To recap, LIFE describes the two entries on Page 85 as,
- The face and the back of a $100,000 stamp, and
- Stamps on $75,000 envelope … issued in 1847 by Postmaster of British island of Mauritius.
LIFE valued it at $100,000 in 1954, therefore making up 10% of the $1M Stamp Album.
It was last sold on 17th June 2014 for $9,480,000.
To quote Wikipedia,
"Only one copy of the 1c stamp is known to exist. It is in used condition and has been cut in an octagonal shape. A signature, in accordance with Dalton's policy, can be seen on the left hand side, along with a heavy postmark.
It was discovered in 1873 by a 12-year-old Scottish schoolboy, Louis Vernon Vaughan, in the Guyanese county of Demerara (whose postmark the stamp bears), amongst his uncle's letters. There was no record of it in his stamp catalogue, so he sold it some weeks later for six shillings to a local collector, N.R. McKinnon.
In 1878 McKinnon's collection was sold to a Liverpool stamp dealer, Thomas Ridpath, for £120.
Shortly afterwards, the same year, Thomas Ridpath sold the 1c to Philipp von Ferrary for about £150.
His massive stamp collection was willed to a Berlin museum but following Ferrary's death in 1917 the entire collection was taken by France as war reparations following the end of World War I.
Arthur Hind bought it during a series of fourteen auctions in 1922 for over $36,000 (reportedly outbidding three kings, including George V); on 6 April 1922, sale 3, lot 295, the stamp sold for 300,000 franc + 17½% tax (@48 frs to £1 = £7,343).
On 30 October 1935 it was offered for sale at Harmer Rooke & Co auction 2704, lot 26, where a bid of £7,500 was received from Percival Loines Pemberton. However the lot was withdrawn and returned to Mrs Scala (formerly Mrs Hind). In 1940, she offered it for private sale through the philately department of Macy's department store in New York City. It was purchased for $40,000 by Fred "Poss" Small, an Australian-born engineer from Florida, who had wanted to own the stamp since he first heard about it as a boy. In acquiring it, Small completed a full set of stamps from British Guiana.
In 1970, Small auctioned his entire stamp collection (estimated to be worth $750,000), and the 1c stamp was acquired by a syndicate of Pennsylvanian investors, headed by Irwin Weinberg, who paid $280,000 for it and spent much of the decade exhibiting it in a worldwide tour.
John E. du Pont bought it for $935,000 in 1980, setting the world's record for a single stamp price again. Subsequently it was believed to have been locked in a bank vault while its owner was in prison. Dupont died while still incarcerated on 9 December 2010.
It was sold from the DuPont estate on 17 June 2014 at a Sotheby's New York auction, sale number N09154, for $9,480,000, including buyer's premium. It took only two minutes to sell to an anonymous bidder, and was the fourth time the stamp had broken the world's record for a single-stamp bid; this time, the sale broke the 1996 record of $2,300,000 for the Treskilling Yellow, an 1855 Swedish stamp. The purchaser has since identified himself as shoe designer and businessman Stuart Weitzman who collected stamps as a child."
[Wikipedia accessed 11th October 2016]
It was discovered in 1873 by a 12-year-old Scottish schoolboy, Louis Vernon Vaughan, in the Guyanese county of Demerara (whose postmark the stamp bears), amongst his uncle's letters. There was no record of it in his stamp catalogue, so he sold it some weeks later for six shillings to a local collector, N.R. McKinnon.
In 1878 McKinnon's collection was sold to a Liverpool stamp dealer, Thomas Ridpath, for £120.
Shortly afterwards, the same year, Thomas Ridpath sold the 1c to Philipp von Ferrary for about £150.
His massive stamp collection was willed to a Berlin museum but following Ferrary's death in 1917 the entire collection was taken by France as war reparations following the end of World War I.
Arthur Hind bought it during a series of fourteen auctions in 1922 for over $36,000 (reportedly outbidding three kings, including George V); on 6 April 1922, sale 3, lot 295, the stamp sold for 300,000 franc + 17½% tax (@48 frs to £1 = £7,343).
On 30 October 1935 it was offered for sale at Harmer Rooke & Co auction 2704, lot 26, where a bid of £7,500 was received from Percival Loines Pemberton. However the lot was withdrawn and returned to Mrs Scala (formerly Mrs Hind). In 1940, she offered it for private sale through the philately department of Macy's department store in New York City. It was purchased for $40,000 by Fred "Poss" Small, an Australian-born engineer from Florida, who had wanted to own the stamp since he first heard about it as a boy. In acquiring it, Small completed a full set of stamps from British Guiana.
In 1970, Small auctioned his entire stamp collection (estimated to be worth $750,000), and the 1c stamp was acquired by a syndicate of Pennsylvanian investors, headed by Irwin Weinberg, who paid $280,000 for it and spent much of the decade exhibiting it in a worldwide tour.
John E. du Pont bought it for $935,000 in 1980, setting the world's record for a single stamp price again. Subsequently it was believed to have been locked in a bank vault while its owner was in prison. Dupont died while still incarcerated on 9 December 2010.
It was sold from the DuPont estate on 17 June 2014 at a Sotheby's New York auction, sale number N09154, for $9,480,000, including buyer's premium. It took only two minutes to sell to an anonymous bidder, and was the fourth time the stamp had broken the world's record for a single-stamp bid; this time, the sale broke the 1996 record of $2,300,000 for the Treskilling Yellow, an 1855 Swedish stamp. The purchaser has since identified himself as shoe designer and businessman Stuart Weitzman who collected stamps as a child."
[Wikipedia accessed 11th October 2016]
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