Rare Book Monthly

Articles - February - 2022 Issue

Sales of Books and Paper at Auction Surpass $1 Billion for the First Time

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Going Up!

The good news kept getting better in 2021 in the rare book trade. 2020 had been a surprisingly good year, with prices of books and collectible paper at auction rising by 3.6%. 2021 was much better. This time prices rose 8.8%. This was based on the median, or midpoint of all lots sold during the year. While based on anecdotal comments booksellers did not participate in 2020's party, they did in 2021. Dealers' sales, unlike auctions, aren't public knowledge, but based on the upbeat comments we have heard, it sounds like the wealth has now been spread around. Covid may have lingered around another year, but the book trade seems to have developed immunity from its consequences.

 

The increase in prices was not based on a shortage of paper collectibles being offered. That number skyrocketed too. There were 636,853 lots offered, up from 521,422 in 2020, an increase of 22%. Lots sold rose from 430,544 to 521,461, an increase of 21%. The result was dollar volume of all sales increased from $725 million to $1.15 billion! That is by far a new record.

 

The sell through rate was also strong, with 82% of all lots offered being sold. That was down slightly from 83% the previous year, but it was still only the second time sell-through has exceeded 80% since we have been tracking sales in 2004.

 

In 2021, for the first time, over 50% of the lots sold for more than the highest estimated price. That number was 48% in 2020. Only 33% either sold under the low estimate or not at all. 17% sold within the range or did not have an estimated sales price. Prior to 2020, there were more lots selling either under the low estimate or not at all than over the high estimate. It is a sign that auction houses were not keeping up with the rise in prices when generating their estimated sales price.

 

In no surprise, the fourth quarter was again the busiest time of year. 30.5% of lots were offered in the fourth quarter, 27.7% in the second quarter, 22.2% in the third quarter, and 19.6% in the first quarter. The third quarter, summertime, has traditionally been the slowest time, but houses have been shifting more sales from the winter to summer months. Perhaps that is an aberration based on the intensity of the pandemic in the early months of the year. In a first, August was no longer the slowest month of the year. It constituted 5.9% of lots offered vs. only 5.7% in January. Ten years ago, only 5,213 lots were offered in August. Last year it was 37,459. So much for summer vacation.

 

The highest average price was reached at Christie's King Street – London location at $53,090. The previous year it was only $28,912 at Arader Galleries. Runner-up went to Sotheby's New York at $37,645. Next came Christie's New York at $26,889, Christie's Paris $25,775, Arader Galleries $20,681, Bonhams Los Angeles $17,223, Sotheby's London $14,812, and Freeman's $13,898. There was also plenty of material offered for those whose budgets are not in this range. Michael Treloar's auctions in Adelaide, Australia, averaged $51 per lot, Pot of Gold Liquidations $56, and the Mennonite Historical Society $70. There are lots of great deals for new collectors looking to get a toe in the water.

 

Once again, the runaway leader in lots offered was Heritage Auctions of Dallas, offering 218,619 in the category. Next was Catawiki with 20,935, RR Auction 14,990, Kiefer 13,464, and PBA San Francisco 11,721. Others offering over 10,000 lots in the category were Forum Auctions, Holabird Kagin Americana, Mirabaud-Mercier, Bubb Kuyper, and Trillium.

Rare Book Monthly

  • <b><center>Koller Auctions<br>Books & Autographs<br>29 March 2023</b>
    <b>Koller, Mar. 29:</b> DADA - <i>Cabaret Voltaire.</i> A collection of artistic and literary contributions. Edited by Hugo Ball. CHF 5,000 to 8,000.
    <b>Koller, Mar. 29:</b> EXPRESSIONISM - <i>Der Sturm.</i> Weekly magazine for culture and the arts. Almost complete suite from the years 1910 to 1932. CHF 20,000 to 30,000.
    <b>Koller, Mar. 29:</b> LISBON EARTHQUAKE - <i>Augsburg collection of copper engravings of Lisbon. CHF 40,000 to 60,000.
    <b>Koller, Mar. 29:</b> Hamilton, William. <i>Campi Phlegraei. Observations on the Volcanos of the Two Sicilies as they have been communicated to the Royal Society of London.</i> Naples, 1776-1779. CHF 50,000 to 70,000.
    <b><center>Koller Auctions<br>Books & Autographs<br>29 March 2023</b>
    <b>Koller, Mar. 29:</b> Leonardi, Domenico Felice. <i>Le Delizie della villa di Castellazzo descritte in verso dall'abbate Domenico Felice Leonardi lucchese fra gli Arcadi Ildosio Foloetico.</i> Milan, 1743. CHF 12,000 to 18,000.
    <b>Koller, Mar. 29:</b> Zwingli, Huldrych. <i>Von erkiesen und freyhait der speisen. Von ergernusz und Verbößerung. Ob man gewalt hab die speyß zu etlichen zeyten verbieten [...]</i>. CHF 2,500 to 4,000.
    <b>Koller, Mar. 29:</b> HENDRIK VAN VULLENHOE, UMKREIS. Benedictional and other texts for Johannes von Venningen, Bishop of Basel. Latin manuscript on parchment. CHF 50,000 to 80,000.
    <b>Koller, Mar. 29:</b> Gujer, Hans Rudolf. Master typist's book by Hans Rudolf Gujer from Wermetschweil (Wermatswil). German manuscript on paper. CHF 3,000 to 5,000.
  • <b><center>Stargardt Autographenhandlung<br>Autographs: Literature, Music, Art, Science, History, Theatre & Film<br>March 28, 2023</b>
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Johann Wolfgang von Goethe: Autograph album leaf signed, 1826. €9,000 to €12,000.
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Franz Kafka: Autograph letter unsigned, 1924. €15,000 to €20,000.
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Torquato Tasso: Autograph poem signed, no date. €12,000 to €16,000.
    <b><center>Stargardt Autographenhandlung<br>Autographs: Literature, Music, Art, Science, History, Theatre & Film<br>March 28, 2023</b>
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Charles Darwin: Autograph letter signed, 1866. €4,500 to €6,000.
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Albert Einstein: Autograph letter signed, 1933. €6,000 to €8,000.
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Heinrich Hertz: Autograph manuscript signed, 1889. €18,000 to €24,000.
    <b><center>Stargardt Autographenhandlung<br>Autographs: Literature, Music, Art, Science, History, Theatre & Film<br>March 28, 2023</b>
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Giambattista Bodoni: Autograph letter signed, 1787. €900 to €1,200.
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Francisco de Goya: Autograph letter signed, 1789. €18,750 to €25,000.
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Martin Luther: Notes from his desk, no date. €30,000 to €40,000.
    <b><center>Stargardt Autographenhandlung<br>Autographs: Literature, Music, Art, Science, History, Theatre & Film<br>March 28, 2023</b>
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Ludwig van Beethoven: Autograph letter signed, 1816. €22,500 to €30,000.
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Gustav Mahler: Foto portrait signed and annotated, 1907(?). €7,500 to €10,000.
    <b>Stargardt Autographenhandlung, Mar. 28:</b> Bed?ich Smetana: Autograph letter signed, 1883. €4,500 to €6,000.
  • <center><b>Forum Auctions<br>Fine Books, Manuscripts and Works on Paper<br>30th March 2023</b>
    <b>Forum, Mar. 30:</b> Roman binding.- Pindar. <i>Olympia, Pythia, Nemea, Isthmia,</i> translated by Johannes Lonicer, contemporary Roman binding by Niccolo Franzese, Basel, 1535. £40,000 to £60,000.
    <b>Forum, Mar. 30:</b> Raverat (Gwen). Comprehensive album of 530 wood engravings, circa 1909-1950. £40,000 to £60,000.
    <b>Forum, Mar. 30:</b> Hemingway (Ernest). <i>Fiesta,</i> first English edition, first impression dust-jacket, 1927. £15,000 to £20,000.
    <center><b>Forum Auctions<br>Fine Books, Manuscripts and Works on Paper<br>30th March 2023</b>
    <b>Forum, Mar. 30:</b> Fleming (Ian). <i>Casino Royale,</i> first edition, first impression, 1953. £12,000 to £18,000.
    <b>Forum, Mar. 30:</b> Dickens (Charles). <i>Great Expectations,</i> 3 vol., first edition, first impression, Chapman and Hall, 1861. £10,000 to £15,000.
    <b>Forum, Mar. 30:</b> Campbell (Colen) & others. <i>Vitruvius Britannicus, or The British Architect...,</i> 5 vol., vol.1-3 later editions, vol.4 & 5 first editions, [?1731]-31-67-71. £10,000 to £15,000.
    <center><b>Forum Auctions<br>Fine Books, Manuscripts and Works on Paper<br>30th March 2023</b>
    <b>Forum, Mar. 30:</b> Geography.- Mela (Pomponius). <i>Cosmographia, sive De situ orbis,</i> Venice, Franciscus Renner de Heilbronn, 1478. £8,000 to £12,000.
    <b>Forum, Mar. 30:</b> America.- [?Espinosa y Tello (José)]. <i>Relacion del Viage hecho por las Goletas Sutil y Mexicana en el Año de 1792,</i> 2 vol. including Atlas, first edition, Madrid, 1802. £8,000 to £12,000.
    <b>Forum, Mar. 30:</b> Australasia.- Péron (Francois) and Louis-Claude de Saulces de Freycinet. <i>Voyage de Découvertes aux Terres Australes,</i> 5 vol. including Atlas, second edition, Paris, 1824. £8,000 to £12,000.
    <center><b>Forum Auctions<br>Fine Books, Manuscripts and Works on Paper<br>30th March 2023</b>
    <b>Forum, Mar. 30:</b> Botany.- Curtis (William). <i>The Botanical Magazine; or, Flower-Garden Displayed,</i> 83 vol. in 62, 1794-1956. £8,000 to £12,000.
    <b>Forum, Mar. 30:</b> Darwin (Charles).- Lecky (W.E.H.) <i>The Rise and Influence of Rationalism in Europe,</i> 2 vol., Darwin's copy with inscription "Charles Darwin 1865", pencil marginalia and pencil notes, 1865. £7,000 to £10,000.
  • <b><center>Swann Auction Galleries<br>Printed & Manuscript African Americana:<br>March 30, 2023</b>
    <b>Swann March 30:</b> Victor H. Green, <i>The Negro Motorist Green Book,</i> New York, 1949. $10,000 to $15,000.
    <b>Swann March 30:</b> Papers of pianist-composer Lawrence Brown relating to Paul Robeson & more, various places, 1925-54. $5,000 to $7,500.
    <b>Swann March 30:</b> Freedom Summer archive of civil rights activist Karen Haberman Trusty, Atlanta & elsewhere, 1963-64. $5,000 to $7,500.
    <b>Swann March 30:</b> E. Simms Campbell, <i>A Night-Club Map of Harlem,</i> New York, 1933. $8,000 to $12,000.
    <b>Swann March 30:</b> Archive of letters from the sculptor Richmond Barthé to a close Jamaican friend, various places, 1966-85. $25,000 to $35,000.

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