Sender: Rare book and manuscripts <EXLIBRIS-L@LISTSERV.INDIANA.EDU>
Hans Kraus bought the Houghton Gutenberg for $1.5 million in the mid-1960s.
He finally sold it 10 or 15 years later for $2 million.
B. Quaritch on his death had an inventory of several million pounds but I
believe he died bankrupt. The habit started with Gutenberg and continued
through Aldus and the other great publishers: book rich, cash poor.
Gabriel Austin
-----Original Message-----
From: Rare book and manuscripts [mailto:EXLIBRIS-L@LISTSERV.INDIANA.EDU] On
Behalf Of Kevin Kelly
Sent: Tuesday, August 21, 2007 12:29 PM
To: EXLIBRIS-L@LISTSERV.INDIANA.EDU
Subject: Re: [EXLIBRIS-L] NY Auction Bidding Legislation
A. Kevin buys book at auction for $500 and sells for $2000. Consignor gets
$340.
B. Kevin buys book from seller for $500 and sells for $2000. Consignor gets
$500.
Which is better?
I think your comment about bookseller markups is off base. Booksellers
writes checks for inventory, some of which they hold for 5, 10, or 50 years.
Go to any book auction and you'll see several dealers there to bid, how does
bidding at a sale "profoundly reduce the monies that the consignor will
receive from the sale."?
I'd bet 400% markup is the (rare) exception not the rule if you have
inventory of the caliber of Kevin's.
-A different Kevin.
P. S. I think the govt. might do better to focus on things like mortgages
and stock markets and let those who spend on luxury items worry about
themselves, they'll do a better job of it anyway if they go to more than one
auction.
Kevin F. Kelly
J. N. Bartfield Fine Books
30 West 57th St.
New York, NY 10019
http://www.bartfield.com/bks/welcome.htm
212 245 8890
Fax 212 541 4860
--
On 8/21/07 1:51 PM, "Everett Wilkie" <ewilkie@IX.NETCOM.COM> wrote:
>>
>> The problem (immorality) is that mere "disclosure" of a "buyer's premium"
>> does not fully disclose to the consignor how this second fee will
directly
>> and sometimes profoundly reduce the monies that the consignor will
receive
>> from the sale.
>
> I assume that by this same reasoning when Kevin buys a book from a private
> party for, say, $500, he immediately tells that person that he intends to
> sell it for $2,000. Bookseller markups, some of which are huge, also
> "profoundly reduce the monies that the consignor will receive from the
> sale." At least in the auction world, the selling price is obvious and
> known to all, no matter how it was arrived at.
>
> I don't know of any auction house that could stay in business without
making
> a profit, anymore than a bookseller could. If buyer's premiums are not
> charged, that money is going to come out of the consignor's pocket. So,
the
> $1,000 auction sale, instead of producing, say, $800 for the consignor
> because the buyer is paying part of the freight, would suddenly be reduced
> to something like $500. Don't strike me as much of a bargain for anybody
> except the buyer.
>
> PO Box 11
> Bluffton, TX 78607
> 325-379-1810
> "Open except when closed"
> --Store sign