The Magenta Arrives At Stanley Gibbons

The "Magenta". Is that a new word for this stamp? Sort of a lousy title if you ever care to search for it again!


Peter

Since that's the title of the video and what SG calls it (admittedly sans the '1c'), it seemed to me to be a reasonable title to pass on. However, please accept my most humble apologies for the egregious error I clearly made in the title while trying to share something to the MB.

[lame humor]
This one is for bottom feeders now, since the Mauritius Ball cover recently got almost $12,000,000.
[/lame humor]



John

p.s. Thanks for posting the video!

Thanks for posting. No-one in the stamp collecting world would be in any doubt about what "the Magenta" referred to.

Apology neither requested nor required.
Thanks for posting the video.

Just saw Gibbons' ad in the newest American Philatelist about their selling "shares" in this stamp, the latest hairbrained get-rich scheme of theirs.

"I'll take a tiny piece at the upper right corner. Please cut it carefully."

Gibbons can eff ALL the way off. Shysters.

I may buy a tiny bit of the lower left corner with some play money and include it in my kids' inheritance, just to get an inside view of how this peculiar scheme will play out.

I'm curious if they declared it at customs and had to pay import duty? Or maybe it was exempt since it is from British Empire?

SG should produce a limited amount of high quality 'gold clad' reproductions accompanied by a signed and numbered certificate of authenticity.
Don

Questions a Co Owner might ask him or herself:

1) Do you I have visiting rights?

2) Can I take it out for a walk?

3) Can I get a monthly fotograph of it, in a touristic setting?

According to their website set up for information SG has stated that fractional owners will have special visiting rights. Fractional ownership appears to me to be set up as a investment rather than forever ownership. I.e. SG has stated they will vett all offers and ownership will vote according to their shares on acceptance. Ownership will share in any profits generated by sale according to shares owned. Shares themselves will be transferable, etc. I would think SG can monetize the Magenta to the extent of profitable return, but we will see.

SG is taking a turn at making an investment out of a hobby it appears.In my opinion.
M
Additional thought, if SG adverises in the WSJ or the Financial Times they will fully monetize this issue. We shall see.

Is there a similar precedent for this type of investment? Such as a Van Gogh painting? Volatility, but potential for significant profit.

If the "Magenta" goes on tour, and brings in income, might there be dividends?

Having just read SG last published company report I am left scratching my head as to why and how they purchased the "Magenta".

https://www.stanleygibbonsplc.com/w...-Gibbons.pdf

From their website:

Stanley Gibbons' purchase will be financed through an interest-free loan from Phoenix S.G. Ltd, the firm's majority shareholder.

Details of the Loan Facility



The material elements of the new loan facility between Stanley Gibbons Limited, a wholly owned subsidiary of the Group, and our majority shareholder are:



-Interest free with 50% of any profit made on the sale of the item due to PSG.

-Secured solely against the item with no further recourse to any group companies.

-An initial 5-year term, which can be extended by agreement between the parties.

-If the item is unsold at maturity, the loan can be settled through return of the item to PSG.

-If the item is sold for less than the outstanding value of the loan, the net proceeds of the sale will be deemed to be sufficient consideration to satisfy the loan obligation in full.

-Sale of the item requires PSG approval.

This smells dirty. So they want to sell shares of something for joint ownership but retain a 50% profit for themselves. Who is setting the price per share and guaranteeing not more than half of it is put on the float? Profit and ownership need to be parsed. I can't see how an individual could make any money here.

Best idea: Shareholders should vote and donate it to the crown collection and value it 3X and be done with it and take a deduction.