My name is Wahid Zia. I am collecting stamps since the last 37 years (1980). I created a blog which includes the information of Pakistan all stamps. W/W new issues & all issues of Pakistan from 1947 to date are available on this blog. I invite you to visit my blog and get useful information.

Wednesday, March 2, 2011

Stamp auction is expected to set new world record in Hong Kong

Hong Kong will hold its largest stamp auction at the Park Lane Hotel from Saturday to Monday, with 3,000 lots and a presale estimate of over $6.45 million, according to the organizer.

The auction will include both rare Classic China stamps from the Qing Dynasty (1644-1911) and 600 lots issued at the beginning of the People's Republic of China.

A three-strip of the $5 inverted surcharge from the 1897 Red Revenue series, which is valued at $619,000-710,000, is expected to set a world record to become the most expensive Classic Chinese stamp multiple ever sold at auction.

Another highlight is the unique four-block 1968 "Chairman Mao's Inscription to Japanese Worker Friends," with presale figures estimating it at up to $1,032,000. The issuance of the stamp was cancelled later but a few had been released from a post office in Hebei, according to the organizer. The owner of this stamp, Ng Siong Tee of Singapore once won a Gold Medal at the International Stamp Exhibition in Beijing in 1999, with his own collection of Cultural Revolution (1966-76) issues.

"As a philatelist, we are seeing in the People's Republic stamps a level of interest and excitement that is absolutely breathtaking, with many increasing 200 percent or more in value in the past two or three years in this white-hot market," said Jeffrey Schneider, the founder of Interasia in Hong Kong, the organizer of this auction.

Last year, the two-day auction realized $7.35 million with 1,940 lots for auction.