Auction Prices for Books and Paper Dipped by 1% in 2017
- by Michael Stillman
Prices at auction for lots in the books and paper field took a modest dip in 2017. The median price slipped from $270 to $267, or 1.1%. It nearly wiped out last year's almost as modest 1.5% increase. On the other hand, the average price dropped more sharply, from $2,011 to $1,859, but this is not a very meaningful figure. It takes only one or two books at several millions to greatly skew the average price, and 2017 was a year without any blockbuster sales.
The number of lots sold at auction increased by 5.8% last year. There were 312,154 lots we tracked sold in 2017, vs. 295,143 in 2016. That is an increase of about 17,000 lots sold. Around 12,000 more lots were offered, indicating an increase in the sell-through rate as well. The sales rate for 2017 was 74.7%, vs. 72.7% the previous year. A 2% increase in the sell-through rate is substantial, and perhaps the small decrease in the median price reflects a willingness to take a little less to make a sale.
The percentage of books sold by price range was identical to 2016. Once again, 24% of the lots were priced below $100, 79% below $1,000. At the other end, 21% were above $1,000, 6% above $5,000, and 3% above $10,000.
The ratio of lots sold over the high estimate to lots sold below the low estimate was almost unchanged. A total of 58% of the lots sold went for more than the high estimate, while only 24% sold for under the low estimate. However, if you add lots unsold to the ones sold below the low estimate, the numbers are virtually identical. There were 179,958 lots that sold either below the low estimate or not at all, and 179,920 that sold above the high estimate. That is 44% of all lots offered for each, leaving 12% that were priced correctly!
The fourth quarter of the year has traditionally been the busiest time of year, though in 2016, the second quarter matched the fourth in terms of lots offered. In 2017, the auction houses reverted to form, with 34.3% of all lots offered in the fourth quarter vs. 28.9% in the second quarter. That was just as well as the sell-through rate was 74.9% for the fourth quarter vs. only 70.8% for the second quarter. As is usually the case, November was the busiest month. There were 56,656 lots offered, or 13.6% of the lots offered for the year. Sell-through was a robust 77%. August was again the slowest month, with just 17,676 lots offered, or only 4.2% of the total. However, the sell-through rate for August was the highest of the year at 80%. That is a surprise considering most people are expected to be on vacation.
Again following form, the highest median prices were achieved at the various branches of Sotheby's and Christie's. Highest overall, at an even $10,000, was the New York branch of Sotheby's. However, if prices at that level are a bit rich for the average buyer, there were 11 auction houses that offered more than 1,000 lots where the median was under $100. For the lowest of the low, check out the sales at the Lancaster Mennonite Historical Society. They won't break your budget, with a median of $12. In other words, half of their sold items went for less than $12. 98% sold for under $100. As for volume of lots sold, the runaway leader is Heritage Auctions' Dallas location. They sold 92,718 lots. The distant runner up was Kiefer Buch of Germany with 10,459.
Last month, we reported on the top 500 most expensive lots sold at auction in 2017. That report can be found by clicking here.
Doyle The Collection of Mary Tyler Moore June 4, 2025
DOYLE: Peter Max, Portrait of Mary Tyler Moore (Versions 1,2, 5, 6), 2001. Estimate $10,000-15,000
DOYLE: The iconic screen-used wall-mounted "M" from The Mary Tyler Moore Show. Estimate $5,000-8,000
DOYLE: The Mary Tyler Moore Show by Al Hirschfeld. Estimate $4,000-6,000
Doyle The Collection of Mary Tyler Moore June 4, 2025
DOYLE: Annie Leibovitz presents Mary Tyler Moore and Dick Van Dyke for Vanity Fair. Estimate $4,000-6,000
DOYLE: Al Hirschfeld presents Mary Tyler Moore and Dick Van Dyke in the CBS Wednesday Night Lineup. Estimate $4,000-6,000
DOYLE: Richard McKenzie, Portrait of Mary Tyler Moore. Estimate $1,000-2,000
Doyle The Collection of Mary Tyler Moore June 4, 2025
DOYLE: Three Original Bill Hargate Costume Designs for The Mary Tyler Moore Hour. Estimate $600-800
DOYLE: The famous Bonnie and Clyde "Wanted" broadside. Estimate $500-800
DOYLE: Ticket to the Final Episode of the Mary Tyler Moore Show Estimate $400-600
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
One of a Kind Auctions Rare Autograph and Documents Ending May 29th, 2025
One of a Kind Auctions, May 29: George Washington Three Language Ship's Paper West Indies Trade Voyage.
One of a Kind Auctions, May 29: An Extraordinary Archive of Commodore Oliver Hazard Perry: Over 60 Historic Documents, Naval Commissions, Family Papers, and Photographic Material Spanning the 19th Century.
One of a Kind Auctions, May 29: Abraham Lincoln Appointment for Vice-Consul of Russia.
One of a Kind Auctions Rare Autograph and Documents Ending May 29th, 2025
One of a Kind Auctions, May 29: John Adams Signed Mediterranean Scalloped Top ship's passport.
One of a Kind Auctions, May 29: Thomas Jefferson and James Madison Signed Ships Paper.
One of a Kind Auctions, May 29: Herman Melville RARE -ALS (Moby Dick Author).
One of a Kind Auctions Rare Autograph and Documents Ending May 29th, 2025
One of a Kind Auctions, May 29: Apollo 10: Flown Flag and Patch Display with Crew-Signed Covers from the Collection of NASA Engineer Clark C. McClelland.
One of a Kind Auctions, May 29: James Garfield Rare Signature as President - Possibly the largest Autograph as President almost 6 inches long!
One of a Kind Auctions, May 29: Walt Disney Autograph over 7 inches in Length.
Forum Auctions Fine Books, Manuscripts and Works on Paper 29th May 2025
Forum, May 29: Darwin (Charles). On the Origin of Species by Means of Natural Selection, first edition, John Murray, 1859. £50,000 to £70,000.
Forum, May 29: Astronomy.- Apianus (Petrus). Cosmographicus Liber a Petro Apiano Mathematico Studiose Collectus., first edition, Landshut, 1524. £40,000 to £60,000.
Forum, May 29: Bound for Jean Grolier.- Negri Stefano. Stephani Nigri Elegantissime è Graeco authorum subditorum translationes, uidelicet., first edition, first issue, Milan, 1521. £15,000 to £20,000.
Forum, May 29: Gill (Eric). Eve, number 1 of 50, hand-coloured wood-engraving, signed at foot in pencil, [1926]. £6,000 to £8,000.
Forum Auctions Fine Books, Manuscripts and Works on Paper 29th May 2025
Forum, May 29: America.- Warre (Capt. Henry James). Sketches in North America and the Oregon Territory, first edition, Dickinson & Co., 1848. £25,000 to £35,000.
Forum, May 29: Wodehouse (P.G.) Psmith USA, autograph manuscript of his novel "Psmith Journalist", signed and dated at end and dated "11 November 1909, Hotel Earle, 103 Waverley Place". £15,000 to £20,000.
Forum, May 29: Women.- Wollstonecraft (Mary). A Vindication of the Rights of Woman: with Strictures on Political and Moral Subjects, first edition, uncut in original boards, 1792. £6,000 to £8,000.
Forum, May 29: Mathematics.- Whitehead (Alfred North) and Bertrand Russell. Principia Mathematica, 3 vol., first editions, Cambridge, Cambridge University Press, 1910-13. £20,000 to £30,000.
Ketterer Rare Books Auction May 26th
Ketterer, May 26: Th. McKenney & J. Hall, History of the Indian tribes of North America, 1836-1844. Est: €50,000
Ketterer, May 26:Biblia latina vulgata, manuscript on thin parchment, around 1250. Est: €70,000
Ketterer, May 26: M. Beckmann, Fanferlieschen Schönefüßchen, 1924. Est: €10,000
Ketterer Rare Books Auction May 26th
Ketterer, May 26: A. Ortelius, Theatrum orbis terrarum, 1574. Est: €50,000
Ketterer, May 26: M. S. Merian, Eurcarum ortus, alimentum et paradoxa metamorphosis, 1717-18. Est: €6,000
Ketterer, May 26:PAN, 9 volumes, 1895-1900. Est: €12,000
Ketterer Rare Books Auction May 26th
Ketterer, May 26: Breviarium Romanum, Latin manuscript, 1474. Est: €15,000
Ketterer, May 26: Quran manuscript from the Saadian period, Maghreb, 16th century. Est: €10,000
Ketterer, May 26: E. Hemingway, The old man and the sea, 1952. First edition in first issue jacket. Presentation copy. Est: €3,000
Ketterer Rare Books Auction May 26th
Ketterer, May 26: Flavius Vegetius Renatus, De re militari libri quatuor, 1553. Est: €3,000
Ketterer, May 26: K. Marx, Das Kapital, 1867. Est: €30,000
Ketterer, May 26: Brassaï, Transmutations, 1967. Est: €6,000