22 September 2019
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Spink are about to auction a rare an 'iconic Inverted Jenny unique centerline block of four', given to Nick Gross by his billionaire father Bill, in a one-lot auction that is set to fetch over $2 million
The unique block of four Inverted Jenny stamps was reportedly given to seller Nick Gross by his father William Gross, a renowned and wealthy bond manager and philatelist, who has sold a range of high profile stamps in recent years, often giving the money to charity.
According to a report in the New York Post, the stamps were a gift and intended as inheritance for Bill Gross's grandchildren, however son Nick is now selling the rare block at a Spink auction. Gross and his son have reportedly ben estranged since 2016 and the tycoon's divorce.
The report in the New York Post also suggests William Gross is attempting to stop the sale of the stamps.
The Inverted Jenny is one of the world's most famous stamp rarities, featuring an inverted image of the Curtiss JN-4 aeroplane. The 24c stamp was issued in May 1918 and only one sheet of 100 stamps featuring the error was ever discovered.
The auction lot description states:
'This magnificent and unique centerline position block from the original sheet of 100 is clearly ranked as one of the greatest items in world philately not only in terms of its unique status but also for its tremendous eye-appeal.'
The block of four stamps was first sold in 1946 (for $22,000) and since then has changed hands many times, most recently in a private sale to William Gross.
The auction of the block of four stamps takes place on 27 September at Spink and is 'offered with a very modest opening bid of $1,000,000'.
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