Us Postage Stamp Auctions Reach Record Heights

A single US postage stamp sold for a staggering $9.8 million at a recent auction, shattering previous records.

The stamp, a 1918 Inverted Jenny, is a rare error stamp that features a biplane flying upside down.

This remarkable sale marks a new high for US postage stamp auctions, with many experts predicting continued growth in the market.

The Inverted Jenny is just one of many rare and valuable stamps that have been sold at auction in recent years, with some selling for millions of dollars.

The rarity and condition of the stamp are key factors in determining its value, with even slight imperfections significantly impacting its worth.

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The Bill Gross Collection of United States Stamps Complete sold for $19,201,550 at auction in New York City, making it the highest-grossing single auction session in philatelic history.

The collection was put together by William H. Gross, also known as the "Bond King", and is considered the most complete and significant collection of American postage stamps ever assembled.

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The top 100 lots were sold on Friday night at the Lotte Palace Hotel in Midtown Manhattan, bringing in $18,120,847.

There were over 370 registered bidders and 100 unique buyers, with a 100% sell-through rate on all 317 lots in the auction.

The One-Cent "Z" Grill, a rare and valuable stamp, sold for $4,366,000, more than doubling the record for the most valuable United States postage stamp set by Siegel Auctions last year.

This extraordinary sale took nearly three and a half hours to sell only 100 lots, showing just how deep the market is for rare stamps.

The One-Cent "Z" Grill has long been recognized as America's most elusive and most valuable postage stamp, with only two examples in existence.

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The 1868 One-cent 'Z' Grill is a rare stamp that's expected to fetch $5 million at auction.

This stamp is part of the William H. Gross Collection, which is being sold by Siegel Auction Galleries.

The collection's top 100 stamps will be auctioned off on June 14 at the Lotte New York Palace Hotel.

The 1868 One-cent 'Z' Grill is the star of the show, returning to the auction block for the first time in 26 years.

It's one of only two copies known to survive, with the other being donated to The New York Public Library in 1925.

William H. Gross built his collection over decades, and it's considered the most significant and valuable collection of United States stamps formed in the past half century.

Gross is a well-known philatelist who co-founded PIMCO in 1971, and he's been selling his stamp collections since 2007.

So far, he's raised over $24 million for charity through Siegel Auctions.