#38-Rarity, The Book Hunter, and Pagani
“Let's say it's our mission to create pieces of art in all respects of the word.” - Horacio Pagani
What do I do? I’m searching for the world’s greatest collectibles.
Fascinated by the history, provenance, and extreme value these items hold.
If you’re buying, I can help.
Selling? I’m interested and would like to talk.
From the most rare Pagani hypercars, to the 1907 ultra high relief double eagle gold coin, if you own one of the world’s greatest collectibles, I would love to discuss it with you.
I search the globe to meet fascinating collectors, hear their stories, and help them in their journey. Always in confidence.
I’m looking forward to crossing paths with you someday.
Three Thoughts -
My three favorite insights I’ve been thinking about lately -
Hopefully they get your collecting-thoughts flowing a little bit. I’d love to hear any comments you may have.
#1 - The Rarest Double Eagle?
In June of 2000, a Saint Gaudens double eagle gold coin was offered at a Sotheby's auction.
The 1921 Saint-Gaudens double eagle satin finish proof coin.
Turns out, it's one of the most important coins in U.S. history and almost nobody knew it existed.
There are no mint records of it's production.
It had coin experts shocked and baffled. Satin finish proofs were only struck in 1909 and 1910.
Turns out, the Mint Director from 1917 to 1922 was Raymond T. Baker, who struck the special satin proof double eagle for his newborn nephew Joseph Baker.
Then, in 2006, a second 1921 satin finish proof double eagle surfaced.
Now there are two.
Collectors argue its the most important date of all double eagle Saints. With only two examples, it's far more rare than even the 1933, which there are at least 14.
The 'Baker' coin sold for $2 million in 2021 at a Heritage auction.
Coin experts say that's it now, there are only two in existence.
But how can we be so sure?
You might be wise to keep your eyes peeled for a 1921 Saint in Satin...
#2 - The Book Hunter, Samuel Baker
On March 11th, 1744, Samuel Baker held his first auction of several hundred rare and valuable books in the London. His payday amounted to 826 pounds.
Samuel grew his book selling business, and eventually hired his nephew, John.
As a talented auctioneer, John expanded to offer coins, paintings, and metals, to go along with his books.
When his uncle Samuel Baker died in 1778, John took over the business.
Several partnerships, and nearly 30 years later, John's nephew Samuel Sotheby renamed the company using his last name.
Today, Sotheby's is the largest auction house in the world recording $6.5 billion in sales last year.
In his 1895 writing of 'The Book-Hunter in London,' author William Roberts brilliantly summarizes the success of Sotheby's -
"The secret of this steady and sustained progress is to be found in the general confidence secured by strict commercial integrity. The house receives business, but never solicits it. During the last half century nearly every important library has been sold at Sotheby's."
#3 - Art and Science of Pagani
"Leonardo in the Renaissance, so about 500 years ago, claimed that art and science can walk together hand in hand and so when I read this saying from Leonardo it opened a new window for me, a world that I wanted to explore."
- Horacio Pagani
Question for You -
What Are Traits of the World's Greatest Collectibles?
- Rarity
- Quality
- Provenance
- An Amazing Story
But it doesn't stop there. You also need:
- Beauty
- Desirability
- Cultural impact
- Near obsolescence
- A personal connection
- Wonder, curiosity, or amazement
- And almost zero chance of owning it
What else am I missing?
Thanks for reading, and have a great week!
tj@atticcapital.com