Caren at Potter & Potter - Not All Sales are Equal
- by Bruce E. McKinney
Paper is turning into gold!
Our report of Eric Caren’s ephemera sale recently conducted by Potter and Potter of Chicago makes dry reading until and unless you understand you’re seeing the changing of the guard in the collectible paper field. The rare book field has been skirmishing with paper collectible wannabes for two hundred years and the trade long preferred to handle easily understandable objects. It made sense and it made the field predictable for dealers, auction houses, institutions and collectors. To make markets there have always been a need for common understandings. For books, all sides were long in agreement.
As to ephemera, not so much. Dealers acquire material to sell and most of their energy goes into selling. For those who want to acquire, dealers provide an invaluable service. As to the basic research about emerging markets, the heavy lifting has been done by collectors and collecting institutions and in the case of paper ephemera, Eric C. Caren saw the opportunity fifty years ago, acquiring undescribed important and rare paper, believing he had the chops to organize a series of ephemera sales in the future. During the past decade, his and our futures have been arriving. Potter & Potter’s recent ephemera sale is his ninth and his sales have brought collectible paper into many collectors’ conversations.
Ephemera is very tricky and easily manipulated and it will take years before there will be enough transaction history for the casual observer to know fair value. But until then, you have Eric’s auctions as a masterclass to study and appreciate what the world of collectible paper is becoming.
I suggest you click on this link to read [or reread] his most recent sale. There are all kinds of paper you would not expect to see listed and sold at auction.
Here is a link to Eric’s recent sale at Potter & Potter: link
Forum Auctions Online: India Ends 19th February 2026
Forum, Feb. 19: Lot 40 Ramasvami (Kavali Venkata). A Digest of the Different Castes of India, 83 charming hand-coloured lithographed plates, Madras, 1837. £5,000-7,000
Forum, Feb. 19: Lot 50 Watson (John Forbes) & John William Kaye. The People of India: A Series of Photographic Illustrations...of the Races and Tribes of Hindustan, 8 vol., 480 mounted albumen prints, 1868-75. £4,000-6,000
Forum, Feb. 19: Lot 53 Afghanistan.- Elphinstone (Hon. Mountstuart). An Account of the Kingdom of Caubul, first edition, hand-coloured aquatint plates, a fine copy, 1815. £2,000-3,000
Forum, Feb. 19: Lot 57 [Album and Treatise on Hinduism], manuscript treatise on Hinduism in French, 31 watercolours of Hindu deities, Pondicherry, 1865. £3,000-4,000
Forum, Feb. 19: Lot 62 Allan (Capt. Alexander). Views in the Mysore Country,
[1794]. £2,000-3,000
Forum Auctions Online: India Ends 19th February 2026
Forum, Feb. 19: Lot 76 Bird (James). Historical Researches on the Origin and Principles of the Bauddha and Jaina Religions..., first edition, lithographed plates, Bombay, American Mission Press, 1847. £3,000-4,000
Forum, Feb. 19: Lot 100 Ceylon.- Daniell (Samuel). A Picturesque Illustration of the scenery, animals, and native inhabitants, of the Island of Ceylon: in twelve plates, 1808. £5,000-7,000
Forum, Feb. 19: Lot 123 D'Oyly (Charles). Behar Amateur Lithographic Scrap Book, lithographed throughout with title and 55 plates mounted on 43 paper leaves, [Patna], [1828]. £3,000-5,000
Forum, Feb. 19: Lot 139 Gandhi (known as Mahatma Gandhi,) Fine Autograph Letter signed to Jawaharlal Nehru, Sevagram, Wardha, 1942, emphasising the importance of education in rural communities. £10,000-15,000
Forum Auctions Online: India Ends 19th February 2026
Forum, Feb. 19: Lot 140 Gantz (John). Indian Microcosm, first edition, Madras, John Gantz & Son, 1827. £10,000-15,000
Forum, Feb. 19: Lot 146 Grierson (Sir George Abraham). Linguistic Survey of India, 11 vol. in 20, folding maps, original cloth, Calcutta, Superintendent Government Printing, 1903-28. £2,000-3,000
Forum, Feb. 19: Lot 195 Madras.- Fort St. George Gazette (The), No.276-331, pp.493-936 and Index to all of 1834 at end, modern half calf, Madras, 2nd July - 31st December 1834. £2,000-3,000
Forum, Feb. 19: Lot 205 Marshall (Sir John) and Alfred Foucher. The Monuments of Sanchi, 3 vol., first edition, 141 plates, most photogravure, [Calcutta], [1940]. £3,000-4,000
Il Ponte, Feb. 25-26: HAMILTON, Sir William (1730-1803) - Campi Phlegraei. Napoli: [Pietro Fabris], 1776, 1779. € 30.000 - 50.000
Il Ponte, Feb. 25-26: [MORTIER] - BLAEU, Joannes (1596-1673) - Het Nieuw Stede Boek van Italie. Amsterdam: Pieter Mortier, 1704-1705. € 15.000 - 25.000
Il Ponte, Feb. 25-26: TULLIO D'ALBISOLA (1899-1971) - Bruno MUNARI (1907-1998) - L'Anguria lirica (lungo poema passionale). Roma e Savona: Edizioni Futuriste di Poesia, senza data [ma 1933?]. € 20.000 - 30.000
Il Ponte, Feb. 25-26: IL MANOSCRITTO RITROVATO DI IPPOLITA MARIA SFORZA. TITO LIVIO - Ab Urbe Condita. Prima Decade. Manoscritto miniato su pergamena, metà XV secolo. € 280.000 - 350.000
Sotheby's Fine Books & Manuscripts Available for Immediate Purchase
Sotheby’s: Balthus, Emily Brontë. Wuthering Heights, New York: The Limited Editions Club, 1993. 6,600 USD.
Sotheby’s: Charles Dickens. Complete Works, Philadelphia & London: J.B. Lippincott Company & Chapman & Hall, LD, 1850. Limited Edition set of 30 volumes. 7,500 USD.
Sotheby’s: John Lennon, Yoko Ono. Handwritten Letter from John Lennon and Yoko Ono to their Chauffer. 1971. 32,500 USD.
Sotheby’s: Winston Churchill. First edition of War Speeches, Cassell and Company, Ltd., 1941. Set of 7 volumes. 5,500 USD.
Sotheby’s: Andy Warhol, Julia Warhola. Holy Cats First Edition, Signed by Andy Warhol. 1954. 30,000 USD.