Rare 1897 Chinese stamp sells for £300,000
A rare Chinese stamp from 1897 has fetched nearly HK$3.5m (£300,000) at auction in Hong Kong.
The "Small One Dollar" stamp, one of 32 recorded copies in existence and described as "the king of stamps" in China, was the result of an error by the Chinese Post Office who printed the stamps with a typeface that was too small to read, meaning only a tiny number were ever made.
The sale came during a three-day auction in Hong Kong that ended on Monday having raised more than £2m, the latest in a series of record Chinese and Asian stamp sales this year that have seen prices of some stamps quadrupling in the last 18 months.
The most spectacular price jumps have come in modern Chinese stamps as speculators and investors bet that China's rising wealth will continue to drive prices ever higher....
Read entire article at Telegraph (UK)
The "Small One Dollar" stamp, one of 32 recorded copies in existence and described as "the king of stamps" in China, was the result of an error by the Chinese Post Office who printed the stamps with a typeface that was too small to read, meaning only a tiny number were ever made.
The sale came during a three-day auction in Hong Kong that ended on Monday having raised more than £2m, the latest in a series of record Chinese and Asian stamp sales this year that have seen prices of some stamps quadrupling in the last 18 months.
The most spectacular price jumps have come in modern Chinese stamps as speculators and investors bet that China's rising wealth will continue to drive prices ever higher....