On the 10th of October the most expensive stamp in South Africa goes up for auction. The stamp is expected to sell for over a million rand at the at the Stephan Welz & Co Stamps, Postal History, Coins and Banknotes Auction in Johannesburg.
Let's take a closer look at why this stamp is worth so much. The infamous stamp is a "1913 Union King's head 5 shilling inverted watermark, reports Times Live. The stamp's value is between R800,000 and R1.2 million (US$80,000-US$120,000).
SavoTufegdzic, head of the stamps and coins department at Stephan Welz, said this stamp was the only known high-value Union King's head inverted watermark variety in existence.
"We believe that this one-of-a-kind stamp as well as others on sale will appeal to a new generation of Union buyers, as has been suggested by recent phenomenal international results for this type of material," reported Tufegdzic.
The stamp is amongst over 1000 lots of collectable postal history and philatelic treasures to be sold at the auction, which coincides with the national philatelic exhibition Jomapex 2013, taking place from October 9 to 13, 2013 at Museum Africa in Newtown, Johannesburg.