A Waterlow & Sons Ltd book with specimen banknotes from different parts of the world printed until 1930 crossed its estimated value of £500 to £700 by a huge margin when it was sold by Tring Market Auctions for £248,500 on 31st August.
Waterlow & Sons was a popular English banknote printer that was established in 1810. De La Rue bought the company later in 1961. An old woman had handed over the book to Ting’s director. The book was given to her late husband when Waterlow & Sons was closing down.
The estimated price was purposely set low to attract buyers. The auctioneers were expecting to break the estimated price by a big margin, but the end result was surprising even for them. Six London-based dealers spread the news and the book was finally sold for an extremely impressive amount.
Experts believe that only three or four complete books of Waterlow commercial specimens have been auctioned since many years. The book contained exceptional and rare specimens like a Zanzibar colour trial, Hong Kong and Chinese notes and a Hyderabad piece. All the specimens are in great condition as the book wasn’t opened for years.
Image Courtesy: Tring Market Auctions