able
collection of books of the College of Advocates, Doctors' Commons,
London, Monday, April 22, 1861, and seven following days (2,456 lots);
the stocks or superfluous stocks of books of Charles Knight, Owen Jones,
G. Cox, R. Bentley, 'Standard Novels'; Bradbury and Evans's, April, 1862
(eight days); Arthur Hall, Virtue and Co., November, 1862; Darton and
Hodge, 1863, 1866, and 1867; Lionel Booth, May, 1866; Day and Son, 1865,
1867, and 1868; Sampson Low and Co., in consequence of the death of
Sampson Low, jun., 1871; Moxon and Co., October, 1871, when a four days'
sale resulted in over L12,000; Cassell and Co., in consequence of the
removal to Belle Sauvage Yard, September, 1875, five days' sale (4,400
lots); and very many others.

[Illustration: _Mr. James Christie, 'The Specious Orator.'_

Engraved by R. Dighton, 1794.]

The firm of Christie, Manson and Woods dates its establishment from
1762, but its fame is almost exclusively built upon its picture-sales.
During its existence, however, the firm has sold several more or less
important libraries, such as those of James Edwards, the bookseller,
'the library of a gentleman of distinguished taste,' April, 1804; Rev.
L. Dutens (four days), February, 1813; the Earl of Gainsborough, March,
1813; the Hon. C. F. Greville, 1809; Sir William Hamilton, C.B., and
Viscount Nelson, 1809; Sir James Pulteney (eight days), February, 1812;
the Earl of Aylesford, 1879; Earl of Clarendon, 1877; C.
Beckett-Denison, 1885; Dr. Samuel Johnson, 1785; J. P. Knight, R.A.,
1881; Earl of Liverpool, 1829; W. Macready, 1873; Rev. W. Bentinck L.
Hawkins, in three parts, 1895, and others.

II.

The step from book-auctioneers to book-prices is a very easy one to
take, but the subject is far less easily disposed of. A book is worth
just as much as its vendor can get for it, and no more. Rarity is not
synonymous with high commercial value. There may be only four copies of
a particular book in existence, but if the only three people in the
world who want it have provided themselves with a copy each, the fourth
example is not worth twopence. We have seen this kind of thing
illustrated within the past few years. Very small poets are published in
very small editions, but nobody buys them, and the books therefore have
no market value--in fact, they are superfluous. Hundreds of rare books
are superfluous. The auction-room is the great leveller of all manner of
unmerited fame, and it may be taken, as