In Search Of A Blackjack, But Market Unbelievably Great!

3750$

4250$

22,000$

6750$

4000$

5000$



I tried last day to pick up a well centered blackjack in Faust collection to add to my used classic collection. I wasn't even close to winning at Siegel. Prices, as others have noted recently, have swelled in last 6-12 months for quality stuff. I even did my research, looking at average prices last 5-10 years for used Blackjacks that grade in the VF/XF/Superb range. I noted that most that would grade 90, have sold for 300-700$ range. Grade 95+ definitely more like 1500-2700$. I was hoping my 600 bucks would take me home a beauty that I would classify as vf/xf or xf. I wasn't even close

Wow!

I bid on second stamp above like 700$.. I was embarrassed. I thought centering was VF/XF. Maybe grade an 85, at best 90 at PSE. How times have changed just in last 12 months?. I considered centering to be XF.

Also, many of the stamps above don't even have certificates! Just unbelievable prices if you ask me for a common stamp. True, they are rare with such wonderful centering and cancels, but rare... I would say rare is not a term I would use for a used Scott 73, although the fancy colored cancels with nice centering, are less common and rare to some extent?

That is an amazing sale. The best black jack sale I can ever remember. Probably the best ever.

At events like this, that's when a new collector or collectors of Black Jacks will show up and buy as much as they can.

Additionally, a sale like this slices through all segments of specialization, so many different people will bid in different parts of the sale. There are essays & proofs, single stamps, blocks, western material...the foreign mail section is ridiculous.

Keep your sale catalog - it will be the definitive reference.

Looking closer at the stamps you posted, I've noticed that when it comes to cancellations -- in particular fancy cancels -- that for great fancys, people seem to lose all concept of price.

Great material often gets great prices -- but fancy cancels ... those are almost in their own category, I've noticed.

I had one great fancy cancel on a 1c 1851 stamp on cover in my former collection. I sold it for 18 times what I paid for it. That's: 'times'.

I agree with you txstamp that fancy cancellations are definitely a hot segment of the US stamp market.
Perhaps I'm naive when it comes to this area of specialization.

I guess I'll have to wait for another auction to find my XF or VF/XF Blackjack.

It seems that high end collectibles are booming at the auction, artwork in particular. Stamps appear to be following suit.

One could argue that you are just sane.

Condition rarity is a force to be reckoned with, with or without a cert, although buyers who pay a big premium will seek a cert where none already exists.

Also, don' forget that pedigree/provenance can motivate high end buyers. It matters who once owned it.

Finally, you are looking today at a market in a healthy economy, i.e. more people have paychecks, and fatter paychecks than a few years ago. When people have money the competition for collectables can get to be over the top. This is the time to be a seller, not a buyer.

Well said essayk. All good points! Provenance generally adds significant value to a stamp.
Economy is full throttle, especially for upper class. Hopefully it lasts a decade! (But doubtful) Unfortunately at these prices my auction wins have gone way down.

Those prices realised are quite amazing! I've saved a PDF copy of the auction catalogue for my files.

Exceptional stamps bring exceptional money. Combine that with this being one of the greatest 1861 issue single stamp collections ever assembled and I'm not surprised at all.

I'm thankful I was able to obtain two covers that I wanted but I paid dearly.

Well done Bill. Sometimes you just have to bite the bullet!

Those prices were specifically for the fancy cancels; each is likely the finest example known. That said, I thought $22,000 was insane. I suppose if one is worth 8 or 9 figures it isn't a problem.........

... which is how Jeff Koons make his money.

This one on e bay 44$..ok off center; but the perforation looks right?

My interpretation of the above is that we are witnessing a feeding frenzy and a spillover and extrapolation from the Wingate and Gross sales. Yes these are beautiful stamps. Yes, a lot of stamps had to be looked at to come up with these gems. However, given the number of Scott 73 printed, it should not be difficult to find a used Scott 73 that maybe won't be able to stand toe to toe withers beauties but should be able to satisfy the majority of collectors. It is simply a numbers game: the number of stamps printed and used as postage vastly outnumbers the number of collectors. Keep searching and you are likely to eventually find what you were looking for.

Except that fancy cancels were only used in a specific location for a specific time, which was always short since they usually wore out quickly. So the overall quantity of #73 is immaterial in relation to them.

Great discussion. Certainly beautiful stamps.

It is all up to each collector. If there's 3 rich guys who all want these, then you see results like this. I would buy lots & lots of stamps for $22,000 before ever even considering that one.

Personally, I collect stamps - not cancels. (fancy or otherwise!) While cancels and postmarks are certainly interesting & add to my collection/collecting interests occasionally, I would not pay much of a premium for them, if anything. Clearly there are collectors out there who are willing to pay steep premiums!

There were equally attractive stamps in the auction that sold for less than $700. I agree with earlier comments - keep looking & you'll likely find something that suits you for far less, with enough money to get the next item on your list.

More interesting - look at the estimates that Siegel put on some of these - some were less than $100!

I would be very curious to learn how many different people purchased all the items. My sense is that it is a very small number of very wealthy collectors who were all looking to amass that 'future' Siegel noteworthy sale. Money is obviously not the barrier here - it's prestige of the finest items etc which leads to some crazy bidding.

But overall, these results are a very good thing for the hobby in general...