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 Replies: 41 / Views: 3,997 |
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Bedrock Of The Community
12564 Posts |
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I shouldn't like to disappoint you, so please assume distaste on my part for a man who treated his workers like dirt then burnished his posthumous reputation with charitable giving I have read about Carnegie for decades and so am under no illusions regarding him being a perfect human being. I have yet to find a perfect human being and shockingly one's ideology never seems to provide default moral high ground of any type. Pick any historical character and you will find something to rail against if that is your intent. The "bad" is judged to be so with the luxury of a modern perspective which will likely change again as time passes. PS: I highly recommend the biography, Andrew Carnegie by David Nasaw. The NY Times loved the book in 2006. That would probably not be allowed now. LOL |
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Pillar Of The Community
United States
8428 Posts |
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Just for the record, the new top of the stamp market is now a Asian stamp ,see details posted under the "pushing 330,000 "page . |
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Pillar Of The Community
United States
1851 Posts |
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Not true. Stanley Gibbons paid more in 2021 for the British Guiana 1c magenta. The Japan stamp sold for the top price for an Asian stamp, but not highest all-time. |
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Pillar Of The Community
United States
8428 Posts |
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The Stanley-Gibbons deal was not a purchase ,it was a goofy loan deal of shared ownership with a inflated value to the loan .Let's just say a non-public deal. |
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Pillar Of The Community
United States
5460 Posts |
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Before the Stanley Gibbons purchase Stuart Weitzman paid $9.5 million for the 1¢ magenta. |
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Pillar Of The Community
United States
8428 Posts |
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Please tell me again that Stanley-Gibbons purchased that stamp .
Just for the record that company only has a market cap. of 6.83 million Pounds . PLUS--- their accounting firm /auditors have already gave an unqualified opinion expressing doubts that the company can continue as a going concern.
So they are as you claim spending millions on a stamp {the stamp is a non-productive asset } ---yea right ! |
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Pillar Of The Community
United States
2830 Posts |
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Gibbons had to buy it outright, however they did it, before being able to sell ownership shares. They had to outbid someone else by one increment to get the stamp. Regardless of Gibbons future, the stamp was hammered down for $8.3 million. Perhaps less what Stuart Weitzman paid, but still more than the recent sale of the Japanese inverted center stamp. |
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Bedrock Of The Community
12564 Posts |
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The purchase will be financed through an interest free loan from Phoenix S.G. Ltd (PSG), the Company'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. |
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Pillar Of The Community
United States
8428 Posts |
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What a financial mess is STANLEY- GIBBONS . I can't believe anybody would touch this mess . A story of indiscriminated expansion and imprudent investments .
Now they are trying to sell shares {80,000 shares at $121.00 each to the public ,hoping to collect $9,680,000 for something they are agents for, that was purchased at 8,680,000. To me it sounds like they are a selling agent for the stamp and not owners .
Nobody who is reading this would call this a sale of a philatelic nature it is more a "investment in stock shares and stock manipulation for profit" . |
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Pillar Of The Community
United States
4424 Posts |
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From what I read a while back, there is some convoluted ownership scheme regarding who actually purchased it. |
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Al |
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Pillar Of The Community
United States
4302 Posts |
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Nobody who is reading this would call this a sale of a philatelic nature... To put it into American terms, sounds more like a landlord relationship. One owns to item, while paying everyone else to that honor and then others get to say what it is you can or cannot do with what you own. |
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Replies: 41 / Views: 3,997 |
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Posted 06/17/2023 08:05 am
