Nation/City

1948 Gandhian stamps sold for Rs 4.14 Crores

1948 Gandhian stamps sold for Rs 4.14 Crores

A set of stamps picturing Mahatma Gandhi has recorded a sale for £500,000 which is approximately ₹4.14 Crore. According to Stanley Gibbons, a Jersey, UK-Based dealer, “this set is one of the important and most demanded stamps of Indian Philately.” The stamp strip has four ten-rupee stamps, coloured as purple-brown and emblazoned with the word “Service” on it, to be used by then governor-general secretariat for the official use. This is the remaining single one-of-its-kind stamp and exists only in private collections. Last year, the same Gandhi stamp single, though, was sold by Stanley Gibbons for £160,000 in Uruguay. Again, in March 2016, an Indian stamp with Queen Victoria’s head inverted had been sold for £110,000. These successful auctions indicate that the market of Indian Rarities is still hot and will remain the same till the wealthy investors and international clients are there to own these historic assets. But as highlighted by the Indian Collectible Market, there has been a pretax loss of £29 million due to the finical restructuring and discovery of errors in its accounting methods.