Contact us at WeBuyRareBooks@gmail.com or Text Photos (646) 469-1851 for a free evaluation of your old and rare books. Our main gallery is located by appt. at 1050 2nd Ave (@55th) Gallery 90 in the Manhattan Art and Antique Center. We also are opening a second office in San Diego, CA by appt. only. We travel widely and buy nationwide.
I was recently selling a NYC coop, feeling overwhelmed at the amount of paperwork and due diligence necessary to transfer ownership of shares, when I was offered a medieval deed. It is a relatively small and simple document, when a man could transfer his earthly possessions- or in this case half his landholdings- on a mere document only 7 x 3″ inches in size. It opens simply in Latin: To all [men] present and future…
So, what is the value of a document like this from the 14th century? Surprisingly, they can be collected for rather modest sums. Here are a couple records for other similar documents pulled from the ABPC manuscript database – a subscriber database that is an essential tool for examining past auction records of comparable books and documents and substantiating a fair market value.
England – _ KENT. – Document. Deed of Gift. [23 Feb 1411]. No size or length given. William George conveys a house in the village of Shynglewelle [sic]. Parchment. In Latin. Stained. – Winter, Apr 12, 2006, lot 294, £140 ($248)
England – _ KENT. – Document. Deed of Gift. [12 Mar 1398]. No size or length given. John Spernor de Cobham & John Topleche convey to Simon Lepy a plot of land in Shyngled Well [sic] .Parchment. In Latin. Stained. – Illus in cat – Winter, Apr 12, 2006, lot 293, £240 ($424)
True, this one is perhaps a bit earlier than some of the examples listed above (and dates to the early part of the 14th century). However, at auction it would at most reasonably fall into the $400-500 range and perhaps a bit less as it is missing its original hanging seal.
To me that is rather remarkable: this small and ephemeral document has escaped the ravages of time for 700 years and is only worth approx. $500? Thankfully, it is written on vellum, a strong and utilitarian material which aided its survival. Still, the manuscript provides insight into paleography (the study of ancient and historical handwriting), English medieval history, early legal history, and when framed is a rather remarkable and impactful object for the pleasure of both the eye and mind. Perhaps old Latin documents are bit too erudite for most and that has kept the prices low, but for the keen collector they are a bargain that will not last in the years ahead. And certainly, I should send one to my real estate lawyer to show him how simple a document could be 😉
[ENGLISH MEDIEVAL DEED] Early 14th century. [Incipit] Sciant p[re]sentes & fut[ur]i q[uo]d ego Robert de edui? dedi concessi & hac p[re]senti carta mea confirmaui Simoni filio… A fine medieval example of a deed of gift bequeathing half of his lands to his son Simon.. 7 x 3 inches on vellum, evidence of attached seal at lower center. With scarce 14th-15th century English explanatory text to verso. Small holes but generally very good.
Many times I am asked to value a rare book and am forced to gently explain to the owner (who may have seen a complete copy online or at auction at a high price) that an incomplete copy is worth a very small fraction of the value of a complete work. The expectation is often that if a book is just missing a page or two, then the price would be affected somewhat, but still within reason. More often than not, that is not the case however and the price is actually drastically affected. Part of the reason no doubt is that while many collectors buy rare books of interest to them, they do keep an eye as well on their investment potential and future resale value. Buying rare books is one thing and selling rare books is another. It is often very hard to get future buyers to pay thousands of dollars for a book- even a very rare one- that is described in an apologetic tone with words such a “lacking” or “missing” or “wanting” (the preferred marketing euphemism of booksellers).
Nevertheless there are always exceptions to the rule, and sellers and owners are advised to consult a rare book expert even if their work is incomplete.
A couple weeks ago I was offered an incomplete book- a 1563 first edition of Foxe’s Book of Martyrs- or the Actes and Monuments of these Latter and Perillous Days, Touching Matters of the Church. This was one of the most influential books of the 16th century, published early in the reign of Queen Elizabeth I.
Here are a couple photos of the large thick folio- a testament to one of the most complex printings of the period.
It can immediately be seen when opening the book that it lacking the title page- indeed a closer inspection and study reveals that it is actually lacking the title, frontispiece, and last leaf. It is equally true that despite their age most books of the 16th century, if found in a similar state, only fetch modest prices at auction.
This is not the case for Foxe’s Book of Martyrs however. A search of the ABPC auction database as well as the RareBookHub indicate that there have not been any complete copies sold at auction in the last 30 years of records. In fact, as one searches further back in time, it s clear that the popular book was often read to death and complete copies are virtually unheard of in commerce. As far back as 1907, a rare book catalogue found in Google Books offers an imperfect copy for 80 sterling and adds to justify the price that “no absolutely perfect copy is known.” That may be an exaggeration or marketing ploy of an eager turn of the century bookseller, but it nevertheless indicates how rare complete copies are. As such, despite its imperfect state, the book remains both valuable and highly desirable.
In any case, an incomplete work is better than a non-existent copy. The woodcut below, inserted at p. 1548 in Foxe’s Book, shows the fate that befell many books including being burned in a pyre. We have to be thankful that some works survived at all and, like many things in life, learn to forgive and be tolerant of imperfections.
“Condition, condition, condition!” That is often the phrase I hear antiquarian booksellers use as a warning to collectors- an echo of the most important thing to remember in real estate: “location, location, location!”
This, it must be said, is generally true. Condition does have an important effect on the value of rare books- and often to degree that makes little sense to anyone with a rational understanding of the ravages of time or an appreciation of history. Yes, if a copy of a modern first edition lacks its dust jacket, and there are an abundance of other freshly printed copies, there is little excuse not to buy a fine copy and consequently, any that do not measure up can be expected to be worth a mere fraction.
Should this be true, however, for antiquarian books that have travelled continents, passed through endless hands, been poured over in dim evening light next to irregularly melting candles, hid themselves in corners and basements from the horrors of war, and have borne witness to revolutions and peace? (remember what adaptable survivors books are the next time someone asks if books can survive the Kindle).
First, condition should be evaluated by a professional bookseller. Do not assume just because your book looks in poor condition that it is in poor condition. There have been many instances when someone has sent me a book described as “worn and shoddy, or in poor condition” only to see that they are describing a book in the rare publisher’s cloth boards or a modest early 18th century American tree bark binding of great collectible value. Additionally, certain titles and books – if they are rare enough- have to be compared with the number of surviving copies and the state and condition of those copies. I have had books that are “incomplete”- perhaps the most damaging adjective to a book’s monetary value- only to have discovered that it is the most complete and best surviving copy (and have then priced it accordingly!)
I am one of those dealers that does NOT obsess over condition and appreciate (an even imagine) the stories that led a book to its present state. As such, I am also against unnecessary restoration of books, to transform them into something they are not (handsome salable copies) and in essence to destroy (or at least detract from) part of their story.
Here are a few examples of the common condition problems that can befall books:
RATS:
Below is a legal manuscript from the first quarter of the 16th century: Manuscript, Statutes and Ordinances of the Diocese of Nantes [France, c.1515]. It was written shortly after the death of Anne of Brittany. In the corner, some rodent had a field day munching on the fine vellum, but thankfully due to generous margins, missed the text itself or just at least preferred the “white” rather than the “dark” meat. I imagine that as soon as the French Wars of Religion got into full swing that this Catholic statute book was abandoned in the basement of a church with the rats running loose until at least the 19th century when it was rediscovered (as it contains some notes on the flyleaf.)
WORMS:
Here is a humble little volume – and a rare one- of the Italian Renaissance poet Ascanio Grandi, printed in 1636, where worms have left their mark. Worms approach books with a callous indifference to subject matter- whether mundane or erudite- but at least they love books. The turns and twists they make through the pages, if not hinting at 16th century fractal patterns, can be be appreciated for their natural beauty and modern artistic sensibilities.
FLOODS:
Below is a 1616 folio of the collected works of of Ben Jonson. This folio was crucial to developments in the publication of English literature and English Renaissance drama- and in no small measure inspired the publication in 1623 of Shakespeare’s First Folio (which helped preserve his works for us). One can see that the work was severely damaged by the now brittle damp-stains of a flood. What student in Oxford in the 17th century was sitting reading with few cares by the Thames and dropped in momentarily into the water when a pretty maiden caught his eye? As Shakespeare said, “there is a tide in the affairs of men, Which taken at the flood, leads on to fortune.” If only this were true of books.
FIRE:
Here is a book whose damage really tells a story. It is another work of Renaissance poetry, but this one came from and has the stamps of the Vatican Library! Inside a c. 1920s bookseller’s catalog clipping is tipped-in stating :”A curious collectors relic: a scorched book from the only fire in Vatican Library history. Contents sound, but singes covers preserved as grim momentos…” The fire which broke out in the Vatican on November 1,1903, seriously endangered the library and art collection, and had it not been contained, would have taken its place in history next to the burning of the Alexandrian library.
FINALLY:
I must conclude with an image where an unusual condition flaw (a splotch of ink) perhaps raises the value of the sullied manuscript to an inestimable degree (or at least made it a wonderful curiosity! Here a cat, always indifferent to anything of potential value more than itself, walked across this manuscript in the 15th century and left his prints.
[Ref: Cat paws in a fifteenth-century manuscript (photo taken at the Dubrovnik archives by @EmirOFilipovic)]
If you are curious about the value of your antiquarian, antique, or rare book, and want a free evaluation and for me to assess its condition- don’t hesitate to send photos to webuyrarebooks@gmail.com
I sometimes recommend major auction houses to clients that are considering selling books (especially if they are important) so they can receive an additional and independent evaluation. However, one must keep in mind that auction houses have their own commercial interests in getting material for consignment and sometimes their ambitious estimates are designed to encourage consignment (they don’t have risk after all in selling consigned material). Also, on occasion, the wait to hear back from a specialist can be frustrating as naturally their departments are quite busy and focus on very valuable estates and individual works. (Incidentally, if you go the auction route, I am happy to provide tips on which auction house you should use, where, and what estimates to encourage bidding)
An alternative for independent evaluations is the Rare Book Hub (formerly Americana Exchange, but recently changed as their focus is no longer strictly just Americana). It is in fact one of the best and most comprehensive Rare Book Evaluation sites on the web. To access the increasingly comprehensive records, there is a paid subscriber database, which has (along with the American Book Prices Current database) become an indispensable tool to evaluate books. It is quite different than sites such as Abebooks and other book search engines online that provide retail values or asking prices (which are often unobtainable for most sellers of old books). Instead, the Rare Book Hub provides many actual auction records of books, old dealer catalogues, as well as a great deal of informative bibliographical and descriptive information. Anyone can subscribe and check values themselves, albeit it is still wise to consult a professional as comparing books and prices is an art and not a science as sometimes small and not readily apparent differences can greatly affect the value of a work. When you have me evaluate your books, I certainly check databases such as these and can provide the records for individual works. This transparency is very helpful when dealing with clients that do not necessarily know the value of what they have. It allows for sellers to see what the books should reasonably sell for at auction if they went that route. Dealers can even sometimes pay more than the likely auction values if a book is particularly rare. As in the art market, there is an added value for works that are fresh to market and privately sold and for which they may have specific clients.
As always, I am happy to provide free evaluations for old and rare books, and you can contact me anytime at webuyrarebooks@gmail.com. If you do not hear from me within 2 days, please write “Attn. Adam” in the subject as this prevents email from accidentally falling into spam and delaying a reply. Sending photos of the bindings and title pages are an excellent start.
WHAT IS THE VALUE OF AN INCUNABLE? – A BOOK PRINTED BEFORE 1500
AND ONE WITH A SECRET CODE!
Occasionally we are offered an “incunable“, or a book that that was printed— not handwritten —before the year 1501 in Europe. Incunabula (in plural) are not as rare in commerce as one would suppose — at least as a group — even if specific individual titles or editions can be exceptionally rare. The printing press was such a success that its development spread throughout Europe with incredible speed and entrepreneurs quickly opened establishments to turn out these technological marvels. A commonly used referred work, The Incunabula Short-Title Catalogue, records at least 28,000 15th century editions.
It is natural to think a book from the 15th century would be worth a fortune, and this is especially understandable when one holds in their hands such a remarkable object. Unfortunately, this is often not the case and like other books, incunabula tend to have auction records that help establish a clear picture of their market value.
It is beyond the scope of this short post to review all the factors that can influence the value of an incunable from the binding, the work and edition, the illumination or rubrication (painting to make it look like a manuscript), rarity, and importance etc.
By way of example, however, I can illustrate how I evaluated a recent incunable we were offered (and purchased). To start with, here are some photos of the book:
First, we can identify the book from both the “incipit” (the opening words of a text, manuscript, early printed book) and the “colophon” (often the last paragraph which gives info on the publisher, place, and date of publication). From this we quickly learn that we have here a copy of Johannes Reuchlin’s Vocabulari[us] breuiloqu[us] cu[m] arte. This is a well known, and not particularly rare work of the 15th century. However, Reuchlin‘s popular dictionary opened the door to German humanism, by providing the linguistic key to a study of the Latin classics. This edition was printed by Georg Husner on 25 August, 1495 in Strassburg, Germany.
Next we check the work’s “collation” or page count- to make sure all the pages are there. A work that is incomplete — lacking even a single page — can often really hurt its value. Checking the collation takes time and requires some familiarity with basic bibliographical references, notations, and the way an early book was printed. This copy, save for a blank leaf, is thankfully complete.
After that, we look at the binding. Books can be rebound over the centuries and original bindings do not always escape the ravages of time. We are fortunate here as well that this copy has retained the original binding, which is known as an “Augsburg binding”, with attractive rosettes and leaf ornaments stamped into the pigskin in “blind”. Those ornaments can be seen close-up in the second photo above.
A search of the auction records reveals a few recent copies that have sold, but one in particular which is comparable to our copy above, was auctioned at Christie’s New York, Apr 23, 2001, lot 106, for $8,000. Naturally, an auction is a battle of buyers and sellers — and many times only one buyer and one seller pitted against each other. Results, like the romantic glance of a first encounter with someone, cannot always be duplicated on a second occasion. Therefore, while the auction records are a good guide, they still require a certain knowledge and connoisseurship to be properly used for evaluating another example. In this case, however, and despite the copy at auction having come from the prestigious Helmut Friedlaender collection, $8000 is not an unreasonable evaluation (weighing the passage of time since that sale and looking at the condition of other copies that have sold for less).
Next we look to see if there are any distinguishing characteristics of this book — and there are! In fact, they are quite fascinating. In this copy, there is an early manuscript on the inner rear board (in an early or near contemporary to the period German hand). After some careful study this is revealed to be a sort of code or at least a medieval word-game. Specifically, it is acrostic poem with the columns spelling the first letters of the Hail Mary — “Ave Maria,gratia plena, Dominus tecum.” This can be seen in the photos below if one carefully reads the vertical column which spells out the latin letters “A … V … E … M … A .. R .. I … E …” etc. The owner of the work hundred of years ago used each letter as the start of a line of poetry.
One of the reasons that this secret AVE MARIA “acrostic” (as it is called) is so interesting is it is a formative example of early ciphers. In other words, this word play (and the Ave Maria form in particular) started as fun (and maybe out of religious reverence) in the Middle Ages and Renaissance, but then someone said “Hey — why don’t I use this type of code for writing secret messages?” Cryptography was born.
We are still left with coming up with a final value to place on the book, given this interesting and unique manuscript on the inner rear board. In my estimation, it certainly adds a couple thousand dollars to the value of an identical edition without it as it is a rare surviving example of an acrostic and an intellectually exciting find.
Pricing books is an art and not a science — and when the book is unique as in the case here — even experienced dealers can underprice books as often as they overprice them. The market quickly decides with the underpriced ones snatched off the shelves and the overpriced ones left to linger to collect dust and booksellers’ frustrations. Here, I have priced the book (given all the factors above) at $9500.
