• <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.
  • <center><b>Gonnelli<br>Auction 41<br>Books, Autographs & Manuscripts<br>March 21st-23rd 2023</b>
    <b>Gonnelli:</b> Nabokov, <i>Lolita,</i> 1955. First edition, mint copy. Starting price 1900€
    <b>Gonnelli:</b> Marinetti, <i>Zang Tumb Tuuum,</i> 1914. First edition. Starting price 1600€
    <b>Gonnelli:</b> A collection of <i>Playboy,</i> starting price from 20€
    <b>Gonnelli:</b> Kepler, <i>Dioptrice,</i> 1611. First edition. Starting price 9500€
    <b>Gonnelli:</b> Barbault, <i>Les plus beaux Monuments de Rome,</i> 1761-1766. Starting price 5500€
    <b>Gonnelli:</b> Watson, <i>Dendrologia Britannica,</i> 1825. Starting price 380€

Rare Book Monthly

Articles - August - 2022 Issue

Consolidation and the Mid-Range Auction Market

9294e268-0acd-41bc-bcb9-916a3b78379d

Spencer Stuart, collections advisor

At the end of June, Bonhams continued its ‘roll up’ strategy with the acquisition of the Paris-based auction house Cornette de Saint Cyr as forecast in “What Are They Building in There?: Bonhams in March” [https://www.rarebookhub.com/articles/3172]. The newly acquired house also has a salesroom in Brussels furthering Bonhams’ objective, funded by Espiris, to create a global network of regional auction houses focused on the ‘middle market’.

 

How does this relate to the rare book and ephemera markets? Why should collector take notice? Keeping in mind the two divergent models of auction event profitability that are further establishing themselves with in the Post-Pandemic auction industry [https://www.rarebookhub.com/articles/3153], Bonhams is making moves to consolidate the sub $1 million dollar auction market of which books, manuscripts, prints and photography make up a considerable share.

 

The week following Bonhams announcement, for the first time, a specialist formerly of a major auction house announced to a bibliophilic Listserv an upcoming sale for Catawiki were the items on offer were a fraction of what this specialist previously handled.

 

Seemingly independent events, however, these two models of development will meet in the middle market (build up vs. buy out). As outlined in “Where are we going from here?” [https://rarebookhub.com/articles/3044], venture capital funded online auction platforms have the advantage of lower operating costs and an ‘Outsider’ position which has them less beholden to conventions. This aligns with their requirement to run a full schedule of sales featuring a high number of lots in order to remain profitable. The risk in this strategy of many low value items is that it impacts the legitimacy of the platform within the Auction Industry as a whole. In order to participate in the more rare/valuable items it will require a concerted effort to establish trust and legitimacy with both consignors and bidders, hence the hiring of established specialists from brick-and-mortar houses.

 

For brick-and-mortar houses, such as Bonhams, who find themselves unable to participate in the few, high-spot auction event model, however unable to adopt the many, low estimate auction event, consolidation of the remaining middle market brick-and mortar auction houses is the most viable strategy moving forward. Based on Bonhams' infrastructure as well as organizational structure, they will not be able to compete on the digital marketing front as their cost/revenue dollar is too high. Instead, they will rely on the established base of regional auction houses and work from there to provide wrap around services for consignors and bidders alike.

 

In the case of Bonhams, and there will be more in the coming years, their acquisition of four competitors in half a year has them presenting as an entirely different organization. When acquired by Espiris in 2018, Bonhams online sales accounted for around 10% of total sales, now in 2022, it is 50%. That is a huge transformation in where revenues are coming from. Further growth can be observed in their client list, which has increased by 3 times since 2019 and in 2021 alone saw the firm’s transactions consist of 49% net new clients to Bonhams. Again, this type of transformation in the size and growth rate of a client base has the potential to be highly impactful. Especially impressive is the addition of almost 50% in net new clients to the House. Finally, in reviewing last year, intercontinental clients increased by 71% as reported by Bonhams CEO, Bruno Vinciguerra.

 

Looking in the mirror these days, Bonhams might be unrecognizable to itself. The challenge moving forward will be whether the House will be able to retain and grow these inherited clients while acquiring more and growing them as well.

 

For collectors observing these developments and trying to parse its impact on their participation in the Auction industry as a consignor or bidder, it will be Important to see what both online platforms and consolidating auction house do with the data they are accumulating. Will auction results remain open and listed through 3rd party aggregators such as Rare Book Hub, or will it become proprietary requiring the public to establish an account with the House.

 

***

 

Spencer W Stuart is a collections advisor and writer on collecting, book history and the auction industry. The above article is a continuation of his ongoing AUCTION INDUSTRY OUTLOOK series [http://spencerwstuart.ca/aio/] and is an edited version of a chapter in his forthcoming book Contemporary Issues in Rare Book and Manuscript Collecting due out Autumn 2022.

 

For more information on the publication, contact: spencerwstuart@gmail.com

 

Source:

https://news.artnet.com/market/bonhams-acquires-fourth-auction-house-this-year-2137058

 

Rare Book Monthly

  • <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.
  • <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.

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