Auction house David Feldman sold what has been reported to be the most expensive modern stamp ever sold: a ten Rupee Mahatma Gandhi stamp from India. The lot was printed in 1984 as a tribute to the famous political and ideological leader of the nation, who had been assassinated earlier that year.
It was one of Independent India’s first commemorative stamps, which were issued in four different denominations: 1 ½ Annas, 3 ½ Annas, 12 Annas and 10 Rupees. Only two sheets of 10Rs. stamps (a hundred examples) were overprinted with the word “Service” and one of them was sold on May 19 for a whopping €120,000, or €144,000 ($205,000) with buyer’s premium included.
The auction also featured a part of a Grand Prix winning collection of covers of Indian stamps that stirred quite a bidding war. In the end the collection went for €672,000 ($975,000).