When it comes to selling a stamp collection, the most crucial thing to know is how much it is worth. You could be selling your stamps for far less than they’re worth if you don’t have a professional appraisal, you won’t get a fair payment.
You can contact an expert for valuation to know the value of your stamp collection or to get an idea of what you may anticipate getting for your stamps when you sell them at an auction, to stamp collectors, to private stamp dealers, or to stamp purchasers. Here are the 5 ways to sell your stamp collection, and click here to find out more information.
1. Using an Auction House to Sell
Stamps are the sole focus of some specialty auction houses. Although consumers may be worldwide, sellers typically list things with businesses in their nations. The catalogs of auction houses reach tens of thousands of people who could be interested. Even though the auction firm takes a fee, usually around 15%, this strategy frequently results in the highest stamp prices. In contrast to working with a dealer, there is frequently a long time between listing an item and collecting the cash, perhaps months.
Professionals frequently get top pay since they are familiar with the stamp market and know when to sell. Values fluctuate due to a variety of factors, including availability. Prices fall when there are too many stamps, while scarcity raises prices. These variations are known to dealers and auction houses, and they can advise you on how to time your sales to take advantage of changing supply and demand.
Selling your stamp collection via an auction house in exchange for a share of the proceeds can provide you with unrivaled exposure to philatelic experts and painstakingly studied values. They’ll usually tell you whether you should sell the collection as a whole or break it up into individual lots.
The specialist auction houses combine a live auction with an Internet and telephone bid, with a huge database of collectors and traders, whom they regularly contact.
2. Make use of a dealer
In our experience, many vendors are also collectors looking for a good price; regrettably, they will never announce this, be cautious. Reputable dealers will inform you whether or not your collection is valuable, as well as whether or not you should sell your goods individually or as a group. They could even make an offer to you if it is of sufficient worth. However, if you only want a proper evaluation, some can charge this service if the first choice is not available for purchases.
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Dealers deal with both collections and single stamps. You can either sell the item straight to a dealer or place it on consignment. Get everything in the contract if the dealer is selling stamps for you. Make sure to include a minimum fee, a maximum time limit, and payment terms in your contract. Always get a receipt and make accurate copies of the stamps before delivering
3. Philatelic Traders Society
Giving a stamp collection to a member of the Philatelic Traders Society (PTS) is a good method to assure that it will go to someone who has a real interest in philately. In the UK, the PTS has a lot of members. The PTS will inform you of local dealers and collectors that are prepared to offer you a quote, but every one of these may have different purchasing criteria, therefore you may need to get multiple quotes.
If something goes wrong with the sale, you’ll have rapid appeal through the society, which requires its members to follow an ethical code, though this is not a legally enforceable commitment.
4. Sell it on eBay.
Whether you like it or not, eBay connects you with a global audience of potential buyers. However, many of them will be hesitant to pay a premium for a collection they can’t see.
A comprehensive description will boost the probability of a sale when you’ve done your homework and know how much your products are worth. It’s tough to adequately describe your stamps and their state if you don’t know much about them, which is crucial if you want to sell them.
You can also put a ‘reserve’ price on your things to avoid losing them for a percentage of their genuine value. This will result in additional costs, which you should include in your decision-making process before proceeding.
5. Use charitable organizations
Stamp collections are accepted as charitable donations by the majority of high-street stores. They then send them to a specialized central department for a professional appraisal and sale. If you received a collection from a deceased person’s estate that was worth more than the inheritance tax threshold, you should have had it assessed and filed for tax purposes. Giving it to a charitable organization would make it’s worth tax-free, potentially lowering your inheritance tax obligations.
Before you sell a valued asset, think twice You should consider your options carefully before deciding on your preferred method of sale. In reality, because stamps are issued in such large quantities, the bulk of them are worthless. If you are fortunate enough to have a collection of rare stamps in good shape, however, it could be a highly valuable asset.
It will be worthwhile to invest some time in research. The Philatelic Traders Society (PTS) is the primary source of information and can assist you in locating local high street stamp dealers where you can begin your inquiries and receive a free expert appraisal. Stampex is a free annual exhibition held in Islington, London, where worldwide merchants, small auction houses, and dealers can be found. You might not be able to acquire a valuation for your collection there, but you will undoubtedly be able to speak with specialists and learn more about the exciting world of stamps.
There are so many ways in which you can sell your stamp collections such as auctions, dealers, charitable organizations, and more. The 5 ways mentioned above will help you choose the best way to see your stamp collection.