Press Release: The New Amsterdam Collection of United States Stamps realizes close to $7 Million in Cherrystone Auction

A New York City based auction house specializing in Rare Stamps and Postal History of the World, sold the New Amsterdam Collection of United States Stamps for close to $7 Million on 10th July 2019.

by CDN Publishing l Published on July 15, 2019

New York – Cherrystone Auctions, a New York City based auction house specializing in Rare Stamps and Postal History of the World, sold the New Amsterdam Collection of United States Stamps for close to $7 Million on 10th July 2019. Hundreds of floor and internet bidders competed for just 220 lots at auction which took almost four hours to complete. With the final hammer, the New Amsterdam Collection took its rightful place among the most valuable stamp collections in philatelic history.

The New Amsterdam Collection was formed over fifty years ago, its mission to complete spaces in a newly acquired Scott National Postage Album. Most of the material was acquired through Dumont Stamp Company, an old established and respected dealership which was in midtown Manhattan in the 1970s.

Competition was intense, especially for the top items. The absolute highlights of the auction were the two 1867 “Z” Grills, each with a pre-sale estimate of $750,000.  The 10c green (Washington) fetched $1,150,000 and 15c gray black (Lincoln) $1,610,000, the latter setting a record for a single United States stamp sold at auction.

Additional rare Grills realized $661,250 for a 3c “B” Grill and $172,500 for a 30c “A” Grill. Other noteworthy results include $287,500 for 1869 30c Pictorial with Inverted flags and $402,500 for 24c Inverted Jenny. A rare 2c coil pair estimated at $300,000 was hammered down at $805,000.  All results include Cherrystone’s 15% buyer’s premium.

The next Cherrystone Auction featuring Rare Stamps and Postal History of the World will be held on 6-7 August 2019.

For a complete list of prices realized and all future sales, please visit www.cherrystoneauctions.com.

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Source: CDN Publishing

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