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Discussion - Member to Member Sales - Research Center
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Discussion - Member to Member Sales - Research Center
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For People Who Love To Talk About Stamps



What we collect!
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General Philatelic/Gen. Discussion : How to sell a collection?

 

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cshahar

20 Nov 2017
12:11:55pm
Hi Everyone:

Unfortunately, my stamp collecting days have been cut short by a couple of disasters at my home and numerous expenses that have incurred. My collection does not consist of exceptionally valuable stamps. The most noteworthy are nice US # 1 & 2, several US under #100 although none worth more than $350, and 100-200 country specific stamps of nice quality from Newfoundland, New Zealand, India and 3-4 other countries.

How can I sell them? Do I send them on consignment to a specific auction house? If so, can you please make recommendations? Or will the auction house make me an offer for the whole lot? If the auction house makes me an offer for the whole lot I would assume I would make much less than if I was patient for consignment auctions.

I don't want to go the eBay route selling items piecemeal. I am just too preoccupied right now with other life issues of more immediate import...

Any help would be appreciated!

Thanks!

-Charles

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philb
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20 Nov 2017
04:20:11pm

Auctions
re: How to sell a collection?

Charles,people would need more information in order to suggest where to dispose of your stamps..for starters, what part of the country do you live in ? Which dealers did you purchase from ? Do you belong to a stamp club ? Do you belong to the American Philatelic Society ?

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cshahar

21 Nov 2017
02:56:33pm
re: How to sell a collection?

Hi:

Sorry for the late reply. I actually live in Canada, but don't mind dealing with an American auction house. Most of my purchases were from Sandafayre, Apfelbaum (only at the beginning), & HipStamp. I was hoping to find a popular auction house that is trustworthy and interested in the type of collection I have! Anglophile, thank you for your suggestions!

-Charles

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Poodle_Mum
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22 Nov 2017
02:51:21am
re: How to sell a collection?

Eastern Auctions is one of the best in Canada.

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51Studebaker
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22 Nov 2017
04:03:19am
re: How to sell a collection?

Note that putting material on consignment with a stamp auction firm is not without risks. In the last year there was a large auction firm which went out-of-business. Many hobbyists who had material on consignment lost everything; for some this ran into five figures.

It can be quite difficult to understand a firm's financial standing. There may be some type of insurance available but you will have to seek it out.
Don

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cshahar

23 Nov 2017
04:53:39pm
re: How to sell a collection?

Wow. I never thought of that Don!

Kelly, I wasn't sure about going with a Canadian auction firm. Does Eastern get a lot of traffic, and are the prices in American?

Thanks,

-Charles

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doomboy
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23 Nov 2017
09:29:10pm
re: How to sell a collection?

Both Vance and Eastern see some pretty good action. They both sell in CDN.

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24 Nov 2017
01:56:16am
re: How to sell a collection?

Eastern is extremely popular in Canada.

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cshahar

25 Nov 2017
09:13:09pm
re: How to sell a collection?

I am wondering whether selling in Canadian would mean less lucrative returns given the exchange. On the other hand, it doesn't have to go through the border!

-Charles

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virgilp

23 Sep 2018
09:27:45pm
re: How to sell a collection?

Even if this topic is old, what would be the situation in US? Mystic advertises in any Scott catalog that they are the biggest buyer of stamp collections. Are they coming to my place? What kind of prices they have?
I guess that we should re-open this subject.

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michael78651

24 Sep 2018
12:04:51am
re: How to sell a collection?

Mystic will talk to you first to find out exactly what you have. If you have a valuable collection, they will probably come to you to look at it. Otherwise, you will have to send what you want to sell to their buying office in Denver, Colorado. They will send you instructions via email. When they receive the stamps, they will look them over, and send you a check, which is their buy offer. If you like their offer, cash the check. If not, send the check back per the instructions in the letter that comes with the check.

In fact, I just sent them over $12,000 catalog value in stamps for an offer to buy. A few days ago I received their check. Are you ready for this? It was for 1.8% (rounded up) of catalog value. It cost me $103.00 to send the two parcels to them. I sent the check back to them. They will return my stamps to me at their cost. Yes, I am out $103.00 from this transaction.

I did call them up and ask them why the joke offer? I was told that they can't pay much for stamps, because no one is buying stamps anymore. Stamps are a tough sell. I told the representative that they buy at 1.8% and sell at 150%, and that stamp sales are actually doing fine on the internet. I told the representative that I didn't believe her, and that I wasn't amused by this. After all, if they can't sell stamps, because no one is buying stamps anymore, why do they claim to buy millions of dollars of stamps each year?

I supposed if you just want to get rid of your stamps and get a few dollars for them, sell to Mystic. If you'd really like a fair offer, try a different dealer, or sell online, or through the APS Sales Division. You will realize a much higher rate of return.

Does this answer your question about Mystic?

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virgilp

24 Sep 2018
12:27:04am
re: How to sell a collection?

YES!
YES!
YES!

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angore
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Al
Collector, Moderator

24 Sep 2018
07:38:29am
re: How to sell a collection?

Michael,

Was this Mystic that paid for the low amount?

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dani20
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24 Sep 2018
08:55:08am
re: How to sell a collection?

Charles, sorry to hear of tough times but you sound like you're a tough old bird-be strong, stay strong. On trying to maximize your return- if you've got your collection into a shape that could be identified by catalog numbers, have you considered posting those #'s under proper country headings right here on SOR? We have an international membership that might be interested, and many folk with specific interests.

I personally am a U.S. collector, and both our auctioneer and president are most helpful in responding to member inquiries. Drop them a personal message (see home page) to do that. (If you have U.S. inquiries, I'd be happy to respond as well.)

Good luck on your quest, and know that you have support here at SOR.
Best,
Dan C.

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michael78651

24 Sep 2018
10:44:52am
re: How to sell a collection?

AL, yes.

It was an offer, which I rejected.

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michael78651

24 Sep 2018
11:20:04am
re: How to sell a collection?

Here's what bothers me about this ridiculous low-ball offer:

- Mystic advertising states that they pay the best for people's stamps, because they have a large demand for stamps from their customers

- When asked why such a low-ball offer, I was told that no one buys stamps anymore, so they can't offer much for stamps due to the lack of demand.

- Either this is false advertising, including their mail solicitations to buy, or I was lied to by their buying department.

I have seen such offers before (even from buyers in resale stores). They figure that a seller paid, like me, a large sum of money to ship the material. Make a low-ball offer that will cover the seller's shipping costs, and throw in a little bit more for the seller's troubles of putting it all together. The thought is that most sellers won't want to be out the money that it cost to ship, so while the seller will be out the stamps and not happy about the offer, the offer will be accepted anyway (check in hand is hard to turn down).

I think that both practices by Mystic as I encountered are fraudulent. I have a mind to report this to the APS.

The other possibility is that the buyers low-ball the offer, keep (or buy at employee discount) a good chunk of what was bought, and send a few nuggets to the company. Then they sell the material on their own and reap in some good profits for themselves. I have encountered this before at a local store. I rejected the store's offer, and reported the buyer to the store's management. The manager investigated, and the buyer was fired.

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Webpaper

In loving memory of Carol, my wife for 52 years.

24 Sep 2018
01:26:04pm

Auctions - Approvals
re: How to sell a collection?

I think you are right about the buyer. They didn't used to use a buyer, they dealt directly out of Camden (NY).

Back 25 or 30 years ago I picked up some mid century modern furniture cheap at a garage sale. In talking to the people, they said they had a large collection of Civil War Patriotics (used)/ I gave them the names of two local dealers whom I knew personally. Both were reputable and from past dealings I knew they paid fair prices to non-collectors.

Mystic beat them both out on a high four figure collection.

Times change....




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rjan
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24 Sep 2018
02:08:34pm
re: How to sell a collection?

This is a universal issue for all collectors. There always comes a time when the collection must be disposed of. It is my opinion that all of us need to put thought into this, for ourselves and our families.

Any significant collection presents a challenge to dispersal. We are discussing auctions or dealers above. There is a significant need for the APS and other groups to develop information and strategies. I think the discussion should be constant on this site.


I belong to a local trading group, and have access to some local dealers at stamp shows. I am now going to make a effort to get recommendations from the dealers I know. One suggestion I have made (untaken I must admit) to a fellow collector looking to wind down at the club was to reserve selected favorite areas and offer the remainder for sale at the club.

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burrowsj

As of April 1 2022 I will only sell and trade with members in Canada and USA.

24 Sep 2018
04:54:26pm
re: How to sell a collection?

Hello Charles: You might also try Sparks Auctions in Ottawa.....google the website and address and or phone number.They have a large internet and live auction three times a year.I have bought and sold there many times over the years with good results and have found them always to be most honest and trustworthy.Contact stephane@sparks-auctions.com

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michael78651

24 Sep 2018
05:41:09pm
re: How to sell a collection?

They are supposed to be sending the stamps back to me at their cost. If it comes "COD", I won't be happy.

Funny that in my telephone interview I was asked what I had, I told them. I was asked how much I was expecting to get for the stamps, I gave them a range, knowing that they would have to look the stamps over. They didn't even come close.

I intend to keep track of these stamps as I sell them off on my own. They were all identified for ease of reviewing, so the Mystic buyer can't say that it looked like a bunch of "stuff" that was an unidentifiable accumulation of mismashed floor sweepings.

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smaier
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Sally

25 Sep 2018
10:16:07am
re: How to sell a collection?

Michael - did you use actual stamps for the $103 postage? Let us know how your items are returned....

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michael78651

25 Sep 2018
12:51:37pm
re: How to sell a collection?

No, I presented the two parcels to a clerk for meter postage.

Mystic says that they send returns via FedEx ground.

I actually got a return call (after two weeks) from the buyer's coordinator. I asked if they got the notification that I rejected the offer, and was told no. I told them to prepare the parcels for return. I mentioned what I was told regarding why Mystic can't pay much (no one is buying stamps anymore). They weren't happy to hear me say that, and I started to get lines of excuses why they only offered to pay so little. I didn't want to talk anymore to them, so I just told them they were a joke, and to get ready to send it all back to me. End of call.

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kgvistamps
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25 Sep 2018
02:59:23pm
re: How to sell a collection?

I appreciate your frustration with what you feel is a low ball offer for your collection.

I would be curious about the make up of the collection. $12,000 in exclusively high value items from desirable countries in excellent condition should not generate a below 2% bid. But if it is made up of all low value stamps from wallpaper producing countries in poor condition - then it might be a generous offer.

As a part-time dealer, I have come to realize how much work goes into breaking down and selling a collection. You also have your money tied up for possibly a long time before you sell the stamps. In my case, I put all of my sales revenue after taxes back into my inventory, so I don't have to pay 2% of catalog for items.

My suggestion if you want a higher value for your stamps is to take on some of the work yourself by breaking down the collection, scanning it for sale and listing it on ebay or one of the other auction sites. You won't get a high value of catalog, but you will certainly do better than the offer you received. Another option is the APS. They have a mail option or an on-line option.

All of these alternatives miss one of the key items of selling directly to a dealer. You get immediate payment and don't have to do any additional work.

Ultimately you have to decide on the value of your time and whether you have highly desirable or run of the mill stamps in your collection.

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michael78651

25 Sep 2018
04:17:05pm
re: How to sell a collection?

I do all that you suggest, which is very good advice. I gathered up a large number of world wide items that were all identified (cataloged), including many items with cats from $10.00 up to $750.00. Many MNH complete sets, souvenir sheets and singles from Canada, Western Europe, Russia, Asia, Oceania and other places. The need for a quick influx of cash was the reason for my doing this, so I did "cherry picking" from the items that I had up for sale, and waiting to be posted to try to optimize a buy offer.

I am realistic in my expectations that no dealer will or can pay me anywhere near full, or even half catalog. An offer of 1.8% is grossly inadequate for the material that I sent to them. Yes, there are some other low-valued material in what I sent, but most of it is not that.

It's all right. I'll put them back in with my selling stock and put them up for sale in the different venues where I sell stamps (not Ebay), and a new venue that I just joined today. I'll just have to ramp up my selling as it has been low-keyed for about a year due to family matters that required alot of my attention and time.

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Al
Collector, Moderator

25 Sep 2018
04:20:02pm
re: How to sell a collection?

I would let David Sundman know.

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michael78651

25 Sep 2018
04:26:49pm
re: How to sell a collection?

I have considered calling him (Don).

Right now, I want my stamps back first.

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kgvistamps
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Collecting King George VI from all countries, and King Edward VII and King George V from the West Indies.

25 Sep 2018
05:25:57pm
re: How to sell a collection?

If it is good stuff, I would sell it myself also. Take out the middleman and keep the money.

It is pretty obvious from the price that they didn't really want it.

I have a neighbor who is in the concrete business. He told me that his price is based on how hungry he is for work. He low balls people when he gets booked up. The cost is the same, it is just a matter of desire for him.

Good luck

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michael78651

25 Sep 2018
06:41:22pm
re: How to sell a collection?

"It is pretty obvious from the price that they didn't really want it."



That of course is another possibility. In the end, it'll mean more money for me, but it won't be a lump sum. That's Okay too.
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virgilp

18 Jun 2021
11:39:11am
re: How to sell a collection?

Got interesting opinions about Mystic. What about Dutch Country Auctions? They are in USA. What do you know about them? Did somebody sell something through their auction? Is the return from their auctions reasonable?

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HolocaustStamps

Collecting one stamp for each of the 1.5 Million children murdered in The Holocaust.

18 Jun 2021
01:28:33pm
re: How to sell a collection?

Did anyone ever hear from cshahar what the resolution was to his original issue? Did he sell them? To whom? For how much? Was it fair?

That would be interesting info when this issue arises again.

Dave

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Harvey
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18 Jun 2021
01:50:31pm
re: How to sell a collection?

I think there are several of us on SOR who would be willing to pay fair amounts for higher valued stamps we are missing. If any of you have collections that you wish to sell maybe post an add on the "stamps for sale" area asking collectors to get in touch directly rather than use the auction area. There are very few sellers who use the SOR auction for higher priced items. I'm not going to say which seller I used but I picked up some wonderful higher priced items this way for a price which seemed to be fair to both parties. Just a suggestion, but it might work well. All it would really require is sending a want list to the seller and a bit of haggling. I, and probably many of you, would be willing to pay up to 50% CV for good items and I trust you people a lot more than most E-Bay sellers, even though I have found a hand full of E-Bay sellers that I buy from regularly with no problem (so far!)! Comments?

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oldguy
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18 Jun 2021
05:39:52pm

Approvals
re: How to sell a collection?

I like selling approvals on Stamporama. Works well. I haven't had much luck with the Auction side.

That being said, it appears to me that StampoRama LACKs a way to easily sell in bulk; sell albums, or collections.


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Al
Collector, Moderator

19 Jun 2021
06:12:02am
re: How to sell a collection?

Since collections by their nature often vary widely, one could just post it in the sell thread rather than try the approval/auction section. This can allow more images.




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19 Jun 2021
08:42:35am
re: How to sell a collection?

"That being said, it appears to me that StampoRama LACKs a way to easily sell in bulk; sell albums, or collections."


The problem with selling a collection or part thereof here is likely to be lack of ability to post sufficient, quality images, combined with extreme postal/shipping charges.
With the high value of a collection, insurance cover against loss would also be a factor.
Sad to say but an unscrupulous seller is likely to make an appearance, and how do you track everyone?
Your local stamp club or dealer is probably the better way to go with a collection sale, I'd be wary of offerings on commercial sites like Kijiji or local Esites, where you would have to meet someone to do an exchange.
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StampCollector
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19 Jun 2021
11:31:56am

Approvals
re: How to sell a collection?

I side with Phil, will sell for a penny per stamp, buy them all or none!
Now, how many stamps are we talking about?

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Brechinite

19 Jun 2021
02:57:20pm
re: How to sell a collection?

$50.00 at a penny a stamp is 5000 stamps.

I'll take that up if the collection has just 1000 stamps pre 1952, 1000 stamps pre 1971 and 3000 of the finest "floor sweepings/wallpaper".

Rolling On The Floor Laughing

In all honesty do your research properly, whether to approach an auction house or a dealer or another collector or any other Tom, Dick or Harriet.

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Tom in Exton, PA

21 Jun 2021
12:53:12pm
re: How to sell a collection?

It comes down to how much work you want to put into it. And of course you will need the expertise to properly describe and list stamps.

If indeed you want the reap the maximum reward, selling it stamp by stamp can be the way to go, depending on the rarity and value of the better pieces. Then you are investing a lot of time… time is money… and gambling seller fees that you will indeed profit at a scale that it was worth the effort.

Most average collections have average stamps that are a dime a dozen. Thus not worth breaking it down. And once you sell the dozen or so stamps that had value, the remainder is worth pennies.

For the most part, those collections can be sold as one lot.. either to a dealer, through an auction or on eBay. Described well with some key photos will allow people to bid and gamble on any hidden treasures.


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Love & Peace

21 Jun 2021
08:04:06pm
re: How to sell a collection?

You can't sell a collection unless you have these 3 conditions:
.
1) MNH complete set of unusual stamps in strong demand.
2) Rare stamps with low mintage.
3) Stamps with scarce date or Proof condition.
.
If I were you, I would trade the collection with somebody for an item (A watch or camera).

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cdj1122
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21 Jun 2021
08:41:27pm
re: How to sell a collection?

" ... 1) MNH complete set of unusual stamps in strong demand.
2) Rare stamps with low mintage.
3) Stamps with scarce date or Proof condition. ..."


THen the people who out bid me frequently on fairy
routine postally used collections must all be shills.
Or are you referring to your club stamp auction ?

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Al
Collector, Moderator

22 Jun 2021
06:00:45am
re: How to sell a collection?

I associate the words mintage and proof as terms used for coins.

This is an old thread that got bumped but would add American Philatelic Society had almost an entire issue of its journal on selling. It almost seemed like an infomercial.

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Brechinite

22 Jun 2021
07:17:17am
re: How to sell a collection?

When I am asked to "look" at a collection I look at it and then either recommend to the owner to a specific long standing dealer who has a stamp shop and holds stamp auctions or take it to a specific local auction house that holds general auctions.
I also tell them what percentage of the hammer price a seller has to pay.

I will never offer to buy their collection thus avoiding the many pitfalls that may occur.


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cdj1122
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Silence in the face of adversity is the father of complicity and collusion, the first cousins of conspiracy..

23 Jun 2021
08:49:27am
re: How to sell a collection?

"... I will never offer to buy their collection,
thus avoiding the many pitfalls that may occur. ....

Besides the temptation to overpay due to the soon to be
demolished friendship, someone, sooner or later, based
on their barroom gained knowledge, will tell the
acquaintance that they were cheated.

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Brechinite

23 Jun 2021
10:12:43am
re: How to sell a collection?

I couldn't have said it better Charlie.

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Tom in Exton, PA

23 Jun 2021
01:23:55pm
re: How to sell a collection?

"I will never offer to buy their collection thus avoiding the many pitfalls that may occur."



Amen! Back in the 1970s when I was in my teens, I was quite active with stamp collecting. I spent time working the counter in the local stamp and coin shop, and was better with stamps than the two owners who were really coin guys.

The tough part always was when people brought in collections to either get appraised or sell. I quickly learned to identify the albums the USO gave to soldiers in hospitals. These always had the most plentiful used stamps and a lot of damaged stamps, no doubt how donations ran.

One of these was my good friend's mother. She always told me about her father's legendary stamp collection and she'd show it to me some day. Well, she decided to cash in the family fortune to earn college money for my friend and his sister. She showed up at the shop one day and it unfortunately was one of these albums.

I basically had to tell her it was worthless. She flipped out on me, and yelled at the store owners that this young kid had no business behind the counter! The store owner echoed my appraisal, and she left in a huff, mad that I had disrespected her father! I don't think she ever talked to me again.

I understand that she had built this up in her mind over the years, as many people have done. She no doubt understood my assessment and it was just unfortunate that I had to burst her bubble.

There was a talk at our stamp club by the owner of a big shop / auction company who said that's a daily occurrence. He has to tell people that their family 50 year hoard of commemorative stamp sheets are worth less than 50% face. He said he doesn't even buy them because it would cost him more to pay an employee to put them on their mailings than he'd save in postage.

Same with all those "mint" produced instant collectibles... everything from the silver bars and coins of the presidents and state capitols in the oak presentation case to the officially addressed first day cover collections. In fact I have a couple of them in their padded albums in my basement. Another friend understood they were worthless and told me just to keep them!





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Brechinite

23 Jun 2021
02:05:35pm
re: How to sell a collection?

I had one friend who eventually produced from his attic his grandfather's and fathers' stamp collection.
I went through it told him they were worth around $1500.

I said I would pick out the best items and lay them out with proper protection and presentation rather than in the ad hoc undesirable containers they were in.

He said he'd think about it and duly took them home and shoved them back in the attic!!

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This is my diabetic cat OBI! I think, therefore I am - I think! Descartes, sort of!

23 Jun 2021
02:54:04pm
re: How to sell a collection?

As an antique dealer and long-time stamp collector I've had several people give me their stamp "collections" to look at. I always tell them that unless the collection had time and money invested in it all you will probably have are mostly low denominations soaked off letters. I always say that there is possibly, but not probably, a treasure hidden in there somewhere. One lady gave me a shopping bag of mostly loose odds and ends. Luckily no one has yelled at me yet, but that could be because I always tell them how much work and time has to be spent to make a valuable stamp collection. I also give them the option of having a real stamp dealer evaluate the collection if they're willing to go to "stage 2" and how much it would cost - no takers so far. There are probably valuable collections out there in shopping bags, but I have yet to see one! AND I NEVER OFFER TO BUY SINCE THAT WOULD BE A CONFLICT OF INTEREST!! We used to have travelling antique appraisers in our area who were willing to buy your stuff, I never participated since I think that should be considered a very shady thing to do! It might be considered to be fraud, and should be.

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25 Jun 2021
05:32:04am

Auctions - Approvals
re: How to sell a collection?

This might be off topic - but it is something I have wondered about especially with no one in the family collecting stamps. Having never sold any part of my collection, I am wondering this. Perhaps someone here has experience. First, I'll assume that I get $10,000 for my collection. When the sale is finalized, and you get a check from the buyer - lets say Mystic for arguments sake, do you also get some kind of form that you have to include with your next years taxes showing this as income AND the second question, how would you show whether that amount of money is profit or in fact could actually be loss? What would you go by? I'm sure there are people who keep records of prices paid for stamps and in fact based on what I and so many others know, chances are you will not recoup your purchase price unless you bought eons ago. How would you prove that to Uncle if you did not keep records? I've got to think Uncle wants every nickel and dime they think belongs to them - so if you can't prove anything they consider it all profit. Maybe I'm wrong though

Greg

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28 Jun 2021
09:55:43am
re: How to sell a collection?

" ... How would you prove that to Uncle if you did not keep records? ..."

I have no idea how much I have paid for stamps and albums since 1964 when I resumed collecting and I am quite sure I am not alone in that quandary. Legally, and patriotically I suppose one should make a fair guess, based on what can be proved using whatever bills are lying around.
If you have children and grand children that you trust you might use some form of gifting so that the collection acquires a new value on your death and thus if sold for that amount it would be tax neutral. I am sure to do that right would require a clever philatelicly knowledgeable tax accountant.
Since I am not planning on living forever I have added a large section in my will detailing which albums go to which heir. Personally I hope none rush to their corner stamp store to cash in as that, I am certain will lead to major disappointment.
Beyond that, I suppose I'll be just ashes and very low on the caring scale. I would like to think that the different albums would be kept on some dusty shelf to be pulled down and opened on an occasional rainy Saturday and shown to the great grand kids or perhaps their children.
Ideally, I think that if I have a fair warning, I'll be able to present thing to various visitors personally, but truthfully my demise is likely to be rather swift when my heart decides enough is enough. Of course, I just might outlive you all just to be a pain in the collective butt.

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cshahar

20 Nov 2017
12:11:55pm

Hi Everyone:

Unfortunately, my stamp collecting days have been cut short by a couple of disasters at my home and numerous expenses that have incurred. My collection does not consist of exceptionally valuable stamps. The most noteworthy are nice US # 1 & 2, several US under #100 although none worth more than $350, and 100-200 country specific stamps of nice quality from Newfoundland, New Zealand, India and 3-4 other countries.

How can I sell them? Do I send them on consignment to a specific auction house? If so, can you please make recommendations? Or will the auction house make me an offer for the whole lot? If the auction house makes me an offer for the whole lot I would assume I would make much less than if I was patient for consignment auctions.

I don't want to go the eBay route selling items piecemeal. I am just too preoccupied right now with other life issues of more immediate import...

Any help would be appreciated!

Thanks!

-Charles

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philb

20 Nov 2017
04:20:11pm

Auctions

re: How to sell a collection?

Charles,people would need more information in order to suggest where to dispose of your stamps..for starters, what part of the country do you live in ? Which dealers did you purchase from ? Do you belong to a stamp club ? Do you belong to the American Philatelic Society ?

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cshahar

21 Nov 2017
02:56:33pm

re: How to sell a collection?

Hi:

Sorry for the late reply. I actually live in Canada, but don't mind dealing with an American auction house. Most of my purchases were from Sandafayre, Apfelbaum (only at the beginning), & HipStamp. I was hoping to find a popular auction house that is trustworthy and interested in the type of collection I have! Anglophile, thank you for your suggestions!

-Charles

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22 Nov 2017
02:51:21am

re: How to sell a collection?

Eastern Auctions is one of the best in Canada.

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22 Nov 2017
04:03:19am

re: How to sell a collection?

Note that putting material on consignment with a stamp auction firm is not without risks. In the last year there was a large auction firm which went out-of-business. Many hobbyists who had material on consignment lost everything; for some this ran into five figures.

It can be quite difficult to understand a firm's financial standing. There may be some type of insurance available but you will have to seek it out.
Don

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cshahar

23 Nov 2017
04:53:39pm

re: How to sell a collection?

Wow. I never thought of that Don!

Kelly, I wasn't sure about going with a Canadian auction firm. Does Eastern get a lot of traffic, and are the prices in American?

Thanks,

-Charles

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doomboy

23 Nov 2017
09:29:10pm

re: How to sell a collection?

Both Vance and Eastern see some pretty good action. They both sell in CDN.

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24 Nov 2017
01:56:16am

re: How to sell a collection?

Eastern is extremely popular in Canada.

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cshahar

25 Nov 2017
09:13:09pm

re: How to sell a collection?

I am wondering whether selling in Canadian would mean less lucrative returns given the exchange. On the other hand, it doesn't have to go through the border!

-Charles

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virgilp

23 Sep 2018
09:27:45pm

re: How to sell a collection?

Even if this topic is old, what would be the situation in US? Mystic advertises in any Scott catalog that they are the biggest buyer of stamp collections. Are they coming to my place? What kind of prices they have?
I guess that we should re-open this subject.

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michael78651

24 Sep 2018
12:04:51am

re: How to sell a collection?

Mystic will talk to you first to find out exactly what you have. If you have a valuable collection, they will probably come to you to look at it. Otherwise, you will have to send what you want to sell to their buying office in Denver, Colorado. They will send you instructions via email. When they receive the stamps, they will look them over, and send you a check, which is their buy offer. If you like their offer, cash the check. If not, send the check back per the instructions in the letter that comes with the check.

In fact, I just sent them over $12,000 catalog value in stamps for an offer to buy. A few days ago I received their check. Are you ready for this? It was for 1.8% (rounded up) of catalog value. It cost me $103.00 to send the two parcels to them. I sent the check back to them. They will return my stamps to me at their cost. Yes, I am out $103.00 from this transaction.

I did call them up and ask them why the joke offer? I was told that they can't pay much for stamps, because no one is buying stamps anymore. Stamps are a tough sell. I told the representative that they buy at 1.8% and sell at 150%, and that stamp sales are actually doing fine on the internet. I told the representative that I didn't believe her, and that I wasn't amused by this. After all, if they can't sell stamps, because no one is buying stamps anymore, why do they claim to buy millions of dollars of stamps each year?

I supposed if you just want to get rid of your stamps and get a few dollars for them, sell to Mystic. If you'd really like a fair offer, try a different dealer, or sell online, or through the APS Sales Division. You will realize a much higher rate of return.

Does this answer your question about Mystic?

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virgilp

24 Sep 2018
12:27:04am

re: How to sell a collection?

YES!
YES!
YES!

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angore

Al
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24 Sep 2018
07:38:29am

re: How to sell a collection?

Michael,

Was this Mystic that paid for the low amount?

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dani20

24 Sep 2018
08:55:08am

re: How to sell a collection?

Charles, sorry to hear of tough times but you sound like you're a tough old bird-be strong, stay strong. On trying to maximize your return- if you've got your collection into a shape that could be identified by catalog numbers, have you considered posting those #'s under proper country headings right here on SOR? We have an international membership that might be interested, and many folk with specific interests.

I personally am a U.S. collector, and both our auctioneer and president are most helpful in responding to member inquiries. Drop them a personal message (see home page) to do that. (If you have U.S. inquiries, I'd be happy to respond as well.)

Good luck on your quest, and know that you have support here at SOR.
Best,
Dan C.

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michael78651

24 Sep 2018
10:44:52am

re: How to sell a collection?

AL, yes.

It was an offer, which I rejected.

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michael78651

24 Sep 2018
11:20:04am

re: How to sell a collection?

Here's what bothers me about this ridiculous low-ball offer:

- Mystic advertising states that they pay the best for people's stamps, because they have a large demand for stamps from their customers

- When asked why such a low-ball offer, I was told that no one buys stamps anymore, so they can't offer much for stamps due to the lack of demand.

- Either this is false advertising, including their mail solicitations to buy, or I was lied to by their buying department.

I have seen such offers before (even from buyers in resale stores). They figure that a seller paid, like me, a large sum of money to ship the material. Make a low-ball offer that will cover the seller's shipping costs, and throw in a little bit more for the seller's troubles of putting it all together. The thought is that most sellers won't want to be out the money that it cost to ship, so while the seller will be out the stamps and not happy about the offer, the offer will be accepted anyway (check in hand is hard to turn down).

I think that both practices by Mystic as I encountered are fraudulent. I have a mind to report this to the APS.

The other possibility is that the buyers low-ball the offer, keep (or buy at employee discount) a good chunk of what was bought, and send a few nuggets to the company. Then they sell the material on their own and reap in some good profits for themselves. I have encountered this before at a local store. I rejected the store's offer, and reported the buyer to the store's management. The manager investigated, and the buyer was fired.

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Webpaper

In loving memory of Carol, my wife for 52 years.

24 Sep 2018
01:26:04pm

Auctions - Approvals

re: How to sell a collection?

I think you are right about the buyer. They didn't used to use a buyer, they dealt directly out of Camden (NY).

Back 25 or 30 years ago I picked up some mid century modern furniture cheap at a garage sale. In talking to the people, they said they had a large collection of Civil War Patriotics (used)/ I gave them the names of two local dealers whom I knew personally. Both were reputable and from past dealings I knew they paid fair prices to non-collectors.

Mystic beat them both out on a high four figure collection.

Times change....




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rjan

24 Sep 2018
02:08:34pm

re: How to sell a collection?

This is a universal issue for all collectors. There always comes a time when the collection must be disposed of. It is my opinion that all of us need to put thought into this, for ourselves and our families.

Any significant collection presents a challenge to dispersal. We are discussing auctions or dealers above. There is a significant need for the APS and other groups to develop information and strategies. I think the discussion should be constant on this site.


I belong to a local trading group, and have access to some local dealers at stamp shows. I am now going to make a effort to get recommendations from the dealers I know. One suggestion I have made (untaken I must admit) to a fellow collector looking to wind down at the club was to reserve selected favorite areas and offer the remainder for sale at the club.

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burrowsj

As of April 1 2022 I will only sell and trade with members in Canada and USA.

24 Sep 2018
04:54:26pm

re: How to sell a collection?

Hello Charles: You might also try Sparks Auctions in Ottawa.....google the website and address and or phone number.They have a large internet and live auction three times a year.I have bought and sold there many times over the years with good results and have found them always to be most honest and trustworthy.Contact stephane@sparks-auctions.com

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michael78651

24 Sep 2018
05:41:09pm

re: How to sell a collection?

They are supposed to be sending the stamps back to me at their cost. If it comes "COD", I won't be happy.

Funny that in my telephone interview I was asked what I had, I told them. I was asked how much I was expecting to get for the stamps, I gave them a range, knowing that they would have to look the stamps over. They didn't even come close.

I intend to keep track of these stamps as I sell them off on my own. They were all identified for ease of reviewing, so the Mystic buyer can't say that it looked like a bunch of "stuff" that was an unidentifiable accumulation of mismashed floor sweepings.

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smaier

Sally
25 Sep 2018
10:16:07am

re: How to sell a collection?

Michael - did you use actual stamps for the $103 postage? Let us know how your items are returned....

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michael78651

25 Sep 2018
12:51:37pm

re: How to sell a collection?

No, I presented the two parcels to a clerk for meter postage.

Mystic says that they send returns via FedEx ground.

I actually got a return call (after two weeks) from the buyer's coordinator. I asked if they got the notification that I rejected the offer, and was told no. I told them to prepare the parcels for return. I mentioned what I was told regarding why Mystic can't pay much (no one is buying stamps anymore). They weren't happy to hear me say that, and I started to get lines of excuses why they only offered to pay so little. I didn't want to talk anymore to them, so I just told them they were a joke, and to get ready to send it all back to me. End of call.

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Collecting King George VI from all countries, and King Edward VII and King George V from the West Indies.
25 Sep 2018
02:59:23pm

re: How to sell a collection?

I appreciate your frustration with what you feel is a low ball offer for your collection.

I would be curious about the make up of the collection. $12,000 in exclusively high value items from desirable countries in excellent condition should not generate a below 2% bid. But if it is made up of all low value stamps from wallpaper producing countries in poor condition - then it might be a generous offer.

As a part-time dealer, I have come to realize how much work goes into breaking down and selling a collection. You also have your money tied up for possibly a long time before you sell the stamps. In my case, I put all of my sales revenue after taxes back into my inventory, so I don't have to pay 2% of catalog for items.

My suggestion if you want a higher value for your stamps is to take on some of the work yourself by breaking down the collection, scanning it for sale and listing it on ebay or one of the other auction sites. You won't get a high value of catalog, but you will certainly do better than the offer you received. Another option is the APS. They have a mail option or an on-line option.

All of these alternatives miss one of the key items of selling directly to a dealer. You get immediate payment and don't have to do any additional work.

Ultimately you have to decide on the value of your time and whether you have highly desirable or run of the mill stamps in your collection.

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michael78651

25 Sep 2018
04:17:05pm

re: How to sell a collection?

I do all that you suggest, which is very good advice. I gathered up a large number of world wide items that were all identified (cataloged), including many items with cats from $10.00 up to $750.00. Many MNH complete sets, souvenir sheets and singles from Canada, Western Europe, Russia, Asia, Oceania and other places. The need for a quick influx of cash was the reason for my doing this, so I did "cherry picking" from the items that I had up for sale, and waiting to be posted to try to optimize a buy offer.

I am realistic in my expectations that no dealer will or can pay me anywhere near full, or even half catalog. An offer of 1.8% is grossly inadequate for the material that I sent to them. Yes, there are some other low-valued material in what I sent, but most of it is not that.

It's all right. I'll put them back in with my selling stock and put them up for sale in the different venues where I sell stamps (not Ebay), and a new venue that I just joined today. I'll just have to ramp up my selling as it has been low-keyed for about a year due to family matters that required alot of my attention and time.

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angore

Al
Collector, Moderator
25 Sep 2018
04:20:02pm

re: How to sell a collection?

I would let David Sundman know.

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michael78651

25 Sep 2018
04:26:49pm

re: How to sell a collection?

I have considered calling him (Don).

Right now, I want my stamps back first.

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Collecting King George VI from all countries, and King Edward VII and King George V from the West Indies.
25 Sep 2018
05:25:57pm

re: How to sell a collection?

If it is good stuff, I would sell it myself also. Take out the middleman and keep the money.

It is pretty obvious from the price that they didn't really want it.

I have a neighbor who is in the concrete business. He told me that his price is based on how hungry he is for work. He low balls people when he gets booked up. The cost is the same, it is just a matter of desire for him.

Good luck

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michael78651

25 Sep 2018
06:41:22pm

re: How to sell a collection?

"It is pretty obvious from the price that they didn't really want it."



That of course is another possibility. In the end, it'll mean more money for me, but it won't be a lump sum. That's Okay too.
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virgilp

18 Jun 2021
11:39:11am

re: How to sell a collection?

Got interesting opinions about Mystic. What about Dutch Country Auctions? They are in USA. What do you know about them? Did somebody sell something through their auction? Is the return from their auctions reasonable?

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HolocaustStamps

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18 Jun 2021
01:28:33pm

re: How to sell a collection?

Did anyone ever hear from cshahar what the resolution was to his original issue? Did he sell them? To whom? For how much? Was it fair?

That would be interesting info when this issue arises again.

Dave

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18 Jun 2021
01:50:31pm

re: How to sell a collection?

I think there are several of us on SOR who would be willing to pay fair amounts for higher valued stamps we are missing. If any of you have collections that you wish to sell maybe post an add on the "stamps for sale" area asking collectors to get in touch directly rather than use the auction area. There are very few sellers who use the SOR auction for higher priced items. I'm not going to say which seller I used but I picked up some wonderful higher priced items this way for a price which seemed to be fair to both parties. Just a suggestion, but it might work well. All it would really require is sending a want list to the seller and a bit of haggling. I, and probably many of you, would be willing to pay up to 50% CV for good items and I trust you people a lot more than most E-Bay sellers, even though I have found a hand full of E-Bay sellers that I buy from regularly with no problem (so far!)! Comments?

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oldguy

18 Jun 2021
05:39:52pm

Approvals

re: How to sell a collection?

I like selling approvals on Stamporama. Works well. I haven't had much luck with the Auction side.

That being said, it appears to me that StampoRama LACKs a way to easily sell in bulk; sell albums, or collections.


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angore

Al
Collector, Moderator
19 Jun 2021
06:12:02am

re: How to sell a collection?

Since collections by their nature often vary widely, one could just post it in the sell thread rather than try the approval/auction section. This can allow more images.




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sheepshanks

19 Jun 2021
08:42:35am

re: How to sell a collection?

"That being said, it appears to me that StampoRama LACKs a way to easily sell in bulk; sell albums, or collections."


The problem with selling a collection or part thereof here is likely to be lack of ability to post sufficient, quality images, combined with extreme postal/shipping charges.
With the high value of a collection, insurance cover against loss would also be a factor.
Sad to say but an unscrupulous seller is likely to make an appearance, and how do you track everyone?
Your local stamp club or dealer is probably the better way to go with a collection sale, I'd be wary of offerings on commercial sites like Kijiji or local Esites, where you would have to meet someone to do an exchange.
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StampCollector

19 Jun 2021
11:31:56am

Approvals

re: How to sell a collection?

I side with Phil, will sell for a penny per stamp, buy them all or none!
Now, how many stamps are we talking about?

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Brechinite

19 Jun 2021
02:57:20pm

re: How to sell a collection?

$50.00 at a penny a stamp is 5000 stamps.

I'll take that up if the collection has just 1000 stamps pre 1952, 1000 stamps pre 1971 and 3000 of the finest "floor sweepings/wallpaper".

Rolling On The Floor Laughing

In all honesty do your research properly, whether to approach an auction house or a dealer or another collector or any other Tom, Dick or Harriet.

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BenFranklin1902

Tom in Exton, PA
21 Jun 2021
12:53:12pm

re: How to sell a collection?

It comes down to how much work you want to put into it. And of course you will need the expertise to properly describe and list stamps.

If indeed you want the reap the maximum reward, selling it stamp by stamp can be the way to go, depending on the rarity and value of the better pieces. Then you are investing a lot of time… time is money… and gambling seller fees that you will indeed profit at a scale that it was worth the effort.

Most average collections have average stamps that are a dime a dozen. Thus not worth breaking it down. And once you sell the dozen or so stamps that had value, the remainder is worth pennies.

For the most part, those collections can be sold as one lot.. either to a dealer, through an auction or on eBay. Described well with some key photos will allow people to bid and gamble on any hidden treasures.


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21 Jun 2021
08:04:06pm

re: How to sell a collection?

You can't sell a collection unless you have these 3 conditions:
.
1) MNH complete set of unusual stamps in strong demand.
2) Rare stamps with low mintage.
3) Stamps with scarce date or Proof condition.
.
If I were you, I would trade the collection with somebody for an item (A watch or camera).

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21 Jun 2021
08:41:27pm

re: How to sell a collection?

" ... 1) MNH complete set of unusual stamps in strong demand.
2) Rare stamps with low mintage.
3) Stamps with scarce date or Proof condition. ..."


THen the people who out bid me frequently on fairy
routine postally used collections must all be shills.
Or are you referring to your club stamp auction ?

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Al
Collector, Moderator
22 Jun 2021
06:00:45am

re: How to sell a collection?

I associate the words mintage and proof as terms used for coins.

This is an old thread that got bumped but would add American Philatelic Society had almost an entire issue of its journal on selling. It almost seemed like an infomercial.

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Brechinite

22 Jun 2021
07:17:17am

re: How to sell a collection?

When I am asked to "look" at a collection I look at it and then either recommend to the owner to a specific long standing dealer who has a stamp shop and holds stamp auctions or take it to a specific local auction house that holds general auctions.
I also tell them what percentage of the hammer price a seller has to pay.

I will never offer to buy their collection thus avoiding the many pitfalls that may occur.


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23 Jun 2021
08:49:27am

re: How to sell a collection?

"... I will never offer to buy their collection,
thus avoiding the many pitfalls that may occur. ....

Besides the temptation to overpay due to the soon to be
demolished friendship, someone, sooner or later, based
on their barroom gained knowledge, will tell the
acquaintance that they were cheated.

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Brechinite

23 Jun 2021
10:12:43am

re: How to sell a collection?

I couldn't have said it better Charlie.

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BenFranklin1902

Tom in Exton, PA
23 Jun 2021
01:23:55pm

re: How to sell a collection?

"I will never offer to buy their collection thus avoiding the many pitfalls that may occur."



Amen! Back in the 1970s when I was in my teens, I was quite active with stamp collecting. I spent time working the counter in the local stamp and coin shop, and was better with stamps than the two owners who were really coin guys.

The tough part always was when people brought in collections to either get appraised or sell. I quickly learned to identify the albums the USO gave to soldiers in hospitals. These always had the most plentiful used stamps and a lot of damaged stamps, no doubt how donations ran.

One of these was my good friend's mother. She always told me about her father's legendary stamp collection and she'd show it to me some day. Well, she decided to cash in the family fortune to earn college money for my friend and his sister. She showed up at the shop one day and it unfortunately was one of these albums.

I basically had to tell her it was worthless. She flipped out on me, and yelled at the store owners that this young kid had no business behind the counter! The store owner echoed my appraisal, and she left in a huff, mad that I had disrespected her father! I don't think she ever talked to me again.

I understand that she had built this up in her mind over the years, as many people have done. She no doubt understood my assessment and it was just unfortunate that I had to burst her bubble.

There was a talk at our stamp club by the owner of a big shop / auction company who said that's a daily occurrence. He has to tell people that their family 50 year hoard of commemorative stamp sheets are worth less than 50% face. He said he doesn't even buy them because it would cost him more to pay an employee to put them on their mailings than he'd save in postage.

Same with all those "mint" produced instant collectibles... everything from the silver bars and coins of the presidents and state capitols in the oak presentation case to the officially addressed first day cover collections. In fact I have a couple of them in their padded albums in my basement. Another friend understood they were worthless and told me just to keep them!





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Brechinite

23 Jun 2021
02:05:35pm

re: How to sell a collection?

I had one friend who eventually produced from his attic his grandfather's and fathers' stamp collection.
I went through it told him they were worth around $1500.

I said I would pick out the best items and lay them out with proper protection and presentation rather than in the ad hoc undesirable containers they were in.

He said he'd think about it and duly took them home and shoved them back in the attic!!

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This is my diabetic cat OBI! I think, therefore I am - I think! Descartes, sort of!
23 Jun 2021
02:54:04pm

re: How to sell a collection?

As an antique dealer and long-time stamp collector I've had several people give me their stamp "collections" to look at. I always tell them that unless the collection had time and money invested in it all you will probably have are mostly low denominations soaked off letters. I always say that there is possibly, but not probably, a treasure hidden in there somewhere. One lady gave me a shopping bag of mostly loose odds and ends. Luckily no one has yelled at me yet, but that could be because I always tell them how much work and time has to be spent to make a valuable stamp collection. I also give them the option of having a real stamp dealer evaluate the collection if they're willing to go to "stage 2" and how much it would cost - no takers so far. There are probably valuable collections out there in shopping bags, but I have yet to see one! AND I NEVER OFFER TO BUY SINCE THAT WOULD BE A CONFLICT OF INTEREST!! We used to have travelling antique appraisers in our area who were willing to buy your stuff, I never participated since I think that should be considered a very shady thing to do! It might be considered to be fraud, and should be.

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Soundcrest

25 Jun 2021
05:32:04am

Auctions - Approvals

re: How to sell a collection?

This might be off topic - but it is something I have wondered about especially with no one in the family collecting stamps. Having never sold any part of my collection, I am wondering this. Perhaps someone here has experience. First, I'll assume that I get $10,000 for my collection. When the sale is finalized, and you get a check from the buyer - lets say Mystic for arguments sake, do you also get some kind of form that you have to include with your next years taxes showing this as income AND the second question, how would you show whether that amount of money is profit or in fact could actually be loss? What would you go by? I'm sure there are people who keep records of prices paid for stamps and in fact based on what I and so many others know, chances are you will not recoup your purchase price unless you bought eons ago. How would you prove that to Uncle if you did not keep records? I've got to think Uncle wants every nickel and dime they think belongs to them - so if you can't prove anything they consider it all profit. Maybe I'm wrong though

Greg

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28 Jun 2021
09:55:43am

re: How to sell a collection?

" ... How would you prove that to Uncle if you did not keep records? ..."

I have no idea how much I have paid for stamps and albums since 1964 when I resumed collecting and I am quite sure I am not alone in that quandary. Legally, and patriotically I suppose one should make a fair guess, based on what can be proved using whatever bills are lying around.
If you have children and grand children that you trust you might use some form of gifting so that the collection acquires a new value on your death and thus if sold for that amount it would be tax neutral. I am sure to do that right would require a clever philatelicly knowledgeable tax accountant.
Since I am not planning on living forever I have added a large section in my will detailing which albums go to which heir. Personally I hope none rush to their corner stamp store to cash in as that, I am certain will lead to major disappointment.
Beyond that, I suppose I'll be just ashes and very low on the caring scale. I would like to think that the different albums would be kept on some dusty shelf to be pulled down and opened on an occasional rainy Saturday and shown to the great grand kids or perhaps their children.
Ideally, I think that if I have a fair warning, I'll be able to present thing to various visitors personally, but truthfully my demise is likely to be rather swift when my heart decides enough is enough. Of course, I just might outlive you all just to be a pain in the collective butt.

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