WIL, Switzerland--(BUSINESS WIRE)--There is no recession in rare stamps and coins. A few thousand of the rarest and finest items came under the hammer at the Rapp auction house in Wil (www.rapp-auktionen.com) from 22 to 24 November, fetching a total of 12.6 million Swiss francs*.
Coins and medals changed hands for more than 2.8 million Swiss francs*, while sales of stamps totalled 9.8 million francs*. Hence the auction sale proceeds totalled 12.6 million francs*, far exceeding forecasts of around 11 million francs*.
Some prices exorbitant
Several valuable collections achieved record prices. The Alster collection fetched 600,960 Swiss francs* for its exceptional coverage of the German Reich, other German territories and various European states. The Filisur collection, largely of items from Switzerland and Germany, was sold for 378,840 francs*. The Meerbusch collection reached 271,800 francs*, while the Odenwald collection yielded 171,600 francs*. Auctioneer Peter Rapp thinks the current uncertainties on the currency front and on the financial markets induced collectors and investors to pay top prices with stamps from Hungary, Russia, Poland or China especially in mind.
Globalised market
During the auction itself, it became increasingly clear that one China collection was going to top the bidding. It had been published in the catalogue at a start price of 3000 Swiss francs, but ultimately netted proceeds of 138,000 francs*. Another coveted item was a block of four postage stamps depicting a monkey on a red background. The stamp was issued to mark the Chinese year of the monkey, 1980. Commercial Manager Marianne Rapp Ohmann explains that many Chinese buyers view their country’s commemoratives, such as these, as an investment. The outcome of the bidding also reflects the progressive globalisation of the stamp market, she feels.
The appeal of the Salzburgerland collection proved almost irresistible to some bidders. Someone finally paid 88,800 Swiss francs* for two albums. Peter Rapp points out that a further six volumes, of inestimable value, are considered lost and are keeping the philatelic world on tenterhooks.
* Price of successful bid plus mark-up; exclusive of VAT