Market Watch: Bidding war shows ‘broad’ market

Last week, All Nations Stamp and Coin hosted its weekly auction, which provided an unexpected bidding war on an unassuming 130-year-old cover.

Lot 89 of All Nations Stamp and Coin Auction No. 1063 included an 1886 Grand Lodge Victoria cover sent to Moodyville, North Vancouver using a three-cent Small Queen, as well as an 1891 bill for Moodyville Sawmill Co. It had a pre-sale estimate of $50.

“There were eight different bidders, which was wonderful, and it shows there’s a broad market but not a deep one for colonial British Columbia material,” said auctioneer and All Nations owner Brian Grant Duff, whose business is based out of Vancouver.

The lot eventually crossed the block for $3,025, hammering down for nearly 6,000 per cent above estimate.

“The Wellburn Collection is the gift that keeps on giving,” said Duff, who added the collection was amassed by noted collector Gerald Wellburn and has since garnered international attention with widespread media coverage and bidding from around the world.

Lot 89

Lot 89 included an 1891 bill for Moodyville Sawmill Co.

The long-time auctioneer said some of the lots from the Wellburn Collection have sold for as much as $44,000, adding the “value on this stuff is somewhat nebulous.”

“In theory, each page is worth upwards of $50, but it can go for much less or much more, depending on what holes people are trying to fill in their collections.”

Each of the auction’s 200 lots were sold.

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