The recent stamp auction in New York of items from the Bill Gross collection made headlines by fetching a total of $19.2 million for 317 items over two days. The auction featured some of the rarest and most valuable United States postage stamps, making it a must-see event for stamp collectors and investors.
One of the standout items at the auction was an 1868 Benjamin Franklin stamp, of which only 2 known examples exist. This rare stamp sold for a record-breaking $4.3 million, the highest price ever paid for a US stamp. Another highly prized item was an Abraham Lincoln stamp, also one of only 2 known, which sold for $2.8 million. The Lincoln stamp proved to be a wise investment, purchased in 1986 for $190,000 compared to the Franklin stamp which cost Mr. Gross $2.97 million in a trade.
Bill Gross, known as the “bond king” in the world of asset management, has also earned the title of “Stamp King” for his significant contributions to the world of philately. Despite his financial focus on stamp values, Gross is widely respected in the collecting community for his passion for stamps and his charitable donations from stamp sales. The catalog for this auction is considered a valuable resource for collectors and investors, highlighting the importance of provenance in stamp investing.
While some items in the auction sold for prices below $1,000, owning a piece from such a prestigious collection can add value to a collector’s portfolio. Provenance, in the form of the history and background of a stamp, can enhance the overall value of a collection when it comes time to sell. Auctions like this provide an opportunity to diversify and enhance a collection with unique items that have a storied past.
The success of this auction brings attention to the world of stamp collecting and investing, showcasing the passion and dedication of collectors like Bill Gross. The high prices paid for rare stamps demonstrate the enduring appeal of philately and the potential for significant returns on investment for those who are knowledgeable about the market. As stamp sales continue to make headlines, more collectors and investors may be inspired to explore this niche market and discover the treasures it has to offer.
