Rare stamp sells for $890,000

HONG KONG - Agence France-Presse

One of China’s rarest stamps sold for HK$6.9 million ($890,000) at auction in Hong Kong, the auctioneers said today.

With just 32 recorded copies, the Qing Dynasty “1897 Red Revenue Small One Dollar” stamp is “China’s rarest regularly-issued stamp,” Interasia Auctions said in a press release.

The bright red stamp, symbolizing luck and good fortune in Chinese culture, is rare because the characters “Qing Dynasty postal service, one dollar” were considered too small, prompting the printing of a second version.

The stamp was part of a three-day auction of Chinese, Hong Kong and Asian stamps which ended July 1 bringing in a total of HK$71.9 million, Interasia said.

“Philately has a special place in Chinese culture, with rare stamps regarded as important cultural icons and treasures, just like art,” auction house director Jeffrey Schneider said. A pair of rare stamps bearing an accidentally inverted picture of Chinese nationalist leader Sun Yat-sen sold for more than $700,000 in Hong Kong last October. Mainland Chinese are regular buyers of the top lots at sales of art, jewellery and wine.