Stanley Gibbons sell Britain’s most valuable stamp for £550,000 A single example of the elusive ‘plate 77 Penny Red’ has been sold by rare stamp and collectibles dealer, Stanley Gibbons, to a private client seeking portfolio diversification.
News-Antique.com - Apr 26,2012 - Just two months after acquiring a rare example of the legendary ‘plate 77 Penny Red’, described as “the finest used example in existence inside or outside a museum” by Stanley Gibbons Director of Great Britain Philately, the company has announced its sale to a private client in Australasia for £550,000.
The buyer, who wishes to remain anonymous, said, "I am a strong believer in asset diversification and consider collectibles to be a part of a truly diversified portfolio. I am confident this iconic stamp, as history has shown, will prove non-correlative to other asset classes and will be a valuable portfolio contributor for myself and my children".
The sale, which came through the company’s recently opened Hong Kong office, demonstrates the increasing demand for tangible, historical assets as a store of wealth.
“Stamps are increasingly being recognised as a safe-haven investment for those seeking diversification to secure and grow their wealth over the medium to long-term. For investment purposes rarity and condition are crucial factors and this example of a plate 77 Penny Red excels on both counts” commented Stanley Gibbons Investment Director, Keith Heddle.
“With our recently launched GB250 Index showing an average compound return of 13.4% over the past ten years we are confident that this philatelic rarity will show good returns for our client over the medium to long-term.”