AE has updated its “Trends in Book Auction Prices” providing evidence the muted recovery, as measured by median lot realizations, that took hold in March 2009 continues to find traction today. The median lot value in April was $369, up from the low of $350 made in April 2010 but far below the high of $482 achieved in March 2008. These results suggest the market will continue to recover at a modest rate for at least another year.
Some distortion in the numbers may be due to more material being diverted into the rooms. If a dealer’s sales are soft the ready option is always to send expendables into the rooms. Probably weighing down prices overall is the increasing volume of material on offer. This past April close to a hundred sales took place. Five years ago this was an unthinkable number.
At the same time the houses seem to be requiring lower reserves if not estimates. The business makes money north of 70% and the 12-Month Moving Average of Sell Through is now reflecting a 2% decline from the previous 70%. The rate of sale is probably the most crucial metric for a house in determining its strategy.
Within these statistics there is another story, the relationship between auction and dealer sales. We have no hard data on dealer sales but believe that auction hammer prices [to which auction commission must be added] are barely 50% of dealer retails before discounts.
Taken together, this is probably what the recovery in the rare book trade looks like in a world economy that takes its temperature every 24 hours and keeps asking “Am I okay?”
Aste Bolaffi, June 17-18: Galileo Galilei. Dialogo sopra i due massimi sistemi del mondo tolemaico, e copernicano. Firenze, 1632
Aste Bolaffi, June 17-18: Saverio Manetti. Storia naturale degli uccelli. Firenze, 1771-76
Aste Bolaffi, June 17-18: Fortunato Depero. Depero futurista. Rovereto, 1927
Aste Bolaffi, June 17-18: Nicolas Visscher. Atlas minor sive totius orbis terrarum contracta delineat ex conatibus. Amsterdam, circa 1649-95
Aste Bolaffi, June 17-18: Andreas Vesalius. Anatomia. Addita nunc. Antiquorum Anatome. Venezia, 1604
Aste Bolaffi, June 17-18: Tristan Tzara and Salvador Dalì. Grains et Issues. Parigi, 1935
June 25, 2026
Doyle, June 25: Houdini's biography, boldly signed. $3,000 to $5,000.
Doyle, June 25: A volume from Abraham Lincoln's library, signed just before heading to Washington for his inauguration. $20,000 to $30,000.
Doyle, June 25: A very early Confederate recruiting manual belonging to the chief commissary in Lee's Army. $600 to $800.
Doyle, June 25: Rare hand-colored lithographs of the life of Napoleon. $20,000 to $30,000.
Doyle, June 25: The "Holster Atlas" of the American Revolution. $5,000 to $8,000.
Doyle, June 25: Jewish ceremonies in fine hand-colored engravings. $7,000 to $10,000.
Doyle, June 25: A very rare work on Turkish military costume. $1,000 to $1,500.
June 25, 2026
Doyle, June 25: The most important illustrated work on the Mexican-American War. $10,000 to $15,000.
Doyle, June 25: The finest illustrated book on Afghanistan. $10,000 to $15,000.
Doyle, June 25: Henry Justice Ford St. George rescues the Princess from the horrible Dragon. $2,000 to $3,000.
Doyle, June 25: A rare work of Prussian Army uniforms under Frederick William II, with exquisite hand-colored engravings. $800 to $1,200.
Doyle, June 25: Lenny Bruce typed letter signed to a Village bohemian during his obscenity trials, with a manuscript note and drawing. $300 to $500.
Doyle, June 25: Schiff's scarce Shanghai Sketchbook. $300 to $500.
Doyle, June 25: The first accurate published representation of the American flag. $2,000 to $4,000.
Old World Auctions (June 17): Lot 123. Celebrate 250 Years of Independence with Original Stars and Stripes (1790) Est. $1,400 - $1,700
Old World Auctions (June 17): Lot 20. Keulen's Spectacular Chart of the World Featuring California as an Island (1728) Est. $12,000 - $15,000
Old World Auctions (June 17): Lot 42. Schedel's Ancient World Map with Fantastic Humanoid Creatures (1493) Est. $14,000 - $17,000
Old World Auctions (June 17): Lot 591. Matching Set of 3 Stunning Globe Gores of Eastern Asia from Coronelli's 3.5 Foot Globe (1688) Est. $5,500 - $7,000
Old World Auctions (June 17): Lot 9. Speed's Popular World Map with Allegorical Representations of the Elements (1651) Est. $14,000 - $17,000
Old World Auctions (June 17): Lot 168. First Separate Map of Kansas & Nebraska Territories (1854) Est. $5,500 - $7,000
Old World Auctions (June 17): Lot 43. Only Macrobius Map with Britain Attached to Europe (1515) Est. $800 - $950
Old World Auctions (June 17): Lot 250. Rare Map of Boston and One of the Earliest Maps of the Revolutionary War (1775) Est. $2,000 - $2,300
Old World Auctions (June 17): Lot 79. Schenk's Uncommon Map Featuring Two Figurative Title Cartouches (1696) Est. $1,200 - $1,500
Old World Auctions (June 17): Lot 681. Hand-Colored Image of the Annunciation to the Shepherds (1502) Est. $800 - $950
Sotheby's Book Week 2 June - 9 July
Sotheby’s, June 25: Smith, Adam. The Wealth of Nations, on its 250th anniversary. $180,000 to $250,000.
Sotheby’s, June 17: Fontana, Lucio. Concetto Spaziale. 1967. Leporello en papier doré. Bel exemplaire signé. €4,000 to $€,000.
Sotheby’s, June 25: Fitzgerald, F. Scott. "So we beat on, boats against the current, borne back ceaselessly into the past”. $150,000 to $200,000.
Sotheby’s, June 25: Washington, George (as First President). Washington decries “an ostentatious imitation, or mimickry of Royalty” in his Presidency. $250,000 to $500,000.
Sotheby’s, June 17: Lope de Vega. Rare manuscrit autographe signé de la préface dédicatoire de "El Cardenal de Belen" (le cardinal de Bethléem), pièce composée en 1610. €40,000 to €60,000.
