Regency Stamp Auctions In St. Louis

Plus the consignors may also be creditors for other material already sold.

Regency closed the doors about 2 weeks ago . I believe the taking on the Gibbons Distributorship for the US & trying to sell
supplies to their mailing list contributed to a cash flow crunch . I don't agree with the statement that stamp collecting is dead.
Archie

Welcome Archie . You may be in for a surprise if Gibbons gave them credit to sell their products and it hasn't been paid for .

Regency closed because the bank withdrew their line-of-credit. Mostly likely, the bank is the one who looses the most here.

hard to say without more information. The Linn's article said that the bank "has taken control of the company's bank accounts" such that Regency can't pay anyone "without prior bank approval." This might mean that the bank is a secured creditor and will be paid before unsecured creditors. It is really hard to say without more information.

Brookman has taken over Regency's literature inventory (which includes but goes beyond Gibbons lit).

Looks like the firm has moved ? More later ,trying to put some fact together before I say something .

Here is what I got -----the firm is moving to State College Pa. into a office plaza complex .
This means I was wrong about a few things I thought they had problems with paying stamp consignors and could have problems paying the APS for those auction lots consign to Regency Auctions by the Society ,that doesn't seem to be the problem .
It now looks like Regency is down sizing , first getting rid of their large office in St. Louis ,getting rid of their retail store and Gibbons retailer for supplies and catalogs .
The big thing is getting out of the memorabilia auction business all the Space ,Hollywood and Third Reich stuff is my guess is what dragged the firm down . As I said earlier they had a decent stamp section of the business and everything else was a dog and help put the owners under stress .
GOOD LUCK to their future in the stamp business and what ever direction that takes ,I hope they continue to do auctions ,maybe at the APS complex would be nice .

Brookman, a.k.a. Michael Jaffe, had quite a selection of literature for sale at PIPEX last weekend.

Where are you getting this?? Not accurate from what I have heard.

If something like that were true, I would suspect someone bought the name and the customer list.

Their own website says Regency is closed, forever.

OK ,you guys are right . I am wrong .......can one of you posters go to mapquest.com or the yellowpages.com and tell me who is at REGENCY STAMPS LTD. at 100 Oakwood ave . in State College Pa. with the ......wait for this ........ with the same phone number as the St. Louis office .

my first thought is maybe they had an agent there in PA, although no idea why the phone would go back to St L isntead of there in PA

I would have assumed it was an agent as well.

It's too easy to forward phone calls automatically now. Not necessary to change the phone number at all.