Lot
398 
Italian Offices in Peking, 1917 Victor Emmanuel III 40¢ on 1L brown & green, attractively well centered for this stamp, in combination with 1971, 5c green on registered express cover from the Italian Legation to Rome, tied by "R.R. Poste Italiane, Pechino-Cina, 1-12-17" cds with second strike below, showing framed handstamp stating censorship exemption alongside, backstamped on arrival; with portions of address panel cut out, otherwise Very Fine; signed Giulio Bolaffi, with 1953 Fiecchi and 2016 Bottacchi certificates. Sassone No. 7+10. Scott No. 11+14 Estimate $100,000 - 150,000.
THE ONLY RECORDED EXAMPLE OF THE FIRST ISSUE 1917 40¢ ON 1L VICTOR EMMANUEL III ISSUE ON COVER - CONSIDERED TO BE THE MOST IMPORTANT RARITY OF THE ITALIAN POST OFFICES ABOARD ISSUES.
Realized: $175,000