A rare, bright red stamp issued by the Qing government 116 years ago is expected to fetch HK$6.5 million to HK$8 million when it goes under the hammer this Saturday.
The Red Revenue Small One Dollar stamp issued in 1897, ranks among the world's dozen rarest stamps. Only 32 are believed to exist.
Initially a three-cent revenue stamp, they were used as postage stamps by the Qing government for its new national postal system and are considered by many to be the first true national issues of China.
They were printed using bright red ink - a colour denoting good fortune in Chinese culture. They were then stamped to show they were worth one dollar.
However, the Chinese characters in the overprint were considered too small, so a second one dollar Red Revenue stamp with larger characters was subsequently issued, unwittingly creating one of the great rarities in the world of philately.