Discussion - Member to Member Sales - Research Center
Discussion - Member to Member Sales - Research Center
In particular I am seeing issues from Tuscany, Sardinia, and other states where auction estimates are 1/25th of the catalog value for stamps which seem very attractive to me. By contrast at local stamp shows pricing is often fairly close to catalog value for the offerings that are available. Many of these stamps have very small production quantities based on published estimates. In most cases certificates from recognized authorities are present so it does not appear to be related to providence issues. Big differences are, also, seen for classic issues for Basel, Zurich, and Geneva cantons sometimes yet other times pricing seems to be fairly solid in matching catalog values.
One factor that seems to play a part for stamps from Great Britain and Canada in particular is that the Scott catalog values stamps as VF but less than 3% of stamps that I see offered meet the letter of the VF grade description from Scott regardless of the assigned grades by sellers. Most cases vendors are not assigning grades to stamps at all but price based on the Scott catalog's value for a VF stamp. There, also, seems to be a significant difference in what Scott sets as a value for a VF stamp and the Stanley Gibbons standard catalog value for a Fine stamp that is at least partially based on a difference in their respective stamp grades. In most cases pricing discrepancies tend to be on a factor of two though not the factor of twenty-five I am seeing in some auctions over the past few years for the Italian States issues in particular.
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Nothing new, this has been around for years and years.
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Any conjectures on why the discrepancy exists (or even fact based explanations/rationales/ideas 
)?
I am looking for useful content if possible! There has to be a real reason why this continues if it is true.
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I would question where the data is coming from to justify the catalog values.
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Many (most?) auction houses suggest very low estimates to draw in more bidders. It's the prices realised that are important, not the estimates
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For prices of classical stamps,like those from Italian states,the most important factor is quality.
It helps a lot,if you read the introduction of the catalogue beforehand.
Tuscany for comparison: (comparison between Scott 1990 and Michel 1994/95)
Scott no.6 (4 Crazie) is listed used at $ 14.-
Same stamp Michel no.6 is listed at DM 200.-,equivalent to about $ 100.-.
Sounds to be a big difference.But is it ?
Scott says their prices are for specimen in fine quality,
meaning: cutting is touching the design in places.
They say,specimen with margins all around sell for much higher prices.
Michel says: prices are for specimen with white margins all around.
That explains the price-gap between both catalogues nicely.
There should be no misunderstanding:
For me slightly touched stamps are fine enough.But they value considerably less.
Conclusion:
Such classical issues can only be valued one by one.The catalogue-prices can only give
a hint of their values,not more !
That is quite different for modern issues of the last 150 years or so.
I personally own few Tuscany stamps only.
All of them are inferior copies by Michel-standards,except of the 20 Cent.,
what shows the required white margins all around.
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Lately I have been receiving a number of auction catalogs from a variety of sources and have noticed some rather incredible differences between current catalog values assigned by Scott, Sassone, and Stanley Gibbons for stamps from the Italian States area and time period and am seeing huge disparities between auction estimates and catalog values. Does anyone know why this particular area seems to be excessively overvalued by the catalog publishers?
In particular I am seeing issues from Tuscany, Sardinia, and other states where auction estimates are 1/25th of the catalog value for stamps which seem very attractive to me. By contrast at local stamp shows pricing is often fairly close to catalog value for the offerings that are available. Many of these stamps have very small production quantities based on published estimates. In most cases certificates from recognized authorities are present so it does not appear to be related to providence issues. Big differences are, also, seen for classic issues for Basel, Zurich, and Geneva cantons sometimes yet other times pricing seems to be fairly solid in matching catalog values.
One factor that seems to play a part for stamps from Great Britain and Canada in particular is that the Scott catalog values stamps as VF but less than 3% of stamps that I see offered meet the letter of the VF grade description from Scott regardless of the assigned grades by sellers. Most cases vendors are not assigning grades to stamps at all but price based on the Scott catalog's value for a VF stamp. There, also, seems to be a significant difference in what Scott sets as a value for a VF stamp and the Stanley Gibbons standard catalog value for a Fine stamp that is at least partially based on a difference in their respective stamp grades. In most cases pricing discrepancies tend to be on a factor of two though not the factor of twenty-five I am seeing in some auctions over the past few years for the Italian States issues in particular.
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re: Regarding Italian States and Catalog Values
Nothing new, this has been around for years and years.
Login to Like
this post
re: Regarding Italian States and Catalog Values
Any conjectures on why the discrepancy exists (or even fact based explanations/rationales/ideas )?
I am looking for useful content if possible! There has to be a real reason why this continues if it is true.
Login to Like
this post
re: Regarding Italian States and Catalog Values
I would question where the data is coming from to justify the catalog values.
Login to Like
this post
re: Regarding Italian States and Catalog Values
Many (most?) auction houses suggest very low estimates to draw in more bidders. It's the prices realised that are important, not the estimates
Login to Like
this post
08:29:15am
re: Regarding Italian States and Catalog Values
For prices of classical stamps,like those from Italian states,the most important factor is quality.
It helps a lot,if you read the introduction of the catalogue beforehand.
Tuscany for comparison: (comparison between Scott 1990 and Michel 1994/95)
Scott no.6 (4 Crazie) is listed used at $ 14.-
Same stamp Michel no.6 is listed at DM 200.-,equivalent to about $ 100.-.
Sounds to be a big difference.But is it ?
Scott says their prices are for specimen in fine quality,
meaning: cutting is touching the design in places.
They say,specimen with margins all around sell for much higher prices.
Michel says: prices are for specimen with white margins all around.
That explains the price-gap between both catalogues nicely.
There should be no misunderstanding:
For me slightly touched stamps are fine enough.But they value considerably less.
Conclusion:
Such classical issues can only be valued one by one.The catalogue-prices can only give
a hint of their values,not more !
That is quite different for modern issues of the last 150 years or so.
I personally own few Tuscany stamps only.
All of them are inferior copies by Michel-standards,except of the 20 Cent.,
what shows the required white margins all around.
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like this post.
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