Stamp market commentary
Report No. 5 - 6 April, 2000
Eastern Auctions Ltd. 19 January, 2000 Mail Auction - WOW!!!
It could be our imagination, but this auction house seems to be putting more valuable material into its mail auctions these days. The 19 January, 2000 was a prime example as a good number of rare and valuable stamps were included.
A rare Canadian die proof set of Scott No. 276, the 4¢ Royal Wedding issue of 1948, sold for $430.00. A 6¢ Maple Leaf (Scott No. 71, cat. $150) sold for $145.00. This is a better price that those realised for VF NH material offered a three public auctions over the past two years. A 5¢ Numeral (Scott No. 79, cat. $300) sold for $380.00. This price was better than that realised at three public auctions during the past year alone. A 7¢ Numeral (Scott No. 81, cat. $160) sold for $315.00. That is the best price we've recorder for this stamp since 1988. A 5¢ Edward VII (Scott No. 91, cat. $180) sold for $385.00. That is the best price we've seen since a Maresch public auction in 1996.
We also noted three new imperforate varieties, two of which are unlisted in Scott. The 2¢ Prickly Porcupine imperforate pair (Scott No. 1156 of 1987) sold for $600.00. The 45¢ Greetings booklet pane imperforate (Scott 1600-1601 of 1996) sold for $360.00. Finally, part of a 46¢ Flag Definitive imperforate pair (Scott 1705 of 1997) sold for $38.00. To cap it all off, the very rare 49¢ Delicious Apple imperf. pair variety with the 86¢ denomination (Scott No. 1362) sold for $2010.00.
Something important is happening here. It takes a certain amount of courage to put this type of rare and valuable material in a mail auction. Why would anybody want to do it? Probably the most obvious answer is that Eastern Auctions holds a good number of mail auctions each year, but only the occasional public auction. In June, 1999, Eastern held a public auction with the next being held in January, 2000, over seven months later. This change in trend would indicate that the public is looking carefully at the prices realised at Eastern's mail auctions as this auction house is getting good market prices for the investment quality stamps being offered.
Is this good or bad? In our mind this is a good development. It adds breadth to the Canadian Stamp market that has been sorely lacking. The faster one can buy or sell one's stamps, the better the market. The greater certainty that an appropriate price will be realised, the better the market. Granted, this is only one sale, but it is a strong step in the right direction. This single event alone would not have merited our attention. However, we see it as an indication of a developing trend. Eastern has previously had similar mail auctions.
We hope they will continue.
We would welcome your comments on this and any other matter relating to Stamps in Canada.
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