Auction Exceeds Expectations, Realising Sales of 12,2 Million Swiss Francs – World Record Price
Peak prices for top rarities: The stamp and coin auction conducted by Rapp Auction House in Wil (Switzerland) came to a close in the late evening on Thursday, 27 November 2014, posting total sales of 12,2 million Swiss francs*. For a cover with the Swiss cult stamp «Basle Dove» even a world record price was paid.
Despite – or perhaps because of – economic and political uncertainties, the results far exceeded expectations. The auction results reflect the niche investment market for stamps and coins, said Marianne Rapp Ohmann, managing director at Rapp Auction House: “Demand is great, but supply cannot keep up. More and more collectors and investors are discovering valuable material assets as investment alternatives in these times of economic and currency crises.”
Stamps for more than 8 millions
Following the first day of the auction, when coins and medals were the exclusive focus of activities, auctioneers moved on to the sale of stamps on the next two days. The coin auction posted sales of almost 4 million Swiss francs. Revenues from the sale of stamps shot up to more than 8 million Swiss francs*. The highlight of the coin auction was the sale of the Rheingold collection and its approximately 2,500 gold coins, which were alone worth 1,6 million francs* – according to Rapp Ohmann, “a stroke of luck for numismatics.” Some of the bids for a number of significant stamp rarities from the Soviet Union during the period from 1921 to 1983 reached dizzying heights; revenues from the sale of these stamp rarities reached almost 150,000 Swiss francs*. A collection with stamps and covers from all over the world surprised with a selling price of 140,000 Swiss francs* towards the end of the auction. But the highest price during the auction was reached by a pair of the Swiss cult stamp “Basle Dove”, which sold for 109,800 Swiss francs*. A world record price of 103,700 Swiss francs* was payed for a cover with a “Basle Dove”.
Globality on the rise
The market for stamps and coins as assets for collection and investment is becoming more and more global as it develops, noted Rapp Ohmann. This became evident this year when Americans, Russians, Chinese and Europeans joined in genuine “intercontinental bidding battles”. A number of investors invested amounts in the high six figures at this auction alone.
*Hammer price plus premium, excluding VAT