Money flowing from the mainland boosts not only stock prices but also the value of stamps.
A Journey through Hong Kong’s Postal History, a stamp sheetlet issued by Hongkong Post in April last year, now costs HK$2,000 (US$258) each, a hundredfold increase from its face value of HK$20, Headline Daily reported Thursday.
Some collectors bought a hundred pieces at a discounted price of HK$150,000, the report said.
According to data from Taobao, Alibaba Group’s flagship e-commerce website, the stamp was once sold for 2,200 yuan (US$354.82) on the mainland, while other shops were asking for as much as 7,300 yuan apiece.
Ng Kwai-lung, a veteran stamp collector who also runs a stamp collection company, said the stamp’s price fell below its face value shortly after it was launched because of a lack of interest in the local market, but mainland collectors, who took a fancy to the stamp, turned it into one of the most sought-after objects in philately.
While attributing the surge in its value to the recent stock market boom, Ng said scarcity of supply was also a major factor.
He said only 70,000 units of the stamp were issued and it has become increasingly difficult to find it in the market.
As the stamp collection fever continues, the Hongkong Post is scheduled to issue another set of special stamps, Government Vessels, on May 21, and the World Heritage in China Series No. 4: Honghe Hani Rice Terraces on June 18.
Ng predicts the prices of both sets would double or triple right after their release.
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