Rare Book Monthly

Articles - October - 2018 Issue

Is There Money to be Made in Rare Books? Reader's Digest Says "Yes"

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A copy of the Gutenberg Bible (Library of Congress image).

For those who get their financial advice from Reader's Digest, you just got a "yes" on buying rare books, first editions in particular. Reader's Digest recently came out with a list of 8 Cheap Items to Buy Now That Will Be Worth a Fortune Later. On that list is "first edition books," with the explanation, "If you’re able to get your hands on a first edition of a new book that could potentially become very popular, you could make a lot of money off of it in the future." They cite as an example the one everyone cites these days, the Harry Potter series. Of course, if you bought one of the other hundreds of thousands of books published in the past two decades, you wouldn't have done so well.

 

The introductory paragraph then takes us to a more detailed list of "8 more rare books that are worth a fortune." There are actually 15 books on this list, which is why the publication is known as Reader's Digest, not Mathematician's Digest. There aren't too many other items on this list that living people could have purchased new. Older readers might have been able to pick up a James Bond when new, maybe even Salinger's classic. None of us were here to get a freshly printed Shakespeare First Folio, let alone a Gutenberg Bible.

 

Here is what is on their list, along with the estimated values. Their prices mostly seem on the high side, a seller's preferred price, rather than that of a buyer. One surmises they may have seen an auction price for a special copy, perhaps a signed one, or the highest priced listing on AbeBooks. However, even if some prices are exaggerated, they are right in saying, "If you have one of these rare books sitting on a shelf somewhere, get ready to cash in!" Check your shelves to see if you have a Gutenberg Bible lying around.

 

Shakespeare's First Folio. $5.2 million.

 

In Our Time by Ernest Hemingway. $321,000.

 

Harry Potter and the Philosopher's Stone by J. K. Rowling. $55,000.

 

Pride and Prejudice by Jane Austen. $180,159.

 

Casino Royale by Ian Fleming. $130,000.

 

The Canterbury Tales by Geoffrey Chaucer. $11.2 million.

 

The Hobbit by J. R. R. Tolkien. $210,000.

 

The Great Gatsby by F. Scott Fitzgerald. $194,000.

 

Tamerlane and Other Poems by Edgar Allan Poe. $662,500.

 

Ulysses by James Joyce. $355,000.

 

The Tale of Peter Rabbit by Beatrix Potter. $56,124.

 

The Catcher in the Rye by J. D. Salinger. $40,000-$75,000.

 

Alice's Adventures in Wonderland by Lewis Carroll. $2-$3 million.

 

Great Expectations by Charles Dickens. $137,500.

 

Gutenberg Bible. $5.39 million.

 

If there is one bargain in this lot, it is the last of these. $5.39 million was the price paid at Christie's in 1987 for the Esther Doheny copy of the Gutenberg Bible. That is the last one to be sold. It is worth a lot more today. In 2015, Sotheby's sold a section from the Gutenberg consisting of 8 leaves for $970,000. The Gutenberg Bible contains 643 leaves. Readers of Mathematician's Digest will be able to do the math on that one to estimate what a complete Gutenberg might be worth today.

Rare Book Monthly

  • <b>Swann Auction Galleries Nov 14:</b> William P. Welsh, <i>Vacation Lands Are Calling / Go in Pullman,</i> 1936. $1,500 to $2,000.
    <b>Swann Auction Galleries Nov 14:</b> Paul Proehl, <i>Chicago for the Tourist / Illinois Central,</i> 1925. $5,000 to $7,500.
    <b>Swann Auction Galleries Nov 14:</b> James Northfield, <i>Wattle Time / Travel By Train,</i> circa 1925. $4,000 to $6,000.
    <b>Swann Auction Galleries Nov 14:</b> John O. Brubaker, <i>California / America’s Vacation Land / New York Central Lines,</i> 1925. $10,000 to $15,000.
    <b>Swann Auction Galleries Nov 14:</b> <i>Montauk Beach,</i> designer unknown, circa 1929. $15,000 to $20,000.
    <b>Swann Auction Galleries Nov 14:</b> Otto Brennemann, <i>Football / Notre Dame by South Shore Line,</i> 1926. $7,000 to $10,000.
    <b>Swann Auction Galleries Nov 14:</b> Guy Arnoux, <i>Air France / Amérique du Nord,</i> 1946. $3,000 to $4,000.
    <b>Swann Auction Galleries Nov 14:</b> Joseph Feher, <i>Yosemite / United Air Lines.</i> $2,000 to $3,000.
    <b>Swann Auction Galleries Nov 14:</b> Roger Broders, <i>Le Tour du Mt. Blanc,</i> 1927. $5,000 to $7,500.
    <b>Swann Auction Galleries Nov 14:</b> Leslie Ragan, <i>The Transportation Parade of the Years / Great Lakes Exposition,</i> 1936. $3,000 to $4,000.
  • <center><b>Hindman Auctions<br>Fine Books and Manuscripts Including Americana<br>November 6, 2019</b>
    <b>Hindman Auctions, Nov. 6:</b> RATZER, Bernard. <i>Plan of the City of New York in North America, surveyed in the years 1766 & 1767.</i> London: Jefferys and Faden, “Jan.y” 12, 1776. $80,000 to $120,000
    <b>Hindman Auctions, Nov. 6:</b> [KELMSCOTT PRESS]. COCKERELL, Sydney C. <i>Some German Woodcuts of the Fifteenth Century.</i> Hammersmith: The Kelmscott Press, 1897 [issued 1898]. $20,000 to $30,000
    <b>Hindman Auctions, Nov. 6:</b> [GOLDEN COCKEREL PRESS]. KEATS, John. <i>Lamia, Isabella, the Eve of Saint Agnes and Other Poems.</i> Waltham Saint Lawrence, Berkshire: The Golden Cockerel Press, 1928. $6,000 to $8,000
    <center> <b>Hindman Auctions<br>Fine Books and Manuscripts Including Americana<br>November 6, 2019</b>
    <b>Hindman Auctions, Nov. 6:</b> [GRANT, Ulysses S.— GRANT, Julia, First Lady]. Carved Applewood and 18-karat Gold Jewelry Suite, Browne & Spaulding, Jewelers, New York City, 1865. $20,000 to $30,000
    <b>Hindman Auctions, Nov. 6:</b> [LINCOLN ASSASSINATION]. GARDNER, Alexander. <i>Incidents of the War |Sic Semper Sicariis</i> [caption title]. Washington, D. C.: Philip & Solomons, 1865. $5,000 to $7,000
    <b>Hindman Auctions, Nov. 6:</b> A COMPLETE COLLECTION of 115 titles published in R. R. Donnelley's Lakeside Classics series. Chicago, 1903-2017. COMPLETE RUN OF THE LONGEST-RUNNING CONTINUOUS SERIES OF BOOKS IN THE WORLD. $5,000 to $7,000
    <center><b>Hindman Auctions<br>Fine Books and Manuscripts Including Americana<br>November 6, 2019</b>
    <b>Hindman Auctions, Nov. 6:</b> GLEIZES, Albert. METZINGER, Jean. <i>Du Cubisme.</i> Paris, 1947. LIMITED EDITION, number 19 of 20 copies on papier d'Auvergne. $3,000 to $4,000
    <b>Hindman Auctions, Nov. 6:</b> [THE LITTLE REVIEW]. ANDERSON, Margaret, ed. POUND, Ezra, ed. HEAP, Jane, ed. <i>The Little Review.</i> Vol. I, No. 1 through Vol. XII, No. 2. 1914-1929. $3,000 to $4,000
    <b>Hindman Auctions, Nov. 6:</b> [MOUNTENEY, Leonard, binder]. LOUŸS, Pierre. <i>Songs of Bilitis.</i> Chicago: Argus Books, 1931. $2,000 to $3,000
    <b>Hindman Auctions, Nov. 6:</b> [HANCOCK, John]. Partly-printed U.S. Loan-Office Transfer Certificate issued on behalf of Hancock. Sgn’d on recto by William Imlay, as Commissioner of Loans of Connecticut. 28 February 1793. $2,000 to $3,000
  • <b>Bonhams, Oct. 23:</b> SMITH, CHRISTOPHER WEBB. 1793-1871. <i>Indian Ornithology.</i> [Patna, India]: 1828. $50,000 to $80,000.
    <b>Bonhams, Oct. 23:</b> DUPRÉ, LOUIS. 1789-1837. <i>Voyage à Athènes et à Constantinople, ou Collection de portraits, vues et costumes grecs et ottomans.</i> Paris: Dondey-Dupré, 1825. $60,000 to $90,000.
    <b>Bonhams, Oct. 23:</b> ADAMS, JOHN. Autograph Letter Signed ("J Adams"), [to Dr. Perkins?] while recovering from his small pox inoculation, [late-April, 1764]. $30,000 to $50,000.
    <b>Bonhams, Oct. 23:</b> AUSTEN, JANE. Autograph Letter Signed ("J. Austen"), to her sister Cassandra, 4 pp, "Thursday – after dinner," [September 16, 1813,] Henrietta St. $80,000 to $120,000.
    <b>Bonhams, Oct. 23:</b> AUDUBON, JOHN JAMES. 1785-1851. <i>The Birds of America, from Drawings Made in the United States and Their Territories.</i> New York & Philadelphia: J.J. Audubon & J.B. Chevalier, 1840-1844. $20,000 to $30,000.
    <b>Bonhams, Oct. 23:</b> DODWELL, EDWARD. 1767-1832. <i>Views in Greece.</i> London: Rodwell and Martin, 1821. $20,000 to $30,000.
    <b>Bonhams, Oct. 23:</b> JAMES, JESSE. Autograph Letter Signed ("Jesse W. James"), to Mr. Flood demanding Flood retract spurious accusations, 3 pp, June 5, 1875. $200,000 to $300,000.
    <b>Bonhams, Oct. 23:</b> DE CORDOBA, JACOB. <i>Map of the State of Texas.</i> New York, 1866. $15,000 to $20,000
    <b>Bonhams, Oct. 23:</b> ARNOLD, BENEDICT. Autograph bookseller's receipt for Dr. John Dickinson, Signed ("B. Arnold"), February 1767. $3,000 to $5,000.
    <b>Bonhams, Oct. 23:</b> EINSTEIN, ALBERT. 4 Typed Letters Signed ("A Einstein") to Cleveland E. Dodge offering early reports on the meetings of the Emergency Committee of Atomic Scientists. $10,000 to $15,000.
    <b>Bonhams, Oct. 23:</b> EISENHOWER, DWIGHT D. Typed Letter Signed ("Dwight D. Eisenhower") to General Henri Giraud written from a secret bunker in Gibraltar on the eve of Operation Torch, November 4 [but 6], 1942. $10,000 to $15,000.
    <b>Bonhams, Oct. 23:</b> Early Broadside Printing of the GADSDEN PURCHASE, Puebla, August 16, 1854. $2,000 to $3,000.
    <b>Bonhams, Oct. 23:</b> ALLEN, ETHAN. Autograph Letter Signed to Crevecouer during the Constitutional Debates in Congress, 2 pp, August 29, 1787. $30,000 to $50,000.
  • <center><b>Hindman Auctions<br>Library of a Midwestern Collector<br>November 5, 2019</b>
    <b>Hindman Auctions, Nov. 5:</b> DARWIN, Charles. <i>On the Origin of Species.</i> London John Murray, 1859. FIRST EDITION. THE VERY FINE MELLON-GARDEN COPY. $120,000 to $180,000
    <b>Hindman Auctions Auctioneers, Nov. 5:</b> ECKERT, J. P, H. H. GOLDSTINE, and J. G. BRAINERD. <i>Description of the ENIAC and comments on electronic digital computing machines.</i> N.p., 1945. FIRST EDITION, INSCRIBED BY GOLDSTINE. $5,000 to $7,000
    <b>Hindman Auctions, Nov. 5:</b> EUCLID. <i>Elementa geometriae.</i> Translated from the Arabic by Adelard of Bath. Venice: Erhard Ratdolt, 25 May 1482. FIRST EDITION. $60,000 to $80,000
    <center><b>Hindman Auctions<br>Library of a Midwestern Collector<br>November 5, 2019</b>
    <b>Hindman Auctions, Nov. 5:</b> [HAMILTON, Alexander, James MADISON and John JAY]. <i>The Federalist: A Collection of Essays…</i> New York: John and Andrew M'Lean, 1788. FIRST EDITION. $60,000 to $80,000
    <b>Hindman Auctions, Nov. 5:</b> GALILEI, Galileo. <i>Dialogo...Dove ne i congressi di quattro giornate si discorre sopra i due massimi sistemi del mondo Tolemaico, e Copernicano.</i> Florence, 1632. FIRST EDITION. $30,000 to $40,000
    <b>Hindman Auctions, Nov. 5:</b> JOYCE, James. <i>Ulysses.</i> Paris: Shakespeare and Company, 1922. FIRST EDITION, ONE OF 100 COPIES SIGNED BY JOYCE. $120,000 to $180,000
    <center><b>Hindman Auctions<br>Library of a Midwestern Collector<br>November 5, 2019</b>
    <b>Hindman Auctions, Nov. 5:</b> KEYNES, John Maynard. <i>The General Theory of Employment Interest and Money.</i> London: Macmillan, 1936. FIRST EDITION. $5,000 to $7,000
    <b>Hindman Auctions, Nov. 5:</b> NEWTON, Isaac, Sir. <i>Philosophiae naturalis principia mathematica.</i> London: Joseph Streater for the Royal Society, 1687. FIRST EDITION. $150,000 to $250,000
    <b>Hindman Auctions, Nov. 5:</b> ROWLING, J. K. <i>Harry Potter and the Philosopher's Stone.</i> London: Bloomsbury, 1997. FIRST EDITION, SIGNED BY ROWLING. $80,000 to $120,000
    <b>Hindman Auctions, Nov. 5:</b> SMITH, Adam. <i>An Inquiry into the Nature and Causes of the Wealth of Nations.</i> London: for W. Strahan and T. Cadell, 1776. FIRST EDITION. $70,000 to $90,000

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