Opportunity To Purchase Stamp Collection

I collected US stamps avidly as a child and would like to resume the hobby now that I am retired. I have what might be a remarkable opportunity to buy a near complete collection of US single stamps beginning with Scott #1. It includes airmails, regular issues and commemoratives. Most stamps are mint beginning with those released in 1890. How can I assess the approximate value of this collection so that I may pay a fair price?

First to S.C.F. grisnik! That would be a daunting task as every thing value wise is based on Condition. With out seeing them first hand it would be near impossible. HOWEVER- Look through an updated Scott's Catalog for the stamps in the collection and start looking them up to the best of your ability and go from there. It sounds if it may get quite expensive especially for the high value ones of each set! God luck and I hope you make out well on the deal. Is this a private sale or from a dealer?
~Jay

edited for spelling errors

Grisnik,

Large collections can be difficult to assess a fair price due to the volume of stamps. Stamps from the modern era (post 1940) have relatively little value. Even unused stamps are rarely worth more than face value. Stamps from the classic era (1847 to 1940) will vary dramatically based on overall condition. This includes:

- Flaws (tears, thins, missing perforations, etc)

- Centering and grading (Are there clear margins around the stamp design, or do the perforations cut into the design? Prices can vary by hundreds of percent based on centering alone)

- Gum condition on unused stamps (No gum, original gum, perfect gum)

These are just a few items that will impact the value of a stamp. If the collection is expensive, take a step back and try to get an objective valuation.

One final thing. Most public libraries have copies of the Scott Specialized catalogue of stamps and covers. Take the time to read through the introduction on catalogue values, grade, and condition. Most people skip straight to the catalogue prices but miss out on the important stuff. This will help you make a better decision on how to value this collection.

Brian

As you may or may not know, US stamps from 1940 to date are generally worth minimal value (maybe face value if you're lucky), so your concentration needs to be on the early issues and the classic Airmails (assuming Zeppelins, etc., are there).

As for "catalog" values, remember, it is only a guide; value is relative to how much a seller is willing to take and a buyer is willing to pay for an item.

Condition is everything in evaluating each stamp. Some of the "classics" can catalog for $10, $100 or $1000+ but may be worth many times more than that because of exceptional condition, centering, margins, original never-hinged gum condition, etc. Others may be worth much, much less, because of defects in those areas. Some of the classic-era stamps, with special watermarks, grills, perforation varieties, etc., are so subtle that oftentimes it requires having the stamp expertized to be absolutely sure it is the stamp it is thought to be. Some great deals can be had because of a seller being inexperienced in such subtleties; others have been "taken to the laundry" and ripped off because of so-called "rare" stamps later being found to be of a common variety and worth only a fraction of what it was originally thought to be.

Bottom line is that there are a lot of variables to consider.

Good luck!

Welcome to Stamp Community Forum, grisnik!

I'm glad that you have decided to resume the hobby!

This sounds like a major purchase. I have to admit, I have some concerns, particularly when you use the phrases "remarkable opportunity" and "near complete". At this point, I don't know if that is your independent assessment, or if you came to that conclusion based on what the seller might have said. Those are sales phrases, not appraisal phrases. You are wise to ask for help regarding how to assess the actual value.

The others have already chimed in regarding methods of assessing the quality/value of the collection. I will take a different path and make the following suggestions/comments --

1. I'll be honest with you. I can't imagine considering buying a collection of this magnitude without having the experience of several "smaller" purchases under my belt. It's like buying a yacht based on a few canoe rides 40 years ago. If you are having to ask this question regarding how to assess a fair price for this type of collection, I strongly recommend that you hold off and wait. Buy a motor, hook it up to a small boat, play around with it awhile and know how it works and how to spot problems. Then when you feel comfortable, you can think about getting the yacht.

2. It's a lot of money. You are focusing on the stamps. I say, "Know your seller". If you know the seller well or have had previous major purchases from them with no problems, that's great. Otherwise, if a dealer, should be a member of ASDA if they are selling collections at that level. If an individual you have not dealt with before, then use EXTREME caution. Basically, what I'm saying is, if you are making a purchase at that level, please be able to INDEPENDENTLY verify their credentials/background.

3. More important than being able to ID the stamps (the seller will normally have no problem pointing out the highlights to you), is that you should have a basic working knowledge of how to detect repaired/altered stamps. Most sellers won't bother telling you about any "problems" with the stamps. I've seen some outwardly pretty good US collections that actually were full of repairs/alterations when I pulled the stamps out of the mounts to inspect them. The most common jobs are reperforations, regumming, use of hinge remnants to hide pinholes/thins/tears.

I hope you have fun with stamps, but again, buying at that level, you do have to be prepared/aware so that you are getting your money's worth.

k

Grisnik you got some great advice from everyone so I am simply going to say ditto. But most importantly - WELCOME! - jeff

gsinik, Enjoy your stay! Good luck with that collection!

Go to your local stamp dealer, and ask him
how much he would charge to appraise a collection.

If you purchase a almost complete collection..then what ?? Where do you go from there as far as collecting ???

Cinderellas ?

Sir, I am trying to get my head around this...you want to buy a collection...but you are not sure what its worth ! The buyer sets the price and if you really want it you say yes....otherwise just say no !

Thank you for all of your helpful responses. This collection was assembled many years ago by a now very elderly man. It is a private sale and I have carefully looked at all of the high denomination stamps (Zeppelins, Columbian exposition, Trans Mississippi, etc) and found them to all be very nicely centered, lightly hinged and free from damage. It appears to me that this is a remarkable opportunity but I am pressured in that it is being sold tomorrow to the highest offer. Is there a website (other than ebay) that contains information as to what these higher denomination stamps have actually been selling for? Thanks

sorry...i meant the seller sets the price of course !!

The following is of course without seeing any of the stamps.

A "Near Complete" US collection starting with #1 including all of the high denomination stamps, Zep's, Columbian's, Trans Mississippi, and early Air's is exceptional. When dealing with the mint 1890's-1920's 1mm of centering can change the value by $100 or even $1000's. A collection like this in VF condition could easly be a $100,000 collection when you get to XF the sky is the limit.

But, Proceede with caution!!
Reperfing, Regumming and Repairs have been done since the first stamps went through the mail. If it looks to good to be true it often is!

Being pressured into making an offer sets off warning bells in my mind.

Also, you cannot extrapolate single-stamp prices into a collection-wide price directly.

Let's say, for the sake of argument, that all of the key issues are sound... doubtful, but we'll go with it for now. A collection will sell for a much lower percentage than the keys will individually; it's just the nature of the beast. If you're paying 75% of Scott for the whole thing just because a few keys normally sell for that much, you would be overpaying out the wazzoo.

Most dealers would probably try to get the collection for 10-20% of Scott, unless there are major rarities included (and no, Zeps and Columbians do NOT qualify, unless you have a VF+ Scott 245 - $5 Columbian in there, and even that is not that scarce; the price is high simply due to demand).

If you can get the collection for about 1/3 of Scott *AND* all the keys are (1) properly identified and (2) properly valued as per condition, you should do ok.

Be aware that even what appear to be "minor faults" can devalue a stamp by 90% or more.

A purchase of this magnitude should not be entered into lightly by a novice (no offense intended).

There is Siegel Austions
http://www.siegelauctions.com/
They have previous auctions listed with pictures and prices estimated and realized.

Prices do change year by year and even faster than that depending on the demand, the seller, the buyer, the auction house selling, and many more factors.

A private seller selling to private collectors would have a certain price in mind, most likely from an appraisal done or from catalogues perhaps. This appraisal or catalogue valuation may be out of date and the prices have gone up or down even (Zeppelins).

If dealers are bidding on the lot them they need to sell it again or at least enough of the collection to recoup their outlay. They may have buyers in mind for certain stamps already. If you are on your own, then pay heed to the above advise from others regarding the haste makes waste ideas.

There is no real guarantee in stamp collecting or, even worse, stamp investing, if that is your aim.

If you will be happy with the acquisition of this collection, from what you know of it, then go for it. If you are unsure, price wise, value wise, knowledge wise, then wait. Part of stamp collecting and accumulating is feeling you have got some good stuff and are happy with how you got it. If you are unhappy with any part of the deal you will perhaps always rue the action in the future and the stamps will not bring you the enjoyment that they could have.