A Brave New World for Book Auctions?

"Yet it remains an uncomfortable truth that book auction prices have declined "irreversibly" 33% since 2007. The bubble burst in December of 2008, and those who bought in the years 2006-2008 will feel a degree of pain if they wish to sell; prices are not bouncing back.

But the market is righting itself. The far sighted will get back into the market now. And dealers who have yet to lower posted prices while they continue to sell at deep discounts will pay as confidence shifts to those who have the good sense to accept reality and post real-world prices.

I suspect that we'll start to see more more auction sales conducted in this manner in 2010. This was Bloomsbury's most successful sale ever, exceeding its prior record by 50%. That fact alone will open eyes, wide."

Interesting story about how Bloomsbury Auction House is adapting in these turbulent times. Buyers and sellers take note.