• University Archives
    Rare Autographs, Books & Photos; Abraham Lincoln Collection
    April 23, 2025
    University Archives, Apr. 23: Best Image of Abraham Lincoln: "Closest… to ‘seeing' Lincoln… A National Treasure" Original Hesler/Ayres Interpositive. $800,000 to $1,000,000.
    University Archives, Apr. 23: Einstein, 3pp of Unified Field Theory Equations: “I want to try to show that a truly natural choice for field equations exists.” Formalizing His Final Approach, Association to Theory of Relativity. $80,000 to $120,000.
    University Archives, Apr. 23: Marilyn Monroe's Best Personally Owned & Annotated Script for Unfinished Last Film, "Something's Got to Give" (1962). $75,000 to $100,000.
    University Archives
    Rare Autographs, Books & Photos; Abraham Lincoln Collection
    April 23, 2025
    University Archives, Apr. 23: David Ben-Gurion ALS: "The Jewish people have attained the epitome...the State of Israel is born," 1 Day After Signing Israeli Declaration of Independence, Best Ben-Gurion Ever! $80,000 to $100,000.
    University Archives, Apr. 23: Lincoln ALS to Youth: "A young man, before the enemy has learned to watch him...votes... shall redeem the county" Evocative of Famous "Work" Letter. $70,000 to $100,000.
    University Archives, Apr. 23: Lincoln Appointment for Cabinet Member With Largest, Boldest, Full Signature! Important Content: Detente with England. $10,000 to $15,000.
    University Archives
    Rare Autographs, Books & Photos; Abraham Lincoln Collection
    April 23, 2025
    University Archives, Apr. 23: Abraham Lincoln Rare Signed Check To Law Partner W.H. Herndon, Perhaps Unique as Such! $20,000 to $25,000
    University Archives, Apr. 23: Tokyo War Crimes Files of Prosecuting Attorney For POW Camp Atrocities, 500+ Pages, Unpublished Court Documents, Photos and More. $25,000 to $35,000.
    University Archives, Apr. 23: 1698 South Carolina Slavery Archive Huguenot Planters Earliest Rare Plat Maps for Plantations 41 Docs 107 pp. Most Colonial. $25,000 to $35,000.
    University Archives
    Rare Autographs, Books & Photos; Abraham Lincoln Collection
    April 23, 2025
    University Archives, Apr. 23: Adam Smith ALS While Revising “The Wealth of Nations” - A New Discovery Documenting Meeting with Influential Editor. $18,000 to $24,000.
    University Archives, Apr. 23: Margaret Mitchell Rare ALS to Her Editor as Epic Film "Gone With the Wind" Gains Heat "Forgive this scrawl. I haven't written a letter in long hand in years and I've almost forgotten how it's done." $3,000 to $4,000.
    University Archives, Apr. 23: Einstein 1935 TLS, Hopes to Warn Non-Jews of "The true nature of the Hitler regime.” $8,500 to $10,000.
  • Bonhams, Apr. 21-29: ANDERSEN'S EXTREMELY RARE FIRST APPEARANCE IN PRINT. "Scene af: Røverne i Vissenberg i Fyen." in Harpen, 1822.
    Bonhams, Apr. 21-29: FIRST ISSUE OF THE FIRST THREE FAIRY TALE PAMPHLETS, WITH ALL INDICES AND TITLE PAGES. Eventyr, fortalte for Børn. 1835-1837.
    Bonhams, Apr. 21-29: THE FIRST FAIRY TALES WITH A SIGNED CARTE DE VISITE OF ANDERSEN AS FRONTIS. Eventyr, fortalte for Børn. 1835-1837.
    Bonhams, Apr. 21-29: KARL LAGERFELD. Original pastel and ink drawing in gold, red and black for Andersen's The Emperor's New Clothes (1992), "La cassette de l'Empereur."
    Bonhams, Apr. 21-29: PRESENTATION COPY OF THE SIXTH PAMPHLET FOR PETER KOCH. Eventyr, Fortalte For Børn, Second Series, Third Pamphlet. 1841. Publisher's wrappers, complete with all pre- and post-matter.
    Bonhams, Apr. 21-29: HANS CHRISTIAN ANDERSEN RARE AUTOGRAPH QUOTATION SIGNED IN ENGLISH from "The Ugly Duckling," c.1860s.
    Bonhams, Apr. 21-29: HEINRICH LEFLER, ORIGINAL WATERCOLOR FOR ANDERSEN'S SNOW QUEEN, "Die Schneekönigin," 1910.
    Bonhams, Apr. 21-29: FIRST EDITION OF ANDERSEN'S FAIRY TALES IN ENGLISH. Wonderful Stories for Children. London, 1846.
    Bonhams, Apr. 21-29: ANDERSEN ON MEETING CHARLES DICKENS. Autograph Letter Signed ("H.C. Andersen") in English to William Jerdan, July 20, 1847.
    Bonhams, Apr. 21-29: PRESENTATION COPY FOR EDGAR COLLIN. Nye Eventyr og Historier. Anden Raekke. 1861.
    Bonhams, Apr. 21-29: DOLL HOUSE FURNITURE BY HANS CHRISTIAN ANDERSON, DECORATED WITH FANTASTICAL CUT-OUTS, for the children of Jonna Stampe (née Drewsen), his godchildren.
    Bonhams, Apr. 21-29: PRESENTATION COPY FOR GEORG BRANDES. Dryaden. Et Eventyr fra Udstillingstiden i Paris 1867. 1868.
  • Jeschke Jádi
    Rare Book Auction 155
    Saturday April 26, 2025
    Jeschke Jádi, Apr. 26: Lot 962. Baird. United States Exploring Expedition. Philadelphia 1858.
    Jeschke Jádi, Apr. 26: Lot 772. Edith Holland Norton. Brazilian Flowers. Coombe Croft 1893.
    Jeschke Jádi, Apr. 26: Lot 49. Petrarca. Das Gluecksbuch, Augsburg 1536.
    Jeschke Jádi
    Rare Book Auction 155
    Saturday April 26, 2025
    Jeschke Jádi, Apr. 26: Lot 1496. Jacob / Picasso. Chronique des Temps, 1956.
    Jeschke Jádi, Apr. 26: Lot 8. Augustinus. De moribus ecclesie. Cologne 1480.
    Jeschke Jádi, Apr. 26: Lot 17. Heures a lusaige de Noyon. Paris 1504.
    Jeschke Jádi
    Rare Book Auction 155
    Saturday April 26, 2025
    Jeschke Jádi, Apr. 26: Lot 13. Schedel. Buch der Chronicken. Nürnberg 1493.
    Jeschke Jádi, Apr. 26: Lot 957. Donovan. Insects of China. London 1798.
    Jeschke Jádi, Apr. 26: Lot 123. A holy martyr. Tuscany, Florence, mid-14th century.
    Jeschke Jádi
    Rare Book Auction 155
    Saturday April 26, 2025
    Jeschke Jádi, Apr. 26: Lot 438. Dante. La Divine Comédie. Paris 1963.
    Jeschke Jádi, Apr. 26: Lot 602. Firdausi. Histoire de Minoutchehr. Paris 1919
    Jeschke Jádi, Apr. 26: Lot 994. Westwood. Oriental Entomology. London 1848.
  • Swann, Apr. 22: Lot 124: Henri Courvoisier-Voisin, et alia, [Recueil de Vues de Paris et ses Environs], depicting precursors of the modern roller coaster, Paris, [1814-1819?]. $2,000 to $3,000.
    Swann, Apr. 22: Lot 148: Pablo Picasso & Fernando de Rojas, La Célestine, First Edition, Paris, 1971. $30,000 to $40,000.
    Swann, Apr. 22: Lot 201: Omar Khayyam & Edward Fitzgerald, Rubaiyat, William Bell Scott's copy of the First Edition, London, 1859. $20,000 to $30,000.
    Swann, Apr. 22: Lot 223: Charles Dickens, Great Expectations, First Edition, extra-illustrated with hand-colored plates by Palinthorpe, London, 1861. $7,000 to $9,000.
    Swann, Apr. 22: Lot 248: L. Frank Baum, The Wonderful Wizard of Oz, First Edition, inscribed by the illustrator, Chicago & New York, 1900. $20,000 to $30,000.
    Swann, Apr. 22: Lot 305: Tycho Brahe & Pierre Gassendi, Tychonis Brahei Vita, Paris, 1654. From the Collection of Owen Gingerich. $8,000 to $12,000.
    Swann, Apr. 22: Lot 338: Giovanni Battista Riccioli, Almagestum Novum, two folio volumes, Bologna, 1651. From the Collection of Owen Gingerich. $8,000 to $10,000.
    Swann, Apr. 22: Lot 350: Tobias Cohn, Ma'aseh Toviyyah, first edition, Venice, 1707-8. $3,000 to $5,000.
    Swann, Apr. 22: Lot 359: Alan Turing, Computing, Machinery, and Intelligence, first edition, Edinburgh, 1950. $3,000 to $5,000.

Rare Book Monthly

Articles - February - 2021 Issue

Prices at Auction: It Was a Very Good Year

Sales are going up.

Sales are going up.

The year 2020 was a year like no other. The coronavirus pandemic was bad for way more businesses than it was good. Many went under. What would this mean for books and other paper collectibles? Would unemployment rates that soared higher than at any time since the Great Depression severely damage the trade, or would people stuck at home but not financially hurt exchange dollars usually spent on entertainment for building their collections? The experiences felt by many dealers was different, but for auctions of books and other paper collectibles, the answer was collectors repurposed those dollars rather than hording them. They collected. It was an exceptionally good year at auction.

 

The median or midpoint price of all lots sold was $285. In 2019, it was $275. That was an increase of 3.6%, more than erasing a 2.8% drop the year before. It was the highest since 2014 when it was $286. The average price declined from $1,834 to $1,684, but the average is highly affected by a few sales at the very top, rather than reflecting the overall market. As noted last month in our report on the Top 500 paid at auction, prices were soft at the very high end.

 

One might think the increase in prices was balanced by fewer sales being made but that was not the case. The sell-through rate was an astonishing 83%. That was up from 77% the previous year. In fact, that was the highest sell-through rate since we have been tracking these numbers in 2004 and it wasn't even close. This was the first time it has exceeded 80%. And, that was not because fewer items were offered. That number was also up, slightly, to 521,422, or 4,000 more than the prior year. The number of lots sold in 2020 was 430,544 vs. 395,690 in 2019. Interestingly, the total dollar volume of sales was exactly the same as 2019 - $725 million. What that represented was a decline in prices at the high end balanced by an increase in prices and sales of material at the lower and middle ranges. That is a change in what we have come to expect – strength at the top with weakening demand at the lower and middle prices. That was a surprising revelation.

 

We recognize that many dealers have not experienced such a good year as their model was not as amenable to a lock-down year. Auction sales have been evolving more and more toward an online, virtual model for years. Most sales are no longer made to buyers present in the auction rooms. Rather, they go to online and telephone bidders. On the other hand, many dealers have relied on in-person contact, either in their bookstores or through participation at live book fairs. Many found their stores forced to close during the pandemic, and even when allowed to be open, few people dared to venture out to public spaces, particularly among the more vulnerable older people who make up a large part of the collecting market. Meanwhile, live fairs came to a screeching halt after the New York fairs in early March and never resumed.

 

The reality is many dealers have been struggling for many years as the older models for book selling have not worked as well in the current market. Herein lies a potential long term bright spot for the dealers in the midst of this difficult year. One has been the emergence of paper collectibles other than books, such as manuscripts, photographs, prints, comic books, even baseball cards. Even among book buyers, more collectors are collecting a subject, rather than a type, that is, buying books, manuscripts, prints etc. pertaining to a favored subject, rather than buying only books or prints, etc. Many dealers are expanding their inventory to meet this changing demand, rather than limiting themselves to a single shrinking part of the market.

 

The other bright spot is the surprising success of the virtual book fairs. Reports from both dealers and fair organizers have mostly been very positive, and it appears that this new sales vehicle will remain even after the coronavirus is gone. There is something new under the sun in book and paper selling after all, and this one has some major advantages over the live book fair. It is easier to prepare for this type of fair and the cost of participation is much less for the dealer. Selling more is only one way of improving profitability. Reducing costs is the other.

 

Here are some more statistics from auction sales for 2020. As usual, more lots sold for over the auction houses' high estimate than below it, 59%-22%. However, that is a misleading number since lots that do not sell are really the same as selling for less than the low estimate. In 2019, 42.2% of all lots sold for over the highest estimate, while slightly more, 43.4%, either sold below the low estimate or did not sell at all. In 2020 there was a complete reversal. 48.6% of all lots offered sold above their high estimates while 35.5% sold under the low estimate or not at all. Apparently, even the auction houses did not anticipate such robust prices.

 

The busiest quarter was, as usual, the fourth, with 32.2% of the lots offered in the last quarter. That was up from 31% the prior year. In 2019, May was the busiest month, but for whatever reason, it was only the fifth most active month in 2020. Most likely, the auction houses were still adjusting to the pandemic. Most years, November is the busiest, but for the first time, the highest number of lots were offered in December, saving the most, if not the best, for last. 11.5% of all lots were offered in December compared to 5.3% in August, the slowest month. Nevertheless, August has been the fastest growing month in recent years as more houses try to reach buyers at a time of year when competition is not as great.

 

The highest average price went to the Arader Galleries in-house auctions at $28,912 per lot. Next came Christie's King Street London at $23,418, followed by Christie's New York and Sotheby's New York, both at $21,000-plus. These numbers were mostly down, reflective of some softness at the top. At the other end of the scale, there are still bargains available in the Lancaster Mennonite Historical Society sales with an average of $53 per lot, and Alaska Auction at $66. Those who collect on a limited budget will be pleased that 16 houses had median prices under $100.

 

As for who sold (and offered) the most lots it again was not close. That went to Heritage Auction, which sold 179,915 lots. Only two others were over 10,000, Catawiki with 15,618 and RR Auction with 10,730. Trilium, Forum, Holabird Kagin, and PBA all had over 9,000.

Rare Book Monthly

  • Old World Auctions (April 23):
    Lot 748. Second volume of Blaeu's atlas featuring 89 maps of the Americas and Asia (1642) Est. $12,000 - $15,000
    Old World Auctions (April 23):
    Lot 12. A world map with popular cartographic myths and unique embellishments (1788) Est. $3,000 - $3,750
    Old World Auctions (April 23):
    Lot 30. One of the most sought-after charts from Cellarius' work (1708) Est. $1,200 - $1,500
    Old World Auctions (April 23):
    Lot 38. Anti-Vietnam War persuasive cartography on a velvet poster (1971) Est. $350 - $425
    Old World Auctions (April 23):
    Lot 43. Ortelius' influential map of the New World - second plate (1584) Est. $4,750 - $6,000
    Old World Auctions (April 23):
    Lot 95. Scarce German map illustrating the French & Indian War (1755) Est. $8,000 - $9,500
    Old World Auctions (April 23):
    Lot 149. Bachmann's dramatic view of the Mid-Atlantic region (1864) Est. $1,200 - $1,500
    Old World Auctions (April 23):
    Lot 373. De Jode's very rare map of Europe with costumed figures (1593) Est. $6,000 - $7,500
    Old World Auctions (April 23):
    Lot 674. De Bry's Petits Voyages, Part VII with all plates and map of Sri Lanka (1606) Est. $1,400 - $1,700
    Old World Auctions (April 23):
    Lot 704. The first printed map devoted to the Pacific in full contemporary color (1589) Est. $7,500 - $9,000
    Old World Auctions (April 23):
    Lot 734. Superb hand-colored image of the Tree of Jesse (1502) Est. $700 - $850
  • Sotheby's
    Sell Your Fine Books & Manuscripts
    Sotheby’s: The Shem Tov Bible, 1312 | A Masterpiece from the Golden Age of Spain. Sold: 6,960,000 USD
    Sotheby’s: Ten Commandments Tablet, 300-800 CE | One of humanity's earliest and most enduring moral codes. Sold: 5,040,000 USD
    Sotheby’s: William Blake | Songs of Innocence and of Experience. Sold: 4,320,000 USD
    Sotheby’s: The Declaration of Independence | The Holt printing, the only copy in private hands. Sold: 3,360,000 USD
    Sotheby's
    Sell Your Fine Books & Manuscripts
    Sotheby’s: Thomas Taylor | The original cover art for Harry Potter and the Philosopher's Stone. Sold: 1,920,000 USD
    Sotheby’s: Machiavelli | Il Principe, a previously unrecorded copy of the book where modern political thought began. Sold: 576,000 GBP
    Sotheby’s: Leonardo da Vinci | Trattato della pittura, ca. 1639, a very fine pre-publication manuscript. Sold: 381,000 GBP
    Sotheby’s: Henri Matisse | Jazz, Paris 1947, the complete portfolio. Sold: 312,000 EUR
  • Gros & Delettrez, Apr. 23: BELLEFOREST (François de). La cosmographie universelle de tout le monde. €12,000 to €15,000.
    Gros & Delettrez, Apr. 23: DESNOS (Louis Charles). Mappe-monde, ou Carte Generale de la Terre. €5,000 to €6,000.
    Gros & Delettrez, Apr. 23: BLAEU (Willem Janszoon & Joan). Theatrum Sabaudiae. €18,000 to €20,000.
    Gros & Delettrez, Apr. 23: LINASSI. Ferdinando Ie Maria Anna Carolina nel Litorale in Settembre 1844. €4,000 to €5,000.
    Gros & Delettrez, Apr. 23: AMBROSOLI (Francesco). Monumento a Francesco Primo in Vienna. €3,000 to €4,000.
    Gros & Delettrez, Apr. 23: Plano de la plaza de Mesina y de su ciudadel y castiglios. €5,000 to €6,000.
    Gros & Delettrez, Apr. 23: ROCKSTUHL (Alois Gustav), GILLE (Florent A.). 78 Lithographies du Musée de Tzarskoe-Selo. €1,000 to €1,500.
    Gros & Delettrez, Apr. 23: Chtchedrovski, Ignatiy Stepanovitch. €2,000 to €3,000.
    Gros & Delettrez, Apr. 23: DE BRUYN (Cornelis). Voyage au Levant. €3,000 to €5,000.
    Gros & Delettrez, Apr. 23: ABI ISHAQ AHMAD B. IBRAHIM AL-THAʿLABI (M. 1035) : TROISIÈME VOLUME DU KASHF WA-L-BAYAN ʻAN TAFSIRI AL-QURʼAN. €3,000 to €5,000.
    Gros & Delettrez, Apr. 23: DESNOS (Louis Charles). L’Afrique. €3,000 to €4,000.
    Gros & Delettrez, Apr. 23: DE BRUYN (Cornelis). Voyages de Corneille Le Brun par la Moscovie, en Perse, et aux Indes orientales. €1,500 to €2,000.
    Gros & Delettrez, Apr. 23: DESNOS. (Louis Charles). Amérique septentrionale et Méridionale. €4,000 to €5,000.
    Gros & Delettrez, Apr. 23: ÉLIOT (J.B.) ; MONDHARE (Louis Joseph). Carte du théatre de la guerre actuel entre les anglais et les treize Colonies Unies de l'Amérique Septentrionale. €5,000 to €6,000.

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