Basics of Antiquarian Collecting & Value of Antiquarian Books and Maps:

Condition of antique maps and books: 

   One of the first factors to evaluate in order to more accurately determine value is the physical condition of any given old map or book. Old books and maps (produced say prior to 1900, or even 1940) which might appear to be relatively "common" are often, in fact, quite uncommon in fine clean condition. This is increasingly true the older or more fragile the item becomes. Therefore, antique maps and books in fine, clean condition are often worth a substantial premium over an "average" used example, which is typically more commonly encountered in the market place.  Experienced collectors and dealers are well aware of this subtle but important distinction and can use it to their economic advantage when buying at auctions and from dealers. It also makes comparing prices for seemingly similar antiquarian items somewhat problematic, like comparing Mallet to Mercator, Audubon to Buffon, leather bindings to cloth, (commonly known as apples to oranges). To look up what a similar item has sold for on the internet or in auction records can frequently be quite misleading, as neither the circumstances surrounding the sale nor a detailed accurate description is available for comparison, nor are many other factors which might conceivably play a role (such as provenance, superior early color, special bindings, repairs), etc.  

     Not only this, but condition is not absolute, but rather somewhat relative. By this, I mean it is only reasonable to allow greater latitude when assessing the condition of an item from the 1500's or 1600's than say, from the late 1800's or early 1900's. A map from 1560 or 1760 can still be beautiful when it is not "perfect". Indeed, most old maps and books invariably show some gentle signs of aging which is in some ways almost desirable, as it gives each particular item a "patina" of authenticity and beauty which cannot be replicated in the production of a modern object and which is worthy of appreciation as part of the history and presence of the item. This is one of the reasons why antique furniture with it's original finish (patina) is so highly prized today. Normal light aging on paper, cloth bindings, and leather bound books is part of the antiquarian world and people who want / collect only "perfect" antique artifacts sooner or later realize the error of this narrow approach and eventually come around to a more forgiving position. Continually visiting many fine museums in America and Europe on a regular basis, I can say that many collections possess antiquarian books and maps which display noticeable gentle or strong signs of age, and many items I see are no where near as nicely preserved as most of the items on this website.  Therefore, most resonable collectors and dealers forget "perfect" condition when collecting or handling antique hand made books and maps. "Perfection" is something of a beginners mentality and displays a particular lack of enlightenment. 

   There is also no substitute for years of seeking and handling a wide variety of antiquarian books and maps. I have been a full time, often 7 day a week antiquarian book and map dealers for over 20 years. Most of the items I sell from my website are in very nice to fine antiquarian condition, the vast majority worthy of inclusion in almost any fine specialized collection in the world. This is not the same thing as being "perfect", however, as "perfect" is not, as discussed above, the yardstick to be using with artifacts made of inherently fragile materials, such as paper, cloth or leather. All experienced collectors and dealers know and understand this or eventually will. 

Using the Internet to price antique objects:   

   Here is one of the great misleading pricing tools, historically speaking only recently available to both collectors and dealers. Based on my experience it is now heavily used by both (I naturally frequently use it myself, albeit mostly with extreme skepticism and caution). To begin with, one should always remember that prices found on the internet are typically ASKING prices, not selling prices. Perhaps the less expensive and more realistically priced items one is seeking have already been bought off the internet and are now gone. This is the opposite pricing structure of antiquarian book auction records, which record what a book has actually SOLD for, (albeit in a somewhat limited, narrow environment - an auction somewhere only accessible via catalogue or physical presence, for instance).  All environments for buying and selling antiquarian objects are somewhat imperfect by their inherent nature and this contributes to making accurate pricing information so continually elusive. To "look something up on the internet" is to possess only a small part of the larger puzzle, with many important variables left to consider and assess outside the information at hand, such as "Who is selling it, where are they located, what is their unique experience or expertise (or lack there-of), the inevitable condition variations, historical signatures, bindings, point of issue variations" ?, etc.   

     Another feature unique to internet pricing is that often it seems the first person to list an item on the internet then becomes the "standard" for many subsequent less informed listers, a concept easily confirmed by the price clustering of many o.p books seen on the major search engines. But consider if the first lister is incorrect or mistaken in their assessment of the value of the item they are listing (listing either too high or even too low)? Or think about this- suppose a dealer knows a book / map is quite desirable or can be sold for a lot of money  but doesn't see any listed. What would stop them from listing the item they WANT as if they had it for sale, but at a relatively low price, in order to attract similar priced copies onto the internet, which they would then hopefully snatch up immediately. Not as far fetched as it might sound, as I have heard stories of this happening to dealers. A similar but even reverse tactic is to bid an item up at auction or list it on-line at a very high price, thus establishing a new price level, in order to then sell the other examples you have available for much more money than they might otherwise be evaluated for. 

     Also, it's important to consider that a dealer might be fishing on the internet for a large price for their item from an institution or wealthy collector, a price well in excess of what it historically has traded for off-line or could readily be bought for if one is a bit patient. I see this all the time- apparently crazy prices for books I regularly handle for 1/3 to 1/2 the internet price. Or possibly now that with the internet is turning everyone into an instant dealer, maybe the price you encounter on-line is from someone who frankly doesn't have a clue. 

     As mentioned above, another important consideration is who is selling the book? A major dealer in central London or any other international urban center with a big staff is going to have large overhead costs which force them to ask strong prices for their books and maps, perhaps much stronger than a dealer in a less expensive location would need to get. Not to say their items are overpriced, but simply that overhead and expensive premises are factored into the pricing of antiquarian goods, as for anything else. And some dealers are catering to a wealthier international clientele in their shops or, perhaps, movie stars or jet setter types and thus price their items accordingly. Decorators and antique dealers selling fine leather bound sets and framed "trophy" maps (famous icons of cartography) to wealthy clients in an urban retail setting are a good example of this type of internet pricing based upon factors such as beautiful shelf/ wall appearance and "familiarity",  rather than solid intrinsic historical value with the items. I always chuckle when a client tells me how they're going to buy the map/book in question for less in some foreign city such as London (or Prague, or Milan or Moscow or where ever) where they don't appreciate the true values of such things. My experience has taught me (and most dealers) the opposite to be true - European dealers regularly tend to overvalue many items of interest to Americans and Americans probably also overvalue many items of interest to them as well, etc. People around the world are a lot shrewder than you might think and rare books & fine antique maps have an international appeal, much like precious metals and gemstones, rare coins & stamps, diamonds & jewelry, primitive artifacts, etc.  

Auctions- relationship to value: 

   Another fascinating area of consideration are auctions, both internet and "real world". Much to my amazement, I continually find that items I auction on the internet sell for prices either far in excess of what I had hoped for (or expected), or well below what I wanted or have sold for in the past (selling for example for one opening bid, which is usually a wholesale amount I begin at in order to get some activity on the item). Not only this, but the exact same item re-offered after a spell will often perform entirely differently, with no relationship to the first offering of the same item.  This regularly happens to me on eBay - completely erratic price ranges which are difficult to understand or make sense of. I have bought incredible bargains from eBay auctions but have also overpaid and been very disappointed that major flaws weren't mentioned in descriptions, meaning I thus bought for too much $ items I don't even really want to own.  I have sold common items for silly high amounts and seen others do the same. I have then sold rare items for a pittance and also seen others do the same.  So I know first hand that to use these ending eBay prices as a pricing tool is very often completely misleading. Therefore, I feel that when ti comes to evaluating antiquarian objects, eBay is all but useless as a reliable, meaningful  pricing tool except in the most careful and limited manner- any price one might encounter for any antiquarian object is somewhat  unique and the result of a shifting set of circumstances, not readily duplicable in the future nor explainable in the present.  

     Also, whatever price you might find in annually published auction records probably won't reflect your own direct involvement in the auction, meaning the price it sold for would have been quite possibly much higher if you had been bidding for it.  But you weren't bidding, so the ending price is without your interest and direct economic input.  Maybe the high bidder would have gone much higher if you had been bidding, which I have often frustratingly found to be the case myself. I have also at times placed absentee bids for higher sums, (say $1800) and then wound up buying the item for less, say like $1200. Thus, the ending price at that moment doesn't reflect what it could have sold for if someone else were bidding against me or what it might sell for next time it's offered, in a different location in the world, with different bidders active or not active. I have also intended to or would have bid strong amounts for particular items at auctions, but I didn't know about it or missed the end of the auction, and thus the item sold for much less than it could have if I had participated.  It's difficult to always bear this in mind, so sometimes when I see low past auction prices for something I want it can almost makes me jump out of my chair with excitement. 

     So what does this mean? Well, I don't really completely exactly know... But I suspect it confirms one of the most basic concepts relating to the value of antiquarian items, which is.....

     Rather, the "value" for most antique maps and books is best described as a range, depending upon numerous factors, many outside the control of the seller or the buyer. It is a hopeless goal to only buy items if you think the price is a bargain. This is a sure-fire recipe for telling countless "I should have bought..." stories and letting a lot of very good material pass you by, as the world seems to be full of people willing to pay strongly for what they want.  Also, who knows when the next example might come along.  By the time you find it again, maybe the price will be much higher. When discussing fine antiquarian objects, what might seem expensive today will almost certainly seem a bargain in retrospect, especially after the passage of years.  

     In fact, the nicest collections and inventories are composed of a combination of monetary bargains mixed in with a good number of strong prices paid.  I subscribe to the hopefully reasonable philosophy that in order to continually buy nice antique books and maps I have to be willing at times to be a bit in front of the current historical pricing trends, at the front of ever advancing prices, not  waiting exclusively for bargains and low priced items to cross my path. Sure, from time to time I get lucky or have good fortune acquiring something for less than it's truer value. This is one of the rewards of experience and continually hunting in the marketplace. With further research or background knowledge it's also possible at times to add value to antiquarian items. But bargains are mixed in with plenty of paying strong prices, as dictated by circumstances outside anyones control. To buy only "bargains" would mean allowing loads of good material would pass you by, going to someone else with a deeper appreciation of it or who is simply willing to pay more to obtain it.  A collector or buyer would be well advised to ponder this and attempt thinking in a similar manner. Plenty of items I've bought items for what seemed like strong prices, which subsequently turned out down the road to have been among my best buys. 

Buying the Item- What amount is OK to pay?  

Ultimately, the decision to purchase an antique book, old map, atlas, etc. depends upon a variety of key factors, and here I will begin by considering but two of the more obvious ones, principally:  

1. What is this item worth to you.....which is a subjective evaluation, and based upon various personal factors, such as the state and goals of one's collection (or perhaps inventory if you are a dealer), your long or short  term objectives (whether financial or not), the breadth and depth of your knowledge, your experience encountering and evaluating similar or related antiquarian items in the recent past and foreseeable future, your current financial position relative to your desire to own the item in question, etc.  

And it should be noted here that just because you don't feel an item is worth the asking price, someone else could and often does come along with more knowledge or experience (or perhaps even less) who will feel the price is not only acceptable, but perhaps even represents a bargain. I never cease to be amazed at what it is possible to purchase in the open market place, in plain view of the entire world, for prices which many others have passed at, but which to me represent incredible value, either in the present or for long term investment. I also sometimes marvel at how desirable and rare items can sit unsold in open view for years simply because the right person hasn't recognized or wanted it when they saw it.  Many times have I passed on an item and when I later decided to go back to buy it find it had already been sold....which leads me to the understanding that.... 

My experience also tells me that waiting to buy nice antiquarian items I want for less in the future often ultimately leads to my paying more, since it could be years before I find it again in the same nice condition (and the price will have naturally increased substantially by then, the next one I encounter may not be as nice, etc.). As a general rule of thumb, most fine items made prior to around 1790 I am lucky to see more than twice a year, perhaps three or four times, but rarely more, often much less frequently. Stop and think about this. I and my assistants do this full time, year round, hours on end daily on the internet, at international and regional book fairs, contacts, shops, traveling, catalogues, etc. The opportunity to buy nice antiquarian items is very much alive right now, but 20 or 30 years hence, who knows.  Perhaps it will be like what happened to incunabula after the Second World War, or 18th / 19th century color plate books in the 1970's and 80's, or atlases in the 1990's. It's often unbelievable to look back at rare book dealer and auction catalogues from the 1930's or even the 1960's and see all kinds of fine material which today is all but out of general circulation except to the very wealthy; for instance - not one, but several Blaeu and Mercator atlases listed for open sale.  Yet there they sat, available to anyone with the knowledge, experience, foresight and cash flow to reach out for them.  Is it conceivable that future generations will look back on this era and even this very website and say something similar? Items which seems like no big deal to us today could wind up avidly sought after and quite expensive not so far in the future. Not such a far fetched idea, one seemingly proven by observing past information, past commentators, biographies of the great dealers such as Rosenbach, Everett, Goodspeed, Duveen, etc....

as time allows, I hope to continue these ruminations about collecting, being a full time antiquatrian map & rare book dealer, the open market place, auctions, the internet, etc. Stay tuned and let me know if you enjoy these thoughts. Encouragement might spur me to pursue these ideas further, lack of response leading me to conclude I might better spend my energies in other directions...

Brian DiMambro

Dover, NH - Oct. 2006

To be continued.... 

Coloring on old maps- 

     This is not to say that all maps which have been colored later are visually wonderful and worthy of buying. Some maps have been ruined by inartful application of color, rendering them displeasing or somehow bothersome to view by a trained eye. (One should be careful for instance with Munster maps- the color on them is almost never old and many of them are ruined by a bad coloring job. But with appropriate color, a Munster map can be quite a pleasing visual object, often more so than uncolored). These poorly colored maps are to be avoided, and for the most part we do not willingly buy or handle maps which the color application has somehow disturbed the integrity of the map. This is part of the service I provide, knowing when to avoid maps with bad modern color and helping you do the same. I am always happy to offer my opinion on the coloring of a map and will have no problem saying when asked if I feel it is somehow inappropriate, modern vs. old, nice quality, typical of the cartographer or era, etc. But keep in mind that color choice and visual appeal is subjective, not a universal truth which can be easily described. 

     I do not as a dealer mind modern color and do not have a problem with it. The market place seems to place a premium on old maps which have attractive color, often multiples of the same map in b & w. 

     And this is really only the beginning of a lengthier discussion which I hope to find time to pursue in greater depth here in the near future....

Oct. 2006 - Dover, NH

     In general, it seems to me, that more people want old maps with attractive color than want the same map uncolored. These sorts of maps typically sell first, sell easier, and sell for more money.  Thus, it would only seem logical that should you the buyer ever wish to sell your examples, the color ones will be, in general, easier to resell than the same maps in b & w and they will be worth more. This principle seems to hold whether the map has old color or new, the primary factor being if the hand coloring enhances the overall visual appeal of the map. 

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