Bea, I am not a fan of waxed Amaryllis, but I have since learned that with care, the wax can be removed and the bulbs can often be salvaged ( If there is any basal plate remaining) to be planted up in a pot or outside to bloom again. Waxed bulbs have introduced many people, who haven't had a lot of success in the past with the boxed bulbs, to a "failsafe" way to have blooms at Xmas. I would imagine that 95% of the waxed bulbs are discarded after blooming, but the discard rate is probably about the same as with Amaryllis bulbs that are purchased before Xmas as gifts or for decoration. You got excellent blooming from your waxed bulbs. I am not familiar with Red Sovereign. However, emaryllis.com shows a photo of Red Sovereign which is a recent hybrid, so your labels are most likely correct. If you want to, you can propose an addition to the DB. There is already an Orange Sovereign in the DB.
