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May 1, 2015

The British Guiana One-Cent Black on Magenta Estimate $10,000,000 — $20,000,000. SOLD. $9,480,000


After Vaughan accepted his offer of six shillings ($1.44), McKinnon is supposed to have given him this observation with the money, “Now look here, my lad, I am taking a great risk in paying so much for this stamp and I hope you will appreciate my generosity.”
1980–2014: John du Pont After just a decade’s absence from the sales room, the One-Cent Magenta again appeared at a Siegel auction, 5 April 1980. As an investment, the stamp proved successful: it was sold to an anonymous bidder for $935,000. The buyer was in the room, but had left bidding instructions with the auctioneer prior to the sale, so he was able to watch the auction without drawing attention to himself.
Although the owner of the stamp was there identified by the pseudonym Rae Mader, it was shortly revealed the owner was actually John du Pont, heir to the eponymous chemical company fortune, eccentric amateur sportsman, and omnivorous collector. Du Pont exhibited the stamp for the last time at CUP-PEX 87 in Perth. The One-Cent was returned from Australia on a Sunday, when there was no access to the bank vault that usually housed the stamp. And on that night—but only that one night— du Pont slept with the stamp under his pillow.The British Guiana 1-Cent Magenta Stamp | Sotheby's

Posted by gerardvanderleun at May 1, 2015 9:03 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

So, this is about a stamp? A nine million dollar stamp? A fool and his money are soon parted, and you can't even use this stamp, mail a letter.

Whenever my uncle Letsgo Lozko bought bantam chickens he reasoned it was a good investment. If the hen didn't lay there was always the stewpot.

Posted by: chasmatic [TypeKey Profile Page] at May 2, 2015 2:21 AM

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