Australia Stamp Not Worth 99-Cents May Fetch $100,000!

Did anyone catch this recent news article?

http://www.theage.com.au/national/n...1-2jeqi.html

The stamp in question was offered for 99-cents on ebay with no bidders along with remarks to the effect that it "could not possibly be real" but philatelic experts certified its authenticity and estimated its value at $100,000.00.

The newspaper article is incorrect.

The owner bought the item in a mixed lot in a Public Auction in Scotland and broke up the purchase with the rare item starting price of 99c. He withdrew the lot for sale from ebay when he was informed that it may be extremely valuable and placed it in the hands of an agent to sell it for him.

The agent subsequently received a cash offer of $65,000 which he rejected and has placed it in the hands of Phoenix Auctions in Melbourne for sale at a future auction with a rumored estimate of $120,000 and $100,000 reserve,

Pagoda

Sounds interesting but you have to believe anybody with serious money and a interest in that stamp will hold back until the news gets out and millions of stamps are checked by their present owners. Then after a year or so and no others turn up ,then it could go for a high price ,but right now the question is HOW MANY MORE TURN UP .

no one knows how many more will be found.

It is normal for this stamp to be turned over for closer inspection, looking for inverted watermarks and for rough & smooth paper variations which are easier to tell from the reverse.

I was informed that there was a cash offer of $45,000 before the $65,000 offer.

It is more likely that if other examples are found they will also have a Leichhardt, NSW late 1914 date and every collector in Australia is already checking their holdings for that cancel and date. None found so far as far as I know.

It will be interesting to see what the final result will be, time will tell,

Pagoda

The Australian 1914-21 KGV 1d Red is the most collected stamp in the world.

It was printed in over 422 shades of Red.

It came in Single watermark type2 in Perforation Single line 14 and perforation comb 14.2.

It also came in Large Multiple watermark perforation comb14.2.

Over 500 million stamps were printed per year and is the most looked at stamp in the world. New discoveries are news indeed.

Yes! Australia has THE stamp in the world THE Australian KGV 1d Red!

I've checked mine. No sideways watermark. I don't think I will hit the powerball tonight either.

OK, for arguments sake, if another one is found does it devalue both of them, either of them? What if 3 or 4 are found (I know it probably won't happen, but.....), how would that affect the value, assuming all are comparable in condition?

Good reason to sell it as soon as possible!

I am about to commit blasphemy, but here goes. I understand that the stamp is rare and is worth whatever the market determines. BUT, I know that personally I can't get excited by watermark varieties. You can't see them when the stamp is mounted. I have found a couple of watermark varieties in the KGV series of Great Britain, but I look at them and say ho hum.

This even applies to my favorite series of US stamps---the Washington Franklins. I know that there are stamps in the series distinguished solely by watermark, and have collected them. But when all is said and done the difference is in the knowledge of the collector. Try and explain the difference to a non-stamp collector and you won't get very far.

If I were going to (and were financially able to) spend $100,000 on a stamp, it would have to be a pretty special stamp with a lot of OOH appeal.

ROHUMPY-----We all have our own special interest as collectors ,if watermarks are of no interest to you that is fine.But for the value of this stamp ,it will probality go to someone who makes a million dollars a year income and is looking to have something that his friends will OOH and AAAH about when he displays it .But first the hunt is on for more copies,if only one or two more are found then the value will be reduced slighty but if 5 or 10 are found the stamp will go down in value ,to about a tenth in value .