Rare stamp sells for $225,000 in Halifax

A rare stamp was sold at an auction in Halifax over the weekend for a record $225,000, including auction fees.

A rare stamp fetched a record $225,000  —  including auction fees  —  at an auction in Halifax over the weekend.

The "Twelve Penny Black" was issued in 1851. Just under 1,500 copies were made at the time.

It features a portrait of a young Queen Victoria.

Gary Lyon, owner of Eastern Auction, said the stamp is in mint condition.

"This is about as good as you're going to get. It's believed to be the finest known example, actually. It has incredibly nice colour for a stamp of that vintage. The colour is still exceptionally fresh. It was owned by a Canadian and it was sold to a Canadian, which is nice," he said.

Lyon said it was a record sale for his company.

Lyon said a stamp like the "Twelve Penny Black" only comes up for sale once in a lifetime. 

He said the high price reflects the stamp's mint condition as well as its rarity.

"The owner had owned this once since 1980, so that's 33 years," he said. "Collectors can own an individual item anywhere from 20 to 60 years, probably. Sometimes when you really want something you have to be aggressive because you may never see it again in your lifetime."