Auction of stamps and coins million-dollar success

An O¯ taki business turned over more than a million dollars at an international stamp and coin auction at the weekend, with strong interest in military badges.

Bids were taken live and online. It was the first time that both auction events had live online bidding available.

Mowbray Collectables principal John Mowbray said “whilst the online aspect has now become an integral part of these auction events, the showing of people in the room demonstrates that some of the keen bidders still prefer to have the advantage of being able to closely inspect what they’re buying”.

Almost 600 lots of coins, banknotes and medals were on offer on day one and 769 lots of stamps were auctioned on the second day.

Mowbray’s director of coins, banknotes and medals David Galt noticed strong interest in New Zealand military badges.

“Some of the hard-to-get military badges were sold for up to four times their pre-auction estimate,” he said.

One of New Zealand’s $5 notes issued in the weeks following the change to decimal currency in the winter of 1967 sold for $380.

“Our sale of the day would have to be the 1939 South African eightcoin proof set — one of just 30 produced — it went to an overseas bidder for $32,700, about 70 per cent above its pre-auction estimate,” he said.

Prior to the stamp auction, Mowbray had estimated the value of one of the examples of New Zealand’s first postage stamps at around $8000 — on the day that particular stamp, produced in 1855, was sold for $11,300.

“And the special one penny stamp issued for the 1906 Christchurch Exhibition achieved over $13,000 and we sold some early New Zealand specimen stamps for over twice their preauction estimated value,” he said.

An example of New Zealand’s first postage stamp from 1855 sold for more than $11,000 at auction at the weekend.