Lot 1435 o
New Zealand, 1872, Queen Victoria "Chalon Head", 2d vermilion, perf 12½, watermarked TH Saunders (double lined capitals), showing a portion of "D" in "Saunders", light barred oval cancel, exceptional centering, rich bold color, small natural paper inclusion of no consequence, Extremely Fine, one of the finer examples of this scarce watermark variety. Scott No. 48 var.SG No. 138c £800 ($1,050).
Realized: $650