Rare Book Monthly

Articles - April - 2010 Issue

New York State Considers (Weakened) Auction Regulations

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When the earlier version was proposed in 2007, several auction houses voiced objections. Sotheby's warned that houses would move a substantial number of sales to London, and that bidders were aware of these practices anyway. However, if bidders were aware of these practices, we don't understand why this provision would be objectionable, as they rely on bidders' lack of understanding to be effective. If the auction houses would move a lot of sales from their natural location just to allow for "sham" bidding, the presumption is the practice must be very effective. That is unfortunate.

Basically, while "sham" bidding may be an old and venerable process, and many bidders may realize it is going on, its basic purpose is deception. Our own belief is that the previous requirement to notify bidders that a bid was "for the consignor" was better than no notification, and outright prohibition of the practice would be better still. Whatever the short term gains, buyers can become disenchanted with a process that employs deception, particularly if it leads them to overbid on an item. Venues that are perceived as being open and honest, as well as providing good value, are more likely, in our opinion, to prosper. We see the watering down of this provision as a squandered opportunity for auction houses to afford their customers greater confidence in the process while preventing wayward houses from gaining an unfair advantage, or hurting the reputation of auctions in general.

Most of the other provisions in Brodsky's earlier bill remain intact. One requires auction houses to disclose at the beginning of an auction whether some bidders have been offered loans. The idea here is that those with credit may push prices higher than they would without this benefit, though we imagine such a statement at the beginning of an auction will not have much more effect than fine print on a contract. Auctioneers are to be held responsible for the truth of statements in their catalogues, while consignors must warrant lawful title. Auctions must reimburse purchasers their bids if it turns out they have not received transferable title. Auctioneers must disclose whether they have a financial interest in an article. Prospective buyers must be allowed to inspect merchandise before sales, while auction houses must pay consignors within 14 days. That may prove a bit tight where there are a lot of consignors in an auction, but should help prevent a weak house from using the consignors' proceeds as a bridge loan to the next auction.

A copy of the summary and complete bill may be found on the New York Assembly website by clicking here now. It should be noted that this bill has passed the New York State Assembly before, only to die in the Senate, so there is no guarantee this one won't meet the same fate.

Rare Book Monthly

  • <center><b>iGavel Auctions<br>Antiquarian and Other Books<br>September 14 – October 12</b>
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Athanasius. <i>Illustrium Virorum Opuscula,</i> Paris, 1500. $4,000 to $6,000.
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> <i>The New Testament of Jesus Christ, Translated Faithfully into English,</i> Rheims, John Fogny, 1582. $3,000 to $5,000.
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Stith, William. <i>The First History of Virginia printed in America,</i> [Williamsburg, 1747]. $2,500 to $3,500.
    <center><b>iGavel Auctions<br>Antiquarian and Other Books<br>September 14 – October 12</b>
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b><br>S. Bonaventure. <i>Commentarius in Secundum Librum Sententiarum Petri Lombardi,</i> Venice, 1477. $2,000 to $4,000.
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Juvenalis, Junii. <i>Satyrae,</i> with the commentary of Domitius Calderinus, Venice, 1475. $2,000 to $4,000.
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Horatius Flaccus, Quintus. <i>Opera.</i> Ed. with commentary of Christophorus Landinus, Florence, 1482. $2,000 to $4,000.
    <center><b>iGavel Auctions<br>Antiquarian and Other Books<br>September 14 – October 12</b>
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Scotus, Duns. <i>Quaestiones in Quattuor Libros Sententiarum,</i> 1476-1477. $2,000 to $4,000.
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Polidori, John. <i>The Vampyre, A Tale,</i> Paris, 1819. $1,000 to $2,000.
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Stowe, Harriet Beecher. <i>Uncle Tom's Cabin,</i> Vol. I and II, 1852, and a Later Edition, 1885. $2,000 to $3,000.
    <center><b>iGavel Auctions<br>Antiquarian and Other Books<br>September 14 – October 12</b>
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Twain, Mark. <i>The Adventures of Tom Sawyer,</i> 1877 [and] <i>The Adventures of Huckleberry Finn,</i> 1885. $2,000 to $3,000.
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> Book of Hours, Illuminated Vellum, Calendar of Months, 15th century. $600 to $900.
    <b>iGavel Auctions, Sep. 14 – Oct. 12:</b> <i>Picturesque,</i> America, Europe, Palestine, and Russia, 1872-1885. $400 to $600.
  • <b>Swann Auction Galleries:</b> C.F. Payne, <i>Micawber—Imitating Norman Rockwell's "Triple self-portrait,"</i> acrylic, watercolor & colored pencil, 2002. Sold June 2021 for $3,000.
    <b>Swann Auction Galleries:</b> Jane Russell, archive of letters written during a whaling voyage, 1840s. Sold July 2021 for $30,000.
    <b>Swann Auction Galleries:</b> Guild of Women Binders, exhibition binding of A.F. Pollard’s <i>Henry VIII,</i> London, 1902. Sold July 2021 for $12,350.
    <b>Swann Auction Galleries:</b> Robert Frost, <i>Collected Poems,</i> author’s presentation copy, signed, with entirety of <i>Stopping by Woods on a Snowy Evening</i> inscribed, NY, 1930. Sold June 2021 for $20,000.
    <b>Swann Auction Galleries:</b> James Joyce, <i>Ulysses,</i> deluxe limited issue, signed, London, 1936. Sold June 2021 for $21,250.
    <b>Swann Auction Galleries:</b> Mercator [family], <i>[World and Continents],</i> 5 double-page maps, Amsterdam, c. 1633. Sold June 2021 for $15,000.
    <b>Swann Auction Galleries:</b> George Schlegel, <i>New York, Taken from Central Park,</i> hand-finished color-tinted lithograph, 1874. Sold June 2021 for $11,250.
    <b>Swann Auction Galleries:</b> Nicolaus Copernicus, <i>De Revolutionibus Orbium Coelestium,</i> second edition, Basel, 1566. Sold April 2021 for $75,000.
    <b>Swann Auction Galleries:</b> Book of Hours, Use of Utrecht, illuminated manuscript, c. 1435-45. Sold April 2021 for $60,000.
  • <b><center>Forum Auctions<br>Fine Books, Manuscripts<br>& Works on Paper<br>30th September 2021</b>
    <b>Forum Auctions, Sep. 30:</b> Bible, English. The Holy Bible, Second Folio edition, the "Great She Bible", engraved More-Speed 1611 map of Canaan, Robert Barker, 1613-11. £7,000 to £10,000.
    <b>Forum Auctions, Sep. 30:</b> Galilei (Galileo). <i>Opere,</i> 2 vol., first collected edition, Bologna, Heirs of Dozza for Carlo Manolessi, 1656-1655. £4,000 to £6,000.
    <b>Forum Auctions, Sep. 30:</b> Venetian choirbook.- Single leaf from a 13th century Venetian antiphonal, with large decorated initial, manuscript on vellum, Venice, [c.1260]. £6,000 to £8,000.
    <b><center>Forum Auctions<br>Fine Books, Manuscripts<br>& Works on Paper<br>30th September 2021</b>
    <b>Forum Auctions, Sep. 30:</b> Petrarca (Francesco). <i>Rerum vulrgarium fragmenta,</i> decorated manuscript on paper, Italy, [second half of the 15th century]. £8,000 to £12,000.
    <b>Forum Auctions, Sep. 30:</b> New York School of abstract expressionists.- Abbott (Mary Lee). [Sketch book of original artwork], [New York], 1945. £5,000 to £7,000.
    <b>Forum Auctions, Sep. 30:</b> Contemporary colouring.- Nitzschewitz (Hermannus). <i>Novum beatae Mariaevirginis psalterium,</i> Zinna, Press of the Cistercian Monastery, 1493. £4,000 to £6,000.
    <b><center>Forum Auctions<br>Fine Books, Manuscripts<br>& Works on Paper<br>30th September 2021</b>
    <b>Forum Auctions, Sep. 30:</b> Shakespeare source book.- Montemayor (Jorge de). Diana of George of Montemayor: translated out of Spanish into English by Bartholomew Yong, first edition in English, B[ishop]., 1598. £6,000 to £8,000.
    <b>Forum Auctions, Sep. 30:</b> Milton (John). Poems of Mr. John Milton, Both English and Latin, Compos'd at several times, first edition, state with "S" in "S. Pauls" in imprint, 1645. £12,000 to £18,000.
    <b>Forum Auctions, Sep. 30:</b> Greene (Graham). <i>The Power and the Glory,</i> first edition, 1940. £6,000 to £8,000.
    <b><center>Forum Auctions<br>Fine Books, Manuscripts<br>& Works on Paper<br>30th September 2021</b>
    <b>Forum Auctions, Sep. 30:</b> Crowley (Aleister). View of the Tyrrhenian Sea, probably from the hill behind the abbey of Thelema, Cefalù, Sicily, charcoal, [1921]. £10,000 to £15,000.
    <b>Forum Auctions, Sep. 30:</b> Fleming (Ian). <i>Casino Royale,</i> first edition, 1953. £12,000 to £18,000.
    <b>Forum Auctions, Sep. 30:</b> China.- Thomson (John). <i>Illustrations of China and Its People,</i> 4 vol., first edition, 96 photographic plates, 1873-74. £15,000 to £20,000.

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