Rare stamps worth 20 mln HK dollars to be auctioned in HK

A batch of rare Chinese and Asian stamps with an estimated value of over 20 billion HK dollars (about 2.57 U.S. dollars) are set to be auctioned in Hong Kong by Zurich Asia during the coming weekend, according to a release by the Asia's leading stamp auction house.

Items going under the hammer includes an imperial China stamp dating back to 1897, which is estimated to worth between 2.5 to 3 million HK dollars.

The small one dollar surcharge on 3 cents Red Revenue stamp is described as "one of the finest examples of its kind" and "the most cherished gem of Chinese philately" by Zurich Asia.

Another star item of the auction is a horizontal pair of 1885 dragon-themed yellow stamps with imperforate between variety. Zurich Asia expects to fetch 1 to 1.2 million HK dollars from selling this piece.

In addition, a complete sheet of 80 stamps of 8 fen "Golden Monkey" of 1980 has also garnered a lot of attention from buyers.

Zurich Asia holds two stamp auctions every year in Hong Kong, each time achieving a turnover between 15 million and 20 million HK dollars. (7.77 HK dollars equal 1 U.S. dollar)

Source: Xinhua