Rare Book Monthly

Articles - March - 2009 Issue

The World Divides

Abaa.sf

Wet weather did not deter the determined


By Bruce McKinney

At the recent three day ABAA book fair in San Francisco buyers and browsers turned out in substantial numbers to renew their love affair with works on paper. The show, which is first a pre-show dealer-to-dealer event on Friday morning becomes an open-to-the-public free-for-all in the afternoon that lasts into Sunday. The private fair was by all reports quiet, the public fair well attended although the buying at the low end of expectations. The importance of shows for dealers varies from essential to simply useful. For those who needed a big fair it was mostly disappointing. A typical dealer probably spent about $5,000 to exhibit.

As to what a weak show in February in San Francisco in a difficult year may portend for the full year I spoke to several dozen dealers to get their views. These are interesting people, the Niagara Falls tightrope walkers of specialty retail and as you can imagine, united only in their individuality.

No dealer I spoke to sees any reason to be optimistic. "We're part of the real world." And if the group wrote, rather than sold, books the next one might be called "learning to survive the downturn." Every view is wary for the field and cautiously optimistic for themselves. Booksellers are the tough breed that see house fires as an opportunity to roast marshmallows. In truth, there is no money in pessimism so optimism, honestly held or not, is almost automatically expressed to book collectors and the people who write about them. This has always been the case so this year's evident caution is unusual.

The widely held view is that great material sells even in a weak economy. Dealers are less certain they want to sell their best material into a declining market. Most would prefer not to sell it at all. One dealer years ago explained: "I always sell my second-best copy. The best is my copy." Such items are a dealer's IRA; selling them a sign of concern. The good or bad news is that almost everyone feels they have such material. What's less apparent is buyer enthusiasm, confidence and budgets. The tie-breakers may be the competing elements: exceptional copies versus exceptional prices. In a deep downturn it may take reduced prices to sell even the best copies. If the downturn continues, as is now widely expected into 2010 and 2011, dealers may face increasingly painful choices. Near term, dealers appear to be adopting one of three strategies. The first is that "sales will be made." That may mean going out on the road or consigning to auction. One way or another material will be sold. Price is open to discussion. At the other end of the spectrum is the dealer at the show who, with barely concealed frustration explained, "My price is my price and the collector will eventually figure it out." This is a brave but difficult position to maintain. In between, most dealers are hoping for more while expecting less. "We booksellers are just like everyone else. When it's tough on main street we suffer too." While books sound like one category, there are in fact many printed forms, periods, types and quality levels. There are also manuscripts, maps and ephemera. In fact, ephemera dealers, with material starting at $20, were busy throughout the fair. Ken Harrison, who specializes in ephemera, said he reprices material in difficult markets. "Times are tough and prices are down. In many cases I've reduced prices by 20 to 30%." Even so, transactions are down. Bill Ewald, another ephemera dealer was noticeably busy at the fair. Collectors want to buy. Bill and Ken's price points were attractive.

Rare Book Monthly

  • <center><b>The Collectors’ Sale<br>March 3, 2021</b>
    <b>Fonsie Mealy, Mar. 3:</b> Verlag, Luzern, Publishers: <i>The Book of Kells,</i> the most precious illuminated manuscript of the early Middle Ages, now reproduced, the FIRST AND ONLY COMPLETE FINE ART FACSIMILE EDITION. €5,000 to €6,000.
    <b>Fonsie Mealy, Mar. 3:</b> Rowling (J.K.) <i>Harry Potter and the Philosophers Stone,</i> 8vo, L. (Bloomsbury) 1997, First Deluxe Edn., Signed by the Author on title page. €4,000 to €5,000.
    <b>Fonsie Mealy, Mar. 3:</b> Gilbert (John T.) Account of Facsimiles of National Manuscripts of Ireland, from the earliest extant specimens to A.D. 719. €2,000 to €3,000.
    <center><b>The Collectors’ Sale<br>March 3, 2021</b>
    <b>Fonsie Mealy, Mar. 3:</b> <i>The Georgian Society Records of Eighteenth-Century Domestic Architecture in Dublin [-Ireland],</i> 5 vols. lg. 4to D. 1909 - 1913. Limited Editions. €1,500 to €2,000.
    <b>Fonsie Mealy, Mar. 3:</b> Yeats (W.B.) <i>The Poems of W.B. Yeats,</i> 2 vols., roy 8vo, L. (MacMillan & Co.) 1949, Limited Edn., No. 185 (of 375 copies). Signed. €1,500 to €2,000.
    <b>Fonsie Mealy, Mar. 3:</b> Crone (John S.)ed. <i>The Irish Book Lover, A Monthly Review of Irish Literature and Bibliography.</i> Vol. I No 1 August 1909 - Vol. XXXII No. 6, September 1957. €1,250 to €2,000.
    <center><b>The Collectors’ Sale<br>March 3, 2021</b>
    <b>Fonsie Mealy, Mar. 3:</b> Yeats (John Butler) <i>An original self-portrait Sketch,</i> Signed and dated April 1919, N[ew] York. €1,200 to €1,500.
    <b>Fonsie Mealy, Mar. 3:</b> Photograph Album. Entitled ''A Souvenir of the Visit to Jeypore Samasthanam of His Excellency the Right Hon'ble Viscount Goschen of Hawkhurst… 14th December 1927''. €1,000 to €1,500.
    <b>Fonsie Mealy, Mar. 3:</b> Pistolesi (Erasmo) <i>Il Vaticano,</i> 8vols. large atlas, folio Rome (Tipografia della Societa..) 1829. €500 to €600.
    <center><b>The Collectors’ Sale<br>March 3, 2021</b>
    <b>Fonsie Mealy, Mar. 3:</b> Chagall (Marc)illus., Legmarie (Jean) comp., <i>The Jerusalem Windows,</i> folio N.Y. (George Braziller) 1962. €400 to €500.
    <b>Fonsie Mealy, Mar. 3:</b> Bullitt (Thos. W.) <i>My Life at Oxmoor,</i> Life on a Farm in Kentucky before the War. Roy 8vo Louisville, Kentucky, 1911. Privately Printed No. 86 of 100 Copies Only. €300 to €400.
    <b>Fonsie Mealy, Mar. 3:</b> Popish Plot: Oates (Titus) <i>The Popes Whore House or The Merchandise of The Whore of Rome,</i> folio L. 1679. First Edn. €100 to €150.
  • <b>Swann Auction Galleries Feb 25:</b> Frederick Douglass, ALS recruiting help for his paper after schism with Garrison, Rochester, 1851. $20,000 to $30,000.
    <b>Swann Auction Galleries Feb 25:</b> James Dean, photograph by Sanford H. Roth, signed & inscribed by Dean. $7,000 to $10,000.
    <b>Swann Auction Galleries Feb 25:</b> Richard Wagner, ALS requesting confirmation that the Grand Duke received his letter, 1863. $3,000 to $4,000.
    <b>Swann Auction Galleries Feb 25:</b> Benjamin Rush, ALS, doctor’s note for a Revolutionary soldier, 1780. $2,500 to $3,500.
    <b>Swann Auction Galleries Feb 25:</b> Lord Byron, ALS to Cambridge classmate, “your friendship is of more account to me than all these absurd vanities,” c. 1812. $3,000 to $4,000.
    <b>Swann Auction Galleries Feb 25:</b> Ernest Hemingway, <i>Three Stories & Ten Poems,</i> first edition of the author’s first book, Paris, 1923. $20,000 to $30,000.
    <b>Swann Auction Galleries Feb 25:</b> Ralph Ellison, <i>Invisible Man,</i> first English edition of the author’s first novel, signed, London, 1953. $1,800 to $2,500.
    <b>Swann Auction Galleries Feb 25:</b> Margery Lawrence, <i>The Madonna of Seven Moons,</i> first edition in unrestored dust jacket, Indianapolis, 1933. $800 to $1,200.
    <b>Swann Auction Galleries Feb 25:</b> Joseph Albers, <i>Interaction of Color,</i> 80 color screenprints, Yale University Press, New Haven & London, 1963. $4,000 to $6,000.
    <b>Swann Auction Galleries Feb 25:</b> Albert Einstein, autograph manuscript, unsigned, likely a draft discarded while working toward a unified field theory. $10,000 to $20,000.

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