How To Sell A Collection

Thanks so much for all the suggestions. Seems like I've started 2 conversations, one of the stamps and the other of the coins. I don't really know how many coins there are and their value, I think tha twill be a seperate project.

Regarding the stamps I have to be honest, I don't have the time to join a stamp club and learn all I will need to learn. I also kind of cringed at the stamp show suggestion, I thought the same thing that the dealers there won't have the time to poor over 6 boxes. The suggestion that makes the most sense is to try to get a volunteer to spend 20 minutes looking over the stuff to tell me it's worth $100 or $10,000. I didn't see any libraries but I did again see the Baltimore Philatic Society and that may be a good spot to see if I can get a look once they have moved.

I guess I'm going to be stuck just going to a few shops and taking the best offer. The idea of scanning everything and selling them individually is out of the question, that would take someone years.

By the way, sorry for the mistakes on the last post. I typically throw stuff up and go back to edit if I find a mistake, such as "poor" vs "pour" for instance. Didn't realize that you can not do that here.

The suggestion that makes the most sense is to try to get a volunteer to spend 20 minutes "looking over the stuff to tell me it's worth $100 or $10,000."

This is why you join a stamp club, to meet one or more persons you believe you can trust for straight answers.

Totally agree doug. But I'm not sure it would fair to the club to join for the sole purpose of asking for a one time favor. Maybe I could contact a local club member, or as I said the society in Baltimore, and ask then to take a look.

I don't get it, I still don't get it..why would someone leave something of value and not an inkling of what its worth...no list ? no letter ? Just good luck !!

Let me explain. My wife has a client who is more like a friend. She lost her husband a few years ago and is just now getting around to clearing out her attic. We helped her clear out the stuff and take it to the dump, mostly old useless stuff, over the weekend and included in the rubbish was this collection.

She has plenty of money and just wanted the stuff out of the house. So as partial payment for the favor she gave us the collection. Our plan is to sell it and offer her half the money, knowing full well she will not accept it. But still we need to make the offer.

So most collectors leave a note with the estimated value of the collection?

EEEKKK I wish I was in your area - Not that I like taking time to play appraiser for free but shudder at possible outcomes. Defiantly call someone from a club or society and get at least 2 seperate opinions. Do not give any hint that you don't care and if anything show a keen interest if only for the 20 minutes. At least when you get an offer ask for some explanation - If all the post office fresh unused material is relatively all together you could do a quick adding of the face value and expect a minimum of 50% of that . If theres $5k in face value you know not to take $100-500 for everything.

Thanks again for everyone's help. I did as suggested and wrote to a stamp collectors club in the next town over. The guy was nice enough to respond already, saying he gets these requests quite often, and that since he is self employed he is happy to take a look whenever it's convenient for us. Couldn't ask for more than that huh?

This post and dozens like it should be a warning to collectors.

Is it fair to leave behind boxes, albums, etc., to your estate without leaving some idea of what the accumulation is worth?

I was asked to look at a stamp "collection" recently by the executor of an estate. The collection consisted of about 500 stamps in glassines. Not a collection and not worth anyone's time. Yet the executor had a duty to determine if there was any value.

Non-stamp collectors have no idea what constitutes a collection let alone a large one.

A Note to the estate such as the following will help:

"I collected stamps for many years. Since I did not want to be ripped off by stamp dealers I was smart and bought my stamps from the post office or bought large packets of stamps. I made sure that I spent as little as I could on my collection. I had a lot of fun doing this but I have to tell you that the mint stamps I bought from the post office since 1946 aren't even worth face value. The cheap stamps I bought are still cheap stamps. Do not expect to get much for my collection. You are not sitting on a potential bonanza. I didn't bother selling my collection because I knew it wasn't worth the trouble.

I know that my estate will waste time trying to find out what my collection is worth. To avoid this I want to give my collection to the local stamp club in my community. Even though I wasn't a member I'm sure they would appreciate my efforts."


DaveinMd, you know nothing about stamps but believe that you will be ripped off by stamp stores. (How can you lose when you were GIVEN the six boxes?)Not to worry. Stamp stores in the 21st century are close to extinction.

Go to a local stamp club meeting. Ask members of the club to look at your 6 boxes. Members will love the opportunity. In the unlikely event that there is a nugget you will be told. Ask the members what you should do.

Attention stamp collectors:

Give your family an idea of what your collection is worth. Don't make them spend any time on a hobby that they weren't interested in when you were alive!

Thanks lord. The middle section of your post does concern me. I may be sitting on boxes of worthless paper for sure. But I can in fact "lose" if I sell the set to a dealer for $200 and he knows damn well there's $5,000 in value. Despite the fact that we got them for free that is still something I am looking to avoid. But let's be clear, I am not planning on any form of windfall here. Hell a new set of tires out of the whole deal would be fine.




I'll set up a meeting with the guy who runs the local stamp club. I'll fill you in on what I have learned. Thanks again and any other input from others would be fine too.

DaveinMD actually a lot of collectors never tell their wives what they spent on their collections..and like the lady you are assisting..many of them just want the stuff gone..thats how stamp dealers make money !!

DaveinMD

SInce you are not a collector the following statement was not meant to be taken literally:

"I collected stamps for many years. Since I did not want to be ripped off by stamp dealers I was smart and bought my stamps from the post office or bought large packets of stamps.

I was trying to explain that this is an erroneous belief among collectors. Serious collectors are smart enough to realize that dealers are essential for the growth of a collection and the hobby.

Your comments about dealers are very disturbing. What evidence do you have that brick and mortar dealers are any less honest than vest-pocket dealers (collectors who have stamps to sell). What makes you think that the collector who will be visiting you will be honest? How much will you paying him for the evaluation? What are his philatelic credentials? If he offers $200, how will you know that he will flip the collection for $2000?

I suggest that you do the following:

1) Bring the 6 boxes to a stamp meeting. The members will be eager to help. You won't just have the vest-pocket types looking.

2) Probably the best course of action Get an appraisal from a professional. You paid nothing for the collection, spend a bit and you will have piece of mind.

I am not a stamp dealer. I am careful with all dealings with merchants, including stamp dealers.

DaveinMD actually a lot of collectors never tell their wives what they spent on their collections..and like the lady you are assisting..many of them just want the stuff gone..thats how stamp dealers make money !

Enough with the dealer ripoff nonsense!

Collectors make this your 2013 resolution :

Provide your families with a realistic appraisal of your collection's worth. Chances are it isn't worth much, but aren't you having a great time with the hobby?

Reposting from one of my previous posts:




To date, I have catalogued over $60,000 in Catalog Value, but I realize, selling being problematic, fire sale prices would realize substantially less.

I am currently wrapping up a sale of about 30 lots on ebay (of low value, low demand stamps, that did not even return the cost of mailing. Sale of the higher quality items would improve the situation and is most likely the way to go.