Wednesday , 17 April 2024
Home » World » Stamp Auctions at Record Price for Fourth Time, Report
Stamp Auctions at Record Price for Fourth Time, Report
Stamp Auctions at Record Price for Fourth Time, Report

Stamp Auctions at Record Price for Fourth Time, Report

The world’s most famous stamp sold for nearly one billion times its original value at a city auction house Tuesday.

This British Guiana one-cent stamp went for a record-setting $9.48 million at Sotheby’s.

The stamp was originally issued in 1856. Auction officials say it had since been in some of the world’s top stamp collections and hadn’t been seen by the public since 1986.

Rediscovered by a 12-year-old Scottish boy living in South America in 1873, the stamp passed through some of the most important stamp collections ever assembled.

Untill Sotheby’s international exhibitions this spring in Hong Kong, London and New York, the British Guiana had been out of public view since the 1986.

An anonymous bidder placed the winning bid over telephone, auctioneers said.

“We are thrilled with extraordinary, record-setting price of USD 9.5 million – a truly great moment for the world of stamp collecting. That price will be hard to beat, and likely won’t be exceeded unless the British Guiana comes up for sale again in the future,” David Redden, Sotheby’s Vice Chairman said.

Redden said, “I’m a little sad to see it go – when I was eight years old this was the most precious object in the entire world, and I never dreamed I would have it in my hands.”

In 1922 Arthur Hind from Utica New York purchased the stamp at an auction for then-record price of USD 35,000. In 1970 the Irwin Weinberg stamp consortium purchased it at the auction for for then-record price of USD 280,000. It was followed by an auction in 1980 when John E Du Pont from Pennsylvania bought it for then-record price of USD 935,000.

The previous auction record for a single stamp was approximately USD 2.2 million, set by the Treskilling Yellow in 1996.

Auctioneers said the previous auction record for any philatelic item was approximately USD 4 million, set by The Bordeaux Cover in 1993 – the cover including both of the Mauritius “Post Office” stamps.


  • About News

    Web articles – via partners/network co-ordinators. This website and its contents are the exclusive property of ANGA Media Corporation . We appreciate your feedback and respond to every request. Please fill in the form or send us email to: [email protected]

    Leave a Reply