Rare Book Monthly

Articles - September - 2007 Issue

What is More Expensive than a Collectible Book? -- The Outrageous Cost of College Textbooks

Textbooks

The price of textbooks is almost as outrageous as the cost of a college education.


By Michael Stillman

We received a press release from multi-site book searcher BookFinder.com that highlights one of the major cost issues with books these days. No, we are not talking about the high cost of antiquarian and other collectible books, luxuries rather than necessities for those who buy them. The issue is the outrageous cost of college textbooks students, often of limited means and already in hock up to their eyeballs, must pay for these course necessities. Necessity is not only the mother of invention, but the mother of price gouging. Price gouging is never pretty, be it at the gas pump or college bookstore, but is particularly ugly when targeted to items that are requirements for those who can ill afford them.

In the release, BookFinder's founder, Anirvan Chatterjee, is quoted as saying, "I can't believe how much students are having to pay this year." I can. I have two kids in college right now, and nothing surprises me. Textbooks typically cost a student in the area of $1,000 per year. And trust me, these will never be collectible works, appreciating in value. I still have some of my old expensive college textbooks, and though they, like I, have become antiquarian, you still can't give these things away.

Textbooks have been able to ride along on the coattails of the outrageous cost of a college education today. When colleges can charge upwards of $40,000 a year, and even state schools when all costs are factored in go well into five digits, textbooks can come across as an afterthought. It is like buying a refrigerator when you buy a new house. Having just spent a couple hundred grand for a home, the $1,000 for a new refrigerator seems almost irrelevant. Of course if you buy a refrigerator a few months later, you will pay close attention to the price, and carefully shop around for something less costly. However, if they can catch you at the moment you buy the house, the difference between the $300,000 house and the $301,000 house and refrigerator seems trivial. So it seems with the $40,000 education, or the $41,000 education with books. Who even notices the difference between being $100,000 or $104,000 in debt when you graduate? Either way it's hopeless.

However, just as something is going to have to give with college costs, so too will it have to give with textbooks. Education cannot be a privilege of the privileged, and we cannot go on saddling young people just starting their working lives with mountains of debt. We did not do this in the past; we certainly should not be doing it now when we have a wealthier nation. No animal in the animal kingdom expects its young to repay the previous generation for teaching it the skills it needs to survive, except for the human animal, American edition in particular. The young bird is not expected to return thousands of worms to the bird bank for being taught how to fly, yet humans persist in imposing this bird-brained idea on their young.

Rare Book Monthly

  • <center><b>Bonhams<br>Fine Books and Manuscripts<br>New York | June 11, 2019</b>
    <b>Bonhams, Jun 11:</b> Faulkner, William. <i>The Sound and the Fury.</i> New York: Jonathan Cape, [1929]. First edition in dust jacket. $4,000 to $6,000
    <b>Bonhams, Jun 11:</b> Trautz-Bauzonnet bindery. Shakespeare, William. Sonnets. 1901. 2 volumes. Printed on vellum and illuminated by Ross Turner. $8,000 to $12,000
    <b>Bonhams, Jun 11:</b> Thompson, Kay. <i>Eloise at Christmastime.</i> New York: Random House, [1958]. First edition. In custom binding by Asprey. $800 to $1,200
    <center><b>Bonhams<br>Fine Books and Manuscripts<br>New York | June 11, 2019</b>
    <b>Bonhams, Jun 11:</b> Beardsley, Aubrey. <i>The Birth, Life, and Acts of King Arthur.</i> 1893-94. 2 volumes. Contemporary painted vellum gilt by Chivers. $2,000 to $3,000
    <b>Bonhams, Jun 11:</b> Assisi, St. Francis. <i>The Canticle of Brother Sun.</i> Illuminated on vellum, for the Grolier Society. $6,000 to $9,000
    <b>Bonhams, Jun 11:</b> Taylor, Deems. <i>Walt Disney’s Fantasia.</i> New York: 1940. In custom binding by Asprey. $2,000 to $3,000
  • <b>Swann Auction Galleries May 14:</b> William Shakespeare, <i>Shakespeare’s Sonnets, In Two Parts,</i> limited Saint Dunstan edition, Oxford University Press, 1901. $6,000 to $9,000.
    <b>Swann Auction Galleries May 14:</b> Benjamin Graham & David L. Dodd, <i>Security Analysis,</i> first edition, inscribed by Graham to a Wall Street trader, NY, 1934. $18,000 to $25,000.
    <b>Swann Auction Galleries May 14:</b><br>Ian Fleming, <i>Goldfinger,</i> first edition, inscribed to Sir Henry Cotton, MBE, London, 1959. $12,000 to $18,000.
    <b>Swann Auction Galleries May 14:</b><br>Ian Fleming, <i>The Man with the Golden Gun,</i> first edition, first state with the dust jacket, London, 1965. $6,000 to $9,000.
    <b>Swann Auction Galleries May 14:</b> Virginia Woolf, <i>The Voyage Out,</i> first American edition of the author’s first book, in rare dust jacket, NY, 1920. $2,000 to $3,000.
    <b>Swann Auction Galleries May 14:</b> Gabriel García Márquez, <i>Cien años de soledad,</i> Buenos Aires, 1967. $2,000 to $3,000.
    <b>Swann Auction Galleries May 14:</b> Mary Mapes Dodge, <i>Along the Way,</i> first edition, author’s copy, annotated in her hand, NY, 1879. $1,800 to $2,500.
    <b>Swann Auction Galleries May 14:</b> <i>The Dial: A Monthly Magazine for Literature, Philosophy and Religion,</i> first edition, Ralph Waldo Emerson’s copy, Cincinnati, 1860. $2,500 to $3,500.
    <b>Swann Auction Galleries May 14:</b> Gaston Leroux, <i>The Phantom of the Opera,</i> first American edition, first printing, New York, 1911. $12,000 to $18,000.
    <b>Swann Auction Galleries May 14:</b> Walt Whitman, <i>Leaves of Grass,</i> signed, Camden, 1876. $4,000 to $6,000.
  • <b>Leslie Hindman Auctioneers: Fine Books and Manuscripts. May 1, 2019</b>
    <b>Leslie Hindman, May 1:</b> WRIGHT, Wilbur -- WRIGHT, Orville. Photograph signed. 128 x 177 mm, black and white. Taken for Collier's Weekly by James H. ("Jimmy") Hare. $8,000 to $12,000
    <b>Leslie Hindman, May 1:</b> WRIGHT, Wilbur -- WRIGHT, Orville. Typed document signed, New York, NY, 18 November 1909. A founding document in the history of aviation: the certificate of incorporation for the Wright Company. $20,000 to $30,000
    <b>Leslie Hindman, May 1:</b> LINCOLN, Mary Todd. Personal monogrammed handkerchief. Square linen handkerchief, silk border, "ML" monogram to one corner, 11 1/8 x 11 1/4 in. $1,000 to $1,500
    <b>Leslie Hindman Auctioneers: Fine Books and Manuscripts. May 1, 2019</b>
    <b>Leslie Hindman, May 1:</b> TRUMAN, Harry S. Broadside signed, as President, 8 May 1945. Truman's V-E Day proclamation. $4,000 to $6,000
    <b>Leslie Hindman, May 1:</b> WASHINGTON, Martha Dandridge Custis, First Lady. Autograph free frank signed on integral cover sheet. One of four surviving free franks by Martha Washington. $30,000 to $40,000
    <b>Leslie Hindman, May 1:</b> DALI, Salvador, illustrator. -- DODGSON, Charles Lutwidge. <i>Alice in Wonderland.</i> New York: W.U.C.U.A. and Maecenas Press - Random House, 1969. Limited edition, signed by Dali. $3,000 to $4,000
    <b>Leslie Hindman Auctioneers: Fine Books and Manuscripts. May 1, 2019</b>
    <b>Leslie Hindman, May 1:</b> CHURCHILL, Winston Spencer. <i>Lord Randolph Churchill.</i> London: Macmillan and Co., 1906. First edition, presentation copy to his valet, inscribed. $5,000 to $7,000
    <b>Leslie Hindman, May 1:</b> DICKENS, Charles. <i>Great Expectations.</i> London: Chapman and Hall, 1861. First edition, 3 vols. Vol. I second issue, vol. II first issue, vol. III third issue. $4,000 to $6,000
    <b>Leslie Hindman, May 1:</b> DODGSON, Charles Lutwidge ("Lewis Carroll"). <i>Sylvie and Bruno. -Sylvie and Bruno Concluded.</i> London: Macmillan, 1889, 1893. First editions, inscribed presentation copies. 2 works in 2 vols. $1,000 to $1,500
    <b>Leslie Hindman Auctioneers: Fine Books and Manuscripts. May 1, 2019</b>
    <b>Leslie Hindman, May 1:</b> KEULEN, Gerard van. <i>Nieuwe Wassende Graaden Paskaart Vertoonende alle de Bekende Zeekusten en…</i> [Amsterdam, ca 1720]. Important 18th century world map depicting California as an island. $6,000 to $8,000
    <b>Leslie Hindman, May 1:</b> ALHAZEN [Abu 'Ali al-Hasan ibn al-Hasan ibn al-Haytham]. <i>Opticae thesaurus.</i> Translated from Arabic into Latin. First edition of Alhazen’s classic work on optics and vision. $18,000 to $25,000
    <b>Leslie Hindman, May 1:</b> GALILEI, Galileo. <i>Systema cosmicum... in quo quatuor dialogis…</i> Translated from Italian by Matthias Bernegger. Strasbourg: D. Hauttius for the Elzevirs [at Leiden], 1635. First Latin edition. $6,000 to $8,000

Article Search

Archived Articles

Ask Questions