Your Question
I would like to start a collection of books for
the future generations of my family and I think this book could be a
cool start. Any advice??
Answer
Yes – with the
qualification that book collecting is very personal and therefore
likely more subjective than coins or stamps, and my advice is based on
my own experience, preferences and taste. So here goes, first with
personal advice, followed by more general info/background:
1. Collect what
you like. There are books that get wildly popular and expensive,
but if you don’t like them for themselves it’s kind of cold and you
may not enjoy seeing them on your shelves. For me, Dan Brown’s Da
Vinci Code would be a case in point.
2. Decide how you
are personally going to value what you collect. If your idea is to
pass along books with the highest possible monetary value to your
family, you will probably have a very different collection than if you
want a collection that embodies your tastes and values – a kind of
literary self-portrait, if you will. And if the focus is on future
generations, you may want books to be signed and personally inscribed
to you, even though this may reduce the resale value of the books. My
answer to this dilemma is to get two books – one inscribed to me and
one with a non-personal signature and inscription. I read the one
signed to me and keep the other one as pristine as I can. This is easy
and not very expensive with new books, but it does take up more room.
3. Books are not a
reliable financial investment. Prices for collectible books
generally go up over time, in some cases drastically
20 to 30 times original retail price in 5 years – but that is the
exception rather than the rule. If you want to maximize financial
returns, buy bonds. But if you love books there’s nothing more fun
than collecting them. Also, prices do go down as well as up. This is
important to remember, particularly if you are ambivalent about a
particular title or writer but are struck by the flurry of rising
prices or hype about a book. It’s easy to get caught up in the
excitement.
4. Think about
what you like and why. It will help you be more discerning and
articulate, and I find it’s fascinating as an exercise in
self-knowledge.
5. If your
collection is to be a portrait of your life and times, think about
children’s books as well. Do you have favorites that you reread?
And/or want future generations to enjoy? Children’s books are very
collectible, especially if they embody the zeitgeist of an era. That’s
one reason I collect Harry Potter books (the American editions, missed
the boat on the UK earliest ones) – I have truly enjoyed them and
several of my nieces love them too. And rumor has it that J. K.
Rowling is working on a mystery!
6. Take a look at
the books you already have. If you buy hardcovers, chances are you
have a bunch of first editions. If you want them signed, look for
author signings and take yours along to have signed. The protocol is
that you need to buy the new book too, and you shouldn’t show up with
a shopping bag full of older books without first checking with the
bookseller in question. Often they will be fine with additional books,
but will ask that you buy more than one of the new book or some
equivalent that makes business sense for them – which is only fair as
bookselling is a very tough business. Sometimes they will say no: the
author may not be willing or the publisher may want to limit numbers
or the bookseller may have time constraints. And be ready to wait at
the end of the line.
7. I would be
happy to recommend titles, reference materials, personal favorites
and new writers I think will appreciate in value. What I do with some
of the people who ask me for recommendations is suggest paperbacks
first – if you end up wanting a signed first edition, I can sell you a
copy or help you find one.
Similarities to Stamp and Coin Collecting
1. Focus your
interest – pick a genre, author, time period – or invent your own
category. I tend to focus on first books by new writers in the
mystery/crime fiction world. I also try to get these books signed and
dated, as close to the publication date as possible. In order to
further limit the potential scope of my addiction, I also try to
collect writers who are alive and that I can meet in person. This
doesn’t always work as I adore Ross MacDonald but he died before I got
to meet him. People I know collect award winners, such as the Mystery
Writers of America (MWA -
http://mysterywriters.org is their website) Edgar Award winners.
Major categories are Best First Novel by an American Author and Best
Novel. The Edgar Awards began in 1946.
Others collect the
Haycraft-Queen cornerstone books. The initial list was published in
1942 by Howard Haycraft in his book Murder for Pleasure and
quickly became a definitive list for readers and collectors, so much
so that even today rare book dealers and collectors still refer to a
title as a Haycraft Queen Cornerstone. The list was revised and
extended subsequently by Ellery Queen up to 1952 [from Classic Crime
Fiction]. The complete list starts in 1748, with Voltaire’s Zadig
and includes Poe’s Tales of Mystery & Imagination,
Dickens’s Bleak House and Drood, Victor Hugo’s Les
Miserables, Dostoyevsky’s Crime and Punishment, Arthur
Conan Doyle (everything Sherlockian!), Bram Stoker’s Dracula
and goes on to Dorothy Sayers, Dashiell Hammett and Cornell Woolrich
– as well as many lesser-known writers. http://www.classiccrimefiction.com/haycraftqueen.htm
Still others collect
by publisher. A popular and pricey group is the Collins Crime Club,
published in the UK from 1930 up through 1994. Most collectors of CCC
books hunt for the ones from 1930 thru the 1940s.
2. Scarcity and
condition are key factors and it’s smart to get the earliest
copy/version you can in the best condition available. Later books (by
an author) can be filled in but the earliest ones will usually be the
rarest and appreciate the most over time – i.e., get more expensive
faster and remain so.
3. Storage and
insurance – store your books away from direct sunlight,
fluorescent light, and extremes of heat and humidity, and any
potential exposure to water (leaky roof, under a bathroom, anywhere
near a water heater or steam pipe). Take inventory once a year and a
picture of your bookshelves for insurance purposes. Homeowners
insurance should cover the contents of your home; check and make sure.
Books – Modern First Editions
1. First Editions
– there are more granular definitions, but for most professional
dealers this refers to the first print run of the initial publication
of the book. When a book comes out in both the US and the UK,
whichever came out first is called the true first edition. You can go
crazy with books first published in other languages, but I only know
English so I’ll stick to that here. The first print run of a first
book by an author is usually the smallest, the scarcest and most
pursued by collectors. Most publishers today have a scheme to identify
which copies are first edition/first printings as well as later
printings (if a book sells beyond all expectations, the publisher will
manufacture additional print runs soon after the initial one). Many
times an author will become famous with a second, third or later book
– which prompts a frenzy for the earlier titles.
2. Condition,
condition, condition: You want a copy that is as close to what
came off the press from the publisher as possible. Dustwrappers are
extremely important. Any additional ephemera – specialty
bookmarks, publishers’ marketing material, postcards etc. are a plus
and can be a significant factor in desirability among collectors.
Condition description categories range from Fine to Very Good to Good
to Fair (most to least desirable) and apply to both the book and
dustwrapper. Some dealers add intermediate categories, but there is
always a degree of subjectivity involved so it is wise to know who you
are dealing with and understand their terminology. Trust is important.
3. Signatures
– the fact that an author actually held the book in his/her hands and
personally signed it is of major importance to book collectors.
Anything that further makes the copy unique, such as a line from the
book, a date (close to the date of publication is better than years
after), location or sketch by the author can enhance the future value
of a particular volume. Bookplates, laid in rather than fixed to the
book, are preferable to no signature, but a direct signature to the
book itself is most highly valued.
4. Inscriptions:
While many collectors prefer that a book is not inscribed to a
particular person, exceptions include what are called association
copies. This is when an author personalizes a book to another author,
his editor, a famous friend or someone who influenced the writing of
the book. An example might be a book inscribed from Dashiell Hammett
to Lillian Hellman. Some rare book dealers also believe that more of
an author's handwriting is better, whatever the words are, and that
personal inscriptions add to the value of a book. For me, it
depends...
