News from Spink

October Stamp Sales Greatly Exceed Estimates At Spink

Each Sale A Virtual Sell Out With Many Record Relisations

Madagascar – the Frederick Mayer collection contained only 98 lots but was the first of its kind ever to be offered in a single catalogue.  Everything sold for close on twice estimate and two of the highlights were offered as lot 1 and 2.  These were British Consulate Mail dated 1867 and 1870.  The first with the circular strike in black and posted to Mauritius and the second in red to the same Island but with a blue “6d to pay” strike as a due charge.  The realisations of £4.000 and £9.000 were considered handsome.  The total for the sale was a shade over £60.000.

Bechuanaland, Somaliland and Sudan – the John Inglefield-Watson collections immediately followed the Madagascar and was sold in two sessions on the 3rd October.  The 955 lots were a virtual sell out and there were many surprising realisations amongst these unusually complete collections of their type – largely due to the longevity the client spent in acquiring these rarely offered countries.  The final total of over £368.000 was considered to be highly satisfactory.

Lot 1026 was a Die Essay of the 1887 issue of Bechuanaland.  This example of the Keyplate Die 1 in black on glazed card was handpainted in the top tablet and was estimated from £2500, it realised £3.200.
Quite the most valuable item in Bechuanaland was lot 1047 being a set of imprimaturs from the unappropriated dies of 1887 with 11 values on gummed watermarked paper.  This set from the Burrus collection is one of 3 recorded and the low estimate of £12.000 was seriously compromised by a heady realisation of £21.000 !    Lot 1071 – from the 1888 Provisional Surcharge issue was a pair of the “One/Half-Penny” on 3d pale reddish lilac and black from the corner of the sheet with the left hand stamp variety “broken f in Half”.  This rare item with R.P.S certificate (S.G.29a) is catalogued at £6.600 + but soared to £11.000.

Somaliland commenced with a most interesting section of Postal History, however we will proceed to the 1904 issue where there were two sets of Die Proofs with values from the ½ a to 5 r, 14 proofs in black with the Small and Large design heads, lot 1553 struck “Before Hardening” and lot 1554 “After Hardening”.  These sets were estimated from £2.500 and £2.000 but realised £6.000 and £5.800.  Next we proceed to the 1903 O.H.M.S issue.  Lot 1587, the 8a dull mauve, a lower right corner pair with the right hand stamp showing missing stop after “O.H.M.S”. S.G.04c at £2.000, was estimated from £800, however the final price achieved was £2.800.  This merely shows that items of which this is maybe one of 10 existing, often realise way more than the catalogue value.

Sudan completed this three country offering.  Once again an impressive collection of Postal History followed by Postal Issues from 1897 to the 1940s and thence sections devoted to Postage Dues, Official Stamps and Army Service Stamps.  No amazing realisations here but a steady set of realisations that completed a fine offering for our clientele.

The third auction contained an outstanding offering of rare Great Britain stamps and covers, namely the “Victoriana” collection.  The 437 lots were valued at some £600.000 however the final total was close to double at £1.166.000 without premium.  Many extraordinary prices here so we must be selective.  Lot 2024 was an example of the 1840 Mulready envelope, 2d value mailed on the 1st March 1841 to Tobago and rated 1/-.
Considered to be the only example when offered, it was estimated from £12.000 – the market however placed a much higher value on it and the first opening offer was at £32.000.  Much intense bidding followed and the final price of £70.000 stunned those in the room.

The first stamp ever issued was the 1840 1d black.  Lot 2042 had a block of 14 from plate 1b used on a large part entire outer letter sheet from Manchester to London dated 7th August.  This is the largest recorded multiple on cover and although a little defective was estimated from £20.000.  This proved to be well below the perceived market price and the final bid was no less than £125.000 ! 

There were several incredibly rare and unusual pieces in the 1840 issue and two are mentioned here. Lot 2062 was a marginal mint block of 4 of the 1d black from Plate 7 on thin experimental paper.  Of superb appearance and originally from a larger piece sold in the Seymour Sale of 1952, it was estimated from £60.000 but realised a fulsome £100.000.
The 1840 2d blue has always been a scarce item in a multiple.  Lot 2077 was especially noteworthy because it came from plate 2 which is seldom found in a mint block of 4.  This piece was sold last in the “Royle” collection and was originally contained in a block of 8 and sold in 1921.  The estimate of £80.000 was again comfortably exceeded and rose majestically to £135.000.

The Surface Printed issue has some great rarities in the high values. Amongst these, we select a few to confirm the strength of the current market.  Lot 2309 from the 1867/83 issue was a pair of the 5/- pale rose, plate 2, S.G.127, in a mint pair with a few tiny defects.  Well centred and of good colour, it realised £10.000 from a low estimate of £4.000.  Next the 10/- value from the same issue – an imprimatur from the top of the sheet with part inscription. Lot 3211 with original gum, S.G.128 realised £18.000, some £8.000 over the low estimate.  The same stamp, lot 2313 was a used pair of the 10/- greenish grey with Glasgow c.d.s of the 26th July 1882.  Wonderfully centred and of rich colour, this outstanding item realised double low estimate to realise £8.000.  The highlight of the high values however was lot 2323.  Here we had an example of the £1 brown-lilac in remarkably fine condition for this, well centred and rich colour.  S.G.132 is catalogued at £85.000 and this great rarity was offered to the room at £22.000 but rose with considerable competition to £65.000.  Most of the other high values were equally well competed for and a study of the prices realised will surely confirm that the Spink auction house is the place to consign your philatelic treasures.

Thus we conclude this analysis.  Obviously a collection formed from at least 60 years ago is always going to capture the imagination, but what cannot be denied is the comprehensive strength of this market which appears to go forever upwards.  Whether this is totally collector driven is debatable and the presence of investors clearly present, may be exaggerating prices which one hopes is sustainable.