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  • Old World Auctions (June 18): Lot 567. One of the Earliest & Most Desirable Printed Maps of Arabia - by Holle/Germanus (1482) Est. $55,000 - $65,000 Old World Auctions (June 18): Lot 567. One of the Earliest & Most Desirable Printed Maps of Arabia - by Holle/Germanus (1482) Est. $55,000 - $65,000
    Old World Auctions (June 18): Lot 567. One of the Earliest & Most Desirable Printed Maps of Arabia - by Holle/Germanus (1482) Est. $55,000 - $65,000
    Old World Auctions (June 18): Lot 567. One of the Earliest & Most Desirable Printed Maps of Arabia - by Holle/Germanus (1482) Est. $55,000 - $65,000
    Old World Auctions (June 18): Lot 681. Zatta's Complete Atlas with 218 Maps in Full Contemporary Color (1779) Est. $27,500 - $35,000
    Old World Auctions (June 18): Lot 347. MacDonald Gill's Landmark "Wonderground Map" of London (1914) Est. $1,800 - $2,100
    Old World Auctions (June 18): Lot 1. Fries' "Modern" World Map with Portraits of Five Kings (1525) Est. $4,000 - $4,750
    Old World Auctions (June 18): Lot 539. Ortelius' Superb, Decorative Map of Cyprus in Full Contemporary Color (1573) Est. $1,100 - $1,400
    Old World Auctions (June 18): Lot 51. Mercator's Foundation Map for the Americas in Full Contemporary Color (1630) Est. $3,250 - $4,000
    Old World Auctions (June 18): Lot 667. Manuscript Bible Leaf with Image of Mary and Baby Jesus (1450) Est. $1,900 - $2,200
    Old World Auctions (June 18): Lot 226. "A Powerful Example of Color Used to Make a Point" (1895) Est. $400 - $600
    Old World Auctions (June 18): Lot 290. One of the Most Decorative Early Maps of South America - from Linschoten's "Itinerario" (1596) Est. $7,000 - $8,500
    Old World Auctions (June 18): Lot 62. Coronelli's Influential Map of North America with the Island of California (1688) Est. $10,000 - $12,000
    Old World Auctions (June 18): Lot 589. The First European-Printed Map of China - by Ortelius (1584) Est. $4,000 - $5,000
  • Forum AuctionsA Sixth Selection of 16th and 17th Century English Books from the Fox Pointe Manor Library19th June 2025 Forum AuctionsA Sixth Selection of 16th and 17th Century English Books from the Fox Pointe Manor Library19th June 2025
    Forum Auctions
    A Sixth Selection of 16th and 17th Century English Books from the Fox Pointe Manor Library
    19th June 2025
    Forum Auctions
    A Sixth Selection of 16th and 17th Century English Books from the Fox Pointe Manor Library
    19th June 2025
    Forum, June 19: Euclid. The Elements of Geometrie, first edition in English of the first complete translation, [1570]. £20,000 to £30,000.
    Forum, June 19: Nicolay (Nicolas de). The Navigations, peregrinations and voyages, made into Turkie, first edition in English, 1585. £10,000 to £15,000.
    Forum, June 19: Shakespeare source book.- Montemayor (Jorge de). Diana of George of Montemayor, first edition in English, 1598. £6,000 to £8,000.
    Forum, June 19: Livius (Titus). The Romane Historie, first edition in English, translated by Philemon Holland, Adam Islip, 1600. £6,000 to £8,000.
    Forum Auctions
    A Sixth Selection of 16th and 17th Century English Books from the Fox Pointe Manor Library
    19th June 2025
    Forum, June 19: Robert Molesworth's copy.- Montaigne (Michel de). The Essayes Or Morall, Politike and Millitarie Discourses, first edition in English, 1603. £10,000 to £15,000.
    Forum, June 19: Shakespeare (William). The Tempest [&] The Two Gentlemen of Verona, from the Second Folio, [Printed by Thomas Cotes], 1632. £4,000 to £6,000.
    Forum, June 19: Boyle (Robert). Medicina Hydrostatica: or, Hydrostaticks Applyed to the Materia Medica, first edition, for Samuel Smith, 1690. £2,500 to £3,500.
    Forum, June 19: Locke (John). An Essay Concerning Humane Understanding in Four Books, first edition, second issue, 1690. £8,00 to £12,000.
  • Sotheby’sNew York Book Week12-26 June Sotheby’sNew York Book Week12-26 June
    Sotheby’s
    New York Book Week
    12-26 June
    Sotheby’s
    New York Book Week
    12-26 June
    Sotheby’s, June 25: Theocritus. Theocriti Eclogae triginta, Venice, Aldo Manuzio, February 1495/1496. 220,000 - 280,000 USD
    Sotheby’s, June 26: Fitzgerald, F. Scott. The Great Gatsby, 1925. 40,000 - 60,000 USD
    Sotheby’s, June 26: Blake, William. Songs of Innocence and of Experience, Printed ca. 1381-1832. 400,000 - 600,000 USD
    Sotheby’s, June 26: Lincoln, Abraham. Thirteenth Amendment, signed by Abraham Lincoln. 8,000,000 - 12,000,000 USD
    Sotheby’s, June 26: Galieli, Galileo. First Edition of the Foundation of Modern Astronomy, 1610. 300,000 - 400,000 USD

Rare Book Monthly

Articles - June - 2010 Issue

Sotheby's Briefly the Most Valuable Company on Earth

Sotheby's closing chart for May 6 showed a high price of $100,000 per share.

Sotheby's closing chart for May 6 showed a high price of $100,000 per share.


By Michael Stillman

The venerable auction house of Sotheby's, which began its life as an auctioneer of books, has been a successful business for centuries. Of course, books now constitute a small part of what is offered, but Sotheby's remains a major force in the field. This past year, Sotheby's has been a particularly good to investors. Its stock price has tripled in the last year, from a low of $10 to $30+.

However, sometimes news is a bit too good to be true, even for a strong company such as Sotheby's. On May 6, the stock market went into a chaotic freefall. Almost a month later, no one really knows why. In a matter of minutes, the Dow Jones average dropped almost 1,000 points, only to regain most of its losses a few minutes later. Charts for several reputable companies showed their stocks trading temporarily for huge losses. Intraday trades at losses greater than 60% were cancelled. However, some substantial companies showed their stocks had dipped as low as a penny, though it's doubtful anyone would have made such a trade. Computerized trading can wreak havoc on orderly markets.

Less known is that a few stocks experienced the exact opposite on that strange day. Enter Sotheby's. The stock opened at $34.61, and dropped as low as $27.85 intraday. However, somewhere along the way, the stock price reached an astronomical high (click the thumbnail image above left to see its daily chart for May 6). At its high point, Sotheby's supposedly reached a price of $100,000 per share. $100,000? At that moment, it was the most valuable company on earth. It dwarfed giants like Microsoft, Google, even Exxon. Heck, its value dwarfed the value of all of the major oil companies combined. Its price would have valued the company at $6.7 trillion, a figure higher than any monetary amount save for the U.S. national debt.

Alas, when things are too good to be true, they are too good to be true. After reaching $100,000, a price it is hard to imagine anyone actually paid, the stock settled back to $33 per share at the day's close. Sotheby's investors who purchased a year ago will again have to be content with a return of 200%, rather than one million percent. Easy come, easy go.

Rare Book Monthly

  • Dominic Winter AuctioneersJune 18 & 19Printed Books & Maps, Children's & Illustrated Books, Modern First Editions Dominic Winter AuctioneersJune 18 & 19Printed Books & Maps, Children's & Illustrated Books, Modern First Editions
    Dominic Winter Auctioneers
    June 18 & 19
    Printed Books & Maps, Children's & Illustrated Books, Modern First Editions
    Dominic Winter Auctioneers
    June 18 & 19
    Printed Books & Maps, Children's & Illustrated Books, Modern First Editions
    Dominic Winter, June 18-19: World. Van Geelkercken (N.), Orbis Terrarum Descriptio Duobis..., circa 1618. £4,000-6,000.
    Dominic Winter, June 18-19: Moll (Herman). A New Exact Map of the Dominions of the King of Great Britain..., circa 1715. £2,000-3,000.
    Dominic Winter, June 18-19: Churchill (Winston S.). The World Crisis, 5 volumes bound in 6, 1st edition, 1923-31. £1,000-1,500
    Dominic Winter Auctioneers
    June 18 & 19
    Printed Books & Maps, Children's & Illustrated Books, Modern First Editions
    Dominic Winter, June 18-19: Darwin (Charles). On the Origin of Species, 2nd edition, 2nd issue, 1860. £1,500-2,000.
    Dominic Winter, June 18-19: Roberts (David). The Holy Land, 6 volumes in 3, 1st quarto ed, 1855-56. £1,500-2,000.
    Dominic Winter, June 18-19: Saint-Exupéry (Antoine de, 1900-1944). Pilote de guerre (Flight to Arras), 1942. £10,000-15,000.
    Dominic Winter Auctioneers
    June 18 & 19
    Printed Books & Maps, Children's & Illustrated Books, Modern First Editions
    Dominic Winter, June 18-19: Austen (Jane, 1775-1817). Signature, cut from a letter, no date. £7,000-10,000
    Dominic Winter, June 18-19: Huxley (Aldous). Brave New World, 1st edition, with wraparound band, 1932. £4,000-6,000
    Dominic Winter, June 18-19: Tolkien (J. R. R.) The Hobbit, 1st edition, 2nd impression, 1937. £3,000-5,000
    Dominic Winter Auctioneers
    June 18 & 19
    Printed Books & Maps, Children's & Illustrated Books, Modern First Editions
    Dominic Winter, June 18-19: Rackham (Arthur, 1867-1939). Princess by the Sea (from Irish Fairy Tales), circa 1920. £4,000-6,000
    Dominic Winter, June 18-19: Kelmscott Press. The Story of the Glittering Plain, Walter Crane's copy, 1894. £3,000-4,000
    Dominic Winter, June 18-19: King (Jessie Marion, 1875-1949). The Summer House, watercolour. £4,000-6,000
  • Bonhams, June 16-24: KELMSCOTT PRESS. RUSKIN. The Nature of Gothic. 1892. $1,500 - $2,500
    Bonhams, June 16-24: ASHENDENE PRESS. The Wisdom of Jesus. 1932. $2,000 - $3,000
    Bonhams, June 16-24: CHARLOTTE BRONTE WRITES AS GOVERNESS. Autograph Letter Signed, 1851. $15,000 - $25,000
    Bonhams, June 16-24: FIRST AMERICAN EDITION OF WUTHERING HEIGHTS. BRONTE, Emily. New York, 1848. $3,000 - $5,000
    Bonhams, June 16-24: IAN FLEMING ASSOCIATION COPY. You Only Live Twice. London, 1964. $7,000 - $9,000
    Bonhams, June 16-24: DELUXE EDITION WITH ORIGINAL PAINTING. BUKOWSKI, Charles. War All the Time. 1984. $3,000 - $5,000
    Bonhams, June 16-24: EINSTEIN'S MOST POWERFUL STATEMENT ON THE ATOMIC BOMB. Original Typed Manuscript Signed, "On My Participation in the Atom Bomb Project," 1953. $100,000 - $150,000
    Bonhams, June 16-24: EINSTEIN ON SCIENCE, WAR AND MORALITY. Autograph Letter Signed, 1949. $20,000 - $30,000
    Bonhams, June 16-24: SOCIETY OF THE CINCINNATI. WASHINGTON, George. Engraved document signed, 1786. $8,000 - $12,000
    Bonhams, June 16-24: AN EARLY CHINESE-MADE 34-STAR U.S. CONSULAR FLAG. $8,000 - $12,000
    Bonhams, June 16-24: SIGNED PHOTOGRAPH OF LINCOLN WITH HIS SON TAD. 1864. $60,000 - $90,000
    Bonhams, June 16-24: MALCOLM X WRITES FROM KENYA. Postcard signed, 1964. $4,000 - $6,000
  • FinarteBooks, Autographs & PrintsJune 24 & 25, 2025 FinarteBooks, Autographs & PrintsJune 24 & 25, 2025
    Finarte
    Books, Autographs & Prints
    June 24 & 25, 2025
    Finarte
    Books, Autographs & Prints
    June 24 & 25, 2025
    Finarte, June 24-25: ALIGHIERI, DANTE / LANDINO, CRISTOFORO. Comento di Christophoro Landino Fiorentino sopra la Comedia di Danthe Alighieri poeta fiorentino, 1481. €40,000 to €50,000.
    Finarte, June 24-25: ALIGHIERI, DANTE. La Commedia [Commento di Christophorus Landinus]. Aggiunta: Marsilius Ficinus, Ad Dantem gratulatio [in latino e Italiano], 1487. €40,000 to €60,000.
    Finarte, June 24-25: ALIGHIERI, DANTE. Il Convivio, 1490. €20,000 to €25,000.
    Finarte
    Books, Autographs & Prints
    June 24 & 25, 2025
    Finarte, June 24-25: BANDELLO, MATTEO. La prima [-quarta] parte de le nouelle del Bandello, 1554. €7,000 to €9,000.
    Finarte, June 24-25: LEGATURA – PLUTARCO. Le vies des hommes illustres, grecs et romaines translates, 1567. €10,000 to €12,000.
    Finarte, June 24-25: TOLOMEO, CLAUDIO. Ptolemeo La Geografia di Claudio Ptolemeo Alessandrino, Con alcuni comenti…, 1548. €4,000 to €6,000.
    Finarte
    Books, Autographs & Prints
    June 24 & 25, 2025
    Finarte, June 24-25: FESTE - COPPOLA, GIOVANNI CARLO. Le nozze degli Dei, favola [...] rappresentata in musica in Firenze…, 1637. €6,000 to €8,000.
    Finarte, June 24-25: SPINOZA, BARUCH. Opera posthuma, 1677. €8,000 to €12,000.
    Finarte, June 24-25: PUSHKIN, ALEXANDER. Borus Godunov, 1831. €30,000 to €50,000.
    Finarte
    Books, Autographs & Prints
    June 24 & 25, 2025
    Finarte, June 24-25: LIBRO D'ARTISTA - LECUIRE, PIERRE. Ballets-minute, 1954. €35,000 to €40,000.
    Finarte, June 24-25: LIBRO D'ARTISTA - MAJAKOVSKIJ, VLADIMIR / LISSITZKY, LAZAR MARKOVICH. Dlia Golosa, 1923. €7,000 to €10,000.
    Finarte, June 24-25: LIBRO D'ARTISTA - MATISSE, HENRI / MONTHERLANT, HENRY DE. Pasiphaé. Chant de Minos., 1944. €22,000 to €24,000.
  • Bonhams, June 16-25: 15th-CENTURY TREATISE ON SYPHILIS. GRÜNPECK. 1496. $20,000 - $30,000
    Bonhams, June 16-25: THE NORMAN COPY OF BENIVIENI'S TREATISE ON PATHOLOGY. 1507. $12,000 - $18,000
    Bonhams, June 16-25: FRACASTORO. Syphilis sive Morbus Gallicus. 1530. $8,000 - $12,000
    Bonhams, June 16-25: THE FIRST PUBLISHED WORK ON SKIN DISEASES. MERCURIALIS. De morbis cutaneis... 1572. $10,000 - $15,000
    Bonhams, June 16-25: BIDLOO. Anatomia humani corporis... 1685. $6,000 - $9,000
    Bonhams, June 16-25: THE NORMAN COPY OF DOUGLASS'S EARLY AMERICAN WORK ON INNOCULATION AND SMALLPOX. 1722. $20,000 - $30,000
    Bonhams, June 16-25: LIND'S FIRST TREATISE ON SCURVY. 1753. $15,000 - $20,000
    Bonhams, June 16-25: RARE JENNER SIGNED CIRCULAR ON VACCINATION. 1821. $4,000 - $6,000
    Bonhams, June 16-25: MOST BEAUTIFUL OF MEDICAL ILLUSTRATIONS. BRIGHT. Reports of Medical Cases... 1827-1831. $10,000 - $15,000
    Bonhams, June 16-25: FLORENCE NIGHTINGALE PRESENTATION COPY TO HER MOTHER. 1860. $6,000 - $8,000
    Bonhams, June 16-25: LORENZO TRAVER'S MANUSCRIPT JOURNAL OF BURNSIDE'S NORTH CAROLINA EXPEDITION. TRAVER, Lorenzo. $2,000 - $3,000
    Bonhams, June 16-25: ONE OF THE EARLIEST PHOTOGRAPHIC BOOKS ON DERMATOLOGY. HARDY. Clinique Photographique... 1868. $3,000 - $5,000

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