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The Courvoisier Archive Friday, April 20, 2007 at 17.00h Public Auction under the ministry of Me. RenĂŠ Pantet at Feldman Galleries in Geneva and live via the Internet

REGIONS OR SECTIONS British Commonwealth Africa Middle East

Asia

Latin America Europe & Colonies Staatsdruckerei Wien

PAGES 9 - 25 26 - 48 49 - 62 63 - 71 72 - 78 79 - 104 105-118

See also detailed Index, pages 120-121

Viewing Arrangements

Feldman Galleries - 175, route de Chancy, 1213 Onex, Geneva, Switzerland From March 26 By appointment: for reservations contact: Lydia Stocker Tel.: +41 (0)22 727 07 77

(weekend and late evening viewing by appointment) From April 16 General viewing: 09:00h-19:00h daily

COURVOISIER David Feldman SA, 175 route de Chancy, P.O. Box 81, CH-1213 Onex, Geneva, Switzerland Tel: +41 22 727 07 77, Fax: +41 22 727 07 78, E-mail: admin@davidfeldman.com, Web site: www.davidfeldman.com Direct line to auction room: +41 (0)22 727 07 70 or +41 (0)22 727 07 71 Representation in 25 cities on all 5 continents

Catalogue 1 The Courvoisier Printer’s archive The unique assembly of over 40’000 proofs and imperforates from over 60 countries Catalogue 2 Thailand Important specialised classic collection incl. Royal Mail (dual auction room in Bangkok) Catalogue 3 GB and British Commonwealth Extensive GB Line-engraved. Illustrated Covers, Important Australian States, Cape of Good Hope, India, Mauritius and specialised Seychelles Catalogue 4 Europe, Overseas and Collections Important France & Colonies, Romania, USA, Middle East, Japan, Polar, Olympics, all-world postal history, over 700 lots of general and specialised collections including important Scandinavia, huge stock of China 1971-86, investment lots, etc.

Catalogue 6 Rarities of the World Over 60 distinguished items Catalogue 7 Switzerland Single lots and collections Postage for Catalogues Each at CHF30 (Euro20/US$25/GB£15), Or download the pdf files online

AUCTION, April 16-21, 2007

FELDMAN GALLERIES, GENEVA or bid on-line LIVE from home View our catalogues at www.davidfeldman.com

David Feldman SA, 175 route de Chancy, P.O. Box 81, CH-1213 Onex, Geneva, Switzerland Tel: +41 22 727 07 77, Fax: +41 22 727 07 78, E-mail: admin@davidfeldman.com, Web site: www.davidfeldman.com Representation in 25 cities on all 5 continents

Auction Bidding Agents David Feldman SA

David Feldman SA are pleased to handle your bids, without fee, representing you as if you were present in the auction room.

However, if you would like to be represented by a professional bidding agent, we list below for your convenience a number of persons who regularly bid at our sales on behalf of clients.

(Further names of agents in other areas can be supplied on request.)

Australia

Hugh Freeman, Tel: +61 (0)2 9977 5635, e-mail: hhf@optusnet.com.au Bernard Manning, Tel: +61 (0)3 9859 7502 e-mail: berniemanning@optusnet.com.au

Germany

Jochen Heddergott, Tel: +49 (0)89 272 1683, Fax: +49 (0)89 272 1685, Mobile: +49 (0)172 7040 744,

e-mail: jh@philagent.com

Great Britain

Jean Lancaster, Tel: +44 (0)208 547 1220, Fax: +44 (0) 208 547 3739 Uty Rohrs, Tel: +44 (0) 207 834 0085, Fax: +44 (0)207 630 6534, e-mail: uty.rohrs@lineone.net Mary Weeks, Tel: +44 (0) 208 393 8217, Fax: +44 (0)208 393 1332, e-mail: mary@maryweeks.demon.co.uk

Israel

Dicky Refson, Tel: +972 (0)983 51202, Mobile: +972 (0)542 424404

Italy

Giacomo Bottacchi, Tel: +39 02 718 023, Mobile: +39 (0)339 730 9312 e-mail: gbstamps@iol.it

Switzerland

Hanspeter Thalmann, Tel: +41 (0)1 780 6163, Mobile: +41 (0)79 605 3729

USA

Charles E. Cwiakala, Tel: +1 (0)847 823 8747, e-mail: cecwiakala@aol.com Frank Mandel, Tel: +1 (0)212 675 0819 Larry Martin, Tel: +1 (0)713 781 6563, e-mail: crowncolony@compuserve.com Purser Associates Inc., Tel: +1 (0)203 748 2237, e-mail: missi@pursers.com

David Feldman SA, 175 route de Chancy, P.O. Box 81, CH-1213 Onex, Geneva, Switzerland Tel: +41 22 727 07 77, Fax: +41 22 727 07 77, E-mail: admin@davidfeldman.com, Web site: www.davidfeldman.com Representation in 25 cities on all 5 continents

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6. Because of persons who have missed lots because of auction speed, we strongly urge you to E-Mail us a listing of all lots or groups of lots on which you may bid (no obligation), so the auctioneer may be aware. We also suggest you to give us a phone number where we can reach you during the sale in case of any difficulties. If you need help in any way during the sale please contact our auction secre tariat at: tel. + 41.22.727.0770, which will connect you with the right person.

The Courvoisier Archive One of the legendary printers of hundreds of stamp and souvenir sheet issues for over 60 countries world-wide, the firm of Courvoisier S.A., located in the town of La Chaux-de-Fonds, Switzerland, created a tradition of innovation and the utmost quality in photogravure printing, whether for newspapers or magazines or, as this archive amply demonstrates, for philatelic products.

Founded near the time of the French Revolution, the company was built generation upon generation by the Courvoisier family to become one of the world's leading printers. The accompanying letter (next page) clearly demonstrates that this public auction represents the philatelic archive of Courvoisier S.A. IN ITS ENTIRETY and that with the exception of a few similar items that may have been kept by various postal administrations, each item in every lot is UNIQUE. The archive was created by drawing from the company's files of unfinished stamps, imperforate (as issued) and usually with progressive proofs showing each component colour of the final product, as well as (when available) unadopted essays or colour trials. From the sheets in their possesion, ONLY ONE of each item was retained, and it was neatly mounted into a series of uniform blue albums that numbered nearly 100 when they ceased stamp production a few years ago. To see a typical page, see the illustration on page 14.

Please bear in mind that though these archival lots look exactly like plate proofs (which in fact they are), the rest of what had been each sheet has been destroyed, and each item in every lot is therefore UNIQUE to the archive. Those who pursue thematic subjects, from Olympics to Birds to Flowers (see index, pages 121), will find much to choose from on offer herein. Collectors of specific countries, too, should check the index (page 120) for their favorites.

The number ot items (each UNIQUE to the archive) in each lot is given in parentheses at the end of each description. The estimates for each lot are necessarily wide-spread, but as a whole work out to an attractive price per item. In the absence of higher bids received before the auction, it is intended to start the bidding at the lower estimate. We hope that collectors as well as dealers will take advantage of this opportunity to balance the weight of older archival material (e.g. the famous Perkins, Bacon or De La Rue die proofs) with material from the last 75 years, world-wide We are presenting the lots by region, then in alphabetical order by country. Nearly all lots are illustrated, with more from each lot available on our web site, www.davidfeldman.com - where you can also register and practice bidding live via the internet during the auction.

Lot

Estimate €

The Courvoisier Printer's Archive

Friday, April 21, 2007 at 17h00

British Commonwealth

Australia

10000

1956 Olympics 2s Melbourne Eight examples of the 2s imperforate showing slightly differing shades, each with its four progressive proofs, neatly mounted on three album pages (40)

3’400 - 7’000

Ceylon

10001

1954 King Coconuts Lot on four pages showing issued and unissued colours and designs, imperforates and progressive proofs (36)

650 - 1’300

10002

1954-58 Postage and Revenue issue Lot comprising the proposed designs for the 1954 set, the actual imperforates with their progressive proofs plus also the 1958 redesigned values imperforate and with progressive proofs, on 12 album pages (147)

2’600 - 5’000

David Feldman SA

April 20, 2007

The Courvoisier Archive

Lot

Estimate €

CEYLON (cont.)

10003

1960 Prime Minister Bandaranaike The lot of issued and unissued designs and colours, imperforate and progressive proofs, also includes 1964 redrawn type “dark hair at temple” and Vantadage ruins on the same page, all on 8 pages (88)

1’300 - 2’600

10004

1950-2000 Collection Imperforates and progressive proofs of 36 sets and singles printed during this period, noted 1951 Star Orchid, 1955 Buddha Jayanti, 1957 Stamp Centenary, 1960 Refugee Year, 1962 Malaria Eradication, 1962 Scouts, 1966 Rice Year, 1998 Definitives, 2000 Olympics, etc. (433)

3’400 - 7’000

Cyprus

1988-92 Collection Imperforates and progressive proofs of 6 sets printed during this period comprising 1988 & 1992 Olympics, 1989 & 1990 Refugee Fund, 1989 French Revolution Bicentenial, 1990 30th Anniversary of the Republic incl. min.sheet, 1991 Mosaics (110)

10005

2’600 - 5’000

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8) 

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Guernsey

10006

1970 25th Anniversary of Liberation Imperforate set plus three progressive proofs for each value, further 5d value also also progressive proofs in a slightly different shade and properly defaced (16)

500 - 1’000

10007

1970-77 Collection Imperforates and progressive proofs of 25 sets printed during this period including 1970 Agriculture, 1970-1 & 1973 Christmas, boats, planes, lighthouses, UPU centenary, etc., an exceptional lot (427)

6’500 - 13’000

10008

1973-77 Uniforms The different values issued in 1973 and 1977 showing the imperforate singles (sometimes se-tenant with other value) plus their progressive proofs, on five album pages (74)

1’300 - 2’600

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

guernsey (cont.)

10009

1976-86 Europa Imperforates and their progressive proofs of the Europa issues of 1976, 1977,1979, 1980, 1982, 1983 and 1986 (111)

2’600 - 5’000

10010

1978-88 Collection Imperforates and progressive proofs of 16 sets printed during this period showing a wide range of themes and values incl. Royal Visit, Christmas, Boats, Fish, Renoir, etc., an exceptional lot (323)

6’500 - 13’000

10011

1979-81 Coins Imperforates of each value together with their respective progressive proofs, first the 1979 values between 1/2d and 20d, then 1981 10d, 11 1/2d, 50d, £1, £2 and £5 (100)

2’000 - 4’000



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

guernsey (cont.)

10012

ALDERNEY 1983-85 Collection 1983 Definitives and 1985 Airport sets, each value imperforate plus respective progressive proofs (four or five) for each value (101)

2’000 - 4'000

Hong Kong

10013

1997-2000 Collection The complete assembly of imperforates and progressive proofs of the sets and min. sheets printed during this period, noted the 2001 Stamp Exhibition min. sheets, 2000 Red Cross, 2000 Wetland (birds), 2000 Year of the Snake, etc. (252)

1’300 - 2’600

The currency for this auction is the Euro La monnaie utilisée pour cette vente est l’Euro Die Währung für diese Versteigerung ist Euro David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

India

ex 10014



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

India (cont.)

ex 10014 David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

India (cont.)

10014



1948 Mahatma Gandhi The exceptional group of 59 imperforates or progressives showing issued and unissued colours of the 1 1/2a and the 10R values, namely 21 examples of the 1 1/2a and 14 examples of the 10R with each time one or two progressives, also three photographic proofs as introduction. All mounted on specially printed Courvoisier archive pages, unique offering (59)

The Courvoisier Archive

April 20, 2007

15’000 - 30’000

David Feldman SA

Lot

Estimate €

India (cont.)

10015

1957 Peacock & Tiger Two unissued designs depicting Peacock and Tiger with their progressive proofs, neatly mounted on album page (14)

340 - 700

Isle of Man

10016

10017

1973-86 Collection The amazing complete collection of imperforates and progressive proofs of 25 sets printed during this period including the 1973 definitives, 1974 Churchill, 1975 Horse Trams, several Europas, 1986 Royal Birthday, all on 43 pages, an exceptional lot (479)

10’000 - 20’000

Jersey

1984-88 Collection Small group showing imperforates and progressives of the 1988 Operation Raleigh set plus a page of an earlier issue (perf.), also 1984 GIBRALTAR Europa included (42)

David Feldman SA

April 20, 2007

The Courvoisier Archive

650 - 1’300



Lot

Estimate €

10018

Kenya

1982-2000 Collection The imperforates and progressive proofs for this period, neatly mounted on 15 pages, themes incl. telecommunications, Christmas, London ‘90, birds, planes, trains and crops (305)

2’600 - 5’000

Malawi

10019

1985-2000 Christmas Imperforates and progressive proofs of the Christmas issues of 1985-6, 1993-4 & 1997-2000 (174)

1’000 - 2’000

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8)



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

MaLAWI (CONT.)

10020

1988 Birds The set of 15 values, each imperforate together with three, four or five progressive proofs respectively, all mounted on four pages (80)

1’000 - 2’000

10021

1984-97 Collection Group of imperforates and progressive proofs of 9 sets printed during this period, themes include 1984 & 1996 Butterflies, 1986 World Cup, 1987 Hippopotamus, UN, Unicef, 1997 Rotary (199)

1’000 - 2’000

Malaya

10022

1960-65 Johore, Federation of Malaya and Malaysia Three issues showing the imperforate design and the corresponding progressive proofs being 1960 Johore Coronation of Sultan, the large 1963 Freedom from Hunger set and 1965 Malaysia ITU, on seven pages, a great lot (89)

David Feldman SA

April 20, 2007

The Courvoisier Archive

2’000 - 4’000



Lot

Estimate €

New Zealand

10023

1967-83 Christmas Imperforates and progressive proofs of the Christmas issues of 1967, 1968, 1972, 1974, 1977-81 and 1983, years 1967 and 1968 were unissued, also 1972 NIUE included (152)

2’000 - 4’000

10024

1968-85 Collection Imperforates and progressive proofs of 12 sets and singles from this period, noted 1970 Cardigan Bay, 1972 Lake Scenes, 1975 Waterfalls, 1985 Bridges, interestingly the issued 1970 Wool design (by another printer) seems to have been borrowed from here, on 14 album pages (173)

2’600 - 5’000

Pakistan

10025



1962 Constitution and 1963 Cattle Show Imperforates and their progressive proofs mounted on two album pages, the 1963 Cattle Show stamp twice (12)

The Courvoisier Archive

April 20, 2007

340 - 700

David Feldman SA

Lot

Estimate €

Papua and New Guinea

10026

1967-83 Wildlife The selection of imperforates and progressive proofs of the wildlife sets from this period comprising 1960 Bird of Paradise, 1967 Frogs, 1970 Mammals, 1971 Reptiles, 1977 Lizards, 1980 Mammals, 1983 Turtles, on 11 album pages (162)

1’300 - 2’600

10027

1962-75 Sport The selection of imperforates and progressive proofs of the sports issues from this period comprising 1962 Commonwealth Games, 1966 South Pacific Games, 1975 South Pacific Games, on four album pages (62)

1’000 - 2’000

1962-82 Collection The exceptional balance lot of imperforates and progressive proofs of the sets and singles printed during this period including 1962 View of Rabaul, 1964 Ballot, 1965 South Pacific Conference, 1967 War Battles, 1975 Independence, also flowers, agriculture, aviation, early missionaries, coins, etc., on 44 pages (577)

4’000 - 8’000

10028

You may participate directly in the auction, bidding by Internet at www.davidfeldman.com David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Papua and New Guinea

10029

1963-87 Culture & Artifacts The selection of imperforates and progressive proofs of the various issues with this theme comprising 1964 & 1965 Carved Heads, 1966 Myths, 1968 Headdress, 1971 Dancers, 1976 Bougainville Art, 1977-78 Headdress, 1980 Arts Festival, 1984 Ceremonial Shields, 1985 Nombowai artifacts and 1987 War Shields, on 16 pages (268)

2’000 - 4’000

10030

1964-65 Birds The beautiful Birds set of 11 from 1d to 10s, each value imperforate with its progressive proofs, on three album pages (55)

1’000 - 2’000

10031

1966-79 Insects Mostly Butterfly sets printed during this period in imperforates with corresponding progressive proofs, being 1966 Butterflies, 1967 Beetles, 1975 Butterflies, and 1979 Moths, on 9 pages (146)

1’300 - 2’600



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Papua and New Guinea (CONT.)

10032

1966-86 Birds The selection of imperforates and progressive proofs of the Birds issues from this period comprising unissued 1966 Bird of Paradise, 1967 Parrots, 1970 Birds of Paradise, 1973 Long format, 1974 Large Size, 1977 Pigeons, 1981 Kingfishers, 1984 Bird of Paradise and 1986 Ameripex issue, on 14 pages (186)

2’000 - 4’000

10033

1970-85 Sea Wildlife The selection of imperforates and progressive proofs of the sea wildlife issues from this period comprising 1968 Seashells, 1976 Fishes, 1978 Slugs, 1981 & 1982 Seashells and 1982 & 1985 Coral Reef, on 15 pages (247)

2’000 - 4’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Papua and New Guinea (CONT.)

10034

1973-74 Panorama Set The set of 19 values imperforate with their corresponding progressive proofs, interestingly the first 6c had its face value changed to 8c, on seven album pages (105)

1’300 - 2’600

10035

1975-88 Ships The selection of imperforates and progressive proofs of issues from this period with ships as a theme, comprising the 1975 Ships of the ‘30s and the large 1987-88 Ancient Ships sets (114)

1’300 - 2’600

Scans of larger lots are available at www.davidfeldman.com



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

10036

10037

10038

Papua and New Guinea (CONT.)

1976 & 1981 Scouts Imperforates and progressive proofs of the two Scouts issues, on two pages (36)

400 - 800

Samoa

1971-81 Collection The complete archive of imperforates and progressive proofs of Samoan issues, the sets and singles comprise the 1971 Interpex, 1972 Judicial Conference, 1973 Airs, 1978 Seashells, 1979 Christmas and 1981 Seashells, on 10 album pages (126)

2’000 - 4’000

Singapore

1962-2000 Collection The complete group of imperforates and progressive proofs of the sets and singles printed during this period incl. 1962 National Day, also birds, flowers, wildlife, famous local persons, etc. (137)

David Feldman SA

April 20, 2007

2’000 - 4’000

The Courvoisier Archive



Lot

Estimate €

Africa

Algeria

10039

1965-1991 Artworks The group of sets and singles showing imperforates and progressive proofs from the following sets: 1965 &1966 Racim Miniatures, 1968 Rugs, 1969 Handicrafts, 1973 Embroidery, 1974 Copperware, 1975 & 1977 Mosaics, 1978 Jewelry, 1981 Paintings, also sets from 1982, 1983, 1984, 1985, 1987 & 1991 with similar themes, on 35 album pages (411)

2’600 - 5’000

10040

1966-87 Political Propaganda The group of sets and singles showing imperforates and progressive proofs from the following sets: 1966 Moudjahid, 1972 Independence Anniversary, 1973 Agricultural Reform, 1973 Vietnam, 1974 Four-year plan, 1974 South Africa, 1975 Independence, 1976 Western Sahara, 1976 Angola, 1976 Palestine, 1977 Namibia, 1976 Constitution, 1979 Anniversary, 1982 Independence, 1984 FLN, 1984 Anniversary, 1986 Charter, 1986 UGTA and 1987 Independence, fascinating (168)

1’000 - 2’000

10041

1967-1991 Fauna The group of sets and singles showing imperforates and progressive proofs from the following sets: 1967-69, 1975-76 & 1978 Birds, 1981 & 1991 Butterflies, 1984 Horses and 1986 Cats, on 13 album pages (193)

1’300 - 2’600



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

ALGERIA (cont.)

10042

1968-93 Flora The group of sets and singles showing imperforates and progressive proofs from the following sets: 1968, 1972, 1973 & 1977 Flowers, 1981 & 1983 Trees, 1982 Plants, 1989 Vegetables plus 1993 Flowers, on 11 pages (163)

1’000 - 2’000

10043

1971-76 Costumes 1971-72 & 1974 National Costumes sets plus 1976 Horsemen, each value imperforate together with four of five of its progressive proofs, neatly mounted on pages (83)

500 - 1’000

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8) David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10044

10045



ALGERIA (cont.)

1971-90 Sports The group of various sets commemorating Olympic, other international or national games comprising the following sets of imperforates and progressive proofs: 1971 Izmir Games, 1971 Stadium, 1972 Munich Olympics, 1978 African Games, 1980 Moscow, 1984 Los Angeles, 1985 National Games, 1990 Football Cup, some unissued designs officially defaced (123)

1’300 - 2’600

1963-2000 Collection Important group of imperforates and progressive proofs of sets and singles printed during this period showing a wide range of themes incl. all the Stamp Days, industries, roadworks, airs, boats, minerals, etc., some designs officially defaced together with issued ones, on 70 pages (643)

3’400 - 7’000

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

10046

Benin

1989-90 Collection Two sets depicting fruits, flowers and space, each value imperforate together with four progressive proofs (25)

200 - 400

Burkina Faso

10047

1988-2000 Wildlife Group of 16 sets and min.sheets from this period showing the following themes: aquatic fauna, 1993 Birds plus min.sheet, gazelles, later birds, dogs, farm animals, crocodiles, sparrows, reptiles, elephants, etc. (224)

1’300 - 2’600

10048

1990-95 Sports Imperforates and progressive proofs of 9 sets (incl. min.sheets) with the theme sports incl. 1990 World Cup (incl. min.sheet), 1993 USA World Cup, 1994 USA World Cup, 1994 Olympics, Can ‘96 event (60)

500 - 1’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10049

Burkina Faso (cont.)

1988-2000 Collection Imperforates and progressive proofs of 39 sets (incl. min.sheets) printed during this period showing a wide range of themes and values including costumes, numerous Christmas sets, flora, events, space etc. (527)

2’000 - 4’000

Burundi

10050

1992-94 Sports Imperforates and progressive proofs of 1992 Olympics, 1993 Football World Cup ‘94, and 1994 100th Anniversary of CIO (25)

10051

1992-96 Wildlife Imperforates and progressive proofs of several wildlife sets with mainly the 1992 Serwal min.sheets, 1993 Butterflies incl. min.sheet, 1993 Cattle, 1996 Birds and 1996 Fish (120)

1’000 - 2’000



The Courvoisier Archive

April 20, 2007

200 - 400

David Feldman SA

Lot

Estimate €

Burundi (cont.)

10052

1992-99 Christmas Imperforates and progressive proofs of the Christmas issues of 1992-95 and the 1999 issue covering three years, mostly min.sheets (60)

10053

1992-99 Collection The assembly of imperforates and progressive proofs of 11 sets printed during this period, themes incl. anniversary of independence, discovery of the Americas, mushrooms, musical instruments, rock stars, etc. (257)

1’300 - 2’600

340 - 700

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8)

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10054

10055

10056



Cameroon

1990-2000 Collection Imperforates and progressive proofs of 10 sets plus min.sheets printed during this decade with notably 1990 Football World Cup, 1992 500th Anniv. of the Discovery of the Americas, 1993 Football, 1995 Birds, 1996 Olympics, 1999 Joint issues, etc. (156)

1’000 - 2’000

Congo (Brazzaville)

1991-96 Collection Imperforates and progressive proofs of five sets printed during this period, themes themes are medicinal plants, butterflies, paintings, crocodiles and aquatic plants (89)

650 - 1’300

Congo (Kinshasa)

1960-85 Collection Imperforates and progressive proofs of 25 sets printed during this period, noted 1960 Independence showing color trials of the 1F50 value, 1961 Anniversary of Independence, 1962 Malaria Eradication, 1963 Air Congo, 1964 National Palace, 1966 General Mobuto, also Artwork, Scouts, UPU, UN, etc. (580)

The Courvoisier Archive

April 20, 2007

3’400 - 7'000

David Feldman SA

Lot

Estimate €

Congo (Kinshasa - cont.)

10057

1961 Dag Hammaskjöld The imperforates and progressive proofs of all the values in the set plus the min.sheet with face value of 25F, mounted on pages (25)

10058

1962 Birds The set of 14 different values, each value imperforate together with three progressive proofs, some extras with same design and value but showing slightly differing shades, also with progressive proofs, a total of 140 items (140)

2’000 - 4’000

10059

1964 Olympic Games The set comprising one 5F value, two 7F, three 8F, two 10F, two 20F and three 100F values, issued and unissued colours, mounted on four album pages (48)

1’000 - 2’000

340 - 700

Payment by Credit Card

Please contact us in advance if you wish to make payment by means of any of the following Credit Cards : VISA, MASTERCARD, EUROCARD, AMERICAN EXPRESS and DINERS CLUB.

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Congo (Kinshasa - cont.)

10060

1971 Insects & Butterflies The two sets showing various values and designs in mostly imperforates and progressive proofs, original designs of the Insects are from 1966, set finally was issued with the new currency (Li-Kuta) in 1971; Butterflies in progressive proofs plus imperforate and perforated examples, a great lot (192)

2’600 - 5’000

10061

1971-74 Wildlife Group of imperforates with their progressive proofs of sets and singles comprising the popular 1971 Monkeys issue, also 1975 Virunga National Park and 1974 Leopards, on 7 album pages (89)

1’300 - 2’600

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8)



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Djibouti

10062

1990-96 Sports Six sets or singles, each showing imperforate with its progressive proofs comprising 1990 20Km race, 1990 Football World Cup, 1992 Olympics, 1992 African Football Cup, 1994 20Km race, 1994 World Cup and 1996 Olympics (35)

10063

1990-98 Collection The group of a majority of sets and singles printed during this period showing for every value one imperforate together with its progressive proofs, subjects include wildlife, General De Gaulle, 500th anniversary of the discovery of the Americas, space, artwork, etc. (528)

2’600 - 5’000

340 - 700

Prices Realised Available by logging onto our website at: www.davidfeldman.com Please contact us if you would like a copy, enclosing Euro 10 or equivalent for postage.

David Feldman SA – PHILATELISTS w AUCTIONEERS 175, route de Chancy, P.O.Box 81, 1213 Onex, Geneva, Switzerland Tel. +41 (0)22 727 07 77, Fax +41 (0)22 727 07 78, Email: admin@davidfeldman.com David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Ethiopia

10064

1962-67 Birds The four issues from respectively 1962, 1963, 1965 & 1967, showing each value imperforate plus its three progressive proofs, on 9 album pages (125)

2’600 - 5’000

10065

1962-98 Collection The assembly of imperforates and progressive proofs of 28 different sets printed during this period incl. 1962 Ethiopian UN contingent, 1963 Empresses, 1964 Roosevelt, 1964 QEII visit, also costumes, paintings, artworks, jewelry, etc. all on 56 pages (740)

4’000 - 8’000

10066

1965 Views & Portrait Group of imperforates and progressive proofs showing 17 different values and designs, each with three progressive proofs, all mounted on pages (69)

650 - 1’300



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Ethiopia (cont.)

10067

1973 Scouts The nine progressive proofs “all in one” plus final se-tenant designs imperforate, (10)

500 - 1’000

10068

1974-75 Fauna & Flora 1974 Wild animals, 1975 Flowers and 1975 Butterflies, showing for each value an imperforate and four to six progressive proofs, on six album pages (87)

1’000 - 2’000

Additional images of larger lots may be available at www.davidfeldman.com David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10069

10070

Gabon

1989-2001 Collection The imperforates and progressive proofs for this period, themes incl. 1996 Olympics, wildlife and flowers, several min.sheets (424)

2’000 - 4’000

Guinea

1959-71 Collection The lot of imperforates and progressive proofs of the 7 sets printed during this period, namely 1959 UPU, 1960 Refugees, 1961 Wildlife, 1961 Three-year Plan, 1961 Lumumba, 1964 Water Pipeline and 1971 UNICEF, on 9 album pages (134)

1’000 - 2’000

Italian Somalia

10071



1953 UPU 75th Anniversary Airs: the imperforates with their progressive proofs, each value (1.20s, 1.50s and 2.00s) in four different proposed colours, on three album pages (36)

The Courvoisier Archive

April 20, 2007

500 - 1’000

David Feldman SA

Lot

Estimate €

Italian Somalia (cont.)

10072

1953 2nd Somali Fair, Mogadishu Postage and airs: imperforates with their progressive proofs in different colours and with values being 25c, 60c, 1.20s & 1.50s, all designs as issued with each value showing a selection of colours, mounted on two album pages (36)

500 - 1’000

Ivory Coast

10073

1988-2000 Collection The imperforates and progressive proofs for this period, themes incl. forestry, endangered species, 1990 Banknotes, 1991 Ships, 1993 Flora, 1994 Definitives, 1997 Endangered Species, 1999 UPU (244)

1’300 - 2’600

Liberia

10074

1997-98 Lady Diana Imperforates and their progressive proofs of a number of min.sheets in memory of Lady Diana, in one album (125)

David Feldman SA

April 20, 2007

The Courvoisier Archive

1’600 - 3’400



Lot

Estimate €

Libya

10075

1962-64 Scouts & Red Cross Group comprising imperforates and progressive proofs of the 1962 Scouts, 1963 Red Crescent and 1964 Scouts min.sheet issues, on 6 album pages (47)

10076

1962-93 Tripoli International Fairs The seven issues for the fairs of 1962, 1964-65, 1967-69 and 1993 showing imperforates and progressive proofs of each value, all on 16 album pages (167)

650 - 1’300

10077

1964 Birds The set of six with unissued values comprising one imperforate example of each plus three or four progressive proofs, last page showing the issued six values imperforate (38)

340 - 700

10078

1976 Olympics The set of three values plus the min.sheet, each imperforate with four progressive proofs, lot also includes the 1976 “against” Chess Olympiad, on four album pages (35)

340 - 700



The Courvoisier Archive

April 20, 2007

340 - 700

David Feldman SA

Lot

Estimate €

Libya (cont.)

10079

1990 World Cup The set of three values plus the min.sheet, imperforate plus each value showing four progressive proofs (20)

10080

1961-2000 Collection Imperforates and progressive proofs from 31 sets printed during this period including 1962 Malaria Eradication, 1964 Human Rights, 1965 UNESCO, 1990 21st Anniversary of the Revolution incl. min.sheet, 1992 Fishes, etc. (738)

2’600 - 5’000

260 - 500

Morocco

10081

1965-67 Sea Wildlife Imperforates and progressive proofs neatly mounted on pages from the 1965 Sea Shells set and 1967 Fish, on five album pages (61)

500 - 1’000

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8) David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Morocco (cont.)

10082

10083

1966-77 Red Crescent The group of nine semi-postal sets showing the final imperforates (often se-tenant) as well as the progressive proofs, on 10 album pages (142, se-tenants counted as two)

1’000 - 2’000

1964-2001 Collection Imperforates and progressive proofs from 48 sets printed during this period incl.

1964 Flowers, 1965 Orchids, 1968 Coins, various Hassan II sets, 1972 Wildlife, etc. (604)

3’400 - 7'000

Ruanda Urundi

10084



1961 Collection Two sets; 1961 Leopard and Lions (two 20F and one 50F imperf. plus progressive proofs) and 1961 Usumbura Cathedral incl.unissued colours and designs), on five pages (59)

The Courvoisier Archive

April 20, 2007

650 - 1’300

David Feldman SA

Lot

Estimate €

Rwanda

10085

1962-74 Collection Imperforates and progressive proofs from 13 sets plus min.sheets printed during this period including 1962 & 1963 Independence, 1963 Human Rights, 1963 UPU, 1963 Red Cross, 1965 JFK, 1966 Flowers, etc. (417)

2’600 - 5’000

10086

1965-67 Wildlife Group of imperforates and progressive proofs from the following sets: 1965 Kagara National Park, 1965 Butterflies and 1967 Snakes, on 12 album pages (176)

1’300 - 2’600

1966-68 Sports Lot with the 1966 World Cup set (range of colours for 25F value) plus 1968 Mexico Olympics set with imperforates and progressive proofs, the latter set with issued and unissued colours, also imperf. centerpiece of the min.sheet plus progressive proofs (76)

650 - 1’300

10087

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Rwanda (cont.)

10088

10089

1967 Birds The set of 10 values imperforate, each with four progressive proofs, also duplicates of the 20c, 60c, 80c, 2F and 3F, on 6 album pages (73)

650 - 1’300

Senegal

1966-96 Collection Imperforates and progressive proofs of 32 sets printed during this period including 1966 & 1967 Flowers, 1970 Scouts, 1978 Red Cross, 1982 Flowers, 1990 Scouts, 1995 Rotary, 1995 Sports, etc. (514)

2’600 - 5’000

Auction Bids The auction bidding steps are as follows: e 50-100 e 100-200 e 200-500

e 5 e 10 e 20

e 500-1000 e 1000-2000 e 2000-5000

e 50 e 100 e 200

e 5000-10 000 e 10 000-20 000 e 20 000-50 000

e 500 e 1000 e 2000

Bids in-between these steps will be adjusted accordingly to the next highest bid step.

The bidder is bound by his/her offer until a higher bid has been validly accepted.



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

10090

10091

Senegal (cont.)

1968-82 Wildlife Selection of various wildlife sets printed during this period showing imperforates and progressive proofs of 1968 Sealife, 1968 Birds, 1970 Horses, 1972 Sealife, 1972 Horses and 1972 Birds, on ten album pages (121)

1’300 - 2’600

Tchad

1993-94 Collection The imperforates and progressive proofs for this period, neatly mounted on 19 pages comprising 1988 Liberation, 1989 Air-cuts, 1989 Stamp Day, 1990 Officials, 1991 Democracy, 1991 Vaccination, 1992 Locusts, 1992 Nutrition, 1992 Doctors, 1993 Peoples’ Palace, 1993 OUA, 1993 Security Conference, 1993 National Parks, 1993 Schoelcher and 1994 African Central Bank (329

David Feldman SA

April 20, 2007

The Courvoisier Archive

1’000 - 2’000



)Lot

Estimate €

Tunisia

10092

1962-85 Costumes The 1962-63 Costumes set showing each value imperforate plus some progressive proofs, also 1985 Wedding Dress set included (68)

550 - 1’000

10093

1965-92 Wildlife The assembly of the imperforates and progressive proofs of various wildlife sets being 1965 Birds (airs), 1968 Wildlife, 1986 National Parks, 1992 Birds incl. min.sheet (184)

1’300 - 2’600

10094

1972-76 Olympics The two Olympic sets with each value imperforate together with their progressive proofs, interestingly the 1972 set shows the values se-tenant, also 1972 Chess Olympics included (28, each se-tenant counted as one)

650 - 1’300



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Tunisia (cont.)

10095

1961-69 Collection Imperforates and progressive proofs of seven sets printed during this period showing a good range of themes incl. coat-of-arms, 1967 & 1969 flowers, musical instruments, etc., all on 15 album pages (250)

1’300 - 2’600

10096

1970-79 Collection Imperforates and progressive proofs of 23 sets printed during this period showing a good range of themes incl. Unicef, Stamp Day, Human Rights, Telephones, Red Crescent, etc., on 27 album pages (240)

1’300 - 2’600

Payment by Credit Card

Please contact us in advance if you wish to make payment by means of any of the following Credit Cards : VISA, MASTERCARD, EUROCARD, AMERICAN EXPRESS and DINERS CLUB.

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10097

Tunisia (cont.)

1980-97 Collection Imperforates and progressive proofs of 41 sets printed during this period showing a good range of themes incl. 1980 Turin games, Independence, Human Rights, Red Crescent, Prehistory, etc., on about 60 pages (435)

2’000 - 4’000

Various Countries

10098



1968-97 Collection The group of imperforates and progressive proofs from a range of African countries comprising Madagascar incl. 1996 Olympics, Central African Republic, Mauritania incl. 1996 Olympics, Equatorial Guinea and the Comoro Islands (398)

The Courvoisier Archive

April 20, 2007

2’000 - 4’000

David Feldman SA

Lot

Estimate €

Middle East

Bahrain

10099

1984 Postal Services Centenary The set of three values imperforate plus 10 progressive proofs, mounted on one album page (13)

340 - 700

Iraq

10100

1939-58 Kingdom Period Lot of imperforates and progressive proofs of various proposed issues 1957 Royal Wedding, 1958 Brussels Exhibition and 1958 Agricultural and Industrial Exhibtion, on 9 pages (102)

2’000 - 4’000

10101

1957 Development Week The set of five values imperforate plus progressive proofs including four extra colours of the 1f and one extra colour of the 5s, on 4 album pages (39)

1’000 - 2’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Iraq (cont.)

10102

1957 Baghdad Fair The 10 fils value in various designs and colours, imperforate with progressive proofs, on three pages (24)

10103

1958 Development Week Three different designs for proposed Development Week issue of 1958, as imperforates and progressive proofs on four pages (46)

650 - 1’300

10104

1958-1960 Mothers’ Day Various unissued designs and colours for this proposed set, final design imperforate and progressive proofs (31)



The Courvoisier Archive

April 20, 2007

400 - 800

340 - 700

David Feldman SA

Lot

Estimate €

Iraq (cont.)

10105

1958-65 Republic Period Lot of imperforates and progressive proofs of various issues from this period, issued and unissued incl. 1959 Orange Tree, 1959 Harvest, 1960 Refugee Year, 1961 Deep Sea Terminal, 1964 Revolution of Ramadan, 1965 Prophet Mohammed’s Birthday, etc., on 18 pages (197)

2’600 - 5’000

10106

1959-60 Coat of Arms The colours and designs, imperforates and progressive proofs, variations shown with 40f face value for the issues of 1959 and 75f to 1d for the issues of 1960, on 9 pages (150)

2’000 - 4’000

10107

1959-61 Army Day Issues Lot of imperforates and progressive proofs of three annual Army Days issues, mostly issued designs and colours, on 7 pages (74)

1’300 - 2’600

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Iraq (cont.)

10108

1960-62 General Kassem & Anniversaries of 1958 Revolution Assembly of imperforates and progressive proofs of mostly issued sets incl. the 14th July sets of 1960, 1961 and 1962, all on 7 pages (80)

1’300 - 2’600

10109

1961 World Children’s Day The set of five imperforate plus corresponding progressive proofs, extra values of 10f (11) and the 30f (3) in unissued colours, on 4 album pages (50)

1’000 - 2’000

10110

1962-66 Army Day Issues Lot of imperforates and progressive proofs of annual Army Day issues, mostly issued designs and colours, on 8 pages (125)

1’300 - 2’600

10111



Jordan

1960-2000 Collection Imperforates and progressive proofs of seven sets and min.sheets printed during 1999 and 2000, also 1960 photographic proofs of unissued set (124)

The Courvoisier Archive

April 20, 2007

650 - 1’300

David Feldman SA

Lot

Estimate €

Kuwait

10112

1962 Telecommunications The two values (8f and 20f) imperforate, each with two progressive proofs, neatly mounted on one album page (6)

10113

1962 Golden Jubilee of Mabarakiya School Lot of various imperforates and progressive proofs showing issued and unissued designs. Interestingly, the portrait of Prince Abdullah was changed from the original project and the 25 fils was reduced to 20 fils for the high value. A fascinating group on four album pages (64)

1’300 - 2’600

260 - 500

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8) David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10114

10115

Kuwait (cont.)

1962 National Day The set of four values imperforate with a number of progressive proofs, second page shows extra 8f, 20f, 45f and 90f in slightly differing shades (25)

650 - 1’300

1979-95 Collection The exceptional assembly of imperforates and progressive proofs of 27 sets printed during this period with a range of themes including 1980 Hegira Century, various environmental days, 1982 Scouts, 1983 Pligrimage, Oil Company, Arab Shipping Co., 1987 World Maritime Day and 1994 Arab Cities, showing issued and unissued designs (310)

6’500 - 13’000

You may participate directly in the auction and bid by Internet at www.davidfeldman.com 

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Oman

10116

1979-95 National Day The assembly of imperforates and progressive proofs of the National Day issues of 1979, 1980, 1981, 1985, 1990 (incl. min.sheet), 1993 and 1995 (incl. min.sheet), all on 16 album pages (127)

3’400 - 7'000

10117

1982-85 Fauna & flora Lot comprising the imperforates and progressive proofs of the 1982 definitives with flowers, seashells, birds and animals plus 1985 Fishes of Oman set, on four album pages (88)

2’600 - 5’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Oman (cont.)

10118

1989 Omani Costumes The set of ten values imperforate, each with their five or six progressive proofs, and souvenir sheets with their progressive proofs as well, interesting retouch on the 40b together with abnormal, all mounted on 19 album pages (81)

2’600 - 5’000

10119

1980-99 Collection Imperforates and progressive proofs of 17 sets printed during this period including 1980 Charity stamp, 1980 Fifth Hegira Century, 1979-81 Armed Forces, 1988 Handicraft set and min.sheet, 1990 Ophiolite 1st and 2nd printings, 1994 Bu Said Dynasty, etc., a great lot (198)

5’000 - 10’000

Please Airmail your Bids as early as possible.

In the case of equal bids, the first bid received will take precedence.



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Qatar

10120

1966 4th Pan Arab Games The strip of five values imperforate plus five progressive proofs, on one album page (6)

10121

1966 UN International Cooperation Year Two blocks of four from the min.sheet plus five progressive proofs, on one page (7)

500 - 1’000

10122

1991-94 Collection The assembly of imperforates and progressive proofs of 16 sets plus min.sheets printed during this period, themes incl. Independence, World Day of Water, ILO, children’s drawing, broadcasting, football,etc., on 29 album pages (252)

5'000 - 10’000

David Feldman SA

April 20, 2007

The Courvoisier Archive

340 - 700



Lot

Estimate €

Qatar (cont.)

10123

1992 Olympics The two values imperforate plus five progressive proofs each (12)

10124

1993 Falcons The set of four values imperforate, each with its five progressive proofs, plus the imperforate min.sheet and its five progressive proofs, all on four album pages (30)

1’000 - 2’000

10125

1994-2001 Collection The assembly of imperforates and progressive proofs of 22 sets plus min.sheets printed during this period, themes incl. Independence, rock carvings, nurses, the important 1996 definitives set, revenues, castles, etc. (399)

5'000 - 10’000



The Courvoisier Archive

April 20, 2007

400 - 800

David Feldman SA

Lot

Estimate €

Qatar (cont.)

10126

1995-98 Wildlife The selection of issues from this period comprising 1995 Seashells, 1995 Gazelles incl. 3r min.sheet, 1997 Horses and 3r min.sheet, 1998 Insects incl. the two 2r min.sheet, 1999 Camels incl. 2r min.sheet, all as imperforates and corresponding progressive proofs (90)

2’600 - 5’000

10127

1998 Ancient Coins The two values in strips of five imperforate plus four progressive proofs each, includes extra series of the 2r which was not accepted, also 2r & 3r min.sheets with progressive proofs and rejected 3r, a great lot (33)

2’000 - 4’000

10128

1980-89 Collection 5'000 - 10’000 The selection of imperforates and progressive proofs of 13 sets printed during this decade showing a range of themes, both postage and revenue stamps incl. 1984 13th and 1988 17th year of Independence, 40th anniversary of the League of Arab Nations, Telecoms, etc. (194)

The currency for this auction is the Euro La monnaie utilisée pour cette vente est l’Euro Die Währung für diese Versteigerung ist Euro David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

1949 Airs All values imperforate plus some duplication with each showing also two progressive proofs, plus 12 photographic proofs, mounted on specially printed pages (54)

500 - 1’000

10130

1953 “Istanbulun Fethi” The set imperforate plus two progressive proofs each, also includes the min.sheet with and without the central 2L value, some extra unissued designs, a great lot (55)

1’000 - 2’000

10131

1958-60 City Views The three impressive sets printed between 1958 and 1960 showing views of major cities, the complete collection of the 5k and 20k values issued, all imperforate plus a few extras showing slightly differing shades, neatly mounted on 30 pages (363)

3’400 - 7'000

1960 Europa The set of the four values comprising imperforates plus two progressive proofs each, on one album page (12)

10129

10132



Turkey

The Courvoisier Archive

April 20, 2007

260 - 500

David Feldman SA

Lot

Estimate €

Turkey (cont.)

10133

1960 Olympic Games in Rome Two imperforate sets differing slightly in shades, neatly mounted on specially printed page (10)

10134

A B

1947-83 Collection Imperforates and their progressive proofs of 19 sets printed during this period including 1957 Izmir Fair, 1947 Dumlupinar, 1947 Vintners’ Congress, 1947 Railroad Congress, 1947 Lausanne Treaty, 1948 25th Anniversary of the Republic, 1949 Wrestling Championship, also UPU, boats, airs, flowers etc., with a number of photographic proofs included (275)

2’600 - 5’000

260 - 500

United Arab Emirates

10135

1979-96 Collection Assembly of imperforates and progressives proofs of six sets or min.sheets printed during this period showing various themes (107)

David Feldman SA

April 20, 2007

1’300 - 2’600

The Courvoisier Archive



Lot

Estimate €

United Arab Emirates (cont.)

10136

1990 Falcon The set of 14 values imperforate plus two complete progressive proofs and only changed background and changed black for the other values, on two album pages (48)

1’300 - 2’600

Yemen

10137

10138

10139



1961 Antiquities of Marib The set of 8 values plus two airmail values ranging from 1b to 1i, each value shown twice in slightly differing shades and with its two progressive proofs, on 5 album pages (60)

1’000 - 2’000

1961 Buildings The set of 3 values plus two airmail values, ranging from 4b to 16b, the airmail 6b value shown in four different versions of which one was issued, on two album pages (32)

400 - 800

1962 Nurses The set of four values imperforate plus four progressive proofs each, also another page with unissued 1961 King Ahmed essay (28)

340 - 700

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Asia

Nepal

10140

10141

10142

1956-2001 Collection The complete assembly of imperforates and progressive proofs of 38 sets and min.sheets printed during this period, incl. 6p from 1956 Coronation set, 1996 and 2000 Olympics, the issued and destroyed 1999 SAARC Summit stamp, also many useful thematics (341)

2’600 - 5’000

Philippines

1956-61 Collection The complete archive of imperforates and progressive proofs of the Philippines issues, the sets and singles comprise the 1956 University of San Tomas (unissued), 1958 President Garcia, 1958 Flag, 1961 Golden Jubilee, 1961 Tuberculosis, 1962 Malaria Eradication, 1963 Red Cross and 1963 Bonifacio Centenary, on 12 album pages (142)

2’000 - 4’000

Taiwan

1961 Industries The four issued values, each in two or three slightly differing shades, each final design having three progressive proofs, on three album pages (42)

David Feldman SA

April 20, 2007

650 - 1’300

The Courvoisier Archive



Lot

Estimate €

Taiwan (cont.)

10143

1962 Emperors Three complete sets, each value imperforate and with four progressive proofs, a fourth example of the $4 value included, on seven album pages (60)

2’000 - 4’000

10144

1965 Facial Paintings The set of four values comprising two $1, two $3, four $4 and two $6 imperforate plus for each their progressive proofs, on three pages (52)

2’000 - 4’000

10145

1965 Madame Chiang Kai-Chek Both values, each in four slightly differing shades, imperforate with related progressive proofs, on two pages (40)

650 - 1’300



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Taiwan (cont.)

10146

1967 Birds The set of six values comprising two examples of the $1 and $5, plus $2 and $2.50 all imperforate together with corresponding progressive proofs, on five album pages (56)

1’300 - 2’600

10147

1967 Handicraft The set of four values comprising two examples of the $1, $2.50 and $3 and four of the $5 values imperforate, all in slightly diff. shades plus their corresponding progressive proofs, all on three album pages (52)

1’300 - 2’600

10148

1970 Taiwan Animals The set of four imperforate plus their progressive proofs, on two album pages (24)

650 - 1’300

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Taiwan (cont.)

10149

1973-75 Chinese Folkore The three issues imperforate plus their progressive proofs, on four album pages (48)

1’300 - 2’600

10150

1972-74 The Porcelain Series I-IV The four sets, each comprising five values imperforate plus their corresponding progressive proofs, on seven pages, an exceptional lot (104)

3’400 - 7'000

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8) 

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Taiwan (cont.)

10151

1973 Ancient Paintings The two sets, each comprising the horizontal strip of five plus the $5 & $8 vakues, all imperforate together with their corresponding progressive proofs, most impressive (32)

2’000 - 4’000

10152

1975 Festival of the New Year The set comprising the $1 values in strip of five, the $2.50, $5 and $8 values all imperforate with corresponding progressive proofs, on four album pages (23)

1’300 - 2’600

10153

1975-77 Paintings Three paintings sets comprising 1975 Figures, 1975 Madame Chiang’s Paintings and 1977 “The Three friends of Winter”, all values imperforate together with their corresponding progressive proofs, a great lot on 6 album pages (58)

1’300 - 2’600

10154

1975-76 Ancient Bronzes The two sets showing similar designs with all values imperforate and their progressive proofs, on four album pages (43)

1’000 - 2’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Taiwan (cont.)

10155

1979-80 Jade Objects The two sets, each of four values, all imperforate together with their corresponding progressive proofs (48)

1’000 - 2’000

10156

1981-83 Ancient Chinese Enamel Ware The three sets of four showing each value imperforate together with corresponding progressive proofs, on six album pages (96)

1’300 - 2’600



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Taiwan (cont.)

10157

1989-90 Paintings The two sets of four imperforate plus their progressive proofs, on four album pages (48)

1’000 - 2’000

10158

1990 Tea Pots The set of five values imperforate plus the corresponding progressive proofs (29)

400 - 800

10159

1991 Peacocks The set and its min.sheet imperforate plus the progressive proofs, on four album pages (18)

340 - 700

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Taiwan (cont.)

10160

1992 Silk Tapestries The set and its min.sheet imperforate plus the progressive proofs, on five album pages (21)

10161

1964-93 Collection The assembly of imperforates and progressive proofs of 13 sets printed during this period with notably 1964 Industries, 1965 New York Fair, 1973 Flowers, 1992 Legends, 1992 Endangered Species, 1993 Ming Vases, 1993 Birds, etc. (314)

4’000 - 8’000

10162

1994-2000 Collection The assembly of imperforates and progressive proofs of 18 sets and min.sheets printed during this period with notably 1994 Invention Myths, 1994 Paintings, 1995 National Museum, 1997 Birds sheet, 1997 Hunting incl. rejected version, 1998 Joy in Peacetime, etc. (276)

3’400 - 7'000



The Courvoisier Archive

April 20, 2007

340 - 700

David Feldman SA

Lot

Estimate €

Thailand

10163

1961 King Bhumibol Adulyadej Group of proofs of which two designs resemble very much the 1961-68 definitives printed eventually by De La Rue, on one album page (12)

10164

1996-99 Collection The extraordinary assembly of imperforates and progressive proofs of sets and min.sheets printed during this period, practically all commemoratives incl. 1996 King’s Jubilee, 1997 Birds, 1997 Asalhapuja Day, 1997 Thai-Singapore joint issue, 1997 King’s 72nd birthday, 1999 Golden Wedding, 1999 Bees, etc. in two albums (516)

3’400 - 7'000

260 - 500

David Feldman Special Extended Payment Facility David Feldman S.A. (DF) may offer a special extended payment facility for buyers. In these cases, the buyer may choose to pay a minimum of 25% of the total invoice on receipt, and the balance over an extended period of 6 months, paying an equal installment at the end of each month. Interest plus charges of 1%, is debited to the buyer's account at the end of each month. When the special extended payment facility has been granted, the buyer understands that any claims regarding his purchases must be made within 30 days of the auction sale date, even though the lots may be held by DF awaiting full settlement of the account. Until delivery, lots may be examined by their respective buyers at the offices of DF.

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10165

Latin America

1950-60 Selection of Various Countries Imperforates and progressive proofs for MEXICO, Honduras (incl. Rotary), Peru and Guatemala, mostly unissued, all neatly mounted on pages (161)

1’000 - 2’000

Colombia

10166

1955 Hotel Tequendama and Church of San Diego The 5c value in different designs and colours, issued and unissued: 22 imperforates each with two progressive proofs, on 5 pages (66)

650 - 1’300

10167

1947-60 Collection Imperforates and progressive proofs of 10 sets printed during this period, noted 1950 Colombian Farm, 1954 St.Francis, 1951 Guillermo Valencia (slightly differing from issued), 1952 Cathedral of Manizales, 1955 Rotary (slightly differing), 1959 Miss Universe, etc. (172)

1’000 - 2’000

10168



Costa Rica

1949-60 Collection Lot of imperforates and progressive proofs from issued and unissued sets, all neatly mounted on pages, noted 1949 UPU airs set and 1960 WRY Uprooted Oak Emblem airs set, also a few photographic proofs (91)

The Courvoisier Archive

April 20, 2007

650 - 1’300

David Feldman SA

Lot

Estimate €

10169

Cuba

1960 Havana Conference of Underdeveloped Countries The set of four values with their progressive proofs plus also three values (1c, 2c & 6c) not issued and their progressives (63)

650 - 1’300

Ecuador

10170

1951-59 Collection Imperforates and progressive proofs of four sets, of which three were issued, comprising 1958 EXFIGUA airs, 1958 Paul Rivet air and 1959 Alexander Humboldt air, issued and unissued colours (53)

340 - 700

El Salvador

10171

1951 Constitution of 1950 The group of imperforates and progressive proofs showing both issued and unissued designs and colours, on seven album pages (98)

1’000 - 2’000

10172

1954 Definitives The group of imperforates and progressive proofs showing both issued and unissued designs and colours (of the many designs, only four were issued), all on 11 album pages (130)

1’000 - 2’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

El Salvador (cont.)

10173

1963 Fauna The set of 14 values including airmails, imperforate with their progressive proofs, some values present up to four times showing different shades, on six pages (110)

2’000 - 4’000

10174

1937-64 Collection The assembly of imperforates and progressive proofs of sets printed during this period, issued and unissued incl. 1937 Airs, 1957 and 1960 Flora, 1958 Hotel El Salvador, 1959 Presidential Visit, 1959 Apartment Houses, 1961 150th Anniversary of Independence, etc., on 27 pages (357)

2’600 - 5’000

Haiti

10175



1954-55 Famous Haitians Imperforates and progressive proofs of the 1954 150th Anniversary of Independence and 1955 Dessalines issue, on 11 pages (153)

The Courvoisier Archive

April 20, 2007

1’300 - 2’600

David Feldman SA

Lot

Estimate €

Haiti (cont.)

10176

1955 Cyclone “Hazel” The set of six values imperforate plus the progressive proofs and imperforates in sheets of 50 showing two types: with and without helicopter over map, all on ten pages, an amazing lot (6 stamps plus 8 imperforate sheets of 50, each with two progressive proof sheets)

1’000 - 2’000

10177

1960 Miss Haiti The assembly of imperforates and progressive proofs showing various combinations of designs and colours including issued ones, on five pages (57)

650 - 1’300

10178

1964 Olympic Games The set of three imperforate with progressive proofs plus extra unissued values in different colours, lot also includes 1958 Sylvio Cator sports set, all on five pages (60)

1’000 - 2’000

10179

1971 Football World Cup 1970 Group of imperforates and progressive proofs showing the two types of designs: ball and Jules Rimet cup, includes also min.sheet (30)

650 - 1’300

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Haiti (cont.)

10180

10181

1984 Olympic Games The set of six values imperforate and their progressive proofs, also 2G50 design for the min.sheet, on three pages (31)

650 - 1’300

1953-95 Collection Exceptional balance assembly of imperforates and progressive proofs of most sets and singles printed during this period, displaying a wide range of themes incl. wildlife, landscapes, national heroes, Alexander Dumas, aviation, ships, flowers, with strength before 1970: 71 pages (775)

3’400 - 6’000

Nicaragua

10182

1955-61 Collection Two issued sets, 1955 Rotary International imperforate and 1961 Orchids postage dues comprising each four progressive proofs (68)

550 - 1’000

Venezuela

10183



1950 Alonso de Hojeda Group showing general issue and airmail values from 5c to 1B in mostly issued designs, issued and unissued colours, on three album pages (34)

The Courvoisier Archive

April 20, 2007

400 - 800

David Feldman SA

Lot

Estimate €

Venezuela (cont.)

10184

1950 Forest Week The 25c value in different issued and unissued designs and colours, 25 imperforates each with two progressive proofs, on 7 pages (75)

1’000 - 2’000

10185

1951 Arms of States issues The lot of 103 imperforates, mostly in issued colours and values, showing the six different themes on a selection of arms and values (103)

1’000 - 2’000

10186

1950 Queen Isabella Seven different colours of the 5c, each with two progressive proofs, plus the issued min.sheet, on two album pages (22)

10187

1952 Virgin of Coromoto and Child The three issued values, each with their two progressive proofs, all in six slightly differing shades, on six album pages (54)

650 - 1’300

David Feldman SA

April 20, 2007

The Courvoisier Archive

400 - 800



Lot

Estimate €

Venezuela (cont.)

10188

1951-58 Collection The assembly of issued and unissued designs from this period with their progressive proofs where applicable, noted 1952 Grand Colombian Merchant Fleet, 1952 Barasquimeto, 1954 Bolivar’s Manifesto, 1954 Simon Rodriguez, 1955 Postal Convention, 1956 Buildings, 1956 Book Fair, etc., on 36 album pages (398)

2’600 - 5’000

Every Six Months!

Distinguished items are eagerly sought for our Autumn 2007 offer of

Rarities of the World If you have a suitable item, please contact us as soon as possible as this auction is always limited to a small number of lots. Special conditions can be considered. 

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Europe & Colonies

Belgium

10189

1947 Parcel Post, Crossbowman with Train Group of 12 items, being either 10F and 12F values, mostly in issued colours, plus photograph proof of the 8F (13)

400 - 800

340 - 700

Belgian Congo

10190

1949 UPU 4F Six imperforate singles showing slightly differing shades together with one photographic proof on album page, also further page with 9 photographic proofs of various unissued designs (16)

10191

1952 Flowers The set of 22 values imperforate, each with three or four progressive proofs, noted the 3.50F had its face value changed to 7F, ten values show duplicates, neatly mounted on 9 album pages (134)

2’600 - 5’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Belgian Congo (cont.)

1953-56 Various Proposed Designs Assembly of unissued designs with their progressive proofs depicting King Baudouin (four types proposed 1953-54), 1954 Congress and 1956 Pension stamps (198)

1’300 - 2’600

10192

10193

1959 Wildlife The exceptional group of imperforates and progressive proofs of this important issue, showing issued and unissued colours, a few extras with legend RUANDA URUNDI, all neatly mounted on pages (233)

10’000 - 20’000

10194

1959 Christmas Group showing issued and unissued colours and values imperforate, plus for each imperforate three progressive proofs (56)

650 - 1’300



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

10195

10196

Belgian Congo (cont.)

1961-62 KATANGA AND SOUTH KASAI The issues from these exotic secessionist states comprising the 1961 Katanga Carvings set imperforate, 1961 Katanga International Fair imperforate plus progressive proofs, same for 1961 Air Katanga, 1961 Semi Postals, 1962 Gendarmerie set, plus four pages of South Kasai (138)

1’300 - 2’600

Bosnia and Herzegovina

1997-2000 Collection The complete assembly of imperforates and progressive proofs of the sets and min.sheets printed during this period, noted 1995 Fauna & Flora, the Europa issues of 1996-2000, then 1996 Olympics, 1997 Trains, 1997 Mediterranean Games, 1997 Fauna, 1998 World Cup, 1998 Storks, 2000 Zeppelin, etc., in one album (751)

4’000 - 8’000

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8) David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10197

Faroe Islands

1987-92 Collection Imperforates and progressive proofs of 9 sets and blocks printed during this period, noted 1988 Flowers, 1988, 89 Europa sets, 1988 Meeting, 1989 Sports, 1990 Flag Day block, 1990 Whales, 1990 Paintings, 1992 Minerals, all on 11 pages (147)

2’000 - 4’000

Iceland

10198

1958-61 Old Government Building The four values issued between 1958 and 1961 (2Kr, 4Kr, 1Kr50 and 3Kr) showing three different shades of each, on two pages (12)

10199

1958-67 Flowers The selection of Flowers issues from 1958 to 1967 comprising a total of 73 items being either imperforates or progressive proofs, mostly as issued, on six album pages (73)

1’300 - 2’600



The Courvoisier Archive

April 20, 2007

200 - 400

David Feldman SA

Lot

Estimate €

Iceland (cont.)

10200

1960-70 Europa The Europa issues from this decade, imperforate issued designs and colours plus their progressives, all neatly mounted on 12 pages, some unissued values have been neatly defaced, a great lot (154)

2’000 - 4’000

10201

1961 175th Anniversary of Reykjavik Two imperforates of each of the two values (2Kr50 and 4Kr50) in slightly differing shades plus two progressive proofs for each (12)

10202

1961-70 Collection Imperforates and progressive proofs of 28 sets printed during this period including 1961 University, 1962 Submarine Cable, 1962 Buildings, 1963 Red Cross, 1964 Birds, 1965 Surtsey, etc., all on 33 pages (420)

6’500 - 13’000

10203

1964 Olympic Games The issued design, imperforate, in four slightly differing shades plus each time with two progressive proofs, on one album page (12)

David Feldman SA

April 20, 2007

The Courvoisier Archive

340 - 700

340 - 700



Lot

Estimate €

Iceland (cont.)

10204

10205

10206

1965 Sea Eagle & Girl in National Costume The two popular high values of 50Kr and 100Kr comprising 6 imperforates with three progressive proofs each, issued and unissued designs (24)

650 - 1’300

1970-79 Collection Imperforates and progressive proofs of 46 sets printed during this period including the Europa issues, UPU, unissued Millennium 1974 which later became Europa 1975, the 1978 1000Kr value, etc., all on 44 pages (378)

5’500 - 10’000

1980-94 Collection Imperforates and progressive proofs of 64 sets printed during this period showing a wide range of themes, values and sizes, incl. apparently all Europas, only a few sets issued after 1990 but includes the 1994 min.sheet, etc., on 63 pages (669)

6’500 - 13’000

You may participate directly in the auction and bid by Internet at www.davidfeldman.com 

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Luxemburg

10207

1938 Duke Sigismond Caritas issue The 42 imperforates showing various combinations of colours, all mounted on four album pages, last page showing six 35c singles with each one of the finally issued colours (42)

1’300 - 2’600

10208

1939 Mondorf-les-Bains, Allegory of Medicinal Baths The 57 imperforates mounted on seven album pages showing 13 different designs mostly in four different colours each, apart from final issued design which is in ten colours, a remarkable group (57)

1’300 - 2’600

10209

1946 Airs The 36 imperforates showing each of the three designs in 12 different colours, most of which were as issued, face values here of 1F, 4F and 50F (36)

1’300 - 2’600

10210

1946 Jean l’Aveugle Caritas Design in 5F+10F face value in 12 different colours plus one photographic proof, on one page (13)

David Feldman SA

April 20, 2007

The Courvoisier Archive

400 - 800



Lot

Estimate €

Luxemburg (cont.)

10211

1947 Michel Lentz Caritas Group showing issued and unissued colours for 3F50+3F50 value, each colour comprising two progressives and one imperforate (27)

800 - 1’600

10212

1947 General Patton and Graves in Hamm Two sets in issued colours, imperforate, plus two values with their progressives, also five photographic proofs (29)

800 - 1’600

10213

1948 Edmond de la Fontaine Caritas Group showing issued and unissued colours on different values, each colour comprising three progressives and one imperforate, also two photographic proofs (50)

1’300 - 2’600

10214

1948 Grand Duchess Charlotte Group showing issued and unissued colours for the 3F50 value, each colour comprising two progressives and one imperforate (42)

1’000 - 2’000



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Luxemburg (cont.)

10215

1949 UPU Group showing issued and unissued colours on different values, each colour comprising two or three progressives and one imperforate, the lot on nine album pages also incl. seven photographic proofs (79)

2’000 - 4’000

10216

1949 Michel Rodange Caritas Group showing issued and unissued colours for different values, each colour comprising two progressives and one imperforate, on four album pages incl. also one photographic proof (31)

1’000 - 2’000

10217

1949 Grand Duchess Charlotte Caritas Imperforate set plus two progressives for each value, also set of three imperforates applied on photographic proof as well as three further photographic proofs (13)

10218

1950-52 Caritas The assembly of three Caritas issues on 6 album pages showing issued and unissued colours on different values, each colour comprising two progressives and one imperforate, also one photographic proof of the 1950 issue (76)

2’000 - 4’000

David Feldman SA

April 20, 2007

The Courvoisier Archive

340 - 700



Lot

Estimate €

Luxemburg (cont.)

10219

1951 People of Europe Charter of Freedom Group showing issued and unissued colours on different values, each colour comprising two progressives and one imperforate (48)

1’300 - 2’600

10220

A B

1952 Stamp Centenary Group showing issued and unissued colours on different values, each colour usually comprising three progressives and one imperforate, on ten album pages (105)

2’600 - 5’000

10221

1952 Olympics Group showing issued and unissued colours on different values, each colour usually comprising two progressives and one imperforate (74)

2’000 - 4’000

10222

1953 Wedding Group showing issued and unissued colours for 1F20 or 2F values, each colour comprising two progressives and one imperforate (66)

1’300 - 2’600



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Luxemburg (cont.)

10223

1953 Candlemas Singing Group showing issued and unissued colours on different values, each colour comprising two progressives and one imperforate (42)

1’000 - 2’000

10224

1954 Caritas Group showing issued and unissued colours on different values, each colour comprising two progressives and one imperforate, on four album pages (48)

1’000 - 2’000

10225

1954 Winged “L” over Map Group showing issued and unissued colours for 2F or 4F values, each colour comprising three progressive proofs and one imperforate, the 4F as issued (12)

10226

1955 Caritas Group showing issued and unissued colours on different values, each colour comprising three progressives and one imperforate (80)

2’000 - 4’000

David Feldman SA

April 20, 2007

The Courvoisier Archive

260 - 500



Lot

Estimate €

Luxemburg (cont.)

10227

1955 Flowers Large group of either progressive proofs or imperforates, all as issued, on four album pages (63)

2’000 - 4’000

10228

1956 Flowers Four values, each comprising an imperforate plus four corresponding progressive proofs (20)

550 - 1’000

10229

1956 50th Anniversary of Esch-sur-Alzette The set comprising the imperforate plus its three progressive proofs (4)

1956-59 Caritas, the Arms issues The selection of the Caritas issues from 1956 to 1959 comprising a total of 161 items being either an imperforate or a progressive proof, on 11 album pages (161)

2’600 - 5’000

10230



The Courvoisier Archive

April 20, 2007

130 - 260

David Feldman SA

Lot

Estimate €

Luxemburg (cont.)

10231

1957-63 Collection Imperforates and their progressive proofs of eleven different sets printed during this period including 1957 Children’s Clinic, 1957 10th International Luxemburg Fair, 1959 Grand Duchess Charlotte, 1959 Flowers, 1961 Animal Protection and 1962 Europa, all on 15 album pages (161)

2’600 - 5’000

10232

1960-1962 Caritas, Princes and Princesses The exceptional assembly of these issues on 18 album pages showing issued and unissued colours on different values, each colour comprising two progressives and one imperforate (171)

2’600 - 5’000

10233

1971-79 Collection The assembly of imperforates and progressives of 52 different sets printed during this period including virtually all Caritas and Europa issues, also 1974 UPU Centenary, 1976 Olympics, 1976 USA Bicentennial, etc., all neatly mounted on album pages (542)

6’500 - 13’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Luxemburg (cont.)

10234

10235



1980-89 Collection The assembly of imperforates and progressives of 59 different sets showing vitually all sets and singles printed during this period, all in issued designs in colours, betters sets apart from the Caritas and Europa issues include 1984 and 1988 Olympics, thematics incl. sports, animals, transportations, etc., all neatly mounted on album pages (875)

6’500 - 13’000

1990-2001 Collection The assembly of imperforates and progressives of 84 different sets showing virtually all sets and singles printed during this period, all in issued designs and colours, great selection of themes incl. transports, communications, Olympics, Lions, Europa, animals, etc., mounted on album pages (1072)

5’000 - 10’000

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Monaco

10236

1942 La Famille Souveraine Eight sets of 15 values in different colours, respectively brown, lilac, orange-vermilion, dark green, olive green, sepia, lake and turquoise blue, spectacular group of 120 items

Poland

10237

10238

10239

4’000 - 8’000

1946 International Bureau of Education Five imperforate sets in the issued colours plus 3 photographic proofs, on 3 pages (18)

650 - 1’300

1948 Roosevelt, Pulkaski & Kosciusko The group of 17 imperforates showing slightly differing colours as well as issued, plus photographic proofs of sheet inscription and of min.sheet for the 120z value (19)

500 - 1’000

1948 Polish Culture The 500Z miniature sheet without serial number, neatly mounted on album page

David Feldman SA

April 20, 2007

The Courvoisier Archive

200 - 400



Lot

Estimate €

Portugal

10240

1943-45 President Carmona Lot of 147 proofs showing issued and unissued designs in a range of colours of what was to become the 1945 issue, lot also includes 8 photographic proofs of the 1945 “Navigadores” issue, all on 17 album pages (155)

1’300 - 2’600

10241

1945 Costumes The set of eight values from 10c to 3.50E with each value in 40 different colours or combination of colours for those printed in two colours, issued and unissued designs, neatly mounted on 20 pages, an extraordinary assembly (320 items)

5’000 - 10’000

10242

1946-49 AVIZ Set of eight values in different colours, sometimes progressive proofs when two colours were used, also group of unissued designs, and photographic proof of the min.sheet template, on 10 pages (86)

1’000 - 2’000

10243

1960 500th Anniversary of the Death of Prince Henry the Navigator The set of five values, each imperforate plus its four progressive proofs, comprising three 1e, two 2.50e, four 3.50e, three 5e, two 8e and two 10e, on 5 album pages (80)

2’000 - 4’000



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Portuguese Colonies

10244

ANGOLA 1951 Birds The famous Birds’ set imperforate plus for each value three progressive proofs, noted also duplicates of the 4a, 2a50 and 15a values, further three pages with examples of some unissued proofs (137)

4’600 - 10’000

10245

ANGOLA 1956 Costumes The set imperforate plus for each value four progressive proofs, also two further sets with progressive proofs in slightly differing shades, plus two pages of unissued designs, a great lot (208)

5’000 - 10’000

10246

CAPE VERDE 1951-2001 Collection Imperforates and progressive proofs of sets and blocks from this period, mostly as issued, showing a wide range of themes including birds, Olympics, flowers, fishes, all in two albums (735)

4’000 - 8’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10247

10248

10249

10250



Portuguese Colonies (cont.)

MACAO 1953-2001 Collection Imperforates and progressive proofs of sets and blocks from this period, mostly as issued, noted the 1953 Flowers issue including some extra material which was not issued (153)

2’000 - 4’000

MOZAMBIQUE AND ANGOLA 1948 Planes Circling Globe Imperforates in issued and unissued colours from this joint Angola/Mozambique set (10), plus photographic proofs in relation to this set, also unissued 1953 Angola animals (45)

650 - 1’300

PORTUGUESE GUINEA 1948 Definitives The lot of 144 colour proofs showing designs slightly differing from issued, also 11 photoessays made 2 years earlier, and photo of min.sheet with issued set affixed (156)

2’000 - 4’000

PORTUGUESE GUINEA 1953 Insects Set imperforate with two progressive proofs for each value, also two further sets with progressives in slightly differing shades, plus 2 pages of unissued designs, a great lot (144)

3’400 - 7'000

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Saar

10251

1956 International Fair at Saarbrücken Group showing issued and unissued colours of this 15F value, each colour comprising two progressives and one imperforate (48)

1’000 - 2’000

10252

1956 Stamp Day Group showing issued and unissued colours of this 15F value, each colour comprising two progressives and one imperforate (24)

800 - 1’300

San Marino

1971-79 Collection The assembly of imperforates and progressives of most sets and singles printed during this period, all in issued designs and in issued colours, a great selection of themes incl. birds, fruits, New York, Europa, arts, sports, Christmas, etc., on 61 album pages (657)

10253

David Feldman SA

April 20, 2007

The Courvoisier Archive

6’500 - 13’000



Lot

Estimate €

San Marino (cont.)

10254

1976 Olympics The issued stamp comprising perforated, imperforate and three progressive proofs (5)

200 - 400

10255

1980 Olympics The set of five values, each imperforate and with its three progressive proofs (20)

340 - 700

1980-91 Collection The assembly of imperforates and progressives of most sets and singles printed during this period, all in issued designs and in issued colours, a great selection of themes incl.

Europa, cities, sports, animals, space and planes, Christmas, etc., all on 58 album pages (522)

5’000 - 10’000

1996-2000 Collection The assembly of imperforates and progressives of most sets and singles printed during this period, all in issued designs and in issued colours, showing a wide selection of themes, as usual all min.sheets are counted as one item (342)

3’400 - 7'000

10256

10257



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

10258

Spain

1950 Franco Unissued design in different colours, each colour comprising two progressives and one imperforate, all on three album pages (30)

800 - 1’300

Vatican

10259

1989-2001 Collection The exceptional assembly of imperforates and progressives of most sets and singles printed during this period, all in issued designs and colours, predominantly religious themes and Europas, over 1000 items in 47 sets and min.sheets, neatly mounted on pages in two albums (1025)

10’000 - 20’000

Payment by Credit Card

Please contact us in advance if you wish to make payment by means of any of the following Credit Cards : VISA, MASTERCARD, EUROCARD, AMERICAN EXPRESS and DINERS CLUB.

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Yugoslavia

1956 Fish The set of nine values, each imperforate plus its three progressive proofs, also extra material showing variations on the 30, 35 & 70d values (58)

650 - 1’300

1950-90 Chess Imperforates and progressive proofs of the Chess sets of 1950 (incl. extra unissued material), 1972 and 1990 (min.sheet), all mounted on 8 pages (68)

650 - 1’300

1954-1998 Wildlife The popular wildlife sets printed during this period with imperforates and progressive proofs neatly mounted on album pages, virtually all designs and colours issued (a few unissued colours officially defaced in the 1970 set), the lot comprises issues from 1954, 1959, 1962, 1964, 1966, 1969 Horses, 1970 Dogs, 1978, 1980, 1998 Horses (312)

2’000 - 4’000

10260

10261

10262



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Yugoslavia (cont.)

10263

10264

10265

1955-2001 Flowers The popular flowers sets printed during this period with imperforates and progressive proofs neatly mounted on album pages, virtually all designs and colours as issued, the lot comprises issues from 1955, 1957, 1959, 1961, 1963, 1965, 1967, 1969, 1971, 1973, 1981, 1999 and 2001 (476)

3’400 - 7'000

1958-2000 Birds The popular birds sets printed during this period with imperforates and progressive proofs neatly mounted on album pages, virtually all designs and colours issued (unissued 1968 set is officially defaced), the lot comprises issues from 1958, 1968, 1972 and 2000 (200)

1’300 - 2’600

1961 National Insurrection 20th Anniversary The set plus min.sheet imperforate and for each three progressive proofs, plus an interesting group of unissued values and colours, on 9 album pages (135)

1’000 - 2’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

Yugoslavia (cont.)

10266

1962-66 Artwork Series Sets from 1962, 1963, and 1966 with the final imperforates together with three or four progressive proofs, neatly mounted on special pages (191)

1’300 - 2’600

10267

1969-2000 Europa Group comprising the Europa issues from this period, namely all years from 1969 to 1983, then 1997 to 2000, plus a few extras being eventually unissued because of unappropriate face values, etc. (officially defaced), neatly mounted on pages (223)

2’000 - 4’000

10268

1952-98 Collection The assembly of imperforates and progressive proofs of a number of sets printed during this period showing a wide range of themes incl. 1952 Tito, 1967 Spaceships, 1969 Boats, Trains, Paintings, 1982 Football, etc. (378)

2’000 - 4’000

10269

TRIESTE B 1954 Wildlife The imperforate set plus three or four progressive proofs of each value, extra 100d in slightly different shade (58)

650 - 1’300



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

United Nations

10270

1951-99 Collection The complete Courvoisier archive of imperforates and progressive proofs of the stamps of the United Nations on 49 pages, chiefly from the US office, key sets noted including UNISSUED 1951 set, 1961 Flags, 1961 Economic Commission, 1963 Freedom from Hunger, 1963 UNTEA, 1964 IMCO, 1964 Weather Vane, 1966 UN Observer, 1967 New York and World Map, 1968 Starcke Statue, 1970 25th Anniversary min.sheet, 1999 Unispace, etc. a total of 34 sets incl. min.sheets, some unissued colours officially defaced, a fascinating group (571)

5’000 - 10’000

Vignettes

10271

10272

1950-2000 All World Collection Fascinating selection of private vignettes from a a range of countries incl. Luxembourg tuberculosis stamps, various exhibition min.sheets incl. Naples 1961 & Philakorea 1994, numerous Breitling vignettes with namely the Orbiter baloon, also WWF etc. (115)

650 - 1’300

International Bureau of Education 1946 The 72 proofs (9 sets of 8 colour proofs) prepared for the posts of Chile, Venezuela and Colombia, design varying slightly from one country to the other, neatly presented on album pages (72)

800 - 1’300

“...all items presented here can be considered unique.”

Rolain Levy, President (see letter, page 8) David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10273

All World

1990-2001 All-World Balance Collection Wonderful selection of imperforates and progressive proofs from a wide range of countries incl. Argentina, Aland, Finland, Greece, South Africa, Brunei, Bhutan, Israel, Lebanon, Albania, Tokelau, FYR of Macedonia, Nauru, Solomon Islands, and Armenia, strong in themes (e.g. Wildlife and Transportation), in one album (392)

5’000 - 10’000

Every Six Months!

Distinguished items are eagerly sought for our Autumn 2007 offer of

Rarities of the World If you have a suitable item, please contact us as soon as possible as this auction is always limited to a small number of lots. Special conditions can be considered. 

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

Government Printing Works (“Staatsdruckerei”), Vienna, Austria

10274

10275

The following lots, from a different source, represent a diverse holding of issues from a wide variety of countries, made available during private sales from these archives over the years. Many of the individual lots contain things such as the booklets presented and endorsed for approval of the designs and colours by the issuing postal administration or its agents, and as such are self-evidently UNIQUE

AFGHANISTAN 1961-71: Attractive selection of printer’s approval booklets from various sets from the ‘60s, mostly with their issued stamps in sheets, incl. 1961 Teacher’s Day, 1961 Band Amir, 1961 UNESCO, 1961 Children’s Day, 1961 UN Headquarters with three values in IMPERFORATE sheets, 1962 Ahmad Shah, 1962 Women’s Day (min.sheet and issued stamps), 1962 Malaria eradication with the 11 values in IMPERFORATE sheets of 50, 1962 Agriculture Day, 1963 Freedom from Hunger, 1963 Asian Games, 1964 Malaria Eradication overprints, 1964 Red Crescent, 1964 Children’s Day, 1964 Tourism, 1964 Olympics (min.sheet and set), 1966 Red Crescent, and 1971 UN Day, an exceptional assembly

3’400 - 7'000

AFGHANISTAN 1963-68: Important stock of sheets with many printer’s approval booklets, notably for 1962 UN with corresponding sheets IMPERFORATE, 1963 Agriculture, 1962 Famous Men, 1966 Independence Day, 1962 Olympics, 1962 Scouts with inverted Arab text, many other sets in sheets or part sheets, some imperforate

1’000 - 2’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10276

10277

10278



COLOMBIA 1951-60: Lot of different issues comprising 1957 St.Vincent 5c air in complete IMPERFORATE sheet of 50 plus normal 1c and 5c issued values, printer’s approval booklet of the 1960 150th Anniversary of Independence plus 11 issued values in complete sheets plus three approval cards, 1964 Castilla air 15c proof plus issued 30c in sheet of 50, 1951 Valencia min.sheets, 1960 Flowers with 13 values in sheets of 50 plus two printer’s approval sheet with five values, also printer’s approval booklets or cards of 1957 Fencer, 1957 Delgado, 1959 Stamp Centenial, 1960 Santander Oil-fields, 1954 Airs in four different colours, 1954 Caro, 1952 Academy of History, the three latter not exactly as issued, 1956 Tomb of Gimenez with a range or colours proposed, 1961 Engineers’ Society, 1962 Engineers, 1962 Malaria, 1962 Scouts, 1957 Letter Writing Week, 1956 Columbus, 1962 Malaria, most with a diverse range of proposed colours, an amazing lot with great potential

5'000 - 10’000

COLOMBIA 1960 St. Isidore 10c, imperforate corner block of ten of the final design plus four progressive proofs of the same, some wrinkles, possibly unique

650 - 1’300

COSTA RICA 1954-65: Small group comprising printer’s approval booklet of 1960 Pan American Games, 1960 Father Reralta, 1961 airs, 1962 Postal Tax Stamps and 1954 airs, 1964 Ancient Art airs, 1965 Gonzalez, 1965 Rotary (in two parts), plus most of the time a sheet of each value

2’000 - 4’000

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

10279

10280

DOMINICAN REPUBLIC 1956-60: Lot with theme OLYMPICS issued during this period, 1957 Olympics set in IMPERFORATE part-sheets of 25, plus the perfed issue in part-sheets and its corresponding printer’s approval booklet, very unusual 1957 air imperforate double-sheet of 140, printer’s approval cards(2) for 1957 issue, min.sheet incl. imperf. of the one with the Dominican Flag, printer’s approval card for the 1960 issue, a must for the Olympic collector

1’300 - 2’600

ECUADOR 1957-1965: Lot of various issues in sheets, printer’s approval booklets and imperfs, noted 1958 Eucharistic Congress double min.sheet imperf., 1957 Cuenca 1S in complete imperf. sheet of 50, printer’s approval booklets or cards of 1957 Cuenca in two parts, 1958 Geophysical Year, 1958 Postage Dues, 1958 Basketball player in a selection of colours,1959 Guayaquil, 1959 Revolution in different colours, 1960 Junta Bridge, 1960 SantaMaria, 1961 Butterflies, 1961 Moreno, 1965 Stamp Centenary, 1964 Quito High Court and 1964 OEA set plus issued stamps in sheets, a great lot

2’600 - 5’000

David Feldman Special Extended Payment Facility David Feldman S.A. (DF) may offer a special extended payment facility for buyers. In these cases, the buyer may choose to pay a minimum of 25% of the total invoice on receipt, and the balance over an extended period of 6 months, paying an equal installment at the end of each month. Interest plus charges of 1%, is debited to the buyer's account at the end of each month. When the special extended payment facility has been granted, the buyer understands that any claims regarding his purchases must be made within 30 days of the auction sale date, even though the lots may be held by DF awaiting full settlement of the account. Until delivery, lots may be examined by their respective buyers at the offices of DF.

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10281

10282

10283



ECUADOR - GALAPAGOS ISLANDS 1957: The approval booklet with each value twice in slightly different colours, ticking underneath shows selected colour with “3” in brackets under number 9 refering to colour of rejected stamp 3, incl. part -sheets of 10 of the values in issued colours, fascinating

650 - 1’300

ETHIOPIA 1966: 50 Years of Leadership, the three values in a printer’s approval booklet, each value showing slight differences in designs in comparison with the issued stamp (lot includes three sheets of 50 of each value)

GUATEMALA 1951-1967: Lot of various sets from the ‘50s and ‘60s with printer’s approval booklets and sheets of 50, namely 1963 Ceiba approval booklet showing four diff. colours plus issued colour in sheet of 50, 1964 Buildings approval booklet plus the issued values in sheets of 50, same for 1964 City Hall set, 1960 Red Cross, 1966 Central American Independence, 1967 Claim on British Honduras, 1956 Red Cross, 1956 Rotary, 1963 Marroquin, 1966 Scouts, 1967 Churches, 1962 Doctors, then 1950 Agriculture plus airs in blocks of four with SPECIMEN ovpt plus sheets of 50, a great lot

1’300 - 2’600

The Courvoisier Archive

April 20, 2007

340 - 700

David Feldman SA

Lot

Estimate €

10284

10285

10286

GUINEA 1963 Butterflies, the two printer’s approval booklets with various annotations plus 480 sets in sheets of either postage or airs, noted stamps for approval have text STAATSDRUCKEREI WIEN in the margins

1’300 - 2’600

HAITI 1958-70: Attractive selection of various sets in sheets plus a range of printer’s proofs booklets, noted booklet of 1969 Birds issue (+150 sets), same for 1969 Butterflies set (+200 normal sets) and 1968 Caiman Woods set, 1960 Olympics min.sheet in complete pane of 10, 1959 Pan American Games, complete set plus airs imperf. plus some values perf. as well as printer’s approval card, 1958 Geophysical year, complete set plus airmails in imperf. and perf. sheets, 1959 Pope Pius XII with printer’s appoval card and set in sheets of fifty, an extraordinary lot

3’400 - 7'000

HAITI 1960 Olympics, printer’s approval card showing seven proposed values from 10c to 2G50 in a range of colours, some finally issued, some not, lot includes seven sheets of 50 of the definitive values and colours, unique

1’000 - 2’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10287

10288



HONDURAS 1965 Knights of Malta, printer’s approval booklet showing the four values with the 1 Lempira having incorrect map showing “ON” of “Colon” in neighbouring state, lot includes the four issued values in sheets of 50

INDONESIA 1947-50 Forerunners: Pictorials, some having the POS UDARA legend, lot comprising eight printer’s approval cards and one booklet, plus most values IMPERFORATE in sheets or part sheets, some show REMSI overprints, also number of perforated sheets included, a fascinating group

6’500 - 13’000

The Courvoisier Archive

April 20, 2007

130 - 260

David Feldman SA

Lot

Estimate €

10289

INDONESIA 1949 Forerunners: Failure of Dutch Blockade #III and #IV min.sheets, the exceptional lot 29 proof sheets, each with the three diff. min.sheets as final stages or progressive proofs, some having also printings on reverse, lot includes one mockup with a selection of values, a unique group

13’000 - 26’000

10290

INDONESIA 1949 Forerunners: UPU issue min.sheet, the exceptional lot of 15 large progressive proofs with each 6 min.sheets, signed and dates april 1950 plus bearing handstamp DRUCKMUSTER, a unique group

6’500 - 13’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

10291

10292

10293



INDONESIA 1949 Forerunners: TAMBAH SEN Bulls, printers approval card with 13 values from 1s to 1R, separate 50s different design card, plus all values in imperforate sheets of 50 and three extra sheets (or part sheet) of the 1R, a unique assembly

4’000 - 8’000

LEBANON 1960 President Chehab, printer’s approval card showing two slightly differing types of the 100pi, the design to the the left was finally adopted, lot includes the complete issued set of 9 values in sheets of 50

NEPAL 1985-2001: Large lot of 100s of sheets of issues from this period, also noted die proof of 1987 King Birendra’s Birthday issue, plus die proofs on approval cards of 1986 Year of Peace, 1985 Tuberculosis, 1987 SAARC Summit, 1987 Shelter Year, 1987 Karkiroba, a scarce assembly (1’000s)

800 - 1’600

The Courvoisier Archive

April 20, 2007

200 - 340

David Feldman SA

Lot

Estimate €

10294

10295

NICARAGUA: Two 1957 issues, Somoza set incl. airs in complete sheets plus extra 20c value in complete sheet showing shifted centre, also Catholic Church issue with following values 5c, 10c(2), 15c(2), 20c, 30c(2), 50c, 60c, 75c(2), 90c, 1S, 1S50, 2S(2), plus a complete IMPERFORATE SHEET of the 15c value

1’300 - 2’600

OLYMPICS & SPORTS 1956-84: The exceptional lot of 100’s of sheets and part sheets from a range of countries depicting various Olympic events such as Melbourne 1956, Rome 1960, Tokyo 1964, Mexico 1968, Sarajevo 1984, also 1963 Asian Games, 1957 Pan-American Games, countries incl. Haiti, Yemen, Peru, Dominican Republic, Colombia, RARE OFFER AS MANY SHEETS AND MIN.SHEETS ARE IMPERFORATE, v.fine (1’000s)

5’000 - 10’000

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

ex 10296



The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

10296

PERSIA 1876-91, The proof sheets from the Government Printing Works in Vienna (Austria) with 37 values in total on three sheets, showing the four values of 1876, the 2sh, 5sh, 10sh and 1Kr from the 1879 issue, the 10c and 25c from the 1881 issue (imperf.), the seven values imperf. from the 1881-82 issue, the nine values from the 1891 issue, also six 1881 fiscals depicting Lion and portrait of Nasr ed-Din, a unique assembly and a key item of Persian philately from this period

13’000 - 20’000

ex 10297

David Feldman SA

April 20, 2007

The Courvoisier Archive



Lot

Estimate €

ex 10297 

The Courvoisier Archive

April 20, 2007

David Feldman SA

Lot

Estimate €

10297

PERSIA 1879-1884: The exceptional lot of 18 complete proof sheets, all imperforate comprising: - 1879-80 Complete set or six values (1sh, 2sh, 5sh, 10sh, 1Kr and 5Kr), each in sheets of 90, showing red WERTHLOSES SCHEMA and lines overprints - 1881 Complete set of three values (5c, 10c and 25c), in sheets of 100 showing two panes of 50, same overprint as above - 1881-82 Six of the 7 values (5c, 10c, 25c, 50c, 1F, 2F and 5F) in sheets of 50 - 1882 The two values (5sh and 10sh) in sheets of 50 - 1884 50c Grey-black in a sheet of 50 A most spectacular and unique assembly of highest importance to Persian philately

10298

CC J

PERSIA 1891 Definitives: The seven values of the regular issue, about 80 complete sets never hinged in various blocks and part-sheets, an incredible offering of this very rare set, completely undervalued in all the reference catalogues

David Feldman SA

April 20, 2007

40’000 - 60’000

93-101 6’500 - 10’000

The Courvoisier Archive



Lot

Estimate €

10299

10300

10301



PERU 1967-68: Two issues: 1967 6 Year Building Programme with air and 1968 Cultura Mochica, both printer’s approval booklets plus complete sheet of each issued value (Cultura Mochica showing three sets in booklet in slightly diff. shades)

500 - 1’000

RWANDA 1966-67: Two printer’s approval booklets (1966 UNESCO and 1967 EXPO ‘67) together with the issued sets in complete sheets

YEMEN 1952-84: Important never hinged stock in sheets showing various sets IMPERFORATE and in complete sheets incl. 1964 Olympics, 1964 Wildlife, 1964 Flowers, 1965 Churchill, 1965 IUT and 1965 Cats, issues form Yemen Arab Republic and Yemen People’s Republic, also 1952 Kingdom Palace of the Rock & Walls of Ibb, in imperforate gutter pair sheets of 16 plus progressive proofs, two printer’s approval booklets for overprints of the 1980 Olympics, one approval booklet for 1966 Faisal with imperforate sheet of 25 of the issued stamp, great source of thematics and ideal lot for the Internet, see also enclosed list for over €40’000

2’000 - 4’000

The Courvoisier Archive

April 20, 2007

200 - 340

David Feldman SA

David Feldman: the live multi-location auction

Participate at home “LIVE”

GENEVE

ATHENS

HONG KONG

CAPE TOWN

BERLIN

NEW YORK LONDON

David Feldman pioneered the opportunity for its clients to bid “live” at its auctions by a simple click on the Internet.

Log in at www.davidfeldman.com and practice our ­simulation ­system to prepare yourself for online bidding in our next auction series (see page 6 of this catalogue).

Sellers can also follow the journey and results of their ­consignment and join in the excitement of participating in the sale of their ­ property lot by lot as the auction hammer ­adjudicates each item.

A client said “I've been buying stamps and covers from auctions and dealers over 30 years and have now decided to sell my collection. My collection is international in nature with possible buyers everywhere.

I was wondering how to go about making the best decision. I was particularly concerned where it should sell and with whom. My participation in your last auction by Internet assures me that the David Feldman company must be the right choice...”

David Feldman SA, 175 route de Chancy, P.O. Box 81, CH-1213 Onex, Geneva, Switzerland Tel: +41 22 727 07 77, Fax: +41 22 727 07 78, E-mail: admin@davidfeldman.com, Web site: www.davidfeldman.com Representation in 25 cities on all 5 continents

David Feldman SA – Country Index The Courvoisier Archive Auction, April 21, 2007

BY COUNTRY: AFGHANISTAN ALAND ALBANIA ALGERIA ANGOLA ARGENTINA ARMENIA AUSTRALIA BAHRAIN BELGIAN CONGO BELGIUM BENIN BHUTAN BOSNIA & HERCEGOVINA BRUNEI BURKINA FASO BURUNDI CAMEROON CAPE VERDE CENTRAL AFRICAN REP. CEYLON CHILE CHINA (TAIWAN) COLOMBIA COMORO ISLANDS CONGO (BRAZZAVILLE) CONGO (KINSHASA) COSTA RICA CUBA CYPRUS DJIBOUTI DOMINICAN REPUBLIC ECUADOR EQUATORIAL GUINEA EL SALVADOR ETHIOPIA FAROE ISLANDS FINLAND GABON GIBRALTAR GREECE GUATEMALA GUERNSEY GUERNSEY - ALDERNEY GUINEA HAITI HONDURAS HONG KONG INDIA ICELAND INDONESIA IRAN (PERSIA) IRAQ ISRAEL IVORY COAST

LOT NUMBERS 10274-75 10273 10273 10039-45 10244-45,10248 10273 10273 10000 10099 10190-95 10189 10046 10273 10196 10273 10047-49 10050-53 10054 10246 10098 10001-04 10272 10142-62 10166-67,10272,10276-77, 10295 10098 10055 10056-61 10168,10278 10169 10005 10062-63 10279,10295 10170,10280-81 10098 10171-74 10064-68,10282 10197 10273 10069 10017 10273 10165,10283 10006-12 10012 10070,10284 10175-81,10285-86,10295 10165,10287 10013 10014-15 10198-206 10288-91 10296-98 10100-10 10273 10073

BY COUNTRY: ISLE OF MAN JERSEY JORDAN KENYA KUWAIT LEBANON LIBERIA LIBYA LUXEMBOURG MACAO MACEDONIA MADAGASCAR MALAWI MALAYA & STATES MAURITANIA MEXICO MONACO MOROCCO MOZAMBIQUE NAURU NEPAL NEW ZEALAND NICARAGUA OMAN PAKISTAN PAPUA & NEW GUINEA PERU PHILIPPINES POLAND PORTUGAL PORTUGUESE GUINEA QATAR RUANDA URUNDI RWANDA SAAR SAMOA SAN MARINO SENEGAL SINGAPORE SOLOMON ISLANDS SOMALIA (ITALIAN) SOUTH AFRICA SPAIN TAIWAN TCHAD THAILAND TOKELAU TRIESTE B TUNISIA TURKEY UNITED ARAB EMIRATES UNITED NATIONS VATICAN VENEZUELA YEMEN YUGOSLAVIA

LOT NUMBERS 10016 10017 10111 10018 10112-15 10273,10292 10074 10075-80 10207-235,10271 10247 10273 10098 10019-21 10022 10098 10165 10236 10081-83 10248 10273 10140,10293 10023-24 10182,10294 10116-19 10025 10026-36 10165,10295,10299 10141 10237-39 10240-43 10249-50 10120-28 10084 10085-88,10300 10251-52 10037 10253-57 10089-90 10038 10273 10071-72 10273 10258 10142-62 10091 10163 10273 10269 10092-97 10129-34 10135-36 10270 10259 10183-88,10272 10137-39,10295,10301 10260-10268

David Feldman SA – Theme Index The Courvoisier Archive Auction, April 21, 2007

BY THEME: ART

BIRDS

CHRISTMAS CHURCHILL EUROPA

FLOWERS

HORSES INSECTS & BUTTERFLIES

OLYMPICS

LOT NUMBERS 10005,10010,10029,10039, 10055,10056,10063,10065, 10147,10150-62,10197, 10253,10264,10268 10013,10015,10018,10020, 10026,10030,10032,10038, 10041,10046,10051,10058 10064,10065,10077,10083, 10088,10090,10091,10093, 10117,10124,10136,10146, 10159,10173,10181,10196 10202,10204,10244,10246, 10249,10253,10259,10273 10007,10010,10018,10019, 10023,10037,10049,10052, 10194,10253,10256,10259 10016 10009,10017,10132,10196, 10197,10200,10205,10206, 10219,10231,10233,10234, 10235,10253,10256,10259, 10264 10004,10028,10038,10042, 10046,10049,10068,10069, 10083,10085,10089,10095, 10117,10161,10174,10181, 10182,10191,10197,10199, 10227,10228,10246,10247, 10264 10016,10024,10041,10043, 10090,10126,10224,10262 10021,10031,10041,10051, 10055,10060,10068,10086, 10273,10274 10126,10164,10250 10000,10004,10005,10044, 10048,10050,10059,10063, 10069,10077,10087,10094, 10098,10123,10133,10140, 10178,10180,10196,10203, 10221,10233,10234,10235, 10246,10254,10255,10274, 10275

BY THEME: RED CROSS / CRESCENT REPTILES ROTARY SCOUTS SEA WILDLIFE SHIPS SOCCER & WORLD CUP SPACE SPORT

STAMPS ON STAMPS TRANSPORTATION UN & ORGANISATIONS

UPU

LOT NUMBERS 10013,10045,10082,10085, 10089,10096,10097,10141, 10202 10013,10026,10046,10055, 10063,10073,10193 10021,10089,10165,10167, 10182 10004,10036,10056,10067, 10075,10089,10115,10197, 10275 10010,10033,10037,10051, 10081,10090,10117,10246, 10260,10262,10269 10007,10010,10016,10035, 10045,10053,10073,10134, 10181,10188,10268 10021,10044,10048,10050, 10079,10087,10179,10196, 10268 10046,10049,10063,10256, 10268 10027,10044,10048,10063, 10089,10097,10120,10134, 10197,10234,10253,10256, 10268,10274 10004,10170,10220 10016,10018,10196,10234, 10235,10268,10273 10021,10056,10057,10065, 10070,10080,10096,10121, 10122,10168,10237,10270, 10272,10274,10275 10007,10056,10070,10071, 10085,10134,10168,10190, 10205,10215,10233

COURVOISIER

PHILIPPE

EUGENE

PAUL

ALEXANDRE

HENRI

PAUL

GUIDO-ESSIG

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B. MISE EN TEMPS REEL

C. SPECTATEUR Note pour les enchérisseurs: 1. Les mises commencent dans la salle des ventes et le lot sera adjugé indépendemment d’Internet à moins qu’un enchérisseur Internet ne se soit manifesté avant que le dernier prix n’ait été atteint.

2. Cliquez sur le bouton ‘Miser’ aussitôt que possible pour votre PREMIERE MISE sur le lot. En effet, l’accès au serveur peut prendre un moment en raison des différentes vitesses de connection Internet de par le monde. Une fois que votre mise est affichée, le commis- saire priseur note une présence sur Internet et va retarder l’adjudication du lot afin de vous permettre de finaliser vos mises.

3. L’écran va afficher, séquentiellement, à la fin de l’enchère UNE FOIS, DEUX FOIS, TROIS FOIS ADJUGE! unique ment dans le cas ou il y a un enchérisseur Internet. Vous devez placer votre enchère finale au moment de l’affichage UNE FOIS. 4. Parfois, plusieurs mises Internet peuvent être placées simultanément. Le serveur accepte la première mise reçue et ignore les autres d’un même montant. Ceci explique pourquoi vous pouvez placer une enchère et qu’elle ne vous soit PAS attribuée. Dans ce cas, veuillez placer immédiatement une nouvelle enchère.

5. Chaque enchérisseur Internet reçoit automatiquement une limite de crédit de CHF 20’000. Si cette limite est insuffisante veuillez simplement nous faire parvenir un E-Mail à l’adresse: “accounts@davidfeldman.com” en mentionnant la nouvelle limite de crédit désirée. Durant la vente, vous pouvez demander l’augmentation de votre limite de crédit en utilisant la page ‘Finance’ du logiciel.

Attention, dans ce cas quelques minutes sont nécessaires pour recevoir la réponse.

6. Comme certaines personnes ont raté des lots en raison de la vitesse de la vente, nous recommandons fortement de nous envoyer par E-Mail la liste des lots ou des groupes de lots sur lesquels vous pourriez miser (aucune obligation), ainsi le commissaire priseur prends en compte une présence possible sur Internet.

Nous suggérons également que vous nous fassiez parvenir un N° de téléphone où nous pouvons vous contacter durant la vente en cas de difficulté. Si vous avez besoin d’aide durant la vente, contactez simplement le secrétariat de la vente au: +41.22.727.0790 qui vous mettra en rapport avec la personne souhaitée.

David Feldman SA - Conditions de Vente La monnaie utilisée pour cette vente est l’Euro (e)

La participation dans l’une des ventes aux enchères de David Feldman SA implique une adhésion totale aux conditions décrites ci-dessous ainsi qu’aux droits et obligations qui en découlent. Ces mêmes conditions sont applicables à toute transaction en relation à des pièces ou des lots faisant partie de la vente aux enchères et conclue en dehors de celle-ci. La Maison DAVID FELDMAN S.A., organisatrice de la présente vente aux enchères, agit exclusivement comme mandataire et n'assume donc aucune responsabilité quelconque en cas de manquement(s) des acheteurs et/ou vendeurs.

1. LES LOTS SONT MIS EN VENTE 1.1 Sur la base de leur présentation dans le catalogue et/ou sur le site internet: Les lots sont décrits avec le plus grand soin sans toutefois engager la responsabilité de la Maison DAVID FELDMAN S.A. Les ­photographies font partie intégrante des descriptions pour ce qui est des marges, de la dentelure, du centrage, des oblitérations et de toute autre qualité apparente. La description des lots mentionne si les pièces sont signées par des experts et/ou sont accompagnées de certificats d'expertise.

1.2 Sur la base de leur examen: Tous les lots peuvent être examinés, avant et pendant la vente dans nos bureaux ou à l’endroit de la vente, aux horaires indiqués dans le catalogue de vente ou sur notre site Internet. Les acheteurs ayant ­examiné les lots avant la vente et/ou y participant personnellement et/ou y étant représentés, sont censés avoir examiné tous les lots achetés et les accepter dans l'état où ils se trouvent lors de l'adjudication, indépendamment de la description figurant dans le catalogue.

2. LES OFFRES D'ENCHERES 2.1 Chaque offre d'enchère doit être supérieure à celle formulée précédemment selon l'échelle suivante: (la monnaie peut changer selon la vente. aux enchères) e 50 e 100 e 200 e 500 e 1000

- - - - -

100 200 500 1000 2000

e 5 e 10 e 20 e 50 e 100

e 2000 e 5000 e 10000 e 20000 e 50000

- 5000 - 10000 - 20000 - 50000 - 100000

e 200 e 500 e 1000 e 2000 e 5000

Les offres se situant entre ces montants seront arrondies à la surenchère supérieure. L'enchérisseur est lié par son offre tant qu'une nouvelle surenchère n'a pas été valablement formulée par un autre enchérisseur.

2.2 L'huissier ou le crieur a le droit d'avancer les enchères, de séparer, joindre ou retirer n'importe quel lot, cela à son entière discrétion. La vente a lieu en français mais les enchères pourront être répétées en anglais.

La Maison DAVID FELDMAN S.A. est également autorisée à enchérir pour le compte de vendeurs lorsque des prix de réserve ont été fixés. Si le vendeur fixe des prix de réserve pour certains de ses lots, il sera alors considéré comme acheteur et la Maison DAVID FELDMAN S.A. enchérira pour le compte de celui-ci jusqu'à concurrence des prix de réserve fixés. Lorsque le prix fixé par le vendeur n'est pas atteint, il sera passé à la criée du lot suivant par un simple coup de marteau.

2.3 Les offres d’enchères écrites reçues par David Feldman SA ou sur le site Internet avant la vente, sont dans tous les cas prioritaires sur les offres d'enchères faites dans la salle de vente. L'enchérisseur donnant un ordre d'enchères écrit peut faire des offres alternatives et/ou limiter le montant global de ses offres. Les offres d'enchères données "à acheter" sont considérées comme pouvant atteindre jusqu'à 10 fois la valeur de l'estimation imprimée dans le catalogue. Les enchères doivent être faites en francs suisses. Les offres d'enchères libellées en d'autres monnaies seront converties en francs suisses au cours du jour de leur réception par la Maison DAVID FELDMAN S.A. Toute offre écrite d'enchères est considérée comme liant son auteur pendant 60 jours après la date de la vente aux enchères. La Maison DAVID FELDMAN S.A. est donc en droit de facturer la marchandise à l'enchérisseur jusqu'à l'expiration de ce délai. Toute facture reçue par celui-ci est de ce fait valable et doit être payée ­immédiatement.

3. LA VENTE AUX ENCHERES 3.1 La vente en direct se déroule sous le contrôle de l’autorité compétente qui n’assume cependant aucune responsabilité. La vente aux enchères se déroule sous le ministère d'un "huissier judiciaire" de la République et Canton de Genève. La monnaie de la vente aux enchères est l'euro.

3.2 Prérogatives de David Feldman S.A.: La Maison DAVID FELDMAN S.A. est en droit selon sa libre appréciation de retirer, de diviser ou de grouper les lots faisant partie de la présente vente ainsi que de refuser l'adjudication de ­n'importe lequel desdits lots. La Maison DAVID FELDMAN S.A. se réserve le droit de refuser selon sa libre appréciation toute offre d'enchères et/ou l'entrée de la salle de vente à n'importe quelle personne quelle qu'elle soit. La Maison DAVID FELDMAN S.A n'assume aucune responsabilité quelconque en cas de dommage corporel survenu sur les lieux de la vente.

3.3 Représentants et Agents de Vente aux Enchères: L'enchérisseur qui agit pour le compte d'un tiers engage son entière responsabilité personnelle en particulier en ce qui concerne toutes les obligations contractées dans le cadre de la présente vente. Cette responsabilité s'étend notamment à la vérificaiton de la qualité des lots achetés ainsi qu'au règlement ultérieur de la facture des lots acquis.

3.4 L’adjudication: Chaque lot est adjugé au plus offrant pour le compte de son vendeur respectif. Des frais de 19.5% sont facturés en sus du prix d'adjudication par David Feldman SA couvrant la commission, les taxes d'adjudication, frais par lot, assurance, emballage, frais de port, frais d'exportation etc. et ceci dans tous les cas, tous frais ­encourus ou pas. A la tombée du marteau, les profits et risques des lots ainsi adjugés passent à l'enchérisseur dont l'offre à été acceptée. La marchandise ne sera ­cependant remise à l'acquéreur qu'au moment du règlement intégral du prix d'achat (prix d'adjudication plus les frais).

Exceptionnellement, pour les lots marqués d'un "#" à la fin de la description, ceux-ci sont particulièrement lourds et les frais de port sont facturés en sus et à prix coutant. Les acheteurs donnant des instructions particulières au sujet de l'expédition de leurs lots sont responsables pour leurs frais de port.

TVA (Taxe à la vente) - Note indicative concernant les ventes aux enchères dont les lots se trouvent en Suisse: Les acheteurs domiciliés à l'étranger ne sont pas soumis à cette taxe, à condition que les marchandises soient exportées hors de Suisse. DAVID FELDMAN S.A. se fera un plaisir de s'occuper de l'exportation de ces marchandises. Les clients peuvent aussi faire cette exportation par leurs propres moyens; dans ce cas, ils doivent fournir à DAVID FELDMAN S.A. une attestation dûment signée et timbrée par les douanes suisses.

Toute acquisition par des acheteurs désirant garder la marchandise en Suisse est soumise à la taxe TVA de 7.6% sur le prix d'achat en francs suisses, montant converti à l'équivalent en euros pendant la vente.

3.5 Paiement: Les adjudicataires présents sont tenus de payer comptant en francs suisses le prix d'achat et la commission contre remise de la marchandise acquise. Le paiement en monnaies étrangères est accepté au cours du jour tel qu'établi par une des grandes banques suisses. Les enchérisseurs par correspondance auxquels un lot est adjugé ainsi que les adjudicataires présents auxquels la Maison DAVID FELDMAN S.A. accorde l'autorisation expresse d'acquitter les montants dus après la vente, sont tenus de payer le prix d'achat

et la commission due à réception de la facture de la vente aux enchères. Dans ce cas, la Maison DAVID FELDMAN S.A. conserve les lots adjugés qui ne seront remis à leurs acheteurs qu'à réception par la Maison DAVID FELDMAN S.A. du paiement intégral des montants dus. Sauf instructions spéciales de l'acheteur, l'envoi des lots s'effectue par la poste, la Maison DAVID FELDMAN S.A. assure, de manière usuelle, la ­marchandise pour le transit. Les lots, délivrés ou non, conservent titre de propriété de la Maison DAVID FELDMAN S.A. pour le compte du vendeur jusqu’au paiement intégral de la facture.

3.6 Facilités de paiement: La Maison DAVID FELDMAN S.A. accorde, selon sa libre appréciation, des facilités de paiement aux acheteurs.

L'acheteur au bénéfice de telles facilités paie un montant minimum de 25% du montant total de la acture dès réception de celle-ci puis acquitte le solde encore dû en mensualités égales sur une période de 6 mois maximum. Un intérêt mensuel plus les frais encourus au taux de 1% sont perçus, à partir de la date de la vente, par la Maison DAVID FELDMAN S.A. L'intérêt est débité chaque mois au compte du client. En cas d'octroi de facilités de paiement, la Maison DAVID FELDMAN S.A. garde les lots adjugés jusqu'au paiement intégral des montants dus par l'acheteur, étant précisé que l'acheteur peut, en tout temps avant livraison, examiner la marchandise acquise auprès de la Maison DAVID FELDMAN S.A. Par ailleurs, l'acheteur perd tout droit de réclamation tel que prévu sous chiffre 4 ci-dessous, 30 jours après la date de la vente aux enchères.

3.7 Droit de gage: Jusqu'au paiement intégral du montant dû, l'acheteur confère à DAVID FELDMAN S.A. un droit de gage sur la totalité des lots gardés par DAVID FELDMAN S.A., acquis avant, pendant et/ou après la présente vente aux enchères. Ce gage garantit le remboursement de tout montant dû en capital, intérêts, commissions et frais éventuels. DAVID FELDMAN S.A. est autorisée, mais non obligée, à réaliser les gages sans autres formalités et sans préavis si l'acquéreur est en demeure pour le paiement de sa dette ou l'exécution d'une obligation quelconque. DAVID FELDMAN S.A. pourra dans tous les cas réaliser les gages de gré à gré.

A cet effet, elle n'est pas tenue d'observer les formalités prévues par la Loi fédérale sur la poursuite pour dette et faillite; DAVID FELDMAN S.A. est libre en outre d'introduire ou de continuer une poursuite ordinaire, sans avoir préalablement réalisé les gages et sans renoncer pour autant à ceux-ci.

4. GARANTIE 4.1 Etendue de la garantie: Sous réserve de l'article 4.3 ci-après, l'authenticité de toutes les pièces philatéliques vendues aux enchères est garantie pendant 30 jours à compter de la date de la vente aux enchères.

Toute garantie de défaut ou autre garantie de quelque nature qu'elle soit est expressément exclue. Toute réclamation concernant l'authenticité doit être transmise à DAVID FELDMAN S.A. dès réception des lots, mais au plus tard dans les 30 jours à compter de la date de la vente aux enchères. Avant la livraison, qui peut intervenir après ce délai de 30 jours, les pièces philatéliques acquises peuvent être examinées auprès de DAVID FELDMAN S.A. L'acheteur dont la réclamation parvient à DAVID FELDMAN S.A. après ce délai de 30 jours à compter de la date de la vente aux enchères perd tout droit à la garantie. Sa réclamation ne sera pas prise en considération par DAVID FELDMAN S.A. Si un délai supplémentaire pour formuler une réclamation liée à l'authenticité d'une pièce philatélique s'avère nécessaire, la demande doit en être faite à DAVID FELDMAN S.A. dans le délai de 30 jours à compter de la date de la vente aux enchères. Aucune demande parvenue après ce délai de 30 jours à DAVID FELDMAN S.A. ne sera prise en considération. Les résultats de l'expertise pour laquelle un délai a été accordé doivent parvenir à DAVID FELDMAN S.A. dans les trois mois à compter de la date de la vente aux enchères. Un délai supplémentaire ne peut être accordé qu'avec l'accord écrit de DAVID FELDMAN S.A. Seules les réclamations, résultats d'expertise ou autres notifications parvenus dans les délais seront pris en considération par DAVID FELDMAN S.A. 4.2 Expertise ou contre-expertise: Lorsque l'authenticité d'un lot est contestée l'acheteur est tenu de produire un certificat d'expertise ou de contre-expertise émanant d'un expert qualifié justifiant sa réclamation. Si l'expert reconnu, assumant toute responsabilité en cas d'erreur, juge que le timbre a été falsifié, il peut le marquer en conséquence; les signes "FAUX" ou "FALSIFIE" ne constituent pas alors une altération du lot. En présence d'une telle réclamation la Maison DAVID FELDMAN S.A. se réserve le droit de demander selon la libre appréciation une ou plusieurs expertises subséquentes dont les frais seront mis à charge du vendeur dans l'hypothèse où la réclamation de l'acheteur est fondée. Dans le cas contraire l'acheteur supportera tous les frais d'expertise encourus. Lorsque la réclamation est fondée, le lot est repris et le prix d'adjudication ainsi que la commission sont intégralement remboursés à l'acheteur. Dans le cas d'un paiement retardé dû à une ­expertise agréée par David Feldman S.A., des intérêts sont payables à 50% du taux habituel pour tout lot dont l'authenticité est confirmée. Si David Feldman S.A. n'est pas d'accord tous les intérêts seront dus.

4.3 Limites de la garantie: Les lots décrits comme collections, sélections ou groupes, ceux formés de doubles et d'accumulations, ne peuvent faire l'objet d'une réclamation quelconque. Les réclamations concernant les lots décrits comme série ou groupes de séries contenant plus d'un timbre, ne sont prises en considération dans les limites de l'article 4.1 ci-dessus que si elles portent sur plus d'un tiers de la valeur totale d'acquisition du lot. Les lots qui ont été examinés par l'acheteur ou son agent, ainsi que les lots qui sont décrits comme ayant des défauts ne peuvent faire l'objet d'aucune réclamation par rapport à ceux ci. Tout lot illustré ne peut faire l'objet d'aucune réclamation au sujet de la perforation, du centrage, des marges ou tout autre élément visible dans l'illustration.

4.4 Paiement tardif: Si le paiement du prix d'achat et de la commission due par l'acheteur n'intervient pas dans les 30 jours à compter de la date de la vente aux enchères, la Maison DAVID FELDMAN S.A. se réserve le droit d'annuler la vente et de disposer du(des) lot(s) concerné(s) et/ou d'agir par toute voie de droit utile contre l'acquéreur afin d'obtenir le paiement des montants dus et/ou d'éventuels dommages-intérêtset/ou le remboursement de tous frais judiciaires. Des frais pour les paiements en souffrance d’au moins 5% dès le premier mois et 2% par mois supplémentaire. De plus, les dépenses encourues seront perçues sur toutes les sommes dues par l’acheteur 30 jours après la date de la vente aux enchères. Le débiteur ­défaillant perd en outre tout droit de réclamation.

4.5 Le prix d'adjudication pourra, exceptionellement, être ramené à la mise gagnante la plus basse s'il est établi qu'un enchérisseur a augmenté le prix par inadvertance en utilisant plus d'un moyen de miser.

5. DROIT APPLICABLE ET FOR COMPETENT La présente vente aux enchères ainsi que tous les rapports juridiques qui en découlent seront soumis au Droit suisse exclusivement. Toute action légale ou procédure concernant la vente aux enchères ainsi que les rapports juridiques qui en découlent seront soumis à la juridiction exclusive des tribunaux de Genève, sous réserve d'appel au Tribunal fédéral suisse à Lausanne.

Dans tous les cas, la Maison DAVID FELDMAN S.A. se réserve le droit de poursuivre tout acheteur défaillant à son lieu de résidence, auquel cas le Droit Suisse reste applicable et dans les cas se rapportant à la valeur, l'euro est converti à son équivalent en francs suisses pendant la vente.

6. Toute transaction: Ces conditions sont applicables à toute transaction même en dehors des ventes aux enchères, avec David Feldman SA. 01/2007

David Feldman SA - Conditions of Sale The currency of the auction is Euro (e)

Participation in any David Feldman S.A. auction means acceptance in full of the following conditions as well as any rights and obligations arising therefrom. These same conditions also apply to all transactions in auction lots taking place outside the realm of the auctions. DAVID FELDMAN S.A., organiser of the auctions, acts as an agent only and is not liable in any way whatsoever for any default(s) of purchaser(s) and/or vendor(s) 1. THE AUCTION LOTS ARE OFFERED 1.1 As presented in the relative auction catalogue and/or through the David Feldman S.A. website: Lots are meticulously described and with the greatest care, however without responsibility. Photographs count as part of the description with regard to the margins, perforation, centering, postmarks and all other visible attributes. The description of the lots mentions if the items are signed by recognised experts and/or accompanied by expert certificates.

1.2 As viewed in person: Before and during auction sales, all lots may be examined at our offices or at the auction location as scheduled in the auction catalogue and on the website. Persons or their agents attending a Live Room auction and/or who have viewed lots before any auction are understood to have examined all lots which they purchase and accept them as they are at the moment of the knockingdown and not necessarily as described.

2. AUCTION BIDS 2.1 The auction bi steps for all auctions are as follows: (some auctions may be in other currencies than Euros) e 50 e 100 e 200 e 500 e 1000

- - - - -

100 200 500 1000 2000

e 5 e 10 e 20 e 50 e 100

e 2000 - 5000 e 5000 - 10000 e 10000 - 20000 e 20000 - 50000 e 50000 - 100000

e 200 e 500 e 1000 e 2000 e 5000

Bids in between these steps will be adjusted accordingly to the next highest bid step. The bidder is bound by his offer until a higher bid has been validly accepted.

2.2 The Huissier Judiciaire together with DAVID FELDMAN S.A. have full discretion to refuse any bidding, to divide any lot or lots, to combine any two or more lots and to withdraw any lot or lots from the sale without any case giving any reason. DAVID ­FELDMAN S.A. may also bid on behalf of vendors in cases where reserve prices have been fixed. In these cases, the vendor is treated as a buyer and the auctioneer shall bid on his behalf up to reserve prices. If the reserve price fixed by the vendor is not reached the auctioeer passes to the next lot by a simple knock of the hammer.

2.3 Bid orders received by DAVID FELDMAN S.A. or on its website before the relative auctions have priority over room bids in the case of Live Room auctions. Clients giving bidding instructions to DAVID FELDMAN S.A. may make alternative offers and/or limit the total of their expenditure in advance. Bids marked "BUY" are considered as up to ten times the quoted estimate price where such exists. Bids made in other currencies than the advertised currency of the auction, will be converted into that ­currency at the market rate of the day of receipt by DAVID FELDMAN S.A. Bids are standing and hold good for at least 60 days from the auction period. DAVID FELDMAN S.A. reserves the right to invoice bidders up to the end of the 60 day period, payment being due immediately.

3. THE AUCTION 3.1 Live Room auctions are held under the control of the relative supervising authority at its location. The relative supervising authority has no liability. The auction will be held under the ministry of a “huissier judiciaire” of the Canton and Republic of Geneva. The currency of the auction is Euros.

3.2 Prerogatives of David Feldman S.A.: DAVID FELDMAN S.A. may withdraw, group differently, divide or refuse to knock down any lot. DAVID FELDMAN S.A. reserves the right to refuse any bid orders and/or for Live Room auctions, refuse admittance to the auction room, at its discretion, to anybody whosoever. DAVID FELDMAN S.A. cannot be held responsible for any physical accident that may occur on the premises where auctions take place.

3.3 Bidders' representatives and auction agents: Any person bidding for the account of a third party is fully liable for any obligation arising from such bidding. This responsibility is notably applicable for the verification of the condition and for the payment of bought lots 3.4 Adjudication: Each lot is sold on behalf of the respective owner to the highest bidder who becomes the buyer at the next highest bid step, which is the adjudication price. In addition to the adjudication price, the buyer pays an all-in fee of 19.5% to cover commission, charges and expenses including lotting fees, adjudication taxes, ­ insurance, packing, mailing, export formalities etc. whether all incurred in particular cases or not. On the adjudication, liability for the lots passes to the bidder whose bids have been accepted. The lots are delivered to the buyer when the sale price (adjudication price plus all fees) have been paid in full Exceptionally lots marked "#" at the end of the description are heavy in weight and mailing expenses, charged at cost, are extra. Buyers who give special mailing ­instructions are responsible for their own mailing costs.

TVA (Sales Tax) - Notes for guidance concerning auctions for which the lots are located in Switzerland: Buyers domiciled abroad are not liable for this tax once the goods are duly exported from Switzerland.

DAVID FELDMAN S.A. are pleased to arrange this export; alternatively, clients may make their own arrangements and furnish DAVID FELDMAN S.A. with proof of export, stamped by Swiss customs. Any purchases by buyers who wish to keep their purchases in Switzerland will be liable to TVA at 7.6% of the purchase price in Swiss francs at the converted Euro value during the auction.

3.5 Payment: Sale price plus commission are due for immediate payment as invoiced against delivery of the lots. Payment in foreign currencies is accepted at the rates of exchange of the day as quoted by

a Swiss major bank. The bidders who are ­successful with whom it has been expressly agreed that they pay after the sale under special conditions, are due to pay the sale price and the commission according to those terms. In these cases, DAVID FELDMAN S.A. keeps the adjudicated lots which are delivered to the buyers on full settlement of their account. Delivery of the purchased lots by post or any other means if instructed by the buyer including cost of normal transit insurance cover is at the expense of the buyer.

Title or ownership of the purchased lots, delivered or not, remains with the auctioneer on behalf of the seller until payment has been made in full.

3.6 Special extended payment facility: DAVID FELDMAN S.A. may offer a special extended payment facility for buyers. In these cases, the buyer may choose to pay a minimum of 25% of the total invoice immediately, and the balance over a maximum period of 6 months, paying an equal instalment at the end of each month. Interest plus charges of 1% is debited to the buyer's account at the end of each month from the auction date. When the special extended payment facility has been granted, the buyer understands that any claims regarding his purchases must be made within 30 days of the auction sale date, even though the lots may be held by DAVID FELDMAN S.A. awaiting full settlement of the account. Until delivery, all lots may be examined by their respective buyers at the offices of DAVID FELDMAN S.A. 3.7 Pledge: Until full settlement of the account, the buyer grants to DAVID FELDMAN S.A. a pledge on any and all properties held by DAVID FELDMAN S.A., acquired prior to, during and/or after any auction.

This pledge secures the repayment of any amount due in principals, interests, commissions, costs and other possible fees. DAVID FELDMAN S.A. is entitled, but not obliged, to realise freely the pledge assets without further formalities and without previous notice if the buyer is in default with the ­payment of his debts or with the fulfilment of any other obligation hereunder. For this purpose, DAVID FELDMAN S.A. is not bound to comply with the formalities of the Federal Law dealing with actions for debt and bankruptcy proceedings; in addition, DAVID FELDMAN S.A. may choose to institute or go on with the usual proceedings without having beforehand sold the pledged goods and without having moreover given them up.

4. GUARANTEE 4.1 Extent of the guarantee: Subject to paragraph 4.3 below, the authenticity of all philatelic items sold in the auction is guaranteed for a period of 30 days from the auction date, with the express exclusion of any other fault(s). Any reclamation regarding authenticity must come to the notice of DAVID FELDMAN S.A. on the delivery of the lots but at the latest within 30 days from that date. Before delivery, which may take place after the 30 days period, the lots purchased may be ­examined at the Geneva offices of DAVID FELDMAN S.A. The buyer whose reclamation is made after 30 days from the auction date loses all rights to the guarantee. Such reclamation will not be valid by DAVID FELDMAN S.A.. If an extension of the ­period is required in order to substantiate the claim with an expertise, a request for such extension must be made to DAVID FELDMAN S.A. within 30 days of the auction date. No request for extension will be considered beyond this 30 days period. The results of the expertise for which an extension was agreed must come to the notice of DAVID FELDMAN S.A. within 3 months of the auction date. No further extension of the period will be considered without the express agreement in writing of DAVID FELDMAN S.A. Only claims, ­expertise results or other details which are made within the agreed periods will be valid.

4.2 Expertise and counter-expertise: Should the authenticity of a lot be questioned, the buyer is obliged to provide an expertise or counter-expertise from a prominent expert in the field, justifying the claim. If a stamp is found by a ­recognised expert ­taking financial responsibility for errors to have been forged, he may mark it accordingly. Consequently, the marking "FALSCH" (forged) is not considered an alteration.

In the case of such reclamation, DAVID FELDMAN S.A. reserves the right to request, at its own discretion, one or more further expertises. All expertise and relative charges accrue to the vendor's account in the case of a justified claim, or to the buyer's account if the claim is not justified. In the case of a justified claim, the lot is taken back and the adjudication price plus the commission are refunded to the buyer. In the case of delayed payment due to expertise agreed by David Feldman S.A., interest is charged at 50% the standard rate for all cleared lots. If David Feldman S.A. has not agreed then full interest is due.

4.3 Exclusions: Lots described as collections, accumulations, selections, groups and those containing duplicates, cannot be the subject of any claim. Claims concerning lots described as a set or groups of sets containing more than one stamp, can only be considered under the terms of paragraph 4.1 above if they relate to more than one third of the total value of the lot. Lots which have been examined by buyer or his agent, lots described as having defects or faults cannot be subjected to a claim regarding defects or faults.llustrated lots cannot be subjected to a claim because of perforations, centering, margins or other factors shown in the illustrations.

4.4 Late Payment: If the payment of the adjudicated price plus commission due by the buyer is not made within 30 days of the date of the auction, DAVID FELDMAN S.A. reserves the right to cancel the sale and dispose of the lot(s) elsewhere and/or to make a recourse to any legal proceedings in order to obtain payment of the amounts due as well as for any incurred damages and losses and any legal expenses. A charge on overdue payment of at least 5% for the first month and 2% per month ­afterwards plus expenses incurred is chargeable on any outstanding amount after 30 days of the date of the auction. The buyer who is in default in any way whatsoever has no right of claim under any circumstances.

4.5 Exceptionally, the adjudication price will be reduced to the lowest winning bid where it is shown that a buyer has inadvertently increased the price by using more than one medium of bidding.

5. APPLICABLE LAW AND JURISDICTION Unless otherwise stated, all auctions as well as any rights and obligations arising from them shall be governed exclusively by Swiss law. Any legal action or proceeding with respect to the auctions shall be submitted to the exclusive jurisdiction of the courts of Geneva, subject to appeal to the Swiss Federal Court in Lausanne.In every case, DAVID FELDMAN S.A. shall also be entitled, at its discretion, to sue any buyer in default at his place of residence; in such case, Swiss law shall remain applicable and in the case of issues regarding price value, the Euro is converted at its Swiss franc value at the time of the auction.

6. All Transactions: These conditions apply to all transactions of every kind including those outside the auctions, with David Feldman SA. 02/2007

David Feldman SA - Versteigerungsbedingungen Die Währung für diese Versteigerung ist Euro (e)

Die Versteigerung erfolgt öffentlich. Beteiligung setzt die vollständige Annahme nachstehender Bedingungen sowie der sich daraus ergebenen Rechte und Pflichten voraus. Diese Bedingungen gelten auch bei Geschäften, die ausserhalb der Versteigerung mit Auktionslosen abgeschlossen werden. Der Versteigerer, DAVID FELDMAN S.A., handelt nur als Beauftragter und haftet für keinerlei Verzug seitens der Käufer und/oder Einlieferer.

1. ANGEBOT DER LOSE 1.1 Wie im Katalog dargestellt und/oder im Internet: Losbeschreibungen werden mit grösster Sorgfalt und nach bestem Gewissen vorgenommen, jedoch ohne Verbindlichkeit. Fotographien sind Bestandteil der Beschreibungen, wobei die Abbildungen für Rand, Zähnung, Zentrierung, Stempel und anderer sichtbarer Eigenschaften massgebend sind. Prüfzeichen und/oder Atteste anerkannter Prüfer sind in der Losbeschreibung erwähnt.

1.2 Wie besichtigt: Alle im Katalog erwähnten Lose können vor und während der Versteigerung sowie auf dem Internet besichtigt werden. Bei Auktionsteilnehmern und/oder Personen, die Lose vor der Versteigerung besichtigten, und/oder vom Bieter bevollmächtigte Personen und Agenten, wird die Besichtigung aller gekauften Lose vorausgesetzt; die Lose werden in dem Zustand, in dem sie sich beim Zuschlag befinden, angenommen und nicht unbedingt wie beschrieben.

2. KAUFGEBOTE 2.1 Folgende Steigerungsstufen haben Gültigkeit (einige Versteigerungen können in Fremdwährungen abgehalten werden): e 50 e 100 e 200 e 500 e 1000

- - - - -

100 200 500 1000 2000

e 5 e 10 e 20 e 50 e 100

e 2000 - 5000 e 5000 - 10000 e 10000 - 20000 e 20000 - 50000 e 50000 - 100000

e 200 e 500 e 1000 e 2000 e 5000

Gebote, die zwischen diesen Stufen liegen, werden der nächst höheren Steigerungsstufe angepasst.

Bieter sind bis zur Annahme eines höheren Gebotes an ihr Gebot gebunden.

2.2 Die "huissier judiciaire” oder DAVID FELDMAN S.A. ist ermächtigt, gemäss erfolgten Anweisungen, für Kunden zu bieten. DAVID FELDMAN S.A. ist ebenfalls ermächtigt, gegebenenfalls für Einlieferer zu bieten, sofern diese Reservepreise festgesetzt haben. Einlieferer werden somit als Käufer betrachtet, und der Versteigerer steigert für sie bis zum Betrag der Reservepreise mit. Wird der vom Einlieferer festgesetzte Reservepreis nicht erreicht, geht der Auktionator durch einen einfachen Hammerschlag zum nächsten Los über.

2.3 Vor der Versteigerung bei DFSA oder auf deren Internet Site eingegangene schriftlichen Gebote haben absoluten Vorrang vor Saalgeboten bei einer „Live“ Auktion. Kunden, die der DAVID FELDMAN S.A. Kaufaufträge gegeben haben, können ­ Alternativgebote abgeben und/oder die Auftragssumme im voraus begrenzen. " Buy" ("Zum Kauf") Gebote werden bis zum Zehnfachen des gedruckten Schätzwertes mitgesteigert. Gebote sind in Schweizer Franken abzugeben . Sollten diese jedoch in fremden Währungen erfolgen, so werden die Beträge bei Empfang zum Tageskurs in Schweizer Franken umgerechnet. Gebote haben bis zu mindestens 60 Tagen nach Versteigerungsdatum Gültigkeit. DAVID FELDMAN S.A. behält es sich vor, Bietern Lose bis zum Ablauf dieser Frist in Rechnung zu stellen, wobei sofortige Zahlung fällig ist.

3. DIE VERSTEIGERUNG 3.1 Die „Live“ Auktion erfolgt unter der Mitwirkung einer lokalen Aufsichtsbehörde. Die Aufsichtsperson kann nicht haftbar gemacht werden. Diese Versteigerung erfolgt unter der Mitwirkung des „huissier judiciaire“ (Gerichtsvollstrecker) als ­ gesetzlicher Überwacher von Republik und Kanton Genf. Die Währung dieser Auktion ist Euro.

3.2 Vorrechte der David Feldman S.A.: DAVID FELDMAN S.A. hat das Recht, Lose zurückzuziehen, umzugruppieren, zu trennen oder den Zuschlag zu verweigern. DAVID FELDMAN S.A. behält es sich ebenfalls vor, Kaufaufträge abzulehnen und/oder Personen den Zugang zum Auktionsraum zu verweigern. DAVID FELDMAN S.A. kann für Unfälle, die in den Versteigerungsräumen erfolgen, nicht haftbar gemacht werden.

3.3 Bevollmächtigte und Agenten: Wer für Dritte bietet, haftet für alle sich aus dieser Versteigerung ergebenen Verpflichtungen als Solidarschuldner. Diese Verbindlichkeit betrifft hauptsächlich die Qualitätsprüfung und Bezahlung gekaufter Lose.

3.4 Zuschläge: Jedes Los wird dem Meistbietenden zu Gunsten des Einlieferers, zur nächst höheren Steigerungsstufe zugeschlagen. Zur Zuschlagsumme, welche abhängig von der Auktion ist, wird in jedem Fall ein Aufgeld von 19.5% inklusive Kommission, Unkosten, Taxen, Versicherung, Verpackung, Versand, Ausfuhrformalitäten usw. erhoben. Ausgenommen sind Lose, die am Ende der Beschreibung mit ”#” bezeichnet sind. Für diese werden ausnahmslos wegen des hohen Gewichts die Versandkosten separat nach Aufwand verrechnet. Käufer mit Spezialinstruktionen kommen selbst für die entsprechenden Versandkosten auf. Beim Zuschlag geht das Risiko der ersteigerten Lose auf den Bieter über, dessen Gebote angenommen wurden. Die Lose werden ihm jedoch erst bei voller Begleichung des ­Kaufpreises und Aufgelds ausgehändigt.

MWST (Mehrwertsteuer) - Anmerkung zur Orientierung betreffend Versteigerungen, deren Lose sich in der Schweiz befinden: Käufer, mit Wohnsitz im Ausland sind nicht steuerpflichtig, wenn die Ware ins Ausland exportiert wird.

Selbstverständlich ist DAVID FELDMAN S.A. immer bereit Ihnen mit den Zollformalitäten zu helfen.

Sollten unsere Kunden diese Formalitäten selbst erledigen, werden wir vom Schweizer Zoll eine Kopie Ihrer Ausfuhrpapiere erhalten.

Falls unsere Kunden wünschen ihre Käufe in der Schweiz zu behalten, wird ihnen MWST von 7,6%, zum zur Zeit der Auktion gültigen Wechselkurs von Euro in CHF umgerechnet, auf den Kaufpreis aufgeschlagen.

3.5 Zahlung: Kaufpreis und Aufgeld sind in Schweizer Franken bei Versteigerungsteilnehmern sofort am Kauftag gegen Aushändigung der Lose fällig. Zahlungen in fremden Währungen werden zum Tageskurs gemäss Abrechnung einer Schweizer Grossbank angenommen. Erfolgreiche schriftliche Bieter und Versteigerungsteilnehmer, deren Zahlung nach dem Verkauf ausdrücklich zugestanden

wurde, haben Kaufpreis und Aufgeld unverzüglich bei Erhalt der Auktionsrechnung zu zahlen.

DAVID FELDMAN S.A. hält die ersteigerten Lose bis zur vollständigen Bezahlung des Rechnungsbetrages zurück. Zustellung der Lose durch die Post oder auf einem anderen Weg, sofern vom Käufer gewünscht, sowie Transportversicherungskosten, gehen auf Rechnung des Käufers.Die Lose ob ausgeliefert oder nicht, bleiben bis zur vollständigen Bezahlung Eigentum der DAVID FELDMAN S.A., stellvertredend für den Einlieferer.

3.6 Erweiterte Zahlungsmöglichkeiten: DAVID FELDMAN S.A. ist gegebenenfalls bereit, Käufern erweiterte Zahlungsmöglichkeiten zu gewähren. Der betreffende Käufer zahlt mindestens 25% des Gesamtrechnungsbestrages bei Erhalt der Rechnung und den Saldo in gleichen Monatsraten über maximal 6 Monate. Der dem Käufer am Ende jedes Monats, vom Auktionsdatum, berechnete Zins beträgt 1%. Bei Gewährung erweiterten Zahlungsmöglichkeiten hält DAVID FELDMAN S.A. die ersteigerten Lose gegebenenfalls bis zur vollen Begleichung des Rechnungsbetrages zurück. Es versteht sich, dass der Käufer die Lose bis zur Auslieferung jederzeit bei DAVID FELDMAN S.A. besichtigen kann.

Reklamationen bezüglich der ersteigerten Lose müssen jedoch innerhalb von 30 Tagen nach dem Versteigerungsdatum eingehen.

3.7 Pfandrecht: Bis zur vollständigen Bezahlung der ausstehenden Schuld bürgt der Kunde gegenüber DAVID FELDMAN S.A. mit seinem durch die DAVID FELDMAN S.A. aufbewahrten Material, welches ihm vor, während und/oder nach dem jeweiligen Verkauf zugesprochen wurde. Dieses Pfand garantiert die Rückzahlung des Forderungsbetrages, der Zinsen, Kommissionen und anderer möglicher Unkosten.

DAVID FELDMAN S.A. ist berechtigt, aber nicht verpflichtet, die verpfändete Ware formlos und ohne Vorankündigung zu veräussern, sollte der Kunde in Zahlungsverzug kommen oder seinen sonstigen Verpflichtungen nicht nachkommen. In diesem Falle ist DAVID ­FELDMAN S.A. nicht verpflichtet, den Vorschriften des Bundesgesetzes über Schuldbetreibung und Konkurs zu folgen. Im übrigen hat DAVID FELDMAN S.A. die Wahl, ein Verfahren einzuleiten oder gegebenenfalls weiterzuführen, ohne die Ware vorher zu verkaufen und ohne sein Anrecht auf das betreffende Material zu verlieren.

4. GARANTIE 4.1 Umfang: Unter Vorbehalt des nachstehenden Paragraphs 4.3. ist die Echtheit aller bei Versteigerungen verkauften philatelistischen Artikel während 30 Tagen nach dem Versteigerungsdatum garantiert. Jegliche andere Garantie oder Garantie für Fehler ist ausdrücklich ausgeschlossen. Jegliche Reklamation bezüglich Echtheit muss unverzüglich nach Erhalt der Lose an DAVID FELDMAN S.A. gerichtet werden, spätestens jedoch innerhalb 30 Tagen nach Versteigerungsdatum. Vor der Zustellung, die nach der 30-Tage-Frist erfolgen kann, können die erstandenden philatelistischen Artikel bei DAVID FELDMAN S.A. besichtigt werden. Ein Käufer, dessen Reklamation nach der Frist von 30 Tagen ab Versteigerungsdatum bei DAVID FELDMAN S.A. eintrifft, verliert jegliches Anrecht auf die Garantie. In diesem Fall wird die Reklamation von DAVID FELDMAN S.A. nicht anerkannt.

Wird im Falle einer Reklamation bezüglich der Echtheit eines philatelistischen Artikels eine Fristverlängerung benötigt, muss diese innerhalb 30 Tagen nach Versteigerungsdatum bei DAVID FELDMAN S.A. beantragt werden. Kein solcher Antrag, welcher nach dieser 30-Tage-Frist bei DAVID FELDMAN S.A. eintrifft, wird in Betracht gezogen. Die Prüfresultate, für deren Einholung eine Fristverlängerung gewährt wurde, müssen bei DAVID FELDMAN S.A. innerhalb von 3 Monaten nach dem Versteigerungsdatum vorliegen. Eine weitere Fristverlängerung kann nur mit schriftlicher Einwilligung von DAVID FELDMAN S.A. gewährt werden. Nur diejenigen Reklamationen, Prüfresultate sowie andere Mitteilungen, die innerhalb der vorgeschriebenen Fristen eintreffen, werden von DAVID FELDMAN S.A. in Betracht gezogen.

4.2. Atteste und Gegenatteste: Bei Echtheitszweifeln obliegt es dem Käufer, als Rechtfertigung seiner Reklamation ein Attest oder Gegenattest von einem für das betreffende Sammelgebiet anerkannten Prüfer beizulegen. Wird eine Marke von einem anerkannten und für Irrtümer haftenden Prüfer als falsch erkannt, kann er sie entsprechend kennzeichnen. Das Zeichen FALSCH gilt dabei nicht als Veränderung.

Bei derartigen Reklamationen behält DAVID FELDMAN S.A. es sich vor, nach eigenem Ermessen ein oder mehrere Atteste anzufordern. Alle Prüfkosten und diesbezügliche Ausgaben fallen bei gerechtfertigter Beanstandung zu Lasten des Einlieferers, anderenfalls jedoch zu Lasten des Käufers. Bei gerechtfertigter Beanstandung wird das Los zurückgenommen und die Zuschlagsumme sowie Aufgeld an den Käufer zurückerstattet. Falls infolge einer Expertise, mit Uebereinstimmung der DAIVD FELDMAN S.A. Zahlungsverzögerungen entstehen, werden 50% der üblicherweise belasteten Zinsen auf jedes Los, dessen Echtheit einwandfrei bewiesen ist erhoben. Ansonsten werden die Standartzinsen berechnet.

4.3 Begrenzung: Lose, die als Sammlungen, Sammellose, Dublettenposten oder Anhäufungen beschrieben sind, haben keinerlei Anrecht auf Reklamation. Beanstandungen von Losen, die als Serien oder Gruppen von Serien aus mehr als einer Briefmarke bestehend beschrieben sind, werden in Grenzen des obigen Punktes 4.1. nur in Betracht gezogen, wenn sie mehr als ein Drittel des Gesamtkaufwerts des entsprechenden Loses darstellen. Für Lose die vom Käufer oder dessen Agenten besichtigt wurden oder mit Fehlern beschrieben sind können deshalb nicht beanstandet werden. Abgebildete Lose können nicht beanstandet werden wenn es sich um Zähnungsfehler, Zentrierung, Rand oder andere im Bild ersichtliche Fehler handelt.

4.4 Zahlungsverzug: Geht die Zahlung der Zuschlagsumme und das Aufgeld nicht innerhalb von 30 Tagen nach Versteigerungsdatum ein, behält DAVID ­FELDMAN S.A. es sich vor, entweder das Kaufgeschäft aufzuheben und über die Lose anderweitig zu verfügen und/oder auf Zahlung des Kaufpreises und Schadenersatz, sowie auch gesetzliche Abgaben zu klagen. Bei Nichtzahlung ausstehender Beträge innerhalb von 30 Tagen nach Versteigerungsdatum, werden Verzugszinsen von ­ wenigstens 5% im ersten Monat und 2% in den darauffolgenden Monaten erhoben; entstandene Unkosten sind ebenfalls zurückzuerstatten. Der in Verzug geratene Käufer verliert in jedem Fall sein Reklamationsrecht.

4.5 Der Zuschlagspreis kann ausnahmsweise auf das tiefste Gebot vermindert werden, wenn der Bieter versehentlich den Preis, durch eine andere Bietmöglichkeit, erhöht hat.

5. GESETZ UND GERICHTSSTAND Diese Auktion sowie die daraus enstandenen Rechte und Pflichten unterliegen ausschliesslich dem Schweizer Gesetz. Jede sich auf diese Auktion beziehende Klage oder Rechtsstreit unterliegen dem Gericht in Genf. Die zuständige Berufungsbehörde ist das Schweizer Bundesgericht in Lausanne.DAVID FELDMAN S.A. behält es sich ferner vor, den Schuldner nach eigenem Ermessen an seinem Wohnsitz zu verklagen, wobei das Schweizer Gesetz Gültigkeit hat. Bei allfälligen Problemen betreffend Preis oder Wert, wird der Euro zum zur Zeit der Auktion gültigen Wechselkurs in CHF umgerechnet.

6. Alle Transaktionen: Diese Konditionen gelten auch für alle Transaktionen die ausserhalb der Versteigerung mit David Felman SA abgeschlossen werden.

01/2007

_

Let us make your reservation

special arrangements have been made with the Geneva hotels below

1 TIFFANY HOTEL ¨¨¨¨

3 HOSTELLERIE DE LA VENDEE

(www.hotel-tiffany.ch)

(www.vendee.ch)

Feldman Galleries: 15 min. by car/taxi,

15 min. by bus no. 2 and no. 19 • the hotel is quietly located only 5 min. from the business and ­shopping district, museums and Old Town. 20 min. from the airport, 10 min. from the main train station • rooms are fitted with mini-bar, personal safe, cable TV, air conditioning, sound proof windows, bathrobe and hairdryer • cosy Belle Epoque style hotel with restaurant, English bar and lounge Room rates: Single with shower CHF 250. breakfast separate. CHF 18.-

Feldman Galleries: 15 min. by car/taxi,

10 min. by bus no. 2 and no. 19 • quietly located, very close to our offices • rooms include bathroom, telephone, cable TV, radio,mini-bar Room rates: Single with shower CHF 182.

Single superieur CHF 234.- breakfast included

2 AUBERGE DE CONFIGNON (www.auberge-confignon.ch)

• •

Feldman Galleries: 10 min. by taxi/car quietly located, very close to our offices country guest house with simple rooms Room rates: Single CHF 140.- breakfast included

4 HOTEL DIPLOMAT ¨¨¨¨¨ non smoking rooms only (hoteldiplomat@bluewinch)

Feldman Galleries: 15 min. by taxi/car

25 min. by bus no. 2 • located in heart of the shopping area, 10 min. from the train station, 20 min. from the airport • rooms include 2 or a double bed, bathroom, telephone, TV, radio, video, mini-bar and room service Room rates: Single with shower/bath CHF 198. Double with bath CHF 238.- breakfast included

The David Feldman Company is pleased to offer 6 months’ credit facilities for auction purchases (Please contact our accounts department in advance of your visit.)

Refreshments and drinks available all day at our cafeteria. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

We would be glad to help you with a hotel reservation.

To benefit from the above special rates, the reservation has to be made through us and MUST be confirmed before 3 April 2007.

Name .............................................................................................................................................................................................................................................................................................................................................................................................

Address ....................................................................................................................................................................................................................................................................................................................................................................................... ......................................................................................................................................................................................................

Tel.: ........................................................................................................................................................................................

Fax: ........................................................................................................................................................................................ Email: .....................................................................................................................................................................................

I intend to visit Geneva and would like to ask you to book the following: 1st Choice: Hotel No. ........................ Type of room(s) ...................................................................................................

Arrival ........................................................................................... 2007

2nd Choice: Hotel No. ........................ Type of room(s) ...................................................................................................

Departure ................................................................................. 2007

Signed ............................................................................................................................

Date ................................................................................................ 2007

For ALL hotel reservations and to avail of this offer you MUST confirm before 3 April 2007 PLEASE CONFIRM BY RETURNING THIS SECTION TO DAVID FELDMAN SA (POST,FAX OR EMAIL)

David Feldman SA, 175 route de Chancy, P.O. Box 81, CH-1213 Onex, Geneva, Switzerland Tel: +41 22 727 07 77, Fax: +41 22 727 07 77, E-mail: admin@davidfeldman.com, Web site: www.davidfeldman.com Representation in 25 cities on all 5 continents

Representation in 25 cities on all 5 continents Management David Feldman - Chairman, Auctioneer Marcus Orsi - Managing Director Philatelists & Outside Assistants Marcus Orsi (Director), David Feldman, Anders Thorell, Gaël Caron, Karol Weyna, Daniel Mirecki, David MacDonnell, ­Tony Banwell, Michael Tseriotis Administration Lydia Stocker (Director), Joël Feldman, Andreia Pereira Accounting Fabrice Bac, Susanne Mongin Technology Romain Kohn (IT), Leigh Merchant (Graphics) Fred Jaquet & Robin Szemeti (Consultants) We have representatives in the following countries: Argentina, Australia, Austria, Canada, China, Cyprus, Greece, Ireland, Israel, Italy, Norway, Sweden, Thailand, UK, USA Please contact our Geneva office for full details.

David Feldman SA, 175 route de Chancy, P.O. Box 81, CH-1213 Onex, Geneva, Switzerland Tel: +41 22 727 07 77, Fax: +41 22 727 07 77, E-mail: admin@davidfeldman.com, Web site: www.davidfeldman.com Representation in 25 cities on all 5 continents