Siegel Has Moved Their NYC Location

Received this email:

Siegel Auction Galleries has moved to a new address on West 38th Street between 5th and 6th Avenues, effective immediately. We now occupy the entire 7th floor in a conveniently located office building with several excellent hotels and restaurants within a one block radius. Amazon's new New York headquarters is slated to open next year just down the block, the Collectors Club of New York is only a block a way and the Philatelic Foundation is about five blocks away.

Please change your contact information:
Siegel Auction Galleries, Inc.
21 West 38th Street, 7th Floor
New York, NY 10018-2246

Our next sale is scheduled for November 16-17. We look forward to serving our clients from our new state-of-the-art facility.

Regards,
Scott Trepel
President

They moved to their previous address not that long ago! Maybe just a couple of years ago. I wonder why. I suspect rents in NYC are INSANELY high and this may be their single greatest expense.

Rents in NYC are always high, but I think this had more to do with space considerations. The difference in rents between where they were and where they moved to are not likely to be all that different. Both would be likely to be significantly different from the 56th st space though.

The new space is about 75% the size of the old space and is not close to the Rock so yeah, it likely means a lower lease rate.

Obviously size matters, but moving 8 blocks down 5th ave in that part of midtown probably means a lot less.

Why the shocked look? Size has always mattered in philately. Nothing is more important to many collectors then the size of the margins.

I believe the move was triggered by the entire building having changed owners.