Michel #II, 1900 40pf Carmine and black, prepared but not officially issued, quite well centered displaying a luxurious color and freshness, mint with original gum and negligible trace of hinge; this example had once been mounted on one inside page of the 1901 "Unsere Marine in China" handbook by Alfred von Müller; very fine and exceedingly scarce, one of the great rarities of the fascinating foreign port offices in China; sold as is, with 2008 Experts & Consultants Limited (Poon, AIEP) certificate; (Scott $37,500; Michel €50,000). (Image)

Est. $7,500-10,000