|
Post by gmstamps on May 12, 2024 6:08:06 GMT
Hello my fellow Stampers (hope, I didn't offend anybody). I'm newbie in the stamp collecting. Actually, not collected myself at all (I don't count childhood hobby). Recently got small (couple of thousand) inheritance from my wife's Grandpa's collection. We spoke about stamps, envelopes, currency, collectibles a lot, but I never had a conversation with him about particulars. Somehow, he decided to leave me some of the stamps from his 60+ year collection. Nothing super crazy, but still, some very rare. Unfortunately for me, most of the "good ones" have not been properly identified - only hints. After spending couple of months, I did realize that some of the stamps were pretty valuable in terms of history, rarity and overall condition. I knew from the conversations with Grandpa, that market was down, because most of collectors were approximately his age and younger generation was not interested in stamps any more. But same time he told me, after his generation is gone, relatives will try to get easy buck and prices will go down even more. I kept that in mind when I contacted one of the auction house's and offered to sell one very nice set (I had 2 complete sets and decided to let one go to help with my stepdaughter's college fund). I did full research (thankfully, it was little bit easy) and I knew I had something valuable on hand. The auction house offered me 20% of it's current market value (not the catalogue value). So here come's the dilemma - the amount they offered can not be called small, same time, it's just a small fraction of the market value. It will not make me rich, it will not change my financial situation and of course, it will not help with stepdaughter's college fund. After my refusal, auction reps contacted me with a surprise - we had similar cases and people took our offers with a smile on their faces. My question is - why are you settling for a quick buck, when you might have a jewel in your hand? I understand quick cash deal will help in a short term, but I can only imagine all the time and effort grandpa spent on these stamps, all the info and stats he had in his head... I think that problem with today's market are the children and grandchildren of the collectors - they just don't want to spend a second of their valuable time to understand, study and learn. Who has time to identify perf 10 or 10.5. Who wants to test gum or no gum? Unless you're in dear need, do not sell them. Keep the memories and values intact. Sorry for a long post, but I had it in me for couple of weeks now. P.S. Just to give an idea what I've inherited, adding some pics.
|
|
hdm1950
Member
Posts: 1,887
What I collect: I collect world wide up to 1965 with several specialty albums added due to volume of material I have acquired. At this point I am focused on Canada and British America. I am always on the lookout for stamps and covers with postmarks from communities in Queens County, Nova Scotia. I do list various goods including stamps occasionally on eBay as hdm50
|
Post by hdm1950 on May 12, 2024 10:54:43 GMT
I am not offended by your post and so I hope you will not be by my reply. I think you are too hung up about the value of your stamps. Catalogues are a guide only. Most collectors decide what percent of catalogue they are willing to spend and buy accordingly. What items are actually selling for is the true value. In regards your duplicate set that you were offered 20% of market, the auction house is gambling that they can get more. It is no sure thing.
I would suggest you look around for other auction houses. Anytime I put stamps in auction they are put up for sale and the market decides what they are worth. The auction house takes a percent and I get the balance. Another option is to sell them yourself on line.
No matter what, good luck with what you are wanting to sell and enjoy what you are keeping.
|
|
philatelia
Member
Captain Jack - my best kiloware find ever!
Posts: 3,655
What I collect: Ireland, Japan, Scandy, USA, Venezuela, Vatican, Bermuda, Austria
|
Post by philatelia on May 12, 2024 12:07:25 GMT
I agree with Hugh - hdm1950. Auction houses vary greatly in their policies. It sounds like you were offered a flat price to buy the stamps outright. You can also consign stamps where you and the auction house agree to split the proceeds. I’ve heard good things about Kelleher - maybe try them? In any case, paying expert auctioneers isn’t cheap. You do sound like you have some sentimental feelings about your inheritance and that’s heartwarming for a philatelist to hear.
|
|
|
Post by mdroth on May 12, 2024 15:11:06 GMT
Hi Gmstamps,
Welcome! Glad to have you here.
I'll give a slightly different answer:
You're doing great & have fun!
Understanding the prices & values is absolutely part of the fun. It is both art & science. Whether you decide to sell or not! I've never sold a stamp in my life - but absolutely keep on top of the market & catalog values - as time permits!
Not sure if you have a catalog or not, but I'll suggest you get one - and read it! (The beginning part, where it explains what they're doing!) In general, the catalog values are for Very Fine examples of the stamp - as per their grading system for condition - for which they give very clear examples. Certain items do sell for full catalog value - sometimes even more - but those are for extraordinarily great (condition!) stamps.
For example:
Your 5c Jefferson. Great stamp, but with obvious perf issues all the way around. Off-center as well - see where the perfs cut into the design at the top. If you went to sell this stamp on ebay (the market leader for less than gem-quality stamps) you'd be lucky to get 20% of catalog value.
The 15c Lincoln is beautiful! But also off-center. Notice the perfs cut into the design on the right. Better than the 5c Jefferson, but again, you wouldn't get full CV for this.
By the way - always post pix of the back when relevant as well! For both of these stamps - there are numerous varieties. If they have a grill on the back, for example, they are worth much more than the basic stamp!
The Harding sheets are awesome! Especially the full uncut pane of 400. Definitely a scarce item - don't sell it!! (Keep it well-protected!!)
Knowledge is king. Takes years of experience, studying, & practice. You'll find our little gang here to be a valuable resource. Just post pictures & you'll get rapid / free / (most of the time!) unbiased opinions!
Stamp collecting is a hobby. (A passion!) A fun, never-ending, sometimes incredibly frustrating way to waste more time than you can imagine. Becoming a stamp dealer is an entirely different animal. Trying to get rich - or even pay for college! - is generally going to be a disappointing venture. (But it can certainly pay for pizza & beer at college!?!)
Glad to see you here & love the enthusiasm. Keep at it!!
|
|
|
Post by gmstamps on May 12, 2024 16:20:41 GMT
Thank you all for replies. Of course I'm not offended by any of the answers. I'm here to learn from people who have years of experience. I totally understand by now that catalogue value and market value are totally different things but getting 20% of market value, it's kind of offensive. As per sentimental values - yes, they do have some especially when I think about time and effort Grandpa spent on them. So I've decided - if I sell some, I will only sell for a fair price, for what's it's worth, not to just clear the space. Cheers and happy to be here.
|
|
stainlessb
Member
qaStaHvIS yIn 'ej chep
Posts: 4,906
What I collect: currently focused on most of western Europe, much of which is spent on France, Belgium, Germany and Great Britain Queen Victoria
|
Post by stainlessb on May 12, 2024 16:20:49 GMT
Hello gmstamps and welcome to the forum. The Catalogue values are inflated. Most all the early catalogue producers were in the business of selling stamps, so it was to their advantage to have pricing that was favorable to them. As I do believe there has been few (if any) catalogues that have come out with a new edition with lower CV's, flat perhaps, but generally the prices (like everything in our world) just keep increasing. As a child starting out in stamp collecting, I took the CV's as the gospel and had grand plans to become a stamp baron.... There are collectors who turn a profit from the sale of their collections, but I wonder how many factor in the hours spent assembling the collection in addition to what was spent. For me personally, the enjoyment from the many hours 'working on my stamps" is something money cannot buy. It is probably safe to say that most folks here typically pay 15-30% of CV, with 20% being common (in my buying and bidding experience). It is also true that some items sell for truly head-scratching sums I have wondered periodically what stamps would sell for if listing CV's had never occured? Keep on stamping!
|
|
|
Post by daniel on May 12, 2024 18:24:42 GMT
gmstamps , you have some exceptional items. You showed these stamps in your introductory post: These must be proofs for the Sanitary Fair stamps of 1864 which are listed separately in Scott. "The United States Sanitary Commission was authorized by the Secretary of War on June 9 1861, and approved by President Lincoln...It was a committee of enquiry, advice and and dealing with the health and general comfort of Union Troops." Although not valid for postage, they were sold and used at fair post offices. The 1864 20 cent stamp was issued in green, so this must be a colour proof imperforate block. You should remove them from the cellophane. If you were to sell your collection, you might be best advised to concentrate on the more rare stamps that you have including those that we have yet to see Alternatively, should you wish to keep them, that is, of course, equally fine. Daniel
|
|
|
Post by gmstamps on May 12, 2024 18:33:48 GMT
gmstamps , you have some exceptional items. You showed these stamps in your introductory post:... Thank you for your reply. I do have these ones in different color variations. These ones were mixed with other revenue stamps, so I've decided first to properly identify all of them, separate and store them in a proper manner and then I'll decide what to do.
|
|
philatelia
Member
Captain Jack - my best kiloware find ever!
Posts: 3,655
What I collect: Ireland, Japan, Scandy, USA, Venezuela, Vatican, Bermuda, Austria
|
Post by philatelia on May 12, 2024 21:57:50 GMT
Such beautiful items! Have you had a moment to look into insurance? Most homeowners won’t cover but a fraction of the value of goodies like yours.
|
|
|
Post by gmstamps on May 13, 2024 0:08:03 GMT
Such beautiful items! Have you had a moment to look into insurance? Most homeowners won’t cover but a fraction of the value of goodies like yours. To tell you the truth, I don't know the true value of items yet. Learning day by day - one envelope or box at a time. Sometimes, even one stamp at a time.
|
|
|
Post by Stamper49 on May 17, 2024 15:35:41 GMT
I wish I had your dilemma gmstamps , and your Grandfather's amazing stamp collection! Jealousy is a bear sometimes. It's hard after a loved one is gone, there are so many questions that were unasked that Grandpa could answer, and also tell you the stories associated with each piece.
|
|