Stamp auction in Hong Kong

\"\"Hong Kong is holding 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.The auction  includes 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.


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