While most of the world's industries have felt the effects of the global financial crisis, philately, or stamp collecting, has continued to flourish among Asians, an article in The Wall Street Journal reveals.

"In the US and UK, stamps, like other collectibles, have fallen in value during the past two years because of the financial crisis. This has not been the case in China, or other Asian markets, based upon bidding at our auctions," Louis Mangin, director of Hong Kong stamp broker Zurich Asia, was quoted as having said.

Mr Mangin told the publication that it has just sold a rare 1897 Chinese stamp for HK$2,587,500 (approximately $334,000) to an anonymous buyer in China. The sale reportedly set a new world auction record price for a single Chinese stamp.

Passion investing, including collecting stamps, has gained in popularity throughout history, with some rarer issues going for hundreds and thousands of dollars each. The news service estimates that out of the 50 million active philatelists around the world, around 15 million are in China.

Other Asian countries, like Singapore and Hong Kong, have also been taking part in the stamp phenomenon. Tim Hirsch, managing director of global auctions for UK-based auctioneer Spink, told the WSJ that Malaysian and Singaporean stamp collectors are steadily emerging over the years.

"In July, an auction in Singapore titled "Stamps of South East Asia" generated sales of about $1 million, a fantastic sum," he said. The rare stamps reportedly sold during the auction included a sheet of Four Cents stamps from the 1899 Straits Settlements, which fetched around $41,600.

The interest over philately opened opportunities for wealth managers, who have since been offering pre-packaged stamp portfolios for new collectors who want instant gratification. UK broker Stanley Gibbons, for instance, sets the minimum investment on stamp portfolios at around $16,000, with the average hitting $50,000.

According to the newswire, Stanley Gibbons expects to see more Asian investors enter the fray, especially after having forged deals with the likes of Pemberton Investments in Singapore and Wealth Management Group in Hong Kong to market stamp-related investment products to the region.

Stanley Gibbons portfolio manager Geoff Anandappa was reported to have said, "In Asia, it's seen as a hobby that a lot of professional people do, not as something for children, which is the way it has been in the West. When you talk to people (here), they know that stamps can be very valuable."