We start all our auction lots at 99p with no reserve.
The Documents: Two complete, handwritten tenancy contracts executed in Baghdad, dating to the pivotal year of 1932
The Provenance: Both properties were owned by Mahmood Al-Shabandar, a famously wealthy Baghdadi landowner and patriarch of one of Iraq's most prominent families (most notable today for founding Baghdad's historic Shabandar Café)
The Surcharges: The stamps affixed are King Faisal I definitives that have been provisionally surcharged to reflect the 1932 currency change from Indian Rupees/Annas to Iraqi Dinars/Fils
The Fiscal Calculation (The Key Selling Point): The exact fiscal stamp duty is precisely calculated at 0.1% of the contract value
Left Contract: A rental value of 28 Dinars, correctly franked with a 28 Fils surcharged stamp
Right Contract: A rental value of 45 Dinars, perfectly franked with 45 Fils in surcharged stamps (a green and a red/orange issue) tied by a crisp manuscript cancellation dated 9 May 1932
Historical Significance
These contracts capture a critical turning point in Iraqi history. In October 1932, the Kingdom of Iraq achieved full independence, ending the British Mandate and joining the League of Nations. A vital part of this newfound sovereignty was the establishment of an independent national currency—the Iraqi Dinar—replacing the British Indian Rupee that had been in use since the World War I Mesopotamian campaign. Before new definitive stamps could be printed, existing King Faisal I stocks were rapidly surcharged in the new Fils currency to keep the legal and commercial infrastructure functioning.