Cherrystone's first major auction of 2011 concluded yesterday, February 9 in New York with nearly 1,500 lots of US and World stamps and covers going under the hammer.

Highlights include pieces from the PRC (People's Republic of China) and Imperial China continuing their upward trend, ahead of Interasia's exciting sale.

Two examples included a 1962 Mai Lan-fang souvenir sheet, hinged in two places, with slight overall and even gum toning and the usual light wrinkles and indentations, tiny corner creases. Overall this is a very fine example of this popular sheet, and bidders were so enthused that they surged past the catalogue listing of $7,500 to offer $17,000 for the piece before the hammer fell.

Mai Lan fang souvenir sheet

A set (not a block) of China Formosa 1888-89 20ca Horse and Dragon, die proofs in brown, red brown, yellow brown and green likewise sold for $14,000.

Perhaps surprisingly however, they were outstripped by extremely rare Columbian stamp pairs of the 1859 20c blue.

Firstly, a vertical tete-beche (ie inverted relative to each other) pair containing the inverted transfer error, unused with original gum impressed bidders.

With margins all around including frame line and part of adjoining stamps at right, this is one of only about four examples known in mint (and only one in used) condition. Previously, a block of eight containing an inverted transfer was sold for $95,000 plus buyer's premium in the 2008 "Islander Collection" sale. Here the pair achieved $32,000 against a $25,000 listing.

1859 5c 20c se-tenant Columbian stamp pair

Better still, the 1859 5c and 20c blue, se-tenant (different types juxtaposed) horizontal pair containing the 5c transfer error, unused with its original gum and margins all around showing parts of frame lines on all four sides did even better against its $25,000 listing.

A major gem rarity from Colombia, one of only four such recorded pairs, listed but unpriced in Scott's catalogue and once a part of the collections of Ferrary, Caspary and Lilly it achieved $40,000.