Levi KeswickKey Takeaways:
- The 1865 96c. olive-bistre block of four, a rare Hong Kong stamp, was once auctioned for a record HK$6.4 million and is estimated to fetch between HK$7-8 million in its upcoming auction.
- The olive-bistre stamp, released in 1865, represents a color error that makes it a unique and highly sought-after item in the world of philately.
- The popularity and market value of rare Hong Kong stamps have fluctuated over time due to several influencing factors, including the growing popularity of Chinese stamps.
- Despite the market’s softening, extraordinary items like the 96c. block continue to command high prices and interest among collectors.
The Intriguing Story of the 1865 96c. Olive-Bistre Block
This is the tale of a unique stamp – the 1865 96c. olive-bistre block of four. Its existence can be traced back to a printing error that occurred in the Hong Kong Post Office in 1865. When a new batch of stamps arrived at the office, it went unnoticed that they were printed in an unexpected olive-bistre color, instead of the usual brownish grey.
What makes this printing mishap significant is that no overprinted ‘SPECIMEN’ versions of this stamp are known, indicating that it’s a genuine color error. The Post Office, despite discovering the mistake when the stamps were needed, was too late to correct the color variation. As a result, this error remained unpublicized due to the associated embarrassment.
From Rarity to Collector’s Prize: The 96c. Olive-Bistre Block’s Rise to Prominence
The cost of this stamp in 1865 was equivalent to sending a letter from Hong Kong to the US and back. Consequently, its high price led to little demand, and unused stocks were eventually pulped. This series of events left us with only forty-eight unused examples of the stamp and one unused block of four – a dream for collectors of rare Hong Kong stamps.
This distinctive stamp features a sketch of Queen Victoria by Sir Hercules G. R. Robinson, then governor of Hong Kong, adding another layer of historical importance and value to it.
The Unpredictable Market for Hong Kong’s Rare Stamps
Despite its historical and philatelic significance, the market for rare Hong Kong stamps, including the 96c. block, has softened in recent years. A mix of factors, including the waning popularity of Hong Kong stamps and the rising interest in Chinese stamps, have influenced this trend.
However, the decline in general interest doesn’t overshadow the intrigue and high price that exceptional items like the 96c. block can still command. As the rarity and error in this stamp’s origin add to its value, it remains a much-coveted acquisition among collectors.
The Auction and Beyond: A Sensational Sale
The upcoming auction, where the 96c. block is estimated to fetch between HK$7-8 million, is eagerly awaited. But it’s not just about this one stamp. The auction also includes the Qing Dynasty stamp collection of Japanese collector Meiso Mizuhara, hinting at a captivating event for philatelists.
A Glimpse into the Future of Rare Hong Kong Stamps
The fluctuating popularity of different countries’ stamps is a reality of philately. Currently, there’s an increasing interest, or “Chinese fever”, in the stamp-collecting circle. Yet, even with shifting trends and changing interests, certain extraordinary items continue to attract collectors’ attention.
The rise in prices of some Chinese stamps in recent years has indeed affected the focus on Hong Kong stamps. However, the value of rare and special items, like the 96c. block, remains high. Even among Chinese philately, collecting areas are affected differently, revealing a dynamic and ever-evolving market.
That said, the aging of keen collectors and a subtle change in collecting fashions may continue to impact the future of Hong Kong’s stamp market.
Philately as a Reflection of Changing Times
Collecting stamps isn’t just a hobby; it’s a reflection of history, culture, and changing times. The subtle shifts in popularity of stamps from different countries offer a unique window into the ebb and flow of interest in various cultures, historical periods, and even geopolitical situations.
In the case of the 96c. olive-bistre block, its fascinating origin story, coupled with its rarity, continues to spark interest and command impressive prices. However, as with all collectibles, its future value remains uncertain, hinged on ever-changing market trends, collector interest, and the unpredictable winds of time.
But no matter where the market goes, it’s safe to say that rare Hong Kong stamps like the 96c. olive-bistre block will forever hold a place in philatelic history, serving as tangible reminders of a past era and a testament to the enduring allure of stamp collecting.
As we look forward to the upcoming auction and beyond, we’re reminded that each stamp carries its own story, and it’s these stories that truly make the world of philately so endlessly captivating.
