Chinese stamp markets are going strong as sale doubles $86,900 estimate

It starred a 1968 Chinese stamp, which doubled its estimate despite being described as 'repaired'

The latest Stanley Gibbons Public Auction, held in London on December 17, showed that Asian material is once again proving to be very popular with bidders. The China section in particular more than doubled its lower pre-auction estimate of just over £56,000 ($86,921).

According to Stanley Gibbons, room bidders were competing against determined telephone bidders and a strong log book, which resulted in the 1962 Stage Art of Mei Lan-fang 3y miniature sheet (SG MS2044a) realising £12,650.

Meanwhile, the highest realisation was scored by the 1968 The Whole Country is Red 8f. The piece sold for £31,050 ($48,195), even though it was described as having been repaired, re-gummed and with tone spots.

This 1968 The Whole Country is Red 8f doubled its estimate in London

Another, better quality version of the once controversial stamp previously sold for a World Record price of HK$3.68m (US$475,000) in November 2009.

Collections of China were also keenly contested with one lot comprising a general collection in three volumes from 1949 to mid 1980s. It brought £20,70, while what was described as an "interesting accumulation of Postal History loose in carton" reached £13,800.

Hong Kong continued the trend with a complete sheet of Trengganu 1942 $5 green and red/yellow (SG J115) stamps realising £10,925.

The Penny Black has proved popular among Chinese collectors with Stanley Gibbons selling out of stock at an event in Beijing in November.

The world's first postage stamp, the Penny Black,
is proving popular among Chinese buyers. Pieces
like this very rare block of four can command values
of around £140,000 on the collectors' markets

With demand for the stamp 100 times the normal market size and collectors prepared to pay well over the catalogue value, prices for this relic of British will surely increase in the future. "Buyers of the 1d black at this month's auction may well have secured themselves a great deal if the trend continues," said a statement from Stanley Gibbons.

All above quoted prices include buyers premium at 15%.

• Click here to view our rare stamps for sale
• Learn how you can get pleasure and profit by investing in collectible stamps
• Read all the latest Stamps & Covers news

Join our readers in over 200 countries around the world - sign up for your free weekly Collectibles Newsletter today or download our free Collectors News app for your iPhone

Recent and related articles...

·  Not feeling the blues... Extremely rare 90c blue re-issue heads Siegel's stamp sale | 12 December 2010

The single used stamp brought $190,000 in the company's landmark 1,000th auction

·  Lenin could rule New York as great Russian stamp collection goes up for sale | 8 December 2010

The well-known Patrick Eppel Collection is going under the hammer at Cherrystone, next week

·  The Stamp and Art collections of Kerby Confer | 18 August 2010

The Pennsylvania-born DJ broke the world record for a rare stamp sale - but his first love was Donald Duck

·  'Inverted Jenny' and $1.3m Chinese stamp to auction in Hong Kong | 5 July 2010

America's most famous stamp and China's most valuable are selling side-by-side at Interasia

·  The Collections of Bill Gross | 26 November 2009

The financial genius, philanthropist and stamp collector

www.paulfrasercollectibles.com

Image: Stanley Gibbons