Rare Book Monthly

Articles - October - 2008 Issue

Hunkering Down

Crowd gathering on Wall Street, 1929.

Crowd gathering on Wall Street, 1929.


by Renée Magriel Roberts

With all of the craziness going on this week, I was thinking about doing a review of John Kenneth Galbraith's The Great Crash 1929, but instead I decided to share what we've been doing and thinking about doing to insure that we don't go down the tubes along with everyone else headed in that direction.

Keeping It Simple and Small

First of all, we decided to keep our business simple and to keep it small. By simple, I mean that basically two people can do everything. We resist exponential growth - growth that may force us to rent additonal warehouse space, or hire additional people. Instead we have automated everything that can reasonably be automated, we review our stock on a regular basis so that we are not carrying junk that is taking up space, and when and if we do need people, we work with them as consultants or as skilled professionals who have businesses of their own.

Good Stuff Sells

Good stuff sells and continues to sell. Really rare material that is of interest has held up very well, even in what might be viewed as a "soft" market. Instead of buying huge lots of books and looking for those needles in the proverbial haystack, we buy only selectively and with purpose. We buy to increase our holdings in certain targeted areas, or we buy because we know we have a customer ready at the other end. By narrowing our focus to say, Americana, or British politics in the early nineteenth century, we can buy with knowledge. We have virtually given up going to library book sales, or buying huge lots of books randomly.

Keeping an Eye on Profitability

You have to either increase your sales or decrease your costs to become more profitable, or to hold your own in a soft market. We've done a lot of research on shipping domestically and internationally in order to trim the costs (and provide better service) in this area. We currently use FedEx international, Pitney Bowes, UPS and the USPS, as well as variants of the above. We use less expensive recycled materials for packing when possible (something, by the way, appreciated by our environmentally-conscious customers).

On the sales side we've worked for several years now to expand our sales safely to foreign marketplaces so that when the dollar is weak we get stronger foreign sales.

Reducing the Cost of Overhead

We used to have two bricks-and-mortar computer stores and they cost a fortune. We are now set up with an interwined bookstore/home, keeping the rarest items off-site securely. This allows us to partially expense many items as the cost of doing business, while avoiding the overhead of rent and maintenance of a separate space.

Rare Book Monthly

  • Gros & Delettrez
    Livres & Manuscrits Arméniens
    Jeudi 12 juin 2025
    Paris, Francis
    Gros & Delettrez, June 12: BIBLE, Venise 1733, reliure arménienne
    Gros & Delettrez, June 12: CHARAKNOTS, manuscrit XVIIe-XVIIIe siècle
    Gros & Delettrez, June 12: CHARAKNOTS, manuscrit daté 1606, reliure arménienne
    Gros & Delettrez, June 12: CHARAKNOTS, manuscrit début XVIIIe siècle, reliure arménienne
    Gros & Delettrez, June 12: CHARAKNOTS, Amsterdam 1664
    Gros & Delettrez, June 12: CHARAKNOTS, Amsterdam 1702, reliure arménienne
    Gros & Delettrez, June 12: DICTIONNAIRE arménien, manuscrit XVIIe-XVIIIe siècle.
    Gros & Delettrez, June 12: EVANGILE, manuscrit 1735-1737, reliure arménienne
    Gros & Delettrez, June 12: LIVRE DE PRIERES, Grégoire de Narek, manuscrit
    Gros & Delettrez, June 12: GEOGRAPHIE, Ghoukas INDJIDJIAN, Venise 1802-1806
    Gros & Delettrez, June 12: MANUSCRIT THEOLOGIQUE, XVIe-XVIIe siècle
    Gros & Delettrez, June 12: MASHTOTS, manuscrit XVIIIe-XIXe siècle, reliure arménienne
    Gros & Delettrez, June 12: LETTRE ENCYCLIQUE, manuscrit XIXe siècle
    Gros & Delettrez, June 12: NOUVEAU TESTAMENT, Amsterdam 1668, reliure arménienne
  • Rose City Book & Paper Fair
    June 14-15, 2025
    1000 NE Multnomah, Portland
    ROSECITYBOOKFAIR.COM
  • Swann, June 12: Lot 3:
    Thomas McKenney and James Hall, History of the Indian Tribes of North America, 1848-1854. Estimate $3,000 to $4,000.
    Swann, June 12: Lot 8:
    Invoice to the Town of Boston for advertising pre-revolutionary content in the Boston Post Boy, manuscript document, Boston, July 1768. Estimate $5,000 to $7,500.
    Swann, June 12: Lot 13:
    Clairac and Nicola, L'Ingenieur de Campagne; or, Field
    Swann, June 12: Lot 81:
    Journals of Major Robert Rogers . . . of the Several Excursions he Made . . . upon the Continent of North America, London, 1765. Estimate $4,000 to $6,000.
    Swann, June 12: Lot 99:
    Photograph albums and papers from the family of W.G. Fargo, photo albums containing 442 photographs, 1865-88. Estimate $3,000 to $4,000.
    Swann, June 12: Lot 112:
    Isaac Leeser, Discourses on the Jewish Religion, 10 volumes, Philadelphia: Sherman & Co., 1866-1868. Estimate $6,000 to $9,000.
    Swann, June 12: Lot 176:
    Frederick Douglass, Narrative of the Life of Frederick Douglass, an American Slave, Boston, 1845. Estimate $4,000 to $6,000.
    Swann, June 12: Lot 190:
    Thomas Hariot, Admiranda narratio fida tamen, de commodis et incolarum ritibus Virginiae, 1590. Estimate $25,000 to $35,000.
    Swann, June 12: Lot 200:
    Correspondence of a regimental cavalry commander in Wyoming and Utah, July 1865 to February 1866. Estimate $4,000 to $6,000.
    Swann, June 12: Lot 226:
    Maturino Gilberti, Vocabulario en lengua de Mechuacan / Aqui comienca el vocabulario en la lengua Castellana y Mechuacana, 1559. Estimate $8,000 to $12,000.
  • Sotheby's
    Bibliothèque Jacques Dauchez - Autour de Dubuffet
    5-19 June
    Sotheby’s, June 5-19: Bissière, Roger. Cantique à notre frère soleil de saint François. 1954. 1,000 - 1,500 EUR
    Sotheby’s, June 5-19: Céline, Louis-Ferdinand. La vie & l’œuvre de Philippe Ignace Semmelweis. 1924. Rare édition originale, avec envoi. Joint : La Quinine en thérapeutique, 1925. 4,000 - 6,000 EUR
    Sotheby’s, June 5-19: Céline, Louis-Ferdinand. Mort à crédit. 1936. Édition originale. Bel exemplaire sur Hollande. 2,500 - 3,500 EUR
    Sotheby's
    Bibliothèque Jacques Dauchez - Autour de Dubuffet
    5-19 June
    Sotheby’s, June 5-19: Chillida, Eduardo ─ Emil Cioran. Face aux instants. 1985. Un des 100 exemplaires sur Arches. Eau-forte signée. 600 - 800 EUR
    Sotheby’s, June 5-19: Dubuffet, Jean. Ler dla canpane. L’Art Brut, 1948. Édition originale. 3,000 - 5,000 EUR
    Sotheby’s, June 5-19: Dubuffet, Jean. L'Herne Jean Dubuffet. 1973. Un des 100 exemplaires du tirage de luxe avec une sérigraphie originale en couleurs. 1,000 - 1,500 EUR

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