Buyer snaps up £550,000 stamp as safe haven investment

Britain's most expensive stamp, a 'plate 77 Penny Red', has been sold for £550,000 to a private client seeking portfolio diversification.

Rare stamp and collectibles dealer Stanley Gibbons brokered the deal for an Australasian-based private client, the group said. "I am a strong believer in asset diversification and consider collectibles to be a part of a truly diversified portfolio," said the buyer, who wished to remain anonymous. "I am confident this iconic stamp, as history has shown, will prove non-correlative to other asset classes and will be a valuable portfolio contributor for myself and my children," the buyer added. Stanley Gibbons said the sale demonstrates the increased appetite for tangible, historical ...