Bill Gross has a collection of U.S. postage stamps worth $42 million. The first part of it will be auctioned in September by Robert A. Siegel Auction Galleries Inc. in New York. This sale will have its effects on the entire market for Philately. The auction will be conducted in parts over two to three years.
Over $10 million was given by Gross’s family to build the William H. Gross Stamp Gallery, the world’s largest gallery for postage stamps. Gross has always looked for the best. Most of the desired rare stamps are showcased in museums now or are a part of major private collections.
Experts believe that once these rare stamps are auctioned, the market would be opened up and people would get a chance to buy them.
The first part of the sale is expected to fetch over $10 million. All the money would be donated to a charity. 73-year-old Gross is a bond portfolio manager at Janus Henderson Group Plc. He started collecting in 1992 and has donated $27 million through stamp sales. He now believes that these exquisite stamps must be passed on to other collectors.
He built a major part of his collection in 1993 when he bought rare U.S. stamps from a Japanese bank chairman Ryohei Ishikawa at an auction. He bought over $2 million of stamps at the event.
Unique Hand-carved “fancy” cancellations of mid-19th-century American folk art have an estimated value of $5,000-$50,000. A 15-cent 1868 F Grill stamps featuring Abraham Lincoln who was killed three years before has an estimated value of $100,000-$150,000. The only unused block of 5-cent Brick Red 1857 Issue stamps has an estimated value of $200,000-$300,000. The only 1846 Massachusetts stamp featuring George Washington has an estimated value of $300,000-$400,000. An 1851 2-cent stamp issued in Hawaii when it was still a sovereign nation, has an estimated value of $500,000-$750,000. Several other interesting postage stamps will be offered.
Image Courtesy: Robert A. Siegel Auction Galleries