This is a good read:
Great story. Can't wait till tomorrow to see what she brings.
The final price realized was $295,000 with the 18 % buyers fee on a $250,000 hammer bid according to this article.
This seemed to be a fairly strong price based on the $150,000 to $200,000 estimated by the owner, the American Philatelic Research Library, as mentioned in the article. The auction listing looked like it gave just the catalog value for an undamaged stamp of $450,000 rather than an actual estimate for this one which had been altered to try and hide its identity.
The $1,000,000+ estimate looks like it was promoted by press articles rather than the auctioneer or the owner. That must have been based on the finest example that auctioned at over $1 million.
I'm not much into stamps, though I kind of liked the one below which brought only $164,500 in 2015 at Stack's. It was the one given by famous coin collector Colonel Edward H. R. Green to his wife in a locket.
Lot listing with much info here:
Found an interesting site just for the Inverted Jenny with historical and sales information for each position in the original sheet. Sort of like a Coinfacts for just these stamps.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
@WinLoseWin Thanks for the sales records page. That is really cool.