AFP

NEW YORK

An incredibly rare 19th century postage stamp, a tiny one-cent magenta from British colonial Guyana, sold for $9.5 million in New York on Tuesday, setting a new world record. Bidding began at $4.5 million and it took just two minutes to sell the stamp to an anonymous bidder on the phone, although the auction house Sotheby’s had valued the tiny specimen of British colonial memorabilia at $10-20 million. ‘With the premium the stamp has just sold for approximately $9.5 million, which means it has set a new world record price for a stamp,’ David Redden, Sotheby’s director of special projects, told a packed room in New York.