• <center><b>Sotheby’s<br>English Literature, History, Science,<br>Children’s Books and Illustrations<br>1 – 8 December, 2020</b>
    <b>Sotheby’s, 1-8 Dec.:</b> JAMES OF MILAN | <i>Pricking of love,</i> illuminated manuscript in Middle English [England, fifteenth century]. £60,000 to £80,000.
    <b>Sotheby’s, 1-8 Dec.:</b> BEARDSLEY | <i>The Toilet of Helen,</i> original ink drawing for Savoy, 1895. £30,000 to £50,000.
    <b>Sotheby’s, 1-8 Dec.:</b> DICKENS | <i>A Christmas Carol,</i> 1844, seventh edition, presentation copy inscribed by the author. £20,000 to £30,000.
    <center><b>Sotheby’s<br>English Literature, History, Science,<br>Children’s Books and Illustrations<br>1 – 8 December, 2020</b>
    <b>Sotheby’s, 1-8 Dec.:</b> DARWIN | <i>For Private Distribution... Extracts from Letters addressed to Professor Henslow...,</i> 1835, original wrappers. £70,000 to £90,000.
    <b>Sotheby’s, 1-8 Dec.:</b> DEFOE | Autograph manuscript poem, 'Resignation', 1708. £20,000 to £30,000.
    <b>Sotheby’s, 1-8 Dec.:</b> GRAHAME | <i>The Wind in the Willows,</i> 1908, first edition, dust-jacket. £12,000 to £16,000.
  • <center><b>Sotheby’s<br>Livres et Manuscrits<br>7 – 15 December, 2020</b>
    <b>Sotheby’s, 7 – 15 Dec.:</b> [RELIURE BRODÉE]. <i>Horae beatissimae...</i> Anvers, 1570. Reliure brodée de la Renaissance aux armes du duc d'Anjou. €50,000 to €70,000.
    <b>Sotheby’s, 7 – 15 Dec.:</b> ARTOIS, comte d', futur Charles X. 75 lettres autographes au comte de Vaudreuil entre 1792 et 1804. €15,000 to €20,000.
    <b>Sotheby’s, 7 – 15 Dec.:</b> [Pascal, Blaise]. <i>Lettres de A. Dettonville ...</i> Paris, 1658-1659. Rarissime édition originale en reliure de l'époque. €30,000 to €50,000.
    <center><b>Sotheby’s<br>Livres et Manuscrits<br>7 – 15 December, 2020</b>
    <b>Sotheby’s, 7 – 15 Dec.:</b> Aragon, Louis. Ens. de 8 ouvrages avec envois à Jacques Lacan, dont "Blanche et l'oubli", 1967, sur grand papier. €2,000 to €3,000.
    <b>Sotheby’s, 7 – 15 Dec.:</b> Fermat, Pierre de. <i>Varia opera mathematica.</i> Toulouse,1679. Petit in-folio. Edition originale. De la bibliothèque de Jacques Lacan. €6,000 to €8,000.
    <b>Sotheby’s, 7 – 15 Dec.:</b> Leduc, Violette. <i>La Bâtarde.</i> 1958-1963. Important manuscrit autographe, premier jet. 20 cahiers, env 2048 p. ms. €40,000 to €60,000.
  • <center><b>Arader Galleries<br>December Sale<br>December 5, 2020</b>
    <b>Arader Galleries, Dec. 5:</b> SHERBURNE, BRANTZ, and WIRGMAN. The Original Drawings of the First Modern Scientific Survey of the Patapsco River and Chesapeake Bay. $350,000 to $500,000.
    <b>Arader Galleries, Dec. 5:</b> LAFON, Barthelemy. The Earliest Comprehensive Survey of Louisiana and its Adjacent Regions. $350,000 to $450,000.
    <b>Arader Galleries, Dec. 5:</b> Giacomo GASTALDI. The Most Important Renaissance Wall Map of Asia Published in the 16th Century – with all four sheets having full margins. $300,000 to $400,000.
    <center><b>Arader Galleries<br>December Sale<br>December 5, 2020</b>
    <b>Arader Galleries, Dec. 5:</b> CAO, Junyi. The Most Important Map of China to Come to Market in 50 Years. One of only three known copies of the last Ming Dynasty world map. $325,000 to $375,000.
    <b>Arader Galleries, Dec. 5:</b> ORTELIUS, Abraham. Ortelius Atlas Spanish 1588 Magnificently Rich Original Hand Color in Full. $225,000 to $350,000.
    <b>Arader Galleries, Dec. 5:</b> An Exceptionally Fine and Historically Important Manuscript Map Showing the Origins of Texas in the 19th Century. $250,000 to $350,000.
    <center><b>Arader Galleries<br>December Sale<br>December 5, 2020</b>
    <b>Arader Galleries, Dec. 5:</b> PRICE, William and BONNER, John. Map of Boston 1769. $225,000 to $325,000.
    <b>Arader Galleries, Dec. 5:</b> John James AUDUBON. Audubon’s Brilliant Icon, That Has Never Been Equaled for Drama. $150,000 to $250,000.
    <b>Arader Galleries, Dec. 5:</b> Pierre-Joseph REDOUTE. Original Watercolor, Red Lily. $175,000 to $250,000.
    <center><b>Arader Galleries<br>December Sale<br>December 5, 2020</b>
    <b>Arader Galleries, Dec. 5:</b> John James AUDUBON. The Most Famous Image of a Bird in All of History. $150,000 to $200,000.
    <b>Arader Galleries, Dec. 5:</b> Martin WALDSEEMULLER. The Finest Example in Existence of Martin Waldseemuller’s Map of the New World, with Spectacular Full Original Color. $150,000 to $200,000.
    <b>Arader Galleries, Dec. 5:</b> GORDON, Peter. The First State of the First View of Savannah: The Template for American Urban Planning. $100,000 to $150,000.

Rare Book Monthly

Articles - July - 2017 Issue

A $2 Million Theft? Maybe Not

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How one estimates the value of rare, even unique works is always a challenge. The correct formula is to determine the market price agreed upon by a willing buyer and willing seller, but the rarer the item, the harder that can be to determine. In the case of books, some are extremely rare, occasionally the only known copy. With manuscripts and ephemeral items, there often is only one of its kind.

 

If there is but one of a kind, there are generally two methods employed in valuing it. In the first, a skilled appraiser will search for known prices on comparable items, such as a similar document from the same person, or another person of comparable notoriety. Then there is the other method, whereby the estimator pulls some number out of thin air (or someplace else), often what the owner in his wildest dreams would like to obtain. If you have ever searched the listing sites or eBay, you will undoubtedly find some examples of each, even a few where the unknowing owner grossly underestimates the value (you won't see this as often as they don't last long).

 

This takes us to one of the more amusing cases we have seen lately, where the item was a piece of original art, but the principles are the same. The Abilene (Texas) Police Department recently issued the following report:

 

"A 60 year old Lubbock man who was passing through Abilene on his way to the Metroplex [i.e. Dallas-Forth Worth] alleges someone came into his motel room over the weekend and stole over $2 mil. in paintings, some clothing and a map. Ricky Denzler had rented a room at a motel located at 3417 South 1st in order to visit family. At some point over the weekend Denzler says someone came into his room and stole the 5 paintings, the clothing and a map.

 

"Denzler says he is the artist of the paintings and estimated their value at over $2 million dollars. Denzler did not provide any proof of the paintings. The Abilene Police Department is working this incident as a Burglary of a Habitation. The investigation continues."

 

There were five paintings, four of which Denzler estimated at $2,000, $2,500, $16,000 and $24,000. The fifth he estimated at over $2 million. It appears he used the latter of the two previous methods of estimating value mentioned earlier. Denzler is not a well-known artist. The only matches to his paintings that can be found in an internet search are those referring to this alleged theft. He is, perhaps, the next Michelangelo, but it does not appear that anyone else has recognized that yet. Only Mr. Denzler, who provided the police with the valuations, has so concluded as of this time. It is very unlikely he sought the advice of a licensed appraiser in reaching his estimates.

 

A few other details added to the suspicions. Mr. Denzler was staying in an older, inexpensive motel in a neighborhood of comparables. One usually doesn't leave a $2 million painting alone in the room of such a place. Press reports added further suspicion as the motel manager voiced suspicion based on the appearance of some of the people visiting Mr. Denzler. Abilene police later reported that they had received calls from Interpol and London when reports got out that a $2 million painting had been stolen in Abilene. Abilene police assured them that these were not the paintings they were seeking. They also indicated it was likely that they would close the case.

 

The message here is that for buyers and sellers, it is important to ascertain as closely as possible actual market valuations of collectibles. For buyers, it is imperative if one hopes to be able to sell the item at a future date without incurring a serious loss. For sellers, it is important if one hopes to actually sell their wares. Mr. Denzler may value his painting at $2 million, but he will never sell it until he determines what the fair market value is for his work. Safe to say, he needs to dramatically sharpen his paintbrush.

 

For lower priced items, listing sites such as AbeBooks, Biblio, and Amazon can provide some guidance, though these are only asking prices, not selling prices, and it is not clear how these asking prices are determined. One should look to the lower prices asked for guidance unless there is a discernible difference between those and the ones that are priced higher (condition, etc.). For more valuable books and works on paper, one should look for actual sales records, such as those available through the Rare Book Transaction History (subscription available on this website) or from a recognized appraiser. It is worth getting the numbers right.

Rare Book Monthly

  • <center><b>Fonsie Mealy Auctioneers<br>Christmas Rare Books<br>& Collectors’ Sale<br>9 & 10 December 2020</b>
    <b>Fonsie Mealy, Dec. 9:</b> Joyce (James), <i>Ulysses,</i> 4to, Paris: (Shakespeare & Co.) 1922, First Edn. €7,000 to €9,000.
    <b>Fonsie Mealy, Dec. 9:</b> Of the Utmost Rarity with Swift Association. Harward (Michael). <i>Philomath. A New Almanack for the Year of Our Lord,</i> 1666. €6,000 to €9,000.
    <b>Fonsie Mealy, Dec. 9:</b> With Full Complement of Hand Coloured & Other Plates. Rosellini (Ippolito). <i>Monumenti dell Egitto e della Nubia,</i> Vols. I, II, & III Plate Volumes only. €5,000 to €7,000.
    <center><b>Fonsie Mealy Auctioneers<br>Christmas Rare Books<br>& Collectors’ Sale<br>9 & 10 December 2020</b>
    <b>Fonsie Mealy, Dec. 9:</b> With Magnificent Hand Coloured Plates. [Bivort, Debabay, & others] <i>Annales de Pomologie,</i> 8 vols., folio, Brussels, 1853-1861. €4,000 to €6,000.
    <b>Fonsie Mealy, Dec. 9:</b> With Very Fine Coloured Plates & Illustrations. Barbier (George) Vogel (Lucien) & others, <i>Gazette du Bon Ton - Arts-modes et frivolities, </i> 1914 to 1922. €4,000 to €6,000.
    <b>Fonsie Mealy, Dec. 9:</b> “I have seen War... I hate War," Signed Presentation Copy to William C. Bullitt, Roosevelt (Franklin D.) August 14, 1936. €3,000 to €4,000.
    <center><b>Fonsie Mealy Auctioneers<br>Christmas Rare Books<br>& Collectors’ Sale<br>9 & 10 December 2020</b>
    <b>Fonsie Mealy, Dec. 9:</b> Victorian Hostess & Horticulturist. An Important Collection Relating to Lady Dorothy Nevill (1826-1913). €2,500 to €3,200.
    <b>Fonsie Mealy, Dec. 9:</b> Fine Original Portrait Photos of The O'Brien Ladies by Margaret Cameron. Two black and white Photos, each 8" x 10". €1,200 to €1,800.
    <b>Fonsie Mealy, Dec. 9:</b> James Hume Nesbitt Illustrations: A collection of twelve pen and ink Drawings and Etchings intended for publication as book of illustrations for his thriller novels. €800 to €1,200.
    <center><b>Fonsie Mealy Auctioneers<br>Christmas Rare Books<br>& Collectors’ Sale<br>9 & 10 December 2020</b>
    <b>Fonsie Mealy, Dec. 9:</b> Attributed to Kitagawa Utamavo (1753-1806). A pair of attractive colourful woodblock prints, of Court Ladies in decorative robes with numerous stamps and script. €800 to €1,000.
    <b>Fonsie Mealy, Dec. 9:</b> Contemporaneous Notes from Captain Cook's Voyage Travel: [Anon] <i>Voyage to the South Sea by Mr. Banks, Mr. Parkinson and Dr. Solender, with Capt. Cooke,</i> a 7 page m/ss document. €700 to €1,000.
    <b>Fonsie Mealy, Dec. 9:</b> Very Rare First U.K. Edition with Yellow Paper Band. Herbert (Frank). <i>Dune,</i> 8vo London (Victor Gollancz Ltd.) 1966. €500 to €700.
  • <b>Swann Auction Galleries Dec 17:</b> Bernardus Sylvanus, one of the earliest printed maps of the New World, woodcut, Venice, 1511. $20,000 to $30,000.
    <b>Swann Auction Galleries Dec 17:</b> Johannes Blaeu, <i>Nova et Accuratissima Totius Terrarum Orbis Tabula,</i> Amsterdam, 1662. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 17:</b> Emanuel Bowen & John Gibson, <i>Atlas Minimus,</i> miniature atlas, London, 1758. $2,500 to $3,500.
    <b>Swann Auction Galleries Dec 17:</b> Henry Andrews, <i>The Botanist's Repository for New & Rare Plants,</i> London, 1797-1815. $3,000 to $5,000.
    <b>Swann Auction Galleries Dec 17:</b> John James Audubon, <i>Night Heron or Qua Bird, Plate CCXXXVI,</i> hand-colored aquatint, 1835. $25,000 to $35,000.
    <b>Swann Auction Galleries Dec 17:</b> Basilius Besler, group of 30 folio engravings, <i>Hortus Eystettensis,</i> Eichstatt, 1613. $7,000 to $10,000.
    <b>Swann Auction Galleries Dec 17:</b> Henri Chatelain, <i>Carte Tres Curieuse de la Mer du Sud...,</i> Amsterdam, 1719. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 17:</b> Arnoldus Montanus, <i>Die Unbekante Neue Welt...,</i> German text edition, Amsterdam, 1673. $4,000 to $6,000.
  • <b>ANZAAB Joint Catalogue:</b> BULLER, Walter Lawry. <i>A HISTORY OF THE BIRDS OF NEW ZEALAND.</i> London, Van Voorst, 1873. Special De-Luxe edition of this already rare work.
    <b>ANZAAB Joint Catalogue:</b> GIBBS, May. <i>Gum-Nut Babies.</i> Sydney: Angus and Robertson, Ca. 1918.
    <b>ANZAAB Joint Catalogue:</b> SWIFT, Jonathan. <i>TRAVELS INTO SEVERAL REMOTE NATIONS OF THE WORLD.</i> London: Printed for Benj.Motte. 1727.
    <b>ANZAAB Joint Catalogue:</b> JUKES, Joseph Beete. <i>NARRATIVE OF THE SURVEYING VOYAGE OF H.M.S. FLY…</i> London: T. & W. Boone, 1847. First Edition.
    <b>ANZAAB Joint Catalogue:</b> <i>SOMERVILLE, E OE. IN THE VINE COUNTRY.</i> London: W H Allen & Co Limited, 1893.
    <b>ANZAAB Joint Catalogue:</b> MAWE, John. <i>The voyager’s companion, or shell collector’s pilot.</i> London : 1825. Rare.
    <b>ANZAAB Joint Catalogue:</b> PARKINSON, John. <i>Theatrum Botanicum, The Theater of Plants…</i> London, Thomas Cotes, 1640.
    <b>ANZAAB Joint Catalogue:</b> c. 1150 decorated MONASTIC MISSAL LEAF, Southern Germany/Austria.
    <b>ANZAAB Joint Catalogue:</b> LEGGE, Captain W. Vincent. <i>A HISTORY OF THE BIRDS OF CEYLON.</i> London, The Author, 1880.
    <b>ANZAAB Joint Catalogue:</b> AUNT HANNAH. <i>SOME ADVENTURES IN THE LIFE OF A COCKATOO.</i> Published in New York by R. Shugg and Co., 1872.

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