• <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 [Black Sun Press] Proust, Marcel, 47 Unpublished Letters from Marcel Proust to Walter Berry, Paris: The Black Sun Press, 1930.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>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.
  • <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

Rare Book Monthly

Articles - August - 2019 Issue

Now You Can Own a First Edition Harry Potter, a Honus Wagner Baseball Card

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Rare books will soon be joining automobiles as "investments of the rich, now available to all."

Would you like to own a first edition of Harry Potter and the Philosopher's Stone? How about the $3 million 1909 Honus Wagner Baseball card? Of course you would, but you can't. These are only available to the very or super rich. Ordinary mortals don't own these, certainly not the Honus Wagner card. Well, now you have a chance. Soon you will be able to buy these at a very affordable cost.

 

So, what's the catch? Well, you don't exactly get to own all of the book or card yourself. You get a share. These can represent as low as a .00004 interest in the Honus Wagner card. Expressed another way, that is ownership of 1/25,000th of the card. Don't plan on displaying your share of it on the wall. No one will see it.

 

Of course, this is meant to be an investment vehicle. The idea is to enable ordinary folks to participate in the investment in expensive luxury goods too costly for them to buy. The company offering these investments is Rally Rd. They must know something about alternative investment "vehicles" as that is, literally, what they have offered so far. Opening for business just last year, they began by selling shares in collectible automobiles. This is the only way I will ever own a Ferrari. Then again, I'd rather own a Chevy I can actually drive, so I don't feel too bad about this.

 

I don't fully understand the economics of this investment, other than, hopefully, these items will appreciate more than typical investments over the years. There is some hope that they will generate income through "membership experience programs." These seem to be places where they display their cars, now maybe books, where members can see them, presumably for a fee. Maybe they are displayed to others as well. Still, if they earn $10,000 a year from displaying "my" Honus Wagner card, my .00004 share will earn me 40 cents. This is before various management fees and expenses such as storage and insurance. It feels like the income/expense equation is as likely to be negative as positive.

 

It doesn't sound that easy to get out if I need my money back. There is no obvious marketplace and the management company does not promise to buy back shares. You can sell them on the open market, but where? They don't trade on an exchange. eBay? Craig's List? Perhaps, they plan to sell the assets someday, presumably after their value has greatly appreciated. That sounds like the best hope, but there is no guarantee this will happen, or how much of your profits may be devoured by fees and commissions along the way.

 

In their original prospectus, when still syndicating only automobiles, they said, "We believe other companies crowdfunding collectible automobiles or proposing to run a platform for crowdfunding of interests in collectible automobiles is very limited to date." It is, though this does remind me somewhat of another such investment opportunity - Aristophil. Perhaps it is unfair to make this comparison. The Aristophil collection consisted of hundreds of millions of dollars of manuscripts in which the manager sold shares. He clearly overpaid for many of the manuscripts, but hoped that buying up so much of the available material would push prices up. It didn't turn out that way.

 

However, Aristophil was different in that it made promises Rally Rd. does not. They promised to pay investors 8% annual interest, and repay principal on demand. To keep it afloat when investors started demanding their money, Aristophil became a pyramid scheme, taking money from new investors to pay back old ones. Rally Rd. makes no such commitments, so risk of bankruptcy, the inevitable end of Aristophil, is slim. Still, the Rally Rd. investments require substantial appreciation in value to make sense. If they pay too much, or the purchase price plus fees and commissions is more than the asset is worth, you can lose money on the deal. Of course, that is also true of stocks, bonds, gold, and real estate.

 

If you believe that luxury goods are a better investment than the aforementioned assets, and you are willing to take the risk investing in shares without an obvious liquid market, you may want to take a chance. I wouldn't, but then again, I failed to buy stock in Amazon, Apple, Google, or Facebook earlier in this century. What do I know? If I were that smart, I'd own a Ferrari, maybe a Honus Wagner. Make your own decisions, but don't say I didn't warn you.

Rare Book Monthly

  • <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.
  • <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.

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