$162,000 win for Victory of the Cultural Revolution stamp in Hong Kong

It wasn't just Bruce Lee that was flattening the rest at Dynasty, the pairing of Mao and Lin Biao did too

There were three stamps in a row which were estimated at up to HK$300,000 or over (about US$38,400): Two used copies of the famous 1968, 8f "Entire Nation Is Red" stamp (the first at HK350,000) and an unissued 1968, 8f Great Victory of the Cultural Revolution, Chairman Mao and Lin Biao.

The former was withdrawn on the day it was issued for failing to live up to its name and show that the entire nation was red. The stamp's designer Wang Wei Sheng neglected to fully colour in the island of Taiwan, over which China's Communist party claimed ownership.

"For a long time I was really worried that I would be jailed. Officials told me that it was a really big mistake, but in the end nothing happened." he later noted. At the weekend, both copies doubled their estimates.

Lot 1461, described as "a beauty" with "aneat, unobtrusive corner cancel" brought HK$747,500 whilst lot 1462, also described as "beautiful, highly attractive" but with a "minor internal wrinkle" brought HK$690,000.

However, both of those were put in the shade by the Great Victory of the Cultural Revolution.
Described as an outstanding example of this great rarity, the stamp is fresh and in excellent condition, with its original gum and having never been hinged. Very fine and choice, it is one of the key issues of the People's Republic of China.

Perhaps it is not surprising then that there was lively bidding for the piece which finally sold for HK$1,265,000 (US$162,000).

Boscastle Supplies for China Stamp Albums

Source: http://www.paulfrasercollectibles.com/section.asp?catid=80&docid=7810

Stanley Gibbons has produced respectable results for the six months

Stanley Gibbons has produced respectable results for the six months to the end of June.

The decline in margins is blamed on "flat" auction revenues, increased trading with rival dealers and a fall in sales of high-margin investment autographs such as a letter signed by Henry VIII to the Pope.

On the other hand, the tax charge remains at around 10 per cent because as much as half of the revenues now come through the company's recently enlarged Jersey office - which caters for high net worth investors.

But prospects are encouraging as Stanley Gibbons goes international. Last September, the company opened an office in Hong Kong and sales of rare Chinese stamps contributed £700,000 to interim turnover.

The Chinese also bought £200,000 worth of Penny Blacks and £300,000 of other collectibles, including gold sovereigns.

There was also strong demand for Indian colonial stamps and management is keen to tie-up a distribution deal in the US.

The somewhat lacklustre trading performance at home reflects, in part, modest price increases for many pre-1952 stamps. That situation may change following some spectacular stamp prices realised at Spink's Chartwell Collection auction in June.

Broker Peel Hunt forecasts 12 months' sales up from £26.4m to £29.7m, pre-tax profits of £700,000 higher at £5m and EPS of 17.4p (from 15.7p in 2010).

If you need any Stanley Gibbons products such Stamp Albums and Catalogues - Check out Boscastle Supplies Online Store

Source: http://www.investorschronicle.co.uk/Companies/ByEvent/Results/Analysis/article/20110808/04138194-c1ac-11e0-b8a0-00144f2af8e8/Steady-progress-at-Stanley-Gibbons.jsp