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Henry B. Wheatley examines the historical fluctuations in the prices of books as an indicator of broader economic and intellectual development. The text analyzes how factors such as scarcity, mechanical innovation, and changing social values influence the market value of printed works over time.

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CHAPTER VI AUCTION SALES IN THE EIGHTEENTH CENTURY

The earliest sale recorded of Samuel Paterson was that of the library of “Orator” Henley, which took place in June 1769, and contained some curious books.

Joseph Smith, British Consul at Venice, was a cultivated book collector. He printed a catalogue of his library in 1755, Bibliotheca Smitheana, seu Catalogus Librorum D. Josephi Smithii, Angli ... Venetiis, typis Jo. Baptistæ Pasquali, MDCCLV. This is of value as containing an appendix to “the prefaces and epistles prefixed to those works in the library which were printed in the fifteenth century.” George III. bought the whole library, and added it to his own matchless collection. On the sale of his library Consul Smith set to work to collect another, and in 1773, a year after his death, this second library was sold by auction by Baker & Leigh, occupying thirteen days in the selling. The books were described as being “in the finest preservation, and consisting of the very best and scarcest editions of the Latin, Italian, and French authors, from the Invention of Printing, with manuscripts and missals upon vellum, finely illuminated.” The last day’s sale contained all the English books in black letter. This fine library realised £2245, not so large an amount as might have been expected. In fact, Dibdin says in his Bibliomania that Mr. Cuthell exclaimed in his hearing that “they were given away.”

In this same year, 1773, was sold the splendid library of James West, President of the Royal Society, the catalogue of which was digested by Samuel Paterson. The preface informs the reader that “the following catalogue exhibits a very curious and uncommon collection of printed books and travels, of British history and antiquities, and of rare old English literature, the most copious of any which has appeared for several years past; formed with great taste and a thorough knowledge of authors and characters.” There were 4633 lots, and they occupied twenty-four days in the selling, the auctioneer being Langford. West’s large collection of manuscripts was sold to the Earl of Shelburne, and is now in the British Museum.

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