GERMAN SOUTHWEST AFRICA
![Lot 4173](https://auktion.reinhardfischerauktionen.de/media/cache/lot_main/64/644012.jpg)
Lot 4173
Opening bid
100
€
5 Mark imperial yacht on paper watermarked, war time printing, 25: 17 perforation holes, right lower corner of the sheet, mint never hinged, Michel 220.-
For lots of the clearance sale we accept underbids up to 30% starting price - if there is no higher bid!