Rare Book Monthly

Articles - January - 2021 Issue

Shapero Rare Books Publicly Traded Parent, Scholium Group, Experiences Losses

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Scholium Group, the publicly traded parent of Shapero Rare Books, posted a loss for the first half of their fiscal year, running from April 1 – September 30, 2020. It came as no surprise. The handwriting was on the wall after a loss in March when much of Britain was forced to close down by the coronavirus. Chairman Jasper Allen even displayed some relief in the company's performance, noting “the Group has performed at a better level than the Board's expectations earlier this year.”

 

The loss for the past six months at Scholium came to £158,000 (US $212,000). This is down from a profit of £64,000 during the same period in 2019. Sales were down for all three of Scholium's divisions, though Shapero Rare Books proved to be the strongest. Shapero's sales declined by 6%. Sales for its Mayflower Philatelics division, which hosts stamp auctions, dropped by 22%, while those at Scholium Trading practically disappeared, declining by 97%. Scholium Trading conducts joint ventures with other companies in selling very expensive collectibles. Shapero Rare Books by itself eked out a small profit.

 

Shapero's relatively good performance was attributed to its being able to expand its online business significantly, while its profits were also attributable to reducing costs. This has not been a good time for practically any book selling business, but Shapero's method of selling was particularly hard hit. They traditionally do much of their selling through their retail location in London and at book fairs. Retail was slow, and at times nonexistent because of forced closures, while practically all book fairs have been cancelled since March. If there is a possible bright side to all of this, it's that there is a good chance the increased online sales will be a permanent feature of the business even after Covid 19 is gone.

 

In looking to the next half year, Scholium pointed to greater focus on online platforms and use of email and telephone communications as positives. The firm has moved its showroom to less expensive quarters to reduce expenses. They also noted that their balance sheet remains strong. Nonetheless, realism necessitated forecasting continued losses. They cited a return to a government enforced retail shutdown and continued cancellations of trade fairs as road blocks in the way going forward. All of that is true, but one suspects if shops were allowed to reopen, and fairs did the same, few people would attend anyway. It looks as if we are facing a brutal winter of infections and deaths, and while the vaccine should help turn things around in the second half of their fiscal year, it likely is too late to make much of a difference between here and March. They will need to continue the cost cutting and virtual selling to minimize the losses until relief comes and they can get back on the positive track the firm had established before the coronavirus hit.

Rare Book Monthly

  • <b>Swann Auction Galleries Jan 28:</b> Joseph F. Kernan, <i>College Football,</i> oil on canvas, <i>The Saturday Evening Post</i> cover, 1932. $25,000 to $35,000.
    <b>Swann Auction Galleries Jan 28:</b> Joseph C. Leyendecker, <i>Golfer Lighting a Cigarette,</i> oil on canvas, c.1920. $7,000 to $10,000.
    <b>Swann Auction Galleries Jan 28:</b> Howard Chandler Christy, <i>In the Field,</i> charcoal & watercolor, published in <i>Scribner’s,</i> 1902. $8,000 to $12,000.
    <b>Swann Auction Galleries Jan 28:</b> N.C. Wyeth, <i>Standish Reading,</i> pen & ink, for <i>The Courtship of Miles Standish,</i> 1920. $5,000 to $7,500.
    <b>Swann Auction Galleries Jan 28:</b> Johnanna Stewart Mapes, <i>A Fairy Book,</i> conté crayon, for <i>St. Nicholas Magazine,</i> 1907. $2,500 to $3,500.
    <b>Swann Auction Galleries Jan 28:</b> Arnold Lobel, pen & ink, for <i>The Frog & Toad Coloring Book,</i> 1981. $3,000 to $4,000.
    <b>Swann Auction Galleries Jan 28:</b> Antonio Lopez, <i>Today’s Fashions,</i> study for <i>The New York Times,</i> 1981. $2,500 to $3,500.
    <b>Swann Auction Galleries Jan 28:</b> Charles Schulz, <i>“I’ll have to go back to the house…I forgot my rubbers…”</i> pen & ink, original 4-panel <i>Peanuts comic,</i> 1960. $8,000 to $12,000.
    <b>Swann Auction Galleries Jan 28:</b> Constantin Alajalov, <i>Family Tree,</i> watercolor and gouache, cover for <i>The New Yorker,</i> 1938. Estimate $3,000 to $4,000.
  • <center><b>Case Antiques<br>Two-Day Winter Auction<br>Jan. 30 & 31, 2021</b>
    <b>Case Antiques, Jan. 30-31:</b> Rare 1778 Engraved map of Colonial Philadelphia after George Heap (1714-1752) and Nicholas Scull (1687-1761). $10,000 to $12,000.
    <b>Case Antiques, Jan. 30-31:</b> Author signed and inscribed <i>THE FOUNTAINHEAD,</i> stated First Edition, by Ayn Rand, published by The Bobbs-Merrill Company, Indianapolis, New York, 1943. $2,000 to $2,400.
    <b>Case Antiques, Jan. 30-31:</b> John James Audubon (American, 1785-1851) hand-colored aquatint engraving, "Yellow-billed Magpie, Stellers Jay, Ultramarine Jay and Clark's Crow," Plate Number CCCLXII. $1,800 to $2,200.
    <center><b>Case Antiques<br>Two-Day Winter Auction<br>Jan. 30 & 31, 2021</b>
    <b>Case Antiques, Jan. 30-31:</b> Andrew Jackson (1767-1845) autograph letter, signed, as President, to Nathan Reid detailing Jackson’s intervention on behalf of Reid's grandson. $1,800 to $2,200.
    <b>Case Antiques, Jan. 30-31:</b> Edward Steichen (Luxembourg/American, 1879-1973) portfolio of photographs, "The Early Years 1900-1927, 12 Hand-Gravure Prints" #41/1000, printed in 1981. $1,400 to $1,600.
    <b>Case Antiques, Jan. 30-31:</b> President John Fitzgerald Kennedy, TLS, one-page typed letter on The White House, Washington, D.C., stationary to John Marshall Butler. $1,400 to $1,600.
    <center><b>Case Antiques<br>Two-Day Winter Auction<br>Jan. 30 & 31, 2021</b>
    <b>Case Antiques, Jan. 30-31:</b> Two Pre-Civil War slave related letters, including one written by Mariah, a female domestic slave of James Vincent Musgrove (1814-1890) to her daughter. $1,000 to $1,200.
    <b>Case Antiques, Jan. 30-31:</b> Two author signed and inscribed Ayn Rand related books, including one Rand signed <i>WE THE LIVING,</i> London 1940 edition. $1,000 to $1,200.
    <b>Case Antiques, Jan. 30-31:</b> PLAN DE LA VILLE DE MEMPHIS (ETATS-UNIS) 40,000 HABITANTS pen and ink with watercolor hand drawn drainage system map, circa 1870. $700 to $900.
    <center><b>Case Antiques<br>Two-Day Winter Auction<br>Jan. 30 & 31, 2021</b>
    <b>Case Antiques, Jan. 30-31:</b> Scarce Mezzotint portrait of Thomas Pownall, Colonial Governor of the Province of Massachusetts Bay (1757-1760) and South Carolina (1760). $600 to $700.
    <b>Case Antiques, Jan. 30-31:</b> VIEW OF NORFOLK FROM COSPORT, VIRGINIA, John Hill, engraver, after John Shaw (U.K., 1776-1832). $600 to $700.
    <b>Case Antiques, Jan. 30-31:</b> THE BURNING OF THE MERCHANT'S EXCHANGE, NEW YORK CITY -THE GREAT FIRE OF DECEMBER, 1835. Scarce color lithograph, a 1909 reissue of the original 1836 print. $500 to $700.
  • <b><center>Christie’s<br>Paul Destribats:<br>Une Bibliothèque des Avant-gardes<br>Part III<br>2-3 and 4 February 2021</b>
    <b><center>Christie’s<br>Paul Destribats:<br>Une Bibliothèque des Avant-gardes<br>Part III<br>2-3 and 4 February 2021</b>
    <b><center>Christie’s<br>Paul Destribats:<br>Une Bibliothèque des Avant-gardes<br>Part III<br>2-3 and 4 February 2021</b>
    <b><center>Christie’s<br>Paul Destribats:<br>Une Bibliothèque des Avant-gardes<br>Part III<br>2-3 and 4 February 2021</b>
  • <center><b>Forum Auctions<br>Fine Books, Manuscripts<br>and Works on Paper<br>28 January 2021</b>
    <b>Forum Auctions, Jan. 28:</b> Schedel (Hartmann). <i>Liber Chronicarum,</i> first edition, Nuremberg, Anton Koberger for Sebald Schreyer and Sebastian Kammermeister, 1493. £30,000 to £50,000.
    <b>Forum Auctions, Jan. 28:</b> [Greek Orthodox Church].- <i>Menaion,</i> manuscript in Greek, on paper, in Greek letters, [Eastern Mediterranean], [c. 1400]. £5,000 to £7,000.
    <b>Forum Auctions, Jan. 28:</b> American Revolution.- Loyalist's cow powder horn, engraved with the cypher "GR" for George III surmounted by a crown, an inscription, and on reverse an engraving of the "North River" [Hudson River], 1777. £5,000 to £7,000.
    <center><b>Forum Auctions<br>Fine Books, Manuscripts<br>and Works on Paper<br>28 January 2021</b>
    <b>Forum Auctions, Jan. 28:</b> Illuminated prayer book.- <i>Maria Carcer y Trigueros... Santa Misa y Oraciones,</i> illuminated manuscript in Spanish, on paper, [c. 1850]. £5,000 to £7,000.
    <b>Forum Auctions, Jan. 28:</b> Hardy (Thomas). <i>The Mayor of Casterbridge,</i> 2 vol., first edition in book form, original cloth, 1886. £2,000 to £3,000.
    <b>Forum Auctions, Jan. 28:</b> [Austen (Jane)]. <i>Emma: A Novel,</i> first edition, Printed for John Murray, 1816. £7,000 to £10,000.
    <center><b>Forum Auctions<br>Fine Books, Manuscripts<br>and Works on Paper<br>28 January 2021</b>
    <b>Forum Auctions, Jan. 28:</b> Brontë (Charlotte). <i>Jane Eyre. An Autobiography,</i> 3 vol., first edition, Smith, Elder and Co., 1847. £10,000 to £15,000.
    <b>Forum Auctions, Jan. 28:</b> Cruikshank (George). <i>The Road to the Derby,</i> one of two proof copies, Raphael Tuck & Sons, 1882. £600 to £800.
    <b>Forum Auctions, Jan. 28:</b> Meunier (Charles, binder).- Gruel (Leon). <i>Manuel Historique et Bibliographique de l'Amateur de Reliures,</i> 2 vol., Paris, 1887.-1905. £3,000 to £4,000.
    <center><b>Forum Auctions<br>Fine Books, Manuscripts<br>and Works on Paper<br>28 January 2021</b>
    <b>Forum Auctions, Jan. 28:</b> Burne-Jones (Sir Edward). <i>The Work of Edward Burne-Jones,</i> edited by Philip Burne-Jones, one of 200 copies, [c.1900]. £4,000 to £6,000.
    <b>Forum Auctions, Jan. 28:</b> Nazraeli Press.- <i>Six by Six,</i> 36 vol. [a complete set], one of 100 sets, each with signed photograph, Portland, Or., 2010-16. £10,000 to £15,000.
    <b>Forum Auctions, Jan. 28:</b> Australasia.- Péron (Francois) and Freycinet. <i>Voyage de Découvertes aux Terres Australes,</i> 5 vol. including Atlas, second edition, Paris, 1824. £6,000 to £8,000.

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