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Finally Will Get To Find Out What Ferrary Had

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Posted 11/28/2021   9:25 pm  Show Profile Bookmark this topic Add floortrader to your friends list Get a Link to this Message
Just had a interesting stamp auction purchase about 10 mins ago .I was the top bidder for Joachim Erhardt book which covers all the Paris and Zurich sales of the Ferrary collection .

I always had a interest in what was included in this statement--- ." The Worlds Finest WORLDWIDE STAMP COLLECTION" . Sure everybody could name the five stamps that appear in all the press statements about his collection . But it is 220 volumes that I wanted details about .Now I will find out .

Two things of interest ---Which stamps now don't appear in any catalog and can be fakes and also one thing I will never know is which stamps were forgeries .

I have a older Scott classic volume in very good condition ,so my plans are to buy a pink highlight marker and combine that with this book to mark what Ferrary had and add footnotes along the way .
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Posted 11/28/2021   9:51 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Should be really interesting.

Revcollector wrote this about the Ferrary auction catalogs:


Quote:
The complete collection is in 45 8.5x11 volumes of about 250 full page photos each. There are very few complete sets known; the PF has one.
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Edited by rogdcam - 11/28/2021 9:54 pm
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Posted 11/28/2021   9:53 pm  Show Profile Bookmark this reply Add revcollector to your friends list  Get a Link to this Reply
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Edited by revcollector - 11/28/2021 9:55 pm
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Posted 11/29/2021   06:44 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Thanks for that additional information .

I stated here I was going to drive up to the APS Library and spend a few days photo-scanning the auction catalogs {there are something like 22 catalogs for the whole sale }. Just a side note here the Photo-scanner at the Library is a gem ,easy to use and worth a trip ,just to have your own copy of research material . This purchase at auction will save me hundreds of dollars of gas,overnight lodgeing and food {I always end up paying for everybodies lunch at the in town Deli for staff members} .

I really want to study what this guy was doing , was he mixing mint and used , was he keeping complete sets ,was he into blocks ,perforations, and watermarks ,so on and so on or was he just a Whale and went dealer to dealer and flashing his money and acting like a vacum cleaner at stamp shops .
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Posted 11/29/2021   08:18 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply

Quote:
He often purchased important collections intact, guided by his consultant-curator Pierre Mahé, and employed two secretaries for the remounting of his stamps, covers and postal stationery. He never exhibited, and rarely allowed anyone to see any part of his collection, not wanting anyone to know what might be missing.

Ferrary liked to travel throughout Europe on "stamp hunts," paying in gold and usually indifferent to the prices he was charged. Dealers sometimes took advantage, selling him forgeries or (in the case of the Iceland "I Gildi" issues) specially-printed "Ferrarities."




https://www.museumofphilately.com/collector/6
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Posted 11/29/2021   09:53 am  Show Profile Bookmark this reply Add Richard Frajola to your friends list  Get a Link to this Reply
The complete set of 14 Ferrary Auction catalogs was reprinted (HB, well done images an photo plates and with index) in 1987 by Joachim Erhardt in Stuttgart, Germany. It also includes the Greece collection sold in 1929. I paid $125 for the reprint when it was published.
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Edited by Richard Frajola - 11/29/2021 09:54 am
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Posted 11/29/2021   10:25 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Thanks Richard , I just purchased the book last night at Kelleher 's Sunday night auction for $180.00 plus fees .
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Posted 11/29/2021   9:07 pm  Show Profile Bookmark this reply Add landoquakes to your friends list  Get a Link to this Reply
Good show on that purchase floortrader. It is truly amazing what Ferrari had. I gave a talk on Ferrari at one of our stamp meetings last year. If you haven't seen it yet, Wolfgang Maassen's book: The Mysterious Phillipe De Ferrari is a must read (also available from APS Library) and there is substantial information regarding the auctions.

Here's a bit of the text from my talk. A truly fascinating person. I didn't delve into his personal life, which was as colorful as the stamps he collected.

Count Philippe de Ferrari de la Renotiere was born in Paris on January 11, 1850. He was the third child and the only one to survive adulthood of Raffaele de Ferrari and Maria Brignole Sale. His parents were at the top of the social ladder in Italy. Ferrari's dad collected, well, money. He had a library where his hid government bonds. His wife didn't know until he passed away. There was no shortage of funds in the family.

Ferrari was a sickly hid and his mom encouraged him to collect stamps, which he did at the age of 10 in 1860. His first stamp series he could recall collecting that he enjoyed were from the German State of Hanover depicting of King George the V. (Ferrari's were probably in better condition than mine) This was a bit of foreshadowing with a collector from France enjoying German Stamps.

Ferrari was a quick study... being fluent in French, Italian, German, English and Spanish was a definite plus. He was a brilliant student and upon graduating from his studies in 1871 he signed a 10 year contract to be a state teacher. He didn't really need to work, but he did like to nettle his father who expected him to behave and carry on the family name.

When his father passed away in 1876, Phillippe renounced all his titles. He would still get an inheritance from his mother, who did adore him. It was no small inheritance.

In 1877 at the age of 27, Ferrari began collecting collections. He bought Daniel Cooper's Collection who was the President of the Philatelic Society in London. The Austrian Section alone was 32 volumes. The entire collection cost 3,000 pounds, a huge sum in 1877. One year later for 150 pounds, he picked up the most famous of stamps, the British Guyana One cent Magenta.

Ferrari was active in the early Paris stamp scene, attended meetings and authored articles. He was keen on stamp varieties and was very good at spotting fakes. He wrote his first article at age 15 and the older collectors were somewhat bothered by this new young whippersnapper. He hired Pierre Mahre to be his secretary. A wise choice too since Mahre published one of the earliest stamp catalogs in 1863. This first catalog was 14 pages long and had 1,493 varieties of stamps.

When his mother died in 1888, Ferrari became more isolated. He did enjoy travel and liked to visit England and other countries. While isolated in France, he was in face quite generous with his money, although he traveled discreetly. Few had access to his collections. Charles Phillips, who ran Stanley Gibbons Stamp Company for a time was one of the few to see Ferrari's stamp collection and the activity that would be surrounding it. Ferrari's albums were quite simple. They were a sheet of paper like an 81/2 by 11 sheet folded in half, with two rows of stamps with mint and used and any varieties. These were bound in folders and put on bookshelves. If a collection he acquired stuck his fancy, he kept it complete. His extra stamps were parked on top of the bookcases to gather dust. He never sold and rarely traded.

Many stamp dealers would reach out to sell stamps to Ferrari via telegrams. Ferrari was not an easy sell. He stopped buying collections after his first big acquisitions and preferred to pick up only what he needed. If a stamp struck his fancy, he immediately would hop on a train to get it. Many times Ferrari set the price.

It was said that Ferrari spent about 10,000 pounds a year on stamps. At the front of his stamp room, while the secretaries worked, there was a board with sharpened nails on it and various franc notes would be on these nails to be used for stamp purchases. Larger purchases would be paid for by check.

In later years, he spent more time in other countries such as Austria instead of France and by WWI his Germany sympathies caused him to be confined to Switzerland and have parts of his collection sent to him there from France. He passed away due to kidney failure in 1917. In his elaborate will he had money set aside to a long list of people who helped him out through the years, including money for philatelic societies such as the London Philatelic Society. He wished that his collection would go to the Berlin Postal Museum. This was too much to bear for French authorities smarting after WWI and they promptly confiscated his collection to auction for war repatriations for Germany. His great rarities including the one cent magenta were auctioned off in a series of 14 auctions. The amount raised was 30 million Francs, roughly 18 million dollars today (2020). The stamps left in Switzerland went to the family. Thus was the end of a collection that could never be accomplished again.
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Posted 11/29/2021   10:35 pm  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Thanks LANDOQUAKES .....Interesting info. ,some stuff I didn't know about him . The first thing that struck me was the numbers .

He collected from 1877 until 1917 . which is 40 years ,if he spend 10,000 Fr. roughly that would be a expense of 400,000 Fr. or lets say 500,000 Fr. plus having three people on staff ,travels and other expenses it is possible in 40 years it could be 1,000,000 Fr. .The sale was 30 million Fr. ---So not a bad life investment .
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Posted 11/30/2021   03:17 am  Show Profile Check GeoffHa's eBay Listings Bookmark this reply Add GeoffHa to your friends list  Get a Link to this Reply
The figure mentioned is £10,000 per annum, which would have been a lot more than 10,000 Fr.
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Posted 11/30/2021   07:26 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Thanks GeoffHa , your right I am mixing Pounds with Francs. So he spend about 500,000 Br. Pounds in his life time and the stamp auction sales yield 30,000,000 Francs ,need your help to figure out how that works out .
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Posted 11/30/2021   08:44 am  Show Profile Check GeoffHa's eBay Listings Bookmark this reply Add GeoffHa to your friends list  Get a Link to this Reply
You need help from someone brighter than me! There should be a past exchange rates calculator on the web, but I couldn't locate one with a quick search.
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Posted 11/30/2021   08:51 am  Show Profile Bookmark this reply Add classic_paper to your friends list  Get a Link to this Reply
Any numbers you come up with will be meaningless unless you know what you're after. You're attempting to regulate spending in GBP across 40 years, three monarchs, and a world war, sales earnings in French francs at the beginnings of the Great Depression, and then use an inflation factor and currency converter to marry all those together into a modern value in dollars. Not a simple task, even relying on the old ceteris paribus crutch used by economists.

For example, the average yearly wage in France in 1925 was 5850 francs, and 1kg of bread cost 3 francs. But five years before that, bread was 2 francs/kg, and five years later it was 4 francs, with no appreciable change in earnings. In 2002 the average French wage was 31,200 francs, and bread still cost 4 francs/kg.

Currency conversion from then to now is useless, since the French franc no longer exists, the US has long been off the gold standard, and generally no major country pegs its currency to another anymore. Purchasing power parity doesn't work due to supply constraints, price dislocations, and subsidies (see French bread, above).

What we can do, very roughly, is say this: the sale netted 30m francs, or the equivalent of about 5,130 average yearly wages at the time. And given French wages in 2002, that's the equivalent of 160m francs, or $23m USD ($37m USD in today's dollars). And this still won't be an accurate reflection, since we haven't accounted for the global introduction of income taxes and its effect on wages, or other nation-specific policies.

All you're really left with, is the conclusion that that either 1) the collection was grossly undervalued by present standards, or 2) collectibles are grossly (over)valued nowadays.
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Edited by classic_paper - 11/30/2021 09:09 am
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Posted 11/30/2021   08:56 am  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Today those 500,000 Pounds would equal approximately 70,700,000 Pounds or 94,000,000 Dollars.


Quote:
The amount raised was 30 million Francs, roughly 18 million dollars today (2020). The stamps left in Switzerland went to the family. Thus was


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Posted 11/30/2021   10:07 am  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Guess you guys are right ,trying to match currencies rates over a 40 year time span is a rabbit hole with his dealings with other stamp dealers in various currencies ,no sense can be made of it . As stated above by Landoquakes ,he would travel to London , Belgium, Germany ,Switzerland. and maybe to Austria to buy stamps in their local currency .
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Posted 11/30/2021   12:48 pm  Show Profile Bookmark this reply Add landoquakes to your friends list  Get a Link to this Reply
I too struggled with trying to find a modern conversion. In the end I think I just used an online converter which is still a big guess! There may be other mysteries. He had a lot of duplicates. Charles Phillips would longingly note duplicate collections that were gathering dust on top of the collection bookshelves. Ferrari did not like to part with anything, and there were very few trades. Like any serious worldwide collector he would have had plenty of extras, so what happened to all that? There was much speculation at the time of the auctions that some of the rarities disappeared, but at least they eventually showed up in those auctions. There was also concern that prices would be depressed with all that material brought to market at once. Not sure if that was proven either. Has anyone found a stamp with his mark on the back? I'm wondering if he put his mark on many of his stamps. It's on the back of the British Guyana.
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