Stanley Gibbons Auction Demonstrates Strength Of China Market
Stanley Gibbons latest public auction shows the strength of the China market with a 1968 Chinese stamp more than doubling its pre auction estimate despite being described as having been repaired, re-gummed and having tone spots.
- (1888PressRelease) December 18, 2010 - The latest Stanley Gibbons Public Auction, held at their retail premises at 399 Strand on Wednesday 15th December, showed that Asian material is once again proving to be very popular with bidders, with the China section in particular more than doubling its lower pre-auction estimate of just over £56,000.
Room bidders were competing against determined telephone bidders and a strong log book, which resulted in Lot 58, the 1962 Stage Art of Mei Lan-fang 3y miniature sheet (SG MS2044a), realising £12,650*, with the highest realisation for Lot 78, the 1968 The Whole Country is Red 8f, achieving £31,050 - even though it was described as having been repaired, re-gummed and with tone spots.
Collections of China were also keenly contested with Lot 87, a general collection in three volumes from 1949 to mid 1980s, realising £20,700 and what was described as an "interesting accumulation of Postal History loose in carton" (Lot 86) reaching £13,800.
Hong Kong continued the trend with Lot 384, a 1904-06 $10 slate and orange/blue (SG 90) lightly used, reaching £1,035 and Lot 549, a complete sheet of Trengganu 1942 $5 green and red/yellow (SG J115), realising £10,925.
The afternoon's Great Britain section saw strong competition pushing the prices for most of the 1840 1d black lots well above estimates, and "better" booklets again showing strength with Lot 1196, a 1934 5s black/buff (SG BB35) edition 8, realising £1,610 and Lot 1204, a 1940 5s black/buff (SG BD25) edition 8, reaching £1,495.
The Penny Black has proved popular among Chinese collectors with Stanley Gibbons selling out of stock at an event in Beijing in November- a newsletter sent out after the event by Stanley Gibbons CEO, Mike Hall warned that, with Chinese collectors prepared to pay well over catalogue, prices for this relic of British Philately would surely increase, having experienced a demand at 100 times the normal market size. Buyers of the 1d black at this month's auction may well have secured themselves a great deal if the trend continues.
The auction also raised over £4600 for the Jersey based "Durrell Wildlife Conservation Trust" (excluding buyer's premium) with all 39 lots offered on their behalf, finding new homes.
*All prices quoted include buyers premium at 15% unless otherwise stated.
The auction catalogue and a complete list of realisations can be viewed online at stanleygibbons.com.