$1.4M Inaugural Stamp Auction at Heritage

. February 17, 2009

The first Signature® Stamps Auction in more than 15 years at Heritage Auction Galleries, Feb. 5-7, proved a $1.4 million success, with the company’s one-of-a-kind post-auction buys continuing to push the total beyond $1.5 million. Collectors from around the nation, having waited 15 years to see the Heritage name back in rare stamps, took notice and logged on to the Internet, bid via the telephone and attended the auction in-person at Heritage’s Dallas headquarters yielding the solid results.

“It’s hard to know what to expect in economic conditions like this,” said Steve Crippe, Director of Rare Stamps at Heritage, “but collectors responded quite enthusiastically to the offerings in this auction. We saw strong prices on several important lots.”

With several different stamps vying for the marquee position in the auction, it was the Ben Franklin #1a, 1847, 5c Dark Brown, SUP 98J PSE, with original gum and previously hinged, that occupied its rightful spot at the top of the heap. The stamp is the bottom right sheet corner margin single, Position 100R, believed to be the unique mint example that unquestionably proves its plate position. The stamp shows little wear from its 160+ years, a fact of particular interest considering how delicate and porous the paper used for this issue is by nature. It finished the auction at $71,700, including Buyer’s Premium.

Several other Philatelic treasures stood out in the auction, among them: a #295a, 1901, 2c Carmine and Black, Inverted Center, F 70 PSE, (Original Gum – Previously Hinged) Fast Express with inverted center, of which approximately 155 unused copies exist, realizing $41,825; a #296a, 1901, 4c, Deep red Brown and Black, (Original Gum – Previously Hinged) Electric Automobile in Washington. This 4c Pan-American Invert is a special printing. It brought $26,290; a #C13-15, 1930, 65c – $2.60 Zeppelins, SUP 98J PSE, (Original Gum – Never Hinged), the most sought after Airmail stamps in the World – United States Graf Zeppelins, one of the top three graded sets in existence, which sold for $17,925; a #467, 1916, 5c Carmine, SUP 98 PSE, (Original Gum – Never Hinged) a magnificent large margined showpiece showing parts of all the eight adjoining stamps. It realized $11,352,50.

“We’re off to a solid start in the Rare Stamp market,” said Crippe. “We’re going to build on the success of this auction with our monthly Internet stamp auctions, plus we’re on the constant lookout for consignments of rare stamps for our next Signature® auction, to be held in August.”

Auction info www.ha.com

Category: Auction News

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