Bill Gross Sells Stamps Worth $18 Million in New York Auction
It’s the latest in a multi-year sale of the bond billionaire’s collection.
Bond billionaire Bill Gross auctioned 100 stamps worth $18.1 million on Friday, June 14, in New York, marking the penultimate phase of his vast collection’s multi-year liquidation. The sale, which was conducted by Robert A. Siegel Auction Galleries Inc., is the first part of a two-part auction, which carried a presale estimate of $15 million to $20 million. The second tranche, which represents just 5% of the presale estimate’s value, will hit the auction block on Saturday.
Not including Friday’s auction, Gross has sold over $24 million worth of his collection of U.S. stamps through Robert A. Siegel Auction Galleries; before that, he sold approximately $30 million worth of his international stamps through Shreves Philatelic Galleries, according to an auction house spokesperson.