A uncommon ‘Inverted Jenny’ stamp just lately offered at public sale for simply over $2 million with charges, setting a document for a single US stamp.
The hammer value for the purple, white and blue stamp was $1.7 million. The public sale was carried out by Robert A. Siegel Public sale Galleries on November 8.
“This can be a historic second for the pastime,” president Scott Trepel stated in an announcement emailed to ARTnews. “The Inverted Jenny we offered in the present day is the perfect instance of the 100 stamps from the sheet. We now have tracked every of the stamps and are sure no different instance compares to this one. For the collector, it merely doesn’t get higher than this and the sale value of over $2 million displays that truth.”
The 24-cent stamp was a part of a uncommon sheet of 100 offered to a collector for $24 in 1918. The was an error made by the Bureau of Engraving and Printing within the rush to print the design commemorating the world’s first recurrently scheduled airmail route. All the opposite sheets with the picture error had been destroyed. It has turn out to be one of the crucial well-known stamps in American historical past, and was even featured within the season 5 premiere of the Simpsons.
The stamp offered by Siegel Auctions was reviewed by two professional organizations, given a grade of 95 on a scale of 10 to 100 and deemed “Mint By no means-Hinged”—in the identical situation as when it was offered 105 years in the past.
Previous to the record-breaking sale, Siegel Auctions offered a number of different examples of the Inverted Jenny stamp, included a block of 4 in 2005 for $2.7 million and one other in “Mint By no means-Hinged” situation in 2018 for $1.35 million. Trepel informed the New York Instances he has dealt with 66 of the stamps, promoting just a few greater than as soon as, and the corporate’s web site additionally options a picture of the stamp in its emblem.
In June 2021, Sotheby’s offered a block of 4 Inverted Jenny stamps for a good greater sum throughout its “Three Treasures” sale of things from shoe designer Stuart Weitzman. The “calmly hinged” group of 4 had an estimate of $5 million to $7 million, and offered for $4.86 million with charges.