Unique stamp artwork and rare stamp proofs from Gibraltar to be auctioned this autumn 
(02/09/2009)
Proofs are the prototype of stamp designs produced by the security printer for client approval. That means they are extremely rare, with some worth up to tens of thousands of pounds each.
A complete 14 year official archive of unique stamp artwork and rare stamp proofs from Gibraltar is to be auctioned by a UK company this autumn. The proofs of most stamps produced by the island between 1995 and 2009 will be split into individual lots and auctioned to collectors and dealers worldwide in a special catalogue auction.
The auction, valued at £495,000, is being conducted by the British company Universal Philatelic Auctions (UPA), on behalf of Gibraltar Philatelic Bureau Ltd (GPBL).
Official archives such as these are usually offered through major Swiss-type auction houses, which charge a significant premium to buyers. But this archive will be sold by catalogue auction without extra premiums to individual collectors.
UPA’s Andrew McGavin said: “This is the most collector-friendly way of disposing of this unique collection. Gibraltar Philatelic Bureau Ltd has gone out of its way to make sure that it is individual collectors who will be able to buy these valuable proofs, rather than just dealers with deeper pockets.
“Buying a proof for £200 at a Swiss-type auction could cost you another £65 for delivery, import VAT and buyer’s premium. Purchasing a similar £200 lot through a Universal Philatelic Auction would cost only £4 for delivery, with free insurance.”
Universal Philatelic Auctions buys private collections and usually sells them in four 12,000+ lot catalogue auctions a year.
This is their first specialist £495,000 auction for a unique collection. An archive like this usually goes on sale just once in a generation.
The company has a unique reducing estimate model that automatically finds the market value of every stamp. If a lot isn’t sold it is automatically relisted in the next auction at a reduced price. This continues until the correct price for the stamp is found by the market and it sells.
The special edition catalogue for the Gibraltar proofs is being prepared now, and is destined to become a collector’s reference in its own right. The first 4,000 copies of the catalogue are free to collectors.
The auction is scheduled to close on Tuesday 27th October 2009.
Related categories: Invest in Stamps
