In news reports of auction prices realized, we rarely learn what percentage of overall catalog value a collection has brought. Certain prime pieces are selected for reporting. But what is really important to the owner, “how much it all came to,” is ignored.

Any good stamp auction house can get high prices for selected rarities of exceptional quality. This is of little consequence to most collectors because such items constitute a small proportion of the total catalog value of their collections. The real point to concentrate on is what the auction house can get for more ordinary stamps and covers.

For years the best auctioneers have realized that the seller is best pleased by realizing for him a higher amount for all of his consignment than he expected. Of course he wants his pet pieces to sell well, but money in the bank is measured by the height of the balance, not little parts of what is there.