Autograph Value Guide Part II: Rarity & Condition in Signed Historical Documents

Signed Historical Documents | John Hancock

Lot 116 (detail): John Hancock's "John Hancock," offered in the Fine Books Auction on Sunday, November 13, 2011 in Boston, Estimate $2,000-3,000

Read Part I: Three Tips for Collecting Signed Documents to find out about how history and personal connections play a role in value.

There are two remaining factors in collecting signed documents, and they really apply to any type of paper collectible: rarity and condition.

Collectors must remember that paper is fragile and so often does not survive. The very term for paper collectibles, “ephemera”, literally means something that is fleeting and does not last. That’s why when a rare signed document comes to market in great condition, the sky is the limit for serious collectors and records are continually broken.

Keep these last two important tips in mind when considering signed documents at auction:

1. The Rarer the Better

As with all antiques of merit, rarity is highly desirable. In fact, the signature of a relatively unimportant historical figure can be extremely valuable if that signature is deemed very rare.

Take the case of Button Gwinnett, a little known signer of the Declaration of Independence. Gwinnett’s signature is one of the rarest in American manuscript collecting, due to the fact that he was killed in a duel less than ten months after the Declaration was signed. Because he died young, he didn’t have a lot of time to sign other documents, important or otherwise.

This brief brush with fame makes a Gwinnett signature extremely rare. Valued at upwards of $200,000, it is considered the Holy Grail among collectors of the Signers of the Declaration of Independence. Its worth far exceeds signatures by iconic founders Washington, Adams, Jefferson, and Franklin. Because of its value and obscurity, Gwinnett’s signature is also one of the most commonly faked. Make sure you’re buying from a reputable source that will stand behind a document’s authenticity.

2. Paramount to Paper is Condition

It can be very difficult, and in some cases impossible, to restore paper. That’s why condition is paramount to signed documents.

Anything that alters the chemistry of the paper or obscures the ability to read the document and identify the signature compromises worth. Sometimes the best intentions to stabilize or save a document have resulted in bad fixes that cause condition issues. Documents that have been “laid down” (glued to a board or other surface) or “silked” (covered with and affixed to a piece of sheer silk) lose a significant amount of value because acid in the glue or board can deteriorate the paper and compromise its future survival.

Additionally, if a signature is clipped from the original document, making it devoid of date or context, that also affects value. Other condition issues that threaten a document’s integrity include tears, stains, foxing (brown spots due to humidity changes) and folding of items since the paper can become brittle and unreadable where it has been folded.

Documents prefer to be away from sunlight, in clean, flat, and dry conditions. Avoid changes in humidity, which can cause the foxing mentioned above. Always check condition, and inquire about the manner in which a document has been stored when making a determination to buy.

These tips can help even the most novice collector buy historic documents with confidence and conviction. Explore who and what from history interests you—and, as always, buy what sparks your personal taste or interest.

Autograph Value Guide Part I: Three Tips for Collecting Historical and Famous Signatures

Signed documents, such as letters, manuscripts, memos, and other important papers, are one of the fastest growing collecting areas at auction. The personal nature of signed documents connect us to the world’s most important figures, and the stories that they reveal make history come alive in a way that no textbook ever could. If you wish to collect a little history of your own, follow these tried and true tips.

1. Autograph vs. autographed, and other slightly confusing terms of the trade

Lot 140: George Washington (1732-1799), Manuscript signed letter, Est. $15,000-25,000

In the world of manuscript collecting, there are terms of the trade that are slightly different than their common usage. Most people refer to a famous person’s signature as an autograph. However, in the manuscript world, the term “autograph” means that a document has been hand-written by a notable person. If it has been signed, it is simply described as “signed.”

Another slightly different usage of a term in the regular world versus the manuscript world involves the word “manuscript.” Normally, this term generally refers to a document, such as a draft of a novel. However, in the manuscript collecting world, this means a document that was hand-written by someone, possibly an unknown hand. So, here’s where the rubber meets the road: when something is referred to as “autograph letter signed” (often shortened to ALS), it means it was hand-written AND signed by the same figure. If it is called a “manuscript letter signed,” (often shortened to MLS), it means a famous person signed it, but they did NOT write it themselves.

If you’re looking at an autograph document signed, it will usually be priced higher than an autograph document, or a manuscript document signed. An example of a George Washington MLS to be sold in the November 13, 2011 Fine Books & Manuscripts auction is pictured here.

Here’s another thing to note: you will find autograph documents that are unsigned as well. If you’re buying those, be sure the authenticity is sound.

2. Timing is everything

As with many things in life, timing can be an important factor with signed documents. The date a document was signed can greatly affect its value and desirability. Value is at its greatest when a document was signed at the height of a person’s career or notoriety. This is especially evident with presidential letters. A letter signed by a sitting president is always more valuable than one penned earlier in the politician’s life.

For example, a document signed by assassinated president James Garfield at the time he held the nation’s highest office is worth about $6,000. That same document penned when he was merely a Congressman from Ohio is worth $400-600. Learning about a signer’s personal history can help you assess the best period pieces to pursue.

3. A good read trumps all

An interesting read is better than a mundane one – that’s why content is key with signed documents. Letters that reference important historical events are fascinating and provide real insight into the happenings of the day.

Controversy, scandal, and open displays of emotion in print remind us that these icons of the past were real people, with all their human frailties intact. These elements increase a documents value significantly.

It is best when the content of a document is in the wheelhouse of the person writing it – i.e. Washington writing on the Revolutionary war; Edgar Allen Poe expressing his frustration with his writing career.

Additionally, any important figure, corresponding with or referencing another important figure can increase worth. This is known as a “collateral reference,” also sometimes referred to as an “association piece” – i.e. a letter from Abraham Lincoln to Ulysses S. Grant; a letter written by impressionist painter Edouard Manet referencing contemporary writer Marcel Proust.

Buy historical signatures that you find interesting – that’s the personal connection that makes collecting signed documents so much fun.

Read more advice on this collecting field in Part II: Rarity & Condition in Signed Historical Documents.

Top 5 Fine Art & Antiques Blog Posts of the Summer

It’s hard to believe that summer is already over. In the midst of vacations and appraisal house calls, Skinner antiques & fine art experts found the time to write intriguing and informative blog posts. These are the top 5 most popular articles from June, July, and August. Read them for the first time or enjoy a re-read, then join the conversation by leaving a comment.

#5 Pointed Caps and Silver Hat Bands: Intriguing Finds in an Important Penobscot Indian Collection

by Douglas Deihl, Director of American Indian & Ethnographic Art at Skinner, Inc.

The rare peaked cap you see here was once worn by the Penobscot woman Mary Molasses. The cap is part of Dr. Frank T. Siebert’s extensive collection of Penobscot Indian material, which has been exhibited in museums and will be offered at auction on September 24th.

#4 How to Decorate with Art Deco Glass

by Jane Prentiss, Director of 20th Century Design at Skinner, Inc.

This summer, Jane Prentiss began a series of blog posts about the mid-century modern period, great design, and decorating with antiques. Which of the four Art Deco vases pictured in this post do you love most, and where would you place it in your home?

See the Vases

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#3 Why People Want More Fashion & Jewelry at Museums

by Gloria Lieberman, Vice President and Fine Jewelry expert at Skinner, Inc.

It seems as if fashion and jewelry are among the new trends for museums. The Alexander McQueen exhibit drew huge crowds in New York, and the Museum of Fine Arts in Boston became one of the first museums to devote an entire gallery and curator to Jewelry. Gloria Lieberman writes, “It can inspire your own wardrobe and fashion choices, and that’s one reason these exhibits are so popular.”

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#2 Antique Weathervanes, Part I: Horses, Roosters, and Cars… Oh My!

by Stephen Fletcher, Vice President and Director of American Furniture & Decorative Arts at Skinner, Inc.

A veritable menagerie of weathervanes was available at the August 14th American antiques auction. Horses, roosters, cows, fish, stags, and more caught the attention of folk art collectors. Stephen Fletcher writes, “Collectors are most attracted to antique weathervanes that still have their original surface, and these are the most valuable weathervanes.”

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#1 Selling Antique Books, Part I: How to Tell a Rare Book From an Old Book

by Stuart Whitehurst, Director of Books & Manuscripts at Skinner, Inc.

Do you have a ton of old books? Old books aren’t necessarily rare books. These three tips will help you start to sort out those that are potentially valuable. When you’ve finished this post, read Part II for eight more tips on what factors influence a book’s value.

Read Part I

Selling Antique Books, Part II: Eight Ways to Determine Your Books’ Value

Do you have a shelf full of old books? Are you wondering about your books’ value? First, read Part I: How to Tell a Rare Book From an Old Book. Next, go through this list with each book that seems promising.

1. Dust jackets, dust jackets and more dust jackets!

To be auctioned on November 13, 2011: Fitzgerald. F. Scott (1896-1940), Tender is the Night, New York: Charles Scribner's Sons, 1934, first edition with dust jacket, Est. $6,000-8,000

If there is one single thing that is a make or break for book value, it would be the dust jacket. The value of a first edition copy of F. Scott Fitzgerald’s Tender is the Night with dust jacket is around $6,000. Without a dust jacket….$300. This huge difference in value is largely due to the fact that more than 90% of dust jackets are destroyed, either deliberately or due to their ephemeral and fragile nature. If you have one on a good book, treasure it. Also, be sure to protect it with a plastic sleeve.

2. Who wrote that?

A book is more likely to appeal to collectors, and therefore be worth more, if you have actually heard of the book or its author. Additionally, some books by famous authors are better than others. A first edition of John Steinbeck’s Grapes of Wrath in good condition is worth around $2,500. However, his Travels with Charley, first edition with dust jacket, is worth around $100.

3. Where was it published?

The location of publication is an often overlooked but important detail in a list of information about a collection of books. Many titles were published virtually simultaneously in two places, for example, London and New York. Whichever hits the shops first is the “true” first edition while the other becomes the “first American edition” or “first English edition.” The value of a “true” first is typically always greater. George Orwell’s Nineteen Eighty-four was published in 1949 in both London and New York. The London edition is the “true” first and worth around $1,400. The New York edition is the “first American edition” and worth $250. In this instance, location is very important.

4. To err is Human. And it will make your book more valuable!

When certain books are evaluated, the number of “mistakes” that occur in the printing process will elevate their value. Thrifty printers will not throw out a batch of sheets simply because there was a mistake on the page. They will correct it and move on. Those first sheets now form an “issue point” that collectors use to determine how early in the printing process the sheet was printed. Mark Twain’s The Adventures of Huckleberry Finn has over seven documented (and corrected) mistakes during the printing process. If you have all of them (or many of them) in your copy, it can be worth over $10,000. Other copies with a few mistakes are usually worth between $500-1,000. These “issue points” can be found in online references to bibliographical information gathered on each book.

5. Leave no page behind!

Completeness in a book is critical. Even simple pages that have no printing on them, called blanks, are critical to the value of the book. Make certain that there are no loose pages or gatherings of leaves that have come out or are in danger of falling out. One lost page can be devastating to a rare book’s value.

6. Please return to…

Look for ownership inscriptions on books. With luck, they will not be on the title-page, as this diminishes value; they should ideally be located on blank pages before the title page. An owner inscription or signature from a member of your own family is always interesting to find, and if he or she was a well-known person, could add to value.

7. With best wishes…

F. Scott Fitzgerald signature | Books value

Archibald MacLeish's copy of F. Scott Fitzgerald's Tender is the Night, New York: Charles Scribner's Sons, 1934, Auctioned for $23,500

Always look for author signed books. An author signature can mean an increase in value of ten times or more the ordinary value of the book in most cases. For example, as stated above, an unsigned copy of F. Scott Fitzgerald’s Tender is the Night without a dust jacket might bring around $300. With a simple signature, it could bring $8,000. Skinner sold a copy that was signed and presented to the famous poet Archibald MacLeish. This unique copy brought $23,500 at our November 2004 Books auction!

8. Sometimes you can judge a book by its cover

Decorative visual appeal can increase a book’s value. A beautifully leather bound book or one with a pictorial gold leaf cover can form the basis for a really eye-catching shelf; these antique books are usually quite collectible. Simple beauty in a cover or binding can be worth $40-1,000 depending upon the complexity and execution of the design.

With this list of guidelines in hand, a shelf of antique books won’t seem quite so daunting. Did you find something intriguing on your shelves? You can send an image and description using Skinner’s free online auction evaluation form to receive an estimate of what the book might be worth at auction.

Auction Punk!

Beats the odds and get the deal!

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