Hunting for Rare Books

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Article Title: Hunting for Rare Books
Author: Hector Cantu
Category: Collecting, Books
Word Count: 955
Keywords: Rare books, auction, valuable, collecting, collector, collectible, Harry Potter
Author's Email Address: hectorc@HA.com
Article Source: http://www.contentcrooner.com
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When it comes to rare books, James Gannon has some simple advice:

"Handle your books carefully, with clean hands," says the director of rare books at Dallas-based Heritage Auctions. "Do not over-open a book, do not keep collectible books in direct sunlight, and do not use a book as a coaster for your coffee cup!"

Yes, Gannon says, he has seen coffee stains on rare books. Maybe that's why serious collectors often hire skilled bookbinders to custom-make conservation cases for their rare books. "It's a smart move," Gannon says.

Here's more from Gannon on collecting rare and valuable books.

Q: What's your best advice for beginning rare-book collectors?
A: Collect what you love. Your passion for a subject or genre will help you educate yourself about the foundation books for that area, and about what to look for in collectible copies of books. Find a few specialist dealers in the area you want to collect and begin a relationship with them. Ask questions about books they are offering, or ask their advice about books you find elsewhere. It is good also to find like-minded collectors to interact with, and follow rare-book blogs or listserves. It is also important to get and read bookseller or auction catalogs, especially those covering books in your field of interest.

Q: What's the one thing you have to look for when buying rare books?
A: You want to find books in the original bindings if possible and in the best condition that you can afford. Each collecting category might have its own standards. For instance, fine press collectors typically want books in pristine condition, and with modern literature a dust jacket in very good or fine condition will represent maybe 80 percent to 90 percent of the value of the book.

Q: Is there anything you are specifically looking for right now?
A: The type of books that excite me are books that are the most important in the history of printing, which might include Isaac Newton's Principia Mathematica, generally considered the most important book in the history of science, or Charles Darwin's On the Origin of Species. In economics it might be Adam Smith's Wealth of Nations. In medicine, Andreas Vesalius' De humani corporis fabrica from 1543, or works by the Greek physician Galen or Sir William Osler. We are really looking for foundation books in all fields, but classics of literature are a very popular collecting area. We have been especially strong with science fiction and genre literature fields such as fantasy, horror and mystery and detective fiction.

Q: Are there any time periods you are looking for?
A: There are so many great early printed books that essentially encompass all the great thoughts, ideas, movements, discoveries and theories. Virtually every important thing known to man has its early representation in a printed book, even if it occurred prior to printing, such as the editio princeps of Homer or Plato, as well as famous works by Copernicus, Galileo and Albert Einstein, among others. I like seeing significant books from the first 50 years of printing, i.e. before 1500.

Q: What about recent literature?
A: I'm always looking for first or special editions of classics such as Walt Whitman's Leaves of Grass, Ernest Hemingway's The Sun Also Rises or Jane Austen's Pride and Prejudice. And let's not forget works by the Bronte sisters, William Faulkner and F. Scott Fitzgerald. Cormac McCarthy is especially hot now.

Q: Anything buyers should be especially wary of when buying?
A: Inscribed copies of modern literature can be problematic, and it is always best to buy copies where there is a known history or provenance of the book. For example, it is always nice to have a picture of the author signing the book to the original recipient and owner. If that is not possible, try to get authentication from a specialist in the field. They know how to identify fake signatures, and often can even identify the forger.

Q: What are your thoughts on collecting rare books as investments?
A: I do my best not to give specific investment advice with regard to how rare books will perform in the future. Of course some collectors think along these lines, and no one wants to buy a collectible that they think might lose value down the road. So my best advice is to look at the recent price history of a specific title, edition, author or category. Empirical evidence shows that rare books have retained or appreciated in value very well. There have been price adjustments depending on trends in technology, or in taste (some authors who used to be popular are no longer in vogue and their prices have fallen, such as John Galsworthy or Walter de la Mere). Generally, the best performers in the future will be those in demand. For instance, literature collectors might ask themselves: "Which of the currently available books will people still be reading for fun 50 years from now or 100 years from now?" Homer has stood the test of time, as has Shakespeare and many others, but what about Joyce, Tolkien, Rand, Salinger, Capote, Morrison, Pynchon, Kerouac and others? Each collector will have to answer this question for themselves.

Q: Most people have houses full of books published over the past decade or two. Is there an example of a recent book that's climbed in value?
A: Harry Potter and the Philosopher's Stone, the true first edition of the first Harry Potter book, is by far the best example of a recently published book attaining a very rapid rise in value in the marketplace. The publisher made very few of them. Supposedly only about 500 hardcover copies were printed. Almost all were purchased by British libraries. So collectible copies in fine condition and without library markings are rare, with prices ranging from $20,000 to $40,000.

Hector Cantu is editorial director at Heritage Magazine (www.HeritageMagazine.com), where this story originally appeared. For a free subscription, visit www.HeritageMagazine.com.
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