On March 18, 1872, there was held the first auction of rare postage-stamps at the rooms of Messrs. Sotheby, in Wellington Street, London. The experiment was made with what was described as a _portion_ of an American collection, and the only reason the _whole_ collection was not offered was that the time of the public was too valuable to spread over three days! A criticism in the columns of _The Philatelical Journal_ of April 15, 1872, attributes some of the prices, even then considered low, to the distrust of amateurs when the owner was bidding. I give a few of the prices realised. Lot 6 was the 15 cents error, United States, 1869, with the frame inverted: "This fetched a _good price_" in the opinion of the contemporary philatelic writer, being knocked down to Mr. Atlee for 36s. My friend, Mr. E. B. Power, in his priced work "United States Stamps," 1909, prices this stamp at $2,500 unused, $150 used. Lot 12 was a 5 cents Brattleboro: "a beauty, was bought in at £3; it would have sold well but for the owner's bidding," &c. I suppose a Brattleboro, especially "a beauty," would find ready competition in three figures to-day. Other lots _bought in_ were:--
Lot 15, St. Louis, all three varieties of the 5c. £2 13s. Lot 16, " " " " 10c. £2 7s. Lot 17, " 20 c., "unique" £6. Lot 18, " 20 c., "variety not unique" £8 12s.
The 5 cent St. Louis used is now catalogued at £25, and the 10 cent at £30; a _pair_ of the 20 cents, these stamps being part of the treasure-trove of the celebrated find of 1895, was sold in the 'nineties for £1,026. Some of the Blood locals were bought in, but Mr. Pemberton secured for £5 a copy of the very rare _pink_ Jefferson Market P.O. stamp.
"Here," says our chronicler, "occurred something amusing; the auctioneer probably fancied that as this was unique and exciting competition, it was a _handsome_ stamp, so as the bidding rose described it as 'beautifully engraved,' which created great laughter, for it was a foully hideous thing, and the engraving apparently done by a blind man with a skewer." Altogether there were many rare American locals, the majority of which fell to Sir Daniel Cooper, Mr. Atlee, and Mr. Pemberton. Then came "some miscellaneous lots, sets of used, &c., of which some fetched exorbitant prices, for instance, four varieties of 5 cents, green, eagle, Bolivia, were sold for 14s., the 5 cent lilac for 23s., the 10 cent brown for 17s. The early Luzons (Philippines), used, were good lots and the 5 and 10 cent 1854, with 1 and 2 rs., fetched in the aggregate £6 9s., so they were no bargain."