A Real Page-Turner: The Thrill of Book Collecting
By Daniele Gair -
In this day and age of 24-hour electronic connectivity and reading everything from the newspaper to “War and Peace” on a smart phone, one might get the idea that books are going the way of the telegraph. But there are still some of us who appreciate the value of having a good book in the hand, whether it’s a fresh paperback for relaxing summer reading or the aged beauty of a pristine first edition.
Pooh Corner 1 - A 1928 signed, limited American edition of ''A House a Pooh Corner'' by A. A. Milne. Photo, courtesy of Swann Auction Galleries.
Ever since Johannes Gutenberg first set the type on his famous press, books have been collected and treasured. In fact, having a well-stocked library has been not only the mark of a learned individual, but a wealthy one as well. Besides the value to be found in their content, published works have maintained their status as one of the most enduring and rewarding fields for collecting. Thanks to the evolution of printing methods, from hand-set type and sewn bindings to laser printing, and to the waxing and waning of authors’ popularity, collecting books can be a thrilling investment.
As someone who can’t resist a good bookstore, I must confess that even I find the idea of collecting books a bit daunting. Where on earth should one start? One might even ask, what’s so special about collecting books? Indeed, anyone with a shelf full of paperbacks is technically an enthusiast, at the very least. True collectors search for books based on their subject, condition, and edition, as well as collecting books published by a certain press or in a particular format. And they know that the oldest book isn’t always the most valuable. The first step on the path to smart collecting is to determine what you are interested in. Two of the most popular areas are children’s books and modern first editions.
Milne’s signature and that of Ernest H. Shepard, who created the iconic illustrations. Photo, courtesy of Swann Auction Galleries.
Children’s books are among the most fashionable collectible categories with young and not-so-young bibliophiles alike. Nostalgic memories of bedtime stories often fuel a collector’s search for books long lost from childhood. One can search for early editions of fairies tales or perhaps a favorite illustrator, like Mary Blair or Tomie DePaola. Favorite series like the Oz books by L. Frank Baum or Dr. Seuss books are very rare and appealing to collectors, as are authors like Madeline L’Engle, C.S. Lewis or perennial favorite J. R. R. Tolkien. For example, an unrestored first edition of Tolkien’s “The Hobbit” or “There and Back Again” was listed for $75,000 by Bauman Rare Books. First edition Caldecott Medal and Caldecott Honor winners also attract a great deal of attention and high prices. For instance, 1964 Caldecott Medal winner “Where The Wild Things Are” by Maurice Sendak , depending on condition has been valued at up to $10,200.
A first edition book is defined by the “Antique Trader Book Collector’s Price Guide” as “…the first time a written work appears in a separate cover.” One of the best initial ways to identify a first edition is to look at the copyright page, which will feature the year of publication and a string of numbers from 1 to 10. The lowest number in the string is the edition. Also, make sure that the date on the title page matches the copyright date. Another method of identifying a first edition is by checking the verso, or left-hand copyright page. If it says “First Edition,” or a variation thereof, or lists no other editions, chances are it’s a debut version.
A 1902 first English edition of Sir Arthur Conan Doyle’s ''The Hound of the Baskervilles.'' Photo, courtesy of Swann Auction Galleries.
First editions are important because only a very small amount was usually printed, and they are considered the most accurate version of the author’s intended text. Also, many publishing houses only printed a few books on their first run, based on such considerations as cost and expected sales. Books by some authors such as Mark Twain were sold by subscription or by placing an order, and the house would only print the number of books ordered.
The start date for modern first editions is circa 1900, with a few exceptions such as novels by Mark Twain, Charles Dickens, or Robert Louis Stevenson. To know which authors are truly in or out, check auction prices, preferably from reputable houses such as Waverly Auctions or Swann Auction Galleries.
The value of a first edition can change on a whim depending on a number of variables. These variables are called “points,” and these include facts that are specific to the book, like the condition of the dust jacket or where a book was first published, as many books make their début overseas before reaching American shores. One point of value is whether a copy has been signed by the author. A 1920 edition of F. Scoot Fitzgerald’s first book, “This Side of Paradise,” which was inscribed by him one day after its publication, is featured by Bauman Rare Books to the tune of $63,000. This can be a tricky point, as unscrupulous sellers abound, so always buy from reputable dealers.
An inscribed first trade edition of ''A Farewell to Arms'' by Ernest Hemingway, published in 1929. Photo, courtesy of Swann Auction Galleries.
One of the best aspects of book collecting is that one can find treasures anywhere. Book fairs and library sales often prove to be very fertile hunting ground for those rare gems. These sales usually offer a wide variety of books of higher quality than those found in stores or yard sales, and they also offer the opportunity to meet other collectors, store owners and other experts and enthusiasts in the field.
Also, don’t be afraid to access technology in your search. The Internet can be a handy resource in locating rare titles, especially if you know what you are looking for. Sites like eBay can be a great source, if one is careful to inquire about the exact condition of your potential purchase, and there are several high-end auctioneers like Bonham’s that regularly host sales on single books as well as lots, generally from estate sales. For those who are looking for the rarest of the rare, be sure to check auction houses like Sotheby’s and Christie’s. In fact, in October 2009, Sotheby’s offered an extremely rare Elizabethan book of morning prayers, dated circa 1590, at an estimated price of $50,000-$100,000.
Wherever your biblio-fancy stakes you, always remember to do your research. There are many wonderful guides available with up-to-date information about prices, points, and market changes, so take advantage of this wealth of information.
Part mild-mannered professor, part swashbuckling adventurer, the character of Indiana Jones always struck me as a book collector. Not that one’s search for a rare book would ever involve poison darts or bullwhips, but collecting involves a great deal of intellectual curiosity mixed with a love of the chase. Whether you seek American western tales or zoology textbooks, book collecting can be the adventure of a lifetime.
Organizations:
Antiquarian Booksellers’ Association of America (ABAA)
Resources:
“Collecting Books” by Matthew Budman
“Book Finds” by Ian C. Ellis
“Antique Trader Book Collector’s Price Guide, 3rd Edition” by Richard Russell
“Official Guide to Collecting Books, 6th Edition” by Marie Tedford and Pat Goudey
“Ask the Experts Guide to Collectibles”
