Abstract
“Is the current increase in investment in rare books wholly a good thing? Personally I have reservations. They arise from stories I heard at my father’s Knee about the crash in the 1930s: books at that time had been driven up in price far beyond the levels that were truly supported by their siginificance and their rarity”. These were in 1994 some of the reflections of A. Rother, past president of the International League of Antiquarian Booksellers. The crash that he refers to began in New York after the spectacular fireworks of the Jerome Kern sales in January 1929 and deepened after the stock market crash of October 1929. Values fell so heavily that in 1933 it was customary to pay for Kern copies no more than 10 to 15 percent of what they had fetched at these sales.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2010 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Roehner, B.M. (2010). Overall view of speculative markets. In: Hidden Collective Factors in Speculative Trading. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-03048-2_2
Download citation
DOI: https://doi.org/10.1007/978-3-642-03048-2_2
Published:
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-03047-5
Online ISBN: 978-3-642-03048-2
eBook Packages: Business and EconomicsEconomics and Finance (R0)