Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Retail Might Be Struggling, But the Rich Are Buying Rare Books

Bloomberg via MSN: “Even as independent bookstores struggle to survive, rare books and manuscripts have proven a rare bright spot in the industry. “It’s almost like two businesses,” says Kenneth Gloss, the owner of Brattle Book Shop in Boston. “As far as the general used-book business, it’s been off.” His third floor of rare and antiquarian books, though, is doing nearly as well as it ever has. “People are at home, the stock market is doing well, so people with spare funds are sitting home, bored and buying a lot of books,” Gloss says. The same phenomenon has occurred in categories as disparate as jewelry and classic cars. Rich people are still rich, and they’re still spending serious amounts of money on things that bring them joy—and perhaps, a return on investment later. The market for extremely rare books has been healthy for years, dealers say, but quantifying its ups and downs is difficult, because “if you’re talking about a book with many comparables over time, you’ve missed the top of the market,” says Darren Sutherland, a specialist in Bonham’s rare books department in New York.”

Sorry, comments are closed for this post.