• <b><center>University Archives<br>Rare Manuscripts, Books & Sports Memorabilia<br>February 1, 2023</b>
    <b>University Archives, Feb. 1:</b> Thomas Paine ALS Confirming Christmas Eve Attack Likely Based on Anti-Christianity, “The account you heard of a man firing into my house is true.” $24,000 to $35,000.
    <b>University Archives, Feb. 1:</b> George Washington Gives a Horse and Guns to His Loyal Guard 10 Days Before Resigning as Commander-in-Chief. $20,000 to $30,000.
    <b>University Archives, Feb. 1:</b> John Hancock ALS, “General Howe is bent on coming here” - Troops, Martha Washington, & 1777 Continental Congress, to Wife Dolly! $20,000 to $30,000.
    <b><center>University Archives<br>Rare Manuscripts, Books & Sports Memorabilia<br>February 1, 2023</b>
    <b>University Archives, Feb. 1:</b> Abraham Lincoln Boldly and Fully Signs Appointment of Consul Who Would Facilitate Bond Sales in Europe Financing Civil War. $6,000 to $7,000.
    <b>University Archives, Feb. 1:</b> The Rarest of Dual Signed Kennedy Items! 1963 Christmas Card with "Blessed Christmas" Removed at the Last Minute for Kennedy's Jewish Friends. $15,000 to $20,000.
    <b>University Archives, Feb. 1:</b> George Gershwin Signed Contract for 1st Production of <i>Porgy and Bess,</i> Also Signed by Dubose Heyward & Ira Gershwin, Historic! $15,000 to $20,000.
    <b><center>University Archives<br>Rare Manuscripts, Books & Sports Memorabilia<br>February 1, 2023</b>
    <b>University Archives, Feb. 1:</b> Einstein Signed, “Two years after the fall of the German Goyim” 1st Ed. of <i>Mein Weltbild.</i> $12,000 to $14,000.
    <b>University Archives, Feb. 1:</b> Walt Disney <i>Fantasia</i>-Era Boldly Signed TLS Re: "Special Effects Department," PSA Certified Authentic & With Phil Sears COA. $6,000 to $7,000.
    <b>University Archives, Feb. 1:</b> 1996-97 Michael Jordan Chicago Bulls Home Game-Worn Jersey Showcasing "Light" Evident Use, MEARS A5. $6,000 to $7,000.
    <b><center>University Archives<br>Rare Manuscripts, Books & Sports Memorabilia<br>February 1, 2023</b>
    <b>University Archives, Feb. 1:</b> Wayne Gretzky’s 1994 All-Star Used Game Jersey, Inscribed to Former MLB Player! $4,500 to $5,500.
    <b>University Archives, Feb. 1:</b> <i>The Astronauts</i> Signed by All 7 Mercury Astronauts! $4,000 to $5,000.
    <b>University Archives, Feb. 1:</b> Fabulous Edison, Firestone, Burroughs Signed Journal With 44 Original Photos, Very Rare. $4,000 to $5,000.
  • <b>Il Ponte, Jan. 31:</b> BLAEU, Joannes and Martinus MARTINI - <i>Theatrum orbis terrarum, sive Novus Atlas. Pars sexta. Novus Altas Sinensis.</i> Amsterdam: Blaeu, 1655. €8.000 to €12.000.
    <b>Il Ponte, Jan. 31:</b> ORTELIUS, Abraham - <i>Theatrum orbis terrarum.. Nomenclator ptolemaicus.</i> Antwerp: Christopher Plantin, 1579. €10.000 to €15.000.
    <b>Il Ponte, Jan. 31:</b> PIRANESI, Giovanni Battista - <i>Carceri d'invenzione.</i> [Rome: G.B. Piranesi, second half of the 18th century]. €20.000 to €30.000.
  • <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
    <center><b>California International Antiquarian Book Fair<br>February 10-12, 2023<br>Pasadena Convention Center<br> abaa.org/cabookfair
  • <b><center>Swann Auction Galleries<br>View Our Record Breaking Results</b>
    <b>Swann:</b> Gideon Welles, <i>Extensive archive of personal and family papers of Lincoln’s Secretary of the Navy,</i> 1791-1914. Sold September 29 — $281,000.
    <b>Swann:</b> Charles Addams, <i>Rock Climbers,</i> cartoon for <i>The New Yorker,</i> watercolor, ink and gouache, 1954. Sold December 15 — $37,500.
    <b>Swann:</b> Charlotte Brontë, <i>Jane Eyre. An Autobiography. Edited by Currer Bell,</i> three volumes, first edition, 1847. Sold June 16, 2022 — $23,750.
    <b>Swann:</b> Geoffrey Chaucer, <i>The Workes of Geffray Chaucer Newlye Printed,</i> London, 1542. Sold October 13 — $106,250.
    <b><center>Swann Auction Galleries<br>View Our Record Breaking Results</b>
    <b>Swann:</b> Dorothea Lange, <i>Migrant Mother, Nipomo, California (Destitute pea pickers in California. Mother of seven children. Age 32),</i> silver print, 1936. Sold October 20 — $305,000.
    <b>Swann:</b> George Washington, Autograph Document Signed, with two manuscript plat maps in holograph, 1751. Sold October 27 — $37,500.
    <b>Swann:</b> Winfred Rembert, <i>Winfred Rembert and Class of 1959,</i> dye on carved & tooled leather, 1999. Sold October 6 — $233,000.
    <b>Swann:</b> M.C. Escher, <i>Relativity,</i> lithograph, 1953. Sold November 3 — $81,250.

Rare Book Monthly

Articles - June - 2005 Issue

Following Up a 25-Year-Old Book Investment Scheme

Fedwards

Rare book investment portfolio proposal.


By Michael Stillman

Books are purchased primarily for two reasons, reading and collecting. While the first purpose is the main reason they are published in the first place, it is generally a one-time shot. Read it once and its usefulness has been depleted. However, collecting has a permanence. It gives books a long term, and likely increasing, value. And once something has these attributes, a third purpose raises its head: investing. Most people who collect books for the sheer love of them are probably aware of this secondary purpose. Still, it isn't often that books are collected solely for investing. Once in awhile, they are, and a chance encounter with a 25-year-old pamphlet gives us an opportunity to look back on such a scheme.

While digging through boxes of old auction catalogues being prepped for the Americana Exchange Database*, we chanced upon a pamphlet produced by Francis Edwards, Ltd., of London, around 1980. Before we continue, we need to point out that this is not the same Francis Edwards of today. Francis Edwards today is again a traditional antiquarian bookseller, just as the firm was for more than a century before this pamphlet was printed. This pamphlet dates from a brief period between the 1978 sale by the Edwards family to venture capitalists to its early 1980s purchase by the current owners. The firm of Francis Edwards is now back to selling books in the British book town of Hay-on-Wye, as well as in London, as it has done through most of its existence since founded by Mr. Edwards in 1855.

During the brief venture capital period around 1980, the firm published this pamphlet, Rare Books for the Collector From the Investor's View, Francis Edwards Limited, Creating a Portfolio. Basically, the plan worked like this. You would invest a sum of money, minimum GPB (British pounds) 500, with the firm. This, they explained, was "the minimum feasible sum which will permit a balanced portfolio of titles across subjects, authors and countries." Then, "specialists identify titles which in their opinion will provide good appreciation over a period of several years." The purchaser could take physical possession of these books if he liked, or store and insure them with Edwards for 2% per year. They could be sold at any time, but the firm explained that this "scheme" (their words, not mine) was designed for those expecting to hold the books for "3 to 5 years."

Rare Book Monthly

  • <center><b>Potter & Potter Auctions<br>Fine Books & Manuscripts,<br>including Americana<br>February 16, 2023</b>
    <b>Potter & Potter, Feb. 16:</b> [KELMSCOTT PRESS]. CHAUCER, Geoffrey. <i>The Works…now newly imprinted.</i> Edited by F.S. Ellis. Hammersmith: Kelmscott Press, 1896. $100,000 to $125,000.
    <b>Potter & Potter, Feb. 16:</b> [EINSTEIN, Albert (1879–1955)]. –– ORLIK, Emil (1870–1932), artist. Lithograph signed (“Albert Einstein”). N.p., 1928. $10,000 to $15,000.
    <b>Potter & Potter, Feb. 16:</b> TOLKIEN, John Ronald Reuel. <i>[The Lord of the Rings trilogy:] The Fellowship of the Ring.</i> 1954. –– <i>The Two Towers.</i> 1954. –– <i>The Return of the King.</i> 1955. $10,000 to $15,000.
    <b>Potter & Potter, Feb. 16:</b> CLEMENS, Samuel Langhorne ("Mark Twain") and Charles Dudley WARNER. <i>The Gilded Age: A Tale of Today.</i> Hartford and Chicago, 1873. $6,000 to $8,000.
    <b>Potter & Potter, Feb. 16:</b> LOVECRAFT, Howard Phillips. <i>Beyond the Wall of Sleep.</i> Collected by August Derleth and Donald Wandrei. Sauk City, WI: Arkham House, 1943. $2,000 to $3,000.
  • <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> [Black Sun Press] Proust, Marcel, 47 Unpublished Letters from Marcel Proust to Walter Berry, Paris: The Black Sun Press, 1930. $400 to $600.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> Williams, William Carlos (1883-1963), <i>Spring and All,</i> first edition, Paris: Contact Publishing Co., 1923. $400 to $600.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> Washington, George (1732-1799), Autograph Letter Signed. $10,000 to $15,000.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> Poe, Edgar Allan (1809-1849), Autograph Letter Signed. $30,000 to $50,000.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> Thoreau, Henry David (1817-1862), Autograph Manuscript. $3,000 to $5,000.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> [Paris Commnue], Photograph album. $1,500 to $2,500.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> Fleming, Ian (1908-1964), <i>Casino Royale,</i> first edition, London: Jonathan Cape, 1953. $3,000 to $4,000.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> Audubon, John James and the Rev. John Bachman, <i>The Quadrupeds of North America,</i> New York: V.G. Audubon, 1849, 1851, 1854. $4,000 to $6,000.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> Lewis, C.S. (1898-1963), <i>The Voyage of the Dawn Treader,</i> first edition, London: Geoffrey Bles Ltd, 1952. $600 to $800.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> [Bhagavad Gita] Wilkins, Charles, trans., <i>The Bhagvat-Geeta, or Dialogues of Kreeshna and Arjoon…,</i> first edition, London: Printed for C. Nourse, 1785. $700 to $1,000.
    <b>Bonhams Skinner, Jan. 23 – Feb. 2:</b> Goethe, Johann Wolfgang von, <i>Faust: Eine Tragodie von Goethe,</i> Hammersmith: Printed by T.J. Cobden-Sanderson & Emery Walker at the Doves Press, 1906-1910. $800 to $1,200.
  • <b><center>Sotheby’s<br>Original Film Posters<br>27 January - 10 February 2023</b>
    <b>Sotheby’s, Jan. 27-Feb. 10:</b> Vertigo (1958), poster, US. The ultimate poster on this classic Hitchcock title, one of three known examples. £40,000 to £60,000.
    <b>Sotheby’s, Jan. 27-Feb. 10:</b> Lawrence of Arabia (1962), roadshow poster, US. £8,000 to £12,000.
    <b>Sotheby’s, Jan. 27-Feb. 10:</b> Star Wars (1977), style C poster, printer's proof, US. £7,000 to £10,000.
    <b>Sotheby’s, Jan. 27-Feb. 10:</b> The Navigator/ La Croisiere du Navigator (1924), re-release poster (1931), French. £5,000 to £8,000.
    <b>Sotheby’s, Jan. 27-Feb. 10:</b> Bullitt (1968), special test poster, US. £3,000 to £5,000.
  • <b>Old World Auctions (Feb 8):</b> Lot 817. Bellin's complete five-volume maritime atlas with 581 maps & plates (1764). $24,000 to $30,000.
    <b>Old World Auctions (Feb 8):</b> Lot 325. An early and important map of the Republic of Texas (1837). $11,000 to $14,000.
    <b>Old World Auctions (Feb 8):</b> Lot 45. De Bry's early map of North Pole depicting Willem Barentsz' expedition (1601). $3,500 to $4,250.
    <b>Old World Auctions (Feb 8):</b> Lot 154. Poignant map of the United States documenting lynchings (1931). $250 to $325.
    <b>Old World Auctions (Feb 8):</b> Lot 457. Extremely rare matching set of pro-German propaganda from WWI (1914). $2,000 to $2,400.
    <b>Old World Auctions (Feb 8):</b> Lot 815. Homann's world atlas featuring 110 maps in contemporary color (1751). $14,000 to $16,000.
    <b>Old World Auctions (Feb 8):</b> Lot 60. Miniature pocket globe based on Herman Moll (1785). $3,500 to $4,500.
    <b>Old World Auctions (Feb 8):</b> Lot 8. Visscher's rare carte-a-figures world map (1652). $14,000 to $16,000.
    <b>Old World Auctions (Feb 8):</b> Lot 158. Matching satirical maps of the US by McCandlish: "Ration Map" & "Bootlegger's Map" (1944). $3,000 to $4,000.
    <b>Old World Auctions (Feb 8):</b> Lot 820. One of the finest English atlases of the early 19th century (1808). $4,750 to $6,000.
    <b>Old World Auctions (Feb 8):</b> Lot 59. Important milestone in preparation for 1969 moon landing (1963). $750 to $900.
    <b>Old World Auctions (Feb 8):</b> Lot 805. Superb bible leaf with image of crucifixion of Jesus with gilt highlights (1518). $800 to $950.

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