DeWolfe and Wood; brick and mortar bookselling, shows and the web
Prices in the books, manuscripts, map and ephemera markets have generally been falling for some time and there is widespread agreement among dealers that their competitors' books are in trouble. Their own books, thank God, have been spared the battlefield indignities others are apparently suffering. Or so it seems. Sales and prices are randomly falling. It’s a problem and not easily resolved.
To get perspective I spoke with seven dealers.
The world first divides between the unique and valuable and everything else. This article is about the everything else. The unique and valuable are doing fine and about this broad agreement and consistent auction confirmation. Unfortunately there is plenty of the “everything else."
About this material there are two perspectives. The first is that prices always recover and therefore reducing prices is somewhere between unnecessary and foolish. The other advocates adjustments to maintain sales volume and cash flow, these adjustments taking two forms – changes in how we sell and how much we ask. Adjusting prices becomes complicated when, to maintain cash flow, it becomes necessary to sell at prices below one’s cost, something that seems to be happening with increasing regularity. As one dealer said, “the market doesn’t care what I paid.” Advocates for adjustment differ among themselves whether cost or current value should be determining.
A lot is at stake, for some success or failure.
For those wrestling with these questions there are four possible actions. [1] wait it out. [2] reduce prices, [3] adjust the ways I sell, and/or [4] change what I sell.
Auction houses have a substantial advantage in the books, manuscripts, maps and ephemera category because they do not generally own what they sell. They can begin to less like what is slow to sell and learn to love what does. They cannot move too far from the constituencies they serve but can and do lean. Dealers on the other hand have to deal with what they have and that’s a predicament when it isn’t selling. They got into the field because they liked it and for years their material seemed to sell itself. Today it requires better marketing and fresh strategies to sell, even at lower prices, what used to sell regularly.
Sotheby’s Books, Manuscripts and Music from Medieval to Modern Now through July 10, 2025
Sotheby’s, Ending July 10: Book of Hours by the Masters of Otto van Moerdrecht, Use of Sarum, in Latin, Southern Netherlands (Bruges), c.1450. £20,000 to £30,000.
Sotheby’s, Ending July 10: Albert Einstein. Autograph letter signed, to Attilio Palatino, on his research into General Relativity, 12 May 1929. £12,000 to £18,000.
Sotheby’s, Ending July 10: John Gould. The Birds of Europe, [1832-] 1837, 5 volumes, contemporary half morocco, subscriber’s copy. £40,000 to £60,000.
Sotheby’s Books, Manuscripts and Music from Medieval to Modern Now through July 10, 2025
Sotheby’s, Ending July 10: Ian Fleming. A collection of James Bond first editions, 8 volumes in all. £8,000 to £12,000.
Sotheby’s, Ending July 10: J.K. Rowling. Harry Potter and the Philosopher's Stone, 1997, first edition, hardback issue. £50,000 to £70,000.
Sotheby’s, Ending July 10: J.R.R. Tolkien. Autograph letter signed, to Amy Ronald, on Pauline Baynes's map of Middle Earth, 1970. £7,000 to £10,000.
DOYLE, July 23: STOKES, I. N. PHELPS. The Iconography of Manhattan Island, 1498-1909. New York: Robert H. Dodd, 1915-28. Estimate: $3,000-5,000
DOYLE, July 23: [AUTOGRAPH - US PRESIDENT]FRANKLIN D. ROOSEVELT. A signed photograph of Franklin D. Roosevelt. Estimate $500-800
DOYLE, July 23: [ARION PRESS]. ABBOTT, EDWIN A. Flatland. A Romance of Many Dimensions. San Francisco, 1980. Estimate $2,000-3,000.
DOYLE, July 23: TOLSTOY, LYOF N. and NATHAN HASKELL DOLE, translator. Anna Karénina ... in eight parts. New York: Thomas Y. Crowell & Co., [1886]. Estimate: $400-600
DOYLE, July 23: ROWLING, J.K. Harry Potter and the Goblet of Fire. London: Bloomsbury, 2000. Estimate $1,200-1,800
Freeman’s | Hindman Western Manuscripts and Miniatures July 8, 2025
Freeman’s | Hindman, July 8. FRANCESCO PETRARCH (b. Arezzo, 20 July 1304; d. Arqua Petrarca, 19 July 1374). $20,000-30,000.
Freeman’s | Hindman, July 8. CIRCLE OF THE MASTER OF THE VITAE IMPERATORUM (active Milan, 1431-1459). $15,000-20,000.
Freeman’s | Hindman, July 8. CIRCLE OF ATTAVANTE DEGLI ATTAVANTI (GABRIELLO DI VANTE) (active Florence, c. 1452-c. 1520/25). $15,000-20,000.
Freeman’s | Hindman, July 8. FOLLOWER OF HERMAN SCHEERE (active London, c. 1405-1425). $15,000-20,000.
Freeman’s | Hindman, July 8. An exceptionally rare, illuminated music leaf from a Mozarabic Antiphonal with sister leaves mostly in museum collections. $11,500-14,000.
Freeman’s | Hindman, July 8. Exceptional leaf from a prestigious Antiphonary by a leading illuminator of the late Duecento. $11,500-14,000.
Freeman’s | Hindman, July 8. CIRCLE OF THE MASTER OF MS REID 33 and SELWERD ABBEY SCRIPTORIUM (AGNES MARTINI?) (active The Netherlands, Groningen, c. 1468-1510). $10,000-15,000.
Freeman’s | Hindman, July 8. Previously unknown illumination from one of the most renowned Gothic Choir Book sets of the Middle Ages. $6,000-8,000.
![Sotheby’s, Ending July 10: John Gould. The Birds of Europe, [1832-] 1837, 5 volumes, contemporary half morocco, subscriber’s copy. £40,000 to £60,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/64dbb393-4712-4536-a1a6-26d823c523dc.png "<b>Sotheby’s, Ending July 10:</b> John Gould. <i>The Birds of Europe,</i> [1832-] 1837, 5 volumes, contemporary half morocco, subscriber’s copy. £40,000 to £60,000.")
![DOYLE, July 23: [AUTOGRAPH - US PRESIDENT]FRANKLIN D. ROOSEVELT. A signed photograph of Franklin D. Roosevelt. Estimate $500-800](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/4ce5fa1d-1943-4413-a80d-7b5c75383e7e.jpg "<b>DOYLE, July 23:</b> [AUTOGRAPH - US PRESIDENT]FRANKLIN D. ROOSEVELT. A signed photograph of Franklin D. Roosevelt. Estimate $500-800")
![DOYLE, July 23: [ARION PRESS]. ABBOTT, EDWIN A. Flatland. A Romance of Many Dimensions. San Francisco, 1980. Estimate $2,000-3,000.](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/fa635c85-6b12-44f2-8832-2087579574d9.jpg "<b>DOYLE, July 23:</b> [ARION PRESS]. ABBOTT, EDWIN A. <i>Flatland. A Romance of Many Dimensions.</i> San Francisco, 1980. Estimate $2,000-3,000.")
![DOYLE, July 23: TOLSTOY, LYOF N. and NATHAN HASKELL DOLE, translator. Anna Karénina ... in eight parts. New York: Thomas Y. Crowell & Co., [1886]. Estimate: $400-600](https://ae-files.s3.amazonaws.com/AdvertisementPhotos/af9f4e1a-90c2-428c-8d49-9624b070c7a9.jpg "<b>DOYLE, July 23:</b> TOLSTOY, LYOF N. and NATHAN HASKELL DOLE, translator. <i>Anna Karénina ... in eight parts.</i> New York: Thomas Y. Crowell & Co., [1886]. Estimate: $400-600")
