• <b>Bonhams:</b> SHAKESPEARE, WILLIAM. <i>Measure for Measure</i> (extracted from the First Folio). London, 1623. Sold for $52,575.
    <b>Bonhams:</b> HAWTHORNE, NATHANIEL. <i>Fanshawe, A Tale.</i> Boston, 1828. FIRST EDITION OF AUTHOR'S FIRST BOOK. Sold for $47,575.
    <b>Bonhams:</b> THOREAU, HENRY DAVID. <i>Walden; Or, Life in the Woods.</i> Boston, 1854. FINE COPY OF THE FIRST EDITION. Sold for $12,575.
    <b>Bonhams: </b> SHAKESPEARE, WILLIAM. <i>Comedies, Histories, and Tragedies.</i> London, 1685. THE FOURTH FOLIO, Brewster/Bentley issue. Sold for $43,825.
    <b>Bonhams:</b> STEIG, WILLIAM. Original maquette and 58 finished drawings for <i>The Agony in the Kindergarten,</i> one of Steig's most important books. Sold for $12,575.
    <b>Bonhams:</b> KING, STEPHEN. <i>Carrie.</i> New York, 1974. INSCRIBED FIRST EDITION, OF AUTHOR'S FIRST BOOK. Sold for $1,912.50.
    <b><center>Bonhams<br>Consignments invited (2020)</b>
    <b>Bonhams:</b> APPLE MACINTOSH PROTOTYPE. 1983. The earliest known Macintosh with "Twiggy" drive, one of only two known working machines. Sold for $150,075.
    <b>Bonhams:</b> LOVELACE, AUGUSTA ADA. Sketch of the Analytical Engine Invented by Charles Babbage Esq. London, 1843. FIRST EDITION, JOURNAL ISSUE, MOST IMPORTANT PAPER IN EARLY DIGITAL COMPUTING. Sold for $15,075.
    <b>Bonhams:</b> APPLE-1 COMPUTER. Signed by Steve Wozniak, used in development of Apple II. Sold for $175,075.
    <b>Bonhams:</b> DARWIN, CHARLES. 1809-1882. <i>On the Origin of Species By Means of Natural Selection.</i> London, 1859. FIRST EDITION. Sold for $131,325.
    <b>Bonhams:</b> BOOLE, GEORGE. <i>An Investigation of the Laws of Thought.</i> London, 1854. Sold for $12,575.
    <b>Bonhams:</b> SHANNON, CLAUDE and WARREN WEAVER. <i>The Mathematical Theory of Communication.</i> Urbana, 1949. Sold for $27,575.
  • <b>Sotheby’s, Jan. 27:</b> [Paine, Thomas]. Common Sense; Addressed to the Inhabitants of America… Philadelphia: R. Bell, 1776. $200,000 to $250,000.
    <b>Sotheby’s, Jan. 27:</b> Lincoln, Abraham. Autograph letter signed, to Joshua Reed Giddings, 21 May 1860. $80,000 to $120,000.
    <b>Sotheby’s, Jan. 27:</b> Oakley, Annie. <i>A Brief Sketch of Her Career and Notes on Shooting.</i> [N.p.]: ca. 1913, Signed. $2,000 to $3,000.
    <b>Sotheby’s, Jan. 27:</b> Washington, George. One autograph letter signed & 3 letters signed to General Alexander McDougall, September 1777. $70,000 to $100,000.
    <b>Sotheby’s, Jan. 27:</b> Mather, Cotton. <i>The Wonders of the Invisible World. Being an account of the tryals of several witches...</i> London: 1693. $30,000 to $40,000.
    <b>Sotheby’s, Jan. 27:</b> James, Benjamin.<i><br>A Treatise on the Management of the Teeth.</i> Boston, 1814. $2,000 to $3,000.
  • <center><b>Forum Auctions<br>Fine Books, Manuscripts<br>and Works on Paper<br>22nd January 2020</b>
    <b>Forum Auctions, Jan. 22:</b> Astronomical manuscript.- Kalendarium cum Tabulis Astronomicis; and other astronomical texts, [?Northern Italy (possibly Verona or Bologna), c.1470]. £40,000 to £60,000.
    <b>Forum Auctions, Jan. 22:</b> Melville (Herman). <i>Moby-Dick; or The Whale,</i> first American edition, New York, 1851. £10,000 to £15,000.
    <b>Forum Auctions, Jan. 22:</b> Malta.- Binding.- Sovereign Military Order of Malta.- <i>Gli Statuti della Sacra Religione di S. Gio: Gierosolomitano…</i> Rome, Giacomo Tornieri and Giacomo Ruffinello, 1589. £10,000 to £15,000.
    <center><b>Forum Auctions<br>Fine Books, Manuscripts<br>and Works on Paper<br>22nd January 2020</b>
    <b>Forum Auctions, Jan. 22:</b> Britain.- Jansson (Jan). <i>Novus atlas, sive theatrum orbis terrarum,</i> vol.4 only [Britain and Ireland], 56 double-page engraved maps, Amsterdam, 1659. £7,000 to £10,000.
    <b>Forum Auctions, Jan. 22:</b> Dodgson (Charles Lutwidge). <i>Alice's Adventures in Wonderland,</i> second (first published) edition, 1866; and 2 others from the series. £5,000 to £7,000.
    <b>Forum Auctions, Jan. 22:</b> Cervantès Saavedra (Miguel de). <i>Novelas Exemplares,</i> rare at auction, Milan, Giovanni Battista Bidelli, 1615. £4,000 to £6,000.
    <center><b>Forum Auctions<br>Fine Books, Manuscripts<br>and Works on Paper<br>22nd January 2020</b>
    <b>Forum Auctions, Jan. 22:</b> Tolkien (J.R.R.). Printed programme for the New College School, Oxford, production of The Hobbit, signed by Tolkien, 1967. £4,500 to £5,500.
    <b>Forum Auctions, Jan. 22:</b> Thucydides. <i>The hystory, writtone by Thucidides the Athenyan, of the warre, whiche was betwene the Peloponesians and the Athenyans,</i> first edition in English, 1550. £4,000 to £6,000.
    <b>Forum Auctions, Jan. 22:</b> Wesley (John). Autograph Letter signed "My Dear Sister [?Mary Stokes], exhorting her to write more often and dealing with her problems, 1773. £2,000 to £3,000.
    <b>Forum Auctions, Jan. 22:</b> Leaf from an illuminated book of hours with the Four Evangelists, illuminated by the workshop, or a close follower of the Maître de l'Échevinage. Northern France (possibly Rouen), c.1480. £2,000 to £3,000.
  • <center><b>Case Antiques<br>Important Two-Day Winter Auction<br>January 25 & 26, 2020</b>
    <b>Case Antiques, Jan. 25-26:</b> Signed Abraham Lincoln Civil War era document appointing Green Clay of Kentucky as Secretary of the Legation of the United States at St. Petersburg, Russia, July 15, 1861. $3,000 to $3,500.
    <b>Case Antiques, Jan. 25-26:</b> Original Bambi (1942) animation cel, inscribed Walt Disney's Bambi and signed Walt Disney. $3,000 to $3,500.
    <b>Case Antiques, Jan. 25-26:</b> Original Snow White animation cel, with Walt Disney signature on mat, lower right. $3,000 to $3,500.
    <center><b>Case Antiques<br>Important Two-Day Winter Auction<br>January 25 & 26, 2020</b>
    <b>Case Antiques, Jan. 25-26:</b> Civil Rights Era Archive relating to U.S. Deputy Marshal Dick Bagby (1933-2003) of Dallas, TX, including letters from President John F. Kennedy and Robert Kennedy, U.S. Attorney General. $1,400 to $1,800.
    <b>Case Antiques, Jan. 25-26:</b> President Andrew Jackson autograph letter, unsigned, regarding a special presentation cane sent via General John Moore McCalla to Gov. George Breathitt of Kentucky. January 18th, 1833. $800 to $1,200.
    <b>Case Antiques, Jan. 25-26:</b> Four (4) Presidential signed 17th/18th Century Books - two signed by Millard Fillmore, and two signed by James Buchanan. $1,000 to $1,200.
    <center><b>Case Antiques<br>Important Two-Day Winter Auction<br>January 25 & 26, 2020</b>
    <b>Case Antiques, Jan. 25-26:</b> President Andrew Jackson signed military commission document conferring on George Washington McLean the rank of Second Lieutenant of Marines. Signed January 4, 1834. $800 to $1,000.
    <b>Case Antiques, Jan. 25-26:</b> Three (3) Southern Maps, including two (2) Antonio Zatta 1778, one (1) South Carolina 1796. $600 to $800.
    <b>Case Antiques, Jan. 25-26:</b> Black Forest German Forestry Apprenticeship Certificate issued to Carl Heshel by Von Fahnenburg, the Forest Master from the Royal District, February 1, 1824. $500 to $550.
    <center><b>Case Antiques<br>Important Two-Day Winter Auction<br>January 25 & 26, 2020</b>
    <b>Case Antiques, Jan. 25-26:</b> Harper Lee, <i>TO KILL A MOCKINGBIRD,</i> signed 40th anniversary edition. NY: HarperCollins, 1999. $300 to $350.
    <b>Case Antiques, Jan. 25-26:</b> Archive of twenty-five (25) items related to the administration of President Dwight D. Eisenhower, President John Fitzgerald Kennedy, and President Lyndon Baines Johnson. $400 to $500.
    <b>Case Antiques, Jan. 25-26:</b> Sixteen (16) 20th Century Celebrity Autographed Books, including Paul Newman, A. E. Hotcher, Leonard Bernstein, Clint Eastwood, Norman Rockwell, Groucho Marx, Johnny Cash, and more. $300 to $350.

Rare Book Monthly

Articles - February - 2012 Issue

Borders is Buried, but Kobo Lives On

Borderskobo

Borders and Kobo were partners in sales in an earlier time.

The final significant steps in the dismemberment and burial of Borders have played out, and we now know how many bones are left to be picked over by creditors. Not many, at least if you are an unsecured creditor. The secured creditors will be paid in full, a lesson for everyone loaning money or selling goods on credit. A security interest provides a seat at the table, while unsecured creditors battle like dogs for the crumbs that are spilled below.

Last February, Borders filed for protection from creditors in bankruptcy court. Borders once had over 1,000 stores in America, and at the time of their filing, was still the second largest bookstore chain in America with 642 stores remaining. After the bankruptcy filing, the firm began paring down their weaker stores as it sought a buyer to take over the company as an ongoing business. It looked like that would happen in July, but creditors were dissatisfied with the offer and voted it down. Instead, they chose to shut Borders down, and liquidate its assets. The 399 stores still remaining in July were all shuttered down by the end of September.

Assets, including various leases and inventory were sold. The Borders name and mailing list was purchased by main rival Barnes & Noble for just under $15 million. More recently, its collection of internet URLs was sold for around three-quarters of a million dollars. Along the way, the sale of secured assets paid out the secured creditors in full. What remained unsure is how much the unsecureds, notably the publishing houses that supplied Borders their books on credit, would get. Now we know.

It isn't pretty. The good news is that it appears they will receive something on the high end of the expected range. The bad news is that this amount was expected to be something between 4 and 10 cents on the dollar. It now looks like the amount will be closer to a dime, but a dime is still a dime, not a dollar.

The last significant piece to go, and which figures to throw a few more pennies to those who are still owed between $812-850 million, is Borders' interest in Kobo. Kobo is the firm that made Borders' electronic readers. E-readers have been the success story of these difficult times for large bookstores. For Amazon, the quite successful online book and general merchant, the Kindle electronic reader has propelled them into the huge electronic tablet area, once the sole domain of Apple and its iPad. For Barnes & Noble, seeming to sink rapidly toward irrelevancy and perhaps the same fate as Borders, its Nook e-reader may prove to be the company's savior.

Borders had no e-reader of its own, nothing substantial enough to save the company. It bought its e-readers from Kobo. Kobo was formed by the Canadian bookseller Indigo. That firm held about a 50% interest in Kobo, having sought out investors to help the company along. One was Borders. Borders purchased a 10% share of the company. That is a relatively small percentage, and Kobo trails well behind Amazon and its Kindle, and Barnes & Noble and its Nook. Nevertheless, it does hold a couple of percentage points of the e-reader market, and while dominant nowhere, apparently has a piece in a lot of markets. It is stronger outside of the U.S. than within. In the end, this 10% share of Kobo was the one asset of at least modest value the bankrupt Borders could sell to provide a few more cents in repayments to its unsecured creditors.

Recently, Rakuten, a large Japanese internet retailer (some like to call it the “Amazon of Japan”), decided to purchase Kobo. They paid around $160 million for Chapters' share of the company. An offer was put in with the bankruptcy court for Borders' share, which the court has approved. Borders will receive something in the $27-$32 million range for its share. That is just a drop in the bucket towards the $850 million it owes, but for the unsecured creditors, it was a drop or nothing. And, for those who knew Borders in its final stages, when it finally got around to offering an e-reader, a piece of what was once a part of Borders will survive. Of course, a small electronic device will hardly fill the memories of those spacious floors and aisles, comfortable chairs, coffee and pastry, and long rows of shelves filled with your favorite new books. Keep pressing the buttons on your e-reader. That other experience is gone forever.

Rare Book Monthly

  • <b>One of a Kind Collectibles Auctions: Rare Autographs, Sports, Books and Photography. January 23, 2020</b>
    <b>One of a Kind Collectibles, Jan. 23:</b> Abraham Lincoln Endorsement Signed, March 16, 1865. Framed with a lithograph of Lincoln by Dwight C. Sturges.
    <b>One of a Kind Collectibles, Jan. 23:</b> Thomas Edison Stunning Signed Portrait.
    <b>One of a Kind Collectibles, Jan. 23:</b> Franz Liszt Signed Photo.
    <b>One of a Kind Collectibles Auctions: Rare Autographs, Sports, Books and Photography. January 23, 2020</b>
    <b>One of a Kind Collectibles, Jan. 23:</b> Subscription for Portraits of the Presidents Signed by J. Q. Adams, Polk, Jackson, Buchanan, and Writers Dickens, Bryant and More!
    <b>One of a Kind Collectibles, Jan. 23:</b> Vinson Supreme Court Signed Presentation Photo.
    <b>One of a Kind Collectibles, Jan. 23:</b> Marilyn Monroe & Joe DiMaggio Collection of Three Financial Items.
    <b>One of a Kind Collectibles Auctions: Rare Autographs, Sports, Books and Photography. January 23, 2020</b>
    <b>One of a Kind Collectibles, Jan. 23:</b> Rare Sigmund Freud ALS Related to Sexual Issues.
    <b>One of a Kind Collectibles, Jan. 23:</b> New York Yankees team signed baseball c.1937 including Gehrig, DiMaggio, Dickey, Gomez and others.
    <b>One of a Kind Collectibles, Jan. 23:</b> Salvador Dali Original Drawing in <i>Dali</i> by David Larkin.
    <b>One of a Kind Collectibles Auctions: Rare Autographs, Sports, Books and Photography. January 23, 2020</b>
    <b>One of a Kind Collectibles, Jan. 23:</b> Charles Wilson Peale, Association Miniature of Dr. Ebenezer Crosby after Charles Willson Peale. Gouache on ivory miniature attributed to Peale.
    <b>One of a Kind Collectibles, Jan. 23:</b> William McKinley Signed Oversize Photograph Incredible 20"x24".
    <b>One of a Kind Collectibles, Jan. 23:</b> Margaret Mitchell Signed <i>Gone With The Wind</i> -- First Edition.
  • <center><b>Chiswick Auctions<br>Books & Works on Paper<br>January 28, 2020</b>
    <b>Chiswick Auctions, Jan. 28:</b> <i>Byblia in vulgar ultimamente impressa,</i> illustrated, folio, Lazaro de Soardi & Bernardino Benali, Venice,1517. £8,000 to £12,000.
    <b>Chiswick Auctions, Jan. 28:</b> Milio (Agostino). <i>Nuovo dialogo delle devozioni del sacro monte della Verna,</i> FIRST and ONLY EDITION, illustrated, 4to, Stamperia Ducale, Florence, 1568. £800 to £1,200.
    <b>Chiswick Auctions, Jan. 28:</b> Joyce (James). <i>Ulysses,</i> First English edition, NUMBER 23 OF 2000 COPIES, , 4to, Egoist Press, Paris, 1922. £800 to £1,200.
    <b>Chiswick Auctions, Jan. 28:</b> Dumas (Marlene). <i>Doornrosie,</i> lithograph printed in colours, signed, 370 x 440 mm, 1989. £800 to £1,200.
    <b>Chiswick Auctions, Jan. 28:</b> Japanese Culture.- Kimbei (Kusakabe). Two albums of hand tinted albumen prints, each with 50 photos, each photo c.140 x 95mm, [late 19th century]. £800 to £1,200.
    <b>Chiswick Auctions, Jan. 28:</b> Miró (Joan) ARR. <i>Personnages sur Fond Noir,</i> NUMBER 38 OF 75 COPIES, lithograph, signed and dated, 305 x 445mm, 1948. £1,000 to £1,500.
    <b>Chiswick Auctions, Jan. 28:</b> Ray (Man). Autoportrait, photolithograph, initialled and inscribed by artist, ONE of 100 COPIES, 200 x 160mm, 1972. £800 to £1,200.
    <b>Chiswick Auctions, Jan. 28:</b> Wou-Ki (Zao). L'tang / The Pond, etching aquatint, number 2 of 3 only, signed by artist, 260 x 230 mm, Paris, Editions Galanis, 1972. £800 to £1,200.
    <center><b>Chiswick Auctions<br>Autographs & Memorabilia<br>January 28, 2020</b>
    <b>Chiswick Auctions, Jan. 28:</b> De Amicis (Edmondo). Postcards signed by Italian author and journalist Edmondo De Amicis, February 1897- August 1907. £2,000 to £3,000.
    <b>Chiswick Auctions, Jan. 28:</b> Live Aid.- Live Aid 1985 souvenir programme, signed by Bob Geldof, Cliff Richard, Paul McCartney, Linda McCartney, Freddie Mercury, and others, 1985-1991. £3,000 to £4,000.
    <b>Chiswick Auctions, Jan. 28:</b> 1944 Commonwealth Prime Ministers' Conference. Black and white, landscape photograph ft. all the Heads of Government of the British Commonwealth who attended the 1944 Prime Ministers' Conference in London, signed by all.
    <b>Chiswick Auctions, Jan. 28:</b> Walt Disney Production.- Dopey, original animation cel from Snow White approx. 180 x 180mm., Walt Disney Enterprises, 1937. £1,500 to £2,000.
    <b>Chiswick Auctions, Jan. 28:</b> Liszt (Franz). Carte-de-visite photograph by J.Ganz of Brussels of Franz Liszt, signed, 10 x 6.4cm, c. 1880. £1,000 to £1,500.
    <b>Chiswick Auctions, Jan. 28:</b> Fermi (Enrico). Autograph letter signed to Professor Tullio Levi Civita, 8vo, Florence, 9 May 1925; w/an autograph note from Professor Civita, 7 March 1934 (2). £1,800 to £2,200.
  • <b>Swann Auction Galleries Feb 13:</b> Emil Cardinaux, <i>Winter in der Schweiz,</i> 1921. $12,000 to $18,000.
    <b>Swann Auction Galleries Feb 13:</b> Evelyn Rumsey Carey, <i>Pan American Exposition / Niagara / Buffalo,</i> 1901. $7,000 to $10,000.
    <b>Swann Auction Galleries Feb 13:</b> Arnost Hofbauer, <i>Topicuv Salon,</i> 1898. $5,000 to $7,500.
    <b>Swann Auction Galleries Feb 13:</b> Alphonse Mucha, <i>Job,</i> 1896. $12,000 to $18,000.
    <b>Swann Auction Galleries Feb 13:</b> Georges de Feure, <i>Le Journal des Ventes,</i> 1898. $4,000 to $6,000.
    <b>Swann Auction Galleries Feb 13:</b> Alphonse Mucha, <i>Cycles Perfecta,</i> 1897. $15,000 to $20,000.
    <b>Swann Auction Galleries Feb 13:</b> Edward Penfield, <i>Orient Cycles / Lead the Leaders,</i> circa 1895. $8,000 to $12,000.
    <b>Swann Auction Galleries Feb 13:</b> Adrien Barrère, <i>L’Ideal du Touriste,</i> 1903. $3,000 to $4,000.
    <b>Swann Auction Galleries Feb 13:</b> Willem Frederick Ten Broek, <i>New York / Wereldtentoonselling / Holland – Amerika Lijn,</i> 1938. $6,000 to $9,000.
    <b>Swann Auction Galleries Feb 13:</b> Dwight Clark Shepler, <i>Sun Valley / Union Pacific.</i> $8,000 to $12,000.
    <b>Swann Auction Galleries Feb 13:</b> Sascha Maurer, <i>Flexible Flyer Splitkein / Smuggler’s Notch,</i> circa 1935. $2,000 to $3,000.
    <b>Swann Auction Galleries Feb 13:</b> Louis Bonhajo, <i>Vote / League of Women Voters,</i> 1920. $2,000 to $3,000.

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