• <b><center>Sotheby’s<br>Music<br>Online Auction<br>2-13 December 2022</b>
    <b>Sotheby’s, Dec. 2-13:</b> J. Brahms. Important series of 44 autograph letters signed, to Friedrich Chrysander, mostly unpublished, 1869-1894. £80,000 to £120,000.
    <b>Sotheby’s, Dec. 2-13:</b> J. Sibelius. Remarkable collection of 22 letters signed, to Werner Janssen, 1934-1957. £10,000 to £15,000.
    <b>Sotheby’s, Dec. 2-13:</b> [Mozart, W.A.] F. Zeffirelli. Stage set design for the Covent Garden production of "Don Giovanni", signed, 1963. £1,000 to £1,500.
    <b>Sotheby’s, Dec. 2-13:</b> J. Rutter. Autograph composing manuscript of "A Ukrainian Prayer", 2022. £3,000 to £4,000.
  • <center><b>Fonsie Mealy’s<br>Christmas Rare Books<br>& Collectors’ Sale<br>6th and 7th December</b>
    <b>Fonsie Mealy’s, Dec. 6-7:</b> The Corner-stone Document of Irish Freedom. 1916 PROCLAMATION OF THE IRISH REPUBLIC. £140,000 to £180,000.
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Joyce's Modern Masterpiece, in its one-and-hundredth Year. Joyce (James). <i>Ulysses.</i> Paris, Shakespeare & Co. 1922. £15,000 to £25,000.
    <b>Fonsie Mealy’s, Dec. 6-7:</b>A Request from Mr. Joyce. Joyce (James). Autograph Letter Signed to 'Dear Mr [Thomas] Pugh,' dated 6.8.1934. £6,000 to £8,000.
    <center><b>Fonsie Mealy’s<br>Christmas Rare Books<br>& Collectors’ Sale<br>6th and 7th December</b>
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Dun Emer Press: Yeats (Wm. Butler). <i>Stories of Red Hanrahan,</i> 8vo Dundrum 1904. Signed by Author. £1,000 to £1,500.
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Binding: <i>Specimens of Early English Poets,</i> 8vo Lond. (For Edwards, Pall Mall) 1790. £500 to £700.
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Harry Clarke: Walter (L. D'O.) <i>The Years at the Spring,</i> An Anthology of Recent Poetry. 4to New York (Brentano's) 1920. Special signed limited edition. £1,500 to £2,000.
    <center><b>Fonsie Mealy’s<br>Christmas Rare Books<br>& Collectors’ Sale<br>6th and 7th December</b>
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Kipling (Rudyard). <i>Works,</i> including Writings, Novels, Poems etc. Bombay Edition, 31 vols. roy 8vo Lond. (MacMillan & Co.) 1913-1938. Signed by Author. £1,500 to £2,000.
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Dunraven (Edwin, Third Earl of). <i>Notes on Irish Architecture,</i> Ed. by Margaret Stokes, 2 vols. lg. folio Lond. 1875-1877. Castle Hackett copy. £1,500 to £2,400.
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Kirby (Wm.) & Spence (Wm.) <i>An Introduction to Entomology,</i> 4 vols. 8vo Lond. 1822. With hand-coloured plates. £200 to £300.
    <center><b>Fonsie Mealy’s<br>Christmas Rare Books<br>& Collectors’ Sale<br>6th and 7th December</b>
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Heaney (Seamus). <i>Death of a Naturalist,</i> 8vo Lond. (Faber & Faber) 1966 First Edition - Third Impression. Signed, & inscribed on title page 'Seamus Heaney’. £800 to £1,200.
    <b>Fonsie Mealy’s, Dec. 6-7:</b> Glasgow Printing: Homer - <i>Iliad and Odyssey,</i> 4 vols. in 2, Glasgow (Robert & Andrew Foulis) 1756-1758. £1,0000 to £1,500.
  • <b><center>Aste Bolaffi<br>Rare Books and Autographs<br>December 14-15, 2022</b>
    <b>Aste Bolaffi, Dec. 14-15:</b> Two first editions by Adrian Spigelius in a Sammelband: <i>De humani corporis fabrica</i> from 1627 and <i>De formato foetu</i> from 1626. €15,000 to €20,000.
    <b>Aste Bolaffi, Dec. 14-15:</b> Splendid coloured copy by Frederick De Wit, <i>Atlas maior,</i> Amsterdam, 1705. €20,000 to €30,000.
    <b>Aste Bolaffi, Dec. 14-15:</b> First edition by Marco Ricci, <i>Varia Marci Ricci Pictoris prestantissimi Experimenta,</i> Venice, Orsolini, 1723-1730. €20,000 to €25,000.
    <b><center>Aste Bolaffi<br>Rare Books and Autographs<br>December 14-15, 2022</b>
    <b>Aste Bolaffi, Dec. 14-15:</b> First edition by MicheleMarieschi, <i>Magnificentiores selectioresque Urbis Venetiarum prospectus,</i> Venice, 1741. €30,000 to €40,000.
    <b>Aste Bolaffi, Dec. 14-15:</b> Magnificent album by Louis-Leopold Boilly, Collection de dessins, calques et acquerelles, 1822. €20,000 to €25,000.
    <b>Aste Bolaffi, Dec. 14-15:</b> Rare musical score by Gioachino Rossini from 1858. €6,500 to €7,500.

Rare Book Monthly

Articles - November - 2011 Issue

The Market Recovers - a Bit

Chart red line

A break in the fall or a recovery?

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%

Rare Book Monthly

  • <center><b>19th Century Rare Book & Photograph Shop<br>Catalogue 195<br>Magnificent Books & Manuscripts<br>Free on request</b>
    <b>19th Century Shop, Catalogue 195:</b> Benjamin Franklin on Electricity. Inscribed presentation copy.
    <b>19th Century Shop, Catalogue 195:</b> Frederick Douglass. Letter on civil war and the end of slavery.
    <b>19th Century Shop, Catalogue 195:</b> Carleton Watkins. A major American West photo album.
    <b>19th Century Shop, Catalogue 195:</b> Einstein. General Theory of Relativity inscribed by Einstein.
    <b>19th Century Shop, Catalogue 195:</b> The Federalist. Rare deluxe thick-paper copy.
    <b>19th Century Shop, Catalogue 195:</b> Emma Johnston. Archive of 350 salt prints by a Victorian female photographer.
  • <b>Bonhams, Dec. 13:</b> KEPLER INVESTIGATES PLANETARY MOTION. KEPLER, JOHANNES. 1571-1630. $400,000 to $600,000
    <b>Bonhams, Dec. 13:</b> THE FINAL ILLUSTRATION OF POOH AND PIGLET IN THE HUNDRED ACRE WOOD. $250,000 to $350,000
    <b>Bonhams, Dec. 13:</b> GUTENBERG BIBLE LEAF. $60,000 to $90,000
    <b>Bonhams, Dec. 13:</b> ORTELIUS, ABRAHAM. 1527-1598. $20,000 to $30,000
    <b>Bonhams, Dec. 13:</b> KNIGHT, HILARY. "Christmas Dinner at Maxime de la Falaise's" $4,000 to $6,000
    <b>Bonhams, Dec. 13:</b> GERSHWIN WORKING MUSICAL MANUSCRIPT PAGE FROM <i>OF THEE I SING.</i> $3,000 to $5,000
    <b>Bonhams, Dec. 13:</b> GILBERT, W.S. Original typed manuscript for <i>The Story of the Mikado.</i> $20,000 to $30,000
    <b>Bonhams, Dec. 13:</b> FINAL TYPED MANUSCRIPT FOR V.C. ANDREWS CLASSIC <I>FLOWERS IN THE ATTIC.</I> $4,000 to $6,000
    <b>Bonhams, Dec. 13:</b> ANNOTATED TYPESCRIPT DRAFT FOR KIPLING'S FINAL MOWGLI STORY. $20,000 to $30,000
    <b>Bonhams, Dec. 13:</b> PRESENTATION COPY OF GUYS AND DOLLS. $12,000 to $18,000
    <b>Bonhams, Dec. 13:</b> CHARLES DICKENS' CHINA INKWELL FEATURING A BEE READING, FROM GAD'S HILL. $6,000 to $8,000
    <b>Bonhams, Dec. 13:</b> NELSON'S BATTLE PLAN FOR TRAFALGAR. $200,000 to $300,000
  • <b><center>Leland Little Auctions<br>The Signature Winter Auction<br>December 3, 2022</b>
    <b>Leland Little, Dec. 3:</b> Brinkley, Francis. <i>The Art of Japan,</i> Boston, 1897. The very rare complete Shogun edition. $4,000 to $8,000.
    <b>Leland Little, Dec. 3:</b> Sun Tzu. <i>Art Militaire des Chinois, ou recueil d'ancins traités sur la guerre composés avant l'ere chrétienne, par différents généraux chinois,</i> Paris, 1772. First European edition. $2,000 to $4,000.
    <b>Leland Little, Dec. 3:</b> First English Translation, St. Augustine's <i>Of the Citie of God: With the Learned Comments of Io. Lod. Vives…,</i> London, 1610. $2,500 to $3,500.
    <b><center>Leland Little Auctions<br>The Signature Winter Auction<br>December 3, 2022</b>
    <b>Leland Little, Dec. 3:</b> Philipp Franz von Siebold (1796-1866). Five <i>Nippon</i> Folios on Japan, 1832 [and] later 19th century [and] 1931. $1,000 to $2,000.
    <b>Leland Little, Dec. 3:</b> Mason (George Henry). <i>The Punishments of China, Illustrated by Twenty-Two Engravings: with Explanations in English and French,</i> London, 1808/1817. $800 to $1,200.
    <b>Leland Little, Dec. 3:</b> Hobbes, Thomas (of Malmesbury). <i>Leviathan, or the Matter, Form, and Power of a Common-wealth Ecclesiastical and Civil,</i> London, “1651,” ca. 1680. $800 to $1,200.
  • <center><b>Swann Auction Galleries<br>Maps & Atlases, Natural History & Color Plate Books<br> December 8, 2022</b>
    <b>Swann December 8:</b> Friedrich Justin Bertuch, <i>Bilderbuch für Kinder,</i> Weimar, 1792, 1798, 1802, 1805, 1822. $1,200 to $1,800.
    <b>Swann December 8:</b> Sebastian Münster, <i>Novae Insulae XXVI Nova Tabula,</i> Basel, 1552. $2,500 to $3,500.
    <b>Swann December 8:</b> Sebastian Münster & Hans Holbein, <i>Typus Cosmographicus Universales,</i> Basel, 1532. $7,000 to $10,000.
    <b>Swann December 8:</b> Franz Unger, <i>Die Urwelt in Ihren Verschiedenen Bildungsperioden,</i> 16 tinted lithographed plates, Weigel, 1858. $1,000 to $1,500.
    <b>Swann December 8:</b> Charles Varle, Wiliam Warner & Andrew Hanna, <i>Plan of the City of Environs of Baltimore,</i> Baltimore, 1801. $8,000 to $12,000.

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