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Stamp Fetches 7.3m yuan at China Guardian Spring Auctions

  Updated: 2012-05-22 Source: China Guardian  
 

中国嘉德2012春拍邮品拍卖现场.jpg

China Guardian concluded its 2012 Spring Auctions on May 21, realizing over 2 billion yuan. Among the highlights was an iconic stamp, which sold for 7,302,500 yuan at the Stamps and Covers session.

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The "Long Live Complete Victory of the Great Cultural Revolution" stamp

Estimated to be worth between 5 to 8 million yuan, the "Long Live Complete Victory of the Great Cultural Revolution" stamps became a screaming buy on the evening of May 21. Issued in 1968 when China was mired in the Cultural Revolution, they were immediately withdrawn due to a design mistake and few appeared in the public since, making them a public scarcity and much-sought piece among collectors. 

Guo Xueguang, general manager of the Stamps and Coins Department, said, “The withdrawn stamp is among the rarest ones in China. Only eight pieces of the same version exist now...It is brand new, rich in colors and in good condition. The record price reflects its scarcity and the fervent attention from the collectors. ”

In December 1968, the then Ministry of Posts and Telecommunications decided to issue a series of stamps in celebration of “the overall success of the Cultural Revolution”, which led to the production of the most known stamps in Chinese history - The Whole Country Is Red and Long Live Complete Victory of the Great Cultural Revolution. But the latter was immediately withdrawn due to a design mistake.

The 2012 Spring Stamps and Covers, Coins, Banknotes and Bronze Mirrors Auction realized a total of 79,900 yuan.

At the Banknotes session, a full set of first series renminbi (1948-1951) sold for 4.025 million yuan.

A set of ancient silver wine vessels sold for 4,197,500 yuan at the Ancient Bronze Mirrors, Gold and Silver Utensils session and a gilding official seal of Tibet from the Qing dynasty sold for 598,000 yuan. A bronze mirror with two phoenixes, collected by Xu Zhantang, took the first slot, raking in 4.025 million yuan, and two bronze mirrors designed with auspicious beasts and grapes sold for 402,500 yuan.

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A Bronze Mirror with Two Phoenixes

Gold and silver sycees, ancient coins collected by Hirao Sanpei, were well received. A small-size brass mother coin “宣统通宝” with two Chinese characters“宝泉”sold for 690,000 yuan, seven times its estimated price. A silver sycee of 50 Taels from the Tang Dynasty, collected by Gong Xizhao, sold for 494,500 yuan.

At the Modern Coins session, one of the highlights was the Hupoo ta ching silver pattern coin inscribed with the Chinese character for middle,"中", which sold for 391,000 yuan.

  
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