Someone suggested that an envelope with an 1869 stamp known as “Beer Mug” would be perfect for Brett Kavanaugh, the embattled Supreme Court nominee who acknowledged youthful affinity for the beverage. It fetched $10,030, doubling the high estimate.
When the hammer fell at $37,500 on an envelope stamped with an image of an elephant, another person remarked, “You can buy a real elephant for that much.”
Were the stamps a good investment for Gross? Many did well if you compare hammer prices, said Charles Shreve, who advised him over the years. An 1864 presidential campaign card signed by Abraham Lincoln that fetched $10,000 in 1995 went for $55,000.
Inverted Centers
A block of 20 Pan-American stamps with inverted centers fetched $472,000, doubling from 1994, Shreve said.
Not all lots were successes. A cover featuring a strip of five 5-cent stamps from 1847 and an 1851 3-cent “Beaver" stamp was among those failing to draw bids. It was estimated at $600,000 to $800,000.
Eubanks snatched a unique 1847 envelope with 5-cent and 10-cent stamps addressed to Belgium for $224,200, below the low estimate of $300,000. “Wow,” he said after the hammer fell, then fist-bumped his neighbor.
“A few years from now, these prices will look like bargains,” Shreve said.
The proceeds from the auction will benefit Doctors Without Borders and the New York Times Neediest Cases Fund, the auction house said.
This article was provided by Bloomberg News.