Introduction to Collecting & Investing in Rare Collectible Books: The Basics and the Market!
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- Опубліковано 4 сер 2020
- In this video, we talk about the topic of collecting and investing in collectible rare books. This is an introductory video designed to assist the beginning or intermediate collector/investor; and to possibly ignite interest in those that have a passion for collecting the written word!
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More videos on collectible books!
I am so unbelievably grateful for this video, wonderful advice to a young book collector like myself! Thank you so much my man
You’re quite welcome!
Excellent primer, Shawn! I was lucky enough to work at a fine used book store throughout my 20's and the owner took me under her wing and taught me the trade quite thoroughly.
I remember spending 20x more than I did on the actual volume itself obtaining a proper dust jacket for a loose copy of "On the Road" I had. This was in the 90s when there was a Beat resurgence, I ended up doing well selling it complete.
Shawn, watched this video for either the second or third time. Great content. Would love to see similar content. Thanks again!
Great introduction. I would never advise someone to attempt to invest in books unless they love them, and love to own them. I flip antiques but collect books. I never buy a book unless I would add it to my personal collection. I HAVE made money from reselling books, but I don't typically find books that I would buy for value alone. As you said, it's a long game and viewing books as inventory when they don't interest you will lead to frustration.
Rare books are a fantastic hobby. I hunt very cheap ones and I make a bet on it for 10/20 years down the line. I am a literature major, I just have a passion for books
I wonder of paper will become more rare and books more valuable in the future
This was great! It was nice to get your definition of “rare” in this video which, although I was able to infer from your previous comments, now makes a lot more sense to me.
Thank you!
Love your content. I might be in the minority, but this is one of my favorite videos of yours! Super helpful in my case too!
Another great video , learned a lot ! Always on the lookout for rare books
when I was younger I wrote a book called "my boogers are delicious" it's the only copy that exists in the world!
might be rare and collectible one day
I’d buy that for a dollar!
Rare, yes. Established market, nah. While we are on the subject can I interest you in the one of a kind scribbles of my baby son? Very rare!
LMAO
I'm afraid you consumed your actual value when you are the boogers...
Was waiting for this video. Thanks!
Great stuff! Much appreciated! Hard to find quality information like this on UA-cam !
Another great video! Thank you, Shawn!
All I heard was it's time for me to start a book grading company
That’s the last thing we need...lol! But maybe you could call it BATA?!? 😉
Reserved Investments seems like the best way to make some money.
Would be a game changer!!
man you explain stuff so well!
Great call out and perfectly timed on Dune suggestion!
Been waiting for this one
This was a great video and explained well of introducing collectible rare books. It made me interested in rare books. Slow and steady does seem to win the race with these rare books. Personally,I always wanted a first print Bram Stoker Dracula or Ian Fleming Casino Royale.
Just came across this video. You are incredible in front of the camera. I can listen to you all day. Keep up the good work. Super interesting video.
Thank you!
At one time I collected Hardy Boys books with dust jackets, since I enjoyed them when I was a boy. There were many editions of these books.
I devoured them too. Too bad we didn't keep them safely stored in an attic, as true 1st's in jackets are worth a mint now. Same for Nancy Drew.
Very insightful video, Shawn. Interesting topic :)
Highly informative video!
Fantastic ! I’m just trying to get into rare books..
Found you a few months ago. I don't have the capital to invest, but have found your videos very interesting. Keep up the good work. I do have a small book collection, this video made me check the prices and some have gone up actually, despite the short timeframe so thanks for that.
Thank you for the feedback!
I’m really getting into this because I’ve been finding a ton of really old books lately.
great video
thank you you give valuable information
Great video. Yeah you really have to love books to collect expensive books. I also collect comics and the differences in value changes are so slow in the book market. That being said, I have been a big fan of Frank Herbert's Dune since I was a kid and a few years ago I bought a ton of these books. I learned how difficult it is to identify a true first edition Dune. It has to state First Edition, it has to have blue cloth boards (not red), and the dust jacket has to have the four lines on the back right flap. I bought an ex-library copy for $700 USD. It is rough but it is a true first edition. If I auctioned it today it would sell for at least $2000 and could go as high as $3000. I also bought 8 copies of the book club edition and many of the other books in the series. Because of the excitement over the new film, all of these books are selling for good money right now.
Even though it’s something I’m unlikely to be able to invest in, doesn’t mean it’s not informative to watch. Thanks for the video.
Thank you for the feedback!
Great video! Also, if you are looking for a video idea on this topic, I think it would be important for your audience to know how they could identify first edition books they are targeting. It can be a bit confusing for a newbie. I know I had trouble researching on my own.
Great video
Great content
Awesome content! just subscribed.
Thanks for the video. I like that you are offering an education to the young bucks that don't understand that certain principles of antiques/collectibles dealing apply to all markets and there are lessons to be learned from other industries that might help Timmy with his Pokemon cards. Question for you on this topic: I deal in the collectibles market, but my dad used to collect and sell first editions. Unfortunately, after he retired from his professorship, he became an alcoholic and, owing to a series of events brought about by his addiction, we became estranged. During that time, for reasons not entirely clear to me but not apparently rational, he decided to sell essentially all his possessions including the book collection. He knew his way around eBay but most of the rest of the internet was foreign to him. He sold his collection through PBA Galleries. I hadn't heard of them myself and, knowing my way around collectibles, I would have assumed HA would have been his best bet. He had gems such as Gatsby, Catch 22, on and on, literally he had built bookshelves in every room except the bathrooms of his 2400 Sqft home and filled the garage with many, many rare and valuable books, signed in many cases. I suspect he probably could have done much better than he did on this sale. If he has anything left, I'd like to at least fan some advice through the grapevine to him about Heritage. Do you know anything about the auction house he used and do you think it was a mistake?
Yes, PBA Galleries is a respected firm. Not as large as Heritage, but still respectable and they do offer appraisals. Without knowing specifically what and when was sold, I can't say whether it was a 'mistake' or not...but PBA is good.
@@ReservedInvestments Thanks for the info. Good to know he didn't get hosed after he put a lifetime of effort into it.
As I continue to go back through your past videos this subject has got me thinking. I’m a member of AA and The Big Book of Alcoholics is synonyms with the program. My question, if you are so inclined to answer are the earliest editions of The Big Book a coveted collectible or a solid investment.
Keep up the great content!
Great upload would love to pickup a first edition copy of james joyce ulysses and one of my ultimate collection goals the twelve Ian Fleming, James bond first editions.
Cool video
Thank you... Passion... that is the key! May I ask where the follow up video on modern books can be found? I collect modern era first editions, signed etc. I have a few older books as well. Thank you.
Good words...a difficult market. More of a hobby
Thank a lot to you Shawn! Keep doing videos about books please. By the way, how rare is the first edition of The Neverending Story (Michael Ende)?
Hope you touch on first edition/limited edition gaming/hobby artbooks in the next part. Like the limited edition zelda artbooks or the Sonic 25th anniversary artbook.
These are modern era books that utilize mass produced scarcity over direct organic collectibility, but yes, I would touch on that market. I'm a fan of Cook & Becker too! ;)
This was a really interesting video. I’ve always been interested in getting into book collecting, but given how nuanced it sounds, I’ll stick to video games.
Thank you...
You’re welcome!
Very informative. Thanks for all the caveats on buying rare books and also about the likely downside of low appreciation.
One small question. I undrrstand about the rarity and demand necessities. And would certainly adhere to both in searching for rare books. But what about autographed copies of books that are rare and in demand? I would think that would relate to both rarity of the book(s) and how rare the signature was and how the signature was applied in the book (e.g. simple signature vs. a dedication of the book to a specific individual). I think I remember seeing an autigraphed copy of The Great Gatsby being offered for sale at $750k. Much like your dust jacket example where the values were into the stratosphere. I have many autographed books. All found by accident. Wasn't looking for any of them. Just wondering if looking for dust jackets and autographs might make rare book collecting a bit more profitable than the 2% per year that you mentioned.
hi shawn,
1) i just checked out heritage auctions and found that the great gatsby in fine condition still generally sold for less than $5k. am i missing something?
2) do books go up in value after a movie is made? pretty much like comics and mcu?
3) have u released other vids on book collecting? dont think i saw others
1) No, assuming you mean typical copies without jackets, which are Good-VG only, having been shuffled in and out of boxes and on and off shelves for over a century. Without the protection of a jacket, the cloth fades, the binding weakens, pages tan, corners get bumped etc. A truly crisp bright Fine copy w/out jacket is tough.
2) Yes.
Nice! I’d love to hear your view on the overheated Stephen King market. Have been collecting King myself for decades and the popularity of his books, the amazing limiteds out there and coming out, is insane. Or is it? 🤷♂️
I was actually thinking of doing a whole video devoted to collecting and investing in Stephen King books (obviously, I’m a fan of his). Not sure how many people would be interested in it, but I find his work quite fascinating.
@@ReservedInvestments Well, the King market is huge and only growing. I would think there are many to hear your thoughts on this. I for one would be! 👍
@@ReservedInvestments And I was just thinking, if you’d do a King video, I could and would definitely share within a number of King Facebook groups and you’d get guaranteed thousands of views! Maybe a number of subscribers as well. 🤷♂️
will modern first editions like game of thrones be good for long term investment? i dont think people were hoarding the book in the first release right? im thinking of this book cos of the popularity of the show. is this a relevant consideration?
It may help for more visuals...show us some examples of rare books.
Nice video , i have 4 questions:
1. What do you think about the uncorrected proof editions of the 1st editions ? Is it worth to invest in them or better go for the 1st edition?
2. What do you think about dedicated signed books ? For example : "for Mijael" Stephen King. I personally don´t like that to much but what about the main market?
3. What do you feel about some modern writers for example Paul Auster , i see his 1st edition books are not expensive at all , do you think they will go up in value over the years?
4. People actually are interested in 1st editions that are not in english language? Or they rather have the 1st US edition over the original 1st edition that was written in another language?
Answers to your questions: Question #1: In my humble opinion, first editions are the current way to go...Question #2: I don't like personalized signed books, unless it is of an extremely rare book. It can provide provenance in that regard. Question #3: I do NOT like most modern era books, as they are being speculated on en masse. Question #4: Depends on the book. If the book was originally published in English, then 9 chances out of 10, collectors will want the English versions. Hope that helps!
Cool thank you!
@@ReservedInvestments Cool thank you!
Serious book/vinyl collectors 2c on these questions.
1) uncorrected proofs can be valuable, but its only when the author is extremely collectible or the work is esp notable. To give an example the few proof copies of works I have in the collection, are early Samuel Beckett plays. Their collectible status is down to Beckett, not that they are proofs. A first edition copy of the same play would be worth far more. I wouldn't invest in this type of thing, unless signed or you are literally paying peanuts, its a very niche slice of book collecting. On the other hand if you are a true collector of an author, then locating the various copies might be an enjoyable hobby.
Modern proofs (last 25 years) are not too hard to find, I see them fairly often, typical perfect bound paperbacks, that will fall apart with age. I got 100 on Abe for my proof copy of Let Me In (Lindqvist), which I found in a library booksale, luckily in time for the movie release. I can't see any value in that item long term.
2) some dealers argue it is better to have a dedication than flat signed as it is less likely to be forged, but seems to me, that just gives the forgers a new trick. The other argument was the signature might be more attractive written. If you ever see a pile of books signed by an author, they tend to get lazier and lazier as they signed ending up with a scribble to the point they are easy to copy.
You want old authors with neat handwriting they tended to write their name clearly. Modern handwriting is extremely lazy and rough if they use a Sharpie style pen. Hence why a photo/proof is so important nowadays.
3. just check on abebooks and ebay right now, for how many copies are listed. Problem is many dealers simply buy the book and stick it on Abe for a premium on the longterm bet, someone will pay that much. So its not really organic growth just sticking a high price until you get a sucker. It's still worth noting how many copies are listed and their price range for future reference. If the copies listed decline, could be an indication of collecting. Adaptation to screen is probably the most common method to push up interest and prices today. Early death and winning a major prize are more traditionally how it happened.
4) its the same as Q1, sure they exist people who pay big money for foreign language copies, but its a niche collector. You have to think about the end buyer. There are certain books that tend to sell well in various translations, including the Bible, Me in Kam pf (yes seriously) if you can find war time prints.
In terms of normal books, I don't think there are many people who are willing to pay much for that signed Hungarian translation of Grisham's The Firm. There are certain authors who have a wide deep collecting market (JK Rowling) but they are the exception.
1) The relevant principle is that the closer you get to the manuscript, the more scarce and valuable the item, but in practice that rule doesn't hold, mainly because uncorrected proofs are ugly and uninteresting unless significant textual changes were made in the 1st published edition -- and the author is important enough for anybody to care. Limited to anywhere from a few hundred copies down to a handful, proofs were issued for the author to proofread and approve, and for book critics to read before publication, hence the drab plain wrappers and cheap construction. Although proofs precede the 1st trade edition and are certainly scarcer, it is usually only single author completists or institutional collections who want them.
2) "Dedicated to" refers to the name(s) printed on the dedication page if there is one. "For Michael, Stephen King" isn't dedicated to Michael, it's just an "inscribed and signed" copy. The old rule was simple: the more an author adds to his or her signature, the better, making the inscribed "For Michael" copy slightly more valuable than a copy merely signed by King, and the hypothetical "For Michael, with gratitude for your friendship and inspiration, Stephen" copy many times more valuable. When the recipient is connected to the author or also famous in some way, say a fellow novelist, you have an "inscribed and signed association copy" -- another sharp jump in value. BUT . . . some collectors don't want the "For Michael" copy because their own name isn't Michael. Ok, but that certainly doesn't lower its value.
3) Who can predict the lasting relevance of authors? It's entirely possible that in one hundred years, the most "important" writers of the early 2000's will not be Stephen King or Clive Barker at all, but names we never heard of, just as the most popular writers of, say, the 1930s, are mostly unknown footnotes to us. So follow the advice in this video. Yes, Paul Auster is absolutely worth collecting if you happen to think so.
4) The true 1st edition of any book is in its original language of publication in its country of origin. But since most of us can't read the Buenos Aires 1st ed of One Hundred Years of Solitude or, say, Kafka in the original German, we collect the 1st English translation instead, which could be USA or UK. And I imagine German beatniks collect the 1st German translation of Kerouac's On The Road.
Awesome video... in your opinion should I sell my 1977 copy of If I Ran the Zoon by Dr Suess today or hold onto it? Its in very good condition and the demand just shot up yesterday. Is this as good as it will get for that year?
Sorry to say, a 1977 reprint of a 1950 book has limited value or potential value. And if it lacks the jacket, it's pretty much just a reading copy.
Great video! Thanks for all the information. I'm contemplating investing in a hardback Harry Potter Philosopher's Stone through Heritage. What are you thoughts on the investment potential of this book? I'd be looking for a return in 5-10yrs. thanks!
How do you feel about the future of Harry Potter in general? Part of your answer is there…
1st!......edition collectible book
I understand that people sell books without dust jackets, but do the dust jackets alone ever come up for sale? What would a fine condition Great Gatsby dust jacket go for, without the book?
They’re so rare, they usually never come up for sale.
Investment Brah has got his own Daisy out there somewhere 😢
I tend to have a habit of highlighting what I read. Does the value substantially fall if collectible books have been compromised due to highlighting? Started of as a hobby but recently have been looking into the investment aspect of collectible books.
Of course. Highlighting is considered damage.
Great video Shawn! Have you been following the vintage t-shirt market? There was a sale was a sale earlier in the week of a 90s Aladdin Genie shirt for $6000. It's completely mad
Yup, it’s insane...didn’t see that sale though in particular...
@@ReservedInvestments it was done via an Instagram live auction from the seller 1980somthingco . There was a PayPal screen shot to prove it was legit but I have my doubts. How can a shirt go from $200- $6 k in a year, hmmm 😂
Not to nag, but I'm still waiting on the second video about collecting modern era books!
You picked a bad time to ask this...but sometime hopefully soon! Lol.
@@ReservedInvestments Haha!. I figured, just didn't want you to forget. Thanks
I just bought a 53 reproduction of the great Gatsby for almost 200 dollars. The real one was way too expensive. Never going to sell it though.
Gatsby
I have old man of the sea!!!
Average book collector: You can’t double or triple your investment within the short term by collecting books!
Warhammer book collector: hold my limited edition signed first edition released today!
is there an easy way to find print numbers for books?
Of first editions, it depends. There are more records available for modern first edition books than for some literary classics. That said, it’s usually still hit or miss.
I have a passion for fantasy books. I know about the best you can get for antique would be 1st edition hobbit and lord of the rings. I try to get all books i read now first edition, for cheap. Probably wont ever be worth much I'm guessing, but do you think the book market over the last 30 years will have any substantial value in the future?
Over the last 30 years? Yes, some. Modern era books? Most likely not, with few exceptions due to print on demand and speculators hoarding up any first printings that may have value. Hope that helps.
@@ReservedInvestments i just dont understand speculators. Why spend money that way, basically gambling and usually losing. Unless you have a huge passion and dont care about the potential value. People that buy one to use and one to keep sealed on the shelf seems so stupid, unless its already a high value item like a rare antique book.
@@n0stalgiag4mes I would agree, but the collectibles marketplace has a symbiotic relationship with speculation. It has been that way since the beginning and manufacturers today take advantage of it (just watch my videos on organic collectibility vs. manufactured scarcity)...
What about ebay? Could you go into the common pitfalls most face when going the local bookstore route? Also, conservation and restoration. What % do those decrease value, and is it expected to be disclosed by the seller. Scams etc. thank you.
Local bookstores are more expensive, biblio book site is better, eBay is good ONLY if you truly trust a seller
Hello MrShawn, do sneaker investment and rolex watches is good investment?....
Did some videos on this...
@@ReservedInvestments in China, there have sneaker index fund which I recently discovered... They do have collection for it and they make alternative company index fund who create collection.... For Rolex watches i not sure, some Chinese think it's luxury product so they think is collection as well... I think rare books is great and looking for Shakespeare's first folio but still learning...
The thing with paper items like posters or books is arent replicas always going to be a problem? If a book is not that old and has no pictures wouldn't a not too old printing press device with appropriate paper if you can source it turn out really good quality replicas? Is the binding process hard to replicate? It does make no sense to say something is rare if you dont explain that with numbers of some sort I agree.
On the book dust jackets whats it like to just collect those are they ever really sold without a book? It does make sense the grading system for books as book collectors often want to read the book themselves so they are not as particular about condition as those that plan to seal it behind glass or plastic and never touch the item.
@Dorian Phoenix Most people are not experts in paper, printing, or ink types. A cheap printed copy is always going to be an issue to deal with in regards to paper items. Its a little more complicated to replicate a more solid object. Anything can be replicated but some things are harder to replicate than others. A replica does not have to be good to be an issue that people have to deal with especially those that are not experts.
do u think ebay is a good place to buy? im seeing some books in near fine condition that sell below HA prices, and through my untrained eyes, i cant pick out the differences. as far as i can tell, they are not bces and claim to be first eds
I would avoid eBay for any kind of serious purchase of high caliber first edition books. You will run into problems...just my advice...
As an outsider to this collecting market, I am curious on one point. Your video series routinely lists collectible books as a bedrock, mature, generational asset in line with rare coins, historical documents, art, etc. Isn't there a risk that this market becomes more like stamps... where technology and electronic communication moves away from the paper product. We have a generation coming up who reads everything on Kindles, iPads, phones, etc. Having paper copies of things may seem quaint at some point in the future. So at least to me, I don't see the same bedrock, generational, unshakable trends in books that I do in say, coins or art. Am I missing something?
No, by that logic antiques and art work would cease to exist because they can easily be reimaged by 3D displays and 3D printing. The market doesn't work that way...
U didn't mention about foxing
Never really knew rare book collecting was a thing. I always thought the expensive stuff was the required college books.
Woah, first thing that came to mind when I clicked on this video was - Jewish Superman
I'm not Jewish, but I do get told all the time that I resemble Clark Kent/Superman for some reason...lol. So fair enough...
You do realize there is a market for people who aren’t millionaires right?
The reason this channel skews towards the higher end is because it’s a collectibles finance channel. I have touched on the lower end of the market in other videos.