Need advice for selling stamps
Blade
Posts: 1,744 ✭
OK, it's not coins but I really do need advice. My step-Dad has some very nice stamps and has been out of collecting for over 25 years. At one point, he bought some really expensive stuff, including a stamp that took 3 months of weekly payments to get. For those in the know, he has a complete set of 9 mint state Trans-Mississippi stamps, which he says at the time he bought them in the 60's they were considered the most beautiful series of US stamps. They are in new condition - never used and never hinged.
I know what I would do if they were my high end coins. I would get proposals from 3 major stamp dealers and then consider auction. I need some advice - does anyone know of a good stamp message board? CU has one and it is deserted. They do have a price guide, and some of these stamps could be worth over $25,000 each.
Any help would be appreciated.
I know what I would do if they were my high end coins. I would get proposals from 3 major stamp dealers and then consider auction. I need some advice - does anyone know of a good stamp message board? CU has one and it is deserted. They do have a price guide, and some of these stamps could be worth over $25,000 each.
Any help would be appreciated.
Tom
NOTE: No trees were killed in the sending of this message. However, a large number of electrons were terribly inconvenienced.
Type collector since 1981
Current focus 1855 date type set
NOTE: No trees were killed in the sending of this message. However, a large number of electrons were terribly inconvenienced.
Type collector since 1981
Current focus 1855 date type set
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Comments
if they are worth that kind of money then I would certainly look at ebay and see what people do with high end stamps and how they sell them and what they do to make selling them easier.
I am not familiar with any slabbing service other than the one here.
Also, check the web for stamp related auctioneers, etc...
I would consider eBay.
Jim
Blade, though stamps trade at a severe discount to catalog, if the series you mention is in truly top-notch shape, a respected stamp auction would probably be the way to go. You might want to PM board member Ty (a few of his post are on the stamp forum.) He is quite knowledgeable and openly friendly, and helpful, in my experience.
Good luck!
BTW Goose, you can "sort of" get those first two stamps on the cheap - look up Scott #948 in stamps on ebay - a 1947 reissue of the classic 1847 first two issues, only in different colors. One mint copy (the two come together on one sheet) should run from 75¢ to 1.50.
I have sold both coins and stamps over the years from my collection and have this advice for you.
When it comes to selling quality stamps, I believe a good public auction is the best way to go.
If you are not knowledgable in this field, you stand a very poor chance of getting a fair offer from a stamp dealer (even if you approach three or four or more of them). While dealer retail mark-ups on certified coins may be very reasonable, most stamp dealers will not offer even half of what your collection is worth and often times much less.
I don't think ebay if the way to go either, since if you do have really choice older mint never hinged stamps they can go for very strong prices at auction on a "site seen" basis.
I have used, within the past few years, the stamp auction firm of Ivy & Mader. They are in Caldwell, NJ and have a good reputation for selling quality US as well as foreign material.
Their telephone number is 1-800-STAMPS-1 or 1-973-882-0887 if you are calling from New Jersey.
Ask to speak with someone from their Ivy & Mader division and not their Greg Manning Auctions. The Ivy & Mader Division is best for small groups of better quality stamps.
You can discuss your stamps with them and they can give you advice.
As a note: I have no financial interests in this company and my recomendation is based solely on my very good experiences with them in the past.
Good luck!
These are single mint stamps that were never hinged. A block would be worth a fortune I would guess.
ricardouno - That is some much appreciated advice. We did not know that dealers discount so heavily on purchases. A good idea is to get them appraised, and I also think auction is probably best. What are their buy/sell commissions (spread)?
Still looking for a good stamp forum if there is one.
Regarding grading, CU has a service, but there is a lot of discussion how the grading is not uniform (no recognized scale, like Sheldon in coins) so it looks like CU made one up. Looking at eBay, I got the sense that certified stamp grading isn't as widely adopted as it is for coins.
NOTE: No trees were killed in the sending of this message. However, a large number of electrons were terribly inconvenienced.
Type collector since 1981
Current focus 1855 date type set
Then, upon a sound expertising opinion, try the auction route. Stamps definitely do have a grading scale, but it's more verbal (as it used to be in coins.) But it's self-evident - the better the gum, the better the shape of the perfs, the larger and more evenly distributed the margins, the lack of any hairline creases or other faults - the better, and more highly valued, the stamp.
The commissions that I have been charged by the auction company, above, for quality stamps are relatively small.
The seller commision that I have had to pay was in the order of 5 to 10%.
The stamp auction firm usually assesses a 15% premium to the buyers.
I really don't think you have to (at this time) get stamps officially graded prior to sale (although certificates of authenticy may be required of very rare or highly counterfited issues but the auction firm can and will assist you in that respect).
A reputable auction firm will list your stamps and picture them with the appropriate grading designation and bidders with inspect them carefully.
You can get an appraisal if you would like to do so, but this may be moot. At a good public auction they will realize a price close to what they are worth. Additionally, an accurate appraisal from a stamp dealer may be somewhat difficult to obtain for a variety of reasons. Actually, the auction firm has ventured and provided to me a likely or possible "ballpark" expected price range when I presented the material to them so you can decide how to proceed.
I have sold thousands of dollars worth of stamps by simply discussing the stamps with the philatelic expert at the firm and following their advice. They want to make you and their firm as much money as possible.
If you really have super material and want to take it step by step, just show them a portion of the material and arrange one auction and gauge the results. That's what I did. If you really have sensational stuff you can rest assured they are going to at least try do their best to get at the rest of your consignment.
Thanks so much for the ideas. They sound like excellent advice.
NOTE: No trees were killed in the sending of this message. However, a large number of electrons were terribly inconvenienced.
Type collector since 1981
Current focus 1855 date type set
<< <i>Those first two stamps ARE very cool, goose! They can be found on ebay. As with important coins, do yourself a favor and make sure they are expertised as to soundness, etc. The best two are PSE and PFC, I believe.
Blade, though stamps trade at a severe discount to catalog, if the series you mention is in truly top-notch shape, a respected stamp auction would probably be the way to go. You might want to PM board member Ty (a few of his post are on the stamp forum.) He is quite knowledgeable and openly friendly, and helpful, in my experience.
Good luck!
BTW Goose, you can "sort of" get those first two stamps on the cheap - look up Scott #948 in stamps on ebay - a 1947 reissue of the classic 1847 first two issues, only in different colors. One mint copy (the two come together on one sheet) should run from 75¢ to 1.50. >>
I already have those! I need the real McCoy's!
Matthew Bennet (truly excellent)
Siegel (also outstanding)
Shreves (Their cataloger is no nonsense and accurate)
Schuyler Rumsey
If anything, you can go on the internet, look at their archives, and actually see what prices your stamps are going for.
Good luck!
Thanks for those great sites. I am sure that between all of those firms we will find one that can represent us fairly.
NOTE: No trees were killed in the sending of this message. However, a large number of electrons were terribly inconvenienced.
Type collector since 1981
Current focus 1855 date type set