• <b>Bonhams, Dec. 5:</b> SHAKESPEARE, WILLIAM. <i>Macbeth: A Tragedy.</i> London, 1673. FIRST SEPARATE AND FIRST QUARTO EDITION. THE CHARLTON HESTON COPY. $80,000 to $120,000.
    <b>Bonhams, Dec. 5:</b> HEMINGWAY, ERNEST. <i>In Our Time.</i> Paris, 1924. FIRST EDITION, PRESENTATION COPY. $20,000 to $30,000.
    <b>Bonhams, Dec. 5:</b> HAWTHORNE, NATHANIEL. <i>Fanshawe, A Tale.</i> Boston, 1828. FIRST EDITION OF AUTHOR'S FIRST BOOK. $20,000 to $30,000.
    <b>Bonhams, Dec. 5:</b> THOREAU, HENRY DAVID. <i>Walden; Or, Life in the Woods.</i> Boston, 1854. FINE COPY OF THE FIRST EDITION. $10,000 to $15,000.
    <b>Bonhams, Dec. 5:</b> SHAKESPEARE, WILLIAM. <i>Comedies, Histories, and Tragedies.</i> London, 1685. THE FOURTH FOLIO, Brewster/Bentley issue. $20,000 to $30,000.
    <b>Bonhams, Dec. 5:</b> STEIG, WILLIAM. Original maquette and 58 finished drawings for <i>The Agony in the Kindergarten,</i> one of Steig's most important books. $10,000 to $15,000.
    <b>Bonhams, Dec. 5:</b> VERNE, JULES. <i>A Journey to the Centre of the Earth.</i> New York & London, 1872. FIRST EDITION, RARE AMERICAN ISSUE, with Scribner & Welford cancel title. $5,000 to $8,000.
    <b>Bonhams, Dec. 5:</b> KING, STEPHEN. <i>Carrie.</i> New York, 1974. INSCRIBED FIRST EDITION, OF AUTHOR'S FIRST BOOK. $1,200 to $1,800.
    <b>Bonhams, Dec. 4:</b> APPLE MACINTOSH PROTOTYPE. 1983. The earliest known Macintosh with "Twiggy" drive, one of only two known working machines. $120,000 to $180,000.
    <b>Bonhams, Dec. 4:</b> PLATO. <i>Timaeus</i> [AND] <i>Critias</i> [from Ficini's 1484 Opera]. A LANDMARK OF SCIENTIFIC THOUGHT. $80,000 to $120,000.
    <b>Bonhams, Dec. 4:</b> LOVELACE, AUGUSTA ADA. Sketch of the Analytical Engine Invented by Charles Babbage Esq. London, 1843. FIRST EDITION, JOURNAL ISSUE, MOST IMPORTANT PAPER IN EARLY DIGITAL COMPUTING. $15,000 to $20,000.
    <b>Bonhams, Dec. 4:</b> APPLE-1 COMPUTER. Signed by Steve Wozniak, used in development of Apple II. $200,000 to $300,000.
    <b>Bonhams, Dec. 4:</b> DARWIN, CHARLES. 1809-1882. <i>On the Origin of Species By Means of Natural Selection.</i> London, 1859. FIRST EDITION. $80,000 to $120,000.
  • <b>Christie’s London, Nov. 27:</b> [Peter I, Tsar]. <i>Simboly i emblemata ukazom i blagopovedenii imperatora Petra Alekseevicha [Symbola et emblemata jussu atque auspiciis Petri Alexeidis].</i> Amsterdam, 1705. £30,000 to £40,000
    <b>Christie’s London, Nov. 27:</b> Charlemagne, Adolf. Benefice d'Adieu de Madame Naptal. [St Petersburg: 16th February 1873]. £30,000 to £40,000
    <b>Christie’s London, Nov. 27:</b> [Military. Album.] [An album of drawings of weapons and their accessories, drawn from nature by the Second Cadets Corps.] St Petersburg, 1800. £100,000 to £150,000
    <b>Christie’s London, Nov. 27:</b> Pushkin, Alexander. <i>Evgenii Onegin.</i> St Petersburg: Dep. of Public Education, 1825-1832. £100,000 to £150,000
    <b>Christie’s London, Nov. 27:</b> Sumarokov, Pavel. <i>Dosugi krymskogo sud’i ili vtoroe puteshestvie v Tavridu. [The Leisure of a Crimean Judge or a Second Tour to Tauris].</i> St Petersburg: Imperial Press, 1803-5. £50,000 to £80,000
  • <center><b>Forum Auctions<br>Fine Books, Manuscripts and Works<br>on Paper including Books from The Collection of The Garden Ltd<br>November 21, 2019</b>
    <b>Forum Auctions, Nov. 21:</b> Bohr (Niels). <i>On the Constitution of Atoms and Molecules,</i> first edition, presentation copy, offprint 1913. £20,000 to £30,000
    <b>Forum Auctions, Nov. 21:</b> Shakespeare's Falstaff.- Henry V & Sir John Fastolf. Indenture agreement appointing Fastolf as Keeper of the Bastille of St Anthony at Paris, manuscript in French, 1421. £10,000 to £15,000
    <b>Forum Auctions, Nov. 21:</b> World.- Purchas (Samuel). <i>Purchas his Pilgrimes. In Five Books...,</i> 5 vol., first edition, 7 folding engraved maps, contemporary calf, by William Stansby for Henrie Fetherstone, 1625-26. £20,000 to £30,000
    <center><b>Forum Auctions<br>Fine Books, Manuscripts and Works<br>on Paper including Books from The Collection of The Garden Ltd<br>November 21, 2019</b>
    <b>Forum Auctions, Nov. 21:</b> Book of Hours.- Use of Rouen, manuscript on vellum, in Latin and French, illuminated with 14 full-page miniatures by the workshop or follower of the Maitre de l'Echevinage, Rouen, 1480s. £20,000 t0 £30,000
    <b>Forum Auctions, Nov. 21:</b> Giese (Raban, ?scholar and medical doctor). Album Amicorum of drawing on his travels and acquaintances in Europe 1618-21, 134 watercolour illustrations including c. 60 professional miniatures, 1618-39. £30,000 to £40,000
    <b>Forum Auctions, Nov. 21:</b> Jones (David). 14 Autograph Letters signed, 1952-68; and a small quantity of ephemera (sm. qty). £6,000 to £8,000
    <center><b>Forum Auctions<br>Fine Books, Manuscripts and Works<br>on Paper including Books from The Collection of The Garden Ltd<br>November 21, 2019</b>
    <b>Forum Auctions, Nov. 21:</b> Constable (John). Various Subjects of Landscape, Characteristic of English Scenery, signed presentation inscription from Constable, 1833. £6,000 to £8,000
    <b>Forum Auctions, Nov. 21:</b> Rembrandt van Rijn (1606-1669). The Descent from the Cross: Second Plate, etching and engraving, 1633. £6,000 to £8,000
    <b>Forum Auctions, Nov. 21:</b> Salvin (Francis Henry) and William Brodrick. <i>Falconry in the British Isles,</i> second edition, William Brodrick's copy with 3 original watercolours by him, 1873. £8,000 to £12,000
    <center><b>Forum Auctions<br>Fine Books, Manuscripts and Works<br>on Paper including Books from The Collection of The Garden Ltd<br>November 21, 2019</b>
    <b>Forum Auctions, Nov. 21:</b> China.- Helman (Isidore Stanislas Henri). <i>Suite des seize estampes representant les conquetes de l'Empereur de la Chine,</i> 1783-88. £10,000 to £15,000
    <b>Forum Auctions, Nov. 21:</b> Pratt (Edward Roger, 1789-1863). Album of 28 watercolours and other works on paper from a journey to ancient sites and monuments in the Mediterranean, [c.1830 and later]. £3,000 to £5,000
  • <center><b>Ketterer Rare Books<br>Auction on November 25th</b>
    <b>Ketterer Rare Books, November 25:</b> Fust-Schöffer-Bibel from Gutenberg-Press, 1462. Est: € 1,000,000
    <b>Ketterer Rare Books, November 25:</b><br>J. W. Weinmann, <i>Phytanthoza-Iconographia,</i> 1735-45. Est: € 60,000
    <b>Ketterer Rare Books, November 25:</b><br>O. Kokoschka, <i>Die träumenden Knaben,</i> 1917. Est: € 10,000
    <center><b>Ketterer Rare Books<br>Auction on November 25th</b>
    <b>Ketterer Rare Books, November 25:</b><br>Z. Lilius, <i>Orbis breviarium,</i> 1493. <br>Est: € 10,000
    <b>Ketterer Rare Books, November 25:</b> <i>Gazette du Bon Ton,</i> 1912-22.<br>Est: € 14,000
    <b>Ketterer Rare Books, November 25:</b><br>M. Chagall, <i>Daphnis & Chloé,</i> 1961. Est: € 100,000
    <center><b>Ketterer Rare Books<br>Auction on November 25th</b>
    <b>Ketterer Rare Books, November 25:</b><br>C. Ptolemaeus, <i>Geographie,</i> 1513.<br>Est: € 100,000
    <b>Ketterer Rare Books, November 25:</b><br>E. L. Kirchner, <i>Umbra vitae,</i> 1924.<br>Est: € 6,000
    <b>Ketterer Rare Books, November 25:</b><br>J. Miró, <i>Midi le trèfle blanc,</i> 1968. Est: € 2,000
    <center><b>Ketterer Rare Books<br>Auction on November 25th</b>
    <b>Ketterer Rare Books, November 25:</b> Clemens V., <i>Constitutiones,</i> 1471.<br>Est: € 14,000
    <b>Ketterer Rare Books, November 25:</b><br>C. Gesner, <i>Tierbuch, Vogelbuch, Fischbuch,</i> 1563-81. Est: € 5,000
    <b>Ketterer Rare Books, November 25:</b><br>J. Itten, <i>Utopia,</i> 1921. Est: € 2,000

Rare Book Monthly

Articles - September - 2013 Issue

Selling the Collection - No Easy Answers

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This is a small portion of the holdings of one older collector who finds “letting go is the hardest part.”

This month’s article is the outgrowth of a query to an on-line list-serve populated mainly by book dealers. No long ago the following post was received:


“Suppose for the moment that you are a "civilian" with a large accumulation of books, gathered over many years. Now it's time to dispose of the library. How would you go about doing it? What actions on your part or features of the collection would be most likely to make it salable or attract the attention of knowledgeable dealers?

 

“What should a seller do to dispose of a collection at reasonable prices?

“This is not entirely a rhetorical question,” the writer continued. “A neighbor of mine has spent his career as a professor of philosophy. He is now in his mid-80s. He has hinted that he might want me to give him some advice or help him dispose of his library ‘when the time comes.’ He has never been a real ‘collector’ but has been a prodigious accumulator of books for more than 60 years.

 

“Most of his house is stuffed with books, almost all non-fiction; I would estimate 8,000 - 10,000 volumes. It's heavy on philosophy, mostly ethics and esthetics, only a little epistemology or political philosophy. … He has never attempted to catalog his books -- as he says, ‘I know where everything is.’ All volumes are neatly shelved, and readily accessible. His books range from as-new condition to heavily-used.

“We have no used/rare/antiquarian dealers within 100 miles, except for a Half-Price Books store which is completely unable/unwilling to deal with this volume of books, especially in these categories. What do I tell him? That his books are worthless, or that dealers will offer him pennies (or less) on the dollar for his library? ….


“Although I have couched this inquiry in terms of my neighbor's books (a real case), the same or similar questions will eventually apply to my own collection. I have more volumes, and have focused more on acquiring rare and collectible items, but the same difficulties apply.

 

“There are no nearby dealers. Most of the specialist dealers with whom I have worked over the past half-century are dead, retired or trying to retire.”

 

The writer of this post, turned out to be a 70 year old professor emeritus at a large American university, who asked to remain anonymous. He estimated his own holdings in “Western Americana” from the Coronado Expedition to the 1840s might be 12,000-18,000 volumes. Though he is in good health and people in his family lived to “their 80s or 90s,” he knew the day would come when he’d need to sell.

 

His situation is far more common than might be expected. AE receives similar inquires quite frequently. Almost immediately he made several comments we’ve heard before including:

 

* “Letting it go is the hardest part.”

 

* “Don’t tell my wife how much I spend on books.”

 

* “What I’d really like is a good home, a place that will take good care of it.”

 

Like many who face the prospect of selling he’s torn between conflicting emotions. On one hand, he really doesn’t want to sell at all, on the other he hopes both to recover a good portion of what he’s spent and at the same time place it with “another individual who cares for it as much as I do… someone I could pass it on to ….sooner or later it’s got to pass.”

 

How much is his collection worth? Well that depends. This collector gave an estimate in the low six figures, but whether he will be able to realize that amount, or even a fraction of it, remains to be seen.

 

Probably nobody hears more stories like this one than AE Monthly publisher Bruce McKinney. McKinney is an ardent collector himself who has successfully sold some of his earlier holding. As such, he is frequently asked for his advice. He outlined the usual options: sell it all to a dealer, find an auction house that will take it, put it out on consignment or work with an institution.

 

He then proceeded to give a variety of reasons that all of these possibilities might be less than ideal from the seller’s point of view.

 

Looking at the auction option he observed that many sellers experience what he termed “auction anxiety.” The theory is, he said, “that a book is a book is a book,” and at least hypothetically the same item should bring a similar price if offered in a comparable setting, but, he explained, it seldom works that way. “A book that brings $800 in one auction can bring $2,500 at another.”

 

This kind of variable combined with a long time line and the unknown outcome create a tense situation. And then the auction houses can be very particular and selective. It may be hard to place your material, and the chances of all of it going to one place, in his opinion, were unlikely. He observed that auction houses seldom want the whole collection, only the highlights. It’s often the case that the majority of the value is found in only a handful of items.

 

Turning to institutions he noted that here the time lines and process can take years and that today’s special collections are often reluctant to commit to acquisition and care of materials where there is significant duplication of what they already own. That’s before we even get to a discussion of price.

 

As for dealers, McKinney pointed to an increasing reluctance to buy - i.e. spend their own money and an increasing trend toward consigning because “nobody really knows” where the market for books is going. And though consignment terms are negotiable, often time the seller ends up feeling “he’s been had” and because terms of consignment may not be well defined, the dealer sometimes shares those sentiments.

 

Add to the mix that the seller’s own ideas about the value of his holding is based on what things might have been worth in years past, but is often not realistic in light of the current market.

 

Said McKinney, “They can not bring themselves to believe they’re not going to get those prices today. Today’s price is often going to be lower. They’ve got to adjust their expectations.”

 

One new option he mentioned was a recently formed group called Collectorsfolio. This firm bills itself as a specialist in collection development. It also offers fee-for-service cataloging in digital format.

 

On the sell side it provides brokerage services for high end books - similar to the representation provided by a real estate agent. The present commission schedule quotes rates that in the book trade would be considered quite modest. One reason for that is the dealer has none of his own money tied up in the venture. McKinney sees this combination as “the new model.”

 

Jeremy O’Connor, 39 and Michael DiRuggiero, 41, are co-founders Collectorsfolio. It is an outgrowth of their firm Manhattan Rare Book Company (ABAA) in New York City which has been active in the trade since 1999.

 

According to O’Connor, Collectorsfolio is still in its early stages and came on-line this summer in a beta version. The concept, he said, “is a result of our conversation with our clients and their needs.”

 

On the cataloging side Collectorsfolio works with collectors to help create a digital file that can be converted to on-line use or can be printed. He said that charges to create these documents have so far ranged from a few hundred for inserting professionally taken photos into a Word file up to $5,500 dollars for a more soup-to-nuts approach for a catalog of Modern First Editions. The fee depends on the number of items, whether a basic list already exists, the complexity of the photography and a variety of other factors.

 

Once a digital document is prepared it can be a useful marketing tool for the seller, and give him “more leverage.” If desired Collectorsfolio can also act as a seller’s broker for a flat percentage which O’Connor quoted as “15 percent of items selling for up to $5,000 and 10 percent for books sold above $5,000.”

 

O’Connor thought that “the best owner for a book above $5,000 is a collector, with the dealer to act as agent for the prior owner.” Collectorsfolio always takes possession of the book before the transaction is completed. The difference between a dealer and a collector, he said, is ‘I never met a dealer who loved a book more the longer he had it.”

 

This writer, a dealer’s daughter and a dealer herself for more than 30 years, is only too familiar with the collector’s dilemma.

 

To realize top dollar takes planning, cataloging and usually a time line of several years. It requires realistic expectations and finding the right vehicle - be it auction, dealer, internet, institution or combination of any or all to achieve maximum value.

 

Asked for an opinion, I recommended first selling duplicates, then culling books that were no longer as interesting to the collector as they might have been in the past and selling those next, if only to get used to the idea of “selling.”

 

I also suggested using eBay as a very low cost vehicle to showcase attractive items as bait to find buyers who shared similar interests and had the financial resources to afford them.

 

The worst scenario is to do nothing and let time take its course. When a collector dies, the wives and families are seldom equipped to handle the disposal of the books that have been so lovingly accumulated.

 

Then the collection goes from being a treasured asset to a burden that needs to be liquidated and rapidly. The distress model yields the lowest prices and frequently brings turmoil to the heirs who in most cases know little or nothing about books or how to sell them.

 

----

 

Reach writer Susan Halas at wailukusue@gmail.com

 


Posted On: 2013-09-01 12:18
User Name: knathan

"When a collector dies, the wives and families are seldom equipped...."

Or husbands. I know we're in the minority, but women collect books as well!


Posted On: 2013-09-01 16:34
User Name: blackmud42

When I retired as a history professor, I donated my books to my university's library. As my collection was nothing special, I was pleasantly surprised to receive a charitable donation receipt that gave me a $14,000 tax deduction. I think such donation is an option any collector might well consider. You get a modest financial return, save a lot of bother, and have the satisfaction of knowing your books will be put to good use.


Rare Book Monthly

  • <b>Swann Auction Galleries Dec 10:</b><br>Dr. Seuss, pen, ink & watercolor, calendar illustration, Thomas D. Murphy Company, 1937. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 10:</b> Georges Lepape, <i>Sur la Terrasse,</i> gouache & pencil, cover for <i>Vogue,</i> 1930. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 10:</b> Charles Dana Gibson, <i>The Coming Game, Yale vs. Vassar,</i> pen & ink, for <i>Life</i> magazine, 1895. $2,000 to $3,000.
    <b>Swann Auction Galleries Dec 10:</b><br>H.A. Rey, color pencil, charcoal, watercolor & gouache, for <i>Rafi et les 9 singes,</i> 1939. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 10:</b> Ernest H. Shepard, pen & ink, for Kenneth Grahame’s <i>Bertie’s Escapade,</i> 1949. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 10:</b> Charles Schulz, <i>The Biggest Star Measured So Far,</i> ink & wash, original <i>Peanuts</i> cartoon, published 1961. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 10:</b> Saul Steinberg, <i>12 Biographies, A to B,</i> pen & ink with collage, final illustration in his book <i>The Labyrinth,</i> 1960. $12,000 to $18,000.
    <b>Swann Auction Galleries Dec 10:</b><br>Jo Mielziner, <i>A Streetcar Named Desire,</i> watercolor, graphite & gouache, first color study for the award-winning 1947 production. $7,000 to $10,000.
    <b>Swann Auction Galleries Dec 10:</b> Charles Addams, <i>Nevermore,</i> watercolor & ink, for <i>The New Yorker,</i> 1973. $12,000 to $18,000.
    <b>Swann Auction Galleries Dec 10:</b> James Montgomery Flagg, <i>I Should Worry,</i> watercolor, gouache & graphite, cover for <i>Judge</i> magazine, 1914. $5,000 to $7,500.
    <b>Swann Auction Galleries Dec 10:</b> Edward Gorey, <i>Swan Lake, Hunters/Siegfried, Van Rothbart,</i> watercolor, pen & ink, costume designs, 1975. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 10:</b> Ludwig Bemelmans, <i>Sketch for Madeline,</i> gouache & ink. $6,000 to $9,000.

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