Yeah, the previous owner has a colorful history. I guess stamp collecting really wreaks havoc with your mind...
Technically, it won't be the world's most valuable stamp until it's sold. And of course, that's purely from a monetary point of view.
I look at things a little differently. It's not that valuable if you're willing to part with it. The estate is only looking at it from a financial point of view. To me, the most valuable things are the ones I'm NOT willing to part with. Of course, I'm looking at more than just monetary value. I've got some really inexpensive stamps from my mother that I wouldn't part with even if someone offered me $1M for them.
Should be an interesting sale. It will certainly bring some excitement into our hobby. I still remember drooling as a kid when I first read up on the stamp. Whoever the buyer is, they are paying for the history and the bragging rights. The stamp looks like it got used by pre-schoolers as part of a craft project, and it's suffered considerable deterioration since it was last sold. And it's not the only unique philatelic item, but certainly one of the ugliest.
My stepmom just called me on the phone to tell me about this. There was an article in the Utica OD because one of the previous owners was from Utica, NY. She and I are trying to raise the money to buy this so all donations greatly appreciated,,,,yeah right.
They won't. Her Majesty the Queen has had her budget slashed considerably over the years. I don't think the British would put up with spending millions for a stamp that has degraded so much in the past 3 decades that the print is barely decipherable if you have never seen the stamp before.
Unless some Asian bidder comes along, I would also be surprised if the hammer price met their estimate of $10-$20 million dollars. Considering the current record price is less than $3M. Just more publicity by the auction house. At best, it might make $10M if you include the commission -- but I'd be surprised if it sold past $7M. My guess is $5M is possible. I don't understand the basis for a $10-$20M estimate by the auction house. But, we'll see...
I take it we can see it on display in NYC from June 14-16, if I understood correctly.
I collect each country, dead or alive, but focus on France, French African colonies, older German area, allegorical men, carnivorous plants, Vikings, rock art, engraved pictorials.
MikeC99
Stamp Bears Posting Dedicated Guru Stamp Bears Supporter
I can't believe someone would pay upwards of 10 million for this stamp. These collectors/investors don't live in the same world that I live in. Mike
Collecting Canada, US, UK, Ireland, Germany, France & Austria. Also collecting some classic era stamps of some British Commonwealth Island countries and topicals like WW2, Capt. Cook, Horatio Nelson.
Just to give you an idea of how much the stamp has deteriorated over the past 20+ years. Left is what it looked like before Dupont bought it; right is what it looks like now.
Some posters say the right side has been trimmed. It looks to me like he had somebody try to restore it; there would be a lot less on the right side if it was simply trimmed. Meanwhile, the printing is severely faded and much of it can no longer be read. Guess he left it out on the patio table too long.
That's what happens when you have too much money -- you buy expensive stamps and then proceed to carelessly destroy it because you have nothing else to do one afternoon. Then you pay someone to try to restore it to cover up your goofing around, but there's only so much you can do.
I'd rather have the 10 or 20 million dollars. Think of what you could do with that much money. That would buy a lot of stamps plus You could actually spend ...... it. The rest on other things.
Ten million dollars equals R130 Million South African Rand, Just about enough to cover my monthly salary.
My main collecting interest is the Fire Service (stamps, First Day Covers, postcards and slogans). I also collect Birds, Lighthouses, Civil War, Frogs, Rugby and Mills. My country collections are South Africa, Australia and Rhodesia. It never stops adding on. I would consider myself more of a topical collector.
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