Only block to feature the rare US ‘Type 1b stamp’ sells for $50,000
Sold for comfortably above its pre-sale estimate was this US one cent blue block of four, with a fifth stamp attached.

Dated to 1851, this is certainly no ordinary block; it happens to be the only recorded use of a block of 1851 one cent stamps from the top row of the first-ever plate.

Consequently, it is also the only block to include the rare and coveted imperforate Type 1b stamp. It can be seen in the block’s upper left, and is one of the best examples of its kind. Read the Full Story >>

Medal from the greatest single moment in American sports’ auctions in Dallas

Not one but two celebrated icons of sport will star in Heritage Auctions’ final Signature Sports Collectibles auction of 2010, November 4-5.

The first major highlight is Lou Gehrig’s 1927 Yankees jersey. Gehrig – aka “the great Iron Horse” – wore his jersey during the most famous season in New York Yankees history in 1927. His historic jersey is estimated at $600,000 or more.

Appearing alongside it is the only gold medal from the 1980 Lake Placid, NY, US Olympic hockey team ever to be offered at public auction. Read the Full Story >>

UPDATE: November 5, 2010: The 1980 U.S. Hockey “Miracle on Ice” Olympic Gold Medal Presented to Mark Wells sold for a final price of $310,700 (including buyer’s premium) and the 1927 Lou Gehrig Game Worn New York Yankees Jersey went for $717,000.00 (including buyer’s premium.)

The press release from Heritage Auctions:

“(Dallas, Texas) — The first 1980 “Miracle on Ice” Olympic hockey gold medal ever offered in a public auction sold for $310,700 Friday night, November 5, 2010. The winning bid from a sports collector was three times higher than the pre-sale estimate, according to the auctioneer, Heritage Auctions (www.HA.com) in Dallas, Texas.

“This gold medal was awarded to Mark Wells, then 21 years old and a center for the U.S. hockey team. He privately sold it earlier this year to an anonymous collector who consigned it to our sports memorabilia auction,” said Chris Ivy, Director of Heritage Sports Collectibles.

“The winning bidder is a Western United States rancher who enjoys many categories of collectibles, but this was his first purchase from our sports department. He is very excited to own this iconic piece of American sporting history,” said Greg Rohan, President of Heritage Auctions.

“He was one of 16 collectors bidding for the medal online or by telephone who took it from its opening bid of $25,000 to the winning level of $310,700.”

The price includes a 19.5 percent buyer’s premium paid by all winning bidders in the sports memorabilia auction that included the prized medal.

“We originally estimated it would easily sell for $100,000 because this was the first time any of the Olympic gold medals awarded to the 20 players of the 1980 ‘Miracle on Ice’ U.S. hockey team that defeated the Soviet Union was ever offered in a public auction,” said Ivy.

With only five seconds left in the final period of the 1980 Olympics hockey game at Lake Placid, sportscaster Al Michaels enthusiastically said the now famous phrase, “Do you believe in miracles…YES!”

The medal, crafted by Tiffany, is accompanied by a letter from Wells in which he wrote: “I hope you cherish this medal as much as I have. I personally cannot think of another piece of memorabilia that has had such a profound effect on the sports world than this precious keepsake.”

For additional information, contact Heritage Auctions at (214) 528-3500, or visit online at www.ha.com.

1856-O double eagle coin brings $345,000, after 100 years hidden in Ohio
Graded “extremely fine”, this newly-surfaced specimen starred in Heritage’s Long Beach sale

A recently-discovered specimen of the 1856-O double eagle – graded XF45+*, NGC – was the big star of Heritage’s September US Coin Auction in Long Beach, California.

The 1856-O soared to $345,000 amidst spirited bidding according to the auction house. Overall, Heritage’s sale realised an impressive $13.4 million sales total. Read the Full Story >>

(OCEANSIDE, N.Y.) – The original marriage certificate issued to pop legend Michael Jackson and Lisa Marie Presley, the daughter of rock ‘n’ roll icon Elvis Presley, on May 26, 1994 in the Dominican Republic, when the couple embarked on their brief but highly publicized life together, sold for $70,800 at a multi-estate sale held Jan. 22-24 by Philip Weiss Auctions.

The weekend extravaganza, at which around 1,300 lots changed hands from a variety of categories in a sale that grossed more than $700,000, was held in Philip Weiss Auctions’ gallery facility, located at #1 Neil Court in Oceanside. As expected, the Jackson-Presley document was the top lot of the sale (not counting a single-owner lifetime stamp collection that made $77,000).

“This was a great way to start the new year,” Philip Weiss said of the auction, the first of 2010 for the firm. “The story with this one was pretty much the same as last year’s sales. Great merchandise sparked spirited bidding, which resulted in strong prices. It’s all about the items. If you’re fortunate to attract quality, fresh-to-the-market consignments, you’ll do well every time.”

About 200 people packed the showroom over the course of the three days. In addition, there were over 1,000 registered Internet bidders, who participated online via Proxibid.com and the Philip Weiss Auctions website (www.prwauctions.com). The marriage certificate, in fact, sold to a bidder on Proxibid.com. Phone and absentee bidding was also very active all three days.

The Jackson-Presley certificate is one of the most important celebrity documents of the 20th century, right up there with Charles and Diana’s and Monroe and DiMaggio’s wedding certificates. The 8 ½ inch by 10 ¾ inch sheet was signed by both stars and was also signed by State Official Hugo F. Perez. It had been laminated to protect it from the Dominican humidity.

Following are additional highlights from the auction. All prices quoted include a 13 percent buyer’s premium.

Philatelists (stamp collectors) were serious and came armed with cash, making the Sunday session (the last day of the sale) a memorable one. In addition to the single-owner collection that brought $77,000, a full, post office-fresh sheet of 80 stamps from the People’s Republic of China (Scott #1586), sailed past its high estimate of $55,000 to gavel for $67,250.

A page from the 1964 Beatles USA, Ltd. tour program, beautifully signed by all four Beatles and personally inscribed to the late pianist Liberace, soared to $15,800. In their light-hearted way, the Beatles signed the 12 inch by 12 inch page “to Liber-Archie” as a play on words. The photo on the page depicts the band wearing their winter coats, standing atop a wall.

The 1967 Belmont Stakes trophy, won by the late jockey and horse racing legend Willie Shoemaker when he rode Damascus into the winner’s circle, breezed to $15,350. The trophy, comprising 59 ounces of sterling silver, has three horses on a base holding up the body and is topped by a lid with a bridled horse as a handle. It is nicely embellished with leaves and acorns.

An official American League baseball, signed in blue ink on the sweet spot by Hall of Famer Tris Speaker, brought $7,910; a rare 1913 W.B. Jarvis Sporting Goods Store advertising sign featuring Hall of Famer Ty Cobb, with a New York Times article explaining Cobb’s connection to the firm, realized $7,350; and a find of E97 Briggs baseball cards made $14,000.

A pair of original works by the German-American artist Carl Rungius (1869-1959) were sold as a single lot for $9,900. The first was an oil on paper of a cowboy on a horse with snow-capped mountains in the background, with Rungius’ initials on verso. The second was an oil on canvas of a snowy landscape, featuring Rungius’ trademark thumbtack marks on each corner.

An 1892 marble bust of Sir Arthur Conan Doyle, the creator of Sherlock Holmes, by Sir William Hamo Thornycraft, the initiator of the “New Sculptors,” went for $4,520. It is signed and dated at the bottom of the bust. Also, an oil on canvas work by Konstantin Alexeivitch Korovin (1861-1939), titled Interior of Room with People, crossed the finish line at $15,800.

Philip Weiss Auctions’ next big sale will be dedicated to Comics, Comic Art and Animation Art. It is slated for Sunday, Feb. 28, at 10 a.m. Featured will be the comic collection and original art from the estate of noted cartoonist Eldon Dedini. The comics consist of 21 key Golden Age books, all unrestored, with the owner’s name and code numbers noted on the covers.

Included in the collection are Detective Comics #’s 1, 2, 28, 34, 38, 40, 41, 42 and 48; More Fun #60 and 62; Batman #3, 4 and 5; comic art, to include a great 1962 Peanuts baseball daily and a Herriman Krazy Kat, both fresh to the market; two fresh to the market Hogarth Tarzan Sunday pages; a wonderful early Peanuts daily; and Eldon Dedini Playboy illustrations.

Then, on Saturday, Mar. 20, at 10 a.m., another auction will be held, this one dedicated to barber shop, militaria, nautical, presidential memorabilia and advertising items. Recently arrived are an original life preserver ring, café chairs and a deck lounge chair from the ill-fated ocean liner the Andrea Doria. The advertising section will feature a nice selection of Mr. Peanut items.

In April, at a time and date still to be determined, Philip Weiss Auctions will be proud to offer The Edward Ryan Toy Soldier & Military Memorabilia Collection. Mr. Ryan was a noted author on the subject of paper toy soldiers. His collection covers paper soldiers, plus Britains, composition soldiers and important French military memorabilia. It should be a good auction.

Philip Weiss Auctions is always accepting quality consignments for future sales. To consign an item, an estate or a collection, you may call them at (516) 594-0731, or e-mail them at phil@prwauctions.com. To learn more about Philip Weiss Auctions and its calendar of upcoming auctions, to include the Feb. 28 and Mar. 20 events, click on www.prwauctions.com.

Ask Scott – Home and Garden – sacbee.com
Published: Saturday, Dec. 13, 2008

“Your grandfather may have had an old stamp collection that’s been in a drawer or on a closet shelf. None of the kids are interested in stamp collecting, so you don’t think much about it. Considering the new catalog values for classic postage stamps, it’s time to start thinking.

According to the “Scott Specialized Catalog of U.S. Stamps” (the bible of philately), the price for classic stamps has skyrocketed.

Even as the stock market roller coaster continues and gold fluctuates, the value of collectible postage stamps continues to steadily rise.”

Read the Full Story >>

PIMCO Founder Bill Gross Selling More of His Acclaimed Stamp Collection for Charity

(New York, NY) – Renowned Wall Street money manager, Bill Gross, will offer another portion of his extensive, international stamp collection in a public auction conservatively estimated to bring over $1.25 million. All proceeds from the sale of his British Empire stamps will be donated by Sue and Bill Gross to the Millennium Villages Project at the Earth Institute at Columbia University, according to Charles Shreve, President of Spink Shreves Galleries of New York City and Dallas (www.SpinkShreves.com), the auction house that will conduct the sale in New York City on October 3, 2008.

Pre-auction displays of the historic stamps are planned in London and New York.

It’s the third time Gross has offered portions of his acclaimed philatelic collection to raise millions of dollars for charity, and the second time the Millennium Villages Project has been selected as the recipient of the proceeds.

“This portion of the collection has 138 items; rare and even one-of-a-kind stamps and covers (envelopes with canceled stamps) from across the globe of the 19th and early 20th century British Empire. There are classic rarities from such places as Australia, the British West Indies, the Cape of Good Hope, Cyprus, Gibraltar, India, Malta, and Mauritius ranging in value from a few hundred dollars to a hundred-thousand dollars each,” explained Shreve.

“This is a remarkable collection and a remarkable commitment to charity.”

Gross, of Laguna Beach, California, is Founder and Co-Chief Investment Officer of PIMCO of Newport Beach, California, one of the world’s largest money managers with over $830 billion under management.

The pre-sale estimate for the William H. Gross British Empire Collection is $1.25 million to $1.5 million, with proceeds to be donated by the Gross’ to the Millennium Villages Project.

“We again selected the Millennium Villages Project because they are developing unique health, education, agriculture and infrastructure programs to help some of the poorest people throughout the African continent escape from extreme poverty. The success of these projects is made possible with private sector assistance,” said Sue and Bill Gross in a joint statement.

“We are deeply honored and inspired by Sue and Bill Gross’ contribution to the Millennium Villages Project,” said Professor Jeffrey Sachs, Director of the Earth Institute. “With new, powerful technologies available to help African villages to grow more food, fight disease and bring information by Internet and mobile phones into the community, the opportunities are enormous to break the poverty trap in Africa. The Gross’ continued generous support will have an incredible impact on survival and economic development in some of the poorest parts of the world. The stamp auction is a brilliant and creative example of how individuals can help to lead the global fight against poverty, hunger and disease.”

Highlights of the upcoming auction include:

A letter postmarked July 10, 1849 with an “immensely rare” Indigo Blue shade, two-pence denomination stamp of Mauritius, the finer of only two such known covers. The pre-sale estimate is $75,000 to $100,000.

A trial printing “square pair” of 1863 Cape of Good Hope triangular-shaped, carmine red, mint condition, one-penny denomination stamps has a pre-sale estimate of $80,000 or more.

One of only two known mint examples of an 1886 Dominica six pence stamp mistakenly counter-printed with a “One Penny” surcharge is expected to sell for $40,000 or more.

The stamps will be displayed for potential bidders at the Autumn Stampex Show in London, England, September 17 – 20, and at the New York City offices of the Spink Shreve Galleries, September 30, and October 1 and 2, 2008. There is also a special web site to view the collection online, www.WilliamHGrossCollection.com.

For additional information, contact Spink Shreves Galleries, 145 W. 57th St., 18th floor, New York, NY 10019. Phone: (212) 262-8400. Online: www.SpinkShreves.com.

An unused 1869 24-cent inverted center U.S. stamp, # 120b, certified Fine and one of only four unused examples known to exist, soared to $1.271 million at a sale of The Newport Collection held February 9, 2008 by Philip Weiss Auctions. It was a new world auction record for a U.S. invert, eclipsing the $825,000 paid for a 24-cent “Inverted Jenny” sold at auction late last year.

People will be buzzing about the 1869 24-cent invert for some time to come. It was the only completely sound- and fault-free example of the stamp and was the second best centered such stamp known to exist. Still, the specimen carried a conservative pre-sale estimate of $200,000-$300,000. The Scott Catalog valued the stamp at $325,000 with gum (unlisted no gum). Bidders saw things otherwise.

Philip Weiss Auctions is a full-service auction facility, with a spacious gallery located at #1 Neil Court in Oceanside, N.Y. To learn more about the company and the upcoming auction dates, log on to the new website at www.prwauctions.com

In second place, behind the 1869 24-cent stamp, was an 1869 15-cent inverted center stamp, # 119b, unused. It hammered for $757,100. The 1869 15-cent invert (# 119b, unused, no gum) was expected to be the day’s top lot, since it was one of only three in existence – and one of those was recently offered for sale, with an asking price of $2.5 million. The one sold by Philip Weiss had a Fine Certification, but it exhibited some faint soiling in the left and right margins. That may have driven the price down some.

The Philip Weiss sale also featured an Inverted Jenny (so-named because it depicts an upside-down Curtis 4-N “Jenny” bi-plane). That stamp sold for $271,200, making it the third top lot of the sale. The 24-cent Inverted Jenny (#C3a, Position 31, unused) was in mint condition and one of only three known to exist. When the same stamp was sold at auction in 1972, it was described in the sale catalog as the “star item of the sale.” And no wonder: the Inverted Jenny has long been considered one of stamp collecting’s Holy Grails. This one had been tucked away in a closet for the past 35 years.

UPDATE (March 4, 2009): As a commenter pointed out, there is a Inverted Jenny going up for auction today from Warwick and Warwick (www.warwickandwarwick.com).

They give some nice information on the history of the stamp:

“The U.S.A. 1918 inverted “Jenny” is arguably one of the three icons of world philately and certainly one of the most famous stamps in the world. Warwick and Warwick are please to announce that they have been instructed to offer a mint copy of this famous error in their March 4th 2008 auction, on behalf of a British client.

The story of how this rare stamp was discovered is well known. Mr William T. Robey, a stockbroker’s clerk, was keen on sending first day covers to his friends whenever the U.S.A. issued new stamps and on May 14th 1918 he went into his local Washington DC post office to purchase several examples of the new 24c airmail stamp. The counter clerk had insufficient in stock and Robey was asked to return at midday, when a further delivery was expected. Robey returned and, when he saw the new complete sheet of 100 stamps, “his heart stood still.” The aeroplane depicted in flight, the Curtiss JN-4 Jenny, was flying upside down on every stamp! Robey quickly handed over the $24 and purchased the entire sheet. He then asked to view the rest of the sheets they had at the post office and all were normal, depicting the aircraft the right way up. Robey then visited other local post offices, but could find no other sheets with the inverted Jenny error. Realising he had a valuable find, he showed his purchase to a fellow worker, who went out looking for further errors, without success. Soon the story spread and it was not long before Robey was visited by postal inspectors seeking to repurchase the error sheet. Robey held firm and did not even show them the sheet.

The error had occurred because the stamp’s two colours were printed in two separate operations: first the sheet was passed through the presses and the red frame was printed and then the sheets were passed through a second time and the blue central image of the aircraft was printed. After the first printing the sheets would have been inspected for errors and then returned to the presses for the second printing, but at this stage, one of the sheets was fed into the press the wrong way round and the aircraft image was inverted relative to the frame. It is argued that the counter clerk who sold Robey the error would not have been aware that the image of the aircraft was inverted, as he had probably never seen an aeroplane in his life, being only 15 years since the Wright brothers’ first flight in a heavier than air machine.

The first stamp dealer to see the sheet offered Robey $500 for it; the second was Percy Mann, who offered $10,000. Robey did not accept the offers and instead took the sheet to New York on May 17th. He tried to contact Colonel Edward H.R. Green, one of the most important collectors in America, but unfortunately Green was away. Eventually Mann introduced Robey to Eugene Klein, of Philadelphia, who eventually bought the sheet for $15,000 on behalf of a syndicate consisting of himself, Mann and Major Joseph Steinmetz, President of the Aero Club of Pennsylvania. The dealer who had made the initial offer of $500 then increased his offer to $18,000, but the deal had already been done. The syndicate who bought the sheet then sold it to Colonel Green for $20,000.

Green authorised Klein to split up the sheet, numbering the position of the stamps, lightly in pencil, on the reverse, before doing so. Green retained the plate block of 8 and 3 blocks of 4 and Klein was instructed to sell the balance. Initially singles were priced at $250 each, with straight edge copies from the side of the sheet priced at $175. There is an apocryphal story that Green requested Klein to send him back a few copies to show or give to friends. These were lying on Green’s desk and ended up in the waste paper basket by mistake and were destroyed.

The stamp quickly gained iconic status and rose in value; by 1940 singles were changing hand at $4,100, by 1965 $12,500, by 1979 $130,000, by 2001 $185,000.

In 2007 two were sold, both in exceptionally fine condition and they achieved $825,000 and $850,000 before the addition of the buyer’s premium.

The copy to be offered in the Warwick and Warwick auction is position 23. The provenance is as follows:

In February 1941 Spencer Anderson advertised it for sale, at $3,500, in the journal “Stamps”. Its condition was described as “mint” and the sale was transacted at $3,000.

In June 1942 it was sold by Hugh C. Barr, of New York, for $2,100, its condition being described as “full original gum”.

In April 1943 it was offered by Phillip H. Ward, as part of the William West collection and the buyer was Carl Pelander of New York. The realisation was $1,910.

In October 1982, Harmers of New York sold it on behalf of a British collector for $52,000 + $5,200 buyer’s premium. The buyer was a British collector and the stamp has not subsequently appeared on the market.

Prior to the Harmers’ sale, the stamp was submitted to The Philatelic Foundation of New York for expertisation. The certificate they gave it is number 108068 and is dated April 23rd 1982. They describe the stamp as “genuine with a tiny thin spot covered by gum.” Warwick and Warwick experts have examined the stamp in detail, using high powered magnification equipment and are confident that the “tiny thin” referred to on the certificate relates to an insignificant paper blemish which was part of the paper on which the stamp was printed. The gum is totally original and there is no damage to the stamp whatsoever.

This icon of world philately is being offered in the Warwick and Warwick auction to be held in the Court House, Warwick, on Wednesday March 4th. It is estimated at 150,000 pounds.”

A 2-cent Pan-American inverted center U.S. stamp (Scott # 295a, unused) in mint condition rose to $118,650. The stamp, one of only 75-100 unused examples, was graded Extremely Fine and had a pre-sale estimate of $45,000-$60,000. It was beautifully centered, with uncharacteristically massive margins. The paper was sound, and the gum was only slightly affected by some light hinging at the top.

An 1869 30-cent inverted center U.S. stamp (Scott # 121b, unused, no gum) crossed the block at $248,600. The stamp, one of only seven unused examples in existence, was graded Fine and had a pre-sale estimate of $75,000-$100,000. The Scott Catalog valued it at $210,000. The example was bright and fresh, with only light staining on the reverse and a pulled perforation at the bottom.

New York Times
By MATTHEW HEALEY
Published: November 18, 2007

“Last Wednesday, Mr. Hack attended another stamp auction, at Siegel Auction Galleries in New York City, and went home with a second Inverted Jenny after bidding $850,000. The final price, with the commission, came to $977,500, a record for an American stamp sold at auction and a confirmation of a trend that is transforming the world of high-end collectibles.”

Read the Full Story >>

The article goes on to mention that auction prices for many rare and high-quality collectibles, including coins and memorabilia, have gone up significantly in recent months. Other examples mentioned were a collection of American pattern coins that were traded for $30 million between an anonymous buyer and seller, and a 1935 “Bride of Frankenstein” poster that was originally purchased for 50 cents sold for $334,600 by by Heritage Auction Galleries.

The increase in prices is attributed to the wealth accumulated by the baby boomer generation, and their ability to purchase items they remember from their youth. Another area that is mentioned to watch are vintage science fiction books.