Three things to keep in mind when looking at the above results (unsolds are not included):

1. It is important to look at the individual data points listed below. Price swings up may be due to varieties such as broken hat or other positives such as cancels. Price swings down may be due to factors such as faults on items that would have graded higher if they were sound, and may not be considered as desirable as a sound copy in this grade.
2. When looking at multiple grades on the graph, grades with the same population numbers may show overlapping.
3. At the time of an auction, the SMQ value has already been published and is available to bidders. Increases or decreases in SMQ value prior to the auction may affect the price realized.

This information is provided for hobbyists and is not intended to represent philatelic material as an investment or financial instrument. Past performance is neither an indication nor guarantee of future performance. Every effort has been made to ensure the accuracy of the information, but Siegel Auction Galleries (including its representatives and affiliates) is not liable for errors or omissions of any kind. "SMQ" refers to Stamp Market Quarterly, a copyrighted publication, and the information is used with the copyright holder's permission.