Saturday, December 04, 2010

Get Your Penny Blacks Now

Stanley Gibbons reports it sold out of the company's stock of Penny Blacks imported for the International Stamp and Coin Expo in Beijing last month and an order placed for 10,000 of the worlds first postage stamp by a major trade buyer.

Stanley Gibbons CEO, Mike Hall, is quoted in a Gibbons press release as saying, "We normally sell no more than a hundred penny blacks in any given year so this trade order creates a demand 100 times the normal market size.We might end up with most of the penny blacks in the world going to China. The Chinese are already paying twice our catalogue price to get their hands on them."

Stanley Gibbons Director of Sales and Marketing, Keith Heddle, goes on to say, "The Asian market is hungry for items with historical significance; almost as soon as a rare item becomes available in this market, it sells. As much as we would love these historical documents to stay in the UK for study by future generations and to preserve our heritage, there just isn't the demand for them here that we witness in India and Asia in particular."

According to the 2010 Asia-Pacific Wealth Report, compiled earlier this year by Merrill Lynch Global Wealth Management, the number of wealthy individuals in Asia has exceeded those in Europe for the first time, with the Japanese elite investing heavily in luxury collectibles. The report also highlighted the mania for memorabilia in places such as Hong Kong, Singapore and Taiwan according to the release.

To read the entire press release, click here.
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posted by Don Schilling at 12:01 AM