Abe Increases Rates;<br>Alibris is Going Public.<br>What’s Next for the Book Sites?
- by Michael Stillman
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The second news item to appear in the past month was the announcement by Alibris that they would be going public. No date has yet been set for the offering of stock nor have they yet estimated how much money will be raised. Alibris is second only to Abe in the category of used book websites. Their fees are hefty: 20% of the purchase price. Unlike Abe, all of their sales are through their website. You buy from Alibris, rather than from an Alibris independent bookseller. A downside to this fee is that some booksellers will charge more for a book on Alibris than for the same book sold elsewhere, although this can happen on Abe and may happen more in the future with their increased commissions.
Exactly what Alibris plans to do with the money they raise is unclear. In their recent filing with the Securities and Exchange Commission they say, “We presently intend to use a portion of the net proceeds from this offering to grow our product supply, expand marketing and sales and invest in technology and operations infrastructure. In addition, we may use a portion of the net proceeds of this offering to acquire complementary technologies or businesses…” That’s sufficiently broad and vague to not really tell us much of anything. Their financial reports show rapid sales increases, more than doubling between 2001 and 2003, but also show significant losses and cash outflow. The offering may be more about funding current plans until the company becomes cash flow positive than about funding new ventures. As to whether this stock offering is a vehicle for current owners to cash out, none of the shares being sold are those held by present shareholders (all are being sold by the company itself). However, current shareholders will be able to sell most of their shares after a waiting period of no more than six months (and the rest within a year) if they so choose. To see Alibris’ SEC filing, go to Hoover’s Online at http://www.hoovers.com/alibris/--ID__100912--/free-co-factsheet.xhtml.
Returning to Abebooks, its increase is not quite as substantial as it may seem. The reality is many transactions generated through the Abe listings are concluded outside of the Abe website. Abe sellers’ names are visible. You can contact the Abe seller directly about a book before placing an order. Personal relationships between seller and buyer are very important to many booksellers’ businesses. Rather than closing off this relationship, Abe facilitates it. The downside for Abe is that through these independent contacts, the bookseller can simply sell the book directly to the customer. The seller can avoid paying the commission and Abe will be none the wiser. This is a common practice, and probably the rule when it comes to expensive books. Abe has preserved the important relationship between buyer and seller, but the reality is this is a major loophole in its ability to make money. Were it not for this loophole, Abe might well charge a substantially lower commission, one that most booksellers might consider de minimus.
Heritage, Dec. 15: Jerry Thomas. How to Mix Drinks, or the Bon-Vivant's Companion, Containing Clear and Reliable Directions for Mixing All the Beverages Used in the United States…
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Bonhams, Dec. 8-18: Autograph Letter Signed ("Martinus Luther") to His Friend the Theologian Gerhard Wiskamp ("Gerardo Xantho Lampadario"). $100,000 - $150,000.
Bonhams, Dec. 8-18: An Exceptionally Fine Copy of Austenís Emma: A Novel in Three Volumes. $40,000 - $60,000.
Bonhams, Dec. 8-18: Presentation Copy of Ernest Hemmingwayís A Farewell to Arms for Edward Titus of the Black Mankin Press. $30,000 - $50,000.
Bonhams, Dec. 8-18: Autograph Manuscript Signed Integrally for "The Songs of Pooh," by Alan Alexander. $30,000 - $50,000.
Bonhams, Dec. 8-18: Autograph Manuscript of "Three Fragments from Gˆtterd‰mmerung" by Richard Wagner. $30,000 - $50,000.
Bonhams, Dec. 8-18: Original Preliminary Artwork, for the First Edition of Snow Crash. $20,000 - $30,000.
Bonhams, Dec. 8-18: Autograph Letter Signed ("T.R. Malthus") to Economist Nassau Senior on Wealth, Labor and Adam Smith. $20,000 - $30,000.
Bonhams, Dec. 8-18: History of the Peloponnesian War by Thucydides Finely Bound by Michael Wilcox. $20,000 - $30,000.
Bonhams, Dec. 8-18: First Edition of Lewis and Clark: Travels to the Source of the Missouri River and Across the American Continent to the Pacific Ocean. $8,000 - $12,000.
Bonhams, Dec. 8-18: Original Artwork for the First Edition of Neal Stephenson's Groundbreaking Novel Snow Crash. $100,000 - $150,000.
Bonhams, Dec. 8-18: A Complete Set Signed Deluxe Editions of King's The Dark Tower Series by Stephen King. $8,000 - $12,000.
Bonhams, Dec. 8-18: Autograph Letter Signed ("John Adams") to James Le Ray de Chaumont During the Crucial Years of the Revolutionary War. $8,000 - $12,000.
Sotheby’s Book Week December 9-17, 2025
Sotheby’s, Dec. 17: Francesco Colonna. Hypnerotomachie, Paris, 1546, Parisian calf by Wotton Binder C for Marcus Fugger. €200,000 to €300,000.
Sotheby’s, Dec. 17: Nausea. De principiis dialectices Gorgias, and other works, Venice, 1523, morocco gilt for Cardinal Campeggio. €3,000 to €4,000.
Sotheby’s, Dec. 17: Billon. Le fort inexpugnable de l'honneur, Paris, 1555, Parisian calf gilt for Peter Ernst, Graf von Mansfeld. €120,000 to €180,000.
Sotheby’s Book Week December 9-17, 2025
Sotheby’s, Dec. 16: Salinger, J.D. The Graham Family archive, including autographed letters, an inscribed Catcher, a rare studio photograph of the author, and more. $120,000 to $180,000.
Sotheby’s, Dec. 16: [Austen, Jane]. A handsome first edition of Sense and Sensibility, the author's first novel. $60,000 to $80,000.
Sotheby’s, Dec. 16: Massachusetts General Court. A powerful precursor to the Declaration of Independence: "every Act of Government … without the Consent of the People, is … Tyranny." $40,000 to $60,000.
![<b>Heritage, Dec. 15:</b> John Donne. <i>Poems, By J. D. With Elegies on the Author's Death.</i> London: M[iles]. F[lesher]. for John Marriot, 1633.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/8caddaea-4c1f-47a7-9455-62f53af36e3f.jpg "<b>Heritage, Dec. 15:</b> John Donne. <i>Poems, By J. D. With Elegies on the Author's Death.</i> London: M[iles]. F[lesher]. for John Marriot, 1633.")
![<b>Sotheby’s, Dec. 16:</b> [Austen, Jane]. A handsome first edition of <i>Sense and Sensibility,</i> the author's first novel. $60,000 to $80,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/9a74d9ff-42dd-46a1-8bb2-b636c4cec796.png "<b>Sotheby’s, Dec. 16:</b> [Austen, Jane]. A handsome first edition of <i>Sense and Sensibility,</i> the author's first novel. $60,000 to $80,000.")
