2 Stamp Sells for $1.1 Million
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NEW YORK — A world record price for a single stamp--$1.1 million--was paid today for a stamp that sold in Pittsburgh 135 years ago for only two cents, the auctioneers said.
Marc Rousso, chairman of Coach Investments Inc., said the stamp, known as the Lady McGill, was bought by a Japanese bank which he declined to name.
The previous world record for a single stamp was $935,000 for an 1856 British Guiana one-cent magenta that was auctioned at New York’s Waldorf Astoria Hotel on April 5, 1980, to an anonymous collector.
Rousso said that the Lady McGill was sold to Coach by dealer David Champagne of Melbourne, Fla., and that the Japanese bank purchased it almost immediately upon hearing it was to be auctioned.
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