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Stanley Gibbons Buys British Guiana 1c Magenta

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Posted 06/08/2021   7:58 pm  Show Profile Bookmark this reply Add Bobby De La Rue to your friends list  Get a Link to this Reply

Quote:
Interesting. Mr Weitzman takes a hit too.


I think he'll be OK, given the profit he made on the double eagle!
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Posted 06/08/2021   8:20 pm  Show Profile Bookmark this reply Add tsmatx to your friends list  Get a Link to this Reply
Interestingly, Sundman also seemed to suggest the 1c magenta went for more than it's worth: "The 1¢ British Guiana sold for more than I expected. The price, with commission, is $8.3 million. That's a lot of money to anyone and the new owner must be excited with their purchase."
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Posted 06/08/2021   9:23 pm  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
If your a customer of Stanley Gibbons , maybe you can ask them .
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Posted 06/09/2021   12:08 am  Show Profile Bookmark this reply Add Parcelpostguy to your friends list  Get a Link to this Reply

Quote:
Interesting. Mr Weitzman takes a hit too.


Quote:
I think he'll be OK, given the profit he made on the double eagle!


Actually, the sale was not for profit. The items were assigned to and being sold with the sale realization being donated to a charity by Mr. Weitzman. That was announced along with the to be sold announcements.


Quote:
Those owner stamps on the back are like those tattoos that you got on that drunken shore leave and when you were positive that Sheila was the one. Ill advised and constant reminder that some vanity is best expressed with monogrammed cufflinks.


Guess you failed at your chance to pick it up and then erase the docketing. While I don't particularly depart from your thinking, I will point out the drunk sailor did own the skin he was having tattooed.

---------

@floortrader: Gibbons has a used copy, they are looking for a mint one.
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Edited by Parcelpostguy - 06/09/2021 12:11 am
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Posted 06/09/2021   06:36 am  Show Profile Bookmark this reply Add angore to your friends list  Get a Link to this Reply
SG is being so generous to allow others to share ownership.
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Al
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Posted 06/09/2021   08:22 am  Show Profile Bookmark this reply Add usinbritain to your friends list  Get a Link to this Reply
For anyone interested in the financing of the purchase - as I former banker I find this very interesting:

https://www.investegate.co.uk/artic...81603332189B

Full disclosure - I worked on the Esselte Sweden account for a major US bank a couple of years after Esselte bought Letraset/SG & placed SG for sale.

Steve
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USA postal history 1750s - 1950s
Surbiton, England
https://www.stephentaylor.co.uk
Your American dealer in Britain since 1995
Edited by usinbritain - 06/09/2021 08:23 am
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Posted 06/09/2021   10:17 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
USINBRITAIN----Thanks for the link to the news article .It has some important points .

First ---The stamp is not owned by Stanley Gibbons ,it is own by Phoenix Partners .

Second ---Phoenix Partners has said they plan to sell it in 5 years .

Third ---As a investment company they plan to increase dealings in collectibles .

Fourth ----- Looks like they plan to be a big fish in the stamp market . They stated "creating a world leading digital platform for collectibles -----So my guess ,one of their goals will be to buy STAMPBOARDS or this platform STAMP COMMUNITY BOARD . The other area they will need to spend money and establish a quick presence will be the stamp auction business ,Stanley Gibbons try it but it was a sad performance ,a better plan would be to buy someone who has a established base of customers {remember they are giving this 5 years to establish and show investment results }. My guess again would be to buy a Grosvenor or Sandafayre which both has a good history and a decent book of customers .
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Posted 06/09/2021   10:19 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Thank you for sharing that Steve. I did find it very interesting.

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Posted 06/09/2021   10:22 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply

Quote:
"The Inverted Jenny Plate Block American stamp eclipsed its own record to fetch US$4.9 million. Its new owner is billionaire David Rubenstein, co-founder and co-executive chairman of the private equity firm The Carlyle Group."


https://www.barrons.com/articles/st...-01623186650
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Posted 06/10/2021   06:16 am  Show Profile Bookmark this reply Add angore to your friends list  Get a Link to this Reply
Hmmm. Hard to believe they would buy a philatelic forum.

I read the link as the SG holding company gave tge SG subsidiary a loan to purchase and that SG may partner with the another company to market collectibles. It seems it would be marketed "through the increasingly popular concepts of fractional ownership and the creation of digital collections."

I wonder if the idea is someone could own percentages of stamps and could view their "collections" online.
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Al
Edited by angore - 06/10/2021 07:07 am
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Posted 06/10/2021   07:09 am  Show Profile Bookmark this reply Add gmot to your friends list  Get a Link to this Reply
That mention of "creating a world leading digital platform for collectibles" wouldn't refer to purchasing a stamp forum. But more creating an trading/investment platform. Could be this fractional ownership for the magenta is the first of more planned, in the field of high-end collectibles, not restricted just to stamps. For example, would enough people want to own a piece of a Picasso or Van Gogh?
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Posted 06/10/2021   07:18 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
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Posted 06/10/2021   07:48 am  Show Profile Bookmark this reply Add NSK to your friends list  Get a Link to this Reply
As the article states, SG Limited owns the stamp. It took out a loan from the majority shareholder of its parent company SG plc.
The loan has been secured against the item.

Castlenau Group is considering developing a new digital platform, not SG, nor Phoenix SG Limited. However, the owners of Castlenau Group and Phoenix SG limited have a common parent at some level.

Why a trading platform for collectables would mean they would buy this forum or Stampboards is a complete mystery. Developing is not buying, but it could be. The sites are not platforms for selling or buying collectables. As for enjoyment of the hobby, that is for everyone to judge. More importantly, I do not see why "collectables" should be synonymous to "stamps." Buying Delcampe, or Catawiki makes much more sense as those are not solely focused on stamps, but on collectables in general. Both Grosvenor and Sandafayre are philatelic and not general collectables businesses.

The article does not go beyond stating SG Limited's partnership with Castlenou might provide it access to the latter's platform. SG has its own auction site on which it offers digital access to its regular auctions. That would give SG another means of selling its stamps, not substitute for its current business.

The people quoted in the article are all related to SG and not speaking on behalf of Phoenix. That Phoenix is planning to sell the stamp within five years, is pure inference. Since they do not own the stamp and the loan does not mature in five years, Phoenix has little say in that. They must agree on a sale, but nothing in the article states they determine when to sell the stamp.

As the details of the transactions show, the item can be returned to Phoenix at the end of the period. However, the loan can also be extended. At best it can be inferred SG is planning to sell it within that time and it is considering doing so by offering shares in it. Phoenix may be expecting to get a return on its investment through SG's plans.
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Edited by NSK - 06/10/2021 07:51 am
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Posted 06/10/2021   07:57 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Lord knows how Castlenau Group ended up in this given their Real Estate focus, specifically rental units.

https://www.castelnau.com/about/

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Posted 06/10/2021   08:29 am  Show Profile Bookmark this reply Add NSK to your friends list  Get a Link to this Reply
Another company (maybe same group). The one in the article is located in Guernsey.

https://opencorporates.com/companies/gg/1-67529
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