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Bull market on limited Year of the Snake stamps (2)

By Zhang Ye (Global Times)

14:18, January 07, 2013

The large edition of dragon stamps has steadily increased to its current market price of 410 yuan since it was issued on January 5, 2012. On that day, its price shot up from the face value of 24 yuan to 160 yuan, said Tao, adding that people are hoping to see this year's snake stamps appreciate in the same way.

Chinese stamps in limited editions are expected to be a lucrative new investing sector amid sluggish domestic stock and gold trading markets, he noted.

The latest data from the Shanghai Gold Exchange indicated that the trading price of gold dropped Friday by 2.58 percent.

Besides domestic investors' confidence in stamps, the high markup was partly driven by China's major stamp sellers, including CNP, who decide how many stamps to release into the market, a Guangzhou-based industry insider, who has collected stamps for eight years, told the Global Times Sunday on condition of anonymity.

People should not blindly follow the trend, given that the newly issued stamps are not easy to resell at a high price, he said.

Tao warned that the prices of the snake stamps are likely to drop after 10 to 20 days.

【1】 【2】

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