When any of these billionaires enters the market for rare books, it is little wonder that there is no ceiling. Not long ago a dealer put $500,000 on a copy of Prufrock inscribed by Eliot to the great French poet Paul Valéry. It had been in the Rechler sale, and here it was again, already notched up. Whether the dealer sold it I don't know. If he did-or if he didn't-it is a copy that is sure to come into the auction rooms again. Those 946 billionaires have to have something to buy.
The entry of billionaires into the rare book market significantly influences prices, often removing any limit on how high they can go. A recent example is a copy of T.S. Eliot's "Prufrock" that was listed for $500,000, previously owned by the poet Paul Valéry. This transaction highlights the extreme valuations that rare books can reach, especially in a market where wealthy collectors are eager to find unique acquisitions.
Even if the book wasn't sold, it is likely to resurface at auctions due to its extraordinary value. With a growing number of billionaires seeking rare items, there will always be a demand for these sought-after literary treasures, ensuring that the market remains vibrant and competitive.
