DO YOU HAVE BOOKS TO SELL?
We're always interested in purchasing good books, whether individual
items or entire collections. Our interest is not strictly confined to
our specialty areas: a perusal of our inventory will demonstrate our
commitment to maintaining a deep and varied inventory of books in all
fields. If you are a collector, have inherited a collection as part
of an estate, or have simply happened onto some interesting items that
you wish to sell, we would be interested in hearing from you to discuss
the possibility of outright purchase, consignment, or brokering of a
sale to a third party.
WHAT SHOULD YOU EXPECT WHEN SELLING YOUR BOOKS?
In our experience–as both dealers and collectors–nothing in the book world
causes more fear and loathing than the dispersal of a collection. Seasoned
collectors are quite naturally concerned to extract the maximum value for
their hard-won treasures; novices, who may have no real sense of their books'
value, quite naturally fear being taken advantage of by a more knowledgeable
dealer.
The following tips may not completely allay these fears, but should give you
a starting point for understanding your various options and knowing what to
expect when you approach a dealer, auctioneer, or institution to sell your
books.
- Don't expect a dealer to pay retail. Book dealers, like all business
owners, need to make a profit on every item they buy. The very most you can expect to
receive, excepting perhaps for the rarest items within a dealer's specialty, is about
50% of the retail value, and that applies to the best books. 30% of retail is the general
rule of thumb for less rare, but still uncommon items. For general good, used books–those
which are saleable but quite plentiful on the market–you shouldn't expect more than a
fixed rate of $1 to $5 apiece. Broken books, book club editions, mass-market paperbacks,
National Geographics, modern encyclopedias (etc., etc.) are considered salvage and you
should be grateful to any dealer who will take them. Most dealers won't, but many can
recommend charity organizations that will accept donations of unsalable used books.
- Dealers will be most competitive on truly rare items in their area of specialty.
In other words: if you have, say, a collection of rare Geology books, and are concerned to
receive the best possible price for them, it probably doesn't make sense to take them to a
dealer specializing in Modern First Editions. And vice-versa.
- Condition is everything. A book has value to a dealer in direct proportion
to how readily it can be sold. Books in shabby condition, even rare ones, are never easy to
sell. Professional restoration of books is very expensive and generally reduces a book's
value in comparison to an unrestored copy. Bear these things in mind when building your
expectations for a book or collection.
- Dustjackets are very important. Most modern books (i.e., books printed
since around 1900), were issued with paper dustjackets. The presence or absence of an
original jacket can have a profound effect on the value of a book. Our favorite example
(by no means unique) is F. Scott Fitzgerald's The Great Gatsby: a fine, unjacketed first
edition of this 20th-century masterpiece can generally be bought for around $2500–a
princely sum for an unjacketed book! But a fine copy in a truly fine example of the
original dustjacket would fetch, at a minimum, twenty times that amount. A differential
of more than $45,000 may seem a trifle inflated for a mere 8"x14" piece of printed paper.
But remember: a book is worth what someone will pay for it–no more, but also no less.
- Consignment is an option. If immediate compensation is not your first
priority, you may wish to consider placing your book(s) on consignment. You will generally
receive a better price for your books this way–typically you'll retain 60% to 80% of their
retail value–but it may be months or years before you see your money from the sale of a
particular item. Also bear in mind that most dealers are willing to take on consignment
only the more valuable books in their specialty areas, and that consignment rates can
fluctuate–the more expensive the book, the less of a percentage the dealer will expect
for him or herself.
- Sending books to auction. Rare book auctions can be a good means for
dispersing a collection. Auction houses typically charge only a 20% to 30% commission for
selling your books. That may sound like a much better deal than selling directly to a
dealer who might offer on average only 30% of retail–but bear the following in mind: first,
auction houses rarely achieve anything approaching retail prices for your books (attested
to by the fact that at any given auction most of the bidders in the gallery will in fact
be book dealers). Second, a good bit of time may pass between the consignment of your
collection and its actually coming up for sale; another interval will pass–sometimes as
much as several months–between the sale and your receipt of funds. Third, many auction
houses are uninterested in handling anything but the rarest books, and will discourage
you from consigning lesser items. In our experience, auctions tend to work best for
high-profile subject collections consigned by celebrities or noted collectors; less
well for the sort of general (even if high-quality) collection a typical collector
might compile.
- Selling or donating a collection directly to an institution. Sometimes
the best option for dispersing a serious collection–especially one in a defined subject
area–is to sell or donate it, en bloc, to an appropriate institution. Rare book divisions
of university libraries wil sometimes bid very aggressively for collections or noteworthy
items in their specialties. A knowledgeable dealer can be of great help in determining
whether your collection is right for institutional placement, suggesting an appropriate
library, and brokering an agreement between you and the institution.
- Is it rare? Is it valuable? Or is it junk? Novice collectors and family
members who have inherited collections are often at a loss when it comes to determining
which of their books are truly rare, which are more common but still desirable, and which
are junk... to the untrained eye, after all, a book is, well, just a book (a visit to the
"Rare & Antiquarian" section of Ebay's book auction pages will bring this point home in
spades). In this matter you are to some degree at the mercy of the necessarily more
knowledgeable dealer–so make a point of seeking out a reputable one, and don't be afraid
to ask questions and to seek second opinions. If you want to undertake some research
yourself, visit our References Page for some ideas on where to start. We also have a page
of Links to various book collecting and book-buying sites–just keep in mind the adage that
a little knowledge can be a dangerous thing, and that most serious booksellers have been
practicing their craft full-time for many years. A few hours (or weeks) spent reading up
on the subject won't put you on a par with someone who has bought and sold tens of thousands
of books over the course of years... but it might give you your first taste of the joys,
beauties, and complexities of Rare Book World–an enchanting place which I encourage all to
enter without fear or trepidation!
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