5 M. Imperial yacht, unwatermarked, on piece, centric and with full cancellation single circle postmark \"JALUIT 11 / 4 03\", faultless preservation, superb in every respect (choice copy), expertized Bothe and photo expertize Steuer BPP (2021) : the key value the Ship edition 1901 unwatermarked shows a full and centered strike of a postmark with all features of an authentic and date-appropriate cancellation. The qualitatively perfectly copy. \", Michel 600.-