Given that the current lot’s estimate represents more than a 900 percent appreciation over 30 years, Sotheby’s valuation could be perceived as fairly aggressive, but Kiffer says he thinks it’s conservative. “I’ve certainly seen many books increase in value by that factor over that many years,” he says. “I remember when you could buy a pretty good copy of Darwin’s The Origin of Species for $6,000 to $10,000, and now a pretty good copy is between $150,000 to $200,000.”
The book is being sold by the Jewish Theological Seminary, and Kiffer says that given its lofty price, he’s almost certain it will be sold to a private collector, possibly someone in finance.
“I think that’s where the interesting competition might occur,” he says. “It could be between established book collectors and people who are interested in approaching it for the content.”
This article was provided by Bloomberg News.