5 Mark Imperial Yacht on paper with watermark 1 (Lozenges), peacetime printing, 26 : 17 perforation holes, upper left sheet corner (hinge remnant and pre-folded), stamp mint never hinged, perfect condition, unsigned, photo opinion Carsten Brekenfeld BPP "genuine and faultless", Mi. 400.- - hopelessly undervalued, we have sold this several times at 400 - 650 Euro hammer prices!