Rare Book Monthly

Articles - March - 2016 Issue

Is Amazon Opening 300-400 Retail Bookstores?

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GGP offers a "retraction," sort of...

Is Amazon really going to open 300-400 bookstores? Isn't Amazon's success based on not having to pay the costs of physical stores, allowing them to undercut everyone else on price? Late last year, Amazon did open a bookstore in its home city of Seattle. No specific reasons were given, and it is probably too early for them to have reached long-range certainty as to its success. Is this rumor accurate or just another rumor?

 

Here is how it came about. The speculation started from an offhand remark by the CEO of a company that owns and manages real estate, shopping malls in particular. During the Q&A of a quarterly session with stock analysts, General Growth Properties CEO Sandeep Mathrani was talking about holiday mall traffic and how retail stores facilitate returns when he blurted this out: "...you've got Amazon opening bricks and mortar bookstores and their goal is to open as I understand 300 to 400 bookstores..." No one had ever heard such a number before. Amazon has one bookstore, and help wanted listings in the San Diego area imply they may be looking to open a second, but it is a long way from 2 to 300-400. Amazon has been tight-lipped in its plans, and such a comment from someone else might not have caused such a stir. However, Mr. Mathrani runs a company that leases space in shopping malls. Presumably, he knows more about retail plans than the rest of us. Where did he get his "understanding?"

 

After all the fuss he created, Mr. Mathrani quickly issued a retraction. Or did he? The company issued a press release the following day stating, "General Growth Properties, Inc. Chief Executive Officer Sandeep Mathrani has indicated that a statement he made concerning Amazon during GGP's earnings conference call held on February 2, 2016, was not intended to represent Amazon's plans." Note the wording. He did not say his statement did not represent Amazon's plans. Instead, he only said it was not intended to represent Amazon's plans. That is hardly a denial. Clearly, his intention was to convince stock analysts and investors that things are going well with the company's store leasing business. Amazon was simply an illustration to support that intention. This does not mean that Amazon is going to open stores or that his "understanding" is correct. It more sounds like Mr. Mathrani still expects Amazon to open a bunch of stores, but he is trying to walk back his public announcement of that expectation, which probably did not please the executives at Amazon who like to keep their plans private.

 

The question remains, if the rumor is true, why is Amazon doing this? Amazon totally rearranged the bookselling business, at least when it comes to new books, two decades ago when it began selling books online for discount prices. They would throw another wrench in that business when they pioneered sales of electronic books and readers. Their influence was not as great with older books, particularly collectible ones, as stocking items that may be one-of-a-kind, have a slow turnover rate, and can't be bought from the manufacturer, is not a model for a business that thrives on low margins and high volumes. However, they did begin selling books on behalf of independent dealers, and half a dozen years ago bought the largest cooperative bookselling site, AbeBooks.

 

Meantime, Amazon expanded from being the largest bookseller to being the largest online seller of practically every product known to man. So, perhaps the plan is to become the largest bricks and mortar retailer too. Who knows? Maybe they will destroy Walmart the way they destroyed many other retailers. The good news is, the nature of the collectible book trade makes it such that those in the rare book business will not be battered the way Barnes and Noble and Borders were. Rare books just aren't a high volume, mass market item. Meanwhile, it's nice to note a valuable lesson from Amazon's journey – if you are a bookseller, the sky's the limit!

Rare Book Monthly

  • <b>Swann Auction Galleries:</b> Abraham Lincoln, <i>Emancipation Proclamation by the President of the United States,</i> pamphlet, 1862. $10,000 to $15,000.
    <b>Swann Auction Galleries:</b> Family papers of the distinguished Ruby-Jackson family, Portland, Maine, 1853-1961. $3,000 to $4,000.
    <b>Swann Auction Galleries:</b> Family papers of the Confederate Vice President Alexander Stephens & the persons who served him, 1866-1907. $25,000 to $35,000.
    <b>Swann Auction Galleries:</b> Autograph book with inscriptions by orators Moses Roper & Peter Williams, 1821-54. $10,000 to $15,000.
    <b>Swann Auction Galleries:</b> Archive of letters, postcards, and greeting cards sent by Romare Bearden, 1949-87. $5,000 to $7,500.
    <b>Swann Auction Galleries:</b><br>E. Simms Campbell, <i>A Night-Club Map of Harlem,</i> in inaugural issue of Manhattan, 1933. $10,000 to $15,000.
    <b>Swann Auction Galleries:</b> Papers of the comedian Nipsey Russell, including a letter from MLK, 1929-2000. $6,000 to $9,000.
    <b>Swann Auction Galleries:</b> Early German-American anti-slavery broadside, <i>Sclaven-Handel,</i> Philadelphia, 1794. $12,000 to $18,000.
    <b>Swann Auction Galleries:</b> Edmonia Lewis, prominent sculptor, carte-de-visite by Henry Rocher, c. 1866-71. $3,000 to $4,000.
    <b>Swann Auction Galleries:</b><br><i>The Black Panther: Black Community News Service,</i> 44 issues, San Francisco, 1967-1971. $3,000 to $4,000.
    <b>Swann Auction Galleries:</b> Ernest Withers, <i>I Am A Man, Sanitation Workers Strike,</i> silver print, 1968. $5,000 to $7,500.
    <b>Swann Auction Galleries:</b> <i>March For Freedom Now!,</i> poster for the 1960 Republican Convention. $4,000 to $6,000.
  • <center><b>Chiswick Auctions<br>Books & Works on Paper<br>Including Autographs & Memorabilia<br>31 March 2020</b>
    <b>Chiswick Auctions, Mar. 31:</b> Rackham (Arthur). The Old Hag Standing Outside a Cottage, original drawing, signed by the artist, [c.1909]. £10,000 to £15,000.
    <b>Chiswick Auctions, Mar. 31:</b> Rowling (J.K.) <i>Harry Potter and the Philosopher's Stone,</i> FIRST EDITION, first printing, signed by the author, original pictorial wrappers, 1997. £4,000 to £6,000.
    <b>Chiswick Auctions, Mar. 31:</b> Castiglione (Giuseppe, after). Twelve plates from <i>Twenty views of the European Palaces of the Yuanming yuan,</i> 1783-1786. £4,000 to £6,000.
    <center><b>Chiswick Auctions<br>Books & Works on Paper<br>Including Autographs & Memorabilia<br>31 March 2020</b>
    <b>Chiswick Auctions, Mar. 31:</b> Spanish Antiphonal.- Antiphonal manuscript, [Spain], ca. 1650. £4,000 to £6,000.
    <b>Chiswick Auctions, Mar. 31:</b> Almanach de Gotha.- Almost complete run 1769 to 1945, 12mo & 8vo, Gotha, C.W. Ettinger [- Justus Perthes]. £4,000 to £6,000.
    <b>Chiswick Auctions, Mar. 31:</b> Bible, Greek.- New Testament [Greek], Novum Iesu Christi D.N. testamentum, ex bibliotheca regia, 2 parts in one, Robert Estienne, Paris, 1550. £2,000 to £3,000.
    <center><b>Chiswick Auctions<br>Books & Works on Paper<br>Including Autographs & Memorabilia<br>31 March 2020</b>
    <b>Chiswick Auctions, Mar. 31:</b> Lithgow (William). <i>The Total Discourse of the rare Adventures… from Scotland, to the most famous kingdoms in Europe, Asia, and Affrica…,</i> woodcut illustrations, 4to, I. Oakes, 1640. £2,000 to £3,000.
    <b>Chiswick Auctions, Mar. 31:</b> Spanish Interest.-16th -18th Century. Large collection of letters related to prominent members of the Spanish court and clergymen,; v.s., late 16th-mid 18th century. £1,800 to £2,200.
    <b>Chiswick Auctions, Mar. 31:</b> Darwin (Charles). <i>The Descent of Man, and Selection in Relation to Sex,</i> 2 vol., FIRST EDITION, first issue8vo, John Murray, 1871. £1,500 to £2,000.
    <center><b>Chiswick Auctions<br>Books & Works on Paper<br>Including Autographs & Memorabilia<br>31 March 2020</b>
    <b>Chiswick Auctions, Mar. 31:</b> Loewy (Raymond) ARR. Mickey Mouse, original gouache and air brush illustration of Mickey Mouse, signed by artist., n.p. [1946]. £1,500 to £2,000.
    <b>Chiswick Auctions, Mar. 31:</b> Potter (Beatrix) & Sendak (Maurice). <i>The Tale of Peter Rabbit,</i> NUMBER 2 OF 250 SIGNED COPIES, WITH AN ORIGINAL DRAWING BY SENDAK, New York, 1995. £1,500 to £2,000.
    <b>Chiswick Auctions, Mar. 31:</b> Wolstenholm (Jonathan) ARR. Books on Books, original watercolor, signed and dated by the artist, 2005.
  • <center><b>Arader Galleries<br>April Auction<br>April 4, 2020</b>
    <b>Arader Galleries, Apr. 4:</b> MITCHELL, John (1711-1768). A Map of the British and French Dominions in North America. Copperplate engraving with original hand color. London, 1755. $250,000 to $350,000.
    <b>Arader Galleries, Apr. 4:</b> AUDUBON, John James (1785 - 1851). Brown Pelican (Standing), Plate 251. Aquatint engraving with original hand color. London, 1827-1838. $175,000 to $225,000.
    <b>Arader Galleries, Apr. 4:</b> AUDUBON, John James (1785 - 1851). Fish Hawk or Osprey, Plate 81. Aquatint engraving with original hand color. London: 1827-1838. $100,000 to $150,000.
    <center><b>Arader Galleries<br>April Auction<br>April 4, 2020</b>
    <b>Arader Galleries, Apr. 4:</b> GONZALES DE MENDOZA, Juan (1545 - 1618). <i>The Historie of the great and mightie kingdome of China…</i> London, 1588. $100,000 to $150,000.
    <b>Arader Galleries, Apr. 4:</b> VERBIEST, Ferdinand (1623-1688). [World Map] Kun-Yu Ch'uan-Tu. Engraved twelve sheet map with vertical sections joined to form six sheets. Korea, Seoul, c. 1860. $100,000 to $150,000.
    <b>Arader Galleries, Apr. 4:</b> SANGGI, Chong (1678-1752). Korean Atlas. Manuscript map on mulberry bark paper. C. 1750-1790. $100,000 to $150,000.
    <center><b>Arader Galleries<br>April Auction<br>April 4, 2020</b>
    <b>Arader Galleries, Apr. 4:</b> AUDUBON, John James (1785 - 1851). Ivory-billed Woodpecker, Plate 66. Aquatint engraving with original hand color. London, 1827-1838. $80,000 to $120,000.
    <b>Arader Galleries, Apr. 4:</b> AKERMAN, Anders (1721-1778). & AKREL, Frederik (1779-1868). Pair of Celestial and Terrestrial Globes. Stockholm, c. 1800. 23 inch diameter, each. $60,000 to $100,000.
    <b>Arader Galleries, Apr. 4:</b> BENNETT, Lieut. William Pyt (d. in action, 1916). AN IMPORTANT AND APPARENTLY UNPUBLISHED SERIES OF GELATIN SILVER PHOTOGRAPHS OF LHASA AND TIBET TAKEN DURING THE CELEBRATED YOUNGHUSBAND MISSION OF 1904. $60,000 to $80,000

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