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IMAGE OF THE DAY

Image credit: Reuters / Suzanne Plunkett

$9.5m for 1-cent stamp

, June 18, 2014

A British Guiana One-Cent Magenta postage stamp from 1856, the only one of its kind to still exist, sold for a record $9.5 million at Sotheby's on June 17.

The hefty price, which includes the buyer's premium, makes the one-inch by one-and-a-quarter-inch stamp (2.5 cm by 3.2 cm) printed in black on magenta paper the most expensive stamp ever sold at auction, and the most valuable object by weight and size, according to the auction house.

"It has always been the world's most-famous stamp. It is one of these objects around which a huge mystique has grown up over the years," said David Redden, the worldwide chairman of books and manuscripts at Sotheby's.

The previous record auction price for a single stamp was 2.87 million Swiss francs (about $2.2 million). It was set in 1996 for the Treskilling Yellow, a Swedish stamp that is a misprint of an 1855 shilling stamp in the wrong colour. - Reuters
 




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