Inverted Jenny Sells For $1,175,000

Dang! And here I only had $1,174,999.99 available to spend on it! If only I'd have had one more penny!

What as the final bid increment? and what is the final price with the buyer's surcharge?

Siegel lists their buyer's premium at 15%, so that should make the final buyer's price $1,351,250.

Not sure what the bidding increment after $1 million is -- I, for one, never got that high.

But $25,000 is the bidding increment at least up to $1 million. Given the hammer price was $1,175,000, I'd guess the increment after $1 million was still $25,000.

Dang ---It will reside at the Trump Towers or some place in the Mideast ,I know one thing the hunt for the missing Jenny will be stepped up .

I listened to the auction live (through stampauctionnetwork.com). The increments were primarily in $50,000. It sounded as though Siegel accepted a called out $25,000 increment when there were no takers at $1,200,000 after a $1,150,000 bid.

Wouldn't this stamp also be subjected to the NY State Sales Tax? So all in, what did it come to?

It's previously hinged, so I can't see going a dollar over $1 million.




At the risk of resurrecting the debate over grading stamps that occurs in another extensive thread, one wonders what effect the PSE grading, and proposed market value of $1.6 million, had on the bidding or buyers.

Is this the APRL stamp that was rediscovered after being stolen and missing for some time?

In case someone missed it when I posted it before;

http://invertedjenny.com/

No, this is not the APRL stamp - this was position 58, the top graded example (though it is hinged). Rumsey is also selling a Jenny today (position 8, which has been reperfed at top).

The newly rediscovered McCoy/APRL jenny is position 76. APRL doesn't have possession of the stamp yet, and I imagine it will be a while before any decisions are made about what to do with the stamp once it comes home.

It will be interesting to see if the buyer remains unnamed.

Something tells me Mr. Trump is more likely to invest spare cash in his new career attempt in the political world.

And with oil prices in reverse I think the winning bid may have come from an Asian buyer rather than one from the Mideast. The stamp market in China has created major new investors now being serviced by a new Stanley Gibbons office located in Hong Kong.

Great story, lukusu. Death by a vacuum cleaner; how terrible!

On the "graded stamps" argument, I did notice that it definitely seemed to be affecting the auction market--at least for late 19th and early 20th century stamps. For example, a 4c #296 graded 98 sold for $4000 and the INVERT of the same stamp sold for only $6500!! So, I don't get it, but there definitely seems to be a strong market for high graded stamps. And at the dealer booths, I don't know how many times I heard buyers asking for stamps above a certain grade. For myself, I just care if it looks good to me...there might be small things, perf faults, etc, but if I like the overall appeal, I'll get it.

I should be able to get $10.00 for mine then...haha

Robert

NBC News just released an on-line story about the missing/returned Jenny

http://www.nbcnews.com/news/us-news...rned-n584551

They mentioned the recent sale, but didn't say anything about the big show in New York. Pity.