Clearing the Backlog
Weakness at the lower levels of the rare book market is widely discussed. The market tends to take solace from the continuing strength at the upper end while generally avoiding, for lack of a solution, the significant declines below $600. I want to make a proposal. At a guess some 99% of all rare and collectible books are worth $600 or less. Ninety-five percent of these books, maps, pamphlets and ephemera are worth $150 or less. They may once have been worth more but there are too many items and too few buyers to maintain current prices. So how will the market adjust? Were time...