• <center><b>Arader Galleries<br>Live Auction<br>December 11, 2021</b>
    <b>Arader Galleries, Dec. 11:</b> De Wit’s composite atlas with magnificent full original color. $125,000 to $150,000.
    <b>Arader Galleries, Dec. 11:</b> Gardner's photographic sketch book of the Civil War. $200,000 to $250,000.
    <b>Arader Galleries, Dec. 11:</b> Waugh Oil Painting, 70 Degrees North; The Polar Bear. $400,000 to $600,000.
    <center><b>Arader Galleries<br>Live Auction<br>December 11, 2021</b>
    <b>Arader Galleries, Dec. 11:</b> Audubon aquatint, Ivory-Billed Woodpecker. $75,000 to $90,000.
    <b>Arader Galleries, Dec. 11:</b> Blaeu terrestrial table globe, 1602. $70,000 to $100,000.
    <b>Arader Galleries, Dec. 11:</b> Audubon aquautint, Ruby-Throated Humming Bird. $35,000 to $45,000.
    <center><b>Arader Galleries<br>Live Auction<br>December 11, 2021</b>
    <b>Arader Galleries, Dec. 11:</b> Bessa original watercolor of a bouquet of flowers. $75,000 to $125,000.
    <b>Arader Galleries, Dec. 11:</b> John Gould's only work devoted to American birds. $15,000 to $20,000.
    <b>Arader Galleries, Dec. 11:</b> Wyld & Malby pair of terrestrial & celestial globes, 1833. $50,000 to $75,000.
    <center><b>Arader Galleries<br>Live Auction<br>December 11, 2021</b>
    <b>Arader Galleries, Dec. 11:</b> Leutze map of the world oil painting. $70,000 to $100,000.
    <b>Arader Galleries, Dec. 11:</b> Caula, the finest 18th century drawing of Lison. $25,000 to $35,000.
    <b>Arader Galleries, Dec. 11:</b> Scolari / Blaeu map of Germania, 1650. $15,000 to $22,000.
  • <center><b>Sotheby’s<br>Zang Tumb Tuuum:<br>la révolution futuriste<br>Online Auction<br>30 November – 7 December</b>
    <b>Sotheby’s, Nov. 18:</b> The "Official Edition" of the United States Constitution and the First Printing of the Final Text of the Constitution, 1787. $15,000,000 to $20,000.
    <b>Sotheby’s, Nov. 30 – Dec. 7:</b> Marinetti, Filippo Tommaso. I Paroliberi Futuristi. 1914-1915. 8 p. Unique corrected proofs, for an anthology that remained unpublished. €40,000 to €60,000.
    <b>Sotheby’s, Nov. 30 – Dec. 7:</b> Cangiullo, Francesco. Studenti in Lettere. Università. 1915. Seminal work, featured in 3 historical futurist exhibitions. €20,000 to €30,000.
    <b>Sotheby’s, Nov. 30 – Dec. 7:</b> Cangiullo, Francesco. Chiaro di luna. Circa 1915. Collage and gouache on paper. €15,000 to €20,000.
    <b>Sotheby’s, Nov. 30 – Dec. 7:</b> Marinetti, Filippo Tommaso. Manicure. Faire les ongles à l'Italie. Circa 1915. A fantastic parody of an advertising poster. €20,000 to €30,000.
  • <center><b>Fonsie Mealy’s<br>Christmas Rare Books<br>& Collectors' Sale<br>December 7th & 8th, 2021</b>
    <b>Fonsie Mealy’s, Dec. 7-8:</b> Ortelius (Abraham). <i>Theatrum Orbis Terrarum,</i> folio, Antwerp, 1570, First Edition (2nd Issue), 53 double-page maps, contemporary hand colouring. €40,000 to €60,000.
    <b>Fonsie Mealy’s, Dec. 7-8:</b> An original engraved facsimile copy of the Declaration of Independence of 4 July 1776, issued by order of Congress on 4 July 1823 in a limited edition of 200 copies on fine parchment. €20,000 to €30,000.
    <b>Fonsie Mealy’s, Dec. 7-8:</b> Joyce (James). <i>Ulysses.</i> Shakespeare & Co., Rue de l’Odeon, Paris 1922. No. 559 of 1000 Copies of the First Edn.,, one of 750 Copies on handmade paper. €10,000 to €15,000.
    <center><b>Fonsie Mealy’s<br>Christmas Rare Books<br>& Collectors' Sale<br>December 7th & 8th, 2021</b>
    <b>Fonsie Mealy’s, Dec. 7-8:</b> Malton (James) [1761-1803]. A fine quality set of twenty-five hand coloured aquatint Views of Dublin, as published for <i>A Picturesque and Descriptive View of the City of Dublin</i>. €6,000 to €7,000.
    <b>Fonsie Mealy’s, Dec. 7-8:</b> 'Bloody Sunday.' An original Admission Ticket to Croke Park, Great Challenge Match (Football), Tipperary v. Dublin, Sunday, November 21,1920. Pink card, 3 ins x 4 ¼ ins. €4,000 to €5,000.
    <b>Fonsie Mealy’s, Dec. 7-8:</b> Joyce (James). <i>Haveth Childers Everywhere - Fragment from Work in Progress,</i> Paris & N.Y., 1930, First Edn., Signed and Limited No. 50 (100) Copies. €4,000 to €6,000.
    <center><b>Fonsie Mealy’s<br>Christmas Rare Books<br>& Collectors' Sale<br>December 7th & 8th, 2021</b>
    <b>Fonsie Mealy’s, Dec. 7-8:</b> Edward Lyons, Irish (1726-1801). Genealogy: <i>The FitzGerald's Arms of Carton House, Kildare,</i> pen and ink and watercolour on laid paper. €3,000 to €4,000.
    <b>Fonsie Mealy’s, Dec. 7-8:</b> Yeats (William Butler). <i>Poems.</i> Cuala Press, D. 1935, stiff blue paper covers, unlettered as issued, coloured initials and ornaments hand-drawn by Elizabeth Corbet Yeats. One of 300 copies. €2,000 to €3,000.
    <b>Fonsie Mealy’s, Dec. 7-8:</b> A fine and important collection of Ulster Wit. Belfast Political Scrapbook, 19th century. €1,500 to €2,000.
    <center><b>Fonsie Mealy’s<br>Christmas Rare Books<br>& Collectors' Sale<br>December 7th & 8th, 2021</b>
    <b>Fonsie Mealy’s, Dec. 7-8:</b> Rare Views of the Giant's Causeway. Coloured Prints: Drury (Susanna) [1698-1770]. A rare pair of original Engraved Prints. €1,200 to €1,500.
    <b>Fonsie Mealy’s, Dec. 7-8:</b> [Johnson (Rev. Samuel)]. <i>Julian the Apsostate Being a Short Account of his Life, together with a Comparison of Popery and Paganism,</i> L., 1682, First Edn. €800 to €1,200.
    <b>Fonsie Mealy’s, Dec. 7-8:</b> Aringhi (Pauli). <i>Roma Subterranea Novissima,</i> 2 vols. lg. folio Rome (Typis Vitalis Mascardi) 1651. €350 to €750.
  • <b><center>One of a Kind Collectibles Auctions<br>Rare Autographs, Manuscripts, Entertainment and Sports Auction<br>December 9th</b>
    <b>One of a Kind Collectibles, Dec. 9:</b> SITTING BULL SIGNED PHOTO (The Finest in Existence).
    <b>One of a Kind Collectibles, Dec. 9:</b> The Beatles Signed Photo Card and the Make-Up Sponge Used During the Historic February 1964 Ed Sullivan Performance.
    <b>One of a Kind Collectibles, Dec. 9:</b> Extremely Rare John Wesley Hardin Signature from a Texas Cattle Brand Book, early 1870s.
    <b><center>One of a Kind Collectibles Auctions<br>Rare Autographs, Manuscripts, Entertainment and Sports Auction<br>December 9th</b>
    <b>One of a Kind Collectibles, Dec. 9:</b> Albert Einstein "refugee intellectuals of the Hitler persecution.”
    <b>One of a Kind Collectibles, Dec. 9:</b> LYNDON B. JOHNSON Personally Owned & Worn STETSON HAT.
    <b>One of a Kind Collectibles, Dec. 9:</b> Sigmund Freud Typed Letter Signed in English "I am still on the road to health, but I have not arrived."
    <b><center>One of a Kind Collectibles Auctions<br>Rare Autographs, Manuscripts, Entertainment and Sports Auction<br>December 9th</b>
    <b>One of a Kind Collectibles, Dec. 9:</b> Nixon’s All Time Baseball All Star Team and the Reporter that helped change the 1972 Presidential Election!
    <b>One of a Kind Collectibles, Dec. 9:</b> Incredible signed ''Atomic Energy for Military Purposes'' -by Enrico Fermi & Robert Oppenheimer and- Also Signed by Four Other Manhattan Project Scientists Who Developed the First Atomic Bomb.
    <b>One of a Kind Collectibles, Dec. 9:</b> Samuel Adams, Signer of Declaration Of Independence, Signed Military Appointment.
    <b><center>One of a Kind Collectibles Auctions<br>Rare Autographs, Manuscripts, Entertainment and Sports Auction<br>December 9th</b>
    <b>One of a Kind Collectibles, Dec. 9:</b> Orville Wright & Glenn Martin Signed Photograph.
    <b>One of a Kind Collectibles, Dec. 9:</b> Thomas Jefferson, a Magnificent Large Signature.
    <b>One of a Kind Collectibles, Dec. 9:</b> Robert E. Lee ALS, “Suffering people of the South … blessing of God.”

Rare Book Monthly

Articles - August - 2021 Issue

Where are we going from here?: Dealers & the Online Era

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Spencer Stuart, collections advisor

Every book town has the bookstore. The singular institution run by a bookseller with decades of experience. You need to prepare yourself for such places. Fortify yourself to sustain your focus for as long as possible. But, as you wend between the stacks, extracting volumes with a care akin to disarming an explosive: what will become of all these books? What’s the owner’s exit strategy?

 

In some cases, there’s a daughter, son, or assistant who is poised to take the reins. In many cases, a line of assistants have endeavoured (but fallen short) of the task, ultimately departing, overwhelmed by the impenetrable nature of the hand-off.

 

Such sellers followed a maximalist approach to gathering inventory, going for volume of units over valuable items (although there are always treasures). If they were lucky, they bought the building. The truly canny will have locked in long term storage contracts to stockpile inventory. Every book town has at least one of these gems, through which collectors source material.

 

This article posits a future formed by the confluence of several transformations taking place in the rare book and paper market ecosystem.

 

The first has to do with the net addition of new collectors relying on the auction market. At first this was out of necessity during the Pandemic, however such converts have remained in the ecosystem due to the market-derived values they are able to monitor through publicly listed auction results. Supplemented by preliminary research to mitigate risk, these collectors are not likely to go back to traditional dealer-sourced channels. At least, they have their eye on both markets as outlined in my previous article for Rare Book Hub Monthly entitled “Where are we?”: https://rarebookhub.com/articles/3019

 

The second is the estimated influx of material entering the market in the coming decade from experienced collectors and seasoned booksellers. At present, there is a glut of exceptional material held in private collections, brick-and-mortar inventories, and among catalogue-centric booksellers. According to Statistica, by 2025, 20% of the United States population will be over the age of 65. Within the Book Trade, an estimated 30 to 40 percent of people are in this demographic. Without time and the development of a considered dissolution process, a great deal of knowledge, skill, and history is at risk of being lost along with their collections.

 

Below are six scenarios of current and likely business models and strategies employing Trade and Auction mentalities and the implications of such strategies for Dealers and their clients:

 

A. Born a Dealer, stay a Dealer

 

At present, many Booksellers maintain retail locations that predate the advent of online book sales. Some might own their building, but most are likely on a long-term lease. The shop owner intends to stay in the location, as there remains steady traffic in the area. This business even invested in online infrastructure, putting more valuable material online for sale through an ecommerce platform. They receive several calls a day from interested collectors looking to purchase and the family of deceased collectors offering to sell material, much of which the proprietor sold to the collector in the first place.

 

Assuming the business has maintained an eye for condition consistently in the acquisition of valuable material, remaining in a market where value is fixed and driven by fellow booksellers this business will see a decrease in sales and profit over time.

 

This sets the owner at a crossroads. Either the bookseller lists the item online or through catalogue awaiting a potential buyer, unable to target the market due to the day-to-day time demands of running a retail store. Alternatively, they can put the item up against others in an auction environment and have the Auction market it to prospective buyers.

 

Reluctance on the part of the bookseller to consider auction avenues results in cash flow issues, leaving the business forever reliant on selling high volumes of low-end material quickly.

 

Inventory turnover is key. Space is the currency in this scenario, leaving little room for valuable material because of the time required to carry out the sale. Because the bookseller will be dependent on Auctions to facilitate this segment of the strategy, net new clients will not be gained in this process, only a minor return on investment in order to cover the business’ overhead costs.

 

This business will survive for a few more years, if they are the best at something in their market, adept at marketing, and financially strong enough to transform when they need to.

 

B. Born a Dealer/Complement with auction

 

This Dealer is concerned with antiquarian and rare material in a rented location in a boutique part of town. They have specialists on staff and “wheelhouses” within which they are experts. They hold a deep inventory in ‘very good’ to ‘fine’ condition. Material is sourced through a variety of methods including outright purchasing as well as consignment, in some cases serving as a marketing agent for a collection of material.

 

Dealers such as this have a well-integrated online program listing their inventory on their own website, as well as several third-party platforms. They participate in international rare book fairs and occasionally sell through an auction house and typically have ‘a sense’ of the profile of the successful bidder.

 

This Dealer has true clients, rather than simple customer or transactional relationships. As a business, they likely have an intergenerational knowledge of the Trade, which makes it a great starting point for aspiring specialty Dealers.

 

However, this Dealer has a mounting dilemma: the Market demographic of their bread and butter subject offerings is either aging out or already has a sound collection. Across the board, the Dealer’s inventory is at a premium due to its exceptional nature (association copies, fine bindings, and so on). They are hearing word from mid-career collectors (a cohort considerably smaller than the 60+ demographic) that similar copies are available through auctions at a fraction of the price of the Dealer’s listings. Additionally, the very same collectors are learning what to look for at auction through the meticulously detailed catalogues the Dealer publishes.

 

This is a problem for the Dealer, since established clients are now questioning the way in which the Dealer is deriving value and, to wit, the value of their relationship with the Dealer themselves.

 

With a mix of owned inventory and consignment agreements, the Dealer’s offerings are stagnant and their collector base is diminishing. Something needs to change, fast.

 

Due to the high-value nature of the inventory, a Dealer of this stature cannot afford to continue relying on Auction houses to divest their material. Instead, they need to invest in hosting an auction platform of their own, similarly to how they rolled out their online storefront a decade earlier.

The value of this move is twofold. First, it demonstrates transparency to the Dealer’s established client base by offering market-derived prices. Second, the Dealer is able to retain valuable data about bidders. The auction platform is the key to building a sustainable client acquisition and retention strategy.

 

Such auctions could be a mix of owned inventory as well as consigned material. The proceeds could be used to acquire new collecting fields while phasing out of more traditional subjects. Additionally, Dealers pursuing this route are at an advantage to Auctions because of their secured supply of inventory and (potentially) reducing or eradicating premiums from their auctions.

 

This hybrid business approach is a transition strategy for a legacy Dealer intending to remain dominant in both private collector and institutional settings. It is also a potential exit strategy for a retiring Dealer, or a growth strategy for a younger Dealer. But it requires investment in new capabilities and capacities.

 

C. Born a Dealer/full transition to auction

 

This Dealer’s long-term lease is up in a couple of years. They have built a comprehensive clientele; however, sales have been steadily declining. They have witnessed material they sold going through auction as their collector clients are seeking higher returns as they dispense with their collections.

 

While their relationships with clients are strong and trust is high, the collectors are driven by the bottom line and are seeing conversion through publicly available auction results. The possibility of downsizing the shop is not an option, as rents have increased across the board (they would be paying more for less). 

 

Something needs to be done with the inventory, and the business model.

 

This Dealer barely made the transition to online sales.  Recently, they have made most of their major sales through in-person and virtual Fairs, as well as by selling to institutions. Although they cannot continue in a traditional retail business model, they also cannot step away from the Book business entirely. They have a significant role aiding their clients with deaccession and educating new collectors online by transitioning from the bookselling business into an auction platform — either by investing in the development of a custom auction platform or exclusive branded partnership with a third-party auction platform.

 

Admittedly this is an all-or-nothing strategy. It requires a total transformation of a Dealer’s marketing, positioning, and financial structure. However, it holds the potential to liquidate inventory while developing a service for those private collectors with whom the Dealer has fostered trusting relationships. It is also an opportunity to build a pipeline of new collectors. Well executed, this could be a value building, growth strategy.

 

 

D. Born auction

 

Established international auction houses have a limit to how low they can go on price when consigning material. This bar is being raised annually as the overheads of brick-and-mortar auction houses staffed by specialized personnel go up. Private collectors are left in the lurch in this dynamic, minding collections consisting primarily of middle value material. Their local bookseller who handles rare material cannot afford to take in the entire collection and the private collector is loath to have it split up, leaving them with only the lesser editions and tangential material to the main collecting focus.

 

The area of opportunity for this Collector is an online, specialized book auction platform.

 

At present, the primary model for this is Catawiki, where specialists inspect and vet material offered in online, timed sales. Because photography, storage, and shipping are arranged through the buyer and seller, this model allows for the auction house to keep their premiums at a minimum and process large volumes of low yield material that established auction houses cannot afford to handle. Assumed in this model is that the platform be designed by the company itself as well as running the marketing in-house. The low overhead frees up resources to market material and the relatively new profile of these businesses provide them a flexibility and ingenuity in where they target resulting in the potential of attracting net new collector clients. The position in the market for such platforms, combined with the low premiums, make this attractive to the aforementioned brick-and-mortar booksellers with inventory that was downgraded first by online retail, then further downgraded by the increasing incursion of auction houses into the market.

 

It is early days for this specialized model and will require significant start-up capital, as well as specialized expertise from both the Trade and Auction houses to legitimise the platform and streamline the process. However, given the trend toward auction participation as well as the influx of material into the marketplace in the coming decade, we will be seeing an increase of these platforms — perhaps followed by a consolidation (through acquisition, or otherwise).

 

E. Born auction/complement with brick and mortar

 

This is a speculative manifestation of the likely changes in the market for a brick-and-mortar location with a born digital auction platform.

 

Two things would be required in order for this to take place. First, a consolidation of the auction market so one organization has the lion’s share (or at least enough to feel confident in taking this risk). Their space would likely serve as a permanent showroom rather than an auction arena, offering an opportunity for the platform’s specialists to meet with sellers and buyers and/or facilitate educational programming to develop trust in the organization and attract the public into collecting.

 

The second requirement will be inventory. One of the defining characteristics of the ‘born auction’ category is that it does not handle the property offered; they merely facilitate the transaction. In a world where Dealers are managing the mounting influx of material combined with need to facilitate the buyer-side of transactions to keep the platform functioning, auction companies might begin purchasing inventory from Dealers, including catalogue descriptions to insure quality offerings. This would increase profit margins and (perhaps) enable auction companies to form partnerships with Dealers who have inventory and connections struggling to find new collectors.

 

It is unlikely that this hybrid will emerge immediately. However, given that online platforms are largely driven by venture capital, VC investors will be on the lookout for opportunities to increase profitability and growth (as well as market control) to increase the value of their company to prospective investors.

 

F. Do nothing

 

Doing nothing is an option for a brick-and-mortar Dealer with a majority of middle value inventory. At present, with an integrated online strategy as well as Fair attendance, they will be able to sustain themselves for a period of time.

 

Dealers have remarked that the increased standards of auction houses have had collectors come to them with material to sell. However, as born digital auction platforms are able to connect with prospective buyers and communicate the process clearly, replenishing inventory will become a challenge for such Dealers. This is detrimental to their overall business model. Dealers can’t sell a book they don’t have, and even if it was offered, they can’t afford to take on the risk.

 

Assuming the dealer’s inventory is comparable with items on offer through auction and dealer markets, a resolute stance will result in sellers avoiding them because offers are too low and buyers looking elsewhere because the high asking prices are not justified.  There are four options to stall this descent:

 

• The dealer publicly states how value is derived

• Adopt an auction model to make values market driven

• Liquidate inventory

• Fundamentally transform the Dealer business model (see ‘Born a Dealer/Complement with auction’ or ‘Born a Dealer/full transition to auction’)

 

At the time of writing, we are coming into a week that will see the execution of 50-100 specialized auctions.

 

The opportunity to form collections is more available than ever and there is a new cohort of hybrid collectors who mine data as they surf online and do not see it as diluting the experience of collecting. Rather, they find using data to inform their acquisition reassuring.  Engagement with the online world is a tool to enhance their experience in the physical one. It is a “yes/and” approach that employs a diverse range of channels, not an “either/or” of virtual over physical engagement.

 

Crucial to success of Dealers and Auctions in this emerging era of access and emergence of rare material from private collections is supply (CATALOGUE), developing a list of prospective buyers with an eye to emerging collecting practices (CLIENTS), and continual exposure to this audience — not only with upcoming offerings but also by demonstrating where and how value is derived (COMMUNICATION & COMPARISON).

 

At present, these four attributes are not obtained by either the dealer or auction segment of the market, however, the objective of securing all four will be the underlying forces that drive the emerging dynamic of the rare book and paper markets as online and auction entrenches itself and private collectors, equipped with the ability to independently analyze data, are weighing their options regarding the dispensation of their collections.

 

 

 

 

About Spencer W Stuart

 

Spencer W Stuart provides analytic services to collectors and dealers using auctions to build their collections and inventory. For Dealers, Spencer provides consulting services to develop hybrid or total transitions of book business to the use of auction mechanisms as a growth strategy.

 

In concert with his advising, Spencer is an active writer and lecturer on histories of the printed word for a variety of publications including The Book Collector and Amphora as well as with the Canadian Broadcasting Corporation.


Posted On: 2021-08-03 02:59
User Name: mairin

Thank you for this article, wonderfully useful.
And I'm now eager to know more about Spencer Stuart.
- Maureen E. Mulvihill, Collector / RBH Guest Writer.


Posted On: 2021-08-04 17:25
User Name: Fattrad1

Stuart is obviously clueless as to the flaws of the auction houses. Not a one, from top to bottom of prestige has been able to accurately catalog or assess a books condition and I have often seen prices realized far above those asked by reputable dealers.

Dealers will adapt to changing conditions, as will auction houses, prices will adjust in certain genres, some authors will go out of favor.

I'm afraid Stuart is merely seeking clients for his services.


Posted On: 2021-08-06 16:18
User Name: bjarnetokerud

Ilab affiliated dealers might laugh if expected to justify or demonstrate “where and how value is derived”. I believe Mr Stuart means disposition rather than dispensation.


Posted On: 2021-08-07 22:11
User Name: kenpa

I wonder what the word 'Born' means in this article. Born Auction, Born a Dealer etc. I am guessing that a synonym would be 'New'.
But I don't like to guess, any ideas?


Posted On: 2021-08-15 19:43
User Name: butterfields

Hi Spencer Nice piece tom lamb


Posted On: 2021-10-02 23:20
User Name: Janddgray

It Looks to me Mr Stuart has a lot of statistical information on the Book trade. Yet the Book trade should Take a look at the Art market and the Real estate markets. The notion of 'transparent' markets is also a fallacy. It is hard enough to figure how pork futures work, not to mention 500 year old books.
James Gray


Rare Book Monthly

  • <b><center>Christie’s<br>Valuable Books and Manuscripts<br>December 15</b>
    <b><center>Christie’s<br>Valuable Books and Manuscripts<br>December 15</b>
    <b><center>Christie’s<br>Valuable Books and Manuscripts<br>December 15</b>
    <b><center>Christie’s<br>Valuable Books and Manuscripts<br>December 15</b>
    <b><center>Christie’s<br>Valuable Books and Manuscripts<br>December 15</b>
  • <b><center>Aste Bolaffi<br>Rare Books and Autographs<br>December 16, 2021</b>
    <b>Aste Bolaffi, Dec. 16:</b> [Book of hours of Jean Boutin]. Illuminated manuscript on vellum, use of Rome, in Latin and French. France, early 15th century. From €50,000.
    <b>Aste Bolaffi, Dec. 16:</b> [Book of Hours]. Pontifical illuminated manuscript on parchment, in Latin. Southern France, late 15th century. From €40,000.
    <b>Aste Bolaffi, Dec. 16:</b> [Book of Hours]. Illuminated manuscript on parchment, in Latin and French. France, late 15th century. From €40,000.
    <b><center>Aste Bolaffi<br>Rare Books and Autographs<br>December 16, 2021</b>
    <b>Aste Bolaffi, Dec. 16:</b> [Book of Hours]. Officium B. Mariae Virginis. Illuminated manuscript on parchment, use of Rome, in Latin and Italian. 1482. From €40,000.
    <b>Aste Bolaffi, Dec. 16:</b> [Book of Hours]. Manuscript on parchment, in French. Amiens, 14th century. From €10,000.
    <b>Aste Bolaffi, Dec. 16:</b> Verdi, Giuseppe. 9 handwritten lines signed by Luisa Miller, with a dedication 'to Monsieur Felix Le Couppey, Paris 24 Jan. 1852'. From €8,000.
    <b><center>Aste Bolaffi<br>Rare Books and Autographs<br>December 16, 2021</b>
    <b>Aste Bolaffi, Dec. 16:</b> French Renaissance binding, produced in Lyon or Paris in the second half of the 16th century. Rhetoricorum secundus tomus in Gryphius' edition of 1548. From €800.
    <b>Aste Bolaffi, Dec. 16:</b> [Printing and the Mind of Man]. Gesner, Conrad. <i>Vogelbuch Darinn die art, natur und eigenschafft aller vöglen.</i> Zurigo, Froschauer, 1581, 1583, 1585, 1589. From €10,000.
    <b>Aste Bolaffi, Dec. 16:</b> [Dalmatia]. Berlinghieri, Francesco. Tabula quinta de Europa. Florence, Niccolò di Lorenzo della Magna, [before September 1482]. From €8,000.
    <b><center>Aste Bolaffi<br>Rare Books and Autographs<br>December 16, 2021</b>
    <b>Aste Bolaffi, Dec. 16:</b> Giampiccoli, Giuliano. Jacobo Comiti Duratio […] Tabulas a Marco Ricci Auctore, Julianus Giampiccoli incidit. Venezia, Teodoro Viero, 1775. €30,000.
    <b>Aste Bolaffi, Dec. 16:</b> [Piazzetta]. Pitteri, Marco. Studj di pittura gia dissegnati da Giambatista Piazzetta ed ora con l'intaglio di Marco Pitteri. Venezia, Giovanni Battista Albrizzi, 1760. From €4,000.
    <b>Aste Bolaffi, Dec. 16:</b> [Printing and the Mind of Man]. Palladio, Andrea. <i>I quattro libri dell'architettura.</i> Venezia, Domenico de' Franceschi, 1570. From €14,000.
  • <b><center>Doyle<br>Rare Books, Autographs & Maps<br>December 9</b>
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 47. Roosevelt, Theodore. Photograph inscribed to Morris J. Hirsch. May 7th 1918. $1,500 to $2,500.
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 178. Whitman, Walt. <i>Leaves of Grass.</i> Brooklyn, New York: [Printed for the author], 1955. First edition in the first issue binding. $70,000 to $100,000.
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 38. Mather, Cotton. <i>Magnalia Christi Americana; or, the Ecclesiastical History of New-England.</i> London: Printed for Thomas Parkhurst, 1702. First edition. $3,000 to $5,000.
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 55. Taylor, Zachary. Autograph letter signed as President-Elect. Baton Rouge: January 15, 1849. $5,000 to $8,000.
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 203. Picasso, Pablo. <i>Verve</i> Vol. V, Nos. 19-20. Paris: Editions Verve, 1948. Inscribed on the title page by Picasso. $1,500 to $2,500.
    <b><center>Doyle<br>Rare Books, Autographs & Maps<br>December 9</b>
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 211. Domergue, Jean-Gabriel. L'Ete a Monte Carlo. Lithographed poster, Lucien Serre & Cie, Paris, circa 1937. $1,000 to $1,500.
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 105. Manuscript Illumination attr. to Neri da Rimini. Large excised initial "N" from a choirbook, extensively historiated. [Likely Rimini: first quarter of the 14th century]. $2,000 to $3,000.
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 40. McKenney, Thomas L. and Hall, James. <i>History of the Indian Tribes of North America, with Biographical Sketches and Anecdotes of the Principal Chiefs.</i> Philadelphia: Rice, Rutter & Co., 1870. $3,00
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 222. Searle, Ronald. [Pets--a dog, cats and a parrot-- surrounded by books, and inspecting a globe, perhaps planning global domination]. Original drawing, 17 3/8 x 13 1/2 inches. $1,500 to $2,500.
    <b>Doyle, Rare Books, Autographs & Maps:</b> Lot 98. Faden, William; Scull, Nicholas and George Heap. A Plan of the City and Environs of Philadelphia, Survey'd by N. Scull and G. Heap. London: William Faden, 12 March 1777. $3,000 to $5,000.
  • <b>Bonhams, Dec. 15:</b> BENJAMIN FRANKLIN. Autograph Letter Signed ("B. Franklin"), to Benjamin Vaughan asserting the primacy of American independence in negotiating the Treaty of Paris, Passy, July 11, 1782. $80,000 to $120,000.
    <b>Bonhams, Dec. 15:</b> BENJAMIN FRANKLIN. Autograph Letter Signed ("B. Franklin") to David Hartley addressing Hartley's final issues with the recently completed ratification of the Treaty of Paris, Passy, June 2, 1784. $70,000 to $100,000.
    <b>Bonhams, Dec. 15:</b> MASON & DIXON. A hand-colored contemporary manuscript map titled in cartouche, "A Map of that Part of AMERICA where a degree of LATITUDE was measured for the ROYAL SOCIETY, by Chas Mason & Jer: Dixon," c.1768. $8,000 to $12,000.
    <b>Bonhams, Dec. 15:</b> WILLIAM BUTLER YEATS. Autograph Manuscript Signed ("WB Yeats"), a fair copy of "When Helen Lived" for John Preece headed ("For John Preece"), framed. $5,000 to $7,000.
    <b>Bonhams, Dec. 15:</b> "LINCOLN SEATED." KECK, CHARLES, sculptor. 1875-1951. Patinated bronze, 1950. Louise Taper Collection. $10,000 to $15,000.
    <b>Bonhams, Dec. 15:</b> ABRAHAM LINCOLN'S FINAL HOURS. BURNS, J., painter. <i>Death-Bed of Abraham Lincoln.</i> Oil on canvas, 1866. Collection of Louise Taper. $8,000 to $12,000.
    <b>Bonhams, Dec. 15:</b> FILSON, CHARLES PATTERSON, painter. 1860-1937. <i>Portrait of Edwin M. Stanton, Lincoln's Secretary of War.</i> $3,000 to $5,000.
    <b>Bonhams, Dec. 15:</b> A MATZOS BOX PRESENTED BY THE MANISHEVITZ BROTHERS TO WARREN G. HARDING. Louise Taper Collection. $2,000 to $3,000.
    <b>Bonhams, Dec. 15:</b> LEWIS CARROLL. Original albumen print photograph, approximately 6 7/8 x 8 3/4 inches, Chelsea, London, October 7, 1863, of the Rossetti Family at home, one of only three known examples of the full image. $50,000 to $70,000.
    <b>Bonhams, Dec. 15:</b> CHRISTINA ROSSETTI. <i>Verses ... Dedicated to Her Mother.</i> Privately printed, 1847. First edition of her first book, printed at her grandfather's press, THE ROSSETTI FAMILY COPY. $15,000 to $20,000.
    <b>Bonhams, Dec. 15:</b> CHRISTINA ROSSETTI. Original drawing of snowdrops in purple pencil, sent by CGR to Lucy Rossetti, inscribed "I doubt whether you will make out my copy from nature," 1887. $800 to $1,200.
    <b>Bonhams, Dec. 15:</b> DANTE GABRIEL ROSSETTI, et al. The Germ: <i>Thoughts towards Nature in Poetry, Literature and Art.</i> Fine copy in a Doves binding by Cobden Sanderson. $12,000 to $18,000.
  • <i>Der Sturm.</i> 1922. Sold October 2021 for € 13,000.
    Diophantus Alexandrinus, <i>Arithmeticorum libri sex.</i> 1670. Sold October 2021 for € 18,000.
    <i>Cozzani Ettore e altri, l’Eroica. Tutto il pubblicato.</i> Sold October 2021 for € 11,000.
    Newton Isaac, <i>Philosophiae naturalis principia mathematica.</i> 1714. Sold October 2021 for € 7,500.
    Manetti Saverio, <i>Storia naturale degli uccelli.</i> 1767-1776. Sold April 2021 for € 26,000.
  • <center><br>Swann Auction Galleries<br>Maps & Atlases<br>Natural History<br>& Color Plate Books<br>December 9, 2021</b>
    <b>Swann, Dec. 9:</b> John James Audubon, <i>Carolina Parrot, Plate 26,</i> hand-colored aquatint, 1828. $80,000 to $100,000.
    <b>Swann, Dec. 9:</b> Francisco Henrique Carls, <i>Album de Pernambuco e seus Arrabaldes,</i> 53 plates, Recife, circa 1873. $25,000 to $35,000.
    <b>Swann, Dec. 9:</b> Capt. Thomas Davies, group of five engraved topographical scenes of North American waterfalls, London, 1768. $8,000 to $12,000.
    <center><br>Swann Auction Galleries<br>Maps & Atlases<br>Natural History<br>& Color Plate Books<br>December 9, 2021</b>
    <b>Swann, Dec. 9:</b> William R. Morley, <i>Morley’s Map of New Mexico,</i> New Mexico, 1873. $7,000 to $10,000.
    <b>Swann, Dec. 9:</b> Paul Hariot, <i>Le Livre d’Or des Roses,</i> Paris, 1903. $800 to $1,200.
    <b>Swann, Dec. 9:</b> D. Miguel Geli, album of finely hand-drawn studies for nineteenth-century Spanish forts and military bunkers, circa 1830. $1,200 to $1,800.

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