Save Time, Increase Profits: Take Control of Your Foreign Affairs
- by Renee Roberts
We might be buying from sellers who have no interest in US dollars, but want to be paid in pounds or euros.
By Renee Magriel Roberts
The Internet has not only pushed bookselling into automation, but also into hypertension-producing foreign markets. It's great having access to all those bookstores in Edinburgh, or the customers from Japan, but every single methodology commonly available to complete foreign transactions appears designed to create headaches and cost us money.
Where booksellers might have once just sold books locally, now we get orders emanating from all sorts of unusual locations -- I once received one that read "Joe Smith, Mauritius, Indian Ocean". We might be buying from sellers who have no interest in US dollars, but want to be paid in L (pounds sterling) or C (euros). If that weren't enough to create anxiety, vendors are anxious to have either checks in their home currencies, or worse still, wire transfers directly into their bank accounts.
In addition to direct sales, we frequently buy books from overseas vendors, or engage in third-party transactions, where we buy from another seller to meet the needs of one of our customers. When either customer or vendor is located overseas, the timing of these transactions can be a killer. How can you be assured that by the time you receive a check from your customer, the exchange rate offered by your bank in a wire transfer will enable you to make any kind of profit? With really thin margins on third-party transactions, you can lose money if the money market goes against you.
One can always choose to only buy and sell domestically. I can understand this decision, especially when shipping and insuring incoming and outgoing offshore transactions can significantly shave off any profits. You could just roll up the moat and make do with US sales, but that is not a formula for success in a global economy.
When the dollar dips against the pound, for example, we notice a definite upswing in our foreign sales, and conversely, when the dollar rises, it is a better time to buy stock from overseas. If you are going to engage successfully in international trade, you have to be aware of the relative values of different currencies in order to maximize your profits.
If you just use third party sites to handle sales transactions, understand that you are being charged many times for the service they provide: built into the commissions and fees you are paying are hidden fees, such as the use of your money over time and the shaving of profits off the transaction via the exchange rate. To ignore the cost of the currency exchange is to tacitly agree to a continuous tax.
Sotheby’s Books, Manuscripts and Music from Medieval to Modern Now through July 10, 2025
Sotheby’s Books, Manuscripts and Music from Medieval to Modern Now through July 10, 2025
Sotheby’s, Ending July 10: Book of Hours by the Masters of Otto van Moerdrecht, Use of Sarum, in Latin, Southern Netherlands (Bruges), c.1450. £20,000 to £30,000.
Sotheby’s, Ending July 10: Albert Einstein. Autograph letter signed, to Attilio Palatino, on his research into General Relativity, 12 May 1929. £12,000 to £18,000.
Sotheby’s, Ending July 10: John Gould. The Birds of Europe, [1832-] 1837, 5 volumes, contemporary half morocco, subscriber’s copy. £40,000 to £60,000.
Sotheby’s Books, Manuscripts and Music from Medieval to Modern Now through July 10, 2025
Sotheby’s, Ending July 10: Ian Fleming. A collection of James Bond first editions, 8 volumes in all. £8,000 to £12,000.
Sotheby’s, Ending July 10: J.K. Rowling. Harry Potter and the Philosopher's Stone, 1997, first edition, hardback issue. £50,000 to £70,000.
Sotheby’s, Ending July 10: J.R.R. Tolkien. Autograph letter signed, to Amy Ronald, on Pauline Baynes's map of Middle Earth, 1970. £7,000 to £10,000.
DOYLE, July 23: STOKES, I. N. PHELPS. The Iconography of Manhattan Island, 1498-1909. New York: Robert H. Dodd, 1915-28. Estimate: $3,000-5,000
DOYLE, July 23: [AUTOGRAPH - US PRESIDENT]FRANKLIN D. ROOSEVELT. A signed photograph of Franklin D. Roosevelt. Estimate $500-800
DOYLE, July 23: [ARION PRESS]. ABBOTT, EDWIN A. Flatland. A Romance of Many Dimensions. San Francisco, 1980. Estimate $2,000-3,000.
DOYLE, July 23: TOLSTOY, LYOF N. and NATHAN HASKELL DOLE, translator. Anna Karénina ... in eight parts. New York: Thomas Y. Crowell & Co., [1886]. Estimate: $400-600
DOYLE, July 23: ROWLING, J.K. Harry Potter and the Goblet of Fire. London: Bloomsbury, 2000. Estimate $1,200-1,800
Freeman’s | Hindman Western Manuscripts and Miniatures July 8, 2025
Freeman’s | Hindman Western Manuscripts and Miniatures July 8, 2025
Freeman’s | Hindman, July 8. FRANCESCO PETRARCH (b. Arezzo, 20 July 1304; d. Arqua Petrarca, 19 July 1374). $20,000-30,000.
Freeman’s | Hindman, July 8. CIRCLE OF THE MASTER OF THE VITAE IMPERATORUM (active Milan, 1431-1459). $15,000-20,000.
Freeman’s | Hindman, July 8. CIRCLE OF ATTAVANTE DEGLI ATTAVANTI (GABRIELLO DI VANTE) (active Florence, c. 1452-c. 1520/25). $15,000-20,000.
Freeman’s | Hindman, July 8. FOLLOWER OF HERMAN SCHEERE (active London, c. 1405-1425). $15,000-20,000.
Freeman’s | Hindman, July 8. An exceptionally rare, illuminated music leaf from a Mozarabic Antiphonal with sister leaves mostly in museum collections. $11,500-14,000.
Freeman’s | Hindman, July 8. Exceptional leaf from a prestigious Antiphonary by a leading illuminator of the late Duecento. $11,500-14,000.
Freeman’s | Hindman, July 8. CIRCLE OF THE MASTER OF MS REID 33 and SELWERD ABBEY SCRIPTORIUM (AGNES MARTINI?) (active The Netherlands, Groningen, c. 1468-1510). $10,000-15,000.
Freeman’s | Hindman, July 8. Previously unknown illumination from one of the most renowned Gothic Choir Book sets of the Middle Ages. $6,000-8,000.
Forum Auctions Fine Books, Manuscripts and Works on Paper 17th July 2025
Forum Auctions Fine Books, Manuscripts and Works on Paper 17th July 2025
Forum, July 17: Lucianus Samosatensis. Dialogoi, editio princeps, second issue, Florence, Laurentius Francisci de Alopa, 1496. £10,000 to £15,000.
Forum, July 17: Boccaccio (Giovanni). Il Decamerone, Florence, Philippo di Giunta, 1516. £10,000 to £15,000.
Forum, July 17: Henry VII (King) & Philip the Fair (Duke of Burgundy). [Intercursus Magnus], [Commercial and Political Treaty between Henry VII and Philip Duke of Burgundy], manuscript copy in Latin, original vellum, 1499. £8,000 to £12,000.
Forum, July 17: Bible, English. The Holy Bible, Conteyning the Old Testament, and the New, Robert Barker, 1613. £4,000 to £6,000.
Forum, July 17: Bond (Michael). A Bear Called Paddington, first edition, signed presentation inscription from the author, 1958. £4,000 to £6,000.
Forum Auctions Fine Books, Manuscripts and Works on Paper 17th July 2025
Forum, July 17: Yeats (William Butler). The Secret Rose, first edition, with extensive autograph corrections, additions and amendments by the author for a new edition, 1897. £6,000 to £8,000.
Forum, July 17: Byron (George Gordon Noel, Lord). Childe Harold's Pilgrimage, bound in dark green morocco elaborately tooled in gilt and with 3 watercolours to fore-edge, by Fazakerley of Liverpool, 1841. £4,000 to £6,000.
Forum, July 17: Miró (Juan), Wassily Kandinsky, John Buckland-Wright, Stanley William Hayter and others.- Spender (Stephen). Fraternity, one of 101 copies, with signed engravings by 9 artists. £6,000 to £8,000.
Forum, July 17: Sowerby (George Brettingham). Album comprising 22 leaves of original watercolour drawings of fossil remains of Cheltenham and Vicinity, [c.1840]. £6,000 to £8,000.
Forum, July 17: Mathematics.- Blue paper copy.- Euclid. De gli Elementi, Urbino, Appresso Domenico Frisolino, 1575. £12,000 to £18,000.