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some type of presentation folder. The sales price of these
newspapers varies depending on the condition, content, and date
of the newspaper. The evidence presented by the parties reflects
that the average price for an old newspaper in the retail market
is between $25 and $40, although issues reporting significant
events generally sell for much higher amounts.6 Additionally, an
individual newspaper may retail for a higher amount depending on
the presentation of the newspaper.7 Daily and Sunday comic
sections are also sold in the retail market to individual
consumers interested in specific characters or strips.
The other market for old newspapers is the wholesale
market.8 Generally, purchasers in the wholesale market consist
of newspaper collectors and newspaper dealers interested in
purchasing a collection of newspapers. Collectors generally
purchase a newspaper collection for their own personal use, while
dealers will purchase a collection in order to sell individual
issues in the retail market. In order for dealers to sell
6For example, a newspaper dated May 23, 1934, might retail
for $95 due to its reporting the death of Bonnie and Clyde,
whereas a newspaper from May 26, 1935, might retail for $40 due
to its reporting of Babe Ruth hitting his 714th home run.
7For example, a newspaper presented in a clear vinyl
portfolio would generally retail for much less than the same
newspaper presented in a gold-leaf frame.
8For purposes of this case, we use the term “wholesale” to
refer to a market where collections of newspapers are sold to
individuals.
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Last modified: May 25, 2011