China, 1912 Commemorating the Revolution and the Republic 1c. to $5, both sets, very good to fine unused mostly with part to much original gum, the Revolution $2 and $5 without gum, gum tones. Chan 184-207.
Estimate HK$ 8,000 - 10,000 Est. HK$8,000-10,000 (Image1)

Est. HK$8,000-10,000

China, 1912 Commemorating the Revolution 1c. to $5, fine to very fine and fresh mint, the 5c. has minor tone spots on reverse and the 50c. a diagonal crease. Chan 184-195.
Estimate HK$ 6,000 - 8,000 Est. HK$6,000-8,000 (Image1)

Est. HK$6,000-8,000

China, 1912 Commemorating the Republic 1c. to $5, fine to very fine and fresh unused with much original gum. Chan 196-207.
Estimate HK$ 5,000 - 6,000 Est. HK$5,000-6,000 (Image1)

Est. HK$5,000-6,000

China, 1913 London printing ½c. to $10, mainly fine and fresh unused with large part to much original gum., hinge remainders, the 3c. is the First Peking printing. Chan 208-210, 212-226, 231.
Estimate HK$ 8,000 - 10,000 Est. HK$8,000-10,000 (Image1)

Est. HK$8,000-10,000

China, 1913 London printing $10, fine and lightly cancelled by bilingual c.d.s. Chan 226.
Estimate HK$ 5,000 - 6,000 Est. HK$5,000-6,000 (Image1)

Est. HK$5,000-6,000

China, 1914-19 First Peking printing ½c. to $10, fine unused with part to much original gum, a few lower values have small faults. Chan 227-247.
Estimate HK$ 5,000 - 6,000 Est. HK$5,000-6,000 (Image1)

Est. HK$5,000-6,000

China, 1914-19 First Peking printing ½c. to $10, very good to fine appearance unused with much original gum, faults including the $2 and $5 with small thins, and the $10 with toned gum. Chan 227-247.
Estimate HK$ 3,000 - 4,000 Est. HK$3,000-4,000 (Image1)

Est. HK$3,000-4,000

China, 1914-19 First Peking printing ½c. to $20, blocks of four, the dollar values (except $10) are from the top of the sheet showing imprints and the $20 additionally with plate number "4", brilliant colours, well centred, fine and fresh appearance unused with part to much original gum, the dollar values have slightly flat gum, except the $20 which is unmounted mint with pristine gum, the 2c. and 3c. (creased) have toned gum, the 13c. has wax backing paper, the $5 has a few split horizontal perfs., and the $20, which is particularly fine and choice, is folded along the horizontal perfs. with some splitting. A desirable representation of one of the few surviving sets of blocks of four of the First Peking printing. Chan 227-248.
Estimate HK$ 400,000 - 500,000 Est. HK$400,000-500,000 (Image1)

Est. HK$400,000-500,000

China, 1914-19 First Peking printing 13c. brown, a half sheet of one hundred with full margins at top, right and foot, showing "Chinese Bureau of Engraving and Printing", plate number "2" and sheet requisition number "6 473", fine to very fine and fresh unused with practically full original gum, a few split perfs. and minor blemishes on reverse. Chan 238.
Estimate HK$ 1,200 - 1,500 Est. HK$1,200-1,500 (Image1)

Est. HK$1,200-1,500

China, 1914-19 First Peking printing $20 black and yellow, brilliant colour of the quintessential freshness, centred to foot still leaving design clear of perfs., fine to very fine unused with much original gum, hinge remainders. Chan 248.
Estimate HK$ 20,000 - 25,000 Est. HK$20,000-25,000 (Image1)

Est. HK$20,000-25,000

China, 1914-19 First Peking printing $20 black and yellow, good colour and well centred with intact perfs., fine appearance unused with part to large part original gum which is toned but not affecting the freshness from the front. Chan 248.
Estimate HK$ 15,000 - 20,000 Est. HK$15,000-20,000 (Image1)

Est. HK$15,000-20,000

China, 1923-33 Second Peking printing $10 rosy mauve and green, centred just to foot, fine unmounted mint. Chan 272.
Estimate HK$ 2,000 - 2,500 Est. HK$2,000-2,500 (Image1)

Est. HK$2,000-2,500

China, 1923 surcharge in red 2c. on 3c. blue-green, variety surcharge inverted, typically centred just to lower right, fine unused with usual "dried" original gum, a few faintly foxed perfs. and trivial greyish area on reverse at lower left. A distinctive and highly desirable example of this great rarity - one of the most elusive of the "Four Treasures of the Republic". Chan 280a.
Estimate HK$ 500,000 - 600,000

Expertisation: signed Roger Calves handstamp guarantee.

Provenance: Jane and Dan Sten Olsson. The Olsson collection contained two examples of the 2c. on 3c. with surcharge inverted.
Zurich Asia (Hong Kong), 25.6.2005, lot 272
Shanghai Auction Co. (Shanghai), 16.12.2007, lot 513
Interasia (Hong Kong), 29.6.2013, lot 851.

There are probably less than twenty examples known of this variety. According to contemporary reports, thirteen of these stamps were acquired at the port of Wanhsien in July, 1924, by Dr. A. Germain, the medical officer on the French gunboat "Balny". He applied two of these stamps to separate covers which he mailed to himself locally and sold ten mint stamps to the famous French stamp dealer Theodore Champion. In our auction records, we record fourteen unused examples and two examples used on cover. Est. HK$500,000-600,000 (Image1)

Est. HK$500,000-600,000