News from Spink

Spink Acquires Shreves Philatelic Galleries to Form a Global Leader With Strong Financial Resources to Serve Collectors.

Spink is pleased to announce it has acquired Shreves Philatelic Galleries for an undisclosed amount of cash and shares, valuing the enlarged entity well in excess of US$100 million. Shreves Philatelic Galleries is America’s leading Philatelic Auctioneer, with offices in New York and Dallas. The acquisition will create the world’s largest auctioneer of rare stamps with sales at auction (excluding private treaty sales) in excess of US$50 million in the last twelve months.

After recent successful stamp and banknote auctions, this strategic marriage of firms will create a global leader in the world of collectables. Both Spink and Shreves have a solid reputation for remarkable service, integrity and results which when brought together will create an auction house with top expertise and strong financial resources.

Spink and Shreves have shared great successes over the past 12 months on both sides of the Atlantic. In July 2007 Spink sold a collection of rare American currency in New York City which resulted in a blockbuster sale in the world of paper money.  In June 2007, Shreves sold a portion of the renowned William H. Gross Collection – his Great Britain stamps and postal history – for well over $9 million, the largest grossing single stamp auction ever held in United States history. It was only a matter of time before these two prestigious firms, sharing values, joined forces.  This transaction also provides Spink with the platform to grow its presence in other collectables in the USA.

Commenting on the acquisition, Spink Chairman and CEO, Olivier Stocker, said:

“Our aim is to be the world’s most reputable firm in the collectables business through unparalleled expertise and enthusiastic client service.  I am extremely excited to embark on such an adventure with Charles and Tracy Shreve. It has become evident from discussions with our major collectors that in today’s world one has to be global to answer the needs of its customers. With the leading platforms in Europe and the US, Spink is now best placed for service to the discerning collector. The combination is on paper amazing but, as we do for our clients’ auction properties, we shall focus our minds on executing seamlessly this great opportunity. I would like to thank loyal clients and dedicated staff who have enabled us to make such a move today. ”

The CEO of Shreves, Charles Shreve, said:

“For many years, both Tracy and I have been proud to have created and run one of the most respected stamp auction houses in the world. We have had the privilege of handling the successful sale of many of the most important – and most valuable – collections to have come on the auction market. To continue our growth, especially in an ever increasing global market, we are pleased to join forces with Spink. We cannot think of a better company that shares our same values, and commitment to their clients, than Spink. We look forward to bringing the respected Spink brand to the United States and caring on the same Shreves tradition of outstanding dedication to our clients and their love of collectables.”

Tracy and Charles Shreve will continue to run the US business while incorporating progressively new collectables to the platform. They now have the added benefit of over 700 years of Spink expertise in Coins, Banknotes, Medals, Books on collectables and Musical instruments.

They will become shareholders in Spink and join the International Management Committee where their experience and enthusiasm will further strengthen the team.

Shreves Achievements:

•Lot 53 from the William Gross Collection
Sold on 11th June 2007 by Shreves for $650,000

•Private Treaty sale organized by Charles Shreve with William Gross for the value of $3 million.

Spink Achievements:

•June 2006 - New world record for a British Coin Edward III Double Florin £460,000. This is also the record price for any coin at auction in the U.K.

•CB, CBE Triple DSO, Double DFC Group of 19 to Air Vice-Marshal J E Johnston, RAF
Sold for £241,500

•£345,000 unique unused block of 4 of the 1d Earliest Impression “Post Paid” issued in 1848

•Earliest bank of England note, sold for £55,200

Public Enquiries:  020 7563 4000 – www.spink.com or info@spink.com
Images:  Spink Press Office on 020 7563 4009

About Spink

Spink is the world’s leading auctioneer of coins, stamps, medals and banknotes.  Since its foundation in 1666, the Spink name has become synonymous with tradition, experience and integrity. Holders of three royal warrants and numerous records for prices achieved at auction, Spink offer an unparalleled range of services to collectors worldwide.  Spink is headquartered in London and hold over 35 auctions a year around the globe.  In June 2006 Spink shattered the world record for a British Coin sold at auction with the sale of the Double Leopard Gold Coin for a staggering £460,000.

Spink Live

Launched on the 11th July 2006, Spink is pleased to offer our bespoke bidding service, Spink Live.   This enables you not only to bid real time but to leave an absentee bid in any of our forthcoming auctions; whilst online you can also see and hear the auctioneer through our remarkably user friendly and efficient software.

Since its launch, Spink Live has so far revolutionized the way in which people bid at auction. Spink is thrilled to offer this new platform for our clients so that they may enjoy adding to their collection from the comfort of their homes or anywhere else on the globe they may be.  It is believed to the only service of its kind in the world of collectables.