Largest holding of Christchurch exhibition stamps

Media release – September 10, 2008 – special for The Press

Largest holding in world of Christchurch exhibition stamps to go under the hammer next month

The largest holding in the world of 1906 Christchurch exhibition stamps will go under the hammer at Mowbrays international auction in Wellington next month.

One hundred sets or 400 Christchurch exhibition stamps are catalogued at $115,000 and estimated to sell for $35,000 at the October 11 auction , Mowbrays managing director John Mowbray said today.

``This is an investment lot and believed to be the largest holding of these stamps anywhere in the world,’’ he said.

``We’ll also have one of only 15 known in the world of the rare 1928 Kingsford Smith trans-Tasman first flight cover. This is worth about $4000.’’

The auction will also see New Zealand’s first ever stamp, the 1855 penny full face queen estimated around $7500 and an 1899 pigeongram which was flown by pigeon from Great Barrier Island should make about $2000.

New Zealand listed auction dealer Mowbrays notched up a record week of $NZ6 million of sales through its associates Bonham and Goodman associates in Australia.

One night in Melbourne, a Leonard Joel art auction sold $A489,000 and the next day Leonard Joel sold $A206,000 of jewellery. That evening 500 metres down the road Bonham’s and Goodman sold $A387,000 of jewellery and the following day it sold $A4.9 million at an art auction, narrowly failing to beat rival Sotheby’s total of $A5million the previous night.

Mowbray’s owns 20 percent of Bonham’s and Goodman which in turn owns Leonard Joel outright. In July another Mowbray’s associate, Webb’s art Gallery, set a New Zealand record auction price for a vintage motorbike which had been lying idle in an old barn. The 1915 Ariel 670cc Vee Twin bike sold for a record $35,000 in Auckland.

Note: Mowbray’s stock increased significantly in 2005 when they purchased the Stirling Bros stamp stock and buildings in Cashel Street in Christchurch in 2005.

ENDS

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