The classic business edict is to buy low and sell high. E. Forbes Smiley took that edict to heart in his business as an antique map dealer. Unfortunately, he discovered he could get his cost close to $0 if he stole his inventory. Michael Blanding captures the story of Mr. Smiley and the world of antique maps in The Map Thief: The Gripping Story of an Esteemed Rare-Map Dealer Who Made Millions Stealing Priceless Maps.
It turns out that valuable maps are much easier to steal than art. Works of art are generally one-of-a-kind pieces that hang in museums where everyone knows where they are. It’s hard for thieves to break and in and steal one. It’s even harder to try and sell the unique, identifiable, and now-known as stolen item.
In contrast, rare maps may be printed in thousands of copies, of which some unknown quantity may have survived over the centuries. They are rare, but not necessarily unique.
It also turns out that libraries are chock full of old map collections and atlases that are poorly cataloged, poorly tracked, and poorly monitored. Mr. Smiley discovered that he could greatly increase his profits by attacking one of these libraries. He would pocket a map from a messy collection or tear maps from their bindings in atlases.
One of Mr. Smiley’s client was Norman Leventhal, the patriarch of the firm that employees me. The walls of my offices are adorned with part of his collection.
You can see the lack of controls at the libraries. One result of Mr. Smiley’s capture was an increased emphasis on libraries tracking their map collections. Mr. Smiley was not the only thief among map dealers.
The one weakness in the book is what made Mr. Smiley turn from respectable map dealer to thief. There is some discussion of his finances and a possible need to for more cash. There is also an implication that felt left out when one of clients made a large donation to a library. Mr. Smiley thought he was entitled to more. But it seems like the thievery started before then.
In the end we just don’t know what caused him to step over the line.