Billionaire Bill Gross Sells Stamp Collection For Record Price

If I asked you right now, “what would you pay for an unused block of the 1857 5-cent Jefferson Perforated Stamps?”, what would you offer? (No fair Googling it.) Would it be $500? $50,000? If I told you that it was Bill Gross’s, would you then be surprised to learn that $500,000 would be closer to its price?
On Wednesday, 103 treasures from his collection sold for a shade over $10 million, setting the all-time record for a single day stamp sale. The Jefferson Perforated’s, at $472,000, were not even the top lot. That honor went to the 24-cent 1869 Pictorial Inverted Center, which fetched almost $750,000.
Scott Trepel, the President of Robert A. Siegel Auction Galleries, which sold the collection, enthused “It was a truly unprecedented night for philately.” The average lot fetched approximately $100,000; by comparison, most lots sold at Siegel each year bring only $2,500. Hundreds of bidders participated, and 120-plus actually took the time to go to the gallery to bid live, (an increasing rarity in the online era.) Willing to make the trek were a nonagenarian ex-U.S. Ambassador, a tech pioneer from Pebble Beach, CA, Gordon Eubanks, and even some curious bystanders. Sounding a bit like Charlie Brown, Trepel effaces, “It’s hard to find somebody who wants to come watch a stamp auction.” Yet, he himself might have been part of the reason the room was packed.
Continue reading starting at ‘Trepel started at Christie’s’….
Billionaire Bill Gross Sells Stamp Collection For Record Price

Do you like our articles? What do you want to see or read about the wealthy?