News from Spink

The Peter Jaffé Collection is an extraordinary success
Many world records established for this rarely offered colony

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The Peter Jaffé collection of St. Vincent astonished the large gathering of collectors and dealers at the Spink Galleries at 10.30am on the 2nd March.  Estimates that were considered in line with current market trends were wildly exceeded, as items that had not previously been offered at public auction achieved levels that sometimes exceeded four to five times our assessment.  There is a distinct trend in prices today that does not correlate with realisations that were achieved in the not too distant past.  With anything that is considered rare – for example with less than 10 examples recorded -   one can practically discount estimates, as collectors are competing as though this will be the last chance they may have to own these great classic rarities.   Because of limited space, and bearing in mind that one can study these prices on the internet or from our offices, we shall concentrate on those mint pieces that often created levels that stunned the assembled gathering.

Lots 96 and 97 contained multiples imperforate of the 1d deep rose-red in mint condition.  The first a corner block of 18 (SG1b) was estimated from £1,500 and realised £5,000; the second, a corner block of 9 mint and estimated from £600, realised £3,800.  It should be mentioned that these are remainder items so the prices are somewhat staggering!  Lot 99 was the unique pair of the 6d deep yellow-green, with intermediate perforations (SG2).  Cataloguing at £13,000, it realised without premium no less than £22,000.

Multiples of the 1862 6d deep green, rough perf. 14 to 16 have never been considered the greatest of rarities and there were 4 lots on offer on this occasion.  However, lot 119, a mint multiple of 12, was estimated at £2,000.  Opening at £1,500, it soared to £12,000.  The following lot (120) was also a mint block of 9.  This opened at £950 against an estimate from £1,200 and realised the not inconsiderable sum of £8,000.  However, in this group we had lot 127, 6d deep green in a horizontal strip of 5 with the left hand pair imperforate between, in mint condition.  This piece was wonderfully centred with a deep fresh colour.  Catalogued as SG4/4a  and valued at £5,500, it nevertheless reached no less than £11,000. The following two lots, 128 and 129 were imperforate multiples of the same stamp but of different sizes.  The first, a right corner block of 8, SG 4b and catalogued from £3,800 realised £7,500 and the second, an unused block of 6, realised £3,800!

Lot 153 was the 1d rose-red, a mint corner block of 12 from the 1863/8 issue, perf. 11 to 11½, SG 5 and catalogued at £456 with an estimate from £400.  No less than £1,800 was achieved here!  From the same issue, we had three fine multiples of the 4d deep blue. Lot 162, a mint block of 10 and believed the largest known (SG6), realised £4,500 from a lower estimate of £1,800.  The following lot, 163, a top and bottom marginal mint block of 9, rose from an estimate of £1,500 to no less than £8,500.  The third multiple (lot 164 - one of 8) achieved £3,500 from a low estimate of £1,500.

In the same issue, the 6d deep green in a bottom marginal block of 8 and catalogued from £1,200 (SG7) was estimated at £2,500, but this price was considered far too low and the eventual realisation was £8,500!  Two further lots in this section stunned the gathered audience. Lot 180 was one of two recorded blocks of the 1/- slate grey (SG8).  Catalogued at £9,000, this piece from the Charlton Henry, Amundsen and Cartier collections realised £14,000.  The next lot featured a wonderful bottom marginal mint pair of the 1/- value.  With a catalogue of £4,500 and estimated from £2,000, this reached no less that £7,000.

The 1866 issue, 1/- slate grey, perf. 14 to 16 also provided a remarkable result.  An unused block of 4, SG 9, with large part original gum, was estimated from £1,500 against a catalogue of £1,300.  However, being one of only 4 recorded and with ex. Caspary provenance, it realised no less than £7,500.  Another multiple from this year, 1d rose-red, perf. 11 to
12½  x 14 to 16, a vertical unused pair, SG10, the only recorded and estimated from £2,000 realised £5,500.  Similarly perforated, the 1/- slate-grey, part original gum marginal block of 4, SG11, from the Glossop collection and catalogued at £1,000 realised the staggering sum of £8,500.

The 1869 issue with perforations 11 to 12½ had some rare multiples, which, as usual in this auction, were fervently fought over.  Lots 213 and 214 were multiples of 6 and 4 of the 4d yellow mint.  The first, which is the only recorded (SG12), realised £14,000 and the second, a block of 4 of which only 3 are recorded, £7,500.  The 1/- indigo, SG 13, included lot 223, a top and bottom marginal block of 9 from the Adams collection.  This unique multiple fetched £17,000 from an estimate of £4,000. Finally from this section, there were two superb pieces of the 1/- brown.  Lot 233, a corner mint block of 9, unique ex. Adams, realised £20,000 from a low estimate of £5,000.  Lot 234, this time a mint block of 4 and one of three recorded (SG14), with a catalogue of £1,900 and estimated from £2,000, soared to £10,000.

Lack of space does not allow us to continue with so many other interesting prices but we will finalise this assessment with lot 371, a mint block of 9 of the 1881 ½ d surcharge on the half 6d bright green, SG33a. This extraordinary multiple, one showing "1" with straight top, was estimated from £15,000 but with the provenance from the Charlton Henry, and Amundsen collections, from a starting price of £12,000, it realised no less than £44,000, the highest realisation of the auction.  It hardly needs explaining, but this auction achieved many world records for St. Vincent items and it may be another 20 years before anything comparable is offered again.

As already stated, this appraisal only lists some of the mint multiples.  The prices realised should really be studied to analyse the other fascinating realisations of the used, covers and proofs.  The last 180 lots comprised the largest gathering of Village cancellations to hit the auction block and here the collectors had a wonderful opportunity to add to their studies.  A further offering of St. Vincent will be offered later that was not incorporated in the "Exhibition" collection.