Rare Book Monthly

Articles - February - 2022 Issue

Sales of Books and Paper at Auction Surpass $1 Billion for the First Time

Going Up!

Going Up!

The good news kept getting better in 2021 in the rare book trade. 2020 had been a surprisingly good year, with prices of books and collectible paper at auction rising by 3.6%. 2021 was much better. This time prices rose 8.8%. This was based on the median, or midpoint of all lots sold during the year. While based on anecdotal comments booksellers did not participate in 2020's party, they did in 2021. Dealers' sales, unlike auctions, aren't public knowledge, but based on the upbeat comments we have heard, it sounds like the wealth has now been spread around. Covid may have lingered around another year, but the book trade seems to have developed immunity from its consequences.

 

The increase in prices was not based on a shortage of paper collectibles being offered. That number skyrocketed too. There were 636,853 lots offered, up from 521,422 in 2020, an increase of 22%. Lots sold rose from 430,544 to 521,461, an increase of 21%. The result was dollar volume of all sales increased from $725 million to $1.15 billion! That is by far a new record.

 

The sell through rate was also strong, with 82% of all lots offered being sold. That was down slightly from 83% the previous year, but it was still only the second time sell-through has exceeded 80% since we have been tracking sales in 2004.

 

In 2021, for the first time, over 50% of the lots sold for more than the highest estimated price. That number was 48% in 2020. Only 33% either sold under the low estimate or not at all. 17% sold within the range or did not have an estimated sales price. Prior to 2020, there were more lots selling either under the low estimate or not at all than over the high estimate. It is a sign that auction houses were not keeping up with the rise in prices when generating their estimated sales price.

 

In no surprise, the fourth quarter was again the busiest time of year. 30.5% of lots were offered in the fourth quarter, 27.7% in the second quarter, 22.2% in the third quarter, and 19.6% in the first quarter. The third quarter, summertime, has traditionally been the slowest time, but houses have been shifting more sales from the winter to summer months. Perhaps that is an aberration based on the intensity of the pandemic in the early months of the year. In a first, August was no longer the slowest month of the year. It constituted 5.9% of lots offered vs. only 5.7% in January. Ten years ago, only 5,213 lots were offered in August. Last year it was 37,459. So much for summer vacation.

 

The highest average price was reached at Christie's King Street – London location at $53,090. The previous year it was only $28,912 at Arader Galleries. Runner-up went to Sotheby's New York at $37,645. Next came Christie's New York at $26,889, Christie's Paris $25,775, Arader Galleries $20,681, Bonhams Los Angeles $17,223, Sotheby's London $14,812, and Freeman's $13,898. There was also plenty of material offered for those whose budgets are not in this range. Michael Treloar's auctions in Adelaide, Australia, averaged $51 per lot, Pot of Gold Liquidations $56, and the Mennonite Historical Society $70. There are lots of great deals for new collectors looking to get a toe in the water.

 

Once again, the runaway leader in lots offered was Heritage Auctions of Dallas, offering 218,619 in the category. Next was Catawiki with 20,935, RR Auction 14,990, Kiefer 13,464, and PBA San Francisco 11,721. Others offering over 10,000 lots in the category were Forum Auctions, Holabird Kagin Americana, Mirabaud-Mercier, Bubb Kuyper, and Trillium.

Rare Book Monthly

  • 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
  • Fonsie Mealy’s
    Rare Books & Collectors’ Sale
    April 30th & May 1st
    Fonsie Mealy’s, Apr 30-May 1: Taylor (Geo.) & Skinner (A.) Maps of the Roads of Ireland, Surveyed 1777. Lond. & Dublin 1778. €500 to €750.
    Fonsie Mealy’s, Apr 30-May 1: Messingham (Thos.) Florilegium Insulae Sanctorum seu Vitae et Acta Sanctorum Hibernia, Paris 1624. €350 to €500.
    Fonsie Mealy’s, Apr 30-May 1: Heaney (Seamus). The Haw Lantern, L. (Faber & Faber) 1987, First Edn., Signed and dated. €225 to €350.
    Fonsie Mealy’s, Apr 30-May 1: Valencey (Lt. Col. Chas.) Collectanea de Rebus Hibernicis, Vols. I-IV, 4 vols. Dublin 1786. €400 to €600.
    Fonsie Mealy’s, Apr 30-May 1: Powerscourt (Viscount). A Description and History of Powerscourt, Lond. 1903. €350 to €500.
    Fonsie Mealy’s, Apr 30-May 1: Moryson (Fynes). An Itinerary ... Containing His Ten Yeeres Travel Through the Twelve Dominions of Germany, Bohermerland, Sweitzerland…, Lond. (John Beale) 1617. €700 to €1,000.
    Fonsie Mealy’s, Apr 30-May 1: After Buffon, Birds of Europe, c. 1820. Approx. 120 fine hd. cold. plts., mor. backed boards. €125 to €250.
    Fonsie Mealy’s, Apr 30-May 1: Dunlevy (Andrew). An Teagasg Criosduidhe De Reir Ceasda agus Freagartha... The Catechism or Christian Doctrine by Way of Question and Answer, Paris (James Guerin) 1742. €400 to €700.
    Fonsie Mealy’s, Apr 30-May 1: The Georgian Society Records of Eighteen-Century Domestic Architecture in Dublin, 5 vols. Complete, Dublin 1909-1913. €500 to €750.
    Fonsie Mealy’s, Apr 30-May 1: Scale (Bernard). An Hibernian Atlas or General Description of the Kingdom of Ireland, L. (Robert Sayer & John Bennet) 1776. €625 to €850.
    Fonsie Mealy’s, Apr 30-May 1: [Johnson (Rev. Samuel)]. Julian the Apostate Being a Short Account of his Life, together with a Comparison of Popery and Paganism,L. (Langley Curtis) 1682. €300 to €400.
    Fonsie Mealy’s, Apr 30-May 1: Nichlson (Wm.) Illustrator. An Almanac of Twelve Sports, Lond. 1898. €300 to €400.
    Fonsie Mealy’s, Apr 30-May 1: Heaney (Seamus) trans. The Light of the Leaves, 2 vols., Mexico (Imprenta de los Tropicos/Bunholt) 1999. €1,500 to €2,000.
    Fonsie Mealy’s, Apr 30-May 1: Fleming (Ian). Moonraker, L. (Jonathan Cape) 1955. €1,500 to €2,000.
    Fonsie Mealy’s, Apr 30-May 1: Heaney (Seamus) & Egan (Felim) artist. Squarings, Twelve Poems, D. (Hieroglyph Editions Ltd.) 1991. €1,750 to €2,250.
  • Bonhams, Apr. 21-29: ANDERSEN'S EXTREMELY RARE FIRST APPEARANCE IN PRINT. "Scene af: Røverne i Vissenberg i Fyen." in Harpen, 1822.
    Bonhams, Apr. 21-29: FIRST ISSUE OF THE FIRST THREE FAIRY TALE PAMPHLETS, WITH ALL INDICES AND TITLE PAGES. Eventyr, fortalte for Børn. 1835-1837.
    Bonhams, Apr. 21-29: THE FIRST FAIRY TALES WITH A SIGNED CARTE DE VISITE OF ANDERSEN AS FRONTIS. Eventyr, fortalte for Børn. 1835-1837.
    Bonhams, Apr. 21-29: KARL LAGERFELD. Original pastel and ink drawing in gold, red and black for Andersen's The Emperor's New Clothes (1992), "La cassette de l'Empereur."
    Bonhams, Apr. 21-29: PRESENTATION COPY OF THE SIXTH PAMPHLET FOR PETER KOCH. Eventyr, Fortalte For Børn, Second Series, Third Pamphlet. 1841. Publisher's wrappers, complete with all pre- and post-matter.
    Bonhams, Apr. 21-29: HANS CHRISTIAN ANDERSEN RARE AUTOGRAPH QUOTATION SIGNED IN ENGLISH from "The Ugly Duckling," c.1860s.
    Bonhams, Apr. 21-29: HEINRICH LEFLER, ORIGINAL WATERCOLOR FOR ANDERSEN'S SNOW QUEEN, "Die Schneekönigin," 1910.
    Bonhams, Apr. 21-29: FIRST EDITION OF ANDERSEN'S FAIRY TALES IN ENGLISH. Wonderful Stories for Children. London, 1846.
    Bonhams, Apr. 21-29: ANDERSEN ON MEETING CHARLES DICKENS. Autograph Letter Signed ("H.C. Andersen") in English to William Jerdan, July 20, 1847.
    Bonhams, Apr. 21-29: PRESENTATION COPY FOR EDGAR COLLIN. Nye Eventyr og Historier. Anden Raekke. 1861.
    Bonhams, Apr. 21-29: DOLL HOUSE FURNITURE BY HANS CHRISTIAN ANDERSON, DECORATED WITH FANTASTICAL CUT-OUTS, for the children of Jonna Stampe (née Drewsen), his godchildren.
    Bonhams, Apr. 21-29: PRESENTATION COPY FOR GEORG BRANDES. Dryaden. Et Eventyr fra Udstillingstiden i Paris 1867. 1868.

Article Search

Archived Articles

Ask Questions