• CHRISTIE’S
    Valuable Books and Manuscripts
    London auction
    13 December
    Find out more
    Christie’s, Explore now
    TREW, Christoph Jacob (1695–1769)
    Plantae Selectae quarum imagines ad exemplaria naturalia Londini in hortus curiosorum. [Nuremberg: 1750–1773]
    £30,000–40,000
    Christie’s, Explore now
    VERBIEST, Ferdinand (1623–88)
    Liber Organicus Astronomiae Europaeae apud Sinas restituate. [Beijing: Board of Astronomy, 1674]
    £250,000–350,000
    Christie’s, Explore now
    PROPERTY FROM THE COLLECTION OF ALICE & NIKOLAUS HARNONCOURT
    Master of Jean Rolin (active 1445–65)
    Book of Hours, use of Paris, in Latin and French, [Paris, c.1450–1460]
    £120,000–180,000
    Christie’s, Explore now
    A SILVER MICROSCOPE
    Probably by Antoni van Leeuwenhoek (1632–1723), c.1700
    £150,000–250,000
    Christie’s, Explore now
    AN ENGLISH HORARY QUADRANT
    C.1311
    £100,000–150,000
  • Fonsie Mealy’s, Dec. 12-13: Roberts (David) & Croly (George). The Holy Land, Syria, Idumae, Arabia, Egypt and Nubia. Lond. 1842 - 1843 [-49]. First Edn. €10,000 to €15,000.
    Fonsie Mealy’s, Dec. 12-13: Incunabula: O'Fihily (Maurice). Duns Scotus Joannes: O'Fihely, Maurice Abp… Venice, 20th November 1497. €8,000 to €12,000.
    Fonsie Mealy’s, Dec. 12-13: An important file of documents with provenance to G.A. Newsom, manager of the Jacob’s Factory in Dublin, occupied by insurgents during Easter Week 1916. €6,000 to €9,000.
    Fonsie Mealy’s, Dec. 12-13: WILDE (Oscar), 1854-1900, playwright, aesthete and wit. A lock of Wilde’s Hair, presented by his son to the distinguished Irish actor Mícheál MacLiammóir. €6,000 to €8,000.
    Fonsie Mealy’s, Dec. 12-13: Heaney (Seamus). Bog Poems, London, 1975. Special Limited Edition, No. 33 of 150 Copies, Signed by Author. Illus. by Barrie Cooke. €4,000 to €6,000.
    Fonsie Mealy’s, Dec. 12-13: Binding: Burke, Thomas O.P. (de Burgo). Hibernia Dominicana, Sive Historia Provinciae Hiberniae Ordinis Praedicatorum, ... 1762. First Edition. €4,000 to €6,000.
    Fonsie Mealy’s, Dec. 12-13: COLLINS, Michael. An important TL, 29 July 1922, addressed to GOVERNMENT on ‘suggested Proclamation warning all concerned that troops have orders to shoot prisoners found sniping, ambushing etc.’. €3,000 to €4,000.
    Fonsie Mealy’s, Dec. 12-13: Scott Fitzgerald (F.) The Great Gatsby, New York (Charles Scribner's Sons) 1925, First Edn. €2,000 to €3,000.
    Fonsie Mealy’s, Dec. 12-13: Yeats (W.B.) The Poems of W.B. Yeats, 2 vols. Lond. (MacMillan & Co.) 1949. Limited Edition, No. 46 of 375 Copies Only, Signed by W.B. Yeats. €1,500 to €2,000.
    Fonsie Mealy’s, Dec. 12-13: Miller (William) Publisher. The Costume of the Russian Empire, Description in English and French, Lg. folio London (S. Gosnell) 1803. First Edn. €1,000 to €1,500.
    Fonsie Mealy’s, Dec. 12-13: Miller (William) Publisher. The Costume of Turkey, Illustrated by a Series of Engravings. Lg. folio Lond.(T. Bensley) 1802. First Edn. €800 to €1,200.
    Fonsie Mealy’s, Dec. 12-13: Mason (Geo. Henry). The Costume of China, Illustrated with Sixty Engravings. Lg. folio London (for W. Miller) 1800. First Edn. €1,400 to €1,800
  • ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
    ABAA VBF: Holiday Edition
    November 30-December 2
    abaa.org/vbf
  • Sotheby’s
    Fine Books from a Distinguished Private Library
    28 November 2023
    Sotheby’s, Nov. 28: Captain Thomas Brown | Illustrations of the American ornithology. £80000-120000
    Sotheby’s, Nov. 28: William Hamilton | Campi phlegraei. £40000-60000
    Sotheby’s, Nov. 28: Nicola Zabaglia and Domenico Fontana | Castelli, e ponti con alcune ingegnose pratiche. £6000-8000
    Sotheby’s, Nov. 28: Bible, German | Nuremberg: Koberger, 1483. £40000-60000
    Sotheby’s, Nov. 28: Bible, English | King James version. £8000-12000

Rare Book Monthly

Articles - February - 2021 Issue

Prices at Auction: It Was a Very Good Year

Sales are going up.

The year 2020 was a year like no other. The coronavirus pandemic was bad for way more businesses than it was good. Many went under. What would this mean for books and other paper collectibles? Would unemployment rates that soared higher than at any time since the Great Depression severely damage the trade, or would people stuck at home but not financially hurt exchange dollars usually spent on entertainment for building their collections? The experiences felt by many dealers was different, but for auctions of books and other paper collectibles, the answer was collectors repurposed those dollars rather than hording them. They collected. It was an exceptionally good year at auction.

 

The median or midpoint price of all lots sold was $285. In 2019, it was $275. That was an increase of 3.6%, more than erasing a 2.8% drop the year before. It was the highest since 2014 when it was $286. The average price declined from $1,834 to $1,684, but the average is highly affected by a few sales at the very top, rather than reflecting the overall market. As noted last month in our report on the Top 500 paid at auction, prices were soft at the very high end.

 

One might think the increase in prices was balanced by fewer sales being made but that was not the case. The sell-through rate was an astonishing 83%. That was up from 77% the previous year. In fact, that was the highest sell-through rate since we have been tracking these numbers in 2004 and it wasn't even close. This was the first time it has exceeded 80%. And, that was not because fewer items were offered. That number was also up, slightly, to 521,422, or 4,000 more than the prior year. The number of lots sold in 2020 was 430,544 vs. 395,690 in 2019. Interestingly, the total dollar volume of sales was exactly the same as 2019 - $725 million. What that represented was a decline in prices at the high end balanced by an increase in prices and sales of material at the lower and middle ranges. That is a change in what we have come to expect – strength at the top with weakening demand at the lower and middle prices. That was a surprising revelation.

 

We recognize that many dealers have not experienced such a good year as their model was not as amenable to a lock-down year. Auction sales have been evolving more and more toward an online, virtual model for years. Most sales are no longer made to buyers present in the auction rooms. Rather, they go to online and telephone bidders. On the other hand, many dealers have relied on in-person contact, either in their bookstores or through participation at live book fairs. Many found their stores forced to close during the pandemic, and even when allowed to be open, few people dared to venture out to public spaces, particularly among the more vulnerable older people who make up a large part of the collecting market. Meanwhile, live fairs came to a screeching halt after the New York fairs in early March and never resumed.

 

The reality is many dealers have been struggling for many years as the older models for book selling have not worked as well in the current market. Herein lies a potential long term bright spot for the dealers in the midst of this difficult year. One has been the emergence of paper collectibles other than books, such as manuscripts, photographs, prints, comic books, even baseball cards. Even among book buyers, more collectors are collecting a subject, rather than a type, that is, buying books, manuscripts, prints etc. pertaining to a favored subject, rather than buying only books or prints, etc. Many dealers are expanding their inventory to meet this changing demand, rather than limiting themselves to a single shrinking part of the market.

 

The other bright spot is the surprising success of the virtual book fairs. Reports from both dealers and fair organizers have mostly been very positive, and it appears that this new sales vehicle will remain even after the coronavirus is gone. There is something new under the sun in book and paper selling after all, and this one has some major advantages over the live book fair. It is easier to prepare for this type of fair and the cost of participation is much less for the dealer. Selling more is only one way of improving profitability. Reducing costs is the other.

 

Here are some more statistics from auction sales for 2020. As usual, more lots sold for over the auction houses' high estimate than below it, 59%-22%. However, that is a misleading number since lots that do not sell are really the same as selling for less than the low estimate. In 2019, 42.2% of all lots sold for over the highest estimate, while slightly more, 43.4%, either sold below the low estimate or did not sell at all. In 2020 there was a complete reversal. 48.6% of all lots offered sold above their high estimates while 35.5% sold under the low estimate or not at all. Apparently, even the auction houses did not anticipate such robust prices.

 

The busiest quarter was, as usual, the fourth, with 32.2% of the lots offered in the last quarter. That was up from 31% the prior year. In 2019, May was the busiest month, but for whatever reason, it was only the fifth most active month in 2020. Most likely, the auction houses were still adjusting to the pandemic. Most years, November is the busiest, but for the first time, the highest number of lots were offered in December, saving the most, if not the best, for last. 11.5% of all lots were offered in December compared to 5.3% in August, the slowest month. Nevertheless, August has been the fastest growing month in recent years as more houses try to reach buyers at a time of year when competition is not as great.

 

The highest average price went to the Arader Galleries in-house auctions at $28,912 per lot. Next came Christie's King Street London at $23,418, followed by Christie's New York and Sotheby's New York, both at $21,000-plus. These numbers were mostly down, reflective of some softness at the top. At the other end of the scale, there are still bargains available in the Lancaster Mennonite Historical Society sales with an average of $53 per lot, and Alaska Auction at $66. Those who collect on a limited budget will be pleased that 16 houses had median prices under $100.

 

As for who sold (and offered) the most lots it again was not close. That went to Heritage Auction, which sold 179,915 lots. Only two others were over 10,000, Catawiki with 15,618 and RR Auction with 10,730. Trilium, Forum, Holabird Kagin, and PBA all had over 9,000.

Rare Book Monthly

  • Forum Auctions
    Fine Books, Manuscripts and Works on Paper
    30th November, 2023
    Forum Auctions, Nov. 30: Saint Jerome penitent, woodcut with contemporary hand-colouring and letterpress text beneath, [Augsburg], [Johann Froschauer], [c.1498]. £15,000 to £20,000.
    Forum Auctions, Nov. 30: Elimithar (Elluchasem) "Ibn Butlan". Tacuini sanitatis, first edition, Strasbourg, Johann Schott, 1531. £15,000 to £20,000.
    Forum Auctions, Nov. 30: [Missale Romanum], Latin, Incipit ordo missalis secundum consuetudinem Curiae Romani, manuscript in Latin, on vellum, 234ff. [c. 1400]. £15,000 to £20,000.
    Forum Auctions
    Fine Books, Manuscripts and Works on Paper
    30th November, 2023
    Forum Auctions, Nov. 30: Foyle copy.- [Shakespeare (William)]. Macbeth. A Tragedy: With all the Alterations, Amendments, Additions, and New Songs. As it is now Acted at the Theatre Royal, for Hen. Herringman, 1687. £5,000 to £7,000.
    Forum Auctions, Nov. 30: Dickens (Charles). A Christmas Carol. In Prose. Being a Ghost Story of Christmas, first edition, first impression, first issue, Chapman & Hall, 1843. £12,000 to £18,000.
    Forum Auctions, Nov. 30: Lawrence (T.E.) Revolt in the Desert, working draft typescript, 1927. £10,000 to £15,000.
    Forum Auctions
    Fine Books, Manuscripts and Works on Paper
    30th November, 2023
    Forum Auctions, Nov. 30: Hampstead Bindery.- Phillips (Stephen). Marpessa, exquisitely bound by The Hampstead Bindery, almost certainly P.A. Savoldelli, 1900. £6,000 to £8,000.
    Forum Auctions, Nov. 30: Matisse (Henri).- Joyce (James). Ulysses, one of 1500 copies, this one of 250 signed by the author and artist, New York, The Limited Editions Club, 1935. £8,000 to £12,000.
    Forum Auctions, Nov. 30: Burroughs (Edgar Rice). Tarzan at the Earth's Core, first edition, signed presentation inscription from the author to his son, New York, 1930. £5,000 to £7,000.
    Forum Auctions
    Fine Books, Manuscripts and Works on Paper
    30th November, 2023
    Forum Auctions, Nov. 30: Fitzgerald (F. Scott). Tender is the Night, first edition, first printing, signed by the author, New York, 1934. £15,000 to £20,000.
    Forum Auctions, Nov. 30: Fleming (Ian).- Hooks (Mitchell) and David Chasman. Dr. No, British film poster, Stafford & Co Ltd, [1962]. £10,000 to £15,000.
    Forum Auctions, Nov. 30: America.- California.- Palou (Francisco). Relacion Historica de la Vida Y Apostolicas Tareas delVenerable Padre Fray Junipero Serra..., first edition, second issue, 1787. £6,000 to £8,000.
  • Swann
    Maps & Atlases, Natural History & Color Plate Books
    December 7, 2023
    Swann, Dec. 7: Samuel Augustus Mitchell, A New Map of Texas, Oregon and California with the Regions Adjoining, Philadelphia, 1846. $3,500 to $5,000.
    Swann, Dec. 7: 17th–19th-century case maps of various locations. $1,500 to $2,000.
    Swann, Dec. 7: Andreas Cellarius, Haemisphaerium Stellatum Boreale Cum Subiecto Haemisphaerio Terrestri, celestial chart, Amsterdam, 1708. $2,500 to $3,500.
    Swann
    Maps & Atlases, Natural History & Color Plate Books
    December 7, 2023
    Swann, Dec. 7: Vincenzo Coronelli, Set of engraved gores for Coronelli’s monumental 42-inch terrestrial globe, Venice, circa 1688–97. $18,000 to $22,000.
    Swann, Dec. 7: Lucas Janszoon Waghenaer, group of four navigational charts, Antwerp, 1580s. $2,000 to $3,000.
    Swann, Dec. 7: Thomas Bros, Block Book of Berkeley, Oakland, 1920s. $800 to $1,200.
    Swann
    Maps & Atlases, Natural History & Color Plate Books
    December 7, 2023
    Swann, Dec. 7: John Nieuhoff & John Ogilby, An Embassy from the East-India Company of the United Provinces, map of China, plan of Canton, London, 1673. $1,200 to $1,800.
    Swann, Dec. 7: Frederick Sander, Reichenbachia, St. Albans, 1888-1894. $5,000 to $7,000.
    Swann, Dec. 7: Two early illustrated works on horsemanship and breeding, Nuremberg, early 18th century. $700 to $800.
    Swann
    Maps & Atlases, Natural History & Color Plate Books
    December 7, 2023
    Swann, Dec. 7: John Gould, A Monograph of the Ramphastidae, or Family of Toucans. Supplement to the First Edition, London, 1834; 1855. $40,000 to $60,000.
    Swann, Dec. 7: John Pinkerton, A General Collection of the Best and Most Interesting Voyages and Travels in All Parts of the World, London, 1808–14. $1,500 to $2,500.
    Swann, Dec. 7: Oakley Hoopes Bailey, Hackensack, New Jersey, Boston, 1896. $800 to $1,200.

Article Search

Archived Articles

Ask Questions