• Sotheby's
    Fine Books, Manuscripts & More
    Available for Immediate Purchase
    Sotheby’s: J.R.R. Tolkien. The Lord of the Rings Trilogy. 11,135 USD
    Sotheby’s: Edgar Allan Poe. The Raven and Other Poems, 1845. 33,000 USD
    Sotheby’s: Leo Tolstoy, Clara Bow. War and Peace, 1886. 22,500 USD
    Sotheby’s: Sir Arthur Conan Doyle. Adventures of Sherlock Holmes, 1902. 7,500 USD
    Sotheby’s: F. Scott Fitzgerald. This Side of Paradise, The Great Gatsby, and Others, 1920-1941. 24,180 USD
  • Doyle, Dec. 5: Minas Avetisian (1928-1975). Rest, 1973. $8,000 to $12,000.
    Doyle, Dec. 5: Anna Vaughn Hyatt Huntington (1876-1973). Yawning Tiger, conceived 1917. $3,000 to $5,000.
    Doyle, Dec. 5: Robert M. Kulicke (1924-2007). Full-Blown Red and White Roses in a Glass Vase, 1982. $3,000 to $5,000.
    Doyle, Dec. 5: Pablo Picasso (1881-1973). L’ATELIER DE CANNES (Bloch 794; Mourlot 279). The cover for Ces Peintres Nos Amis, vol. II. $1,000 to $1,500.
    Doyle, Dec. 5: LeRoy Neiman (1921-2012). THE BEACH AT CANNES, 1979. $1,200 to $1,800.
    Doyle, Dec. 5: Richard Avendon, the suite of eleven signed portraits from the Avedon/Paris portfolio. $150,000 to $250,000.
    Doyle, Dec. 5: Robert Mapplethorpe (1946-1989). Flowers in Vase, 1985. $20,000 to $30,000.
    Doyle, Dec. 5: Edward Weston (1886-1958). Nude, 1936. $20,000 to $30,000.
    Doyle, Dec. 5: Edward Weston (1886-1958). Juniper, High Sierra, 1937.
    Doyle, Dec. 5: Steven J. Levn (b. 1964). Plumage II, 2011. $6,000 to $8,000.
    Doyle, Dec. 5: Steven Meisel (b. 1954). Madonna, Miami, (from Sex), 1992. $6,000 to $9,000.
  • Gonnelli:
    Auction 55
    Antique prints, paintings and maps
    November 26st 2024
    Gonnelli: Stefano Della Bella, 23 animal plances,1641. Starting price 480€
    Gonnelli: Stefano Della Bella, Boar Hunt, 1654. Starting price 180€
    Gonnelli: Crispijn Van de Passe, The seven Arts, 1637. Starting price 600€
    Gonnelli: Giuseppe Maria Mitelli, La Maschera è cagion di molti mali, 1688. Starting price 320€
    Gonnelli: Biribissor’s game, 1804-15. Starting price 2800€
    Gonnelli: Nicolas II de Larmessin, Habitats,1700. Starting price 320€
    Gonnelli: Miniature “O”, 1400. Starting price 1800€
    Gonnelli: Jan Van der Straet, Hunt scenes, 1596. Starting Price 140€
    Gonnelli: Massimino Baseggio, Costantinople, 1787. Starting price 480€
    Gonnelli: Kawanabe Kyosai, Erotic scene lighten up by a candle, 1860. Starting price 380€
    Gonnelli: Duck shaped dropper, 1670. Starting price 800€
  • Doyle, Dec. 6: An extensive archive of Raymond Chandler’s unpublished drafts of fantasy stories. $60,000 to $80,000.
    Doyle, Dec. 6: RAND, AYN. Single page from Ayn Rand’s handwritten first draft of her influential final novel Atlas Shrugged. $30,000 to $50,000.
    Doyle, Dec. 6: Ernest Hemingway’s first book with interesting provenance. Three Stories & Ten Poems. $20,000 to $30,000.
    Doyle, Dec. 6: Hemingway’s second book, one of 170 copies. In Our Time. $15,000 to $25,000.
    Doyle, Dec. 6: A finely colored example of Visscher’s double hemisphere world map, with a figured border. $12,000 to $18,000.
    Doyle, Dec. 6: Raymond Chandler’s Olivetti Studio 44 Typewriter. $10,000 to $20,000.
    Doyle, Dec. 6: Antonio Ordóñez's “Suit of Lights” owned by Ernest Hemingway. $10,000 to $20,000.
    Doyle, Dec. 6: A remarkable Truman archive featuring an inscribed beam from the White House construction. $8,000 to $12,000.
    Doyle, Dec. 6: The fourth edition of Audubon’s The Birds of America. $8,000 to $12,000.
    Doyle, Dec. 6: The original typed manuscript for Chandler’s only opera. The Princess and the Pedlar: An Entirely Original Comic Opera. $8,000 to $12,000.
    Doyle, Dec. 6: A splendidly illustrated treatise on ancient Peru and its Incan civilization. $7,000 to $10,000.
    Doyle, Dec. 6: A superb copy of Claude Lorrain’s Liber Veritatis from Longleat House. $5,000 to $8,000.

Rare Book Monthly

Articles - May - 2011 Issue

Emotionally Satisfying Investments:  Works on Paper

If dealers acquire a hundred books, they make their money on six and shelve the rest.  The remainder is in most cases going to lose value.  Many dealers understand this and are reducing prices to reflect what they see online.  This helps but few expect this inventory to change hands soon.  There is simply too much of it and more are posted every day.  It seems likely this imbalance will not be resolved until prices drop enough to induce buyers to step in.  Until then the market will have a sell-side bias. 

One way to reduce inventory risk is to emphasize more valuable material and many dealers are doing this.  But given that dealers may hold inventory for five or ten years, the possibility for protracted decline, even among the materials thought to be strong, represents significant risk.  The response of some:  shorten inventory.  It makes sense, but if practiced widely wipes out the sell-back-to-dealers strategy that has sustained the market for lower value collectible books for three generations.  There may simply be too much risk to pay much anymore.

We do know something about why the market is weakening.

[1] We have never experienced the surplus of material we are seeing today.  The listing sites are packed and more material, stored for decades, stuffed into attics and basements, is coming out.  It turns out that belief in the value of books is an old and widely held idea.  No one threw books away and now they are here to haunt us.

[2] The content of many old books is now on line in Google Books.  Did you want the book or its content?  If its the content its much easier [and free] to run full text searches on line.  You can of course then try to locate a copy but more often than not Google Books seems to answer questions and dampen interest in actual copies.


Posted On: 2011-05-02 00:00
User Name: leigh

Whether books are a good investment is off the point. The question is whether it is a business. There are a number of people who consider it there live


Posted On: 2011-05-03 00:00
User Name: wormandcandy

Value is a concept. Books, portable recepticals of information, are now obsolete due to electronical storage/retrieval - altho a lot of info is


Posted On: 2011-05-03 00:00
User Name: PeterReynolds

I'm sure there will come a time when people will say "Wow! I've never seen one of those except on the computer/phone" and want to own the physic


Rare Book Monthly

  • ALDE
    Bibliothèque médicale Arthur Tatossian
    December 11, 2024
    ALDE, Dec. 11: ALBINUS (BERNHARD SIEGFIED). Tabulæ Sceleti et Musculorum corporis humanum, Londres, 1749. €4,000 to €5,000.
    ALDE, Dec. 11: BIDLOO (GOVARD). Anatomia humani corporis. Centum et quinque tabulis per artificiosiss. G. de Lairesse..., Amsterdam, 1685.
    ALDE, Dec. 11: BOURGERY (JEAN-MARC) – JACOB (NICOLAS-HENRI). Traité complet de l’anatomie de l’Homme comprenant la médecine opératoire, Paris, 1832. €4,000 to €5,000.
    ALDE
    Bibliothèque médicale Arthur Tatossian
    December 11, 2024
    ALDE, Dec. 11: CALDANI (LEOPOLDO MARCANTONIO ET FLORIANO). Icones anatomicae, Venice, 1801-14. €5,000 to €6,000.
    ALDE, Dec. 11: CARSWELL (ROBERT). Pathological Anatomy. Illustrations of the elementary forms of disease, London, 1838. €5,000 to €6,000.
    ALDE, Dec. 11: CASSERIUS (JULIUS) [GIULIO CASSERIO]. De vocis auditusq. organis historia anatomica singulari fide methodo ac industria concinnata tractatis duobus explicate, Ferrara, 1600-1601. €4,000 to €5,000.
    ALDE
    Bibliothèque médicale Arthur Tatossian
    December 11, 2024
    ALDE, Dec. 11: ESTIENNE (CHARLES). De dissectione partium corporis humani libri tres, Paris, 1545. €8,000 to €10,000.
    ALDE, Dec. 11: GAMELIN (JACQUES). Nouveau Recueil d'Ostéologie et de Myologie dessiné d'après nature... pour l’utilité des sciences et des arts, divisé en deux parties, Toulouse, 1779. €6,000 to €8,000.
    ALDE, Dec. 11: ROESSLIN (EUCHER). Des divers travaux et enfantemens des femmes et par quel moyen l'on doit survenir aux accidens…, Paris, 1536. €3,000 to €4,000.
    ALDE
    Bibliothèque médicale Arthur Tatossian
    December 11, 2024
    ALDE, Dec. 11: RUYSCH (FREDERICK). Thesaurus anatomicus - Anatomisch Cabinet, Amsterdam, 1701-1714. €3,000 to €4,000.
    ALDE, Dec. 11: VALVERDE (JUAN DE). Anatome corporis humani. Nunc primum a Michaele Michaele Columbo latine reddita, et additis novis aliquot tabulis exornata, Venetiis, 1589. €2,000 to €3,000.
    ALDE, Dec. 11: VESALIUS (ANDREAS). De humani Corporis Fabrica libri septem, Venetiis, 1568. €3,000 to €4,000.
  • Ketterer Rare Books
    Auction November 25th
    Ketterer Rare Books, Nov. 25:
    H. Schedel, Liber chronicarum, 1493. Est: € 25,000
    Ketterer Rare Books, Nov. 25:
    P. O. Runge, Farben-Kugel, 1810. Est: € 8,000
    Ketterer Rare Books, Nov. 25:
    W. Kandinsky, Klänge, 1913. Est: € 20,000
    Ketterer Rare Books
    Auction November 25th
    Ketterer Rare Books, Nov. 25:
    W. Burley, De vita et moribus philosophorum, 1473. Est: € 4,000
    Ketterer Rare Books, Nov. 25:
    M. B. Valentini, Viridarium reformatum seu regnum vegetabile, 1719. Est: € 12,000
    Ketterer Rare Books, Nov. 25:
    PAN, 10 volumes, 1895-1900. Est: € 15,000
    Ketterer Rare Books
    Auction November 25th
    Ketterer Rare Books, Nov. 25:
    J. de Gaddesden, Rosa anglica practica medicinae, 1492. Est: € 12,000
    Ketterer Rare Books, Nov. 25:
    M. Merian, Todten-Tanz, 1649. Est: € 5,000
    Ketterer Rare Books, Nov. 25:
    D. Hammett, Red harvest, 1929. Est: € 11,000
    Ketterer Rare Books
    Auction November 25th
    Ketterer Rare Books, Nov. 25:
    Book of hours, Horae B. M. V., 1503. Est: € 9,000
    Ketterer Rare Books, Nov. 25:
    J. Miller, Illustratio systematis sexualis Linneai, 1792. Est: € 8,000
    Ketterer Rare Books, Nov. 25:
    F. Hundertwasser, Regentag – Look at it on a rainy day, 1972. Est: € 8,000
  • High Bids Win
    Letterpress & Bindery Auction
    Nov. 20 – Dec. 5, 2024
    High Bids Win, Nov. 20 – Dec. 5: Book Press 10 1/2× 15 1/4" Platen , 2 1/2" Daylight.
    High Bids Win, Nov. 20 – Dec. 5: The Tubbs Mfg Co. wooden-type cabinet 27” w by 37” h by 22” deep.
    High Bids Win, Nov. 20 – Dec. 5: G.P.Gordon printing press 7” by 11” with treadle. Needs rollers, trucks, and grippers. Missing roller spring.
    High Bids Win
    Letterpress & Bindery Auction
    Nov. 20 – Dec. 5, 2024
    High Bids Win, Nov. 20 – Dec. 5: D & C Ventris curved wood type 2” tall 5/8” wide.
    High Bids Win, Nov. 20 – Dec. 5: Wood Type 1 1/4” tall.
    High Bids Win, Nov. 20 – Dec. 5: Quarter Case with Lead Triangles.
    High Bids Win
    Letterpress & Bindery Auction
    Nov. 20 – Dec. 5, 2024
    High Bids Win, Nov. 20 – Dec. 5: Page & Co wood type 1 1/4” tall 1/4” wide.
    High Bids Win, Nov. 20 – Dec. 5: Awt 578 type hi gauge.
    High Bids Win, Nov. 20 – Dec. 5: Quarter Case with Lead Penline Flourishes.
    High Bids Win
    Letterpress & Bindery Auction
    Nov. 20 – Dec. 5, 2024
    High Bids Win, Nov. 20 – Dec. 5: Quarter Case with Lead Penline Flourishes.
    High Bids Win, Nov. 20 – Dec. 5: Quarter Case with Lead Cents and Pound Signs.
    High Bids Win, Nov. 20 – Dec. 5: Wooden type cabinet 27” w by 19” d by 38” h.

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