Sender: Rare book and manuscripts <EXLIBRIS-L@LISTSERV.INDIANA.EDU>
In a message dated 8/21/07 3:37:47 PM, edwardlevin@HOTMAIL.COM writes:
> Somehow, I'm not sensing the same degree of indignation about the
> ethics/morality of our hypothetical bookseller offering our hypothetical
> private seller only 25 cents on the dollar. As to which is better, at least
> Example A offered a transparent market transaction and the possibility of a
> price closer to fair market value.
>
Perhaps because Kevin is drawing a distinction between the auction house,
which has no investment in the item, and the bookseller who does.
Most booksellers lay out for sellers their options: auction, consignment or
outright sale. Of course, those sellers who chose outright sale must accept
that the buyer usually can offer only 1/3 to 1/2 of retail, if that. The
choices involve differing risks and benefits. It is up to the seller to decide
which suits his or her circumstances. At issue is how adequately and
completely an auction house (or a bookseller) informs the seller. Which option,
in the end, will afford the seller the greatest gain is often a question of
timing, the fortunes of the market and the other impenetrable intangibles that
affect collectibles.
Sarah Baldwin
E. Wharton & Co.
Box 970
Crozet, VA 22932
434.823.1072 (T)
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