Investment
Because of the tremendous interest in collecting leather books and fine bindings and the scarcity of these bindings found in good or better condition, they are becoming increasingly more difficult to obtain with each passing year. Add to this fact that many of the fine leather bindings that came from larger sets often have missing volumes, making their investment value near worthless. Also, many of the fine bindings of the past 100 or 200 years have not been cared for and therefore have rotted or disintegrated. Again, “supply and demand” takes over. Those fine specimens that are now left and that are complete and that are in wonderful condition, are sought after by more and more private collectors. Because of this, the value of these books continues to rise. The good news is that there are still fine leather books and fine leather bindings available for purchase at affordable prices. However, we believe the window of opportunity is closing, and closing fast. During the next decade many of these fine leather books and sets will be cost prohibitive for most collectors. I believe that the next few years will be your last opportunity to purchase these books at any affordable price. After that, they will mostly be in private collections or museums or will be too costly for most of us to afford. And if we can afford them, they will still be very difficult to find and obtain. If you like the look and the feel of fine leather bindings, rest assured that the investment value is one of the best in the antique field.
This is the time to learn more about them and to start your own collection as there are still great opportunities to get involved in collecting these “treasures” but those opportunities are now and not tomorrow. Almost any old leather binding that has been cared for and preserved, and especially sets of leather bindings that are complete, have become antique collectibles. There is, however, a criterion that we believe one must follow to insure that what you purchase is of an “investment quality From my experience most antique leather bindings which follow the guidelines that I will outline have, and will continue to increase in value.
Our experience shows that there are generally three reasons why people collect antique leather books. One reason is simply because of the content – some people actually read them! After all, these books cross the spectrum of every imaginable and interesting subject. The world is full of avid readers so why not read something that you enjoy and that also just happens to be something of value. Some very collectible subjects are religion, history, literature, poetry, medicine, etiquette, botanicals, philosophy, and the great authors, just to mention a few.
Another reason people collect these types of books is they like “the look” of antique leather books. A fine leather binding is generally a beautiful thing to look at, and it adds beauty to any home. Many collectors are now building their own private libraries full of these works of art and beauty. Finally, others collect because fine leather books are rapidly disappearing. They have seen that bindings are no longer readily available in the marketplace and have either been closeted away in personal collections and institutions, or have been damaged. Because of their scarcity, they are rapidly appreciating in value, and these collectors are making an investment in these books with the purpose of selling them at a later date or with the intent of passing something of great value on to loved ones in future generations. In other words, they are approaching the field as if they were investing in property or fine art, assessing value and anticipating a return on their investment.
The three most common reasons for collecting are:
fine bindings are (1) content, (2) investment, and (3) beauty.
Regardless of the reason that one collects leather books, We have found that there are six general guidelines that are extremely important, and I believe if you follow them they will pay great dividends for you or your descendants. When these guidelines are followed, the value of these leather books increases very rapidly. In the past several years alone, I have seen them increase in price by over one third As a dealer in fine antiquarian books, I suggest that if you are a novice and you want to collect leather books that you should follow these six simple rules to help guide your purchases.
CONDITIONS FOR INVESTMENT
- Buy English language books. Most fine bindings you collect should be written in English, unless you are an avid collector or sophisticated bibliophile or really know what you are doing with foreign language books or authors.
2. Buy older books. As a general rule most should be dated prior to the 1900s (except fine signed bindings between 1900 and 1935).
3. Buy books in the finest condition possible. The condition should be “fine,” “near fine,” or “very good” (see explanation in “definitions of conditions” ). Don’t let a bargain trick you into choosing an imperfect copy over a more expensive copy, even if you must wait for the better copy to show up.
4. Buy complete items. Many titles were issued in two or more volumes, so always be certain that the book is complete. Also, be sure to check that no illustrations or plates have been removed.
- Buy books that fall into a collectible or interesting category. Remember, you are buying books as an investment, so try to avoid subjects that do not have a wide appeal but rather will depend on activity in a limited segment of the book market in order to appreciate.
6. Buy books in fine bindings. Avoid books bound in faux leather or decorative cloth. And be sure NOT to buy Franklin or Eastern Press, they never increase in value and they are modern books not the authentic 18th and 19th century bindings that you should be purchasing for investment value. To give you a solid understanding of the six guidelines, let’s look at each of them in more detail.