Book value

“ For the author, a good book is of more pecuniary value than a poor one, setting aside the question of fame; to the publisher, the right of publishing a good book is solid capital,—an established house, in the long run, makes more money on "Standards" than on "Catchpennies"; and to the public the possession of the best literature is the breath of life, as that of the bad and mediocre is moral and intellectual decadence. ”

“ The result of every investigation into the causes which regulate the value of books has shown conclusively that no publication is of great worth merely because it is scarce. The scarcity is a secondary and not a primary cause. Highly appreciated English publications of the sixteenth and two following centuries may be counted by thousands; but the number of inferior treatises, which have long ago sunk into eternal oblivion, which never were of any value, and never will be, are as the sand on the sea-shore. ”

“ The excellence of a book and its value as a book depend upon two factors, which are usually, though not always, united in varied proportions: first, that it should put something of value to the reader, whether of value as a discovery and an enlargement of wisdom or of value as a new emphasis laid upon old and sound morals ”

“ Worm-holes, stains, fox-marks, and other flaws also detract from value; but as many of these may be removed by a judicious application of proper remedies, a special chapter will be reserved for their consideration. The market value of a book is thus composed of many elements, the chief of which is "condition"—above all things, a broad margin, and next, to that, leaves of spotless white.
I have already stated that where editions of the works of famous modern authors containing plates were originally issued in parts, such parts should, on no account, be bound up in volume form. ”

“ That which gives importance to a book is a fact external to the author and his work. Without the intelligence of society, without its development, and a certain community of ideas, passions, and interests between it and the authors, the works of the latter would be worth nothing. The exchangeable value of a book is due even more to the social condition than to the talent displayed in it. ”

“ The bibliophile must judge for himself as best he may, what books indicate by their nature and celebrity a permanent value and what books command excessive prices for the moment simply because of inflated interest and demand. Conditions governing market value change in large, general movements, often affecting whole classes of books. As an example, one may note the comparatively high prices paid a century or more ago for early editions of the Greek and Latin classics, while treasures of early English literature sold for a few shillings ”

“ In general, the celebrity of an author will be found a considerable factor in determining the value of a book; but while rarity without celebrity will effect much, celebrity without rarity, or some other adventitious circumstance devoid of relation to the intellectual value of the book, will effect very little.
Many other circumstances besides scarcity will contribute to render a book highly prized, and consequently dear. Some of these are obvious at once, such as fine paper, fine print, fine binding, or the autograph of a celebrated man. ”

“ It may probably be considered that almost any book which can manage to exist for five hundred years will find itself augmented in value at the end of this period, but some classes will have proved much better investments than others. ”

“ A few books, well chosen and carefully read, will be of infinitely more value to you than any miscellaneous collection, however large. It is possible for “the man of one book” to be better equipped in knowledge and literary attainments than he whose shelves are loaded with all the fashionable literature of the day. If your means will not permit you the luxury of a library, buy one book, or a few books, chosen with special reference to the line of 39reading which you have determined upon. ”

“ The labour in question no doubt determines the price at which the printed paper can be sold at a profit, or without loss; but the number of copies which the public will be willing to buy, or, in other words, the value of the edition commercially, depends on qualities resident in the mind of the author, which render the book attractive to but few readers, or to many. ”

“ You may pick up an example or two of early printing for a few shillings on your rambles, but every day the chance of a bargain in this direction is smaller. There is not a bookseller throughout the kingdom who is not aware of the minimum value of any volume printed in the fifteenth century, and a private purchase and treasure trove are the only sources available to the 'incunabulist' to-day. As regards works of reference on this subject, such books have already been dealt with in the chapter on the Books of the Collector. ”

“ The safest course—Consideration of the relative value and interest of books in libraries—The intrinsic and extrinsic aspects—Consolation for the less wealthy buyer—The best books among the cheapest—A few examples—Abundance of printed matter in book-form—Schedule of Books which are Books—Remarks on English translations of foreign literature.
When we inspect a great library, filling three or four apartments lined with cases, the first impression is that the possession of such an assemblage of literary monuments is a privilege reserved for the very wealthy ”

“ Some day the fashion will change, and books hitherto neglected will suddenly take their place and increase many times in value. Such books should be bought while they are cheap, and they doubtless would be if there was such a thing as a literary barometer capable of forecasting the state of the market ”

“ In the acquisition of modern books, far greater caution is requisite than in that of the older literature, since the output is so enormous, and the changes in taste and depreciation in value so rapid and so capricious. ”

“ Book amateurs of expensive tastes are by no means rare, especially in England, France, and America, and the great commercial value placed upon uncut and rarely beautiful books, on which the highest arts of the printer and book-binder have been lavished, evinces the fact. ”

“ Nevertheless, the exceeding rarity of the specimens that have come down to us from those times is an important element of their value; while in our own day the letters of eminent persons fill many book-shelves in every decent library, and their quantity increases out of all proportion to their quality. ”

“ To arrive at a proper estimate of a book's value from the purely financial point of view, a close study of booksellers' catalogues and auction-sale prices through many years is necessary. The divergence in price of identical works is somewhat disturbing at first to the novice, and it is only after some considerable experience and the actual handling of books that one is enabled to arrive at a proper estimate of their worth. ”

“ In spite of very serious omissions, both among the editions and the translations, of some gross blunders, and of a lack of critical insight, the book remains a standard work of reference, especially with those who study the subsequent depreciation in the market value of editions of the classics. ”

“ It appears, therefore, that, although great books unquestionably demand more intellectual power for their production than great works of art, their very superiority tends to cheapen them in comparison by encouraging their dissemination. There could not be a stronger instance of the power of scarcity in determining price; and, in fact, the rarity of a book is the most important element in its commercial worth. ”

“ No paper dealing with the prices of books would be complete without the remark that condition is everything. Any rare book is immensely more valuable if in very fine condition. Imagine for a moment a book worth, say, six hundred dollars in good condition,—for example, the “Vicar of Wakefield,”—and then imagine—if you can—a copy of this same book in boards uncut. Would twenty-five hundred dollars be too high a price for such a copy? I think not.
Another point to be remembered is that the price of a book depends, not only on its scarcity, but also on the universality of the demand for it. ”

“ A book, like a person, has its fortunes with one; is lucky or unlucky in the precise moment of its falling in our way, and often by some happy accident counts with us for something more than its independent value. ”

“ There is a class of books of which the production has in this country always been uphill work;—large solid books, more fitted for authors and students than for those termed the reading public at large—books which may hence, in some measure, be termed the raw materials of literature, rather than literature itself. They are eminently valuable; but, since it is to the intellectual manufacturer who is to produce an article of saleable literature that they are valuable, rather than to the general consumer, they do not secure an extensive sale. ”

“ All three of the books are sold at the same retail price,—two dollars. And on all three I was allowed but seven and a half per cent. That is, while all goes smoothly, a thinness of one hundred and fifty-one pages is of no account. It neither makes the price of a book less to the buyer, nor the pay of a book greater to the author. But when ripples begin to rise, a thinness of ninety-eight pages makes the buyer's price less by fifty cents, and the author's pay greater by one-fourth. Thinness, thou art a jewel! ”

“ Yet, while there are many books of great merit slowly disappearing from the world because of neglect, it is also true that the books most in demand and commanding the highest prices in first or early editions are, in the main, books of great intrinsic merit, well known and, for one reason or another, justly famous. ”

“ But, even supposing the price to be considerably raised, it would certainly be better to pay two dollars for a handsome volume, which is worth keeping, and worth reading again, than to pay only one dollar for a book, which in five years will be worth no more than the same amount of brown paper. And, finally, there is the consideration of a native literature, which will, we presume, be placed by all reasonable and intelligent persons above that of cheap books. ”

“ When all these details have been decided upon there is yet another important factor in book-producing—the item of expense. Books being no longer the property of the few, they must be within the reach of the many, and the book-manufacturer's business is to make them so. It is precisely because we have such a large reading public that America has attained her high intellectual average. ”

“ Next to scarcity and great beauty, nothing, perhaps, imparts such stability to the worth of a book as to be addressed to a small but well-defined circle of readers. Books on chess and angling are familiar instances. They are not too numerous to dismay a collector, and every one differs from the rest in some feature sufficient to make it indispensable to a collector ambitious of completeness. ”

“ In the preface to this last catalogue he says: “The prices of useful and learned books are in all cases moderate; the prices of palæographical and bibliographical curiosities are no doubt in most cases high, that indeed being a natural result of the great rivalry between English, French, and American collectors.... A fine copy of any edition of a book is, and ought to be, more than twice as costly as any other.” ”

“ For if it is wisdom only that makes the price of books, which is an infinite treasure to mankind, and if the value of books is unspeakable, as the premises show, how shall the bargain be shown to be dear where an infinite good is being bought? ”

“ Somebody makes estimates of the actual cost of books published, and submits them to him, and did so with yours, and so a fair price was fixed; that you have made more out of the books than the publishers, and that they could not and cannot afford to pay more than what has been allowed; and upon my suggestion that more had been allowed on ‘The Rights of Men,’ he said that was a thin book, and took but little paper, and so cost less. He says others will pay you much more for a single work in order to get you, but thinks the style, etc., would not be satisfactory, etc. ”

“ Among the numerous works of fiction whose titles, at least, have become familiar as household words, a selection has been made under the title of The ROYAL LIBRARY of Choice Books, comprising those works which the general reader may be supposed most desirous of possessing. Such works are here presented to the public in a handsomely-bound and well-printed Series, each volume being Complete in itself, and containing a work of sterling interest and value, at the low price of 2s. ”

“ We have, too, the volumes of every kind and quality with which a crowd of publishers congests the book market: novels, poems, books of travel, science, political economy, religion, sport. Who could enumerate all the kinds of books which are published nowadays? ”

“ Why did you wish me to be having seven or eight per cent. when other people16 are getting ten? If it was because I was not worth more, you need not be afraid to say so. I can bear a great deal of rugged truth. But why am I not worth more, when there is not a paper of any standing in the country, to put it rather strongly, that has not applied to me to become a contributor, offering me my own terms? Does not that show that I have at least a commercial value? Writing books seems a more dignified thing than writing newspapers, but in point of money there is no comparison to be made. ”