• <center><b>Christie’s<br>Charlie Watts: Literature and Jazz<br>London and online auction<br>15–29 September</b>
    <b>Christie’s, Explore now:</b><br>F. Scott Fitzgerald (1896–1940). <i>The Great Gatsby.</i> New York: Charles Scribner's Sons, 1925. £100,000–150,000
    <b>Christie’s, Explore now:</b><br>Arthur Conan Doyle (1859–1930). </i>The Hound of the Baskervilles: Another Adventure of Sherlock Holmes.</b> London: George Newnes, 1902. £70,000–100,000
    <b>Christie’s, Explore now:</b><br>Agatha Christie (1890–1976). <i>The Thirteen Problems.</i> London: for the Crime Club Ltd. by W. Collins Sons & Co. Ltd., 1932. £40,000–60,000
    <b>Christie’s, Explore now:</b><br>Dashiell Hammett (1894–1961). <i>The Maltese Falcon.</i> New York: Alfred A. Knopf, 1930. £30,000–50,000
  • <b><center>CONSIGN NOW</b>
    <b>Ketterer Rare Books, Preview:</b></br> H. Scherer, <i>Atlas novus exhibens orbem terraqueum,</i> 1702-10.<br>Est: € 15,000
    <b>Ketterer Rare Books, Preview:</b></br> L. de Varthema, <i>Die Ritterlich und lobwirdig rayß,</i> 1515.<br>Est: € 60,000
    <b>Ketterer Rare Books, Preview:</b></br> G. Heym, <i>Umbra vitae,</i> 1924.<br>Est: € 8,000
    <b>Ketterer Rare Books, Preview:</b></br>F. de Wit, <i>Orbis maritimus ofte Zee Atlas,</i> around 1680.<br>Est: € 15,000
  • <center><b>Gonnelli: Auction 46 Books<br>Autographs & Manuscripts<br>Oct 3rd-5th 2023</b>
    <b>Gonnelli:</b> Tilson - Zanotto, Il vero tema. 2011. Starting price 150 €
    <b>Gonnelli:</b> Munari, Storia di un filo. Starting price 400 €
    <b>Gonnelli:</b> Debord, Contre le cinéma. 1964. Starting price 150 €
    <b>Gonnelli:</b> Futurism books and ephemera
    <b>Gonnelli:</b> Travel books
    <b>Gonnelli:</b> Medicine books
    <b>Gonnelli:</b> Levaillant, Histoire naturelle des perroquets. 1801-1805. Starting price 52.000 €
    <b>Gonnelli:</b> Carrera, Il gioco de gli scacchi. 1617. Starting price 3200 €
    <b>Gonnelli:</b> Vergilius, Opera. 1515. Starting price 800 €
  • <b><center>Forum Auctions<br>Colour Plate Books from the Library of Norman Bobins<br>26th September 2023</b>
    <b>Forum, Sep. 26:</b> Alken (Henry), Thomas Egerton et al. <i>The Melange of Humour,</i> first collected edition, Printed by W. Lewis, [c.1835]. £2,000 to £3,000.
    <b>Forum, Sep. 26:</b> [Cheny (John) and Thomas Butler, publishers]. <i>[Horses & Their Pedigrees],</i> Cheny & Butler, 1740-1746 or 1751-1753. £4,000 to £6,000.
    <b>Forum, Sep. 26:</b> Dikenman (R.) Voyage en Suisse, Zurich, [c.1830]. £2,000 to £3,000.
    <b><center>Forum Auctions<br>Colour Plate Books from the Library of Norman Bobins<br>26th September 2023</b>
    <b>Forum, Sep. 26:</b> Eckert (H.A.) Monten (Dietrich) and F. Schlever. <i>Das K.K. Russische Militair aus dem grossen Werke Saemmtliche Truppen von Europa,</i> first edition, Wuerzburg, 1840 [but c.1842]. £4,000 to £6,000.
    <b>Forum, Sep. 26:</b> Havell, Junior (Robert). <I>Costa Scena, or a Cruise along the Southern Coast of Kent,</I> hand-coloured aquatint panorama with original boxwood drum, 1823. £3,000 to £4,000.
    <b>Forum, Sep. 26:</b> Heideloff (Victor). <i>Ansichten des Herzoglich Württembergischen Landsitzes Hohenheim,</i> first edition in original 6 parts, Nuremberg, 1795-1800. £4,000 to £6,000.
    <b><center>Forum Auctions<br>Colour Plate Books from the Library of Norman Bobins<br>26th September 2023</b>
    <b>Forum, Sep. 26:</b> Jones (Owen) and Jules Goury. <i>Views on the Nile: from Cairo to the Second Cataract,</i> first edition, Graves and Warmsley, 1843. £3,000 to £4,000.
    <b>Forum, Sep. 26:</b> Meyer (Johann Heinrich). <i>Der Rigiberg in Zeichnungen nach der Natur,</i> Zurich, Fuessli, 1807. £3,000 to £4,000.
    <b>Forum, Sep. 26:</b> Nichol (Andrew). <i>Five Views of the Dublin and Kingstown Railway,</i> first edition, Dublin, William Frederick Wakeman, 1834. £5,000 to £7,000.
    <b><center>Forum Auctions<br>Colour Plate Books from the Library of Norman Bobins<br>26th September 2023</b>
    <b>Forum, Sep. 26:</b> Schetky (J. C.) A series of four sketches, illustrative of various situations of His Majesty's Ship Pique, Portsea, Trives & Maynard, 1835. £4,000 to £6,000.
    <b>Forum, Sep. 26:</b> Stackelberg (Otto Magnus von). <i>Costumes et Usages des Peuples de la Grece Moderne,</i> first edition, Rome, 1825. £20,000 to £30,000.
    <b>Forum, Sep. 26:</b> Stucchi (Stanislao). <i>Raccolta di Scene Teatrali eseguite o disegnate dai più celebri Pittori Scenici in Milano,</i> 3 vol., Milan, 1817. £6,000 to £8,000.

Rare Book Monthly

Articles - February - 2009 Issue

Reality Returns to Bookselling

Decession

The next few years will be difficult


By Bruce McKinney

The median price of books, manuscripts and ephemera, measured across more than 220,000 lots sold at auction in 2008, fell 21% from 2007. The decline, which mostly occurred in the second half, saw the median price for the year fall to levels consistent with 2003 while masking a larger decline that, if sustained in 2009, will carry realizations back to levels last seen in 2000. Dealers and auction houses generally expect further retrenchment and auction houses are lowering estimates and reserves in response. Note: Median price is the midpoint of prices paid and differs from average price that is disproportionately affected by single high value transactions.

Reality in 2009 will now work itself out in public - mainly in the auction rooms where six-hundred fresh lots are posted each day. Should realizations continue to fall such experience will lead to lower expectations. It's a potentially slow and uneven process that may take several years as many online sellers will probably prefer to wait for recovery rather than adjust to a downturn they hope is temporary. They may wait a long time. Even when the economy was strong only a small percentage of old and rare books listed on line sold in any year. In recession, sell-through will further decline. At auction 70 to 76% of all listed items have sold over the past five years.

In what is shaping up as a tumultous year the spreads between auction realizations and online listed prices, which generally have run at a 3 to 2 ratio [$100 on a listing site, $67 at auction], may increase to 2 to 1 [$100 on a listing site versus $50 at auction]. In this scenario auction realizations decline while listing prices, at least short term, hold.

While the book business has unique problems it is also part of the real economy and the economy will be weak for an extended period. This is the eleventh sustained economic downtown [10 recessions, 1 depression] since 1900 * and looks to be neither garden-variety recession nor an absolute depression. Mike Stillman calls it a "decession" or, if you prefer, "repression" and it looks to be five years more or less. The Nobel laureate Paul Krugman, who teaches at Princeton and writes for the New York Times, has recently conveyed a sense of possible abyss. Frank Rich adds this: "While its become a Beltway cliche that America's new young president has yet to be tested, it is past time for us to realize that our own test is also about to begin." The economy is going to get tough and how much room there will be in the lifeboats for books is uncertain.

Historically, in the book business, sales rather than prices decline. In commercial fields that informally set prices based on observation of competitors' prices the variable is time and the rare book business, which is anathema to lowering prices, simply hunkers down. In this economic downturn that strategy is almost certainly not going to work because the economy, in recovery, will experience inflation that returns dollars that buy significantly less. After all binges there are then the headaches.

Rare Book Monthly

  • <center><b>Sotheby's<br>English Literature and History<br>Available for Immediate Purchase</b>
    <b>Sotheby’s, Available Now:</b> William Shakespeare. <i>A Midsummer-Night's Dream,</i> 1908. 7,500 USD
    <b>Sotheby’s, Available Now:</b> Charlotte, Emily and Anne Brontë. <i>Brontës' Novels,</i> 1922. 2,400 USD
    <b>Sotheby’s, Available Now:</b> Lewis Carroll. <i>Through the Looking-Glass and What Alice Found There,</i> 1872. 25,000 USD
    <b>Sotheby’s, Available Now:</b> Charles Dickens. Collection of Fiction including <i>Oliver Twist</i> and <i>Sketches by Boz,</i> 1838-1865. 6,250 USD
    <b>Sotheby’s, Available Now:</b> Mary Shelley. <i>Frankenstein,</i> 1839. 4,250 USD
    <b>Sotheby’s, Available Now:</b> James Joyce. <i>Ulysses,</i> 1925. 2,500 USD
    <b>Sotheby’s, Available Now:</b> Jane Austen. <i>The Complete Works of Jane Austen,</i> 1901. 5,250 USD
  • <center><b>Jeschke Jadi Auctions Berlin<br>Rare Books, Prints, Historical Photography<br>29 September 2023</b>
    <b>Jeschke Jádi, Sep. 29:</b> Jan Theodor de Bry. <i>Anthologia magna sive Florilegium novum.</i> 1626. 9,000 €
    <b>Jeschke Jádi, Sep. 29:</b> John Locke. <i>Epistola de tolerantia ad Clarissimum Virum T.A.R.P.T.O.L.A.</i> 1689. 9000 €
    <b>Jeschke Jádi, Sep. 29:</b> F. T. Marinetti, Boccioni, Pratella, Carrà, a.o. <i>Collection of 35 Futurist manifestos.</i> 1909-1933. 7000 €
    <b>Jeschke Jádi, Sep. 29:</b> Johann Elert Bode, Rare engraved celestial globe. (1804). 6000 €
    <b>Jeschke Jádi, Sep. 29:</b> Sebastian Brant (ed.). <i>Tertia pars huius operis in se continens glosam ordinariam cum expositione lyre litterali et morali.</i> 1498. 5000 €
  • <b><center>Forum Auctions<br>Fine Books, Manuscripts and Works on Paper<br>28th September 2023</b>
    <b>Forum Auctions, Sep. 28:</b> Asia.- Mandeville (Sir John). <i>Tractato bellissimo delle piu maravigliose cose & piu motabile che sitrovino nelle parte delmondo,</i> Florence, [Lorenzo Morgiani], [?1505] or possibly, 1496-99. £40,000 to £60,000.
    <b>Forum Auctions, Sep. 28:</b> Arabic ms.- Ghazaliyaat Kan'at al-Arabi [Divan of Poetry written in Arabic], illuminated manuscript in Arabic, Safavid Persia (probably Isfahan), [second quarter of 16th century]. £12,000 to £16,000.
    <b>Forum Auctions, Sep. 28:</b> Foxe (John). <i>Actes and monuments of these latter and perillous dayes, touching matters of the Church…,</i> first edition, dwellyng ouer Aldersgate, [20th March, 1563]. £15,000 to £20,000.
    <b><center>Forum Auctions<br>Fine Books, Manuscripts and Works on Paper<br>28th September 2023</b>
    <b>Forum Auctions, Sep. 28:</b> Barrie (J.M.) <i>Peter Pan or The Boy Who Would Not Grow Up,</i> first play edition, signed presentation inscription from the author "To my dear Jane Pan", 1928. £3,000 to £4,000.
    <b>Forum Auctions, Sep. 28:</b> Gillray (James). John Bull taking a Luncheon: -or- British Cooks, cramming Old Grumble-Gizzard, with Bonne-Chére, etching with hand-colouring, 1798. £1,500 to £2,000.
    <b>Forum Auctions, Sep. 28:</b> Middle East.- Roberts (David). <i>The Holy Land, Syria, Idumea, Arabia, Egypt & Nubia,</i> 6 vol. bound as 4, first edition, 1842-49. £12,000 to £18,000.
    <b><center>Forum Auctions<br>Fine Books, Manuscripts and Works on Paper<br>28th September 2023</b>
    <b>Forum Auctions, Sep. 28:</b> Greenwood (C. & J.) <i>Map of London made from an Actual Survey in the Years 1824, 1825 & 1826...,</i> first edition, engraved map, 1827. £15,000 to £20,000.
    <b>Forum Auctions, Sep. 28:</b> Newton (Sir Isaac). <i>Opticks: or, A Treatise of the Reflexions, Refractions, Inflexions and Colours of Light…,</i> first edition, 1704. £15,000 to £20,000.
    <b>Forum Auctions, Sep. 28:</b> Smith (Percy John Delf). Collection of 19 original preliminary drawings for "Twelve Drypoints of the War 1914-1918", circa 1914-1918; together with 11 drypoints from "Twelve Drypoints of the War 1914-1918", 1925. £15,000 to
    <b><center>Forum Auctions<br>Fine Books, Manuscripts and Works on Paper<br>28th September 2023</b>
    <b>Forum Auctions, Sep. 28:</b> Guild of Women Binders.- Watts (Alaric A.) <i>Lyrics of the Heart: with other poems</I>, in a stunning richly gilt green crushed morocco by the Guild of Women Binders, Longman, 1851. £12,000 to £18,000.
    <b>Forum Auctions, Sep. 28:</b> Cosway binding.- Dodgson (Charles Lutwidge). "Lewis Carroll". <i>Alice's Adventures in Wonderland,</i> in a Cosway binding with miniatures by Miss C.B. Currie, 1868. £10,000 to £15,000.
    <b>Forum Auctions, Sep. 28:</b> Fleming (Ian). <i>Casino Royale,</i> first edition, first impression, 1953. £18,000 to £22,000.
  • <center><b>Swann Auction Galleries View Our Record Breaking Results</b>
    <b>Swann:</b> Charles Monroe Schulz, <i>The Peanuts gang,</i> complete set of 13 drawings, ink, 1971. Sold June 15 — $50,000.
    <b>Swann:</b> Charlotte Perkins Gilman, Family Archive of Photographs & Letters. Sold June 1 — $60,000.
    <b>Swann:</b> Victor H. Green, <i>The Negro Motorist Green Book,</i> New York, 1949. Sold March 30 — $50,000.
    <b>Swann:</b> William Shakespeare, <i>King Lear; Othello;</i> [and] <i>Anthony & Cleopatra;</i> Extracted from the First Folio, London, 1623. Sold May 4— $185,000.
    <center><b>Swann Auction Galleries View Our Record Breaking Results</b>
    <b>Swann:</b> William Samuel Schwartz, <i>A Bridge in Baraboo, Wisconsin,</i> oil on canvas, circa 1938. Sold February 16 — $32,500.
    <b>Swann:</b> Lena Scott Harris, <i>Group of approximately 65 hand-colored botanical studies, all apparently California native plants,</i> hand-colored silver prints, circa 1930s. Sold February 23 — $37,500.
    <b>Swann:</b> Suzanne Jackson, <i>Always Something To Look For,</i> acrylic & pencil on linen canvas, circa 1974. Sold April 6 — $87,500.
    <b>Swann:</b> Gustav Klimt, <i>Das Werk von Gustav Klimt,</i> complete with 50 printed collotype plates, Vienna & Leipzig, 1918. Sold June 15 — $68,750.
  • <b><center>Dominic Winter Auctioneers<br>September 27<br>The Library of the Late Christopher Foyle of Beeleigh Abbey: Part One</b>
    <b>Dominic Winter, Sep. 27:</b> Bible, Dominican Use, in Latin. Illuminated manuscript on vellum, [France: probably Paris, c. 1240]. £10,000-15,000
    <b>Dominic Winter, Sep. 27:</b> Book of Hours, <i>in French with Latin cues.</i> Illuminated manuscript on vellum [France, Normandy, early(?) 15th century]. £10,000-15,000.
    <b>Dominic Winter, Sep. 27:</b> Book of Hours, <i>Use of Rouen, in Latin and French.</i> Illuminated manuscript on vellum, [France: Rouen, c. 1480]. £30,000-40,000
    <b><center>Dominic Winter Auctioneers<br>September 27<br>The Library of the Late Christopher Foyle of Beeleigh Abbey: Part One</b>
    <b>Dominic Winter, Sep. 27:</b> Mary I (1516-1558). <i>Queen of England, 1553-1558.</i> Letter signed, ‘Marye the Quene’, Greenwich, 7 January 1558. £15,000-20,000
    <b>Dominic Winter, Sep. 27:</b> Jonson (Ben). Works, 1st collected edition, 3 volumes, 1640. £7,000-10,000
    <b>Dominic Winter, Sep. 27:</b> Essex. A sammelband of 27 English Civil War pamphlets mostly relating to the siege of Colchester, Essex, 1648. £5,000-8,000
    <b><center>Dominic Winter Auctioneers<br>September 27<br>The Library of the Late Christopher Foyle of Beeleigh Abbey: Part One</b>
    <b>Dominic Winter, Sep. 27:</b> Latham (Simon). Latham’s Faulconry, or the Faulcons Lure and Cure, 2 parts in one, 1658/. £2,000-3,000
    <b>Dominic Winter, Sep. 27:</b> Exquemelin (Alexandre Olivier). The History of the Bucaniers of America, 2 volumes in 1, 2nd edition, 1695. £1,000-1,500
    <b>Dominic Winter, Sep. 27:</b> Campbell (Patrick). Travels in the interior inhabited parts of North America..., 1st ed., 1793. £5,000-8,000
    <b><center>Dominic Winter Auctioneers<br>September 27<br>The Library of the Late Christopher Foyle of Beeleigh Abbey: Part One</b>
    <b>Dominic Winter, Sep. 27:</b> Burton (Richard F.). Personal Narrative of a Pilgrimage to El-Medinah and Meccah, 3 volumes, 1st edition, 1855-56. £5,000-8,000
    <b>Dominic Winter, Sep. 27:</b> Cosway-style binding. Napoleon and the Fair Sex, 1894. One of 9 similar lots. £1,000-1,500
    <b>Dominic Winter, Sep. 27:</b> Shepard (Ernest Howard, 1879-1976). Pooh and Piglet, original pen and ink drawing, 1958. £20,000-30,000

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