Rare Book Monthly

Articles - February - 2018 Issue

Auction Prices for Books and Paper Dipped by 1% in 2017

Prices at auction for lots in the books and paper field took a modest dip in 2017. The median price slipped from $270 to $267, or 1.1%. It nearly wiped out last year's almost as modest 1.5% increase. On the other hand, the average price dropped more sharply, from $2,011 to $1,859, but this is not a very meaningful figure. It takes only one or two books at several millions to greatly skew the average price, and 2017 was a year without any blockbuster sales.

 

The number of lots sold at auction increased by 5.8% last year. There were 312,154 lots we tracked sold in 2017, vs. 295,143 in 2016. That is an increase of about 17,000 lots sold. Around 12,000 more lots were offered, indicating an increase in the sell-through rate as well. The sales rate for 2017 was 74.7%, vs. 72.7% the previous year. A 2% increase in the sell-through rate is substantial, and perhaps the small decrease in the median price reflects a willingness to take a little less to make a sale.

 

The percentage of books sold by price range was identical to 2016. Once again, 24% of the lots were priced below $100, 79% below $1,000. At the other end, 21% were above $1,000, 6% above $5,000, and 3% above $10,000.

 

The ratio of lots sold over the high estimate to lots sold below the low estimate was almost unchanged. A total of 58% of the lots sold went for more than the high estimate, while only 24% sold for under the low estimate. However, if you add lots unsold to the ones sold below the low estimate, the numbers are virtually identical. There were 179,958 lots that sold either below the low estimate or not at all, and 179,920 that sold above the high estimate. That is 44% of all lots offered for each, leaving 12% that were priced correctly!

 

The fourth quarter of the year has traditionally been the busiest time of year, though in 2016, the second quarter matched the fourth in terms of lots offered. In 2017, the auction houses reverted to form, with 34.3% of all lots offered in the fourth quarter vs. 28.9% in the second quarter. That was just as well as the sell-through rate was 74.9% for the fourth quarter vs. only 70.8% for the second quarter. As is usually the case, November was the busiest month. There were 56,656 lots offered, or 13.6% of the lots offered for the year. Sell-through was a robust 77%. August was again the slowest month, with just 17,676 lots offered, or only 4.2% of the total. However, the sell-through rate for August was the highest of the year at 80%. That is a surprise considering most people are expected to be on vacation.

 

Again following form, the highest median prices were achieved at the various branches of Sotheby's and Christie's. Highest overall, at an even $10,000, was the New York branch of Sotheby's. However, if prices at that level are a bit rich for the average buyer, there were 11 auction houses that offered more than 1,000 lots where the median was under $100. For the lowest of the low, check out the sales at the Lancaster Mennonite Historical Society. They won't break your budget, with a median of $12. In other words, half of their sold items went for less than $12. 98% sold for under $100. As for volume of lots sold, the runaway leader is Heritage Auctions' Dallas location. They sold 92,718 lots. The distant runner up was Kiefer Buch of Germany with 10,459.

 

Last month, we reported on the top 500 most expensive lots sold at auction in 2017. That report can be found by clicking here.

Rare Book Monthly

  • Gros & Delettrez, 7 November:
    APRES DE MANNEVILLETTE
    Le Neptune Oriental
    Gros & Delettrez, 7 November:
    CASSAS
    Eaux fortes de la Sicile et quelques vues d’Espagne
    Gros & Delettrez, 7 November:
    CASSINI DE THURY
    Carte générale et particulière de la France.
    Gros & Delettrez, 7 November:
    JOUY; GARNERAY
    Vues des côtes de France dans l'Océan et dans la Méditerranée
    Gros & Delettrez, 7 November:
    LA PÉROUSE
    Voyage autour du monde
    Gros & Delettrez, 7 November:
    LE GENTIL DE LA GALAISIERE
    Voyage dans les Mers de l’Inde
    Gros & Delettrez, 7 November:
    LICENT
    Hoang Ho, Pai Ho, Loan Ho, Leao Ho. Itinéraires suivis dans le bassin du golfe du Pei Tcheuly
    Gros & Delettrez, 7 November:
    FRENCH SCHOOL FROM THE 19th CENTURY
    Panorama d’Athènes
    Gros & Delettrez, 7 November:
    PEETERS
    Description des principales villes, havres et isles du golfe de Venise
    Gros & Delettrez, 7 November:
    PÉRON; FREYCINET
    Voyage de découverte aux terres australes
    Gros & Delettrez, 7 November:
    STACKELBERG
    La Grèce : vues pittoresques et topographiques.
    Gros & Delettrez, 7 November:
    VALENTINER
    Atlas des Sonnensystems.
  • Forum Auctions
    Online Sale:
    The Detective Fiction Collection of John Cooper
    Ending 7th November, 2024
    Forum, Nov. 7: Christie (Agatha). The Thirteen Problems, first edition, The Crime Club, 1932. £15,000 to £20,000.
    Forum, Nov. 7: Christie (Agatha). Dumb Witness, first edition, 1937. £3,000 to £4,000.
    Forum, Nov. 7: Christie (Agatha). Cards on the Table, first edition, The Crime Club, 1936. £2,000 to £3,000.
    Forum, Nov. 7: [Carr (John Dickson)], "Carter Dickson" and John Rhode. Drop to his Death, first edition, Heinemann, [1939]. £600 to £800.
    Forum, Nov. 7: Berkeley (Anthony). Jumping Jenny, first edition, Hodder and Stoughton, 1933. £800 to £1,200.
    Forum Auctions
    Online Sale:
    The Detective Fiction Collection of John Cooper
    Ending 7th November, 2024
    Forum, Nov. 7: Marsh (Ngaio). Overture to Death, first edition, The Crime Club, 1939. £600 to £800.
    Forum, Nov. 7: [Day-Lewis (Cecil)] "Nicholas Blake". The Beast Must Die, first edition, 1938. £750 to £1,000.
    Forum, Nov. 7: Brand (Christianna). Green for Danger, first edition, signed presentation inscription from the author, John Lane the Bodley Head, 1945. £600 to £800.
    Forum, Nov. 7: Christie (Agatha). Murder is Easy, first edition, signed by the author, 1939. £3,000 to £4,000.
    Forum, Nov. 7: Sayers (Dorothy L.) Lord Peter Views the Body, first edition, Gollancz, 1928. £6,000 to £8,000.
  • RareBookBuyer.com
    We Buy Librairies & Rare Books Nationwide
    ABAA Dealer
    RareBookBuyer.com
    Specialized in Purchasing
    Institutional Collections & Deacccessioned Books
    RareBookBuyer.com
    We Buy Librairies & Rare Books Nationwide
    ABAA Dealer
    RareBookBuyer.com
    Specialized in Purchasing
    Institutional Collections & Deacccessioned Books
    RareBookBuyer.com
    We Buy Librairies & Rare Books Nationwide
    ABAA Dealer
    RareBookBuyer.com
    Specialized in Purchasing
    Institutional Collections & Deacccessioned Books
    RareBookBuyer.com
    We Buy Librairies & Rare Books Nationwide
    ABAA Dealer
    RareBookBuyer.com
    Specialized in Purchasing
    Institutional Collections & Deacccessioned Books
    RareBookBuyer.com
    We Buy Librairies & Rare Books Nationwide
    ABAA Dealer
  • Sotheby's
    Fine Books, Manuscripts & More
    Available for Immediate Purchase
    Sotheby’s: J.R.R. Tolkien. The Lord of the Rings Trilogy. 11,135 USD
    Sotheby’s: Edgar Allan Poe. The Raven and Other Poems, 1845. 33,000 USD
    Sotheby’s: Leo Tolstoy, Clara Bow. War and Peace, 1886. 22,500 USD
    Sotheby’s: Sir Arthur Conan Doyle. Adventures of Sherlock Holmes, 1902. 7,500 USD
    Sotheby’s: F. Scott Fitzgerald. This Side of Paradise, The Great Gatsby, and Others, 1920-1941. 24,180 USD
  • Freeman’s | Hindman
    Fine Printed Books and Manuscripts, Including Americana
    November 14
    Freeman’s | Hindman, Nov. 14: LEROUX, Gaston. The Phantom of the Opera. FIRST AM. ED, FIRST ISSUE IN THE VERY RARE DUST JACKET. 1911. $6,000 – 8,000.
    Freeman’s | Hindman, Nov. 14: GOULD, John. A Monograph of the Trochilidae...Humming-Birds. L., [1849-] 1861. $60,000 – 80,000.
    Freeman’s | Hindman, Nov. 14: A COMPLETE RUN of Limited Editions Club publications, v.p. [mostly New York], 1929-2010. $50,000 – 60,000.
    Freeman’s | Hindman, Nov. 14: ORWELL, George. Nineteen Eighty-Four. Lon., 1949. FIRST EDITION IN A VERY FINE DUST JACKET. $6,000 – 8,000.
    Freeman’s | Hindman, Nov. 14: GOULD. A Monograph of the Ramphastidae...Toucans. L., [1852-] 54. SECOND ED. $35,000 – 45,000.
    Freeman’s | Hindman, Nov. 14: The Federalist. NY, 1788. FIRST EDITION, THICK PAPER COPY. $60,000 – 80,000.
    Freeman’s | Hindman, Nov. 14: SELBY. Plates to Selby’s Illustrations of British Ornithology. Edin., [1833-] 34. $20,000 – 30,000.

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