1¢ Magenta
So have yuns been following the 1¢ Magenta since it sold?
I got an email today that says the new owner will be offering 'shares' of it for £200 apiece.
I find it tempting
I got an email today that says the new owner will be offering 'shares' of it for £200 apiece.
I find it tempting
Comments
I thought it was a mistake to sell it through Sotheby's actually. They are not a house known for such material. In my view, they didn't market it to the right buyers, and as a result, the price slipped. Will it go up or down next... good question.
I agree the stamp is not aesthetically pleasing, but still it's one of a kind.
I dont look at it so much as an investment, but just capital preservation. I doubt its value would ever go to zero, and probably not lower than 150
S--t, as they say, happens. Then the value drops to $0.
But what do I know.
Much of what drives this stamp's value aside from it being an (ugly-looking) one-of-a-kind is its provenance.
One to say... "Yeah, I own a piece of that"
The second in case the Game Stop crowd or the Hunt Brothers try to corner the market.
That was a fun auction actually. Some funny stuff happened there.
@Kris Weinschenker sure, they have it insured, but all that will get you is (at best) your money back. The stamp value does fall to $0...
Kris, Scott doesn't want you to buy a fractional ownership because he's trying to get a majority share and take possession of the stamp! Just kidding, you could lose some money but most likely the partial ownership increases slightly in value
over time. But if you were hoping for a Gamestop increase in value they went from like a market cap of 1 billion to 15
billion in a year well that ain't happening. My take is fractional ownership is a gimmick, but if it makes a collector feel closer to a famous stamp they could never possess it serves its purpose.
But while you're here, I've got individual square inches of Tannu Tuva for sale. Just $25 each!