• Freeman’s | Hindman, June 25: [Keats, John] Spenser, Edmund: The Works of that Famous English Poet, Mr. Edmond Spenser. $50,000 - $80,000.
    Freeman’s | Hindman, June 25: (Walton, Izaak): The Compleat Angler or the Contemplative man's Recreation. Being a Discourse of Fish and Fishing. $30,000 - $50,000.
    Freeman’s | Hindman, June 25: Thomas, Gabriel: An Historical and Geographical Account of the Province and Country of Pensilvania; and of West-New-Jersey in America. $25,000 - $35,000.
    Freeman’s | Hindman, June 25: [Carroll, Lewis]: The Game of Alice in Wonderland. $2,000 - $3,000.
    Freeman’s | Hindman, June 25: Athias, Joseph, et al.: Biblia Hebraica. $7,000 - $10,000.
    Freeman’s | Hindman, June 25: [Warhol, Andy, and Jens Quistgaard] Dansk Designs Salesman's Presentation Catalogue. $2,500 - $3,500.
  • Sotheby’s, June 26: Poe, Edgar Allan. Tamerlane — the most poignant rarity in American literature. 400,000 - 600,000 USD
    Sotheby’s, June 26: The Declaration of Independence. "We hold these truths to be self-evident, that all men are created equal..." 2,500,000 - 5,000,000 USD
    Sotheby’s, June 26: William Blake. “Poems with very wild and interesting pictures” 1,200,000 - 1,800,000 USD
    Sotheby’s, June 26: Thomas Taylor [artist]. The original cover art for Harry Potter and the Philosopher’s Stone. 400,000 - 600,000 USD
  • Old World Auctions (Jun 5-19):
    Lot 4. Blaeu's Magnificent Carte-a-Figures World Map in Full Contemporary Color (1642) Est. $12,000 - $15,000
    Old World Auctions (Jun 5-19):
    Lot 125. 1775 Edition of the Landmark Fry-Jefferson Map of Virginia and Maryland (1775) Est. $15,000 - $18,000
    Old World Auctions (Jun 5-19):
    Lot 673. Rare Frontispiece in Full Contemporary Color with Gilt Highlights (1662) Est. $4,000 - $4,750
    Old World Auctions (Jun 5-19):
    Lot 717. Complete Tanner Atlas with Important Maps of Texas & Iowa (1845) Est. $4,000 - $4,750
    Old World Auctions (Jun 5-19):
    Lot 3. Henricus Hondius' Baroque-Style World Map (1641) Est. $9,500 - $11,000
    Old World Auctions (Jun 5-19):
    Lot 258. Complete Set of De Bry's Native Virginians & Picts from Part I of Grands Voyages (1608) Est. $2,750 - $3,500
    Old World Auctions (Jun 5-19):
    Lot 608. Superb Work on 18th Century Russia with over 100 Maps and Plates (1788) Est. $3,500 - $4,250
    Old World Auctions (Jun 5-19):
    Lot 49. One of the Most Important 16th Century Maps of the New World (1556) Est. $5,000 - $6,000
    Old World Auctions (Jun 5-19):
    Lot 706. Superb Image of the Annunciation in Contemporary Hand Color (1518) Est. $900 - $1,100
    Old World Auctions (Jun 5-19):
    Lot 123. One of the Earliest Maps to Show Philadelphia (1695) Est. $4,000 - $4,750
    Old World Auctions (Jun 5-19):
    Lot 631. One of the Earliest Printed Maps of Afghanistan & Pakistan (1482) Est. $1,900 - $2,200
    Old World Auctions (Jun 5-19):
    Lot 689. Proof Copy Engraving of the Senate Floor During the Compromise of 1850 (1855) Est. $1,500 - $1,800
  • Bonhams, June 15-25: 18th Century American Sea Captain's Journals of Voyages to Hawaii, China, and South America. $35,000 - $45,000
    Bonhams, June 15-25: Admiral Richard E. Byrd's Autograph Diary from Bolling Advance Base, Winter 1934. $40,000 - $60,000
    Bonhams, June 15-25: Thoreau, Henry David. Walden; Or, Life in the Woods. Boston: Ticknor and Fields, 1854. $4,000 - $6,000
    Bonhams, June 15-25: Cellarius, Andreas. Harmonia macrocosmica seu atlas universalis et novus, totius universi creati cosmographiam generalem, et novam exhibens. $20,000 - $30,000
    Bonhams, June 15-25: Nobelist George Stigler's Copy of Ricardo's Classic on the Science of Economics. $20,000 - $30,000
    Bonhams, June 15-25: Histoire charmante de l'adolescente sucre d'amour. Paris: F. L. Schmied, 1927. $15,000 - $20,000
    Bonhams, June 15-25: Fine Copy of Walras's Classic on the Theory of Marginal Utility. $12,000 - $18,000
    Bonhams, June 15-25: Arion Press Moby Dick. Melville, Herman. $8,000 - $12,000
    Bonhams, June 15-25: Venegas, Miguel. Noticia de la California, y desu conquista temporal, y espiritual hasta el tiempo presente. $7,000 - $9,000
    Bonhams, June 15-25: Carelton Watkins, Yosemite and the West. Portfolio of 21 imperial albumen prints. $6,000 - $9,000
    Bonhams, June 15-25: An Unpublished Archive of Thornton Wilder Correspondence to F.J. O'Neil. $6,000 - $9,000
    Bonhams, June 15-25: Vesalius, Andreas. 1514-1564. Suorum de humani corporis fabrica librorum epitome. $100,000 - $150,000

Rare Book Monthly

Articles - May - 2021 Issue

Coming Soon - Digital Collectible Books?

Beeple's 5000 Everydays (Christie's photo).

One advantage we always thought physical books had over their digital counterparts is that physical books are collectible. There is no way you could collect a book composed of ephemeral electronic impulses, a copy of which everyone on earth could have on their computer. Where is the substance? Where is the rarity? So much for common wisdom. Our perceptions were stunned a few weeks ago when a digital artwork sold for an astonishing $69.3 million at Christie's. Seriously. There is nothing on canvas, no physical painting. What the buyer got was a digital file, the same (almost) as every other one you can copy off the internet for free.

 

Welcome to the world of NFTs. NFTs are non-fungible tokens. There, that explains it. I don't understand it either. “Non-fungible” means one of a kind, it cannot be replaced by something else. An original painting is non-fungible, a print fungible. Tokens are those things that make cryptocurrency work. Bitcoin is a cryptocurrency, and one bitcoin can be replaced by another. They are fungible; they are all the same. An NFT adds a marker to the token that makes it unique. Your NFT, unlike your bitcoin, is not exactly like every other.

 

Still, there is nothing you can touch, hang on the wall, put on a shelf, even flip like a baseball card. It is just an image you view on a computer screen. I guess you can somehow display the token to your friends to show that yours is the “original” copy, but who is going to pay for that? The answer is someone just paid $69.3 million for it, so I guess we need to rethink that.

 

The artwork is called Everydays: The First 5000 Days. It is a collage of images from the Everydays series. The artist is “Beeple,” the art-name of Mike Winkelmann, age 39. He reminds me of Banksy, except we know who he is. "Beeple" is comparably self-effacing. On his website, Winkelmann (who refrained from using capital letters) writes, “he makes a variety of art crap across a variety of media. some of it is ok, but a lot of it kind of blows ass. he’s working on making it suck less everyday though so bear with him.” It's reminiscent of Banksy and his “I can't believe you morons actually buy this shit.” Like Banksy, his artwork is better than he makes it out to be, but still, $69.3 million for a digital file?

 

So, will we see books offered to collectors as NFTs? Unless this whole concept blows over really soon, I think it is inevitable. Not just art but videos, music, cards, all sorts of things are being sold now as NFTs. Books, which are now available as e-books, are an ideal use. A famous author could sell their first copy, in effect the manuscript, typed on a computer, as an NFT for big bucks. If you think an NFT of some text is a stretch, Jack Dorsey, founder of Twitter, sold his first “tweet” for $2.9 million. Yes, a first copy of an e-book can be sold as an NFT. Furthermore, NFTs can be created that are virtually identical, so the author could have a first edition of NFTs “printed” in a limited run of 50 copies and sell each of these, not as rare as a one-of-a-kind, but still rare. Presumably, the author could even digitally sign each of the digital copies to make them even more valuable.

 

Is this the future of collecting, or at least, a viable alternative to traditional collecting? Obviously, whoever paid $69.3 million for Beeple's artwork thinks so. Yes, you can display a picture that looks the same on your computer screen, or read an e-book that looks the same on your e-reader, and not notice the difference whether there is a multi-million dollar token with it or not. But, that is also true with prints, first and second printings or editions of books, or photographs, which all look essentially the same. For example, contemporaneously printed photos off the same negative are far more valuable than look-alike ones printed later, though they look the same. Some unnoticeable feature, like a watermark on the paper, makes all the difference. Perhaps the ability to have a look-alike digital version is not so critical after all.

 

You might argue that you cannot display your digital collection the way you can your physical one. You can only look at it on a computer monitor. Sort of, but you can now put up an electronic screen on the wall to display your artwork. You can show your picture, or alternatively, a picture of a bookshelf housing your e-books. Even better, you could have the screen on your wall scroll through your “paintings,” or scroll through images of the covers or title pages of your books. You are no longer limited to just displaying spines. Advantage, digital.

 

Of course, that still leaves the issue of not having something you can physically hold, traditionally such a major part of collecting. That is too big an obstacle for me. I want to be able to touch what I collect. But so what? I am not of the digital age. I may consider myself non-fungible, one of a kind, but to sellers of books and art, I am fungible. I can be replaced by another customer, so why should they care what I think? The reality is that the next customer more and more will be someone born of the digital age, for whom this type of collecting may make more sense than it does to me.

 

So, is this the future of collecting or just a temporary fad? We look to Winkelmann for an answer. He told Fox News, “I absolutely think it’s a bubble, to be quite honest. I go back to the analogy of the beginning of the internet. There was a bubble. And the bubble burst.” However, there is a second part to that quote, “But it didn’t wipe out the internet. And so the technology itself is strong enough where I think it’s going to outlive that.” Perhaps we won't see too many more $69 million price tags, or more of the other sky-high prices we have recently seen, but that doesn't mean this form of collecting will go away. The Dutch tulip bubble ended and people no longer pay ridiculous prices for tulips, but they still buy them. Perhaps there is a place for digital collecting, even if I won't be a participant. NFTs may survive, but these prices still look like a bubble to me.


Posted On: 2021-05-10 18:50
User Name: kenm

Hi Michael - perhaps a bit of a quibble but I don't think prints are fungible. If I lend you $10 then when you repay me, you don't need to return the exact $10 bill - because, in most cases, currency is fungible.
On the other hand, if I lend a museum a print for a gallery show (even a relatively common print) then when the show comes down, the museum can't give me a different copy of the print. I want my copy back.
Prints are not fungible which is why prints are considered to be each a unique piece of art.
regards
Ken


Rare Book Monthly

  • Dominic Winter Auctioneers
    Auctions on June 19
    and June 20
    Dominic Winter, June 19: Lot 70 - Warner (Robert). The Orchid Album, 11 volumes, 1882-1897. £5,000 to £8,000
    Dominic Winter, June 19: Lot 151 - United States. Melish (John), Map of the United States with..., British & Spanish Possessions, 1816. £40,000 to £60,000
    Dominic Winter, June 19: Lot 159 - World. Speed (John), A New and Accurat Map of the World, 1676. £4,000 to £6,000.
    Dominic Winter Auctioneers
    Auctions on June 19
    and June 20
    Dominic Winter, June 20: Lot 503 - American Civil War playing cards. Union Cards, New York: American Card Co., 1862. £500 to £800
    Dominic Winter, June 20: Lot 573 - Shepard (Ernest Howard), 'The Hour is Come’, original watercolour, [1959]. £10,000 to £15,000
    Dominic Winter, June 20: Lot 922 - Wilde (Oscar). An Ideal Husband, large paper limited issue, 1899. £4,000 to £6,000
    Dominic Winter Auctioneers
    Auctions on June 19
    and June 20
    Dominic Winter, June 20: Lot 744 - Disney (Walt). “Sketch Book” [of Snow White and the Seven Dwarfs], 1938. £700 to £1,000
    Dominic Winter, June 20: Lot 771 - Auden (Wystan Hugh). Portrait of the head of W. H. Auden, 1970. £1,000 to £1,500
    Dominic Winter, June 20: Lot 822 - Fleming (Ian). Goldfinger, 1st edition, signed by the author, 1959. £6,000 to £8,000
    Dominic Winter Auctioneers
    Auctions on June 19
    and June 20
    Dominic Winter, June 20: Lot 895 - Rowling (J. K.). A complete inscribed set of Harry Potter books plus ephemera. £8,000 to £12,0000
    Dominic Winter, June 20: Lot 883 - Orwell (George). Nineteen Eighty-Four, 1st edition, London: Secker & Warburg, 1949. £3,000 to £5,000
    Dominic Winter, June 20: Lot 700 - Ashendene Press. T. Lucreti Cari De Rerium Natura Libri Sex, Chelsea: Ashendene Press, 1913. £4,000 to £6,000
  • Heritage Auctions, June 27
    F. Scott Fitzgerald
    The Great Gatsby
    New York: Charles Scribner's Sons, 1925
    Heritage Auctions, June 27
    Mary Shelley
    Frankenstein: or, The Modern Prometheus
    London: Lackington, Hughes, Harding, Mavor, & Jones, 1818
    Heritage Auctions, June 27
    J. R. R. Tolkien
    The Hobbit; or, There and Back Again
    London: George Allen & Unwin Ltd., 1937
    Heritage Auctions, June 27
    Jane Austen
    Emma: A Novel. In Three Volumes. By the Author of "Pride and Prejudice," &c. &c.
    London: Printed for John Murray, 1816
    Heritage Auctions, June 27
    Robert Louis Stevenson
    An Inland Voyage
    London: C. Kegan Paul & Co., 1878
    Heritage Auctions, June 27
    Ernest Hemingway
    Three Stories & Ten Poems
    Paris: Contact Publishing Co., 1923
    Heritage Auctions, June 27
    Meriwether Lewis and William Clark
    History of the Expedition under the Command of Captains Lewis and Clark
    Philadelphia, 1814
    Heritage Auctions, June 27
    Emily Dickinson
    Autograph letter signed ("Emily and Vinnie"), to Mary Adelaide Hills
    Amherst, MA, Late April, 1880
    Heritage Auctions, June 27
    John Keats
    Autograph letter signed ("John Keats"), to Mrs. Jeffrey
    Honiton 4 or 5 May 1818
    Heritage Auctions, June 27
    Samuel Johnson
    A Dictionary of the English Language: In which the Words are deduced from their Originals…
    London, 1765
    Heritage Auctions, June 27
    H. P. Lovecraft
    Small archive of nine lengthy autograph letters signed variously over a period of six years to J. Vernon Shea.
    Various places, 1931-1937
    Heritage Auctions, June 27
    Izaak Walton
    The Compleat Angler or the Contemplative Man's Recreation…
    London: T. homas Maxey for Rich. ard Marriot, 1653
  • Bonhams, June 25: Vesalius, Andreas. 1514-1564. De humani corporis fabrica libri septem. $200,000 - $300,000
    Bonhams, June 25: Gersdorff, Hans Von. 1455-1529. Feldtbuch der wundartzney. $40,000 - $60,000
    Bonhams, June 25: Pare, Ambroise. C.1509-1590. La Methode Curative des Playes, et Fractures de la Teste humaine. Avec les pourtraits des Instruments necessaires pour la curation d'icelles. $25,000 - $30,000
    Bonhams, June 25: Reisch, Gregor. 1470-1525. Margarita Philosophica. $20,000 - $30,000
    Bonhams, June 25: Bright, Richard. 1789-1858. Reports of Medical Cases, Selected with a View of Illustrating the Symptoms and Cure of Diseases by a Reference to Morbid Anatomy. $12,000 - $18,000
    Bonhams, June 25: Berengario da Carpi, Giacomo. C. 1460-1530. Tractatus de fractura calve sive cranei. $10,000 - $15,000
    Bonhams, June 25: Vicq D'Azyr, Felix. 1748-1794. Traite d'antomie et de physiologie. $8,000 - $12,000
    Bonhams, June 25: Croce, Giovanni Andrea Della. 1509?-1775. Chirurgia libri septem... $8,000 - $12,000
    Bonhams, June 25: Bruno Da Longburgo. 1200-1286. La cyrogia di Maistro Bruno: Expertissimo in quella. Tradutta in vulgare. $8,000 - $12,000
    Bonhams, June 25: Schwann, Theodor. 1810-1882. Mikroskopische Untersuchungen uber die Ubereinstimmung in der Struktur und dem Wachsthum der Thiere und Pflanzen. $8,000 - $12,000
    Bonhams, June 25: Cowper, William. 1666-1709. The Anatomy of Humane Bodies, with Figures Drawn after the Life… $6,000 - $9,000
    Bonhams, June 25: Bidloo, Govard. 1649-1713. Anatomia humani corporis, centum & quinque tabulis, per artificiossis. G. de Lairesse ad vivum delineatis. $6,000 - $9,000

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