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It is signed to the reverse by the leading aviators of the day who attended the event including Norbert Chereau, Spenser Grey, Louis Bleriot, Harry de la Combe, James Valentine, Perrin, Rolph and Adolphe Pegoud himself – who signs his name upside down.

It is sold together with a contemporary photograph postcard of Pegound with his Bleriot aeroplane that is postmarked Munich, May 13, 1914. Estimate £300-500.

dominicwinter.co.uk