Gandhi stamps sold at 500000 pounds at auction in UK

Regolare Commento Stampare

It's the highest sum ever paid for a single Indian philatelic item, Gibbons said, with the strip of four 1948 Gandhi 10-rupee Purple-Brown and Lake "Service" stamps sold to a private collector in Australia.

That's the highest price ever paid for a single Indian philatelic item. Only single stamps of this kind have previously been recorded to exist in private collections.

Stanley Gibbons sold one of these singles for £160,000 to a client in Uruguay a year ago.

The Indian stamps were particularly rare owing to the fact they were in a set of four. Only 13 of these stamps are known to be in circulation.

Today's sale follows on from a string of recent high-profile sales of Indian rarities, including the famous "Four Annas" - where the head of Queen Victoria is inverted - which sold for nearly £110,000 last month.

Keith Heddle, who is the managing director of investments at Stanley Gibbons said, "The market for high-quality Indian rarities has been strong for several years and is supported by the ongoing desire of the wealthy Indian diaspora and savvy global clients to own these historic assets".

A set of 1948 stamps picturing Indian leader Mahatma Gandhi has sold for a record half a million pounds ($598,000).

Shares in AIM-listed Stanley Gibbons rose in response to the sale, shooting up 9%, albeit just 0.8p, to 9.4p.