December is almost always a positive month for book auctions. The best material often comes out in the fourth quarter and it’s bound to achieve high prices even if the outcomes are less than some consignors hope. The median price increased $20 from the October low of $342 but was still well below the $378 median a year earlier. As the 12 Month Moving Average of Median Auction Prices chart shows auction realizations are still caught in the downward trend that dates from February 2008.
The change in Year to Year Change in 12 Month Moving Average however also suggests that the downward trend is leveling out as the difference in year to year comparisons by month is moving back to zero. Before the chart can go positive it has to first escape negative year-to-year comparisons. This aspect looks better although these year-to-year comparisons are getting easier because last year was a weak year. This year’s comparison is still negative but approaching “net no change.”
The sell-through rate remains mired at 68%, an unhealthy level that’s about 7% below the average of the past ten years. This suggests that reserves and buyer willingness to bid are probably about 10% apart. Said another way the minimum prices buyers are willing to pay are, on average, about 10% below current low estimates. Consignors would do well to listen carefully to their auction houses if they suggest lower reserves. Sending something into the rooms means the consignor wants to sell. Not selling in 2011 and trying again next year doesn’t appear, based on the trends, to be a moneymaking strategy. Too much material is in the wings. The selling venues are going to get crowded.
Swann, May 15: Lot 4: Helena Bochoráková-Dittrichová, Z Mého Detství Drevoryty, Prague: Obzina, 1929. First trade edition, signed by the artist. $4,000 to $6,000.
Swann, May 15: Lot 10: Nancy Cunard, Negro Anthology, with a tipped-in A.L.S. to Karl Marx's niece, 1934. First edition. $3,000 to $5,000.
Swann, May 15: Lot 14: Margaret Fuller, Woman in the Nineteenth Century, 1845. First edition. $4,000 to $6,000.
Swann, May 15: Lot 17: Lorraine Hansberry, A Raisin in the Sun, inscribed first edition, 1959. $2,000 to $3,000.
Swann, May 15: Lot 28: Margaret Hill Morris, Private Journal Kept during a Portion of the Revolutionary War, for the Amusement of a Sister, 1836. First edition. $3,000 to $4,000.
Swann, May 15: Lot 38: Anna Sewell, Black Beauty: The Autobiography of a Horse, 1877. First edition. $3,000 to $5,000.
Swann, May 15: Lot 43: Gertrude Stein, Portrait of Mabel Dodge at the Villa Curonia, signed presentation copy with photograph of Stein, 1912. First edition. $8,000 to $12,000.
Swann, May 15: Lot 48: Virginia Woolf, To the Lighthouse, first edition in the scarce dust jacket, 1927. $6,000 to $8,000.
Swann, May 15: Lot 54: Katherine Dunham, large archive of material from her attorney, 1951-53. $20,000 to $30,000.
Swann, May 15: Lot 55: Margaret Fuller Signed Autograph Letter, New York City, 1846. $3,000 to $5,000.
Swann, May 15: Lot 92: Sonia Delaunay, illus. & Tristan Tzara, Juste Present, deluxe edition with original gouache, 1961. $20,000 to $25,000.
Swann, May 15: Lot 93: Flor Garduño, The Sonnets of Shakespeare, 2006. Limited edition. $6,000 to $8,000.
Sotheby's Sell Your Fine Books & Manuscripts
Sotheby’s: The Shem Tov Bible, 1312 | A Masterpiece from the Golden Age of Spain. Sold: 6,960,000 USD
Sotheby’s: Ten Commandments Tablet, 300-800 CE | One of humanity's earliest and most enduring moral codes. Sold: 5,040,000 USD
Sotheby’s: William Blake | Songs of Innocence and of Experience. Sold: 4,320,000 USD
Sotheby’s: The Declaration of Independence | The Holt printing, the only copy in private hands. Sold: 3,360,000 USD
Sotheby's Sell Your Fine Books & Manuscripts
Sotheby’s: Thomas Taylor | The original cover art for Harry Potter and the Philosopher's Stone. Sold: 1,920,000 USD
Sotheby’s: Machiavelli | Il Principe, a previously unrecorded copy of the book where modern political thought began. Sold: 576,000 GBP
Sotheby’s: Leonardo da Vinci | Trattato della pittura, ca. 1639, a very fine pre-publication manuscript. Sold: 381,000 GBP
Sotheby’s: Henri Matisse | Jazz, Paris 1947, the complete portfolio. Sold: 312,000 EUR
Gonnelli Auction 59 Antique prints, paintings and maps May 20th 2025
Gonnelli: Pietro Aquila, Psyche and Proserpina,1690. Starting price 140€
Gonnelli: Jacques Gamelin, Memento homo quia pulvis es et in pulverem reverteris, 1779. Starting price 300€
Gonnelli: Giorgio Ghisi, The final Judgement, 1680. Starting price 480€
Gonnelli Auction 59 Antique prints, paintings and maps May 20th 2025
Gonnelli Goya y Lucientes Francisco, Los Proverbios.1877. Starting price 1000 €
Gonnelli: Domenico Peruzzini, Long bearded old man, 1660. Starting price 2200€
Gonnelli: Enea Vico, Leda and the Swan,1542. Starting price 140€
Gonnelli Auction 59 Antique prints, paintings and maps May 20th 2025
Gonnelli: Andrea Del Sarto [school of], San Giovanni Battista, 1570. Starting price 25000€
Gonnelli: Carlo Maratta, Virgin Mary and Jesus, 1660. Starting Price 1200€
Gonnelli: Louis Brion de La Tour, Sphére de Copernic Sphere de Ptolemée / Le Systême de Ptolemée. Le Systême de Ticho-Brahe…, 1766. Starting price 180€
Gonnelli Auction 59 Antique prints, paintings and maps May 20th 2025
Gonnelli: Marc’Antonio Dal Re, Ville di Delizia o Siano Palaggi Camparecci nello Stato di Milano Divise in Sei Tomi Con espressevi le Piante…, Tomo Primo, 1726. Starting price 7000€
Gonnelli: Katsushika Hokusai, Bird on a branch, 1843. Starting price 100€
![<b>Gonnelli:</b> Andrea Del Sarto [school of], San Giovanni Battista, 1570. Starting price 25000€](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/dc0b1dc0-f7c8-40b6-a5a6-870689484c07.jpg "<b>Gonnelli:</b> Andrea Del Sarto [school of], San Giovanni Battista, 1570. Starting price 25000€")
![<b>Dominic Winter, May 14:</b> Roberts (Henry, after). <i>Chart of the NW Coast of America and NE Coast of Asia ...,</i> [1784]. £500-800](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/033cf239-2b91-4588-aca2-50ad0a9c43b3.jpg "<b>Dominic Winter, May 14:</b> Roberts (Henry, after). <i>Chart of the NW Coast of America and NE Coast of Asia ...,</i> [1784]. £500-800")
![<b>Dominic Winter, May 14:</b> World. Ortelius (Abraham), <i>Typus Orbis Terrarum,</i> [1598]. £2,000-3,000](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/3ecbc3d4-52ef-41c5-8a8d-d4a158a51253.jpg "<b>Dominic Winter, May 14:</b> World. Ortelius (Abraham), <i>Typus Orbis Terrarum,</i> [1598]. £2,000-3,000")
![<b>Dominic Winter, May 14:</b> Bible [English]. [<i>The Holy Bible, Conteyning the Old Testament, and the New...,</i> 1613]. £2,000-3,000](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/fcfb0b9a-4f59-4dc8-87fd-1dfdf90611dc.jpg "<b>Dominic Winter, May 14:</b> Bible [English]. [<i>The Holy Bible, Conteyning the Old Testament, and the New...,</i> 1613]. £2,000-3,000")
