http://www.davidfeldman.com/uploads/previous_auctions/PR/PR_031

David Feldman world leading stamp auctioneers

www.davidfeldman.com

prices realised may 10-17, 2003

UN Archive “Following the completion of the UNPA archives auction I would like to take this opportunity to thank you for your company’s professional handling of the auction and making it a great success for the UN organization.”

United Nations Art and Archives Lots 1 to 8 Realised US$ 3’068’000 as one group David Feldman sets another new world record - the highest price ever paid for a large lot.

Robert Gray UNPA, New York ...............................................................

live dual auction Many of those who attended the sales in person commented that the ability to bid via the Internet has changed dramatically the future of the stamp auction business.

“Someone in Guadalajara or Tokyo or Singapore can ‘watch’ the sale and jump in readily”, said one dealer, “So I have to compete more on large lots and mixed lots which are harder to evaluate from the catalogues, rather than against my customers on items for their collections.

The electronic connection brings an exciting future to the business.”

David Feldman SA 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 admin@davidfeldman.com www.davidfeldman.com

DAVID FELDMAN’S MAY AUCTIONS: APPLAUSE AND CHEERS AMID FIERCE BIDDING, IN THE AUCTION ROOM AND VIA INTERNET With six auction catalogues totalling 20 million Swiss francs (about US $15 million) in pre-sale estimates, the auctions held May 10-18, 2003 proved to be as dramatic and entertaining as any event in philately. Starting with the sale of the “Irina” Finland on Saturday, May 10th, which brought over 2 million Swiss francs, with buyers in sales rooms set up in Helsinki and Geneva, on the telephones and over the Internet, the stage was set for a week of long hours and unprecedented drama. The sale of the Grand Prix Greece Hermes Heads, in Geneva and Athens simultaneously, brought cheers and applause as lots were hammered down to bidders at many new record prices. The sale of the complete philatelic archives of the United Nations on Monday night was a dramatic confrontation among several buyers who had pre-qualified to bid on the lots as a group, with the entire archive going to Champion Stamp Company with a bid of over $3 million US dollars, the new world record realization for a large lot at public auction.

Other sessions included an important collection of the First Issues of Mexico; this popular collecting area had the auction room amazed as nearly 30 bidders connected live via the Internet seemed to take the auction over at times, bidding against each other, with the auctioneer and the bidders in the room in Geneva watching in amazement as prices, visible on a projection screen in the room, soared second by second, punctuated by a polite bell announcing each successive bid. Though some lots did go to room bidders or the telephone, the majority of the lots went to the Internet, with sales totalling about 50% over the pre-sale estimates. Similar bidding from Internet clients punctuated the sale of the “Metliss” collections of Great Britain used in British Europe; for the covers from Cyprus, over 20 bidders were connected electronically, and many bid against each other, against a second sales room in London and against the crowd in Geneva, bringing new price levels for many of the top covers. The same pattern held for the sale of the Stevenson Queensland, with bidders from Australia and England represented in the room by auction agents or live on the Internet, or bidding in the parallel London sales room.

Realised CHF 424’800

The Thursday sale of Destination Mail to and from Ireland, assembled by David Feldman over thirty years, brought many outstanding realizations particularly for items which had not been offered publicly for a generation. Notable among these was the cover illustrated on the front cover of the catalogue, franked by a block of four of the Canada 1857 7 1/2p imperforate, a unique multiple on cover, which brought CHF 425,000, which finds its appropriate home in the Brigham Grand Prix Canada collection. A cover franked with 13 examples of the Great Britain 2p Blue of 1841 including a block of 6 and a strip of 4, the largest recorded franking going abroad, sent from Ireland to Spain, realized CHF 378,000, and a cover from the USA to Ireland with a strip of three 5 cents and one 10 cents of the 1847 issue, brought CHF 248,000 (all prices including commission) Friday’s offer of the “Polaris” collection of Arctic and Antarctic material, the largest such holding in volume and value ever auctioned, brought spirited bidding from both the agents and the Internet against the rest of the auction room. The everpopular large lots and collections, as diverse a group as has ever been assembled, saw knock-down drag-out bidding on the best lots at very strong levels. The final part of the auction, the “Coubertin” Olympics collection, concluded the sales on Saturday, with stunning price levels being obtained for the rarest items, both in the room and to the Internet bidders. While final figures are not yet tabulated, the total sales are sure to be the largest for any single auction in Europe, and probably the world, for this year and possibly for years to come.

Many of those who attended the sales in person commented that the ability to bid via the Internet has changed dramatically the future of the stamp auction business. “Someone in Guadalajara or Tokyo or Singapore can ‘watch’ the sale and jump in readily”, said one dealer, “So I have to compete more on large lots and mixed lots which are harder to evaluate from the catalogues, rather than against my customers on items for their collections. The electronic connection brings an exciting future to the business.”

The next David Feldman Auctions, set for November of this year, are already in preparation, and will contain several important specialized collections as well as general sections of stamps, covers, lots and collections from all over the world. To include your material in these sales, contact David Feldman SA at 175 route de Chancy, 1213 Onex, Geneva, Switzerland or send an email to admin@davidfeldman.com, or contact one of the many international representatives.

Realised CHF 377’600

PRICES REALISED (CHF)

David Feldman SA

Lot

Result

UNITED NATIONS ART AND ARCHIVES

10001 10002 10003 as one 10004 lot 10005 3380000 10006 10008 FINLAND - THE “IRINA” COLLECTION

20000 4000 20001 7000 20002 1200 20003 1200 20004 800 20005 800 20006 1500 20007 1000 20008 1600 20009 15000 20011 4800 20012 5500 20013 3200 20014 3800 20015 3400 20016 2400 20017 1800 20018 2200 20019 18000 20022 360 20023 3200 20024 1500 20025 900 20026 460 20027 380 20028 460 20029 2200 20030 3600 20031 80000 20032 190000 20033 36000 20034 16000 20035 7500 20037 320000 20038 4600 20040 3600 20042 2400 20043 1600 20044 2200 20046 1200 20047 850 20048 750 20049 650 20050 800 20051 850 20052 650 20054 650 20055 3000 20056 600 20057 500 20058 500

Lot

Result

20059 36000 20060 20000 20061 7500 20062 9000 20063 7500 20064 2000 20065 1500 20066 2000 20067 420 20068 3800 20069 1600 20070 200 20071 80000 20072 4400 20073 1800 20074 1600 20076 1200 20077 1300 20078 6000 20079 1100 20080 1100 20081 2200 20082 1100 20084 850 20085 900 20086 1200 20087 850 20088 950 20089 1000 20090 1000 20091 400 20094 1100 20095 400 20096 260 20097 200 20098 120000 20099 260 20100 280 20102 260000 20103 75000 20104 20000 20105 3000 20106 1600 20107 1500 20108 700 20109 650 20110 600 20111 550 20113 850 20114 460 20115 460 20116 500 20117 600 20118 3200 20119 1500 20120 950 20121 1500 20122 1100 20123 1200 20124 1000 20125 8000 20126 4600 20127 300

Lot

Result

20128 340 20129 240 20130 1500 20131 2800 20132 1900 20134 1900 20135 1200 20137 1800 20138 170000 20139 16000 20140 28000 20142 4000 20144 1400 20145 4600 20146 440 20147 400 20148 460 20149 320 20150 650 20151 550 20154 320 20156 2000 20157 700 20158 550 20159 600 20160 550 20161 1900 20162 3800 20163 500 20164 1600 20165 440 20166 360 20168 130 20169 190 20170 340 20171 150 20172 170 20174 1000 20175 1300 20176 10000 20177 320 20178 260 20179 260 20180 340 20181 1100 20183 950 20184 440 20185 220 20186 800 20187 420 20188 100 20189 650 20190 700 20191 1800 20192 1400 20193 1100 20194 150 20195 1000 20196 850 20197 650 20198 420 20199 180 20200 480

Geneva, May, 2003

Lot

Result

Lot

Result

Lot

Result

20201 20202 20205 20207 20208 20209 20210 20211 20213 20214 20215 20216 20217 20218 20219 20220 20221 20222 20223 20224 20225 20229 20230 20231 20232 20233 20234 20235 20236 20237 20238 20239 20240 20241 20242 20244 20245 20246 20247 20248 20249 20250 20251 20252 20253 20254 20255 20256 20257 20258 20259 20260 20261 20262 20263 20264 20265 20266 20267 20268 20269 20270 20271

3000 1100 16000 600 900 5000 900 700 4200 1000 1500 1700 80 1100 3200 280 8500 1400 90 9000 5500 1400 2800 2000 320 850 460 600 700 900 380 360 700 420 1400 110 1200 950 550 500 1700 7500 4000 1500 1000 1500 3800 1700 800 900 2200 1100 32000 1500 850 1300 1900 1400 800 750 6000 1900 2200

20272 20273 20274 20275 20276 20277 20278 20279 20280

2200 900 1500 24000 4200 800 700 1600 1200

30081 30082 30083 30084 30086 30088 30092 30093 30094 30095 30096 30097 30098 30099 30100 30101 30102 30103 30105 30106 30108 30109 30110 30113 30114 30115 30116 30117 30118 30119 30120 30121 30123 30124 30127 30128 30129 30130 30131 30135 30136 30137 30139 30141 30145 30146 30147 30149 30150 30154 30155 30156 30157 30158 30159 30162 30163 30164 30166 30167 30168 30169 30170

340 420 400 1800 3000 2200 15000 700 220 10000 1800 300 420 1400 4000 4000 7500 420 1200 1600 850 5500 2600 40000 1800 650 3400 80 1300 1600 220 1000 300 480 3200 600 600 1000 220 3600 1400 1300 2000 300 600 700 1200 600 4200 950 300 220 340 1300 15000 4000 700 500 4200 1100 1000 440 120

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

GREECE THE GRAND PRIX COLLECTION (I)

30000 30001 30003 30009 30012 30013 30015 30017 30019 30020 30021 30022 30026 30027 30028 30030 30031 30032 30034 30038 30039 30041 30044 30045 30046 30047 30049 30050 30051 30055 30056 30057 30058 30059* 30060 30061 30062 30063 30064 30065 30066 30067 30068 30069 30071 30072 30074 30075 30077 30079 30080

6000 5000 200 300 260 260 200 240 220 200 420 300 500 460 500 800 6000 1200 8000 4000 32000 850 2400 3200 300 2400 1300 1100 3200 1800 4000 1100 950 3200 24000 7500 4000 3200 2800 5500 2000 1700 320 650 1100 2200 650 1500 3000 340 400

3

PRICES REALISED (CHF)

David Feldman SA

Lot 30172 30173 30174 30175 30176 30177 30179 30181 30182 30183 30187 30188 30191 30192 30196 30197 30199 30201 30204 30205 30206 30207 30208 30210 30211 30212 30213 30215 30216 30217 30219 30220 30221 30223 30225 30226 30227 30229 30230 30232 30233 30234 30235 30236 30237 30240 30241 30245 30249 30250 30251 30252 30253 30254 30258 30260 30261 30263 30264 30265 30268 30269 30272

4

Result 600 460 70 240 800 2400 4800 5500 1600 1500 700 480 480 4000 700 6500 950 1800 950 360 260 480 360 1600 340 850 2800 500 700 5000 1300 300 260 300 1600 850 1300 3200 300 800 1500 150 2400 750 400 600 2000 3000 2600 1300 3800 420 420 550 650 380 240 340 2800 420 500 340 8000

Lot

Result

Lot

Result

Lot

30273 30275 30276 30277 30278 30280 30281 30282 30283 30286 30288 30290 30291 30292 30293 30295 30297 30298 30300 30302 30303 30304 30306 30307 30308 30309 30310 30311 30312 30313 30314 30315 30316 30317 30319 30323 30324 30326 30327 30328 30329 30331 30332 30337 30338 30343 30346 30347 30350 30353 30355 30356 30360 30361 30362 30365 30366 30367 30368 30369 30370 30371 30372

8000 1300 800 600 300 950 950 2400 850 1900 2600 220 800 190 1300 500 4000 340 1400 1300 1000 1600 400 900 700 1000 4000 1200 260 1000 3000 600 6500 1500 800 280 750 900 190 1600 280 150 2800 420 240 240 1200 1600 750 170 650 750 3800 4400 2800 1300 1600 850 1700 2400 1100 10000 4600

30374 30375 30378 30379 30380 30381 30385 30386 30387 30388 30391 30392 30393 30394 30395 30396 30397 30399 30400 30402

4200 4000 3800 6200 5500 36000 3000 3000 1900 2000 2200 3800 16000 9500 12000 9500 16000 5500 5500 1500

40065 1500 40069 750 40070 850 40071 400 40074 1600 40076 480 40077 280 40078 1600 40079 1400 40080 1500 40083 1000 40084 150 40085 380 40086 1600 40088 3600 40089 2600 40090 180 40095 5500 40097 1100 40099 3200 40100 1800 40101 1600 40107 300 40108 1000 40111 360 40113 300 40115 1700 40116 1400 40118 2000 40119 320 40121 700 40122 550 40125 2800 40126 900 40127 10000 40128 2600 40130 1600 40132 650 40133 120000 40135 320 40136 4000 40137 240 40138 1600 40139 1200 40141 320 40143 6000 40144 280 40146 8500 40148 1900 40149 900 40149A 1400 40150 2400 40151 1500 40152 2600 40153 400 40154 140 40155 200 40157 300 40158 200 40161 200 40162 750 40164 220 40168 150

THE “EMERALD” COLLECTION OF DESTINATION MAIL OF THE WORLD

40000 240 40001 800 40002 300 40003 200 40004 750 40005 160000 40006 160 40007 4000 40008 1600 40009 950 40010 800 40011 200 40012 200 40013 500 40014 120 40017 170 40018 150 40020 3200 40021 600 40022 800 40024 200 40027 1200 40028 440 40031 220 40035 420 40036 650 40037 380 40038 400 40040 750 40042 300 40043 7000 40050 850 40052 800 40057 400 40058 600 40059 18000 40060 320 40063 300 40064 460

Result

Geneva, May, 2003

Lot

Result

Lot

Result

40169 40172 40173 40175 40176 40177 40178 40180 40181 40182 40183 40184 40187 40188 40189 40191 40192 40193 40195 40196 40197 40198 40201 40202 40203 40204 40205 40206 40207 40208 40210 40211 40212 40213 40214 40215 40216 40217 40218 40219 40220 40221 40222 40223 40224 40225 40226 40227 40228 40229 40230 40231 40232 40233 40234 40235 40236 40237 40238 40239 40240 40241 40244

85 1600 220 500 260 400 240 190 1100 550 1600 240 500 220 220 240 2000 320 150 650 600 320 800 400 360 280 360 400 300 32000 160 3000 1200 200 500 320 650 600 500 460 180 650 6000 340 260 1000 320 1300 180 650 600 900 700 850 440 5500 12000 1500 1000 2600 750 1900 360

40245 40246 40248 40249 40250 40251 40253 40254 40256 40257 40258 40259 40260 40261 40265 40266 40267 40271 40272 40274 40276 40278 40279 40280 40282 40283 40284 40287 40292 40294 40295 40296 40298 40299 40300 40301 40302 40303 40304 40306 40307 40309 40310 40311 40312 40313 40314 40315 40317 40318 40320 40321 40322 40324 40325 40326 40327 40330 40331 40332 40334 40335 40336

240 320 280 480 240 300 260 10000 550 480 440 260 700 700 650 500 200 900 200 460 220 280 150 850 1600 22000 650 320 200 460 500 500 750 100 220 260 140 420 260 400 420 400 600 600 400 4200 2400 8000 750 320 400 700 600 200 600 800 480 2200 550 260 240 8500 8000

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

PRICES REALISED (CHF)

David Feldman SA

Lot

Result

40337 550 40338 300 40339 4200 40343 400 40344 440 40348 300 40350 260 40351 800 40353 420 40354 300 40357 600 40361 380 40362 400 40363 750 40364 300 40365 420 40367 2000 40368 220 40369 420 40371 500 40372 600 40374 320000 40376 4800 40379 150 40380 900 40383 180 40386 1300 40388 4200 40389 650 40392 420 40396 1400 40397 800 40398 700 40399 800 40400 420 40401 400 40402 300 40404 6500 40405 320 40408 380 40409 150 40410 110 40411 260 40413 420 40416 200 40417 1000 40420 550 40421 700 40422 7500 40423 7000 40425 700 40426 300 40427 1800 40429 500 40430 1300 40431 1700 40432 7000 40433 260 40435 180 40436 380 40438 750 40439 460 40441 700

Lot 40442 40443 40444 40448 40449 40450 40451 40453 40454 40455 40457 40458 40459 40460 40462 40463 40464 40465 40467 40468 40469 40470 40471 40473 40474 40476 40477 40480 40481 40482 40483 40484 40485 40486 40487 40488 40489 40490 40491 40492 40493 40494 40496 40497 40498 40500 40501 40502 40504 40506 40507 40508 40509 40510 40511 40512 40513 40515 40516 40518 40519 40521 40522

Result 380 460 300 650 500 600 500 260 1500 3400 1900 1000 550 550 4200 2200 1100 1000 900 280 1200 600 1200 550 400 400 1300 420 900 600 400 900 300 380 850 1500 1000 320 550 320 460 550 200 280 1000 400 800 260 320 1900 850 800 650 460 750 1000 850 400 800 4000 700 100 1600

Lot

Result

Lot

40523 40524 40525 40528 40529 40530 40531 40532 40533 40534 40535 40538 40539 40540 40541 40542 40543 40544 40545 40546 40547 40548 40549 40550 40551 40552 40553 40554 40555 40556 40557 40558 40559 40560 40561 40562 40563 40564 40565 40566 40567 40568 40570 40571 40572 40574 40575 40576 40577 40578 40579 40580 40583 40584 40585 40586 40587 40588 40589 40590 40592 40593 40594

1600 1200 850 240 400 850 420 200 360 280 140 180 500 400 100 280 650 380 550 400 300 460 750 420 700 260 2800 1000 1000 420 750 650 650 1300 2400 2200 1900 280 1300 3800 1600 700 280 550 600 300 3000 2000 500 500 170 220 850 1300 150 190 110 200 180 400 300 18000 3600

40595 14000 40596 360000 40597 4750 40598 15000 40599 6000 40600 950 40601 420 40602 600 40603 550 40605 1200 40606 900 40607 1300 40608 550 40609 400 40611 360 40612 750 40613 440 40614 550 40615 300 40616 480 40617 280 40618 420 40619 360 40620 850 40621 360 40622 1700 40623 80 40624 170 40625 300 40626 800 40627 280 40628 650 40629 400 40630 800 40631 800 40632 500 40633 280 40634 300 40635 420 40636 360 40637 280 40641 220 40642 240 40643 180 40644 220 40646 260 40648 440 40649 280 40650 220 40652 400 40654 200 40655 190 40656 180 40657 100 40659 320 40660 220 40663 750 40664 950 40667 3000 40668 480 40671 190 40672 3000 40673 380

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

Result

Geneva, May, 2003

Lot

Result

Lot

Result

40674 40675 40678 40682 40683 40684 40686 40687 40688 40689 40690 40691 40692 40694 40695 40696 40698 40699 40701 40702 40703 40704 40706 40707 40709 40710 40711 40712 40713 40714 40716 40717 40718 40719 40720 40721 40722 40723 40725 40726 40727 40728 40730 40732 40733 40735 40736 40737 40738 40740 40741 40742 40743 40744 40745 40746 40747 40750 40752 40753 40754 40755 40756

280 180 500 750 4200 5500 600 750 3600 1500 850 700 320 5000 2600 5000 550 440 1100 11000 1000 10000 1300 440 550 2800 16000 2200 850 650 5000 160 300 400 220 100 2200 15000 900 9500 220 4800 650 650 6500 220 200 320 100 460 420 220 550 500 480 650 240 750 650 500 90 1000 2800

40757 40758 40759 40760 40762 40763 40764 40765 40766 40767 40768 40769 40770 40771 40772 40775 40776 40777 40778 40779 40780 40781 40782 40783 40784 40785 40786 40787 40789 40790 40791 40792 40793 40794 40795 40796 40797 40802 40803 40805 40807 40809 40810 40811 40812 40814 40815 40816 40817 40819 40820 40821 40822 40823 40824 40825 40826 40827 40828 40829 40830 40831 40832

600 900 420 240 200 110 320 42000 500 1400 120 1400 500 700 180 480 480 380 480 500 800 300 650 240 1700 200 220 650 440 650 120 160 300 130 380 180 200 300 280 480 750 190 240 150 150 650 300 240 440 190 420 220 65 100 380 90 180 420 400 280 140 1400 300

5

PRICES REALISED (CHF)

David Feldman SA

Lot

Result

Lot

Result

Lot

40834 40835 40836 40841 40844 40845 40846 40849 40851 40852 40853 40854 40855 40856 40857 40858 40859 40860 40861 40862 40863 40864 40865 40866 40867 40868 40869 40870 40871 40872 40873 40874 40878 40879 40880 40881 40884 40885 40886 40887 40888 40891 40892 40893 40896 40897 40898 40900 40901 40903 40904 40905 40906 40907 40908 40909 40910 40911 40912 40913 40914 40915 40917

380 6000 3400 500 600 80 240 3000 300 1100 850 460 240 420 15000 440 340 130 2000 20000 600 220 750 900 3400 950 500 1000 420 400 300 320 110 260 150 160 440 600 180 1700 1800 400 100 1100 340 320 480 900 2800 4000 600 950 500 400 750 900 1400 1100 600 2800 420 320 2000

40918 40920 40921 40922 40923 40926 40928 40929 40930 40931 40933 40935 40936 40937 40938 40939 40942 40943 40944 40945 40946 40947 40948 40949 40951 40952 40953 40954 40955 40956 40957 40958 40959 40960 40961 40962 40964 40965 40967 40968 40969 40972 40973 40974 40975 40977 40978 40979 40980 40981 40982 40983 40984 40985 40986 40987 40988 40989 40990 40991 40992 40993 40994

320 260 550 420 400 400 650 480 1200 360 500 4200 1100 1400 420 500 320 400 500 1100 5500 190 800 550 4600 150 950 950 8000 440 500 420 380 360 700 500 1700 850 900 800 420 380 420 420 380 2600 600 900 500 1400 2200 3400 8500 60000 5500 3600 1100 1700 5000 5500 5000 3800 2800

40995 1500 40996 600 40997 260 40998 440 40999 440 41000 400 41002 200 41003 500 41004 280 41005 210000 41006 240 41007 5500 41008 6000 41010 1700 41011 380 41013 650 41014 550 41015 170 41016 20000 41017 550 41018 1100 41019 3200 41020 1500 41021 800 41023 1400 41024 1000 41027 2600 41028 750 41030 650 41031 1500 41032 2000 41033 1900 41034 1100 41035 1400 41037 1200 41038 360 41042 650 41043 1100 41044 1300 41045 280 41046 1100 41047 650 41048 900 41049 420 41050 1100 41051 800 41052 420 41057 200 41058 9500 41060 190 41061 400 41062 550 41063 700 41064 320 41065 480 41066 950 41067 440 41069 550 41070 480 41072 400 41073 550 41076 380 41079 280

6

Result

Lot

Result

41080 41084 41085 41087 41088 41091 41093 41095 41098 41100 41101 41106

850 650 200 220 1500 200 300 240 200 480 850 260

ALL WORLD

50000 50001 50002 50004 50006 50017 50018 50020 50021 50022 50023 50024 50030 50031 50033 50034 50036 50037 50038 50039 50040 50042 50044 50047 50049 50054 50055 50056 50057 50059 50060 50061 50063 50064 50065 50066 50067 50068 50069 50070 50071 50072 50073 50074 50075 50076 50077 50078 50080

3200 2000 340 650 500 200 400 120 200 400 2200 800 360 420 9000 6000 1000 950 11000 1000 700 440 1100 700 300 750 1000 300 800 440 320 360 1100 850 440 600 950 2200 1400 1000 1100 1400 2200 4200 1700 420 1900 260 1100

Geneva, May, 2003

Lot

Result

Lot

50083 50085 50086 50087 50088 50089 50090 50091 50093 50094 50095 50096 50099 50100 50101 50104 50105 50106 50107 50109 50110 50111 50112 50113 50114 50116 50120 50124 50125 50129 50132 50134 50136 50139 50140 50141 50143 50146 50147 50149 50154 50156 50157 50158 50159 50160 50161 50162 50163 50164 50165 50166 50168 50169 50170 50171 50172 50174 50176 50177 50178 50180 50181

500 3200 2800 1700 900 2500 1900 900 190 280 170 280 6000 170 2200 1100 700 550 900 5500 6000 2400 650 140 2200 200 420 1300 600 11000 550 500 600 260 900 280 750 5500 420 220 900 460 600 650 650 400 1400 480 320 650 400 650 1500 2800 200 280 460 650 240 850 750 550 220

50183 50186 50190 50191 50192 50193 50194 50195 50196 50198 50199 50200 50201 50203 50204 50205 50206 50207 50208 50209 50210 50211 50212 50213 50214 50215 50216 50217 50218 50219 50220 50221 50223 50224 50225 50226 50227 50228 50229 50230 50231 50232 50233 50234 50235 50236 50237 50238 50239 50240 50241 50242 50243 50245 50246 50247 50249 50250 50251 50253 50254 50255 50256

Result 280 650 550 1500 460 700 90 170 420 800 320 2600 950 320 280 170 240 190 700 850 220 130 380 650 280 420 500 200 550 220 1900 420 170 400 160 400 550 340 340 100 700 180 170 280 700 240 800 240 550 220 340 750 320 750 1000 800 220 400 150 150 100 190 2800

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

PRICES REALISED (CHF)

David Feldman SA

Lot

Result

Lot

Result

Lot

Result

Lot

50257 50258 50259 50260 50261 50262 50263 50264 50265 50266 50267 50268 50269 50270 50271 50272 50286 50300 50305 50309 50310 50311 50313 50315 50316 50317 50318 50320 50321 50322 50323 50324 50325 50326 50327 50329 50330 50331 50332 50334 50335 50336 50337 50338 50340 50341 50342 50343 50345 50346 50347 50348 50350 50351 50352 50354 50355 50356 50357 50358 50359 50360 50361

240 340 220 380 380 160 160 320 320 440 320 400 400 320 2400 440 550 500 240 280 190 2800 2600 500 360 4000 2200 200 340 1500 420 170 6500 4600 800 2200 400 650 5000 1700 2200 2400 240 7500 5000 90 260 850 3200 6500 3600 2800 400 240 900 3600 170 7000 8000 500 13000 9000 1200

50362 50363 50364 50365 50366 50368 50371 50372 50373 50374 50375 50376 50378 50379 50382 50384 50387 50389 50390 50391 50392 50393 50394 50395 50397 50399 50404 50407 50409 50410 50411 50413 50416 50417 50418 50419 50420 50421 50422 50423 50424 50425 50426 50427 50428 50431 50432 50433 50435 50438 50439 50440 50442 50444 50445 50446 50447 50448 50449 50450 50452 50455 50456

1100 1200 900 900 1000 380 950 2800 1400 1400 1100 8000 260 400 3200 800 4600 2800 12000 8000 550 17000 36000 1800 500 4200 1400 2200 1000 280 2800 600 2400 2200 2600 340 1200 8000 400 1100 4800 4000 1000 2000 3200 600 2600 400 1500 300 800 1200 600 4000 4200 20000 800 38000 850 120 3600 900 950

50457 50458 50460 50462 50464 50465 50466 50467 50468 50469 50470 50471 50472 50473 50474 50475 50476 50478 50479 50480 50481 50483 50484 50485 50486 50487 50488 50494 50497 50502 50504 50506 50511 50512 50517 50518 50520 50524 50526 50527 50530 50531 50532 50533 50534 50535 50540 50555 50558 50560 50561 50566 50572 50573 50574 50580 50589 50592 50593 50594 50595 50596 50597

3000 600 2200 3600 8000 100 13000 7000 460 300 650 700 200 600 1100 110 600 1600 4800 3200 480 420 13000 380 800 480 380 300 240 110 200 220 280 1500 220 200 200 80 100 900 500 110 600 320 150 120 4600 200 220 1800 320 220 160 180 220 300 150 260 700 400 160 100 100

50598 50607 50611 50612 50613 50614 50616 50617 50621 50623 50624 50626 50630 50635 50643 50644 50646 50658 50661 50666 50668 50669 50670 50671 50687 50701 50704 50705 50714 50715 50716 50717 50718 50720 50722 50723 50724 50727 50734 50735 50736 50737 50738 50739 50740 50741 50743 50744 50749 50752 50753 50754 50760 50761 50762 50764 50765 50772 50783 50784 50788 50789 50797

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

Result 130 200 100 900 300 1200 650 100 190 700 1100 650 200 220 1500 320 200 300 260 50 90 360 220 1000 500 90 380 130 1100 300 1900 360 320 750 850 1400 400 360 260 500 100 400 400 400 220 320 500 550 130 340 2400 800 380 900 1200 180 900 2900 110 1800 100 320 120

Geneva, May, 2003

Lot 50799 50807 50808 50810 50811 50817 50818 50820 50821 50822 50823 50825 50826 50827 50828 50829 50830 50832 50833 50834 50837 50838 50839 50840 50842 50846 50848 50850 50853 50854 50857 50861 50862 50864 50865 50869 50870 50872 50888 50889 50891 50892 50903 50905 50907 50908 50911 50920 50929 50940 50942 50944 50945 50949 50952 50954 50955 50956 50957 50958 50960 50962 50965

Result 100 480 130 280 260 750 240 360 120 550 110 170 300 1400 260 400 60 600 600 200 100 100 300 700 240 200 260 110 100 400 190 200 100 300 220 300 4200 320 500 1200 400 200 700 160 100 140 100 50 460 80 160 220 850 380 200 460 400 360 100 200 110 600 110

Lot 50967 50968 50970 50971 50973 50974 50975 50976 50978 50980 50985 50986 50991 50992 50993 50995 50996 50997 50998 50999 51001 51002 51004 51007 51008 51010 51011 51012 51014 51016 51017 51018 51019 51023 51024 51026 51031 51032 51034 51035 51037 51038 51043 51044 51045 51046 51047 51050 51052 51054 51055 51056 51059 51062 51064 51068 51070 51071 51072 51073 51074 51075 51076

Result 50 200 300 100 180 800 300 420 200 550 360 1600 220 420 600 240 5200 220 300 360 200 100 460 900 1000 4800 400 180 650 100 120 190 260 1800 3000 750 320 600 1200 400 220 1500 200 320 400 240 1900 1000 260 240 240 320 100 380 170 140 100 140 110 1100 200 380 400

7

PRICES REALISED (CHF)

David Feldman SA

Lot 51077 51078 51079 51080 51081 51083 51088 51089 51090 51091 51092 51093 51094 51095 51096 51097 51098 51099 51100 51101 51102 51104 51105 51106 51107 51109 51110 51112 51113 51114 51115 51116 51117 51118 51119 51120 51121 51122 51123* 51124 51125 51126 51127 51128 51129 51130 51131 51132 51133 51134 51135 51136 51137 51138 51139 51140 51141 51142 51143 51144 51145 51147 51148

8

Result 3200 750 1000 1600 1900 200 150 100 80 220 480 340 100 200 800 150 160 1400 2400 300 80 260 1000 1900 1300 3400 1700 500 400 300 280 650 300 260 150 150 90 900 850 100 130 60 40 160 60 220 400 400 420 60 360 340 300 280 190 850 1200 700 90 2800 120 280 500

Lot

Result

Lot

51149 51150 51151 51152 51153 51154 51155 51156 51157 51158 51159 51160 51161 51162 51164 51165 51166 51167 51168 51169 51170 51171 51172 51173 51174 51175 51176 51177 51178 51180 51181 51182 51183 51184 51185 51186 51187 51188 51189 51190 51191 51192 51193 51194 51195 51196 51197 51199 51201 51204 51205 51206 51207 51208 51209 51210 51212 51213 51215 51216 51217 51218 51219

220 320 500 130 480 380 100 300 150 300 600 750 200 1400 1200 180 4000 3400 500 9000 170 4200 480 480 220 800 4800 800 110 200 460 400 550 950 700 18000 950 1500 800 420 700 280 200 1800 200 300 1300 750 200 550 440 100 180 360 240 440 480 800 1200 650 4600 1600 700

51220 51221 51222 51223 51224 51225 51226 51227 51228 51229 51230 51231 51232 51234 51235 51236 51238 51239 51240 51241 51242 51243 51245 51246 51247 51248 51249 51250 51252 51256 51258 51260 51262 51263 51264 51265 51267 51268 51271 51272 51273 51275 51276 51277 51280 51281 51282 51284 51289 51291 51292 51293 51295 51297 51298 51299 51300 51301 51302 51305 51306 51307 51309

Result 1000 190 90 480 360 180 220 1400 550 280 2000 1100 1400 200 650 2600 80 420 900 380 110 380 120 400 100 150 260 300 150 260 420 1200 1100 600 200 110 800 440 2000 1700 4200 4600 9000 1800 4000 320 600 240 220 170 220 140 150 260 600 500 1300 1100 300 460 100 400 340

Geneva, May, 2003

Lot

Result

Lot

Result

Lot

51310 51314 51315 51319 51324 51328 51329 51330 51333 51334 51337 51338 51339 51340 51341 51342 51344 51349 51350 51351 51352 51353 51354 51359 51360 51361 51362 51365 51371 51380 51381 51384 51385 51386 51387 51392 51393 51396 51397 51399 51400 51404 51407 51408 51409 51414 51415 51417 51418 51420 51421 51422 51424 51425 51426 51427 51428 51429 51430 51431 51432 51433 51434

65 100 400 160 340 200 110 140 160 1500 700 2200 280 280 1100 150 1000 170 400 900 320 1000 3000 1000 500 300 300 200 280 7500 200 480 200 200 700 1600 160 360 3600 4800 1900 1400 100 500 1100 1500 1700 1400 1500 300 900 300 1500 6000 22500 7500 1100 400 4200 600 7500 4200 1600

51435 51436 51437 51440 51444 51445 51446 51447 51448 51449 51451 51452 51454 51455 51456 51457 51458 51459 51460 51461 51462 51465 51466 51467 51468 51469 51470 51471 51472 51473 51475 51476 51478 51480 51482 51486 51488 51489 51490 51491 51492 51493 51494 51495 51496 51499 51500 51501 51502 51503 51504 51505 51506 51507 51508 51509 51511 51512 51513 51514 51515 51516 51517

380 550 220 130 380 380 380 380 2400 600 650 280 1100 280 300 600 600 480 700 500 220 100 80 750 80 420 300 750 180 220 15000 36000 380 260 120 850 220 380 1500 320 240 380 500 950 480 500 1100 2000 1800 2000 1700 500 1200 1800 420 300 1500 380 750 3400 80 600 80

51520 51521 51522 51523 51524 51525 51527 51528 51530 51531 51532 51533 51536 51538 51539 51540 51541 51542 51544 51545 51546 51548 51549 51550 51551 51552 51553 51554 51555* 51556 51557 51558 51559 51560 51561 51562 51563 51564 51565 51566 51567 51568 51569 51570 51571 51572 51573 51574 51575 51576 51577 51578 51579 51580 51581 51582 51583 51584 51585 51586 51587 51588 51589

Result 200 120 220 450 190 190 480 100 600 1200 500 550 260 400 420 340 420 320 600 160 4200 420 400 600 1800 1000 800 700 850 1500 950 550 2000 1200 500 1700 1100 750 320 600 220 120 550 460 160 420 340 500 340 700 925 850 700 340 550 300 120 900 600 480 300 1100 1300

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

PRICES REALISED (CHF)

David Feldman SA

Lot 51590 51591 51592 51593 51594 51595 51596 51599 51600 51602 51603 51605 51606 51607 51608 51610 51611 51612 51613 51614 51615 51616 51617 51619 51620 51621 51622 51623 51624 51625 51626 51627 51629 51630 51631 51632 51633 51634 51635 51636 51637 51638 51639 51640 51641 51642 51643 51644 51645 51646 51647 51648 51649 51650 51651 51652 51653 51654 51655 51656 51657 51658 51659

Result 220 200 1000 2600 440 400 320 200 1300 1100 850 240 360 420 950 480 400 220 460 200 100 480 480 650 240 100 150 380 480 130 1100 400 1300 800 600 420 550 650 440 440 600 300 700 240 480 280 2600 950 380 550 500 700 600 200 400 460 420 550 500 320 320 380 240

Lot 51660 51661 51662 51667 51668 51669 51671 51672 51673 51674 51675 51676 51677 51678 51679 51680 51681 51682 51683 51693 51699 51703 51715 51721 51722 51724 51730 51733 51734 51735 51736 51744 51749 51750 51753 51754 51755 51756 51757 51758 51761 51765 51767 51768 51769 51773 51774 51775 51776 51777 51779 51781 51782 51783 51784 51786 51787 51788 51790 51791 51794 51795 51797

Result 600 280 4000 320 800 300 600 5500 1600 1600 750 3000 900 400 4800 1400 200 300 1200 400 200 200 400 2400 460 280 360 200 950 8000 80 1900 420 320 420 480 460 400 190 380 300 2600 1000 240 1700 300 320 150 150 280 200 500 700 800 1600 360 1200 2800 260 360 1200 1400 260

Lot

Result

Lot

51798 51799 51800 51801 51802 51803 51804 51805 51806 51807 51808 51810 51811 51812 51813 51814 51815 51816 51817 51818 51819 51820 51821 51822 51823 51824 51825 51827 51828 51830 51833 51837 51839 51840 51845 51849 51856 51859 51860 51865 51869 51871 51873 51874 51875 51876 51878 51879 51880 51881 51882 51883 51885 51889 51893 51900 51901 51903 51904 51905 51906 51907 51908

2000 400 320 750 800 500 1200 800 850 1600 380 1700 280 700 280 260 700 650 1200 160 850 380 700 1600 400 2600 240 620 130 280 400 400 160 110 420 850 240 440 300 100 80 300 180 150 200 300 3600 2800 11000 4400 6000 9000 110 100 150 320 380 1600 4000 380 300 480 300

51909 51911 51912 51913 51914 51915 51916 51917 51918 51919 51920 51921 51922 51923 51928 51929 51934 51935 51939 51942 51943 51944 51945 51946* 51947 51949 51950 51952 51953 51954 51955 51956 51958 51959 51960 51961 51962 51963 51966 51967 51969 51970 51972 51973 51974 51975 51976 51977 51978 51979 51983 51984 51985 51986 51991 51992 51993 51994 51995 51996 51997 52001 52003

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

Result 500 460 1300 650 650 300 1000 300 360 420 300 260 650 460 380 400 150 200 260 90 850 2400 440 300 950 260 320 2600 150 320 3200 700 280 360 900 4200 380 260 380 320 1000 500 320 4000 550 100 1700 1300 550 1700 240 420 850 1200 280 1200 500 70 850 1300 320 150 1800

Geneva, May, 2003

Lot

Result

Lot

52004 52008 52009 52010 52011 52017 52020 52029 52030 52031 52041 52042 52045 52046 52047 52048 52050 52051 52056 52057 52059 52062 52064 52076 52078 52080 52083 52085 52091 52092 52098 52099 52100 52101 52102 52103 52104 52105 52106 52107 52108 52109 52110 52111 52112 52113 52114 52115 52116 52117 52118 52119 52120 52121 52122 52123 52124 52125 52126 52127 52128 52129 52130

2700 360 340 340 260 12000 2100 16000 1700 1400 1500 2000 300 7000 9500 8500 150 260 650 100 1800 190 1100 300 550 500 300 4200 550 1200 1400 420 460 750 1200 900 1000 700 750 550 1900 3000 550 750 550 550 800 950 200 850 550 1300 800 500 2400 500 800 1300 380 800 280 320 550

52131 52132 52133 52134 52135 52136 52137 52138 52139 52140 52141 52142 52143 52144 52145 52146 52147 52148 52149 52150 52151 52152 52153 52154 52155 52156 52157 52158 52159 52162 52165 52166 52167 52168 52172 52173 52176 52177 52179 52180 52183 52185 52186 52187 52188 52192 52194 52195 52196 52197 52198 52199 52200 52202 52206 52207 52208 52209 52210 52211 52212 52213 52214

Result 600 500 440 340 340 850 950 750 900 400 1500 440 750 1500 2400 190 850 1300 1200 460 900 360 2600 600 4000 1600 800 200 180 300 200 1000 4400 380 650 2800 1300 1400 1800 1900 500 700 240 7000 220 1000 480 380 300 800 340 380 200 2800 700 1400 500 1500 200 100 80 360 160

9

PRICES REALISED (CHF)

David Feldman SA

Lot

Result

Lot

Result

Lot

52215 52216 52217 52218 52219 52220 52221 52222 52223 52224 52225 52226 52227 52228 52229 52230 52231 52232 52233 52234 52235 52236 52237 52238 52239 52240 52241 52242 52243 52244 52245 52246 52247 52248 52249 52250 52251 52252 52253 52254 52255 52258 52260 52261 52262 52263 52264 52265 52266 52267 52268 52269 52270 52271 52272 52273 52274 52275 52276 52277 52278 52279 52280

950 650 440 300 220 150 1800 65 300 160 100 100 1200 90 180 190 120 240 170 200 200 320 800 28000 420 6000 800 1400 17000 70 50 750 130 190 360 400 360 80 130 120 600 260 300 420 360 1100 1600 3400 900 1600 550 360 460 240 1800 1800 650 600 200 750 1900 150 6500

52281 52282 52283 52284 52285 52286 52287 52288 52289 52290 52291 52292 52293 52294 52295 52296 52297 52298 52299 52300 52301 52302 52303 52304 52305 52306 52307 52308 52309 52310 52311 52312 52313 52314 52315 52316 52317 52318 52320 52321 52322 52323 52324 52328 52329 52330 52331 52332 52333 52335 52336 52337 52342 52345 52346 52347 52348 52349 52350 52351 52352 52353 52354

2600 4000 600 800 440 1800 7500 1900 2600 2200 650 460 1900 2400 2200 900 1100 600 480 9500 1200 600 260 1200 2800 550 400 2200 440 46000 2000 3800 1000 1700 2600 320 3400 750 110 160 220 150 2200 150 320 420 240 260 380 550 110 160 200 100 850 600 460 600 180 700 550 440 1100

52355 52356 52358 52360 52361 52364 52370 52372 52373 52376 52377 52378 52379 52380 52381 52382 52388 52398 52399 52400 52402 52403 52408 52410 52413 52414 52415 52424 52425 52426 52428 52429 52430 52431 52433 52435 52436 52437 52438 52439 52440 52441 52442 52443 52444 52446 52447 52448 52449 52450 52451 52452 52453 52454 52455 52456 52457 52458 52459 52460 52461 52464 52466

10

Result 1100 700 200 1400 110 400 120 2600 800 100 4200 2000 400 420 850 600 600 400 2400 400 950 360 1200 400 420 420 1400 420 400 200 170 140 1400 300 1900 7500 400 1600 600 950 1100 800 750 1100 320 600 260 220 420 160 500 400 240 320 260 80 500 260 1400 1500 380 220 200

Lot 52467 52469 52481 52482 52483 52484 52485 52487 52489 52490 52491 52492 52493 52494 52495 52496 52497 52498 52499 52500 52501 52502 52503 52504 52505 52506 52507 52508 52509 52510 52511 52512 52513 52514 52515 52516 52517 52518 52520 52521 52523 52524 52525 52526 52527 52529 52531 52532 52534 52535 52536 52537 52538 52539 52540 52541 52542 52543 52544 52547 52548 52549 52550

Result 550 3600 1700 140 380 100 200 1900 1800 650 700 550 2000 800 950 420 280 180 750 550 420 950 1400 360 550 500 2800 1900 750 500 340 300 550 220 1500 1100 1100 340 110 340 1000 600 750 650 550 480 400 180 600 400 950 220 7000 3400 650 6500 6000 1400 460 190 380 1200 180

Geneva, May, 2003

Lot 52551 52553 52554 52555 52556 52557 52559 52560 52561 52565 52567 52568 52569 52570 52572 52573 52574 52575 52576 52577 52578 52579 52580 52581 52582 52583 52584 52585 52586 52587 52588 52589 52590 52591 52592 52593 52594 52596 52598 52599 52600 52601 52602 52603 52604 52605 52606 52607 52608 52610 52611 52612 52613 52614 52615 52616 52617 52618 52619 52620 52621 52622 52623

Result 380 220 150 200 7000 460 550 700 700 280 800 220 220 550 800 550 380 280 440 2000 1600 600 550 1100 420 600 1100 650 1500 750 1200 6500 550 200 750 420 300 280 340 550 170 460 300 650 1400 400 420 340 800 460 180 550 1200 480 380 400 440 280 500 340 460 380 700

Lot 52624 52625 52626 52627 52629 52630 52631 52632 52633 52634 52635 52637 52638 52639 52647 52668 52669 52670 52671 52672 52673 52675 52676 52677 52678 52679 52681 52682 52683 52684 52685 52686 52688 52689 52690 52691 52692 52693 52695 52697 52698 52699 52700 52701 52702 52703 52704 52705 52706 52708 52709 52710 52711 52712 52713 52714 52716 52717 52718 52719 52720 52721 52722

Result 380 700 420 5000 5500 6500 7000 1000 750 1100 240 300 600 420 1000 300 1900 800 1900 320 1500 320 480 750 1000 850 850 160 750 850 200 130 200 300 460 1700 850 200 360 320 440 1300 5500 2300 2000 300 800 260 500 360 420 400 360 900 550 750 440 320 650 800 600 700 1900

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

PRICES REALISED (CHF)

David Feldman SA

Lot 52723 52724 52725 52726 52727 52728 52729 52730 52731 52732 52733 52734 52735 52736 52737 52738 52739 52740 52741 52742 52743 52744 52745 52746 52747 52748 52749 52750 52751 52753 52754 52759 52760 52761 52762 52763 52764 52765 52766 52767* 52768 52769 52770 52772 52776 52780 52782 52785 52786 52787 52788 52793 52794 52795 52797 52799 52800 52801 52807 52809 52811 52812 52817

Result 950 320 160 850 1500 3600 650 2000 900 340 260 170 800 700 1100 340 200 200 1900 800 800 850 220 1700 1400 750 360 260 1200 850 2400 5000 6000 440 3000 1800 4000 2800 1100 360 500 300 1500 700 2400 3000 420 3200 1300 460 900 600 200 1400 900 3800 320 420 3000 300 480 200 280

Lot 52819 52821 52824 52825 52826 52827 52829 52832 52834 52835 52836 52837 52838 52839 52840 52841 52842 52843 52844 52846 52847 52848 52849 52851 52852 52854 52855 52856 52857 52858 52859 52860 52861 52862 52863 52866 52867 52869 52870 52872 52875 52876 52877 52879 52880 52882 52884 52886 52887 52889 52891 52892 52893 52894 52895 52896 52897 52898 52900 52901 52902 52903 52904

Result 850 1400 1400 900 5000 2800 170 280 600 5000 1100 5500 1500 2200 1600 800 2800 6500 750 500 750 750 700 440 4600 1500 550 1100 1500 3800 1000 320 750 4000 650 600 900 5500 750 1200 420 400 300 1700 1000 600 7500 400 3600 1500 600 950 500 8000 1700 440 1600 850 2200 380 500 800 750

Geneva, May, 2003

Lot

Result

Lot

Result

Lot

Result

Lot

Result

52905 52906 52907 52908 52909 52910 52911 52912 52913 52914 52915 52916 52917 52918 52919 52920 52921 52922 52923 52924 52925 52926 52927 52929 52930 52932 52933 52934 52935 52936 52937 52938 52939 52942 52943 52944 52945 52946 52947 52948 52949 52950 52951 52952 52953 52957 52958 52959 52960 52962 52963 52965 52966 52967 52968 52969 52970 52971 52972 52973 52974 52975 52977

1000 850 3400 440 420 1300 700 280 500 900 850 650 950 1000 950 900 550 1700 850 2200 8500 700 2200 7000 950 700 850 600 550 1100 380 650 420 850 5000 650 500 3800 28000 1600 1400 850 600 3000 700 1200 700 400 1500 600 700 420 1200 4400 950 2000 900 3800 2400 16000 1100 1500 600

52978 52979 52981 52982 52983 52985 52986 52987 52988 52989 52990 52991 52992 52993 52994 52995 52996 52997 52998 52999 53000 53001 53002 53003 53004 53006 53007 53008 53009 53010 53011 53012 53013 53014 53015 53016 53017 53019 53020 53021 53022 53023 53024 53025 53026 53027 53028 53029 53030 53031 53032 53033 53034 53035 53036 53037 53038 53039 53040 53041 53042 53043 53044

1100 5500 700 700 1300 460 4600 750 1800 380 4200 48000 2200 2800 1400 38000 2200 5000 6500 2800 4400 1200 1200 1700 3000 2400 1100 500 440 650 26000 9000 3200 600 420 1300 1300 320 1000 550 8500 400 280 200 360 550 1100 200 9000 150 440 150 550 260 19000 9000 1600 1800 320 300 340 2600 750

53045 53046 53047 53048 53049 53050 53051 53052 53053 53054 53055 53056 53057 53058 53059 53060 53061 53062 53063 53064 53065 53066 53067 53068 53069 53070 53071 53072 53073 53074 53075 53076 53077 53078 53079 53080 53081 53082 53083 53084 53085 53086 53087 53088 53089 53090 53091 53092 53093 53094 53095 53096 53097 53098 53099 53100 53101 53102 53103 53104 53105 53106 53107

1300 2800 22000 12000 2000 12000 2000 1600 13000 340 850 300 550 3000 4200 4400 4600 5000 5000 6000 150 380 200 2400 850 550 1000 18000 2600 16000 1100 950 1200 24000 7000 3000 1000 1600 24000 1300 2600 1000 600 20000 7000 1500 2800 950 900 600 600 800 1700 480 1400 550 550 600 1900 700 320 1900 100

53108 53109 53110 53111 53112 53113 53114 53115 53116 53117 53118 53119 53120 53121 53122 53123 53124 53125 53126 53127 53128 53129 53130 53131 53132 53133 53134 53135 53136 53137 53138 53139 53140 53141 53142 53143 53144 53145 53146 53147 53148 53149 53150 53151 53152 53153 53154 53155 53156 53157 53158 53159 53160 53161 53162 53163 53164 53165 53166 53167 53168 53169 53170

5500 1900 2200 2200 800 2600 2000 2200 1000 220 250 12000 1600 550 320 1500 480 360 4200 2000 2400 380 320 460 4000 600 850 420 420 420 3800 750 350 3600 850 1400 460 120 650 950 650 900 900 380 380 650 700 420 320 300 220 500 420 220 480 3800 1400 1300 420 300 2200 2000 5500

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

11

PRICES REALISED (CHF)

David Feldman SA

Lot

Result

Lot

53171 53172

9500 22000

60084 60085 60086 60087 60088 60089 60090 60091 60092 60093 60096 60098 60100 60105 60108 60111 60112 60113 60114 60115 60116 60117 60118 60120 60123 60124 60126 60127 60128 60131 60132 60133 60136 60137 60138 60139 60140 60141 60143 60144 60145 60146 60147 60149 60150 60151 60153 60154 60155 60156 60157 60158 60159 60160 60161 60162 60163 60164 60165 60166 60167 60169 60171

THEMATICS AND COLLECTIONS

60000 60001 60002 60003 60004 60005 60006 60007 60008 60009 60011 60014 60015 60016 60017 60018 60020 60024 60025 60027 60029 60030 60031 60032 60033 60035 60037 60038 60039 60040 60041 60042 60043 60044 60045 60046 60047 60052 60056 60058 60061 60062 60063 60064 60065 60066 60069 60072 60073 60074 60075 60077 60078 60079 60080 60081 60082 60083

12

5500 320 8000 3800 6500 7000 700 6000 3200 3200 1400 1300 3000 2000 3800 3500 900 950 220 360 1700 2800 500 4200 3000 1900 1700 3800 700 1900 320 700 360 1100 1100 4200 2600 6500 300 2200 220 1200 380 550 1700 1600 3000 650 1100 1100 800 1600 6500 1300 650 2800 1100 1000

Result 1000 850 650 2700 3000 1600 1100 1100 650 2000 440 200 850 950 1600 800 340 460 1200 800 160 3400 1800 120 1000 1100 420 600 260 700 440 1000 2200 3600 360 320 650 1300 2300 1100 650 340 300 1000 100 1200 650 1300 3000 3400 1800 950 4400 4000 5000 800 380 1100 950 900 110 260 1500

Lot 60174 60175 60176 60177 60178 60179 60181 60182 60183 60185 60186 60187 60190 60191 60192 60193 60203 60204 60208 60209 60212 60213 60214 60216 60218 60219 60221 60222 60225 60227 60230 60231 60236 60237 60238 60239 60240 60241 60242 60243 60244 60247 60248 60249 60251 60253 60254 60256 60257 60258 60259 60260 60261 60262 60263 60264 60265 60266 60267 60268 60270 60271 60272

Result 360 550 1200 300 900 500 550 1100 3000 2800 500 850 220 300 6000 1800 4400 3200 1200 380 500 1000 500 420 150 460 180 1400 1200 420 3200 1900 1400 500 850 300 480 600 500 6500 260 1000 1400 150 1500 950 900 260 260 2000 1400 1300 80 1400 300 1000 280 150 440 4000 100 1400 130

Geneva, May, 2003

Lot

Result

Lot

Result

Lot

Result

60273 60274 60275 60279 60281 60284 60286 60287 60288 60289 60290 60291 60292 60294 60295 60296 60299 60300 60301 60302 60304 60306 60307 60308 60310 60311 60316 60318 60319 60320 60321 60322 60323 60324 60325 60326 60327 60328 60329 60330 60331 60332 60333 60334 60335 60336 60337 60338 60339 60340 60341 60342 60343 60344 60345 60346 60347 60348 60349 60350 60351 60352 60353

300 420 320 100 280 400 360 100 300 110 300 100 550 350 22000 1300 100 550 700 900 550 260 200 750 200 100 100 20 950 140 550 850 220 170 340 1900 360 850 2200 2800 9000 4000 1800 700 1600 420 260 800 400 1200 600 50 160 13000 160 260 600 1400 180 380 320 700 1100

60354 60355 60356 60357 60358 60359 60360 60361 60362 60363 60364 60365 60366 60367 60368 60369 60370 60371 60372 60373 60374 60375 60376 60377 60378 60379 60380 60381 60382 60383 60384 60385 60386 60387 60388 60389 60390 60392 60395 60396 60398 60399 60400 60401 60403 60404 60405 60406 60408 60409 60410 60411 60413 60414 60415 60416 60417 60418 60419 60420 60421 60422 60423

600 300 11000 1800 360 2200 4200 600 3600 2200 270 240 1000 3200 460 400 300 440 240 320 320 160 1000 340 150 240 540 7000 1600 400 90 700 1200 400 200 900 240 50 200 420 1400 160 50 280 300 65000 1900 100 150 3000 6500 500 110 1300 200 750 1900 950 6500 4000 1300 2100 6500

60424 60425 60426 60427 60428 60429 60431 60433 60436 60437A 60437B 60438 60439 60440 60441 60442 60443 60444* 60445 60446 60447 60448 60449 60450 60451 60452 60453 60454 60455 60456 60457 60458 60459 60460 60461 60462 60463 60464 60465 60466 60467 60468 60470 60471 60472 60473 60474 60475 60476 60477 60478 60479 60480 60481 60482 60483 60484 60485 60486 60487 60488 60489 60490

140 260 850 4400 400 8000 50 480 1100 2000 1200 7000 650 700 1400 9500 2400 28000 34000 260 12000 1300 3200 1200 36000 13000 2000 260 1200 2200 3200 26000 1400 3000 260 110 1400 950 550 26000 360 320 3200 800 160 300 260 320 1500 650 360 1100 900 320 700 1000 6200 380 420 400 1500 5500 1300

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

PRICES REALISED (CHF)

David Feldman SA

Lot

Result

Lot

Result

Lot

60491 60492 60493 60494 60495 60496 60497 60498 60499 60502 60503 60504 60505 60506 60507 60508 60509 60510 60511 60513 60514 60515 60516 60517 60518 60519 60520 60521 60522 60523 60524 60525 60526 60527 60528 60529 60530 60531 60532 60533 60534 60535 60536 60537 60538 60539 60540 60541 60542 60544 60545 60546 60547 60548 60549 60550 60551 60552 60553 60554 60555 60556 60557

950 100 12000 3000 480 420 1200 3800 500 400 7000 500 3400 280 4600 750 3400 6500 360 360 4800 500 700 500 300 380 14000 6500 750 140 1700 480 260 100 1000 1500 500 9000 1600 6500 1300 5500 110 240 300 13000 4000 600 900 900 140 200 4000 2600 1200 1700 3800 1500 2200 5500 500 1600 1200

60558 60559 60560 60561 60562 60563 60564 60565 60566 60567 60568 60569 60570 60571 60572 60573 60574 60576 60577 60579 60582 60584 60585 60586 60588 60589 60590 60591 60594 60595 60596 60597 60598 60599 60600 60601 60602 60603 60604 60606 60607 60609 60610 60611 60613 60614 60615 60616 60617 60618 60619 60620 60621 60622 60623 60624 60625 60626 60627 60629 60630 60631 60632

440 800 2600 850 320 600 900 850 110 70 750 260 900 7000 550 200 24000 2000 1700 750 140 100 200 220 1300 5500 9000 1500 28000 2800 9500 240 950 6500 850 400 9000 8500 700 3800 380 1200 3000 240 2200 4200 7500 400 3400 120 1700 420 150 80 400 950 1100 340 360 750 480 1100 340

60633 60634 60635 60636 60637 60638 60639 60641 60642 60643 60644 60645 60646 60647 60648 60649 60650 60651 60652 60655 60656 60657 60658 60659 60660 60661 60662 60663 60664 60665 60666 60667 60668 60669 60670 60671 60673 60674 60675 60676 60677 60678 60679 60681 60682 60683 60684 60685 60687 60689 60690 60691 60692 60694 60695 60696 60697 60698 60699 60700 60701 60702 60703

Result 480 1000 1900 7000 5000 300 750 400 650 700 700 2400 1500 4200 320 8500 200 1200 80 900 3200 600 440 420 340 200 1300 1600 2000 850 50 1000 950 200 750 1000 1500 900 1200 1100 440 200 150 800 160 420 100 50 190 1800 150 150 480 850 190 50 800 300 130 400 80 650 3400

Geneva, May, 2003

Lot

Result

Lot

Result

Lot

Result

60704 60705 60706 60707 60708 60709 60710 60711 60712 60713 60714 60715 60716 60717 60718 60719 60720 60721 60722 60723 60724 60725 60726 60727 60728 60729 60732 60733 60734 60736 60737 60738 60739 60740 60743 60744 60746 60747 60748 60749 60750 60751 60752 60753 60754 60755 60756 60757 60758 60759 60760 60761 60762 60763 60764 60765 60766 60767* 60768 60769 60770 60771 60772

5000 380 140 300 850 1000 170 1500 900 460 700 440 3400 850 600 9500 20000 5000 7500 700 460 750 420 650 100 180 260 14000 340 30000 3000 1400 700 1300 4200 2600 5000 1900 1700 200 460 50 360 3000 800 320 650 420 1200 1500 11000 1200 1800 1600 850 3600 2200 4400 1500 1100 1100 700 8000

60773 60774 60775 60776 60777 60778 60779 60780 60781 60782* 60783 60784 60785 60786 60787 60788 60789 60790 60791 60792 60793 60794 60795 60798 60802 60805 60806 60807 60808 60809 60810 60811 60814 60815 60816 60817 60818 60819 60820 60821 60823 60824 60825 60826 60827 60828 60830 60831* 60832 60833 60834 60836 60837 60838 60839 60840 60841 60842 60843 60844 60845 60846 60848

2400 550 1000 5000 2800 2200 2600 1300 100 3200 3400 2200 4000 3600 2800 150 340 1400 280 1700 4000 1200 1900 5000 1700 12000 2400 2600 2400 20000 650 950 1200 3600 2200 2400 100 7000 110 460 170 190 320 1300 420 110 1300 2600 900 280 200 600 1600 1300 1300 200 6000 2400 550 26000 2600 420 8500

60849 60851 60852 60853 60854 60855 60856 60857 60858 60859 60859A 60860 60861 60862 60863 60864 60865 60866 60868 60869 60870 60871 60872 60873 60874 60875 60876 60877 60878 60879 60880 60881 60882 60883 60884 60885 60886 60887 60888 60889 60890 60891 60892 60893 60894 60896 60897 60898 60899 60900 60901 60902 60903 60904 60905 60906 60907 60908 60909 60910 60911 60912 60913

300 3000 1400 360 240 3000 14000 1100 600 650 28000 550 12000 8500 12000 400 3800 1000 7000 1400 1300 4000 1000 15000 1800 3600 13000 160 700 750 3200 2100 3200 3600 240 1100 6500 1400 2200 600 950 800 1100 750 40000 650 110 260 400 130 3800 1100 1600 1300 300 1400 280 500 2200 650 2200 150 5500

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

13

PRICES REALISED (CHF)

David Feldman SA

Geneva, May, 2003

Lot

Result

Lot

Result

Lot

Result

Lot

Result

Lot

60914 60915 60916 60917 60918 60919 60921 60922 60923 60924 60925 60926 60927 60928 60929 60930 60931 60932 60933 60934 60935 60936 60937 60938 60939 60940 60942 60943 60944 60945 60946 60947 60948 60949 60950 60951 60952 60953 60954 60955 60956 60957 60958 60959 60960 60961 60962 60963 60964 60965 60966 60968 60969 60970 60971 60972 60973 60974 60976 60977 60978 60979 60980

3600 1600 190 1500 7500 170 2600 320 1200 3000 6500 1600 1400 180 2200 3600 1800 220 100 1900 3800 7500 360 300 1100 1200 12000 16000 320 14000 9500 6500 700 200 200 420 4200 650 1800 500 1800 1100 1900 260 2400 1600 1300 300 700 550 1200 1500 400 750 1400 1600 150 400 1800 55 130 500 320

60984 60985 60986 60987 60988 60989 60990 60991 60992 60993 60994 60995 60997 60998 60999 61000 61001 61002 61003 61004 61005 61006 61007 61008 61009 61010 61013 61014 61017 61018 61019 61023 61024 61025 61029 61030 61031 61032 61033 61034 61035 61036 61037 61038 61040 61041 61042 61043 61044 61045 61046 61047 61049 61051 61052 61053 61054 61055 61056 61057 61058 61060 61062

500 1200 360 1400 200 3000 140 300 1300 180 380 3600 320 280 550 280 360 220 600 550 400 220 280 190 420 400 150 100 550 550 550 1500 9000 190 3000 1000 1000 150 1100 1600 600 4000 1700 500 220 800 90 4000 3400 160 36000 38000 700 2000 2200 220 3600 340 1300 170 1700 700 480

61063 61066 61067 61068 61069 61070 61071 61072 61073 61074 61075 61076 61077 61078 61079 61081 61082 61083 61084 61085 61087 61089 61090 61092 61094 61095 61096 61097 61098 61099 61100 61101 61102 61103 61104 61105 61106 61107 61108 61109 61110 61111 61112 61113 61114 61115 61116 61117 61118 61121 61122 61123 61124 61125 61126 61127 61128 61129 61130 61133 61134 61135 61136

650 500 1800 380 6000 5000 420 55 1500 5000 600 750 65000 360 300 3600 150 300 120 320 100 320 16000 1500 240 380 200 400 380 800 140 280 260 6000 190 60 900 550 300 380 100 100 650 3600 600 220 3000 420 180 1700 1600 1300 220 300 2400 4600 300 160 200 140 1100 360 360

61137 61138 61139 61140 61141 61142 61143 61144 61145 61146 61147 61148 61149 61152 61153 61157 61158 61161 61162 61163 61164 61165 61166 61167 61168 61169 61170 61171 61172 61173 61174 61175 61176 61177 61179 61180 61181 61182 61183 61184 61185 61186 61188 61191 61192 61193 61194 61196 61197 61198 61199 61200 61201 61202 61203 61204 61205 61206 61207 61208 61209 61210 61212

12000 2800 420 380 200 950 260 320 320 460 480 320 2000 650 40 8500 400 1500 18000 600 200 200 1300 750 600 2200 1400 340 240 800 700 100 480 460 2800 300 400 260 320 280 850 280 700 1700 2600 1900 600 2200 340 200 700 750 420 360 1200 26000 17000 550 850 1600 700 650 200

61215 240 61217 2000 61218 3800 61219 200 61220 5000 61221 1300 61222 1100 61223 440 61224 260 61225 200 61226 4200 61227 260 61228 300 61229 1500 61230 170 61232 260 61233 380 61234 1100 61235 220 61236 2200 61237 800 61238 420 61239 240 61240 600 61241 220 61242 110 61243 220 61244 4800 61245 1900 61246 8000 61247 800 61249 850 61250 850 61251 2600 61252 3200 61253 1300 61254 600 61256 1300 61257 4800 61258 1700 61260 100 61262 9500 61263 3600 61265 1400 61266 500 61267 900 61268 200 61269 7000 61270 220 61271 7000 61273 1800 61274 100 61275 3200 61276 550 61277 1800 61278 1100 61279A 125000 61280 1500 61281 1800 61282 750 61283 420 61284 700 61285 150

14

Result

Lot

Result

61286 61288 61289 61290 61291 61292 61293 61294 61295 61297 61298 61300 61303 61304 61305 61306 61307 61310 61312 61313 61314 61317 61318 61319 61320 61321 61322 61323 61324 61325 61326 61327 61328 61329 61330 61331 61332 61335 61336 61337 61338 61339 61340 61341 61342 61343 61344 61345 61346 61347 61348 61349 61350 61353 61354 61356 61357 61359 61360 61361 61362 61364 61366

2000 2600 300 340 200 260 22000 3000 16000 3200 240 220 1200 220 11000 240 100 200 550 340 220 120 130 140 2600 160 160 8500 320 500 400 500 5000 260 600 340 1000 1800 320 200 550 600 6000 3000 190 50 400 420 220 100 480 200 420 220 180 500 300 3000 220 3200 340 460 2400

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

PRICES REALISED (CHF)

David Feldman SA

Lot

Result

Lot

61367 61368 61369 61370 61371 61372 61373 61374 61377 61378 61380 61381 61382 61383 61384 61385 61386 61387 61388 61389 61390 61391 61393 61394 61395 61399 61400 61401 61402 61403 61404 61405 61406 61407 61408 61409 61410 61411 61412 61414 61415 61416 61417 61418 61419 61420 61421 61422 61423 61424 61425 61426 61427 61428 61429 61430 61431 61432 61433 61434 61435 61436 61437

1600 1000 6000 200 20 1300 220 110 2000 4800 6500 400 2200 400 480 400 6500 5500 2400 2000 300 240 260 340 380 300 1300 200 3400 700 3400 1500 600 300 900 340 900 480 3000 2800 800 320 160 300 320 800 2200 240 15000 80 190 3000 1000 2600 850 1600 1200 1500 800 800 1500 440 160

61438 61439 61440 61441 61442 61443 61444 61445 61446 61447 61448 61449 61450 61451 61453 61454 61455 61456 61457 61458 61459 61460 61461 61462 61463 61464 61465 61466 61467 61468 61469 61470 61471 61471A 61471B 61472 61473 61474 61476 61477 61478 61479 61480 61481 61482 61483 61484 61485 61486 61487 61488 61489 61490 61491 61492 61493 61494 61495 61496 61497 61498 61499 61500

Result 240 600 800 400 460 750 320 220 460 2400 550 550 600 1900 800 2000 750 400 6000 600 240 200 1500 800 220 1500 550 200 260 1300 300 900 750 3200 360 75 280 50 200 200 300 360 80 320 380 100 240 300 480 460 650 400 300 300 300 300 320 460 300 480 300 300 550

Lot 61501 61502 61503 61504 61505 61506 61507 61508 61509 61510 61511 61512 61513 61514 61515 61516 61517 61518 61521 61522 61523 61524 61525 61526 61529 61531 61532 61535 61537 61538 61539 61540 61541 61542 61543 61544 61546 61547 61548 61549 61550 61552 61553 61554 61555 61556 61558 61559 61562 61564 61565 61566 61567* 61568 61569 61570 61571 61572 61573 61574 61575 61576 61577

Result 340 800 320 400 5500 800 700 700 700 1600 100 600 220 800 400 650 380 80 150 50 360 600 100 300 40 200 140 90 50 1200 220 950 900 400 180 1400 8000 420 200 600 500 240 200 1600 240 6000 650 650 360 700 100 30 550 700 700 750 800 600 650 750 460 440 400

Lot 61578 61579 61580 61581 61582 61583 61584 61585 61586 61587 61588 61589 61590 61591 61592 61593 61594 61595 61596 61597 61598 61599 61600 61601 61602 61603 61604 61605 61606 61608 61609 61611 61612 61613 61615 61616 61617 61618 61619 61620 61621 61622 61624 61625 61626 61627 61628 61629 61630 61632 61633 61634 61635 61636 61637 61638 61639 61640 61641 61642 61643 61644 61646

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve

Result 400 420 200 160 800 700 700 800 800 850 380 550 700 440 750 460 550 460 240 750 600 440 460 3600 550 100 700 900 1400 130 170 800 550 100 300 200 420 1100 550 700 360 1700 800 200 120 400 440 280 300 240 460 800 1900 60 340 80 1100 1300 700 480 900 550 550

Geneva, May, 2003

Lot 61647 61648 61649 61650 61651 61652 61653 61654 61655 61658 61659 61660 61661 61662 61663 61664 61665 61666 61667 61668 61669 61670 61671 61673 61674 61675 61676 61677 61678 61679 61680 61683 61684 61686 61690 61692 61694 61698 61700 61703 61704 61706 61713 61718 61719 61720 61723 61724 61735 61736 61738 61740 61741 61742 61748 61749 61752 61761 61762 61763 61764 61765 61766

Result 650 650 900 600 2800 1200 700 550 1000 700 220 360 800 800 100 100 280 50 150 100 950 140 600 160 420 600 320 160 80 100 80 220 140 1400 650 380 80 360 80 380 260 650 220 100 100 220 700 140 380 80 50 140 340 200 750 280 50 1300 460 220 260 320 200

Lot 61767 61768 61769 61770 61771 61772 61773 61774 61775 61778 61779 61780 61781 61783 61785 61786 61787 61788 61791 61792 61794 61795 61796 61798 61799 61801 61802 61803 61804 61805 61807 61808 61809 61810 61811 61812 61813 61814 61816 61818 61819 61820 61821 61825 61826 61828 61829 61831 61833 61835 61836 61837 61838 61839 61840 61842 61844 61846 61847 61848 61849 61850 61851

Result 300 2800 4200 130 40 700 300 190 160 280 400 220 700 480 120 100 150 150 320 90 50 400 80 50 900 1100 1000 320 700 500 120 400 75 75 420 400 700 180 130 50 60 80 200 700 200 260 280 100 100 2200 3200 2200 1800 1200 1900 160 40 170 50 70 170 100 240

15

PRICES REALISED (CHF)

David Feldman SA

Lot 61852 61853 61854 61855 61856 61857 61858 61859 61860 61861 61862 61863 61864 61865 61866 61867 61868 61869 61870 61871 61872 61873 61874 61875 61876 61877 61879 61880 61881 61882 61884 61885 61886 61888 61890 61891 61892 61894 61895 61896 61897 61898 61899 61900 61907 61909 61910 61911 61912 61913 61914 61915 61916 61917 61918 61919 61920 61921 61922 61924 61926 61927 61928

16

Result 30 220 220 50 260 100 420 300 160 260 400 500 360 240 80 160 320 200 320 160 550 340 600 220 300 220 550 60 50 200 220 650 100 50 500 420 100 400 750 160 750 200 60 60 3 420 150 420 850 2400 170 950 1100 320 1100 260 110 1100 850 320 1600 60 160

Lot

Result

Lot

Result

61929 61931 61933 61936 61937 61938 61939 61940 61941 61942 61943 61944 61946 61947 61952 61955 61962 61966 61967 61968 61972 61974 61975 61976 61977 61978 61979 61983 61984 61985 61988 61995 61996 61997 61999 62001 62002 62004 62005 62006 62007 62010 62011 62012 62013 62014 62015 62017 62018 62020 62022 62024 62025 62026 62027 62029 62030 62031 62036 62037 62041 62042 70000

150 1100 1600 100 850 80 110 160 420 950 440 260 140 460 110 80 3800 100 140 180 130 50 1500 550 100 260 340 200 550 600 750 3600 3200 1500 1500 1100 900 200 240 300 300 500 280 220 400 240 750 850 360 300 140 100 200 130 70 190 260 80 100 170 50 100 50000

70001 70002 70003 70004 70006 70007 70008 70010

12000 7500 13000 3200 850 1500 3600 6500

ERRORS AND OMISSIONS EXCEPTED.

* = NOT EXACTLY AS DESCRIBED

Geneva, May, 2003

David Feldman

world leading stamp auctioneers

next auction series Feldman Galleries, Geneva

November l7-22, 2003 Please consign as soon as possible to ensure optimal presentation and results. ..............................................

David Feldman S.A. 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 Website: www.davidfeldman.com

Prices do not include buyers’ premium and charges Lots not included in this list were either withdrawn or did not bring a bid Prices may include lots bought back under reserve