Just a few minutes after the auction commenced, the renowned US 1918 24¢ airmail stamp, also known as the Jenny Invert - most famous U.S. error stamp (Scott C3a), was successfully sold at the Robert A. Siegel Auction, fetching slightly over $2 mln.
This exceptional stamp was originally acquired in Washington, D.C. for its face value of only $24, in pristine mint condition with no hinge marks.
The Siegel experts reserved a remarkable piece for the grand finale. The Jenny Invert, hailing from the illustrious Nathanael Greene collection of outstanding US stamps, was presented at the auction as an individual lot.
To commence the bidding, Scott Trepel, the president of Siegel Auction Galleries, reminded participants of the terms and regulations associated with the stamp. He noted that, in 2018, when it had its last sale, it was acquired for $1,593,000 by an anonymous owner.
After the necessary formalities completion, Trepel initiated the bidding just after 4:30 p.m. Eastern Time, commencing at a starting price of $1.2 million. The competitive presence of bidders both in the room and remotely intensified the fervor, rapidly driving the price up to $1.25 million and subsequently to $1.3 million.
The bidding continued to escalate as the amount hovered at $1.35 million, repeatedly echoed before the "fair warning" statement, indicating that the hammer was about to fall. Within moments, Siegel received a bid of $1.4 mln.
The bidding then proceeded:
- $1,500,000
- $1,550,000
- $1,600,000
- $1,650,000
Suddenly, a bidder came forward and announced a bid of $1.7 million. With no further bids, the stamp was sold to an anonymous buyer. The final hammer price reached a staggering $2,006,000, including Siegel's 18% buyer's premium.
This remarkable amount makes it the highest ever paid for a single US stamp. As the buyer later revealed, acquiring the Jenny Invert for his collection was a cherished childhood dream.
Source: linns.com
Photo: David Fritz
