Scott #389 Orangeburg. Anyone Have One?

Outstanding! Congrats!!

WOW! I am very happy for you! Would you mind sharing with us how you found or received this stamp? It's OK if you'd rather not, but would be interesting to know.

Congratulations. Here's an interesting source with 11 pages on this coil. http://www.siegelauctions.com/lot_g...tFirst=First

Love this!

Wow! That's absolutely incredible! Congratulations jingi!!

I see Regency-Superior Auction has one in an upcoming Auction and has great centering as your does. Open is at $7K. Will be interesting to see where the hammer falls on this one.
Doug

Congrats! What a find!

To find a genuine Orangeburg coil is awesome. Congrats. I am truly green with envy.

Congrats!!

Thanks, thanks, thanks!

Al E. Gator:
There is no big and nice story behind my Orangeburg coil find. Grandfather was a big collector of US stamps. He wasn't able to teach me about stamps. I was supposed to sell the collection after his death. Now the collection is mine for more than 3 years and I didn't sell a single stamp yet. I am just enjoying the collection. It is a fun to go through the collection and get know something interesting about stamps and so on. You all know it... So, one day almost one year ago I was playing with one of my albums. There was #387, #388 and #389. All of them are posted somewhere above. I didn't pay attention so much because they can be really easily faked. After some time I returned to the #389 and checked all auctions, websites, Scott catalogues and the suspicion was here. The wavy cancel on my item matched to all items on the internet. It is simply what happened then: SCF - this link - great stamp family - certification - genuine #389. I assume grandpa didn't believe that it can be genuine. Would be nice to know where he find it... Too late to ask...

dkucyk:
Thanks for this information. I am really curious about the final price.
http://www.regencystamps.com/USA__3...T339673.aspx
By the way this stamp was already sold in Siegel's for $4500 one year ago.

Happy new year and great finds to all of you!

Not to be a wet blanket, but I would take that Regency estimate with a grain of salt. They are well known for setting reserves too high, supposedly because of consignor requirements, though I wonder at times. If Siegel sold (or tried to sell) the very same Orangeburg within the last year for $4500, then in view of the "slight creasing" mentioned in the cert, I don't see how Regency can set a $6750 start price on it. That's 2/3 of cat. Anyone with the cash to buy one of these would wait for a sound one at that rate. Will it be a surprise if it doesn't sell?

In my experience and in my opinion, the "auction estimate" is a marketing term that the auction house uses to try to set buyer expectations upward, in order to guarantee a desired margin of the auction house or its consignee or to eliminate "nuisance" bidders. It is not the live auction opening number, which is not published. That number is almost always lower and often reflects a reserve. I have bid on many lots where the estimate was utterly unrealistic, the opening number was far lower, and in some cases there were no bids even at that opening because the consignee had demanded a reserve that was too high. My practice is to pick the lots I want, carefully research market value via multiple sources not limited to Scott catalog, and to set a hard ceiling price that I will not exceed. If the opening number is greater than my hard ceiling, oh well, on to the next lot.

Sorry. Today must be my day to be sloppy with language. The regency "estimate" for their Orangeburg is $9500. The number $6750 is their STARTING BID. You can check at the link.

essayk - you are dead on about their starting bids, but in their defense, they usually ARE reserves set by the consignor, below which they will not allow the item to sell. In fact., I would bet the "real" reserve on this is $7,250. and REgency is willing to sell it with no selling commission. What this allows them to do, is to get a lot more impressive-looking stuff for their sales, which pumps up the image to the public that they have aquired a lot of really great stuff and can assemble a really big sale. I can't blame them for this because we did the same thing when we ran Weiss Auctions. It's a tough business, and the only way sometimes to be able to put together a good-looking sale is to allow the professional consignors to do this. Otherwise, they will not give the house the material. Also, they are hoping, of course, that not every customer does the kind of research you did to unearth the Siegel price - which if an actual sale, was the price the current owner paid, so he (the owner) is trying to make a lot of profit in a short period of time!

My understanding is the Siegel will not accept consignor reserves, but Regency does. Those high reserves often mean that an item will be in several sales in a row because they don't sell. I have seen numerous revenues like this. Sometimes they sell eventually to dealers who put an even more unrealistic price on it.