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Scott was innovative in business methods, and conducted the first postage stamp auction ever held (May 28, 1870, in New York City). This was a success and he continued to organize and conduct auctions in the United States and in Europe. He also was the first, in 1882, to issue an auction catalog with full color plates of the stamps on sale.
A philatelic auction, or stamp auction, is a sale of stamps, covers and other philatelic material usually run by stamp dealers or specialist collectibles auctioneers, such as David Feldman, Christie's and Sotheby's, where prospective purchasers place bids in an attempt to obtain the desired items.
According to Alexander Séfi, because of his obsession with the "black on magenta," Hind (according to rumor) bought not only one of the stamps, but the other remaining one, and then destroyed one so that he would own the only one in the world. [6] After Hind died, his American stamps were sold at auction for $247,000, in November 1933.
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In subsequent years, the Scott company gave up dealing in stamps but continued to publish the catalog, gradually providing more detail as the hobby evolved and collectors became more sophisticated. In addition to the factual information about the stamps, the catalog includes price information based on market analysis and reported sales from the ...
Cover of the 1868 Scott catalogue covering the first 28 years of stamps; "America and Foreign" Catalogs from the Michel range First original American stamp catalog. A stamp catalog (or stamp catalogue) is a catalog of postage stamp types with descriptions and prices. The stamp catalog is an essential tool of philately and stamp collecting.