That's $20,530 for a one-penny stamp

Stamp and collectibles dealer John Mowbray examines a one-penny, claret-coloured stamp which sold for $20,530 at a Wellington auction at the weekend.

Copies of the stamp were originally sold between November 1906 and April 1907 to mark the Christchurch Exhibition. About 240,000 were made but most were destroyed, making this one rare.

A mint English Penny Black stamp was bought this month for a record $188,311 plus premium.