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Thursday, June 24, 2010

Two Pan-American invert stamps bring $250,000 at Siegel Auction Galleries

The 1c strip and 2c gem central inverts led the way in the World Rarities stamp sale:- At the weekend, Robert A Siegel held their annual World Rarities stamp auction, continuing a tradition which has been running since 1964. A stunning 352 lots were sold, bringing a number of substantial five-figure and even six-figure results.

This year, the auction drew its rare philatelic pieces from a number of great collections:

The Marc Weinberg-Martin Collection of France and Areas, including Maritime Mails, French Colonies and France, The Hall Family Collection of Chile, (which was mounted for exhibit in 1936 and is offered to the market for the first time), the Dr Robert LeBow Collection of Bolivia and the Dr Yamil H Kouri Collection of Cuba Puerto Principe Issues.

Pan-American central invert strip
Pan-American central invert strip of four
Of the single piece lots, the two biggest sellers were both inverts from the Pan-American series, which were found in at least four different post offices around the country. Approximately 600 to 700 are known, including thirteen blocks of four, a block of six and a block of 20, some of which may have been broken into singles.

Of the two lots in the Siegel auction, the first was expected to be one of the top lots: a strip of four green 1c imprints, which has a string of vignette plate letters in black and "1c" denomination imprint - the only known example for the 1c stamp.

Pan American 2c gem stamp
With original gum and fine appearance, the lot sold for almost exactly its estimate at $145,000.

However, it was almost upstaged by a gem quality example of the 2c Pan-American invert. With full original gum, the stamp has been graded at XF-90 by the Professional Stamp Experts.

It is truly exceptional due to its beautifully centring with wide and balanced margins, bright colours and clear impressions of vignette and frame, and smashed its $55,000 listing to be taken home for $105,000.