Sender: Rare book and manuscripts <EXLIBRIS-L@LISTSERV.INDIANA.EDU>
Fred Schreiber wrote:
Please bear in mind that the amounts the two Kevins mentioned were also
hypothetical -- not to be taken TOO literally.
Thanks, but somehow I knew that.
Wouldn't it be wonderful if we booksellers could buy our books by
obtaining them at 25 cents to the dollar!
I don't know Kevin Kelly, but I honestly wouldn't begrudge Kevin Mac Donnell
that.
I have no intention whatsoever of acting as defender of the auction houses.
But those who point out, correctly, that the auction houses don't generally
have a capital investment in their stock should keep in mind that the houses
have very substantial capital investments and enormous operating costs.
Do the auction houses bring some of these costs on themselves by fighting to
see who can give already-wealthy consignors the best possible consignment
terms? Absolutely. Do I have much sympathy for their ever-escalating buyer's
premium structure? Not a bit. Would I rather deal with a reputable
bookseller than an auction house? Yes, usually, kinda, it depends. However,
this discussion started with imputations of illegality and immorality. So,
do I believe that there is a great moral distinction or economic entitlement
that rides on the nature of the respective investments? Not so much.