A well-chosen stamp can appreciate in value over the years and generate a significant return on your initial investment. The experts at Gold 4 Cash, a pawn shop that sells diamonds and offers cash for gold in Rochester, NY, explain that stamp collecting is one of the most profitable markets available. In fact, San Francisco billionaire Bill Gross, who auctioned his early Great Britain stamps for $10,506,400, set the the record for one of the most successful stamp auctions in history.
Here are some interesting facts regarding that auction and the man behind it:
- Online Bidding: Over a third of the sales at the auction went to online bidders. Thirteen different bidders purchased online and they bought 107 of the 226 different lots.
- Leading Collector: Collector Bill Gross has a complete collection of 19th century USA stamps. The most famous stamp in his collection is the 1868 1cent Z Grill, and it's the only copy of the stamp that is privately owned. He has won international awards each time he's opened his collection up for exhibits.
- Charity: Gross donated the entire proceeds of the auction to charity. The hammer price of the collection was gifted to Doctors Without Borders, and it was the largest United States donation in the charity's history.
- Profit: Gross purchased the Great Britain stamps for about $2.5 million. They sold for more than four times what he paid for them. Some individual stamps sold for more than 10 times what Gross had paid for them just a few years before. For example, the Lady Louis stamp was sold for $747,500, despite an initial purchase value of about $75,000–$100,000.
Buy or sell stamps, coins, electronics, and sports memorabilia from Gold 4 Cash, a Rochester pawn shop that also offers cash for gold. The company's specialists provide authentic valuations you can trust. Learn more by calling (585) 415-1514, or visit the pawn shop online today.