Friday, January 06, 2017

What's Your Poem Worth?



What's your poetry worth? And who's to say?

Ernest Hilbert is a good guy to ask when it comes to these questions. Not only is he a poet of distinction, he's also been running America's premiere rare book establishment for years. He talks about it in "The Muse and the Auctioneer’s Gavel: Learning About Poetry from First Editions," the latest installment in the "Essays and Comments" section I edit for Plume magazine. Here's how Hilbert's essay begins:
For a decade and a half I have worked more or less contentedly as a rare book dealer, roughly half the number of years I’ve devoted to being a poet, an equally eccentric pursuit. In that time I’ve had the pleasure of placing quite a number of extraordinary first editions of poetry into my clients’ collections. I am often asked what precisely makes a book “rare.” Why, for instance will one volume of poetry sell for $5 (a used copy of a recent title, something I would buy for myself), $50 (a first edition of Diane Wakoski’s 1966 Discrepencies and Apparitions signed by her along with a drawing in her hand), $500 (poet and translator Richmond Lattimore’s copy of the 1955 first edition of Elizabeth Bishop’s second book Poems: North & South and A Cold Spring), $5,000 (an inscribed 1926 first edition of Langston Hughes’ The Weary Blues), while another might sell for $50,000 (a 1633 first edition of John Donne’s Poems by J.D. with Elegies on the Author’s Death), and yet another for well over $500,000 (Edgar Allan Poe’s impossibly rare 1827 first book of poetry, Tamerlane, authored by “A Bostonian,” which hammered at $662,500 at a 2009 Christie’s sale, a tattered and rather stained copy at that, but one of only 12 thought to remain from a print run of 50). While no easy answer concerning this sort of marketplace value will fully suffice, there are a few measures upon which one may fairly rely.
The rest is online here. Check it out!