Auction Advice For A Newer Collector

I'd like to venture into purchasing from a stamp auction. I've started browsing the Stamp Auction Network to find some upcoming auctions. I was thinking of purchasing a U.S. album to acquire a sizable amount for my collection. I've purchased from eBay and hipstamp, mainly single stamps.

What tips would you have for a new internet auction goer? What should I watch out for?

Thank you in advance!

One thing woukd be to try to be clear about what you'd like your collection to look like in the short-to-medium term, and what you have to spend on it. Worth going for something better to avoid the future upgrades.

And, as I still sometimes forget, don't overlook the buyer's premium and the postage costs. £100 - or $ - can soon become 150.

Have fun!

It is a great way to get material. Also a wonderful way to get albums while paying only for the stamps within. Look for auction houses that describe their material well, and provide good pics online. I'm sure if you have questions on specific auction houses, people will share their opinions - certainly have my favourites and those to avoid.

Set your max bid for each lot ahead of time - taking into account the BP, shipping and taxes (if applicable) and stick to that. When I started I found that without that discipline it can be easy to get carried away while in a bidding war and just click one (or two) more times...

My two cents: there will always be another. Another auction, another collection, another stamp, another chance. Don't let emotions (greed, anger, FOMO, whatever) get the best of you. Auctions sometimes reward luck, sometimes reward risk-taking, but they always reward patience and discipline. What you didn't buy for $500 today, you'll one day get for much less.

Another thing to do is make a reasonably long list of possibilities. You may miss out on your preferred lots, but go back and see what of interest didn't sell and is available at the reserve. I've picked up a few bargains there over the years.

One of my favorite tips is to not infer things into a lot description. Descriptions are carefully worded to avoid negatives and make you conjure up positive things all on your own. Think about what is NOT said as much as what IS said.

If you do not have adequate information or images take a conservative approach an ask questions. Some auction houses will answer you and others will not.

Always approach a large lot/album with the premise that there is something such as heavy hinges or faults or misidentifications etc. present and let the auction house prove otherwise.

Most of all, READ THE TERMS & CONDITIONS. Know what the policies are for returns, commissions, payments, taxes and so on.

Most, if not all, auction houses will not take back a lot of more than ten stamps that are not listed as a distinct catalog numbered group or set. Remember that when bidding.

Keep in mind that some (more and more, it seems) respectable auction houses also sell on eBay and other online auctions. I believe more than a few also don't want their consignors or buyers (or maybe both) to know this and may sell "anonymously" or otherwise not divulge their auction house known name.

An important thing to reconcile is what are your goals with collecting stamps. I'm on my 4th go-around since the early 80's. My most recent is building back a MNH USA collection. Bought a lot of material in bulk figuring I'd be getting most at face value or lower. What I ended up with is a large amount of extra stock that is sitting on shelves because I just don't have the time to dispose of it. I think I did pretty well keeping costs down and got to pick through multiples of most issues, but to realize the savings I'd have to divest all this extra material.

Just something to consider... what will you do with all the extras when you're done picking through it...

As others have pointed out, I'd also be very cautious buying bulk items at auction, especially ones without good pics. It's almost always a way to hide faulty/fake items. The auctions I have done well at were high end collections broken down and some of the lower value items picked up at a decent price. For instance, I bought a MNH US 634A at a Siegel auction last year, was pretty nice, but did not have a certificate. Sent it to PSE and came back a clean grade 95, worth 4 times what I paid for it.

There's plenty of excellent advice already here, I'm not sure I will add much but:

1) Buy for enjoyment, in areas that interest you. Collecting should be a pleasure.
Your interests will evolve as you discover things and meet like-minded collectors.

2) Buy the best quality you can but be budget-conscious, patience in collecting is a virtue.

3) The knowledge you gain by reading online resources and books, to cultivate one's collecting interests, will be your best investment.