A great writeup from invertedcenter.com which appears to no longer exist:
Although there are several inverted Elephants on the stamps of Liberia, there is one that has eluded all collectors for 70 years, and most collectors for the past 17. It is Scott#62a,issued in 1905, the 5c Ultramarine and Black showing an African elephant upsie down.
It is believed that it was discovered in the stocks of the Liberian Post Office shortly after it was issued in 1905. This sheet of 60 stamps showed the number 482 on one of its margin corners which means that this error occurred during the normal run of printing this stamp. Although the stamps from this once unique sheet will forever be called "inverted Elephant" , it is actually the frame that is inverted.
Getting back to its history as told Kasimir Bileski, this unique sheet of 60 inverted centers was acquired by the well known dealer, Philip Ward Jr. He sold it to its only owner who never publicized it, but kept it in his possession up to about 28 years ago.
However, it was probably Philip Ward who brought it to the attention of the Scott Catalog
and as Colonel Rogers remarked in the Century of Liberian philately book, Scott was the only one that listed it and that he himself had never seen a copy.
Then Mr. Bileski, better known, better known by his intriguing advertising over the years as "K. Bileski" bought the sheet intact by a private treaty transaction from the firm of H.R. Harmer about 28 years ago. At the time, Mr. Bileski stated that he also had never seen this stamp except that he did accumulate over 300 want lists for it over the years. Mr. B. then proceeded to break up the sheet into 56 singles and one margin block of 4. He sent out almost all the single copies to clients and advertised a few at $500 each. He was pleased that he would make at least 56 people happy having one copy in their possession. In leaving one block of 4, he created a unique piece for posterity as well.
In a descriptive explanation at the time, he wrote about the time and effort he put out in the vain search for this invert, as well as the hundreds of frustrated collectors who couldn't find one at any price.
He also suggested its similarities to the U.S. 24c jenny invert error; that the Jenny sheet was sold at about the same time frame as the Elephant sheet; and was sold to Colonel Green by a friend of Philip Ward's. And the differences, to wit that the elephant invert was almost twice as rare as the awesome inverted Jenny and for "almost 70 years far more elusive, as no one was able to buy a copy."
Of course, that is where the similarity ends; because rarity (supply) takes second place to demand in rare stamps as it does in most collectables. The demand for rare United States stamps overpowered the supply of the 100 inverted Jennys by so much that even the meager 60 stamps supply of these performing elephants could not compete. The market value of the Jenny is 200 times the value of even a jumbo elephant.
Beauty and desirability is in the eye of the beholder and it is true that in the world of collecting inverted centers there is something for everyone. Each challenge has its own price tag.
One stamp invert sold for $850 about 6 years ago.
I came across one 4 years ago with the side selvage and able to tell the number (postion number). I paid $500.
I got it cheap because I called the dealer in manhattan and paid him cash for this gem.
I have yet to see any of them anymore.