• Swann, Nov. 21: Lot 37: Archive of the pioneering woman artist Arrah Lee Gaul, most 1911-59. $3,000 to $4,000.
    Swann, Nov. 21: Lot 66: Letter describing the dropping water level at Owens Lake near Death Valley, long before it was drained, Keeler, CA, 26 July 1904. $3,000 to $4,000
    Swann, Nov. 21: Lot 102: To Horse, To Horse! My All for a Horse! The Washington Cavalry, illustrated Civil War broadside, Philadelphia, 1862. $4,000 to $6,000
    Swann, Nov. 21: Lot 135: Album of cyanotype views of the Florida panhandle and beyond, 224 photographs, 174 of them cyanotypes, Apalachicola, FL and elsewhere, circa 1895-1896. $1,200 to $1,800
    Swann, Nov. 21: Lot 154: Catalogue of the Library of the United States, as acquired from Thomas Jefferson, Washington, 1815. $15,000 to $25,000
    Swann, Nov. 21: Lot 173: New Englands First Fruits, featuring the first description of Harvard in print, London, 1643. $40,000 to $60,000
    Swann, Nov. 21: Lot 177: John P. Greene, Original manuscript diary of a mission to western New York with Joseph Smith, 1833. $60,000 to $90,000
    Swann, Nov. 21: Lot 243: P.E. Larson, photographer, Such is Life in the Far West: Early Morning Call in a Gambling Hall, Goldfield, NV, circa 1906. $2,500 to $3,500
    Swann, Nov. 21: Lot 261: Fred W. Sladen, Diaries of a WWII colonel commanding troops from Morocco to Italy to France, 1942-44. $3,000 to $4,000
    Swann, Nov. 21: Lot 309: Los mexicanos pintados por si mismos, por varios autores, a Mexican plate book. Mexico, 1854-1855. $2,000 to $3,000
    Swann, Nov. 21: Lot 8: Diaries of a prospector / trapper in the remote Alaska wilderness, 5 manuscript volumes. Alaska, 1917-64. $1,500 to $2,500.
  • Finarte, Nov 20-21: Alighieri, Dante - La Commedia, [col commento di Jacopo della Lana e Martino Paolo Nidobeato, curata da Martino Paolo Nidobeato e Guido da Terzago. Aggiunto Il Credo], 1478
    Finarte, Nov 20-21: Alighieri, Dante - La Commedia [Commento di Christophorus Landinus, edita da Piero da Figino. Aggiunte le Rime diverse; Marsilius Ficinius, Ad Dantem gratulatio], 1491
    Finarte, Nov 20-21: Lactantius, Lucius Coelius Firmianus - Opera, 1465
    Finarte, Nov 20-21: Alighieri, Dante - Le terze rime di Dante, 1502
    Finarte, Nov 20-21: Boccaccio, Giovanni - Il Decamerone. Di messer Giouanni Boccaccio, 1516
    Finarte, Nov 20-21: Giordano Bruno - Candelaio comedia del Bruno nolano achademico di nulla achademia; detto il fastidito. In tristitia hilaris: in hilaritate tristis, 1582
    Finarte, Nov 20-21: Petrarca, Francesco - Le cose volgari di Messer Francesco Petrarcha, 1504
    Finarte, Nov 20-21: Legatura - Manoscritto - Medici - Cosimo III de' Medici / Solari, Giuseppe - I Ritratti Medicei overo Glorie e Grandezze della sempre sereniss. Casa Medici..., 1678
    Finarte, Nov 20-21: Alighieri, Dante - La Divina Commedia di Dante Alighieri con varie annotazioni, e copiosi Rami adornata, 1757
    Finarte, Nov 20-21: Lot containing 80 printed guides and publications dedicated to travel and itineraries in Italy
  • Old World Auctions (Nov 6-20):
    Lot 51. Ortelius' Influential Map of the New World - Second Plate in Full Contemporary Color (1579) Est. $5,500 - $6,500
    Old World Auctions (Nov 6-20):
    Lot 165. Reduced-Size Edition of Jefferys/Mead Map with Revolutionary War Updates (1776) Est. $4,750 - $6,000
    Old World Auctions (Nov 6-20):
    Lot 688. Blaeu's Superb Carte-a-Figures Map of Africa (1634) Est. $3,000 - $3,750
    Old World Auctions (Nov 6-20):
    Lot 105. Striking Map of French Colonial Possessions (1720) Est. $2,750 - $3,500
    Old World Auctions (Nov 6-20):
    Lot 98. Rare First Edition of the First Published Plan of a Settlement in North America (1556) Est. $3,000 - $3,750
    Old World Auctions (Nov 6-20):
    Lot 181. Important Map of the Georgia Colony (1748) Est. $2,750 - $3,500
    Old World Auctions (Nov 6-20):
    Lot 547. Ortelius' Map of Russia with a Vignette of Ivan the Terrible in Full Contemporary Color (1579) Est. $1,400 - $1,700
    Old World Auctions (Nov 6-20):
    Lot 85. Homann's Decorative Map of Colonial America (1720) Est. $1,600 - $1,900
    Old World Auctions (Nov 6-20):
    Lot 642. Blaeu's Magnificent Carte-a-Figures Map of Asia (1634) Est. $3,000 - $3,750
    Old World Auctions (Nov 6-20):
    Lot 748. The Martyrdom of St. John in Contemporary Hand Color with Gilt Highlights (1520) Est. $1,000 - $1,300
    Old World Auctions (Nov 6-20):
    Lot 298. Scarce Early Map of Chester County (1822) Est. $2,750 - $3,500
  • 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

Rare Book Monthly

Articles - February - 2017 Issue

Auction Prices for Books and Paper Rose 1.5% in 2016

Prices at auction for lots in the book and paper field inched up 1.5% in 2016. In a year that was most notable for looking essentially like the year before, the median price rose from $266 to $270. The average price dropped an infinitesimal $19 from $2,030 in 2015 to $2,011 in 2016. That represents a decline of less than one-tenth of one percent. For reasons explained in the footnote below*, median price is a better gauge of the market than average.

 

Even a small increase will be welcome news to those in the trade. It's well known that book prices have been under pressure, with last year experiencing a 7% decline. That came after several years of recovery following the recession of 2008. Last year's performance brought us back to prices roughly equivalent to 2013, well above those of 2008-9, but still lower than 2007.

 

It should be noted that the field of collecting is changing, with greater numbers of related paper items – manuscripts, maps, prints, photographs – appearing in "book" auctions today. Likewise, many dealers have expanded their inventory to include these items. Our numbers do not break out books vs. other forms of paper so we cannot say precisely what has happened to book prices alone, but the slight decline in lots offered in the field in 2016, combined with the growing presence of other forms of paper, shows a modest decline in the number of books being sold at traditional auctions this past year.

 

There was a modest decline in lots offered in the field, and a small drop in the sell-through rate as well. Lots offered declined by 17,000 to 406,000, 4% fewer than in 2015. Of these, 295,000 sold. That represents a sell-through rate of 72.7%, off slightly from 73.4% the previous year. The price range of those sold lots was virtually identical to 2015. Those sold in the $0-$250 range represented 48% of the total, down from 49%, those priced $251-$1,000 were 31%, up from 30%, while those priced $1,000 and above were 21%, the same as before.

 

Sales above the high estimate regularly come in greater than sales below the low estimate, and that was true again in 2016. However, the ratio between the two barely moved from the previous year. In 2015, 59% of the lots sold for above the high estimate, 22% below the low estimate. In 2016, 58% sold above the high estimate, 23% below the low estimate. Once again, 19% were estimated right. You might think auction houses are deliberately underestimating prices. However, if you consider lots unsold as being the equivalent of those selling for under the low estimate, a fair comparison, the ratio looks very different. In this case, only 42% sold above the high estimate, while 44% "sold" for less than the low estimate. The balance was just about right.

 

The fourth quarter of the year has always been the busiest season at auction, but not this time. For the first time since we have been monitoring sales early in this century, the second quarter was as busy as the fourth. However, November remains the most active month for sales. Thirteen percent of all sales took place in November. At the other end of the spectrum, August is traditionally the slowest month, and that was true again in 2016, with only 4% of lots sold in that late summer month.

 

The highest median price was achieved at Christie's London-King Street, where the midpoint was $9,763. This was the first time in a while that no location reached a median in five figures. The top spots, as usual, were dominated by Christie's and Sotheby's, who only handle the most exclusive of material. For those on a more limited budget, numerous houses had medians under $100. In America, National Book provides a large number of budget-priced lots, in Paris there's Vermot de Pas, in Brussels Ferraton. And there is always the classic Lancaster Mennonite Historical Society auctions where you could have purchased half the lots for under $14.

 

This report, along with last month's account of the Top 500 prices paid at auction, completes our review of 2016. For a look at the Top 500, click here.

 

 

*We use median price, the price at which 50% of the lots sold for more, and 50% sold for less, rather than average price as the average can be skewed by a very small number of extremely high priced items. For example, if the Old South Church of Boston had sold its copy of the Bay Psalm Book, which sold for $14 million, in 2016 instead of 2013, it alone would have added $47 to the average of every book sold, resulting in an increase in the average price of $28, instead of a decrease of $19.

Rare Book Monthly

  • 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
  • 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€

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