Joe Felcone of Princeton, New Jersey, a bookman for 35 years, speaking about the business generally more than about the recent show in which he exhibited, expressed it this way:
"I've been in the book business for 35 years and never seen anything like this. The orders have stopped."
Bill Reese called it a difficult market but was satisfied with the business he did at the recent fair. "People [referring to dealers] have formed unreasonable expectations. The notion that value constantly accrues is false." Bill and his staff are refocusing on building client collections.
Another dealer, one of the most successful in the field said, "I'm in the business of selling. I adjust my prices and will consign to auction to generate cashflow."
Ed Postal of Barnaby Rudge called his fair acceptable. "Everyone is doing less business. I felt the traffic was good. People were looking but buying less often and, more than in the past, paying by credit card."
Finally there was one dark note. One dealer was reported to have marked up some inventory by 20% and then falsely discounted it at the show. The ABAA is a fine organization. Without question many of the best dealers in the United States are members. Manipulation of prices to create a false impression of discounts casts an aspersion on the integrity of the show itself. Prices are written in pencil, the ABAA standards in ink.
Book Fairs and auctions are probably going to be even more important in the down market than they were in the up. Sales and prices may decline but the market data and face-to-face contacts at shows will be invaluable in accessing how the market is adjusting. Dealers who are going to hold out for the last dime aren't going to do well while dealers who adjust, will make less but build client relationships that will continue into the recovery.
We know every dealer is a book lover. Now we are going to find out how many are canny business people.
Editor's Note: Several people in the ABAA have taken issue with my statement "Finally there was one dark note. One dealer was reported to have marked up some inventory by 20% and then falsely discounted it at the show." They point out this may simply have been an error rather than intentional. We hope so.
Sotheby’s, Dec. 11: Darwin and Wallace. On the Tendency of Species to form Varieties..., [in:] Journal of the Proceedings of the Linnean Society, Vol. III, No. 9., 1858, Darwin announces the theory of natural selection. £100,000 to £150,000.
Sotheby’s, Dec. 11: J.K. Rowling. Harry Potter and the Philosopher's Stone, 1997, first edition, hardback issue, inscribed by the author pre-publication. £100,000 to £150,000.
Sotheby’s, Dec. 11: Wolfgang Amadeus Mozart. Autograph sketchleaf including a probable draft for the E flat Piano Quartet, K.493, 1786. £150,000 to £200,000.
Sotheby’s, Dec. 12: Hooke, Robert. Micrographia: or some Physiological Descriptions of Minute Bodies made by Magnifying Glasses. London: James Allestry for the Royal Society, 1667. $12,000 to $15,000.
Sotheby’s, Dec. 12: Chappuzeau, Samuel. The history of jewels, first edition in English. London: T.N. for Hobart Kemp, 1671. $12,000 to $18,000.
Sotheby’s, Dec. 12: Sowerby, James. Exotic Mineralogy, containing his most realistic mineral depictions, London: Benjamin Meredith, 1811, Arding and Merrett, 1817. $5,000 to $7,000.
Heritage Auctions Rare Books Signature Auction December 15, 2025
Heritage, Dec. 15: John Donne. Poems, By J. D. With Elegies on the Author's Death. London: M[iles]. F[lesher]. for John Marriot, 1633.
Heritage, Dec. 15: Edgar Rice Burroughs. Tarzan of the Apes.
Heritage, Dec. 15: F. Scott Fitzgerald. Tender is the Night. A Romance.
Heritage, Dec. 15: Jerry Thomas. How to Mix Drinks, or the Bon-Vivant's Companion, Containing Clear and Reliable Directions for Mixing All the Beverages Used in the United States…
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Swann Maps & Atlases, Natural History & Color Plate Books December 9, 2025
Swann, Dec. 9: Lot 156: Cornelis de Jode, Americae pars Borealis, double-page engraved map of North America, Antwerp, 1593.
Swann, Dec. 9: Lot 206: John and Alexander Walker, Map of the United States, London and Liverpool, 1827.
Swann, Dec. 9: Lot 223: Abraham Ortelius, Typus Orbis Terrarum, hand-colored double-page engraved world map, Antwerp, 1575.
Swann Maps & Atlases, Natural History & Color Plate Books December 9, 2025
Swann, Dec. 9: Lot 233: Aaron Arrowsmith, Chart of the World, oversize engraved map on 8 sheets, London, 1790 (circa 1800).
Swann, Dec. 9: Lot 239: Fielding Lucas, A General Atlas, 81 engraved maps and diagrams, Baltimore, 1823.
Swann, Dec. 9: Lot 240: Anthony Finley, A New American Atlas, 15 maps engraved by james hamilton young on 14 double-page sheets, Philadelphia, 1826.
Swann Maps & Atlases, Natural History & Color Plate Books December 9, 2025
Swann, Dec. 9: Lot 263: John Bachmann, Panorama of the Seat of War, portfolio of 4 double-page chromolithographed panoramic maps, New York, 1861.
Swann, Dec. 9: Lot 265: Sebastian Münster, Cosmographei, Basel: Sebastian Henricpetri, 1558.
Swann, Dec. 9: Lot 271: Abraham Ortelius, Epitome Theatri Orteliani, Antwerp: Johann Baptist Vrients, 1601.
Swann Maps & Atlases, Natural History & Color Plate Books December 9, 2025
Swann, Dec. 9: Lot 283: Joris van Spilbergen, Speculum Orientalis Occidentalisque Indiae, Leiden: Nicolaus van Geelkercken for Jodocus Hondius, 1619.
Swann, Dec. 9: Lot 285: Levinus Hulsius, Achtzehender Theil der Newen Welt, 14 engraved folding maps, Frankfurt: Johann Frederick Weiss, 1623.
Swann, Dec. 9: Lot 341: John James Audubon, Carolina Parrot, Plate 26, London, 1827.
![<b>Sotheby’s, Dec. 11:</b> Darwin and Wallace. On the Tendency of Species to form Varieties..., [in:] <i>Journal of the Proceedings of the Linnean Society,</i> Vol. III, No. 9., 1858, Darwin announces the theory of natural selection. £100,000 to £150,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/00d5fd41-2542-4a80-b119-4886d4b9925f.png "<b>Sotheby’s, Dec. 11:</b> Darwin and Wallace. On the Tendency of Species to form Varieties..., [in:] <i>Journal of the Proceedings of the Linnean Society,</i> Vol. III, No. 9., 1858, Darwin announces the theory of natural selection. £100,000 to £150,000.")
![<b>Heritage, Dec. 15:</b> John Donne. <i>Poems, By J. D. With Elegies on the Author's Death.</i> London: M[iles]. F[lesher]. for John Marriot, 1633.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/8caddaea-4c1f-47a7-9455-62f53af36e3f.jpg "<b>Heritage, Dec. 15:</b> John Donne. <i>Poems, By J. D. With Elegies on the Author's Death.</i> London: M[iles]. F[lesher]. for John Marriot, 1633.")
