Auction #14 of China, Hong Kong, Japan and Other Asia Stamps and Postal History

Shanghai, 1891, Double Dragons, 5¢ carmine pink, watermark upright, imperf proof (Chan LS132 var. Scott 136 var.), horizontal pair on watermarked paper, without gum as prepared, fresh, Very Fine.
Estimate HK$ 3,500 - 4,000

Unlike many Shanghai proofs, this item is quite rare, with only one sheet of 50 printed; it was even missing from the M.D. Chow collection .