If you were pleased with the results of sales in the books and paper field at auction in 2021, you should be happy with those for 2022 as well. It was almost a carbon copy. When we reported these results last year, there had been a large increase in the median price and the number of lots offered. Prices had gained by 8.8%, lots offered by 22%. This time, the price increase was under 1% while the number lots offered declined slightly, by 1.6%. Since the previous year had smashed all records for prices and lots offered, 2022 was another very good year from a historical perspective.
The sell through rate also declined slightly, from 82% to 81%. This, too, is a high number by historical standards.
When all is added up, the total sales revenue came to $1.057 billion. That was $100 million less than in 2021. That shortfall mainly came from a few very high priced items. Almost half was attributed to the single $43 million sale of a first printing of the U. S. Constitution in 2021.
Interestingly, median sales prices declined during the first half of 2022. By summer, they were down 3%. However, prices rallied in the fall, leading to the small increase for the year. It will be interesting to see if the rising momentum continues into 2023.
For the second year in a row, over 50% of lots sold for over the high estimate, repeating 2021's 51%. That was the first year over 50% since we have been tracking results. Only 15% sold under the low estimate, though 19% did not sell at all. That leaves 16% that sold within the estimated range or had none.
The fourth quarter is usually the busiest of the year. It was busy again in 2022, with 28.3% of the lots offered from October through December, but it was not the busiest. The second quarter exceeded it for only the second time since we have been tracking sales with 29.0% of lots offered. Next came the first quarter with 22.0% while the slowest was the third quarter with 20.7% The reason the third quarter was so slow was August, which accounted for only 4.7% of the lots offered. On the other end, May was busiest with 11.3% of lots.
The highest average order for houses with at least 100 lots sold in the field was Christie's London South Kensington at $41,350. Close behind was Sotheby's New York at $40,222. They were followed by Christie's New York – $33,464, Arader Galleries - $21,981, Sotheby's London - $21,230, Christie's London King Street - $20,941, Freeman's - $17,973, Bonhams Los Angeles - $15,496, Sotheby's Paris - $15,415, Sotheby's Cologne - $13,515, Christie's Paris - $10,245, Aguttes - $9,060, and Bonhams New York $8,454. At the other end, for those on a more limited budget, there were the Mennonite Life auctions at $43, EV Stamps (with numerous comic books) - $50, Purcell Auctioneers - $98, One Source Auctions $100, William H. Bunch Auctions - $101, Keys Fine Arts - $104, and Sydney Rare Book Auctions - $115. There is something for everyone's budget.
As for volume of lots offered, no one is even close to the number from Heritage Auctions of Dallas. They offered 211,073 lots in the field and sold 207,000 of them, 98%. Next came Catawiki with 15,982, Kiefer Buch – 15,683, RR Auction - 13,817, PBA Galleries – 12,624, Forum – 11,053, Trillium – 10,600, Vermot de Pas – 10,000, Bubb Kuyper 9,887, and Holabird Kagin Americana - $9,315.
At the high end, 3% of all lots sold for over $10,000, while at the low end, 18% sold for under $100.
Aste Bolaffi, June 17-18: Galileo Galilei. Dialogo sopra i due massimi sistemi del mondo tolemaico, e copernicano. Firenze, 1632
Aste Bolaffi, June 17-18: Saverio Manetti. Storia naturale degli uccelli. Firenze, 1771-76
Aste Bolaffi, June 17-18: Fortunato Depero. Depero futurista. Rovereto, 1927
Aste Bolaffi, June 17-18: Nicolas Visscher. Atlas minor sive totius orbis terrarum contracta delineat ex conatibus. Amsterdam, circa 1649-95
Aste Bolaffi, June 17-18: Andreas Vesalius. Anatomia. Addita nunc. Antiquorum Anatome. Venezia, 1604
Aste Bolaffi, June 17-18: Tristan Tzara and Salvador Dalì. Grains et Issues. Parigi, 1935
Bonhams, June 14-23: Franklin D. Roosevelt Presentation Gold Pocket Watch. Estimate: $20,000 - 30,000
Bonhams, June 14-23: Presentation Copy of the First Issue of the Lincoln Douglas Debates Signed by Abraham Lincoln in Pencil to a Sangamon County Illinois Republican. Estimate: $150,000 - 250,000
Bonhams, June 14-23: A Senate Resolution Signed in the Tense Days After the Union's Humiliating Defeat at the First Battle of Bull Run. Estimate: $80,000 - $120,000
Bonhams, June 14-23: Seven Passages to a Flight, an Artists Book with a Story Quilt by Faith Ringgold, the Publisher's Own Copy. Estimate: $80,000 - 120,000
Bonhams, June 14-23: A New Charter for Virginia, A Response to the First Armed Rebellion in the American Colonies. Estimate: $15,000 - 25,000
Bonhams, June 14-23: Earliest obtainable printing of the Bill of Rights. Estimate: $8,000 - 12,000
Bonhams, June 14-23: Edward Curtis Orotone. Estimate: $7,000 - 9,000
Bonhams, June 14-23: Owned by Jacqueline Kennedy Onassis: A Butter or Dessert Plate from FDR's State Dinner Service. Estimate: $3,000 - 5,000
Bonhams, June 14-23: An Early Large-Format Plan of the City of Washington. Estimate: $1,500 - 2,500
Bonhams, June 14-23: Containing the First Map to Name the Hudson River. Estimate: $20,000 - 30,000
Bonhams, June 14-23: America's First Major Novelist, a Complete Chapter in Autograph Manuscript by James Fenimore Cooper. Estimate: $15,000 - 20,000
Bonhams, June 14-23: The Only Full-Length Book by Jefferson, with the Justly Famous Map. Estimate: $12,000 - 18,000
June 25, 2026
Doyle, June 25: Houdini's biography, boldly signed. $3,000 to $5,000.
Doyle, June 25: A volume from Abraham Lincoln's library, signed just before heading to Washington for his inauguration. $20,000 to $30,000.
Doyle, June 25: A very early Confederate recruiting manual belonging to the chief commissary in Lee's Army. $600 to $800.
Doyle, June 25: Rare hand-colored lithographs of the life of Napoleon. $20,000 to $30,000.
Doyle, June 25: The "Holster Atlas" of the American Revolution. $5,000 to $8,000.
Doyle, June 25: Jewish ceremonies in fine hand-colored engravings. $7,000 to $10,000.
Doyle, June 25: A very rare work on Turkish military costume. $1,000 to $1,500.
June 25, 2026
Doyle, June 25: The most important illustrated work on the Mexican-American War. $10,000 to $15,000.
Doyle, June 25: The finest illustrated book on Afghanistan. $10,000 to $15,000.
Doyle, June 25: Henry Justice Ford St. George rescues the Princess from the horrible Dragon. $2,000 to $3,000.
Doyle, June 25: A rare work of Prussian Army uniforms under Frederick William II, with exquisite hand-colored engravings. $800 to $1,200.
Doyle, June 25: Lenny Bruce typed letter signed to a Village bohemian during his obscenity trials, with a manuscript note and drawing. $300 to $500.
Doyle, June 25: Schiff's scarce Shanghai Sketchbook. $300 to $500.
Doyle, June 25: The first accurate published representation of the American flag. $2,000 to $4,000.
Old World Auctions (June 17): Lot 123. Celebrate 250 Years of Independence with Original Stars and Stripes (1790) Est. $1,400 - $1,700
Old World Auctions (June 17): Lot 20. Keulen's Spectacular Chart of the World Featuring California as an Island (1728) Est. $12,000 - $15,000
Old World Auctions (June 17): Lot 42. Schedel's Ancient World Map with Fantastic Humanoid Creatures (1493) Est. $14,000 - $17,000
Old World Auctions (June 17): Lot 591. Matching Set of 3 Stunning Globe Gores of Eastern Asia from Coronelli's 3.5 Foot Globe (1688) Est. $5,500 - $7,000
Old World Auctions (June 17): Lot 9. Speed's Popular World Map with Allegorical Representations of the Elements (1651) Est. $14,000 - $17,000
Old World Auctions (June 17): Lot 168. First Separate Map of Kansas & Nebraska Territories (1854) Est. $5,500 - $7,000
Old World Auctions (June 17): Lot 43. Only Macrobius Map with Britain Attached to Europe (1515) Est. $800 - $950
Old World Auctions (June 17): Lot 250. Rare Map of Boston and One of the Earliest Maps of the Revolutionary War (1775) Est. $2,000 - $2,300
Old World Auctions (June 17): Lot 79. Schenk's Uncommon Map Featuring Two Figurative Title Cartouches (1696) Est. $1,200 - $1,500
Old World Auctions (June 17): Lot 681. Hand-Colored Image of the Annunciation to the Shepherds (1502) Est. $800 - $950
Sotheby's Book Week 2 June - 9 July
Sotheby’s, June 25: Smith, Adam. The Wealth of Nations, on its 250th anniversary. $180,000 to $250,000.
Sotheby’s, June 17: Fontana, Lucio. Concetto Spaziale. 1967. Leporello en papier doré. Bel exemplaire signé. €4,000 to $€,000.
Sotheby’s, June 25: Fitzgerald, F. Scott. "So we beat on, boats against the current, borne back ceaselessly into the past”. $150,000 to $200,000.
Sotheby’s, June 25: Washington, George (as First President). Washington decries “an ostentatious imitation, or mimickry of Royalty” in his Presidency. $250,000 to $500,000.
Sotheby’s, June 17: Lope de Vega. Rare manuscrit autographe signé de la préface dédicatoire de "El Cardenal de Belen" (le cardinal de Bethléem), pièce composée en 1610. €40,000 to €60,000.
