• <center><b>Sotheby’s<br>Fine Books and Manuscripts<br>Including the Eric C. Caren Collection Part 8<br>Online July 6 - 21, 2020</b>
    <b>Sotheby’s, Jul. 6 to 21:</b> Albert Einstein, typed letter signed, explaining the nature of his personal atheism and belief in God. $70,000 to $100,000.
    <b>Sotheby’s, Jul. 6 to 21:</b> George Washington. Autograph letter signed to Bryan Fairfax, looking forward to the Treaty of Paris, 5 February 1783. $60,000 to $80,000.
    <b>Sotheby’s, Jul. 6 to 21:</b> Alfred Swaine Taylor. Early “photogenic drawing,” photograph of a fern, dated 2 December 1839. $10,000 to $15,000.
    <center><b>Sotheby’s<br>Fine Books and Manuscripts<br>Including the Eric C. Caren Collection Part 8<br>Online July 6 - 21, 2020</b>
    <b>Sotheby’s, Jul. 6 to 21:</b> "Departure of Mr. Lincoln—Parting Address" in the <i>Weekly Illinois State Journal,</i> Vol. XXX, No. 1541, Springfield, February 13, 1861. $4,000 to $6,000
    <b>Sotheby’s, Jul. 6 to 21:</b> Benjamin Harrison document signed certifying the service of Daniel Cumbo, a black Revolutionary soldier. $10,000 to $15,000.
    <b>Sotheby’s, Jul. 6 to 21:</b> Front page printing of the Articles of Confederation in the <i>New-Jersey Gazette,</i> Vol. 1, No. 22. Trenton, April 29, 1778. $4,000 to $6,000.
    <center><b>Sotheby’s<br>Fine Books and Manuscripts<br>Including the Eric C. Caren Collection Part 8<br>Online July 6 - 21, 2020</b>
    <b>Sotheby’s, Jul. 6 to 21:</b> George Washington Funeral Procession Broadside. Boston, January 6, 1800. $5,000 to $7,000.
    <b>Sotheby’s, Jul. 6 to 21:</b> Philippe Laroque, printed score for “The Heroe of New Orleans Battle.” Philadelphia, 1815. $3,000 to $5,000.
    <b>Sotheby’s, Jul. 6 to 21:</b> Report of the Battle of Queenston Heights, the first major battle in the War of 1812, in <i>Supplement to the Quebec Gazette,</i> 24th October 1812. $2,000 to $3,000.
    <center><b>Sotheby’s<br>Fine Books and Manuscripts<br>Including the Eric C. Caren Collection Part 8<br>Online July 6 - 21, 2020</b>
    <b>Sotheby’s, Jul. 6 to 21:</b> His Majesty's Most Gracious Speech to both Houses of Parliament, On Tuesday the Eighteenth Day of November, 1760. London, 1760. $2,000 to $3,000.
    <b>Sotheby’s, Jul. 6 to 21:</b> Elegy on the Death of James Lawrence, Esq. late Commander of the U.S. Frigate Chesapeake. [Boston]: A. Bowen, 1813. $2,000 to $3,000.
    <b>Sotheby’s, Jul. 6 to 21:</b> Benjamin Lincoln's Commission as Major General, signed by John Hancock, 19 February 1777. $30,000 to $50,000.
  • <b>Swann Auction Galleries July 9:</b><br>John James Audubon, <i>Great Blue Heron,</i> hand-colored aquatint and engraved plate, 1834. $40,000 to $60,000.
    <b>Swann Auction Galleries July 9:</b> Joshua Fry & Peter Jefferson, <i>A Map of the Most Inhabited Part of Virginia,</i> Dalrymple edition, 1755. $12,000 to $18,000.
    <b>Swann Auction Galleries July 9:</b><br>John James Audubon, <i>The Birds of America,</i> sign & inscribed to Brantz Mayer, 1840-44. $18,000 to $22,000.
    <b>Swann Auction Galleries July 9:</b> Vincenzo Maria Coronelli & Jean Baptiste Nolin, Paris, 1688. $7,000 to $10,000.
    <b>Swann Auction Galleries July 9:</b> Henri Abraham Chatelain, <i>Atlas Historique,</i> 7 volumes, Amsterdam, 1705-1720. $15,000 to $20,000.
    <b>Swann Auction Galleries July 9:</b> Johann Baptist Homann, <i>Atlas Mapparum Geographicarum...,</i> Nuremberg, circa 1750s. $12,000 to $15,000.
    <b>Swann Auction Galleries July 9:</b> Lowell Mason, <i>Musical Exercises for Singing Schools,</i> Boston, 1838. $1,500 to $2,500.
    <b>Swann Auction Galleries July 9:</b> Alexander Wilson, <i>American Ornithology,</i> 9 volumes, Philadelphia, 1808-14. $6,000 to $9,000.
  • <center><b>Case Antiques<br>Two-Day Summer Sale<br>July 11 & 12, 2020</b>
    <b>Case Antiques, Jul. 11 – 12:</b> Very scarce autograph letter, signed, by Emily Tennessee Donelson, wife of Andrew Jackson Donelson, who served as First Lady / White House Hostess to President Andrew Jackson from 1828 to about 1834. $1,000 to $1,200.
    <b>Case Antiques, Jul. 11 – 12:</b> Thirteen Edward Wells maps plus title page from his rare atlas, A NEW SET OF MAPS BOTH OF ANCIENT AND PRESENT GEOGRAPHY. $600 to $700.
    <b>Case Antiques, Jul. 11 – 12:</b> L.B. Folger and C. Kallenback: MEMPHIS - BIRD'S EYE VIEW - SUPPLEMENT TO THE APPEAL. Scarce lithograph on paper. $800 to $1,200.
    <center><b>Case Antiques<br>Two-Day Summer Sale<br>July 11 & 12, 2020</b>
    <b>Case Antiques, Jul. 11 – 12:</b> Large NASA-Space Race era archive of material related to Colonel Michael J. Vaccaro, director of administration of the Marshall Space Flight Center of Huntsville, Alabama. $800 to $1,200.
    <b>Case Antiques, Jul. 11 – 12:</b> 1836 slavery related document signed by President Andrew Jackson, Andrew Jackson Jr., and Andrew Jackson Donelson. $800 to $1,100.
    <b>Case Antiques, Jul. 11 – 12:</b> Roger Sherman Signed CT Land Grant, 1757. $600 to $700.
    <center><b>Case Antiques<br>Two-Day Summer Sale<br>July 11 & 12, 2020</b>
    <b>Case Antiques, Jul. 11 – 12:</b> Letter archive related to the Randolph family of Virginia, including Mr. and Mrs. Thomas Jefferson Randolph, Lewis Meriwether Randolph – the grandson of President Jefferson. $400 to $500.
    <b>Case Antiques, Jul. 11 – 12:</b> Louisiana, as formerly claimed by France, now containing part of British America to the East in Spanish America to the West of Mississippi map, by Thomas Kitchin, 1765. $400 to $450.
    <b>Case Antiques, Jul. 11 – 12:</b> Andrew Jackson manuscript document, unsigned, containing notes on several Tennessee legal cases, including one regarding a slave, circa 1790-96. $350 to $450.
    <center><b>Case Antiques<br>Two-Day Summer Sale<br>July 11 & 12, 2020</b>
    <b>Case Antiques, Jul. 11 – 12:</b> VA Civil War Photo, Alexander Gardner – Timothy O'Sullivan. $400 to $450.
    <b>Case Antiques, Jul. 11 – 12:</b> Military Archive, WWI/WWII French Soldier Paul Didier. $400 to $450.
    <b>Case Antiques, Jul. 11 – 12:</b> Early Virginia Map, B. Tanner, J. Reid, 1796. $300 to $400.

Rare Book Monthly

Articles - February - 2009 Issue

Book Prices Plunged Over 20% in 2008

Hammer

Auction prices for books slipped in 2008.


By Michael Stillman


Book prices at auction tumbled sharply in 2008, as the collectible book market fell victim to the steep economic recession. While sales prices, as opposed to listing prices, tend to be obscure for want of a clear, visible record, AE tracked over 220,000 books and related items at auction last year for its AE Bibliographic Database. Those numbers reveal that the median price at auction dropped over $100, from $486 to $384, a decline of 21%. Part of this was a give back of the previous year's 15% increase. Nevertheless, this is the lowest number in the five years AE has been tracking books at auction, still 7% below the previous low mark of $413 in 2004. While that may sound shocking, The S&P stock index fell to ten-year lows in 2008, and even gasoline retreated to 2003 levels. Books are not as volatile as stocks, oil, or real estate, but they are not immune to market conditions, even if this point is not always so plain to see.

The average price at auction dropped a staggering amount - $887 - from the previous year. However, the average price can be skewed by a few very expensive items. The $21.3 million Magna Carta alone added over $100 to the average price in 2007. The median, or midpoint price of 220,000 items tracked, is not subject to such anomalies and, we believe, more accurately reflects the true state of the market.

While the AE does not have sufficient data from years prior to 2004 to provide specific figures, the past two declines in pricing appeared at the beginning of this decade and the previous one. Those corresponded with the post-internet bubble stock crash and the recession that doomed the first Bush administration. There were others before this, and it appears that some of these may have been in the range of the 20% decline we have just seen. If the market flattens out now, the current recession in the book market will be unpleasant but not that unusual. However, if prices continue to fall in 2009, and the trends through December indicate continued deterioration, it is possible we could see the largest decline since the Great Depression. Our records indicate a decline of over 50% at that time.

Sell through rates also implied softness in the market. That rate was 75% in 2007, and between 2004 and 2007 ranged from 74% to 76%. For 2008, it dropped to 71%. Of those that sold, 47% went for over the high estimate, 29% under the low estimate. That represents a 2% shift downward from the prior year's 49%-27% ratio. When unsold items are added to those sold under the low estimate, it shows that almost 50% of the books and related items offered at auction failed to achieve their low estimate. That number was 45% the previous year. Only 33% of all items offered sold for over the maximum, compared to 37% in 2007.

The highest median and average sales were once again achieved at Sotheby's in New York, with a median of $15,000 and an average of $40,782. Those figures were virtually identical to the previous year, but the number of lots offered was less than half. Sixteen houses achieved medians of over $1,000 per lot, including 4 branches of Christie's and Bonham's, 3 of Sotheby's, and one each of Koller, Bloomsbury, Doyle, Swann, and Artcurial Briest. Of these 16, half were located in America (6 in New York, one each in Los Angeles and San Francisco), 4 in London, 3 in Paris, 1 in Zurich. Kiefer auctions of Germany offered the greatest number of lots - 18,790 - while others offering over 10,000 lots were Bloomsbury in London, Bubb Kuyper of the Netherlands, and Swann's in New York.

Rare Book Monthly

  • <center><b> Ketterer Rare Books<br>Auction on July 6th</b>
    <b>Ketterer Rare Books, July 6:</b><br>Latin Book of Hours, around 1480.<br>Est: € 30,000
    <b>Ketterer Rare Books, July 6:</b><br>Northern journeys - Collection of around 120 works, 17th-19th century.
    <b>Ketterer Rare Books, July 6:</b><br>J. Joyce, <i>Ulysses,</i> 1922. Est: € 8,000
    <center><b> Ketterer Rare Books<br>Auction on July 6th</b>
    <b>Ketterer Rare Books, July 6:</b><br>Florilegium, <i>Fleurs du Printemps et de l‘Este,</i> around 1630. Est: € 35,000
    <b>Ketterer Rare Books, July 6:</b><br>T. R. Malthus, <i>An essay on the principle of population,</i> 1798. Est: € 60,000
    <b>Ketterer Rare Books, July 6:</b><br>E. Cerillo, <i>Dipinti murali di Pompei,</i> 1886. Est: € 2,000
    <center><b> Ketterer Rare Books<br>Auction on July 6th</b>
    <b>Ketterer Rare Books, July 6:</b><br><i>Bulla aurea,</i> 1485. Est: € 40,000
    <b>Ketterer Rare Books, July 6:</b><br>A. Verschaffelt, <i>Iconographie des Camellias,</i> 1848-60. Est: € 10,000
    <b>Ketterer Rare Books, July 6:</b><br>M. Duchamp & A. Breton, <i>Le surréalisme en 1947,</i> 1947.<br>Est: € 16,000
    <center><b> Ketterer Rare Books<br>Auction on July 6th</b>
    <b>Ketterer Rare Books, July 6:</b><br>H. Schedel, <i>Liber chronicarum,</i> 1493.<br>Est: € 25,000
    <b>Ketterer Rare Books, July 6:</b><br>M. E. Chevreul, <i>De la loi du contraste simultané des couleurs,</i> 1839.<br>Est: € 5,000
    <b>Ketterer Rare Books, July 6:</b><br>F. Léger & P. Éluard, <i>Liberté j‘écris ton nom,</i> 1953. Est: € 15,000
  • <center><b>Bonhams<br>Fine Books and Manuscripts<br>Online Only<br>25 June to 8 July 2020</b>
    <b>Bonhams, Jun. 25 – Jul. 8:</b> SHAKESPEARE, WILLIAM. <i>Macbeth: A Tragedy.</i> Acted at the Dukes-Theatre. London: printed for William Cademan, 1673. $60,000 to $90,000.
    <b>Bonhams, Jun. 25 – Jul. 8:</b> MUYBRIDGE, EADWEARD. Panorama of San Francisco, from California-St. Hill. [San Francisco:] Morse's Gallery, 1877. $15,000 to $25,000.
    <b>Bonhams, Jun. 25 – Jul. 8:</b> BRUNUS ARETINUS, LEONARDUS. <i>De bello Italico adversus Gothos gesto.</i> Venice: Nicolas Jenson, 1471. $12,000 to $18,000.
    <center><b>Bonhams<br>Fine Books and Manuscripts<br>Online Only<br>25 June to 8 July 2020</b>
    <b>Bonhams, Jun. 25 – Jul. 8:</b> HILL, JOHN. <i>Compleat Body of Gardening.</i> London: printed for T. Osborne; T. Trye; S. Crowder and Co.; and H. Woodgate, 1757. $10,000 to $15,000.
    <b>Bonhams, Jun. 25 – Jul. 8:</b> GASPAR DE PORTOLA. Document Signed Twice ("Gaspar de Portola," & "M. Portola"), 29 pp, Puebla, Mexico, December 10, 1780. $8,000 to $12,000.
    <b>Bonhams, Jun. 25 – Jul. 8:</b> VINGTIEME SIECLE. A complete set of the second series of <i>Vingtieme Siecle (XXe Siecle),</i> together with all fourteen special numbers. $8,000 to $12,000.
    <center><b>Bonhams<br>Fine Books and Manuscripts<br>Online Only<br>25 June to 8 July 2020</b>
    <b>Bonhams, Jun. 25 – Jul. 8:</b> ROOSEVELT, FRANKLIN DELANO. Autograph Letter Signed ("F.D.R.") as President, Washington, [1941], to Norman Davis, on White House stationery. $6,000 to $8,000.
    <b>Bonhams, Jun. 25 – Jul. 8:</b> HAYEK, FRIEDRICH AUGUST. Autograph Manuscript, "Discipline of Civilisation." $4,000 to $6,000.
    <b>Bonhams, Jun. 25 – Jul. 8:</b> ADAMS, HANNAH; ADAMS, THOMAS "BOOK". Daubuz, Charles. <i>A Perpetual Commentary On The Revelation Of St. John.</i> London: Printed for Benj. Tooke, 1720. $4,000 to $6,000.
    <b>Bonhams, Jun. 25 – Jul. 8:</b> EMPEROR NORTON. Photograph signed ("Norton I"), albumen print carte-de-visite. $4,000 to $6,000.
    <b>Bonhams, Jun. 25 – Jul. 8:</b> ROBERTS, DAVID. <i>Egypt and Nubia from Drawings Made on the Spot ... with Historical Descriptions by William Brockendon.</i> London: F.G. Moon, 1846-9. $4,000 to $6,000.

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