Within three days of Showpiece offering a rare 1937 Edward VIII penny through a fractional-ownership scheme, all 4,000 “pieces” were sold to collectors and investors around the world (“1937 British penny offered in ‘pieces,’” CCN Vol. 59 #26).
After a limited release on March 7, a general release began a day later with 4,000 pieces sold for £50 (about $85 Cdn.) a piece.
“A trust is established with the beneficial interest split into a fixed number of fractions which we call ‘pieces,’” according to a statement on the Showpiece website, showpiece.com, which added buyers “own the unobtainable, pro-rata economic benefits and voting rights on any buyout offer plus item-specific benefits.”
Starting in May, the Showpiece “marketplace” will allow people to buy and sell pieces of any item listed on the platform. While pieces of the 1937 British penny sold out within days, the first Showpiece offering remains available.
The unique 1856 British Guiana one-cent magenta stamp – the world’s most valuable object by both weight and size – went on sale on Nov. 11 with 80,000 total pieces, of which 35.7 per cent remained as of March 13. Each magenta piece costs £100 (about $170 Cdn.).