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click on the image for full size image and description Feature Lot.

Lot 1 - 1903 4d deep blue & deep brown Lake Taupo with centre inverted, on bluish Cowan paper. NZ over star wmk, p14, 2 partial circular date stamp strikes ‘’Picton/2 MR 04’’. Insignificant tear at lower left margin. SG322c. CP E12cz. Provenance: Ex. J. Denne.... Currently NZ$ 225,000

(Link to this Lot in the Catalog for Bidding)


Mowbray Collectables Sale - 47

Public Stamp Auction - September 20, 2025

Welcome to our 47th sale. This bi-annual auction comprises 912 lots with estimates over $1.5M. We are privileged to feature several significant collections, and features material from over 100 vendors.

We are delighted to offer New Zealand’s rarest stamp as lot 1 in our auction – The legendary 4d Lake Taupo Invert is New Zealand’s rarest and most celebrated philatelic error. This iconic stamp features a dramatic inverted centre, the scenic depiction of Lake Taupo printed upside down within the frame, resulting from a remarkable printing mishap during the bicolour production. The only example known, the stamp is the ultimate rarity in New Zealand’s classic issues. This is listed as SG 322c in the Stanley Gibbons catalogue and widely regarded as NZ’s most valuable stamp. A once in a generation opportunity to acquire the pinnacle of New Zealand philately. This stamp is offered on behalf of New Zealand Post, and has a reserve of NZ$225,000.

Other highlights include:

  • Amazing Postal History (about 50 lots) and FFQs (about 170 lots including 2 SG 1s - lot 336 & 337) and many scarce experimental separations. The majority from the estate of John Gahagan of Napier.
  • The first part of Iain Luton’s collection of Great Britain featuring many 1d Blacks including lot 786 with over 300 1d Blacks, estimate $20,000.
  • 250+ World collections including over 50 New Zealand.
  • Over 430 New Zealand lots including 1d Claret Christchurch Exhibition (lot 618) and 35/- Arms (lot 705).
  • Over 100 Great Britain lots, nearly all ex Iain Luton.
  • Ross Marshall’s 1980s Australia 1d GV Heads collection.

Some important information: :

  • Bid via Stamp Auction Network or directly at www.mowbraycollectables.com
  • The price listed is the minimum acceptable bid we will accept.
  • Buyers Premium of 17% (plus GST on buyers premium for NZ buyers only) will be added to the hammer price of each lot.
  • Unconditional guarantee that all lots are as described.
  • Approximate exchange rates at time of publishing and subject to change – NZ$1 = (subject to change) NZ $1 = UK 44p, USA 59c, Euro 51c, Australia 91c.
  • All bidders will receive an email after the auction (once results have been checked) advising the outcome of their bids.
  • Successful bidders will receive an invoice by email. Payment methods accepted are credit card or electronic payment to our New Zealand account – contact us for details (please note PayPal not accepted).
  • Please contact us for any queries you may have at auctions@mowbrays.nz.

Session Information:
Session 1: September 20th 11.30am local NZ time (September 19th 18:30 EST and 19:30 EDT) Lots 1-912
Bidding at StampAuctionNetwork stops 2 hours before the public auction (16:30 EST / 17:30 EDT September 19th)

To see the entire catalogue as a PDF file Click here

For more information please contact us at:

Mowbray Collectables
Private Bag 63000
Wellington 6140, New Zealand
Phone: +64 6 364 8270
Fax: +64 6 364 8252

To request more information by email: auctions@mowbrays.nz

Visit our Home Page at: Mowbray Collectables


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