Rare Book Monthly

Articles - May - 2005 Issue

Book Valuation Gets a Place at the Table

Money1

AE Current Value converts old prices into today's values


By Bruce McKinney

I've seen the future and can report it's exciting. Well, this isn't exactly Martin Luther King saying "I've seen the promised land" but it is part of the future of book valuation nevertheless and it is easy, fast and thought provoking. This month we introduce automated current pricing in the AED. For those who have wondered how or why a 1923 auction record is relevant to book valuation today I have only one word to say, HELLO.

For every book that makes the front page of the New York Times as "the long lost copy of ...." that is thought to be worth millions there are in fact millions of books that are interesting but whose values are much harder to understand. For all the books that don't make it to the front page of the Times there is now AE's Adjusted Current Valuation.

Wright Howes, the Chicago bookman, successfully created a flexible grading system 51 years ago and applied it to 10,520 titles in the Americana field in his book collector's guide: Howes' USiana. The beauty of his system was that his valuations were relative and so remained useful even as valuations changed. His book could not account for change in relative valuation but such changes became meaningful only over decades.

This month, in the AED, it now becomes possible to search for specific titles and editions and to select records that simply by selecting GET CURRENT ESTIMATE, immediately adjust all selected priced records to current value, and then average them for a composite current valuation, a generally better indicator of value than any single record. Then, if any records seem inappropriately high or low we provide links to each underlying record and the option to delete such records from the group. You can then recalculate composite value a second time.

This is not going to tell you what your book is precisely worth but it is going to give you a reasonable idea of its value. About 80% of all books will fall within 15% of the median prices. For books at both extremes the estimates will be less accurate but nevertheless helpful. Most people want to know if their book is valuable. This will tell you that.

Rare Book Monthly

  • <center><b>Potter & Potter Auctions<br>Nobu Shirase and the Japanese Antarctic Expedition: the Collection of Chet Ross<br>October 12, 2023</b>
    <b>Potter & Potter, Oct. 12:</b> [BYRD]. VEER, Willard Van der and Joseph T. RUCKER, cinematographers. The 35mm motion picture Akeley camera that filmed the Academy Award-winning documentary “With Byrd at the South Pole”. $30,000 to $50,000.
    <b>Potter & Potter, Oct. 12:</b> [SHIRASE, Nobu, his copy]. RYUKEI, Yano. <i>Young Politicians of Thebes: Illustrious Tales of Statesmanship.</i> Tokyo(?), 1881-84. $15,000 to $20,000.
    <b>Potter & Potter, Oct. 12:</b> SHACKLETON, Ernest H. <i>The Antarctic Book.</i> Winter Quarters 1907-1909 [dummy copy of the supplement to: <i>The Heart of the Antarctic</i>]. London, 1909. $10,000 to $15,000.
    <b>Potter & Potter, Oct. 12:</b> [USS BEAR]. The original auxiliary deck wheel from the famed USS Bear, 1874-1933. “PROBABLY THE MOST FAMOUS SHIP IN THE HISTORY OF THE COAST GUARD” (USCG). $10,000 to $15,000.
    <b>Potter & Potter, Oct. 12:</b> HENSON, Matthew. <i>A Negro Explorer at the North Pole.</i> With a forward by Robert Peary. Introduction by Booker T. Washington. New York, [1912]. $3,000 to $4,000.
  • <center><b>Swann Auction Galleries View Our Record Breaking Results</b>
    <b>Swann:</b> Charles Monroe Schulz, <i>The Peanuts gang,</i> complete set of 13 drawings, ink, 1971. Sold June 15 — $50,000.
    <b>Swann:</b> Charlotte Perkins Gilman, Family Archive of Photographs & Letters. Sold June 1 — $60,000.
    <b>Swann:</b> Victor H. Green, <i>The Negro Motorist Green Book,</i> New York, 1949. Sold March 30 — $50,000.
    <b>Swann:</b> William Shakespeare, <i>King Lear; Othello;</i> [and] <i>Anthony & Cleopatra;</i> Extracted from the First Folio, London, 1623. Sold May 4— $185,000.
    <center><b>Swann Auction Galleries View Our Record Breaking Results</b>
    <b>Swann:</b> William Samuel Schwartz, <i>A Bridge in Baraboo, Wisconsin,</i> oil on canvas, circa 1938. Sold February 16 — $32,500.
    <b>Swann:</b> Lena Scott Harris, <i>Group of approximately 65 hand-colored botanical studies, all apparently California native plants,</i> hand-colored silver prints, circa 1930s. Sold February 23 — $37,500.
    <b>Swann:</b> Suzanne Jackson, <i>Always Something To Look For,</i> acrylic & pencil on linen canvas, circa 1974. Sold April 6 — $87,500.
    <b>Swann:</b> Gustav Klimt, <i>Das Werk von Gustav Klimt,</i> complete with 50 printed collotype plates, Vienna & Leipzig, 1918. Sold June 15 — $68,750.
  • <b><center>Sotheby’s<br>Bibliotheca Brookeriana: A Renaissance Library<br>Magnificent Books and Bindings<br>11 October 2023</b>
    <b>Sotheby’s, Oct. 11:</b> Francesco Colonna, Hypnerotomachie, Paris, 1546, Parisian calf by Wotton Binder C for Marcus Fugger. $300,000 to $400,000.
    <b>Sotheby’s, Oct. 11:</b> Leonardo da Vinci, Trattato della pittura, manuscript on paper, [Rome, ca. 1638–1641], a very fine pre-publication manuscript. $250,000 to $300,000.
    <b>Sotheby’s, Oct. 11:</b> Paradis, Ung petit traicte de Alkimie, [Paris, before 1540], contemporary morocco by the Pecking Crow binder for Anne de Montmorency. $300,000 to $350,000.
    <b>Sotheby’s, Oct. 11:</b> Capocaccia, Giovanni Battista, A wax relief portrait of Pius V, in a red morocco book-form box by the Vatican bindery, Rome, 1566–1568. $250,000 to $300,000.
    <b>Sotheby’s, Oct. 11:</b> Serlio, Il terzo libro; Regole generali, Venice, 1540, both printed on blue paper and bound together by the Cupid's Bow Binder. $400,000 to $500,000.
    <b>Sotheby’s, Oct. 11:</b> Tiraboschi, Carmina, manuscript on vellum, [Padua, c. 1471], the earliest surviving plaquette binding. $280,000 to $350,000.
    <b><center>Sotheby’s<br>Bibliotheca Brookeriana: A Renaissance Library<br>The Aldine Collection A–C<br>12 October 2023</b>
    <b>Sotheby’s, Oct. 12:</b> Anthologia graeca, Venice, Aldus, 1503, printed on vellum, Masterman Sykes-Syston Park copy. $150,000 to $200,000.
    <b>Sotheby’s, Oct. 12:</b> Castiglione, Il libro del cortegiano, Venice, Aldus, 1528, contemporary Italian morocco gilt, Accolti-Landau copy. $200,000 to $300,000.
    <b>Sotheby’s, Oct. 12:</b> Castiglione, Il libro del cortegiano, Venice, Aldus, 1545, contemporary morocco for Thomas Mahieu, Chatsworth copy. $200,000 to $300,000.
    <b>Sotheby’s, Oct. 12:</b> Cicero, Epistolae familiares, Venice, Aldus, 1502, printed on vellum, illuminated, Renouard-Vernon-Uzielli copy. $200,000 to $300,000.
    <b>Sotheby’s, Oct. 12:</b> Colonna, Hypnerotomachia Poliphili, Venice, Aldus, 1499, Gomar Estienne binding for Jean Grolier, Spencer copy. $400,000 to $600,000.
    <b>Sotheby’s, Oct. 12:</b> Crinito, Libri de poetis Latinis, Florence, Giunta, 1505, Cupid's Bow Binder for Grolier, Paris d'Illins-Wodhull copy. $250,000 to $300,000.

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