Monday, March 20, 2023

Rare Canadian stamp sells for less than $300K

A rare Canadian postage stamp sold for $292,500 at an Ottawa auction last weekend.

Issued 170 years ago in 1851, the 12 pence block stamp up for auction is believed to be in mint condition, one of only two of its kind in such condition, and features an image of Queen Victoria.

Peter McDonald, general manager of Sparks Auctions, said that only about 1,450 had been sold at the time, making it a rare gem.

While its sale price didn’t break a world or Canadian record, McDonald’s said last Saturday’s buyer got a good deal.

“It’s a great price for this stamp. It’s a great price for a Canadian stamp,” he said.

“We are very proud to have the opportunity to sell this to a collector. And we are excited to make sure the new buyer gets their hands on it.”

McDonald said hundreds of bidders participated in the Jan. 21 sale online and from around the world. “An enthusiastic group of bidders” showed up at the Ottawa office, he said.

“The pre-offering brought the stamp to a starting price of $150,000 and it escalated very quickly. In an instant, it was over,” McDonald said.

In 2017, the auction house sold a similar stamp with a 12-cent block stamp that sold for $327,000 on a sheet.

According to a 2009 report, another 12-cent stamp sold for US$260,000 in New York.

Ottawa Morning6:08What is the history of the rare 12-cent block stamp?

The third postage stamp to be used in Canada will be auctioned later this week. We hear the story of a piece of paper worth at least $150,000.

McDonald said that 12 cents a ticket was expensive for its time. At today’s prices, they would cost about $16.40, he said.

MacDonald said the collector who sold this particular stamp will hold another Sparks Auctions “very high quality collectibles” sale on February 11.

Nation World News Desk
Nation World News Desk
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