Rare Book Monthly

Articles - November - 2009 Issue

Book Prices Tumble Amid Cutthroat Competition

Walmart898books

Wal-Mart places new titles on sale for $8.98 online.


By Michael Stillman

We are at a moment of momentous change in the book industry. Where it all will play out remains anyone's guess. All we know is that it will soon be very different from what we have known before. Elsewhere in this month's issue of AE Monthly we tackle the court battle of Google vs. Amazon, Microsoft and others over the selling of digital copies of copyrighted books, and the plunging prices of and growing demand for electronic book readers. Here are three more book stories, two involving printed books. In one, Wal-Mart has slashed the price of some new, printed books to amounts so low they are below cost, while HP, the large computer manufacturer, has jumped into the business of print-on-demand books. Meanwhile, Barnes and Noble, the largest bricks and mortar printed book retailer, announced the introduction of their own electronic reader, the Nook, as they try to muscle in on the ebook field. Why all of this interest in the book business? For all the talk of books being in decline, there are a lot of very large companies making big bets on the business. Perhaps they know something?

One of the greatest price wars the book industry has seen broke out when Wal-Mart, tired of watching Amazon sell $10 ebooks, countered by offering selected, popular new titles through Walmart.com for $9.99. These are not ebooks, but hardcover copies, hundreds of pages of ink and paper at less than the price of an ebook. Amazon matched the deal, and Target jumped into the fray announcing they too would offer selected titles at comparable prices. Wal-Mart quickly upped the ante, dropping the price to $8.99, clearly below cost. Amazon matched them. The last we saw, Wal-Mart had inched their price down another penny, to $8.98. Among the new releases offered at this incredible price are books by Stephen King, Michael Crichton, Dean Koontz, Barbara Kinsolver, and - oh my gosh - Sarah Palin.

One can only wonder where this is going. Wal-Mart has the money and the nerves to crush just about anyone on price. However, Amazon is in the midst of enjoying unparalleled prosperity. Optimistic forecasts sent their stock soaring a week ago. Amazon's stock leapt by 26%, reaching an all-time high, finally eclipsing its high water mark of a decade ago at the peak of the internet bubble. However, one group that may not be able to withstand this fierce competition is the independent bookseller. The American Booksellers Association, their voice, has asked the Justice Department to investigate what it considers predatory pricing. Wal-Mart and Amazon may have the deep pockets to sustain this war, but independent sellers, already struggling through this difficult economy, do not have such leeway.

While cutting the price so low might sound like a positive for the printed book, there is a great risk here. Books cannot be sold below cost forever. The large retailers may push publishers for lower costs. Meanwhile, readers may become accustomed to $9 books. Long term, the only way publishers may be able to cut prices, and buyers continue to get books for $9, will be through electronic copies, with no costs for paper and printing. Crazily cheap pricing could prove to be a dagger in the heart of printed books, even if short term it boosts sales.

Rare Book Monthly

  • <center><b>Gonnelli Auction House<br>Books and Graphics<br>19th, 20th and 21st April 2021</b>
    <b><center>Gonnelli: Apr. 19-21<br>Books from XVI to XX Century</b>
    <b><center>Gonnelli: Apr. 20<br>Atlases and Maps</b
    <b><center>Gonnelli: Apr. 21<br> Veneto and Venice, a Selection of Books from the XVI to XX century</b>
    <b><center>Gonnelli: Apr. 20<br></b>Rossini Gioachino, Baguette de chef d'orchestre appartenuta a Gioachino Rossini, dono del Comune di Passy. 1500 €
    <b><center>Gonnelli: Apr. 21<br></b>Manetti Saverio, Storia naturale degli uccelli trattata con metodo. Cinque volumi. 1767. 18.000 €
    <b><center>Gonnelli: Apr. 21<br></b>Poe Edgar Allan, Double assassinat dans la rue morgue. Illustrations de Cura. 1946.
    <b><center>Gonnelli: Apr. 19-21<br>Books from XVI to XX Century</b>
  • <center><b>Sotheby’s<br>The Passion of American Collectors: Property of Barbara and Ira Lipman<br>Highly Important Printed and Manuscript Americana<br>April 13, 2021</b>
    <b>Sotheby’s, Apr. 13:</b> The first book-form printing of the Declaration of Independence. $250,000 to $350,000.
    <b>Sotheby’s, Apr. 13:</b> (Paine, Thomas) <i>The American Crisis. Number I.</i> "These are the times that try men's souls." $70,000 to $100,000.
    <b>Sotheby’s, Apr. 13:</b> First printing of the Treaty of Paris, with distinguished contemporary provenance. $60,000 to $80,000.
    <center><b>Sotheby’s<br>The Passion of American Collectors: Property of Barbara and Ira Lipman<br>Highly Important Printed and Manuscript Americana<br>April 13, 2021</b>
    <b>Sotheby’s, Apr. 13:</b> Washington, George. Letter signed as first President-Elect. Washington prepares to embark "again on the ocean of publick affairs." $100,000 to $150,000.
    <b>Sotheby’s, Apr. 13:</b> (Hamilton, Alexander). Manuscript document. The launch of one of the most consequential careers in American public life. $180,000 to $250,000.
    <b>Sotheby’s, Apr. 13:</b> (Lexington & Concord). <i>A Bloody Butchery, by the British Troops…</i> $70,000 to $100,000.
    <b>Sotheby’s, Apr. 13:</b> (Yorktown Campaign—Jean-Nicolas Desandrouins). A Yorktown Campaign map from the personal archive of the Comte de Rochambeau. $200,000 to $300,000.
  • <b>Swann Auction Galleries Apr 15:</b> Frances Palmer, <i>Battle of Buena Vista,</i> chromolithograph, New York, 1847. $4,000 to $6,000.
    <b>Swann Auction Galleries Apr 15:</b> Antonio Colmenero de Ledesma, the earliest publication concerned solely with chocolate, first edition, Madrid, 1631. $10,000 to $15,000.
    <b>Swann Auction Galleries Apr 15:</b> Romans Bernard, <i>An Exact View of the Late Battle at Charlestown, June 17th, 1775,</i> engraving, 1776. $40,000 to $60,000.
    <b>Swann Auction Galleries Apr 15:</b> <i>A Short Narrative of the Horrid Massacre in Boston,</i> English edition, London, 1770. $12,000 to $18,000.
    <b>Swann Auction Galleries Apr 15:</b> William Soule, <i>Lodge of the Plains Indians,</i> albumen print, 1872. $1,500 to $2,500.
    <b>Swann Auction Galleries Apr 15:</b> Manuscript document to enforce New York’s “Agreement of Non-Importation” during the heyday of the Sons of Liberty, New York, 1769. $10,000 to $15,000.
    <b>Swann Auction Galleries Apr 15:</b> Clarence Mackenzie, <i>Drummer Boy of the 13th Regiment of Brooklyn,</i> salt print with applied color, 1861. $3,000 to $4,000.
    <b>Swann Auction Galleries Apr 15:</b> Moses Lopez, <i>A Lunar Calendar,</i> first Jewish calendar published in America, Newport, RI, 1806. $3,000 to $4,000.
    <b>Swann Auction Galleries Apr 15:</b><br>The Book of Mormon, first edition, Palmyra, 1830. $30,000 to $40,000.
  • <b><center>Neal Auction Company<br>Spring Estates 2021<br>April 16-18</b>
    <b>Neal Auction Co., Apr. 16:</b> Lyscosthenes, Conrad. <i>Prodigiorum ac ostentorum chronicon,</i> Basilea: Henricus Petrus, c. 1557, first edition, folio. $5,000 to $7,000.
    <b>Neal Auction Co., Apr. 16:</b> Collection of Ethiopic Religious Texts, in Ge'ez , illuminated manuscripts on vellum, c. 1700-20th c. (5 pcs.) $5,000 to $7,000.
    <b>Neal Auction Co., Apr. 16:</b> Augustinus, Aurelius Sanctus.<br><i>De Civitate Dei,</i> Venice: Bonetus Locatellus per Octavianus Scotus, 9 Febbraio, 1486, 4to. $5,000 to $7,000.
    <b><center>Neal Auction Company<br>Spring Estates 2021<br>April 16-18</b>
    <b>Neal Auction Co., Apr. 16:</b> Choiseul-Gouffier, Marie Gabriel Comte de. <i>Voyage Pittoresque de la Grece,</i> Paris, J.J. Blaise, 1782-1809-1822, first edition. $4,000 to $6,000.
    <b>Neal Auction Co., Apr. 16:</b> Rufinus, Tyrannius (c. 345-411). <i>Expositio in symbolum apostolorum,</i> [Cologne, Ulrich Zel, c. 1472], first edition. $3,000 to $5,000.
    <b>Neal Auction Co., Apr. 16:</b> Magnus, Albertus. <i>Summa de eucharistiae sacramento,</i> Ulm: Johann Zainer, 1474. $3,000 to $5,000.
    <b><center>Neal Auction Company<br>Spring Estates 2021<br>April 16-18</b>
    <b>Neal Auction Co., Apr. 16:</b> Strabo. <i>Rerum geographicarum libri septemdecim. A Guilielmo Xylandro Augstano magna cura recogniti…,</i> Basel, Henricpetri, (August 1571). $3,000 to $5,000.
    <b>Neal Auction Co., Apr. 16:</b> Riou, Stephen (1720-1780). <i>The Grecian Orders of Architecture. Delineated and Explained from the Antiquities of Athens,</i> London, 1768. $3,000 to $5,000.
    <b>Neal Auction Co., Apr. 16:</b> Mair, Paul Hektor. <i>Geschlechter Buch...der...Statt Augspurg,</i> Frankfurt am Maim, Sigmund Feyerabend, 1580. $1,800 to $2,500.
    <b><center>Neal Auction Company<br>Spring Estates 2021<br>April 16-18</b>
    <b>Neal Auction Co., Apr. 16:</b> Polybius (c. 200-118 B.C.). <i>Historiarum libri priores quinque,</i> Basel: Johann Herwagen, 1549. $1,200 to $1,800.
    <b>Neal Auction Co., Apr. 16:</b> Bellori, Giovanni Pietro. <i>Columna Antoniniana Marci Aurelii Antonini Augusti rebus gestis insignis Germanis simul...,</i> Rome, [1672]. $1,000 to $1,500.
    <b>Neal Auction Co., Apr. 16:</b> <i>Ecclesiasticae Historiae, Eusebii Pamphili...Eiusdem de vita Constantini...Socratis...,</i> Paris, Robert Estienne, 1544. $800 to $1,200.

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