The King Farouk I of Egypt was an avid stamp collector and created the Egyptian Royal Stamp Collection. He ruled Egypt from 1936 to 1952 when he was overthrown in the Egyptian Revolution and forced to abdicate. The King was known for his extravagant lifestyle and massive spending sprees.
The following is a great video about the sale.
Sotheby’s sold the furnishings the Harmer family sold the stamps in a three-day sale in 1954 Titled “The Palace Collections of Egypt of King Farouk”