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World
 

Rare 19th-century postage stamp may fetch up to $25 million in New York

Published on Jun 17, 2014 11:35 PM
 

NEW YORK (AFP) - An incredibly rare 19th-century postage stamp, a tiny one-cent magenta from British colonial Guyana, goes under the hammer in New York on Tuesday, valued at between US$10 million and US$20 million (S$12.5 million and S$25 million).

Sotheby's says the current auction record for a single stamp is US$2.2 million and that, if it sells, it will become the world's most expensive as well as most celebrated stamp.

Made in 1856 in Guyana and measuring just one inch by 1.25 inches (2.54cm by 3.18cm), it is octagonal, printed in black ink and bears the initials of the postmaster.

Mr David Redden, Sotheby's director of special projects, has described the stamp as having "extraordinary fame and charisma" and being in remarkable condition given it is more than 150 years old.

 
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