From first editions to association copies. The complete guide to rare and antiquarian book collecting.
Why people collect books
Every serious book collector has a first book. Not the first book they loved. The first book they knew they owned in a different way. A first edition with the original dust jacket, found in a provincial bookshop for less than it was worth.
How the market works
Specialist dealers, auction houses, and book fairs. The ABAA and ABA maintain directories of vetted dealers. Swann Auction Galleries is the leading specialist house in America.
What makes a book valuable
First edition first printing, condition and dust jacket, signatures and inscriptions, rarity, association copies. The variables that drive value in rare books and how to identify them.
How to spot a fake
Collation, inscription examination, and buying from ABAA and ABA members are the primary protections. Later printings misrepresented as first editions are more common than outright forgeries.
The key players
Swann Auction Galleries, Peter Harrington, Maggs Bros, Bernard Quaritch, Heritage Auctions. The auction houses and dealers that define the rare book market.
Where to start your collection
Collect what you read. Start with one author or one subject and learn it properly. Entry-level collecting for twentieth-century first editions can begin at a few hundred dollars.
How to buy right
Learn the edition points for any author you collect seriously. Examine condition with appropriate scepticism. Buy from ABAA or ABA members where possible.
Where the community lives
Fine Books Magazine, Rare Book Review, AbeBooks blog, the ABAA website, and the book fair circuit. California, New York, London, and Boston are the major annual fairs.
Storage, care and insurance
Store vertically, not on their backs. Acid-free boxes for significant individual books. Away from exterior walls and direct light. Never repair significant books yourself.
The investment question
The rare book market has produced significant returns for informed collectors in specific categories. Books are a thin market with lower liquidity than most categories. Collect what you love.