A Labuan 1904-05 "high values" $10 brown was the biggest seller at Spink's recent Walter Bickly sale, smashing its pre-sale estimate.

It joins a $19,000 rare Indian stamp block among the highlights of the London auction house's recent sales.

Said to be a superb example of the rarest of Labuan stamps, Spink stated it was in fine, unused condition, without gum as is customary for these specimens.

Against a £10,000 high estimate, it finally went for a substantial £37,530.

Labuan is now a territory in Malaysia but was owned by Britain between 1904 and 1906, before it came under the jurisdiction of Singapore.

This $10 stamp is now worth $60,000

The sale of this stamp is further evidence that while the economic slowdown is still very much in evidence, that doesn't always prevent stamp collectors from parting with big sums when the right specimens come along.

After all, collectors don't know when a rare and potentially valuable stamp such as the Labuan will appear again at auction, although there are always exciting possibilities on the private markets.

Other notable sales from Spink this week included an Austrian Lombardy Venetia 1850 handmade paper 15c, red type III, complete with an attached St Andrews Cross, which made £19,980.

An 1868 British Post Office Abroad letter from Sonderburg via Trieste to Shanghai, which included an 1866 Prussia 10Gr Rose and a Northern District 1/2Gr, realised £14,130.

Watch this space for news of future auctions in the stamp world and all the latest sales results. We wouldn't want you missing out on a potential gem…

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