Z-GRIL STAMPS SELL FOR $4.3 MILLION AT NEW YORK’S RECORD-BREAKING STAMP SALE

Bond billionaire Bill Gross auctioned 100 rare stamps for $18.1 million on Friday, June 14, in New York, marking the penultimate phase of his extensive collection’s multi-year liquidation. Conducted by Robert A. Siegel Auction Galleries Inc., this sale is the first of a two-part auction with an estimated presale value between $15 million and $20 million. The final tranche, representing just 5% of the collection’s estimated value, will be auctioned on Saturday.

Prior to this auction, Gross had sold over $24 million worth of U.S. stamps through Siegel and approximately $30 million worth of international stamps through Shreves Philatelic Galleries.

Speaking on Bloomberg TV, Gross, 80, said, “I’m 80 years old and it’s time to turn this over to some other future collectors,” noting that stamp collecting has declined among younger generations.

“This is a collection that very few people in the world could put together,” said Scott Trepel, President of Siegel Auctions. He emphasized the rarity and longevity required to assemble such a collection.

The highest lot was the rare one-cent “Z” Grill stamp from 1868, which sold for $4.4 million, exceeding its presale estimate. Another notable sale included a 15-cent Z Grill stamp featuring Abraham Lincoln, which sold for $2.35 million.

Gross attributed his passion for stamp collecting to his mother, who had intended to invest in stamps to fund his education. Reflecting on her efforts, Gross applied his bond market expertise to successfully build and profit from his unique collection.