Stamp Values

I suppose Scott is the definitive catalog for stamp info, but not for realistic prices. I seem to remember back in the 70's when stamps at auction usually fetched prices higher than Scott. Now it seems that stamps usually sell lower than Scott. I will usually pay whatever I need to pay to acquire a stamp that I really want, but it would be nice to know the real value of the stamp. Is there an accepted source for actual stamp values?

The value of a thing is determined by supply and demand. If you're willing to pay a million dollars for a stamp, that stamp is worth a million dollars. If nobody will pay more than a penny, it's worth a penny. There are some broad guidelines, but we all know that places like ebay, things often sell for much, much more than they ought to in the heat of the bidding war. Those items aren't necessarily "worth" that much, they just sell that way.

Instead of worrying about what something is worth, decide on your own what a particular stamp is worth to you and don't pay more than that.

For me, the Scott Catalogue (or any catalog that I use - especially the more off the wall Back of the Book stuff) just gives me a guideline to value.

Is it a 10 cent item, a 1 dollar item, a 10 dollar item, or well over $1,000 or more - it just steers me into knowing the rarity of the item depending on condition. I don't put any merit into any catalog company magically knowing an exact price on anything out there.

Thanks everyone. I agree that each collector has to decide what they are willing to pay for a given item, but I have a lot of blank spaces to fill, many of which are common and inexpensive stamps. I don't want to pay $4 for a stamp that I could have found elsewhere for 50c just because I was ignorant of its "fair value." As I seek out these space-fillers on ebay, I would like some way to tell if the asking price is reasonable or not. Like Cephus said, stamps on ebay often sell for more than they "ought to". How do you tell what the "ought to" price should be for a common item??

When I am in the buying mode on ebay, I generally check the completed listings for a while. It tells me what has actually been paid for a stamp. I also check Wensy and Bidstart, two other online auction sites. That gives me some feel for what the market for that stamp is like. Of course condition varies so you have to adjust accordingly.

Now, if it is a scarce item or a one-of-a-kind item, or "I Just gotta have it" item, then I make up my mind on how much I am willing to pay and bid accordingly.

Hope that helps.

Dan