Well, dear readers, what is the fascination or attraction or even the attraction and fascination with owning a first edition of a book? I’ve been collecting first editions on and off since the mid-1970s. I have amassed three major collections. My first collection I had to sell when I got deevorced. That collection had some books that I will never again see the likes of, and when I think of what I sold those books for (all to one dealer, which was the stupidest possible way to do it), it makes me nauseous. I had a beautiful first edition of To Kill a Mockingbird that today would be worth at least $20,000. But because the dealer was buying “bulk” he got all my books for an average of about ten bucks apiece. I was in a hurry to sell, which you should never be. But, after I became a full-time record producer and had some discretionary funds, I slowly but surely began to build a second collection. Part of the fun, of course, is the thrill of the hunt. That part of the hobby is pretty much gone these days because there aren’t many mom-and-pop bookstores left. The price of better modern firsts have skyrocketed in the last decade – some of the prices are actually laugh-inducing. And few of the dealers selling at those prices actually sell anything, so why they try to artificially boost the market is anyone’s guess. Yes, there are bargains still to be found, mostly on eBay, but you really have to know what you’re doing and ask lots of questions before you purchase there, because 90% of the dealers selling books are rubes who don’t know anything. That, of course, can work in your favor. If you’re a smart collector, building a collection can save your ASS occasionally. When I was involved in a pointless and useless lawsuit (you’ll be reading about all this in the new book), one of the ways I paid my legal bills was to sell my first editions. By the time of all that I’d put together a pretty spectacular collection of Stephen King firsts, as well as all the signed/limiteds and other truly rare stuff. I was able to pick up the phone, call Bett’s Books in Bangor, Maine (King territory) and have them take the lot for $25,000. I made money on every single book that I sold them.
While my collection today isn’t anything like either of the previous collections, it still has a few very impressive items and I know several dealers that would kill to have them. I suppose the allure of all this is to own the first state of important books or books that were important to you. Not everyone has this obsession or shares this mania, but you’d be shocked how many collectors there are out there. And the diversity of what people collect. All this by way of saying I attended the antiquarian book fair yesterday. This is the big one, which occurs once every two years. I know many of the dealers and I always enjoy this fair, whether I’m just looking, buying, or trading. One doesn’t have to purchase to appreciate holding a pretty book in one’s hands. One thing I’ve learned over the years is that condition is everything (unless it’s an inscribed association copy of importance – then condition takes a back seat). I used to place less importance on condition, but books in lesser condition have much lesser resale value, whereas primo condition books will always bring premium prices. And in building this third collection, that has been my focus – getting books I like in premium condition. I have fortunately been able to do a lot of trading – that’s why it’s always good to have all sorts of things, because you can always use them to get other things you like.
For example, a dealer friend has gotten very big into film scripts. While I don’t have a lot, I do have some very impressive ones and we’ve worked out a deal where he will sell five or six, so I was able to get several beautiful books from him yesterday, just based on what I told him those scripts were. I had no need for them, and would much rather have the books I got.
At these fairs, there are all sorts of dealers, so I usually am not interested in about half the booths there. But I occasionally go in and look at the really old stuff, just because it’s so interesting. Joan Ryan’s husband’s family has been dealing in high-end ancient books for decades – and they do very well. I would not want any of the books they sell, but there are collectors who specifically seek out their booth. Most of their books cost upwards of $25K, with some going over 100K.
I arrived at three and spent five hours there. First of all, the Pasadena location works beautifully for this big fair. The room was laid out perfectly. When this show was in Century City I always felt overwhelmed and like I couldn’t possibly see everything. Here it’s all in one huge room, with wide aisles and laid out so that it’s easy to go up and down one aisle at a time. I had fun conversing with various and sundried dealers. And I met a well-known record producer (mostly jazz and R&B) and we really hit it off – we’ll be lunching soon to trade war stories.
So, what were the highlights for me? Well, the best copy I’ve ever seen of The Godfather. This was a large book, very poorly made, with a black and white cover extremely prone to horrible rubbing and chipping. Copies that sell for over $1,000 are adequate only. One virtually never sees a truly collectable copy of this book. But boy was there a beauty there yesterday, and I’m happy to say that it was part of that deal I mentioned earlier and it’s now mine. The only problem it has is a teeny-tiny bit of rubbing or chipping to the very top of one corner of the spine – nothing is missing there, it’s just that the black has chipped a bit revealing some white, but it’s very minor.
There were several really pretty copies of very hard to find books, like The Treasure of the Sierra Madre, but they were so expensive it was ridiculous. One dealer had a set of the three Millennium books by Stieg Larsson, the UK set, which are the true firsts in English. Asking price? $5,000. I happen to own the set, so that was nice to see, not that the dealer made a sale. And the always funny thing is that books less than a decade old will have a higher price tag than a classic book from the late 1800s, H.G. Wells’ The Time Machine, which could be had for half the price of the Larsson books. And then there was dealer Peter Stern who has the world’s best copy of Sinclair Lewis’ Elmer Gantry, a virtually as new copy in an as new dust jacket – it’s a stunner. Now, normally an excellent copy of Gantry would go for $2,500, maybe a bit less. This copy? $15,000. He’s had the book for over two years and no one is biting and he apparently doesn’t care. I don’t think he’d sell it even at $5,000. Would I love to have that beauty in my collection? You bet. Can I live with the one I do have? You bet.
As some here may remember, I’ve been collecting Georges Simenon books – I just had an instinct about them, and since I love the Maigret stuff, I just began buying or trading to get them. Simenon is VERY affordable, and I found one store in the UK that had bought a collection of Simenon that was filled with beautiful as new books. But there was virtually only two Simenon books at the entire fair, and those weren’t of interest to me – I had one, and the other was a US book and the UK versions are all the true firsts in English. But a dealer pal told me interest is on the way up and collectors are starting to come back to Simenon, so I got my stuff at just the right time. There were several beautiful Ross MacDonald books at absolutely outrageous prices. They will never sell.
At eight, three dealers (and spouses) and I went to El Portal, the very good Mexican jernt across from the Pasadena Playhouse. Since it was only a few blocks from the Convention Center I walked. Only for some reason I had a senile moment and thought the playhouse was to the west. I walked over a mile before finally realizing it was east. I jogged over a mile and got there about ten minutes after everyone else. Frightening.
The rest of the day was uneventful. I had a nice telephonic conversation with muse Margaret and went over just a handful of things with her – we’ll go over whatever other little things we need to next week, and then the book will be done and on its way to Grant to begin the design process. I picked up no packages and an important envelope. And I had a message from the East Coast singer saying that her second show had gone very well and that all the notes I gave worked out fine for her.
Well, why don’t we all click on the Unseemly Button below because I must get some beauty sleep because she of the Evil Eye will be here bright and early.
Today, I shall probably do a two-mile jog, then do banking, then go back to the book fair for a few hours. Then I’ll come home and begin entering proofer two’s fixes – proofer two caught some very good things that proofer one missed, so that’s always good. At some point, I’ll eat something light but amusing, and hopefully I’ll pick up some packages. Then I’m sure I’ll watch a motion picture or three.
Tomorrow, I have to do judge the finals of a singing contest. I have to be at the place at 10:45 and we’ll be there until two-thirty, I think. Then I have to rush home because a real estate person is coming to appraise the house because, I’m told, they’re thinking about refinancing. Then I’ll be supping with the family Hollis. Next week will be getting singers their music, casting Outside the Box and trying to set some filming dates, making travel arrangements to fly to Washington, DC, and getting the book stuff all finished and to Grant – so, a very busy week.
Well, dear readers, I must take the day, I must do the things I do, I must, for example, do a jog, bank, go to the book fair, enter fixes, eat, and relax. Today’s topic of discussion: If you could own any first edition in the world what would it be and why? Let’s have loads of lovely postings, shall we, whilst I hit the road to dreamland where I shall dream of pretty books.