The British Guiana One-Cent Magenta. UPDATE: IT MADE A WORLD RECORD $9.5 MILLION.
THE rarest and most famous stamp in the world – unseen in public since 1986 – comes up at a dedicated evening sale at Sotheby’s in New York on June 17. The legendary and unique British Guiana One-Cent Magenta is estimated at $10-20 million. This would mark a new world auction record for a stamp.
On offer from the estate of John du Pont, who purchased it in 1980, it has not been seen publicly since 1986 when it was exhibited at the Ameripex ’86 International Stamp Show in Chicago. du Pont, heir to a chemical industry fortune and an avid collector, bought it for $935,000 in 1980. The stamp will travel this spring to locations including London and Hong Kong, before returning to New York for exhibition in Sotheby’s York Avenue galleries beginning 14 June. It was rediscovered by a 12-year-old Scottish boy living in South America in 1873, and from there passing through some of the most important stamp collections ever assembled.
David Redden, Director of Special Projects and Worldwide Chairman of Sotheby’s Books Department, commented: “I have been with Sotheby’s all my working life, but before I knew about the world’s greatest works of art, before I knew about the Mona Lisa or Chartres Cathedral I knew about the British Guiana. For me, as a schoolboy stamp collector, it was a magical object, the very definition of rarity and value, unobtainable rarity and extraordinary value. That schoolboy of long ago would be bemused and astonished to think that he would one day, years later, be temporary guardian of such a world treasure.”
In 1852, British Guiana began receiving regular postage stamps manufactured in England by Waterlow & Sons. But in 1856, a shipment of stamps was delayed, which threatened a disruption of postal service throughout British Guiana. The postmaster turned to the printers of the local Royal Gazette newspaper, and commissioned a contingency supply of postage stamps: the one-cent magenta, a four-cent magenta, and a four-cent blue. The sole-surviving example of the one-cent magenta was first rediscovered not far from where it was initially purchased. In 1873, L. Vernon Vaughan, a 12-year-old Scottish schoolboy living with his family in British Guiana, found the stamp among a group of family papers.
UPDATE: IT SOLD FOR A RECORD BREAKING $9.5 MILLION.