Gandhi overprint makes $205,000 World Record price for any modern stamp



2015-06-26 12:24:16

Gandhi overprint makes $205,000 World Record price for any modern stamp

The 1948 stamp is thought to be a World Record price for a modern stamp from any country

Yesterday (May 19), Geneva auction house David Feldman sold a 1948 10 Rupee Mahatma Gandhi stamp of India for the incredible price of 120,000; 144,000(US$ 205,000)when buyer's premium is included.

This is much greater than thepricepaid for the prized example of the 4 Annas 'Inverted Head' error, which sold at Spink in October 2010 for 105,390 ($170,500 on today's exchange rate) - at that time a world record for an Indian stamp.

Since then another example of the error has sold for 140,000 hammer price at German auctioneers Christoph Gartner. Following on from Spink's sale of an 1854 Indian issuescover for the equivalent of $183,000in January,it's clear that this is to be a huge year for Indian philately.

David Feldmanalso believes that their sale represents a World Record price paid for a modern stamp from any country.

The stamp, probably the finest remaining example out of only 18 known in existence today, was issued by the Government of India as a set of 4 commemorative stamps on August 15th, 1948 as a tribute to the father of the nation Mahatma Gandhi, who was assassinated in January of the same year.

Gandhi stamp Indian world record price  It isfitting that one ofIndia'smost valuablestamps features Gandhi

These were the first commemorative stamps of Independent India, and issued in 4 denominations - 1 / 3 / 12 Annas, and the 10 Rupees. A set of only 100 10 Rs. stamps (in two sheets) were overprinted with "Service", making these the world's least printed stamp.

In the same auction, part of a fantastic Grand Prix winning collection of covers of Indian stamps used in Burma attracted interest from all over the world. During a tense period of bidding, the collection was sold for a total amount of 672,000 (US$ 957,000).

The results at David Feldman have shown that the market for Indian stamps and postal history is extremely buoyant, and makes an excellent opportunity for investors.

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