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 a general rule, to be an infallible guide.