A world record was achieved at the world's largest stamp auction, which ended on Thursday, 27th November: The Rapp Auction House based in Wil (SG), Switzerland, sold a "Rayon I" stamp with completely framed cross dating back to 1850 for 348,000 Swiss francs (220,000 euros, 276,000 US dollars). It is thus the most expensive single Swiss stamp ever sold anywhere in the world.
As the most expensive object, a collection of Guatemala was traded at the auction for 357,000 francs.
Investors and collectors were unimpressed by the decline in the financial and art markets, which they clearly counterbalanced: With a total turnover of 17.9 million Swiss francs, the final result was well above the estimate made before the auction, being exceeded by 2.9 million Swiss francs. The stamp market has thus demonstrated an impressive level of resistance to the financial crisis.