In these totals the sales of booksellers’ stocks have not been recorded, because they do not sell so well as private libraries, owing to a rather absurd impression in the minds of buyers that the rarer books would have sold out at the shops had they been of special value; but it may be noted here that the stock of Messrs. Payne & Foss was sold in three portions in 1850 for £8645 (certainly much less than its worth) by Sotheby, who sold in 1868-70-72 Mr. Henry G. Bonn’s stock, in three parts, for £13,333, and Mr. Lilly’s in 1871 and 1873, in five parts, for £13,080. In 1873 Mr. T. H. Lacy’s stock of theatrical portraits and books were sold at Sotheby’s for £5157. Mr. F. S. Ellis’s stock was sold in November 1885 for £15,996, and Mr. Toovey’s in February 1893 for £7090. The latter’s sporting books realised £1031. It is very much the fashion now to average the amounts realised at auctions, and to point out that at such a sale the amount obtained was about £10 or more per lot. This is a useful generalisation so far as it goes, but further information is required to enable the reader to obtain a correct idea of value. The generalisation is useful in regard to a mass of sales; thus we may say broadly, that in the last century the ordinary large and good libraries averaged about £1 per lot, while in the present century they average at least £2 per lot. A small and select library will naturally average a much higher amount than a large library, in which many commonplace books must be included. These averages, however, will not help us very much to understand the relative value of libraries. For instance, at the Sunderland sale some lots sold for enormous sums, while a large number fell for a few shillings; but at the Hamilton Palace sales (William Beckford and the Duke of Hamilton) nearly every lot was of value, and although individual lots did not reach the sums realised at the Sunderland sale, the total was much larger. As an instance of what is meant, we may quote from the notice of the Ashburnham sale in the _Times_-- “The 1683 lots realised a grand total of £30,151, 10s., which works out at an average of as nearly as possible £18 per lot. Hitherto the highest average was obtained by the disposal in 1884 of the Syston Park library, where 2110 lots brought £28,000, or £13, 5s. per lot, the next highest average being that of the Seillière library, sold in 1887, 1140 lots realising £14,944, or about £13, 2s. per lot. It is scarcely fair, however, to compare the Ashburnham collection with either of these two libraries, as the Seillière was admittedly only the choice portion of the assemblage of the baron, whilst nearly every lot in the Syston Park library was of importance. Eliminating from the Ashburnham collection the hundreds of lots which realised less than £1 each, the average would be nearer £40 than £18.”