• <center><b>Dominic Winter Auctioneers<br>26 January 2022<br>Printed Books & Maps,<br>The Sinclair Hood Library of Archaeology,<br>The Charles Tomlinson Poetry Library</b>
    <b>Dominic Winter, Jan. 26:</b> Biggs (Thomas, Hope, Theodore C & Fergusson, James). <i>Architecture at Ahmedabad, The Capital of Goozerat,</i> 1st edition, London: John Murray, 1866. £3,000 to £5,000.
    <b>Dominic Winter, Jan. 26:</b> Daniell (Thomas and William). <i>Oriental Scenery. One Hundred and Fifty Views of the Architecture, Antiquities and Landscape Scenery of Hindoostan,</i> 6 parts, 1812-16. £2,000 to £3,000.
    <b>Dominic Winter, Jan. 26:</b> Hamilton (Sir William & Pierre Francois Hugues d'Hancarville). Collection of Etruscan, Greek and Roman Antiquities from the Cabinet of the Hon.ble Wm Hamilton, volumes I & II only (of 4), Naples, 1766-67. £7,000 to £10,000.
    <center><b>Dominic Winter Auctioneers<br>26 January 2022<br>Printed Books & Maps,<br>The Sinclair Hood Library of Archaeology,<br>The Charles Tomlinson Poetry Library</b>
    <b>Dominic Winter, Jan. 26:</b> Moore (Lieutenant Joseph & Captain Frederick Marryat). Eighteen Views taken at & near Rangoon, [1825]. £2,000 to £3,000.
    <b>Dominic Winter, Jan. 26:</b> Williamson (Captain Thomas & Howitt, Samuel). <i>Oriental Field Sports; Being a Complete, Detailed and Accurate Description of the Wild Sports of the East;</i> 1st edition, London, 1807. £5,000 to £8,000.
    <b>Dominic Winter, Jan. 26:</b> Knoop (Johann Hermann). <i>Pomologia, dat is Beschryvingen en Afbeeldingen van de beste zoorten van Appels en Peeren, Fructologia …,</i> 3 volumes in 1, Leeuwarden: A Ferwerda and G. Tresling, [1758]. £1,000 to £1,500.
    <center><b>Dominic Winter Auctioneers<br>26 January 2022<br>Printed Books & Maps,<br>The Sinclair Hood Library of Archaeology,<br>The Charles Tomlinson Poetry Library</b>
    <b>Dominic Winter, Jan. 26:</b> North America. Wyld (James), Map of the Colony of British Columbia and the British & American Territory West of the Rocky Mountains, Including Vancouvers Island and the Gold Fields, 1858. £1,500 to £2,000.
    <b>Dominic Winter, Jan. 26:</b> Pocket Globe. A Correct Globe with the New Discoveries, circa 1785. £2,000 to £3,000.
    <b>Dominic Winter, Jan. 26:</b> Wales. Morden (Robert), Twelve 'playing card maps' of Wales, circa 1676. £1,000 to £1,500.
    <center><b>Dominic Winter Auctioneers<br>26 January 2022<br>Printed Books & Maps,<br>The Sinclair Hood Library of Archaeology,<br>The Charles Tomlinson Poetry Library</b>
    <b>Dominic Winter, Jan. 26:</b> Society of Dilettanti. <i>Antiquities of Ionia,</i> 5 volumes: 1821, 1797, 1840, 1881 & 1915. £3,000 to £5,000.
    <b>Dominic Winter, Jan. 26:</b> Churchill (Winston Spencer). <i>The People's Rights,</i> 1st edition, 1st issue, London: Hodder & Stoughton, [1910]. £1,000 to £1,500.
    <b>Dominic Winter, Jan. 26:</b> Paz (Octavio). <i>Blanco,</i> 1st edition, limited numbered edition, Mexico: Joaquín Mortiz, 1967. £500 to £800.
  • <center><b>Case Antiques<br>Two-Day Winter Fine Art, Antique, and Jewelry Auction<br>January 29 & 30, 2022</b>
    <b>Case Antiques, Jan. 29-30:</b> Civil War Archive, including Hospital CDVs. $2,400 to $2,800.
    <b>Case Antiques, Jan. 29-30:</b> W.B. Gosnell's Civil War Era 34 Star Flag w/ Book on Western Expansion. $1,200 to $1,400.
    <b>Case Antiques, Jan. 29-30:</b> 15 Star Parade Flag and Envelope, Framed. $800 to $900.
    <center><b>Case Antiques<br>Two-Day Winter Fine Art, Antique, and Jewelry Auction<br>January 29 & 30, 2022</b>
    <b>Case Antiques, Jan. 29-30:</b> Partial Civil War Album, incl. Confederate Leaders. $800 to $900.
    <b>Case Antiques, Jan. 29-30:</b> CDV Album incl. Garfield, plus Framed CSA Currency. $800 to $900.
    <b>Case Antiques, Jan. 29-30:</b> Two Geronimo Cabinet Cards, incl. St. Louis World's Fair Signed. $2,800 to $3,200.
    <center><b>Case Antiques<br>Two-Day Winter Fine Art, Antique, and Jewelry Auction<br>January 29 & 30, 2022</b>
    <b>Case Antiques, Jan. 29-30:</b> Dickens, Charles. <i>A Christmas Carol,</i> 1st Ed. 1843. $1,800 to $2,000.
    <b>Case Antiques, Jan. 29-30:</b> Archive of Col. John Fite, CSA, POW Johnson's Island, first of two lots, 8 Items. $1,200 to $1,400.
    <b>Case Antiques, Jan. 29-30:</b> Kentucky Confederate Call to Arms Broadside, 1862. $1,200 to $1,400.
    <center><b>Case Antiques<br>Two-Day Winter Fine Art, Antique, and Jewelry Auction<br>January 29 & 30, 2022</b>
    <b>Case Antiques, Jan. 29-30:</b> Hemingway, Ernest. <i>For Whom the Bell Tolls,</i> 1st Ed. $1,000 to $1,200.
    <b>Case Antiques, Jan. 29-30:</b> Autograph Album with Confederate Signatures, incl. Jeff Davis. $800 to $1,000.
    <b>Case Antiques, Jan. 29-30:</b> WWI Navy Posters plus Photo of USS John Hood, 3 pcs. $700 to $750.
  • <center><b>Sotheby’s<br> Fine Books and Manuscripts, Including Americana<br>Online<br>Now through January 25, 2022</b>
    <b>Sotheby’s, Now to Jan. 25:</b> Audubon, John James. The "Wild Turkey" manuscript — capturing one of the nation's most iconic symbols of unity. $250,000 to $350,000.
    <b>Sotheby’s, Now to Jan. 25:</b> (Flag) — Commemorative Thirteen-Star Flag. Pre-Civil War, Thirteen-Star Flag of the United States, from the collection of Charles Kuralt. $15,000 to $25,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Fitzgerald, F. Scott. <i>Tender is the Night</i>. First edition, presentation copy, and a former mystery. $30,000 to $50,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Audubon, John James. The "Wild Turkey" manuscript — capturing one of the nation's most iconic symbols of unity. $250,000 to $350,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Salinger, J.D. <i>The Catcher in the Rye.</i> A strikingly fresh first edition of Salinger's essential novel. $20,000 to $25,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Whitman, Walt. <i>Leaves of Grass.</i> “America's second Declaration of Independence” — signed by Whitman. $150,000 to $200,000.
    <b>Sotheby’s, Now to Jan. 25:</b> [Dylan, Bob]. Some of the earliest known professional portraits. $10,000 to $15,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Y-Worth [Yarworth], William. <i>Cerevisiarii Comes: Or, the New and True Art of Brewing…</i> A rare and early English work on the art of brewing. $5,000 to $7,000.
  • <b>Bonhams, Jan. 19 – 27:</b> RUTH BADER GINSBERG’S PERSONAL COPY OF THE 1957-58 HARVARD LAW REVIEW, HEAVILY ANNOTATED BY HER.
    <b>Bonhams, Jan. 19 – 27:</b> RUTH BADER GINSBURG’S TEXTBOOK FOR HER “CIVIL PROCEDURE” CLASS AT HARVARD, HEAVILY ANNOTATED BY HER.
    <b>Bonhams, Jan. 19 – 27:</b> RUTH BADER GINSBURG’S TEXTBOOK FOR COLUMBIA LAW SCHOOL CLASS ON JURISPRUDENCE, HEAVILY ANNOTATED BY HER.
    <b>Bonhams, Jan. 19 – 27:</b> HONORARY DOCTORATE AWARDED TO RUTH BADER GINSBURG BY SMITH COLLEGE, 1994.
    <b>Bonhams, Jan. 19 – 27:</b> A COPY OF JUSTICE GINSBURG’S ARTICLE, “WOMEN IN THE FEDERAL JUDICIARY,” SIGNED AND INSCRIBED BY THE JUSTICE TO SENATOR NANCY KASSEBAUM.
    <b>Bonhams, Jan. 19 – 27:</b> A COPY OF SANDRA DAY O’CONNOR’S ARTICLE, “THEY OFTEN ARE HALF-OBSCURE: THE RIGHTS OF THE INDIVIDUAL AND THE LEGACY OF OLIVER WENDELL HOLMES,” PRESENTED TO RUTH BADER GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> A DELUXE EDITION OF ANTONIN SCALIA’S MAKING YOUR CASE: THE ART OF PERSUADING JUDGES, FROM AN EDITION OF 2000, SIGNED AND INSCRIBED TO RUTH BADER GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> A FIRST EDITION OF SONIA SOTOMAYOR’S <i>MY BELOVED WORLD,</i> SIGNED AND INSCRIBED TO RUTH BADER GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> A FIRST EDITION OF AL GORE’S “THE ASSAULT ON REASON,” SIGNED AND INSCRIBED TO RUTH BADER GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> <i>BELOVED</i> BY TONI MORRISON, SIGNED AND INSCRIBED BY THE AUTHOR TO RUTH AND MARTIN GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> A FIRST EDITION OF GLORIA STEINEM’S “MY LIFE ON THE ROAD,” SIGNED AND INSCRIBED TO RUTH BADER GINSBURG.

Rare Book Monthly

Articles - April - 2015 Issue

Operator of Massive Manuscript Business, Claimed Ponzi Scheme, Arrested

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Aristophil website, since closed down.

The owner of an incredible manuscript business has been arrested in France, following the shuttering of his business earlier amid claims that it was a Pyramid (Ponzi) Scheme. The name “Madoff” has been bandied about frequently by the press in connection with the case. The business' operator, Gérard Lhéritier, has vehemently denied the charges.

 

Lhéritier's business, Aristophil, has amassed a manuscript collection almost beyond comprehension. It is claimed to contain around 135,000 manuscripts, housed in storage and in museums in France and Belgium (now closed). It included the will of King Louis XVI, written just before his unsuccessful attempt to flee Paris, André Breton's surrealist manifesto, a large collection of Charles de Gaulle's wartime telegraph drafts, Napoleon's marriage certificate, Albert Einstein's writings while working on the Theory of Relativity. Other names contained in this massive collection include Voltaire, Goethe, Descartes, Tolstoy, Zola, Verne, Mozart, Beethoven, Newton, Pasteur, Edison, Eiffel, seven more French kings besides Louis XVI, Gandhi, Churchill, Franklin Roosevelt, and many, many more. Recently, the firm had purchased the Marquis de Sade's 120 Days of Sodom, the manuscript written while he was imprisoned in the Bastille, for €7 million (pushing US $10 million at the time).

 

The issue was how Lhéritier was financing his purchases. He sold interests in pools of manuscripts to investors. With the use of their money, he would buy at auction, from dealers, or privately. The problem was compounded by his buying at high prices. Some appraisers believed he was way overpaying. However, in so doing, and buying so much, he drove the prices up. This created the appearance of sharply rising prices and values in the field, which reassured investors of the wisdom of their investments and encouraged newcomers to join the party.

 

It has been alleged that Lhéritier promised investors an annual return of at least 8% for a five-year investment. Lhéritier has denied this, and apparently it was not in writing, but at least some investors evidently believed the return was guaranteed. When an investor wanted out, their shares would be repurchased at a healthy gain, again encouraging others to invest. Of course, this is also a basic attribute of a Ponzi scheme.

 

Lhéritier opened Aristophil in 1990, but it was not until the beginning of the new century that the business began to grow into a manuscript behemoth. It then expanded from a few hundred to many thousands of investors and opened its manuscript museums. The current collection was estimated to be worth something in the €500-800 million range, which at the top end could be approaching almost $1 billion. However, this may be a largely inflated value, based on Lhéritier's purchases or estimates. It does appear that cash investments made in the business are in the $1 billion range.

 

In November, a large contingent of officers from France's anti-fraud squad raided the company's headquarters, along with offices in Brussels and Luxembourg, the Paris and Brussels museums, Lhéritier's home, his accountant, several investment advisors, and the office of a bookseller who sold Lhéritier many manuscripts. The business and its assets were all seized, forcing it to close down. Lhéritier objected that he was being forced into bankruptcy without a trial, but the anti-fraud investigators evidently felt the case was such that they needed to act decisively to protect the investors' interests. Aristophil's employees, around 65, were laid off. The firm's website was also shut down.

 

In early March, the long-delayed but inevitable other shoe dropped. Gérard Lhéritier was indicted on suspicion of fraud. His daughter, who managed the collections, and a couple of others were indicted too. The claim is essentially based on what investigators believe is a huge difference in the value of the firm's assets and its declared value. Not surprisingly, investors are upset, some having invested large portions of their savings with Aristophil. If it turns out the assets are worth just a fraction of their declared value, their losses will be substantial, for many life-changing. Even if estimates weren't grossly exaggerated (and the state believes they were), prices were driven up by Aristophil's buying. Selling this material without Lhéritier setting the market is likely to result in significantly reduced prices. Add to that trying to sell these manuscripts in volume and the nature of the mess becomes painfully obvious.

Rare Book Monthly

  • <b>Il Ponte Casa d’Aste, Jan. 25:</b> DANTE ALIGHIERI (1265-1321). <i>Commedia.</i> Venezia: Vindelino da Spira, 1477. Estimate: € 40.000 - 60.000.
    <b>Il Ponte Casa d’Aste, Jan. 25:</b> DALI, Salvador (1908-1989) - William SHAKESPEARE (1564-1616). <i>Romeo e Giulietta.</i> Milan: Rizzoli, 1975. Estimate: € 25.000 - 35.000.
    <b>Il Ponte Casa d’Aste, Jan. 25:</b> MALVASIA, Cornelio; MONTANARI, Geminiano. <i>Ephemerides novissimae motuum coelestium.</i> Modena: Cassiani, 1662. Estimate: € 8.000 - 12.000.
    <b>Il Ponte Casa d’Aste, Jan. 25:</b> JANSSONIUS, Johannes. <i>Atlantis majoris quinta pars, Orbem maritimum [Novus Atlas, volume V: carte marittime].</i> Amsterdam: Janssonius, 1650. Estimate: € 12.000 - 18.000.
  • <center><b>Swann Auction Galleries<br>A Record Breaking Season</b>
    <b>Swann:</b> <i>The Book of Mormon,</b> first edition, Palmyra, NY, 1830. Sold Sept. 30 — $112,500.
    <b>Swann:</b> Vincent Van Gogh, <i>Homme à la Pipe: Portrait du Docteur Gachet, Evening,</i> etching, 1890. Sold Nov. 2 — $161,000.
    <b>Swann:</b> Edward Ruscha, <i>Stains,</i> title page, one of 70, signed, 1969. Sold Nov. 9 — $112,500.
    <b>Swann:</b> John James Audubon, <i>Carolina Parrot, Plate 26,</i> hand colored aquatint, 1828. Sold Dec.9 — $137,000.
    <b>Swann:</b> Edmund Dulac, <i>The Snow Queen,</i> watercolor, gouache, pen & ink, 1910. Sold Dec. 16 — $125,000.

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