Create My Own Stamp Company

Is it worth the time to create an online stamp company? Has anyone else tried this? What are, if any of the down sides to this idea?

Ray, do you like to work a lot of hours ? I know a few guys who sell on the internet and they work 12 plus hours a day...i don't think I could get away with it around my house...

That's really two questions: selling and forming a company. You don't need a company to sell on ebay, and if your sales are not really high you remain below the revenooer screens.

the other night at the stamp meeting one of the guys was complaining how complicated it was to get a tax number and start a new business..i thought New York State would be more than happy to keep track of another income producer !!

If your not a stamp collector first and a stamp dealer a long way second you will be very disappointed. Convert stamping hours into profit and a $1 an hour is top money but you will have heaps of stock to look at.

philb,
Let me put this way. In this economy I have way too much time on my hands. Thats why I got back into my stamp collections so I can enjoy my collections and pass the time between sending out resumes.

And maybe get my kids involved to learn some business practices also.

ray if you r looking ofr a dealer with material from india let me knoe I also have a lot of time in my hands

Ray, give it a try....yesterday I mailed out 3 items..i received an email from Hong Kong asking for their item ASAP and then noticed they had paypaled me the money 5 minutes before..i guess I am not a people person...plus I would have to be extremely organized ..i seem to spend a lot of time searching for an item I had scanned a few days before..also I can not serve two masters..if I am selling on the net..my collecting time suffers..given the choice I much prefer to collect than to sell..but then I have too much "stuff" so I have to try and get rid of it..vicious cycle !!

phil the stories are quite entertaining please dont stop :)

What website(s)is the best to sell on? ebay seems expensive but popular, and upillar looks new and is free, not sure of the numbers of users on it. Running your own site can be expensive and time consuming. Any other ways that come to mind? Thanks in advance.

Ray,
You could always sell here on SCF. There are several stamp auction sites the APS stampstore, stampwants, delcampe, etc. Also, if you belong to a brick & mortor club you could sell there during silent auctions, bources, and stamp shows.

stamperdude,

Thanks for the input. I'll start looking at those sites and sign up with them and here also when eligible.

I have a good friend who is doing exactly this. He, his wife and father are creating a web site from scratch and buying up lots at auction. They have been building this website for over a year and it is still not launched. They tried to get me on board as I have more general knowledge and experience selling online (they have the capital), but I didn't want to ruin a friendship. Also I know it will be tough for them to establish a market from scratch. Their business model didn't jive with my own as I like the lower overhead. It's going to be a really tough road for them. I give them free advice when they want it. ebay, Delcampe and like have established customers and an easier route which I have taken when I don't have archaeology work. Will

IMHO, you either have to go big time or not go at all if you're going to make a living at it. If it's just going to be a hobby then selling on ebay or StampWants can be fun but frustrating. Unless you have something unique or are willing to literally work for a buck or two an hour it's just not worth it.

Phil's comment about people is so very true. You will go nuts trying to please people who won't allow themselves to be pleased.

IMHO

I sold on ebay for years, and I had my own website as well. I have more fun, and better profits, selling in online communities such as this one. It's easier to develop trust with people you interact with on a regular, often daily basis. Getting to know people, and what they want to buy, is far more fun than blind-listing on auction sites IMHO. Granted, your market is limited, but that's the only downside.

Hi! raywrio My family and I have been building 3 stamping sites for about 12 months now as a secondary stamping interest as I have a lot of time on my hands. The Australian dollar being so high at this time is slowing our sales to next to nothing but we keep building as our business plan is to wait 2 years before expecting much stock movement. The digital world was our first issue but have gone a long way with it all. ebay people seem to go ahead quickly but is not for us at this present time. Buying at auction with good discernment is attractive. To resell the stock at auction because things did not work out is the worst out come and your money would come back but the time and effort would amount to nothing. We believe it is all about giving things plenty of time to work out and not to be in a hurry. All the best hoping it works for you. Hang in there. KGV and family