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Thirty years ago Arthur Boutiette began searching for leather-bound volumes and encountered an overwhelmingly negative response to this request from booksellers who valued the content rather than the binding of a book.
Despite their combative rhetoric and lack of support for his interest in the physical beauty of leather-bound books, it was a good time for antique aficionados like Boutiette to build their collections, for antique fine bindings were plentiful and affordably priced.
In these past thirty years Arthur has watched the world of antique leather bindings come into its own, possibly because of the increased building of larger homes with libraries or because of the never-ending stream of decorating shows that encourage a more "expensive" look. Regardless, in the years between then and now, fine leather-bound books have, like many other collectibles, become very popular.
As popularity grew, supply and demand set in, Arthur explains. That prompted more booksellers to buy and sell decorative sets, and, as Arthur puts it, "a field all its own emerged."
For those who bought affordable volumes in the past, the investment is paying off. These books have taken their place alongside signed books, manuscripts, etc., as desirable objects. Boutiette should know, as a long-term collector and bookseller, he has seen books like these double in price every three to five years, a substantial return for any investment.
Besides explaining the ideals of shrewd investors who have realized the early potential and return on investments for buying certain types of bindings, Arthur cites several reasons why people are drawn to buying antique leather bindings. While some people enjoying reading them and want their favorite works bound attractively and displayed, others are interested in the disappearing commodity that the current supply and demand has created. Antique books like any other organic materials fall prey to age, rot and suffer natural losses over time. Therefore, what is available and preserved today will only become more rare and valuable over time. Also, many people are simply drawn to the handsome appearance and how richly these leather bindings ornament their homes.
As artifacts, an antique leather book in fine condition is a gem. They can truly be works of art. If you then add to this aesthetic value the investment factor and personal reading preferences, it's no wonder this field of collecting has exploded.
Whatever the reason is that draws one to collecting leather bindings, Arthur Boutiette has six warnings for buyers new to this market that want to use their collections as an investment:
ONE: Unless you know what you are doing or are an avid collector, buy 19th century books written in English.
You may be tempted to purchase a beautiful book or set because the price is affordable. But if it's in a foreign language, the resale market is more limited. You may opt for paying only $20 to $40 a volume (sometimes less if the bookseller has had them sitting forever), but your investment will never reach the limit of a set priced between $60 to $80 a volume because it was written English. That doesn't mean older books written in Latin or other languages will not be good investments, but this is a genre that is best left to more knowledgeable collectors.
TWO: Unless the book is a signed fine binding published between 1900 and 1935, collect only books produced prior to the twentieth century.
19th Century books truly fit the antique label. This is a century where craftsmanship merged nicely with good writing and this makes the value timeless. Some newer books, from 1900 to 1935 were produced of quality leather, but one has to be cautious about value. During this latter period, some publishers would farm out the binding to binderies that "signed" their work. This produced the company name inside or outside the covers. These are the newer bindings worth collecting. Arthur recommends Sangorskie & Sutcliff, Riviere, Zaehnsdorf, Tout, Root and Bayntum, just to mention a few.
THREE: Make sure the condition of the book or set is fine or as close to fine as you can possibly get.
This is a rule similar to the one in real estate where location, location, location counts. No matter what the collectible, damaged items will never see the same return on investment that an item in beautiful condition will achieve.
FOUR: Make sure the book is complete! This is the most important criterion.
If you are buying a set, avoid ones with volumes missing. What good is a set of four if you only have three of the books? The chances of marrying the set (replacing the lost volume with an identical one) are near impossible. Be certain before buying by checking the title page to see how many volumes the set contained. If the title page fails to say how many books should be in a set, then check for the last volume. You should see the text end with "finis" or an appendix. If your last book does not have the telltale markings, be suspicious. For very large sets by prolific authors like Dickens, Cooper, Scott and Twain, the multitude of volumes may be incomplete but contain complete "mini sets" of particular works. For example, you may purchase a set of 12 volumes by Dickens. Three volumes may be the Pickwick Papers. Three volumes may be "Bleak House." Three may contain "David Copperfield" and the last three are "Great Expectations." This is hardly the complete work of Dickens, but complete portions of a larger whole. If you want the complete set but are unsure of what works should be included, do a little research to find out. If you do buy an incomplete set you will have to look at it as "furniture" rather than an investment, but that does not mean the books are worthless. The set could be "complete in itself." This is where a reputable bookseller can help you determine the worth.
An example of some authors that are getting very hard to get in complete sets are Dickens, Trollope, Cooper, Twain, Arthur Conan Doyle, Hardy, James, Jefferson, Paine, Thoreau, Verne, Dickinson and Hawthorne to mention just a few. These sets have seen rapid price increases when complete.
FIVE: Make sure the subject of the book is interesting or of a collectible nature.
Books that have a collectible nature fall into the categories of history, poetry, novels, medicine, botanicals, etiquette, science, literature, cooking, gardening, fore-edge painting, hand colored illustrations, etc. The books best to avoid include general encyclopedias, state law books, bound leather magazines, lectures, periodicals, annuals, and incomplete books.
SIX: Make sure the book is leather.
Though Arthur says this belabors the obvious, a collector should be aware that leather comes in various sizes, qualities, and types. We will do a more in-depth look at the types of bindings in our next issue but for now, we will make the point that the book does not have to be bound entirely in leather. The spine should always be leather. A book that also has all the corners bound in leather is called a "three quarter leather binding" by Americans. "One half leather binding" is the English term. When the cover tips are not leather but the spine is, this is referred to as a "one-quarter leather binding." Each of these examples qualifies as leather binding in the collectible market. But remember, it has to be leather not faux leather.
Arthur's experience has taught him that if you follow those rules you can most times see your investment increased by a third within two years and double within five.
In our upcoming issues we will discuss the various types of leather bindings and how to care for them. Meanwhile, if you want to see some fine examples of leather bindings you can visit:
http://www.leatherbindings.com
http://scholar.library.miami.edu/bound
http://www.portsmouthbookshop.copm/Book_Pages/templates&categorypages/Book_Category_P20bindings.htm
http://www.portsmouthbookshop.com/Book_Pages/templates&categorypages/Book_Category_Pages/fine%20bindings.htm
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