Cumberland News feature, 7th March 2009
Invest in books to keep your money safe, says Cumbrian expert
by Karen Morley
Rare book dealer David Grayling says investors are turning to the bookshelves for security during the economic crisis.
He has seen interest in the quality titles in his catalogue increase from investors around the world as they look for a safe place to put their money – and enjoy their investment.
David, whose business is based at Verdun House in Shap, said: “I have been interested in book collecting since the 1960s and during that time I have seen the stock market and house prices go up and down – but books have always increased in value. They have to be the right books – rare or fine books with quality illustrations.
“I was a book collector myself until 30 years ago. Having lost my job, I was forced to turn one of my hobbies – book collecting – into a business.
“My first purchase of two old hunting books, about 45 years ago in a small market town in northern England, triggered my interest in scarce works on country sports and natural history which continues to this day.
“In my early collecting days, I scoured the antique and junk shops.
“They often had boxes of old books tucked in a dusty corner.
“In time I acquired considerable knowledge and a degree of instinct for the better and scarcer works.
“One memorable purchase in the late 1960s was a copy of the ‘Douai’ bible of 1582 – the first English translation of the Roman Catholic New Testament – which I sold for £100, a lot of money in those days.
“I never buy from auctions but from private houses.
“As the dollar has strengthened there are more Americans wanting to buy books. People who have spare cash now don’t want to put it into a bank or building society.
“Books will increase steadily in value over the coming years.
“We are selling quite a lot of books worth hundreds of pounds and have many customers across Europe.
“Those who are interested in country sports and natural history are buying investments that they can enjoy.
“I have members of the Spanish nobility among my regular buyers.”
But he added: “It’s not just country sports and natural history books that are great investments. If you have a first edition of Casino Royale, the first James Bond book, in good condition with its original jacket it will be worth over £10,000.”