BVI Stamp Collection sells for  over $430,000

 The best collection of British Virgin Islands stamps ever formed was auctioned by Spink of London on 20 May 2004 and netted  £233,000, or well over US$430,000. No lot of the celebrated William Frazer Collection of BVI Stamps and Postal History remained unsold, many of the stamps and covers attracting fierce bidding resulting in items being hammered down at three to ten times their estimates.

Attending the historic sale was Secretary of the BVI Philatelic Society Mr. Roger Downing who simply stated: “Those were the fastest three hours in my life. My adrenaline was at the maximum for the excitement and the bidding was unbelievable. Partly due to the fact that BVI material is intrinsically rare and in no small measure because the Specialised Stamp Catalogue of the BVI (a joint effort of the BVI Philatelic Society and BVI Government) has promoted local stamps like no other publication before raising the philatelic profile of the Territory at its highest level ever.” Mr. Downing said that there were four bidders on the telephone and those in the auction room were very determined to get what they wanted.

It has since been learned that at least three BVI collectors have secured several star items from the Frazer Collection, including unique pieces and many pedigreed rarities from collections formed by the Swiss billionaire Maurice Burrus and the Duke of Argyll.

In commenting about the outcome of the sale, BVI Philatelic Society President, Dr. Giorgio Migliavacca said that there are obviously new collectors in the fray who are very aggressive and have the wherewithal to match their ambitions. “One would have thought that the occasional item doubling its price and many items selling well above the low estimates would have been a reasonable forecast. But this was much more than that, and it is a clear indication that new and serious collectors and investors have joined the old guard.” Dr. Migliavacca pointed out that the international publicity enjoyed by BVI stamp exhibitions and the publication of a Specialised Catalogue of BVI Stamps has raised the stamp world awareness of this fascinating collecting field.  Migliavacca, who is the editor of the catalogue, went on to explain that “the stiff competition amongst room, postal and telephone bidders is a clear indication of the popularity of old BVI stamps.”

He was echoed by Downing who added, “The intensity of the competition for this collection was amazing and reflects the historical importance of BVI stamps.” Migliavacca explained that one of the items that sold for nearly $6,000 had been auctioned by Christie’s in 1968 and acquired by Frazer for a trifle of $150. “That says a lot about the performance of rare BVI stamps, and I am glad to say that it is now back in the BVI together with many other impressive items that will adorn collections owned by local collectors,” Migliavacca concluded.

The sale included the legendary “Missing Virgin” and many rarities that fetched incredibly high prices. Downing spent two days at Spink prior to the auction to view every single item of the Frazer Collection and make notes on quality and technical aspects. This information will be very valuable for the upcoming companion volume to the BVI Stamp Catalogue.

 The William Frazer exhibition collection had disappeared from sight since the death of its owner many years ago. Mr. Frazer was a renowned stamp dealer specialising in British Commonwealth stamps. His philatelic estate is being auctioned by the Bloomsbury-based Spink of London and has already netted several millions of sterling pounds. In the 1970s his BVI collection won the gold medal at the Munich World Stamp Exhibition (IBRA) and he managed to visit Tortola in September 1980 together with his wife and was interviewed by The Welcome editor, Mr. Cyril Woodfield. In a letter to Woodfield, Frazer stated: “My wife and I thoroughly enjoyed our visit to Tortola, and found everyone so friendly, which is perhaps reflected by the fact that the local prison was short of clients.”