Gross Multiples Demonstrate Strength And Diversity Of The Rare Stamp Market

I have to admit, despite all of the marketing and pre-sale build-up, Bill Gross's multiples prices realized today defied my wildest expectations. Yes, the major rarities were mostly in-line with pre-sale estimates. The next tier however astounded me. These were the lots valued at several hundred to several thousand dollars. In many cases, these stamps sold for multiples of Scott catalog, often doubling or tripling Siegel high estimates. I know that marquis collections are not, in and of themselves, market indicators. But, my takeaway after today, is that the rare stamp market is VERY healthy. I certainly feel better about my personal stake, and I would think most other U.S. collectors would concur. I would love to hear others' observations about this sale, and opinions about the overall state of the market and hobby, in general.

Despite my huge interest in this auction, I unfortunately missed the livestream and the live results due to some work commitments. However I agree with what you're saying- In a lot of ways it feels like this auction was a much needed boost in high earning philatelic auctions. I'm glad it went down now, instead of years from now, so people like myself can use it as a very, very big gauge for the "health" of the hobby.

Then again, I'm still learning the ropes in philately, and one auction is not the harbinger for all future auctions. The long and the short of it though? It gives me a lot of hope and a good feeling inside about where we may be headed in the future.

This was a great sale. Gross should be happy. Scott Trepel and the Siegel organization should be happy. I mean even the caboose lot printed at around 50% of Scott... which given its quality and other realizations is a bargain. Lots of rare material in one place. One wow after another. The catalog itself is a work of art.

Bottom line... great sale with great material.... Let's hope that ALL of these multiples stay together.

In what sense is the sale of a rich man's collection of anything to other rich men and women indicative of the "health" of a hobby? There may well be a view amongst these people that investing in high-end stamps is worthwhile. That doesn't say much about the practice of collecting chiefly cheap-and-cheerful stamps for fun.

It's not a catch-all for everything - and OP wasn't saying it was. No one thing can measure the 'health' of anything - especially a hobby. But a pretty good indicator...

I thought results were shockingly good, especially since multiples are perhaps not the "in" thing anymore with high end stamp investors. (Graded single stamps seem to rule)

Even plate block balance lot at end sold for phenomenal price as most of that is generic cheaper stuff that could be found in many plate block collections (not just of super rich). Don't get me wrong... it's an awesome plate block collection but not sure 40 grand worth.

I'd say it reflects a strong US economy and high confidence.
Don

Not unlike any other areas. The market for Picasso's and Van Goghs, et al speaks nothing to the thousands of artists trying to sell artwork, only something to other fine artist buyers/sellers.

If you have 100M and can spend 100g on a stamp, thats 1/1000th of your worth. For the typical US homeowner that's probably 1-10th of their worth. There is non corollary here. The latter are not selling their house to buy a banknote PB.

Regarding the hobby health, catalogs values should surely adjust, as they don't use mean, median, mode or even a supportable baseline, but rather top end material, where implied percentages are used to price everything else that doesn't meet these rarity specs.

Higher cat values won't end up changing your "normal folk stamps", because your percentage will be smaller. Instead of getting 20% cat, you'll start getting 15% cat and but complain more.

I think Don hit the nail on the head. What it boils down to, in my opinion, is that people are continuing to purchase expensive stamps, and that the interest is there regardless of price.

I think it would be a good indicator for the health of the hobby if the millionaires would not only invest in stamps but also in supporting stamp research or stamps organizations, both would probably happy about the money. This shows somewhat if there is interest mostly in investment or in the hobby.

i'd disagree. The spending habits of the 1% are largely independent of the general economy. Their spend on yachts,art and stamp rarities, will happen in good times and bad. Celebs don't stop getting bottle service in a club during a recession.

The following scenarios are more likely:
Perhaps their perception is all the other asset classes are over-inflated, and stamps diversify their risk.
This is a rare opportunity to buy rarities of the highest caliber. Buying the best of the best, museum quality goods, is a better investment plan, than buying the just "really good stuff".
If the auction houses give the ability to resell material bought on them at a discount, then the premiums can be lowered dramatically. Guessing gross took advantage of this.
Charitable donations of stamps may have even more favorable tax and estate advantages, based on prices obtained (ie via treaty, privately, etc) vs realized. (ie the inclusion/exclusion of premiums,taxes,etc)
Well funded dealers can buy to service high end clients.

Stamperix.... When younger, installed monitoring equipment etc for financially affluent collectors, some 'generally' preferred a few albums of unusual, rare or error stamps over a room full of stamps found in many collections.

Indeed, tying the quarterly results at Nine West to the most recent Met Gala seems a stretch.

https://www.vogue.com/tag/event/met-gala

Cheers,

/s/ ikeyPikey (who is also not sure what the price of yachts has to do with the number of fishing licenses, kayak rentals, air boat tours of the Everglades, river boat tours of the Danube, or Sunday afternoon hot dogs sold at Coney Island)

'Luxury indexes' disagree with your opinion
https://savignypartners.com/savigny-luxury-index/

Don

Speaking of Coney Island fast-food, did you squire Katy Perry to the Meta Gala, ikey?