The World is Still Changing: Tradition and Technology in the Rare Book Trade

Book fairs have long played an important role in the rare book field. We date the beginning of printing with Gutenberg’s invention of the printing press circa 1450. Less known is the first book fair was the Frankfurt Book Fair in 1462. In 1564 the first book fair catalogue (Messkatalog) provided an organized listing of show material. In America Mathew Carey organized the first Literary Fair in New York in 1802.

With the emergence of literacy, the development of faster presses and pulped paper in the 19th century, collectable paper became a more widely followed field. Auctions and dealers made scale possible. After WWII, ILAB and soon after, the ABAA established standards. Soon after, their book fairs became significant events for both buyers and sellers.

From the early 19th century, auctions provided wholesale functionality for dealers. Late in the 20th century, auctions entered the retail market.

By 2000, the field was already transitioning to rely on aggregated listing sites that made it quickly obvious what was rare and valuable. Agreement as to fair value was left to sellers to post their prices. It encouraged higher prices, that encouraged more sellers to list. Soon it became apparent when the number of equal or better copies posted reached 6, it stalled sales, opening the door wide for auction houses to break the logjam. Overpriced online listings became the ticket to their success. Last year almost 4,000 collectible paper auctions sold more than $1.230 billion dollars of this material (all documented on Rare Book Hub).

Now the field is adjusting to a new reality. eCatalogues (for dealers, collectors and institutions) are starting to function like auction catalogues. If their material is described well, illustrated with images, and priced correctly, the material flies out the door. If inappropriately priced, well, they’ll continue to be available until their eCatalogues disappear. One way or the other the market learns. For Rare Book Hub’s paid subscribers it is a free additional service for them. Think of it as a quasi-auction format. The world is changing.

And how do shows fit in? Book fairs have always enjoyed a traditional book-oriented following. With the surge of interest in ephemera, person to person events is an ideal way to introduce and educate new and casual collectors. For those fresh to the scene, collectible paper is a surprisingly accessible game where their initially limited funds can be converted into many interesting examples. Equally important for dealers, these new client’s interest in ephemera will encourage their futures. The book field has long been a strong magnet for those who love history and paper. Ephemera will soon be the drug of choice.

For new collectors, book fairs that encourage ephemera deserve a much larger audience. For the fresh faces, it’s at the fairs they will see the players, and then go home thinking, I can be one of them. It’s the future of collectible paper.

The world changes.