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World record set for single NZ stamp - $NZ185,000

World record set for single NZ stamp - $NZ185,000 - at Sothebys in London today

A new world record price of $nz185,000 was set for a rare New Zealand stamp at Sothebys auction in London today.

The 1855 London print one penny full-face Queen sold for $nz185,000, beating the old record of $nz125,000 for the 4d ‘invert’, set by Mowbrays in New Zealand in 1999.


Click for big version

Pictured: Two of the 'full-face Queens' like what was sold at auction. These are 1855 - first NZ stamps. source credit: John Mowbray Stamps

The sale of NZ stamps was part of the massive Gawaine Baillie Collection which has been hailed as the most important collection of stamps to be sold for 50 Years.

New Zealand’s leading stamp dealer John Mowbray was at the auction today bidding aggressively for the penny stamp but withdrew when the price went through the roof.

``Though we missed out on this single stamp, the auction today was hugely positively news for the market and interest in New Zealand stamps at auction,’’ Mowbray said from London today.

``This clearly demonstrated the market is extremely strong for quality NZ stamps.

``Mowbrays purchased a few stamps today and we’ll be at the auction for NZ stamps for the next two days but we were unable to purchase the three key items.’’

The 1885 penny full-face Queen – NZ’s first stamp – sold for double the estimate. Two other full-face Queens sold for double and triple their estimates.

Mowbray said there was real interest in NZ stamps and the live auction and NZ catalogue prices will have to be rewritten as a result of the landmark Sotheby’s sale.

Some of the items among the 1167 lots of NZ stamps being sold over three days will return to New Zealand.

``I tried to secure these top NZ stamps but the prices went beyond what I had even optimistically expected,’’ Mowbray said.

``I will be bidding on the auction floor over the next two days to attempt to buy more stamps before returning to Wellington on Monday.

``There won’t be the intensity for the remaining stamps I wouldn’t think. I have never seen such a competitive market in all my years of dealings.

``There were some heavy-hitters there but it is great news for the NZ stamp market. The late Sir Gawaine competed in numerous motor racing championships, including Le Mans 24 Hours, Goodwood, Aintree, Silverstone and the Tour de France. He won the 1965 Longford event in Tasmania. He never visited NZ. Sir Gawaine was brought up in his mother’s home of Leeds Castle and had a largely secret interest in stamp collecting.

Ends

Copyright Word of Mouth Media NZ 2006

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