Rare Book Monthly

Articles - December - 2021 Issue

Buying, Selling and Collecting in Complicated Times

16a0e1fb-0e96-42a8-85f3-6ad2cc985754

The Compleat Auctioneer, in 1720 could become the Complete Auctioneer in 2022

Covid19, the economic downturn and resurgence, offer few if any precedents for economists and the book trade to feel comfortable about the future.  Certainly the recovery is noticeable, even shocking if uneven.  Dealers have a new spring in their steps while auctions have been relying on their teams to work from home while bidders, for most part, have become accustomed to bidding online or by phone.  And the outcomes?  Bookdealers don’t report sales, but their upbeat attitude is infectious and there’s real interest in the schedule of book fairs.  They are looking forward.  As to the auctions, their role in the field has expanded as consignments have been filling their schedules with a steady flow of successful events.  Not so long ago, the standard for success for auctions was to sell 75% of the lots offered.  Over the past year auctions have been selling 82% and the prices have been appealing both for the sellers and buyers.  From all this, it appears the field has recovered even as the field has been transformed.

 

Not so long ago the distinction between dealers and auction houses was very black and white.  Dealers list material at set prices and wait for the market to provide a buyer or feedback suggesting their offer is too high.  Auctions, by comparison, live on the real time model, organizing sales, writing descriptions and setting estimates and reserves while creating a deadline for bidders to put their paddles up.  Dealer prices are generally higher than auction realizations and that’s always been logical.  Dealers have their material on hand and can ship immediately while, if you set your heart on something coming up in the rooms, you have to win it against competition.  Both models work and there is some evidence that these models will merge.

 

How so?  The major bookselling associations have long looked upon auctions both as suppliers and competitors but collectors are showing an increasing interest for auction determined prices.  The ABAA, the Antiquarian Booksellers’ Association of America, is currently considering changes in their bylaws to permit members to sell at auction under their own name.  As was explained to me by one ABAA member, that change would keep all present selling options and add the ability to sell at auction subject to association regulations.  In line with that possibility, the ABAA is currently considering to offer a timed auction option that, because of how they function, can only occur on a single platform.  Please think big, not small.  Today most auction houses post their sales on multiple platforms because they know they get higher realizations when more folks are bidding.  The goal is to achieve the best outcome for ABAA members and the bidding public.

 

In any event, this will involve merging standard auction rules with the ABAA’s exceptional guarantee and they are very different.  Alternatively, guarantees may be included according to how the price is calculated.  If purchased on the retail model the guarantee would be in line with current policy, whereas when sold under the auction model the guarantee would be briefer and limited.  Think of this as the difference between buying a first class or economy seat.  

 

Auctions will strengthen the dealer model and should be neutral to positive to the show traffic that is the life blood of dealer organizations.  But if handled correctly, traffic should increase at shows if the prospective bidder/buyer can look over upcoming lots from many houses when visiting shows.  Traffic could surge.

 

Beyond this, to those in the ABAA leadership who are considering the auction option, it’s necessary to remember that Covid19 has inflicted a higher price on older folks, and some, who previously never bid at auction, have been joining the on-line bidding.  Support them by acknowledging your members will be running occasional auctions and that your tens of thousands of customers may feel encouraged to increase their trade.  The reality is they are already looking.  Such buyers and bidders, while open to new options, no doubt, will continue to be checking their snail-mail for the printed catalogues your dealers have long issued that institutions and collectors have appreciated.  They are wanted and needed.

 

Auctions are not the enemy, they are simply an option. 

 

With spirits high and masks tucked into our pockets, here’s wishing you Have a great holiday season!

 

Rare Book Monthly

  • <center><b>Swann Auction Galleries<br>A Record Breaking Season</b>
    <b>Swann:</b> <i>The Book of Mormon,</b> first edition, Palmyra, NY, 1830. Sold Sept. 30 — $112,500.
    <b>Swann:</b> Vincent Van Gogh, <i>Homme à la Pipe: Portrait du Docteur Gachet, Evening,</i> etching, 1890. Sold Nov. 2 — $161,000.
    <b>Swann:</b> Edward Ruscha, <i>Stains,</i> title page, one of 70, signed, 1969. Sold Nov. 9 — $112,500.
    <b>Swann:</b> John James Audubon, <i>Carolina Parrot, Plate 26,</i> hand colored aquatint, 1828. Sold Dec.9 — $137,000.
    <b>Swann:</b> Edmund Dulac, <i>The Snow Queen,</i> watercolor, gouache, pen & ink, 1910. Sold Dec. 16 — $125,000.
  • <center><b>Dominic Winter Auctioneers<br>26 January 2022<br>Printed Books & Maps,<br>The Sinclair Hood Library of Archaeology,<br>The Charles Tomlinson Poetry Library</b>
    <b>Dominic Winter, Jan. 26:</b> Biggs (Thomas, Hope, Theodore C & Fergusson, James). <i>Architecture at Ahmedabad, The Capital of Goozerat,</i> 1st edition, London: John Murray, 1866. £3,000 to £5,000.
    <b>Dominic Winter, Jan. 26:</b> Daniell (Thomas and William). <i>Oriental Scenery. One Hundred and Fifty Views of the Architecture, Antiquities and Landscape Scenery of Hindoostan,</i> 6 parts, 1812-16. £2,000 to £3,000.
    <b>Dominic Winter, Jan. 26:</b> Hamilton (Sir William & Pierre Francois Hugues d'Hancarville). Collection of Etruscan, Greek and Roman Antiquities from the Cabinet of the Hon.ble Wm Hamilton, volumes I & II only (of 4), Naples, 1766-67. £7,000 to £10,000.
    <center><b>Dominic Winter Auctioneers<br>26 January 2022<br>Printed Books & Maps,<br>The Sinclair Hood Library of Archaeology,<br>The Charles Tomlinson Poetry Library</b>
    <b>Dominic Winter, Jan. 26:</b> Moore (Lieutenant Joseph & Captain Frederick Marryat). Eighteen Views taken at & near Rangoon, [1825]. £2,000 to £3,000.
    <b>Dominic Winter, Jan. 26:</b> Williamson (Captain Thomas & Howitt, Samuel). <i>Oriental Field Sports; Being a Complete, Detailed and Accurate Description of the Wild Sports of the East;</i> 1st edition, London, 1807. £5,000 to £8,000.
    <b>Dominic Winter, Jan. 26:</b> Knoop (Johann Hermann). <i>Pomologia, dat is Beschryvingen en Afbeeldingen van de beste zoorten van Appels en Peeren, Fructologia …,</i> 3 volumes in 1, Leeuwarden: A Ferwerda and G. Tresling, [1758]. £1,000 to £1,500.
    <center><b>Dominic Winter Auctioneers<br>26 January 2022<br>Printed Books & Maps,<br>The Sinclair Hood Library of Archaeology,<br>The Charles Tomlinson Poetry Library</b>
    <b>Dominic Winter, Jan. 26:</b> North America. Wyld (James), Map of the Colony of British Columbia and the British & American Territory West of the Rocky Mountains, Including Vancouvers Island and the Gold Fields, 1858. £1,500 to £2,000.
    <b>Dominic Winter, Jan. 26:</b> Pocket Globe. A Correct Globe with the New Discoveries, circa 1785. £2,000 to £3,000.
    <b>Dominic Winter, Jan. 26:</b> Wales. Morden (Robert), Twelve 'playing card maps' of Wales, circa 1676. £1,000 to £1,500.
    <center><b>Dominic Winter Auctioneers<br>26 January 2022<br>Printed Books & Maps,<br>The Sinclair Hood Library of Archaeology,<br>The Charles Tomlinson Poetry Library</b>
    <b>Dominic Winter, Jan. 26:</b> Society of Dilettanti. <i>Antiquities of Ionia,</i> 5 volumes: 1821, 1797, 1840, 1881 & 1915. £3,000 to £5,000.
    <b>Dominic Winter, Jan. 26:</b> Churchill (Winston Spencer). <i>The People's Rights,</i> 1st edition, 1st issue, London: Hodder & Stoughton, [1910]. £1,000 to £1,500.
    <b>Dominic Winter, Jan. 26:</b> Paz (Octavio). <i>Blanco,</i> 1st edition, limited numbered edition, Mexico: Joaquín Mortiz, 1967. £500 to £800.
  • <center><b>Sotheby’s<br> Fine Books and Manuscripts, Including Americana<br>Online<br>Now through January 25, 2022</b>
    <b>Sotheby’s, Now to Jan. 25:</b> Audubon, John James. The "Wild Turkey" manuscript — capturing one of the nation's most iconic symbols of unity. $250,000 to $350,000.
    <b>Sotheby’s, Now to Jan. 25:</b> (Flag) — Commemorative Thirteen-Star Flag. Pre-Civil War, Thirteen-Star Flag of the United States, from the collection of Charles Kuralt. $15,000 to $25,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Fitzgerald, F. Scott. <i>Tender is the Night</i>. First edition, presentation copy, and a former mystery. $30,000 to $50,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Audubon, John James. The "Wild Turkey" manuscript — capturing one of the nation's most iconic symbols of unity. $250,000 to $350,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Salinger, J.D. <i>The Catcher in the Rye.</i> A strikingly fresh first edition of Salinger's essential novel. $20,000 to $25,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Whitman, Walt. <i>Leaves of Grass.</i> “America's second Declaration of Independence” — signed by Whitman. $150,000 to $200,000.
    <b>Sotheby’s, Now to Jan. 25:</b> [Dylan, Bob]. Some of the earliest known professional portraits. $10,000 to $15,000.
    <b>Sotheby’s, Now to Jan. 25:</b> Y-Worth [Yarworth], William. <i>Cerevisiarii Comes: Or, the New and True Art of Brewing…</i> A rare and early English work on the art of brewing. $5,000 to $7,000.
  • <b>Bonhams, Jan. 19 – 27:</b> RUTH BADER GINSBERG’S PERSONAL COPY OF THE 1957-58 HARVARD LAW REVIEW, HEAVILY ANNOTATED BY HER.
    <b>Bonhams, Jan. 19 – 27:</b> RUTH BADER GINSBURG’S TEXTBOOK FOR HER “CIVIL PROCEDURE” CLASS AT HARVARD, HEAVILY ANNOTATED BY HER.
    <b>Bonhams, Jan. 19 – 27:</b> RUTH BADER GINSBURG’S TEXTBOOK FOR COLUMBIA LAW SCHOOL CLASS ON JURISPRUDENCE, HEAVILY ANNOTATED BY HER.
    <b>Bonhams, Jan. 19 – 27:</b> HONORARY DOCTORATE AWARDED TO RUTH BADER GINSBURG BY SMITH COLLEGE, 1994.
    <b>Bonhams, Jan. 19 – 27:</b> A COPY OF JUSTICE GINSBURG’S ARTICLE, “WOMEN IN THE FEDERAL JUDICIARY,” SIGNED AND INSCRIBED BY THE JUSTICE TO SENATOR NANCY KASSEBAUM.
    <b>Bonhams, Jan. 19 – 27:</b> A COPY OF SANDRA DAY O’CONNOR’S ARTICLE, “THEY OFTEN ARE HALF-OBSCURE: THE RIGHTS OF THE INDIVIDUAL AND THE LEGACY OF OLIVER WENDELL HOLMES,” PRESENTED TO RUTH BADER GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> A DELUXE EDITION OF ANTONIN SCALIA’S MAKING YOUR CASE: THE ART OF PERSUADING JUDGES, FROM AN EDITION OF 2000, SIGNED AND INSCRIBED TO RUTH BADER GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> A FIRST EDITION OF SONIA SOTOMAYOR’S <i>MY BELOVED WORLD,</i> SIGNED AND INSCRIBED TO RUTH BADER GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> A FIRST EDITION OF AL GORE’S “THE ASSAULT ON REASON,” SIGNED AND INSCRIBED TO RUTH BADER GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> <i>BELOVED</i> BY TONI MORRISON, SIGNED AND INSCRIBED BY THE AUTHOR TO RUTH AND MARTIN GINSBURG.
    <b>Bonhams, Jan. 19 – 27:</b> A FIRST EDITION OF GLORIA STEINEM’S “MY LIFE ON THE ROAD,” SIGNED AND INSCRIBED TO RUTH BADER GINSBURG.
  • <b>Il Ponte Casa d’Aste, Jan. 25:</b> DANTE ALIGHIERI (1265-1321). <i>Commedia.</i> Venezia: Vindelino da Spira, 1477. Estimate: € 40.000 - 60.000.
    <b>Il Ponte Casa d’Aste, Jan. 25:</b> DALI, Salvador (1908-1989) - William SHAKESPEARE (1564-1616). <i>Romeo e Giulietta.</i> Milan: Rizzoli, 1975. Estimate: € 25.000 - 35.000.
    <b>Il Ponte Casa d’Aste, Jan. 25:</b> MALVASIA, Cornelio; MONTANARI, Geminiano. <i>Ephemerides novissimae motuum coelestium.</i> Modena: Cassiani, 1662. Estimate: € 8.000 - 12.000.
    <b>Il Ponte Casa d’Aste, Jan. 25:</b> JANSSONIUS, Johannes. <i>Atlantis majoris quinta pars, Orbem maritimum [Novus Atlas, volume V: carte marittime].</i> Amsterdam: Janssonius, 1650. Estimate: € 12.000 - 18.000.

Article Search

Archived Articles

Ask Questions