Chinese New Year has also ushered in a new collectable postage stamp marking the Year of the Horse. They’ve been especially popular in China, selling out before the Spring festival even began. From Beijing, Grace Brown has more on how Chinese collectors are turning a fading hobby into a high-value investment.
In the age of email, you don’t hear much about stamps.But in China, they’re still selling strong - though not for posting letters. According to British stamp dealer, Stanley Gibbons, one third of the world’s collectors are in China.
This year’s Year of the Horse stamp has been a big hit.
The stamp company have just us that this year’s Year of the Horse stamp had already sold out well before Chinese New Year had officially begun. It was selling for 1.2 yuan - that’s about 20 U.S. cents. Considerably cheaper than the 1978 Year of the Horse stamp, which is now available for 3,800 yuan, or about 600 U.S. dollars. So clearly, even the vintage Horse stamps are still very much in demand.
In recent years, stamps have become an asset class in China - like jade, art and wine. Mao-era stamps - featuring phrases from his Little Red Book - can now sell for tens of thousands of dollars.
Chinese investors can even trade them via online platforms, similar to stock exchanges.One made more than 57 million yuan - or 9.2 million dollars.
These traders bought Year of the Horse stamps in bulk, weeks before the Spring festival.And are now selling them at a sizeable profit.
With no more Year of the Horse stamps to be printed this year, lunar fans will have to wait another 12 months for their next philatelic fix.