• Swann
    Printed & Manuscript Americana
    November 20, 2025
    Swann, Nov. 20: Lot 9
    George Catlin. O-Kee-Pa: A Religious Ceremony; and other Customs of the Mandans. London, 1867.
    Swann, Nov. 20: Lot 17
    Benjamin Beal, Unpublished diary of a lieutenant serving in the Invasion of Quebec, 1776.
    Swann, Nov. 20: Lot 23
    George Washington, Autograph Letter Signed anticipating the coming British campaign against Philadelphia, 1777.
    Swann
    Printed & Manuscript Americana
    November 20, 2025
    Swann, Nov. 20: Lot 35
    Matthias C. Sprengel, Allgemeines historisches Taschenbuch, the first published appearance of the American flag, [1784].
    Swann, Nov. 20: Lot 120
    Portfolio of lithograph Civil War portraits by Ehrgott, Forbriger & Co. and others. Cincinnati, OH, circa 1863.
    Swann, Nov. 20: Lot 130
    Eleazar Huntington, engraver. Early broadside engraving of the Declaration of Independence, circa 1820-24.
    Swann
    Printed & Manuscript Americana
    November 20, 2025
    Swann, Nov. 20: Lot 175
    Jeremiah B. Taylor, Letterbook of a frontier Baptist missionary in Kansas with tales of friendly Indians and unfriendly Confederate raiders, 1839-1887.
    Swann, Nov. 20: Lot 188
    Jonas Rishel, The Indian Physician, Containing a New System of Practice, Founded on Medical Plants, 1828.
    Swann, Nov. 20: Lot 201
    Brigham Young and the First Presidency of the LDS, Commission issued to two Church representatives, 1849.
    Swann
    Printed & Manuscript Americana
    November 20, 2025
    Swann, Nov. 20: Lot 293
    Kuonraden's Vart (Kuonrad's Travels), an illustrated western travel memoir set to verse, circa 1914.
    Swann, Nov. 20: Lot 311
    Hermann Stieffel, Early watercolor view of the ruins of a Spanish mission in the Manzano Grant. Manzano, NM, circa 1860-67.
    Swann, Nov. 20: Lot 343
    Vida de San Felipe de Jesus, protomartir del Japon, y patron de su patria Mexico.
  • University Archives
    Rare Autographs, Manuscripts & Books
    Now through Nov. 19
    University Archives, Nov. 19:
    Lot 308 - Bob Dylan Handwritten & Signed Lyrics to "Just Like a Woman" With Jeff Rosen & JSA Authentication
    University Archives, Nov. 19:
    Lot 455 - Isaac Newton Admiration For Judaism & Moral Continuity With Christianity! 350+ Words in his Hand - Extraordinary Content!
    University Archives, Nov. 19:
    Lot 219 - 371g Moon Meteorite, Incredible Find - Laâyoune 002
    University Archives
    Rare Autographs, Manuscripts & Books
    Now through Nov. 19
    University Archives, Nov. 19:
    Lot 448 - Scarce Einstein AM on Unified Field Theory, 180+ Words & 11 Equations in His Hand! From His Published Article, "A Generalization of the Relativistic Theory of Gravitation"
    University Archives, Nov. 19:
    Lot 159 - Woodrow Wilson Baseball Signed for WWI Red Cross Fundraiser, Ex. Forbes & PSA Authentic - Finest Known!
    University Archives, Nov. 19:
    Lot 84 - Lee Harvey Oswald ALS to Brother, Trying Desperately to Get out of Russia! Highly Important
    University Archives
    Rare Autographs, Manuscripts & Books
    Now through Nov. 19
    University Archives, Nov. 19:
    Lot 152 - George Washington Signed Discharge for MA Soldier Whose Regiment Was at Bunker Hill!
    University Archives, Nov. 19:
    Lot 88 - Abraham Lincoln Fully Signed Military Appointment for Mexican War Vet & Respected Cavalryman
    University Archives, Nov. 19:
    Lot 188 - Apollo XI Astronauts & Their Wives Signed Photo, Plus Crew Signed Cover, From Apollo XI Presidential Goodwill Tour Era, Pre-Cert Zarelli
    University Archives
    Rare Autographs, Manuscripts & Books
    Now through Nov. 19
    University Archives, Nov. 19:
    Lot 265 - Martin Luther King, Jr. TLS Re: "Stride Toward Freedom" Film Rights To Literary Agent Marie Rodell
    University Archives, Nov. 19:
    Lot 324 - John Lennon Signed Apple Records Check, PSA GEM MT 10! Possibly Finest Known
    University Archives, Nov. 19:
    Lot 79 - John & Jacqueline Kennedy Signed WH 1963 Christmas Gift Inscribed to Close Friend Joan Braden, PSA Authentic
  • Rare Book Hub is now mobile-friendly!
  • Ketterer Rare Books
    Auction November 24th
    Ketterer, Nov. 24: M. Waldseemüller, Ptolemaeus auctus restitutus, 1520. Est: € 250,000
    Ketterer, Nov. 24: I. Newton, Philosophiae naturalis principia mathematica, 1687. Est: € 100,000
    Ketterer, Nov. 24: L. Feininger, Collection of 33 comic strips, 1906-1907. Est: € 8,000
    Ketterer Rare Books
    Auction November 24th
    Ketterer, Nov. 24:H. Schedel, Liber chronicarum, 1493. Est: € 30,000
    Ketterer, Nov. 24: K. Bodmer, Personal Sketchbook with ca. 80 pencil drawings. Est: € 25,000
    Ketterer, Nov. 24: Collection of 18 postcards “Bauhaus-Ausstellung Weimar 1923.“ Est: € 40,000
    Ketterer Rare Books
    Auction November 24th
    Ketterer, Nov. 24: Latin Book of hours on vellum, 1505. Est: € 12,000
    Ketterer, Nov. 24: G. Shaw & F. P. Nodder, Vivarium naturae, 1789-1813. Est: € 10,000
    Ketterer, Nov. 24: Antoine de Saint-Exupéry, The Little Prince, 1943. First American edition. Est: € 6,000
    Ketterer Rare Books
    Auction November 24th
    Ketterer, Nov. 24: Ibn Butlan, Tacuini sanitatis, 1531. Est: € 8,000
    Ketterer, Nov. 24: Hermann Hesse, Casa Camuzzi in Montagnola, 1927. Est: € 12,000
    Ketterer, Nov. 24: Pop Art portfolio Reality & Paradoxes, 1973. Est: € 12,000

Rare Book Monthly

Articles - August - 2009 Issue

Auctions: Is the market bottoming?

Sothebys.9773.Sir Harford Jones archive:  BP217,250

Sothebys.9773.Sir Harford Jones archive: BP217,250


By Bruce McKinney

For only the second time in the past year an entire month of auction results is providing positive comparisions to the previous month. It's an encouraging sign that the market may be bottoming. The percentage of lots sold however continued to decline although the drop was small, 1% from 69% to 68%. Because virtually all lots would sell, if unreserved, the continuing decline in percentage of lots sold suggests that consignors are continuing to impose reserves above what the market is willing to pay. In February, the market also upticked but quickly gave way to four months of decline. It will take several more months to establish whether the upturn in July is a blip or a trend.

The median lot value peaked in January 2008 at $488 and may have bottomed in June at $372.

The worldwide market for books, manuscripts and ephemera naturally divides by currency: dollar, Euro and Pound. Of the 21 documented auctions conducted in July nine were denominated is Pounds, four in Euros, and eight in dollars. Total sales for all 21 auctions was $16,097,175. The nine English sales generated $13,206,514 or 82% of total.

When viewed by percentage of lots sold the English sales were best but hardly better than the American sales. The Euro denominated sales, all conducted in Paris, were the weakest:

9 English Sales 71%

8 Dollar Denominated Sales 68%

4 French Sales (in Euros) 54%

July is traditionally an important month for auctions in the United Kingdom.

A fundamental tension between lot reserves and bidder appetite continues to hold the market in check. Auctions traditionally sell 75% or more of all lots offered. Individual auctions will occasionally fail but the overall market perform well. A sell-through percentage of under 70% suggests reserves continue to be too high. Buyer enthusiasm may return but it seems possible, probably likely, that a further cut in reserves of about 10% will significantly increase the percentage of lots sold.

The graphs for Trends in Book Auction Prices have been updated. Click here to see them.

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Every 18 hours, more or less, a documented traditional auction completes somewhere in the world. The sale may be in North America, Europe, Central America or Australia; in New York, Sydney, London, Paris, Los Angeles or in any of the other places documented book auctions are conducted. A few days later the sold and unsold lots are confirmed and realized prices added, the sale then archived in the Americana Exchange Database. AE covers all such auctions as a free service for auction bidders and auction houses.

We provide a Monday morning review, each week, of all documented sales archived during the previous 7 days. The service is free.

To receive these free email updates click here to sign up, or select the upcoming Auctions link on the AE toolbar and select -

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Once signed up we suggest you select Test My Email. Then check your email inbox to confirm the test report arrives. If it has not the report may be going into your spam file. If this is the case, to receive weekly mailings, find our incoming message in your spam folder and identify it to your spam blocker as "This is not spam." Future mailings will reach you each Monday.

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Reports are emailed once a week, early Monday morning. During 2009 we expect to document close to 500 sales, an average of almost 40 a month.

We also release, once a month, graphs updating auction activity through the end of the preceding month. The Charts for July are now posted. Click here to see them.

Rare Book Monthly

  • Pandolfini Casa d’Aste
    Books, Manuscripts, Autographs and Prints
    18 November 2025
    Pandolfini, Nov. 18: Dante. De la volgare eloquenzia. Vicenza, Janiculo, 1529. € 1.500 / 2.000
    Pandolfini, Nov. 18: San Tommaso d’Aquino. Scriptum secundum luculentissimum angelico. Legato con Problemata. Lione, Jacques Myt e Francesco Giunta, 1520. € 2.500 / €3.500
    Pandolfini, Nov. 18: Palladio, Andrea. I quattro libri dell'architettura. Venezia, de' Franceschi, 1570. € 13.000 / 15.000
    Pandolfini Casa d’Aste
    Books, Manuscripts, Autographs and Prints
    18 November 2025
    Pandolfini, Nov. 18: De Saint Amant, Pierre Charles. Voyages en Californie et dans l'Orégon. Parigi, Maison, 1854. € 400 / 500
    Pandolfini, Nov. 18: Description de l’Égypte, ou Recueil des observations et des recherches qui ont été faites en Égypte pendant l’expédition de l’armée française. Parigi, 1820-1829. € 35.000 / 40.000
    Pandolfini, Nov. 18: Allioni, Carlo. Flora Pedemontana sive enumeratio methodica stirpium indigenarum Pedemontii. Torino, Briolo, 1785. € 6.000 / 8.000
    Pandolfini Casa d’Aste
    Books, Manuscripts, Autographs and Prints
    18 November 2025
    Pandolfini, Nov. 18: First edition of John Gould's first work with uncolored backgrounds. € 5.000 / 7.000
    Pandolfini, Nov. 18: Rossini, Luigi. Le Antichità dei contorni di Roma. Roma, presso l'autore e Scudellari, 1824-26. € 2.500 / 3.500
    Pandolfini, Nov. 18: Carroll, Lewis. Alice's Adventures in Wonderland. New York, Appleton & Co., 1866. € 6.000 / 8.000
    Pandolfini Casa d’Aste
    Books, Manuscripts, Autographs and Prints
    18 November 2025
    Pandolfini, Nov. 18: Hitler, Adolf. Mein Kampf. Monaco, Franz Eher, 1925-27. € 15.000 / 20.000
    Pandolfini, Nov. 18: Interesting autograph from Proust to his dear little Daudet. € 3.000 / 4.000
    Pandolfini, Nov. 18: Beautiful and rare poetic manuscript, first draft, of an airy lightness by De Saint-Exupéry. € 4.000 / 5.000
  • Sotheby’s
    Book Week
    November & December
    Sotheby’s, Nov. 6-20: Audebert, Jean-Baptiste — Louis-Pierre Vieillot. Oiseaux dorés ou à reflets métalliques, Paris, 1801-1802. €40,000 to €60,000.
    Sotheby’s, Nov. 6-20: [Hugo, Victor] — Charles Hugo, François-Victor Hugo ou Auguste Vacquerie. Portrait de Victor Hugo. Daguerréotype réalisé à Jersey vers 1852-1853. €20,000 to €30,000.
    Sotheby’s, Nov. 6-20: Orbigny, Alcide d'. Voyage dans l'Amérique méridionale... Paris, Pitois-Levrault et Cie et Strasbourg, Levrault, 1834-1847. €10,000 to €15,000.
    Sotheby’s, Nov. 6-20: Chelidonius, Benedictus. Passio Jesu Chriti. [1526?]. Maroquin bleu de Niédrée. 37 bois inspirés par Dürer. €3,000 to €5,000.
    Sotheby’s, Nov. 6-20: Cassini de Thury, César-François. Carte générale de la France faite en 1744. Paris, 1756-1788. 178 cartes entoilées, réunies dans 28 emboîtages. €15,000 to €20,000.
  • Doyle
    Rare Books, Autographs & Maps
    November 25
    Doyle
    Rare Books, Autographs & Maps
    November 25
    Doyle
    Rare Books, Autographs & Maps
    November 25
    Doyle
    Rare Books, Autographs & Maps
    November 25
    Doyle
    Rare Books, Autographs & Maps
    November 25
    Doyle
    Rare Books, Autographs & Maps
    November 25
    Doyle
    Rare Books, Autographs & Maps
    November 25
    Doyle
    Rare Books, Autographs & Maps
    November 25
  • Swann
    Rare & Important Travel Posters
    November 25, 2025
    Swann, Nov. 25: James Northfield. Australia / Koala. 1931. $800 to $1,200.
    Swann, Nov. 25: Mitsuharu Horiuchi. The North China Railway Co. Circa 1939. $3,000 to $4,000.
    Swann, Nov. 25: Cunard [Slavonia] / New York Mediterranean. Circa 1905. $3,000 to $4,000.
    Swann
    Rare & Important Travel Posters
    November 25, 2025
    Swann, Nov. 25: White Star Line / Types of World Famous Liners. Circa 1927. $2,500 to $3,500.
    Swann, Nov. 25: Visit the USSR. 1958. $1,000 to $1,500.
    Swann, Nov. 25: Stefan Norblin. Wilno. Circa 1930. $800 to $1,200.
    Swann
    Rare & Important Travel Posters
    November 25, 2025
    Swann, Nov. 25: Samuel Henchoz. Villars Chesières Suisse. 1948. $800 to $1,200.
    Swann, Nov. 25: Roger Broders. Marseille / Porte de l'Afrique du Nord. 1929. $5,000 to $7,500.
    Swann, Nov. 25: Arthur Vivian Farrar. Time is Money / Underground. Gouache maquette. 1930. $1,000 to $1,500.
    Swann
    Rare & Important Travel Posters
    November 25, 2025
    Swann, Nov. 25: Hawaii / Paradise of the Pacific. 1908. $800 to $1,200.
    Swann, Nov. 25: David Klein. New York / Fly TWA. 1956. $7,000 to $10,000.
    Swann, Nov. 25: Leslie Ragan. The New 20th Century Limited / New York Central System. 1939. $15,000 to $20,000.

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