Last Updated on 11/20/2007 by bidz
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.”
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.