Don't Give On Your Worldwide Collection

Just 15 minutes ago on 11-18-2016 at Robert Siegel Auctions in New York a collection was sold . The collection was 33 Scott Specialty Albums . The opening bid was $450,000 and ended up selling to the high bidder for $745,000.
Now that gives me motivation to keep working and expanding my own collection ,there is no such thing as too big . I got 60 years into my collection and hope to expand it over the next 15 years .
WOW ---One collection ! and there are still buyers out there .

That must be some collection! I'll go and have a look at their catalogue. Who said the stamp market was stagnating?

I've just skimmed the catalogue, and it is chock full of juicy rarities. I suppose you could argue that this worldwide lot #3946 just about failed to make the top-end estimate of $750,000! Maybe that's being a little harsh I hope the buyer will continue to build on the collection rather than split it up.

It's also interesting to note that quite a few items from 2015/2016 Vestey estate sales here in the UK are already being re-sold. I think they went through Spink originally.

please post a link to that auction. thank you

Catalogue at https://siegelauctions.com/2016/1143/1143.pdf

Auction on line at https://siegelauctions.com/sales.php?sale_no=1143

So this means my worldwide collection must be worth at least 1 hundredth of that?! $745.00! Yay!!

Sorry, but that's only 1 thousands, not 1 hundredths.

My guess is that another stamp auction firm bought it, like a Regency ,Rasdale ,Dutch Auctions or H.R.Harmers and they plan to piece meal it out .This would give them large variety of material to round out their own auctions .

Noted that the auction contained items from the estate of long time stamp dealer Irwin Weinberg. Wonder if the big collection; which came from an estate; was his?

It isn't great news if he spent much more on putting together the collection than what it sold for...
Don

wow thats alot of money
Guy probally collected for his entire life or got the collection from family members

NA........he didn't loose any money.......It is a lot like my collection......it is called a TAX-FREE Collection .I will let others explain what that means .Besides the collector died before the sale, he lost nothing.

Except his life?

I doubt anyone here can say how much he spent assembling this collection, so to definitively state that no money was lost is simply incorrect.

This is why I think it is important to emphasize the intrinsic enjoyment of the hobby over any loss/gain in monetary value (for hobbyists). Now of course a dealer has a difference perspective but there is still no definitive way to calculate profit/loss without being intimate with his books.
Don

I'm a new collector and I've read the auction description and find the following paragraph confusing:

"Our conservative estimate is based on the fair market value of the stamps if they were offered in typical individual lots and small country collections. The estimate does not reflect the extraordinary opportunity to acquire a worldwide collection of this vast scope and depth in one lot. Filling page after page with the sets and scarce issues found in this collection took decades and, if attempted incrementally, would take an equal amount of time. For someone who loves stamps -- the entire world of stamps -- and wants a "turn-key" worldwide collection on which to build, this is a unique opportunity. Needless to say, for a dealer with the means to make a substantial investment, its acquisition within, or even above, our estimate range holds certain potential for a substantial resale profit."

If the collection is based on fair market value of all the pieces if they were broken down and sold off in pieces how is it possible for them to also state "potential for substantial resale profit" if they are valuing it as if someone put all the labor into selling off all the parts?

Market value if broken down into broad groups by the auctioneer. If broken down further by a dealer, they could raise more.