For the week ending Saturday June 9^th, 2012 15 auctions were archived; 4 denominated in US dollars, 1 in British pounds and 10 in euros.  Ten thousand three hundred and thirteen lots were offered and 6,876 sold for a 67% success rate.  Total turnover was $4,553,276, sixty percent of the aggregate high estimate of all lots offered.  The spring marathon continues but there is a sense of shallow breathing.

One sale reached 100% of the total of their high lot estimates:

Bruun Rasmussen.  Books and Manuscripts on June 6^th:  129%

No sales breached the one million dollar level.

Four sales sold at least 80% of their lots:

Heritage Auctions.  Rare Books Internet bidstart May 31^st and ended June 7th:  98%

Bruun Rasmussen.  Books and Manuscripts on June2 6^th:  93%

Swann Galleries.  Maps & Atlases, Natural History & Historical Prints, and Ephemera on June 7^th:  88%

Artcurial Briest-Le Fur-Poulain-F. Tajan.  Prints and Illustrated Books on June 1^st:  85%

The market is healthy but the mood somewhat somber.  Spain is preparing to step back from the brink of default with a 100 billion euro package from the EU, the Greeks are casting ballots on Tuesday in what is widely viewed as a second referendum on EU participation, and the Chinese government this past week lowered bank rates to stimulate economic activity.  Meanwhile the failure of the recall vote in Wisconsin has people wondering about the benefits of tea.  It turns out that auction sales of books, maps, manuscripts and ephemera are altogether a trailing indicator and they are walking close behind elephants that recently had a hearty meal.

For the week ahead 21 sales are scheduled:

Monday June 11^th Kiefer – Buch- und Kunstauktionen.  Books and Graphics [81].  4,868 lots

Tuesday June 12^th    Bonhams.  Books, Maps, Manuscripts and Historical Photos [20137].  164 lots

                                    Christie’s.  Masterworks of Italian Photography 1945-1975 from the Collection of Paolo Morello [4225].
  150 lots

                                    Kiefer – Buch- und Kunstauktionen.  Books and Graphics continuing [81].  4,868 lots

Wed. June 13th         Christie’s.  Books [5334].  219 lots

                                      Kiefer – Buch- und Kunstauktionen.  Books and Graphics continuing [81].  4,868 lots

                                    Rupert Toovey and Co.  Prints [1047].  9 lots

Thurs.  June 14th      Ader.  Letters and Manuscripts, Autographs, Collection of E. H. and diverses [18348].  328 items

                                    AntiquarianAuctions.com.  Books – internet bidstart 6-7 [19].

                                    Bloomsbury Auctions.  Books and Manuscripts [35931].  728 lots

                                    Gonnelli Casa d’ Aste.  Prints [483].                                         

                                    Heritage Auctions.  Rare Books – internet bidstart 6-8 [201224]

                                    Kiefer – Buch- und Kunstauktionen.  Books and Graphics continuing [81].  4,868 lots

                                    Swann Galleries.  American Art / Contemporary Art [2281].  282 items

Friday June 15^th        Gonnelli Casa d’ Aste.  Photographs [487].

                                    Sotheby’s.  Fine Books and Manuscripts [NO8864].  195 lots

                                    The Romantic Agony.  Books [48a].  593 lots

Saturday June 16^th   Clars Auction Gallery.  Art and German Literature Books [61612]

                                    The Romantic Agony.  Books [48b]

Sunday June 17th     Bonhams.  Period Art and Design [20110]

                                    Clars Auction Gallery.  Art and German Literature Books continuing [61612].

Sailing deeper into summer the sales continue unabated.  Every year, for the next ten, the volume of lots will increase.  This summer seems unusual but it simply reflects the new normal.

Bruce McKinney

AE

June 10^th, 2012