Inter-Asia stamp auction: Cultural Revolution stamps could hit HK$40 million

Cultural Revolution stamps auction in Hong Kong -- hold that yawn. We're talking rare pieces of art in miniature; thumbnails of history if you will, each telling a story of the tumultuous period in modern Chinese history.

The rarest of the lot is an unissued stamp that was meant to be destroyed. The stamp was made in commemoration of the 40th anniversary of the Jinggangshan Revolutionary Base and showed Chairman Mao and Lin Biao together on the balcony of Tiananmen. When Lin Biao was later deposed the stamps all but vanished. The one-half that remains only shows Lin Biao and it will be on auction this weekend.

Another highly-anticipated piece is the Whole Country is Red unissued large-format stamp. Previous pieces sold for HK$3.68 million.

The auction to be held this coming Sunday is the first time that all five of the Treasures of the Cultural Revolution collection will be on offer at the same time. Highly-sought Qing dynasty stamps will also be auctioned, such as the Small One Dollar Red Revenue stamp from 1897. Presale estimates of the auction total at HK$40 million.

The stamps will be on public display from January 29-29 at the Park Lane Hotel Hong Kong. www.interasia-auctions.com