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Friday, September 17, 2010

$155,000 British Commonwealth stamp beats Russian rarity at auction

Highlights of Cherrystone's sale came from Russia, Argentina & Canada to name but a few...

This week's two day sale of stamps at Cherrystone auction house in New York had pieces to attract investors from far and wide.

The good news is that the event did not disappoint with numerous lots of fine stamps reaching some notable sale prices.

the 1968 Russian Railroad Stamp

One such example was a 1968 unused and unissued 6k dark red, rose and yellow Russian Railroad stamp.

Presented in very fine condition without the gum, this stamp was believed to be very rare if not unique by Cherrystone and sold for its estimated price of £16,080 ($25,000).

The auction also featured a variety of lots from South America, with the pick of the bunch being a collection of Argentinean stamps dating from 1899 to 1908.

The group comprised of Liberty Seated, 1p blue & black, 5p orange & black, 10p green & black and centre inverted stamps.

The set comprised of a unique set of three sheet corner margin blocks of four with the first two lightly hinged whilst the 10p was never hinged.

The stamps featured were considered to be some of the most important pieces of any Argentine set and sold for an impressive £19,290 ($30,000) to one lucky collector.

Yet the top two lots at the sale eclipsed these figures at auction.

The first was a rare special presentation souvenir sheet of four Russian stamps celebrating the 1932 First All-union Philatelic Exhibition.

The British Commonwealth
of Canada stamp

Only 500 of these souvenir sheets were issued on carton paper, with the majority going to official dignitaries and many then discarded or used and destroyed as tickets into the exhibition.

This very fine example is the only known used souvenir sheet with the red First Day of Issue postmark applied to the stamps which dated the piece at "5.12.1932" with the words "All Soviet Philatelic Exhibition, Moscow."

Unsurprisingly, this unique collectible set sold for £64,300 ($100,000).

There was also distinctively British feel to the top lot at Cherrystone stamp sale.

The rare 1852 British Commonwealth of Canada 12 black stamp offered a real find to the collectors in attendance.

Unused and with part of its original gum, this very fine example featured margins all round and an intense and well preserved colour. Regarded as one of the most valuable Canadian stamps on the market, this piece sold for £96,440 ($155,000).

Overall, the event was a resounding success and with the sale of the Alexander Collection of Imperial Russian stamps still to conclude, this week could prove to be a very good one for the US auction house.