Luxist inform us that rare South American stamps, in fact the world’s most valuable private collection of South American postage stamps, will be offered in a public auction in New York City on June 5 and 6, 2008.

The auction includes for instance the only surviving example of the 1859 one-peso “tête-bêche,” which has a pre-sale estimate of $400,000 to $500,000.
There is also an envelope from Chile with a unique block of 14 lithographed 5-centavo stamps of 1854 which is $400,000 to $500,000.
From Colombia there is a letter with a 5-centavo and a10-centavo stamp dated September 1, 1859, the first day these very first stamps of Colombia were issued The pre-sale estimate is $200,000 to $300,000.
You’ll find out more information on luxist and on siegelauctions

A New York man paid a whopping $825,000 for one of the most prominently flawed stamps in U.S. history.

The rare 1918 24-cent stamp shows an upside-down Curtis JN-4 biplane known as Jenny, a World War I training aircraft that became an airmail plane.

The mint condition red, white and blue stamp is said to be one of the finest known existing stamps from the original sheet of 100 misprints.