New York, NY (PRWEB) April 26, 2007
Renowned Wall Street bond manager, Bill Gross, will offer the Great Britain portion of his extensive, international stamp collection in a public auction conservatively estimated to bring $4 million. All proceeds from the collection's sale will be donated to the nonprofit organization, Doctors Without Borders/Médecins Sans Frontières (MSF), according to Charles Shreve, President of Shreves Philatelic Galleries, Inc. of New York City and Dallas (http://www.Shreves.com), the auction house that will conduct the sale in New York City on June 11.
It's anticipated to be the largest single donation ever made in the United States to the international medical humanitarian organization, and will be given as an unrestricted gift by Sue and Bill Gross.
"The auction will have 200 historic, early Great Britain stamps from Mr. Gross' extensive worldwide collection and offer some of the most famous and valuable items ever recorded. These include extraordinary examples of the legendary 'Penny Black' and 'Two Penny Blue' stamps depicting young Queen Victoria, the world's first adhesive postage stamps issued in 1840," said Shreve.
One of the highlights is the largest known block of mint-condition Penny Black stamps in private hands. There are 18 stamps in the block, and Shreve estimates it will sell for $400,000 to $500,000.
Gross, of Laguna Beach, California, is Founder and Chief Investment Officer of Pacific Investment Management Company (PIMCO) of Newport Beach, California, and one of the world's largest bond managers with over $700 billion of fixed-income securities under management.
Doctors Without Borders is an independent international medical humanitarian organization that delivers emergency health care aid to people affected by armed conflict, epidemics, natural or man-made disasters in more than 70 countries.
"This has the potential to be one of the largest donations in the 36 year history of our organization. The incredible generosity of Bill and Sue Gross will help ensure that our medical teams can provide lifesaving care to victims of the most urgent and neglected crises around the world. Doctors Without Borders is also grateful that the Gross' have entrusted us with finding where the needs are the greatest," said Dr. Darin Portnoy of New York City, President of the U.S. section of Doctors Without Borders.
"Bill Gross is the consummate stamp collector" and "an ambassador for the hobby," said Cheryl R. Ganz, Ph.D., Curator of Philately at the Smithsonian National Postal Museum in Washington D.C.
"By selecting exquisite examples of outstanding rarities, he has formed collections of legendary status. His exhibits have attracted huge crowds whenever they are displayed," stated Dr. Ganz.
Stamps from Gross' specialized collection of Great Britain stamps date from 1840 to 1929. The collection's 1904 six pence "I.R. Official," a stamp issued only for government use, is the only mint example in private hands.
"I expect this amazing stamp will realize in excess of $250,000," predicted Tracy Shreve, co-owner of Shreves Philatelic Galleries and the auctioneer who will call the sale.
"The appearance of the many rarities found in Mr. Gross' collection, and the fact that all funds raised through its sale will be donated to Doctors Without Borders, will attract serious bidders literally from around the world. We expect intense bidding competition," she said.
The stamps will be displayed for potential bidders at Brown's Hotel in London, England on May 21 and 22, and at the New York City offices of Shreves, June 8 to 10.
For additional information, contact Shreves Philatelic Galleries, 145 W. 57th St., 18th floor, New York, NY 10019. Phone: (212) 262-8400. Online: http://www.Shreves.com.