Sender: Rare book and manuscripts <EXLIBRIS-L@LISTSERV.INDIANA.EDU>
Now we have the inside knowledge of what Kraus paid the notorious
book-breaker Houghton for his B42, let us suppose (by no means a secure
supposition) your figure of $1.5m is correct. We do know that that HPK gave
Houghton a check/-que for the book, presumably for the whole amount, and
that nine years later he sold it for $1.74m. My memory of the 1970s is a
little hazy (I was after all there), but I do recall it being a time of
rampant inflation and historically high interest rates, at that period
(1970-78) in the order of 8-10%. I leave it to you to work out whether Kraus
could have made more money by leaving his $1.5m in the bank or by his long
drawn out vanity-selling of the B42. Or what *was* the point you were
originally trying to make?
I beg to remain, yrs etc.
mcd
----- Original Message -----
From: "Gabriel Austin" <gabrielaustin@EARTHLINK.NET>
To: <EXLIBRIS-L@LISTSERV.INDIANA.EDU>
Sent: Thursday, August 23, 2007 5:16 PM
Subject: Re: [EXLIBRIS-L] NY Auction Bidding Legislation
It is now known to many people how much HPK paid for the B42 because
Arthur
Houghton told me. The copy had been on offer for several years through
John
Fleming. HPK approached Arthur and asked how much he wanted for it. Arthur
told him. HPK showed up the next day with a check.
What exactly is your problem, mcd? Is it a rather tough worm in your
little
inside?