October
18, 2002
October
18, 2002
REGENCY STAMPS BUYS SUPERIOR STAMPS & COLLECTIBLES
St. Louis, Missouri – Regency Stamps, Ltd. has purchased most of the assets
and operations of Superior Stamps & Collectibles of Beverly Hills,
California from its parent company A-Mark Auction Galleries. A-Mark
Auctions through the sale of Superior Stamps is now a Regency shareholder.
In a continuing effort to expand its business nationally, Regency has bought the
venerable auction house which has been in business over 70-years. Superior has
been a leader not only in the auction of stamps and postal history, but also of
historical documents, sports and entertainment collectibles, and space
memorabilia.
Both Regency and Superior will maintain their current locations and identities,
securing their strong presence in the Midwest and West Coast. Administration and
marketing will be moved to St. Louis, and Alan Lipkin who ran Superior’s
operation as vice president under A-Mark has now been given the title of senior
vice president and will continue in the same capacity in Beverly Hills.
According to Regency president, David Kols, “We are in business to enhance the
hobby by building a service driven organization, and to make money for our
shareholders. In order to continue Regency’s growth, we found that Superior
was a perfect opportunity – adding their rich history in the stamp and related
collectibles business to ours, and providing a strong presence in Southern
California, in what may be the wealthiest geographic market in the country. In
addition, A-Mark Auctions has extended Regency a $1 million Line of Credit
allowing us to purchase larger deals for outright cash. As an interesting aside,
California represents the second largest concentration of Regency’s
shareholders in a given state after Missouri. We are confident that at the end
of the day Superior Stamps and Regency together will be more profitable and be
the foundation of a future IPO.”
A-Mark’s President Steven Markoff said, “With Regency’s operational know
how and focus, and with A-Mark’s Line of Credit, the future looks quite bright
for David Kols and his companies. The Line of Credit should allow Regency
to aggressively compete for the best properties, and fund purchases they were
unable to make in the past. We look forward to our involvement with them as a
shareholder and lender.”
David Kols has a successful track record. In just ten years, he has built
Regency into one of the nation’s leading stamp auction houses. And, with its
energetic staff, state of the art computer system, and new larger office in St.
Louis, the timing could not be better.
Plans are under way to continue Regency’s four major auctions each year,
plus add two more sales in California. Regency’s next sale is scheduled for
November 16th in St. Louis, featuring almost $1 million of no reserve philatelic
material – mostly large box lots and collections. Superior’s first sale
under Regency’s ownership is scheduled for January 20-21, 2003 at its Beverly
Hills office.
For more information, collectors should contact Regency-Superior Stamps & Collectibles at (800) 782-0066, Fax: (314) 361-5699, Email: info@RegencyStamps.com or visit their shop at: Regency Stamps, 229 N Euclid Ave, St. Louis, MO 63108-1505. Website: http://www.regencystamps.com.
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