätstheorie / A. Einstein” Booklet: Relativitätstheorie, 10th Ed., 1920, Original Wrappers.
One of a Kind Auctions Tesla, Einstein & The American Presidency: Rare Historical Documents Ending April 30, 2026
One of a Kind Auctions, Apr. 30: James Joyce Personal Copy of Finnegan's Wake (With Signature).
One of a Kind Auctions, Apr. 30: Buster Keaton Flamingo Films / Kennedy Productions Archive Group, 1933–1937.
One of a Kind Auctions, Apr. 30: Extremely rare Josiah Henson (Uncle Tom) Signature & Harriet Beecher Stowe Cabinet Card.
One of a Kind Auctions Tesla, Einstein & The American Presidency: Rare Historical Documents Ending April 30, 2026
One of a Kind Auctions, Apr. 30: William Livingston (Signer of DOI), the New Jersey State Convention had unanimously ratified the Federal Constitution.
One of a Kind Auctions, Apr. 30: Complete 1927 Tunney-Dempsey "Long Count" Fight Ticket Signed by George Getz, with 1923 Dempsey-Firpo Dinner Card and Jack Dempsey Signed Photograph.
One of a Kind Auctions, Apr. 30: James Buchanan Cabinet Signed Autograph album
One of a Kind Auctions, Apr. 30: CHARLES LINDBERGH SIGNS HIS NEW YORK CITY MAYORAL BANQUET INVITATION, JUNE 14, 1927 — THREE WEEKS AFTER THE TRANSATLANTIC FLIGHT
Gros & Delettrez, May 5: APRÈS de MANNEVILLETTE, Jean-Baptiste d’- Le Neptune Oriental.
Gros & Delettrez, May 5: DELISLE, Guillaume – Atlas françois,1725.
Gros & Delettrez, May 5: HONTER. SOPHOCLE - Recueil composite réunissant deux ouvrages.
Gros & Delettrez, May 5: PHÉROTÉE DE LA CROIX, A. - Algemeene weereld-beschryving.
Gros & Delettrez, May 5: LA PÉROUSE, Jean-François de Galaup de - Voyage autour du monde.
Gros & Delettrez, May 5: BLAEU, Guillaume & Jean -Septième volume de la Géographie Blaviane.
Gros & Delettrez, May 5: TATIKIAN, Boğos - Figures et costumes du Levant.
Gros & Delettrez, May 5: GIRAULT DE PRANGEY, Joseph-Philibert -Monument arabes et moresques de Cordoue, Séville et Grenade.
Gros & Delettrez, May 5: CHAMPOLLION le jeune. Monuments de l’Egypte et de la Nubie.
Gros & Delettrez, May 5: CASSAS, Louis-François. - Voyage pittoresque de la Syrie, de la Phénicie, de la Palestine et de la Basse Egypte.
Gros & Delettrez, May 5: SONNERAT, Pierre. Voyage aux Indes orientales et à la Chine.
Gros & Delettrez, May 5: GARNIER, Francis. Voyage d'exploration en Indo-Chine.
Gros & Delettrez, May 5: SUBERBIE, Alix (E. SMITH). Dessins et aquarelles de Madagascar.
Gros & Delettrez, May 5: BYRON -Viage del comandante Byron.
Sotheby’s Précieuses reliures d’une bibliophile Collection Georgette J. Salles Open for bidding 8-29 April
Apr. 8-29: Delaunay, Sonia — Blaise Cendrars. La Prose du Transsibérien. 1913. €120,000 to €180,000.
Apr. 8-29: Picasso, Pablo — Georges Hugnet. La Chèvre-feuille. 1943. €80,000 to €120,000.
Apr. 8-29: Schmied, François-Louis ─ Joseph-Charles Mardrus. Cantique des cantiques. 1925. €30,000 to €50,000.
Apr. 8-29: Bonnard, Pierre — Paul Verlaine. Parallèlement. 1900. €30,000 to €50,000.
Apr. 8-29: Derain, André — Guillaume Apollinaire. L’Enchanteur pourrissant. 1909. €20,000 to €30,000.
