Auction Estimates For Stamps Without A Listed Value

I recently had an Auction experience that has left a very bad taste in my mouth in regards to dealers. I bid and won 3 lots. They were listed similar to: African Countries A-F, African Countries C-D, etc. I paid $700.00 for all 3 lots and all were stated to have an estimated value of at least $200.00. I started breaking down the first lot and it was full of Equatorial Guinea stamps. Hundreds of them. However none has a Value listed in Scott's. The second problem was with stamps from Tanzania. 27 partial sets of stamps had the top value value removed from all 27 sets. Normally, not a problem, as we have all seen collections with the more expensive values removed. However, these are really, really cheap sets - $140.00 for all 27 sets. Now for the problem. Scott's only lists a value for these stamps as a complete set. None of the individual stamps has a listed value. So, the question is, how can a dealer state an estimated value if there is no reliable value listed in Scott's? I know I overbid based on his lack of informing, through his posting, that the stamps have no listed value. The dealer has threatened to report me to the APS and the ASDA if I post this question along with his name. So, in case I am wrong in my thiking I will not state his name, at this time. I have also asked the APS and ASDA for an opinion in this matter but thought other collector's opinions might also be informative.

Huh? He's threatening to report YOU for asking whether HIS overvaluement of seemingly worthless stamps is ethical or not?

Name him.
End of.

There are many out there like that.
Not sure though why you bid $700 on stamps stated to catalogue $600 ??

Or am I missing something?

Londonbus1

How many stamps did you receive in total? if min CV is 20 cents per stamp 3000 stamps will have a CV of $600, in Scott's all stamps with minimum value are listed at 20c so if a stamps not listed I would think it fair to say it has a 20c value. Even though we all know this value is untrue.

Unfortunately as well, there is a difference between claiming CV and EstVal. CV is an established value. Estimated could be "estimated" by anyone, including him.

What is most concerning to me is his threat!

I wouldn't take the threats. The best and only action is take it straight to the dealer or threaten to sue. He's bluffing on the threats because he knows he was stealing.

If you paid using paypal you can open up a can of worms for him if you like. If he threaten you fair is fair

Sorry to confuse. I do not currently have the original listings so I stated all lots to a have a estimated value of at LEAST $200.00 each. That was the minimum I was certain was withing the bounds of his listings. I am certain they were higher or I never would have bid the $700.00. I will see if I can retrieve the original postings from Stamp Auction Network. No, he is going to repost me for my slanderous accusations, which of course there are not any, at this time. He also states that my concerns consist of "abusive behavior" & he will notify all dealers and auction houses of my "dangerous practices".

Any dealer worth his salt would have called it the whole lot a $100 balance lot.

oh for goodness sake, post the link or his name, please... he sounds like a jerk.

Here are the listings of which I am disputing the ENV. (Estimated Net Value). I am only asking if those valuations include the stamps from Tanzania, which are not priced individually and only in complete sets, were part of the vendor's valuation or not. I am also asking if the stamps from Equatorial Guinea, for which there is not a listed valuation, were included in that lot's estimated valuation. I have never asked to return the lots or asked for a refund. I am only trying to understand the hobby. I do find it interesting that Equatorial Guinea is listed as a "Better Country" when there were absolutely no stamps from that country that had a value listed in the Scott's Catalog.

443. AFRICA COLLECTION, "S - T", mixed mint and used, mostly mint, hinged on Minkus album pages, runs to about 1995, overall condition is mixed with some faults to be expected but generally Very Fine, there are some better singles and sets here, the better countries include: So. Africa, Spanish Morocco, Spanish Sahara, Sudan, Swaziland and Tanzania, (ENV 450-500)


444. AFRICA COLLECTION, "C - E", mixed mint and used, mostly used, hinged on Minkus album pages, runs to about 1990, overall condition is mixed with some faults to be expected but generally Very Fine, there are some better singles and sets, there are thousands of different stamps here, some of the better countries include: Chad, Congo, Fr. Congo, Dahomey, Djibouti, Equatorial Guinea, Eritrea, (ENV 450-500)

who is the seller?

I know who it is - you can search the listings of all firms on the Stamp Auction Network.

Ahh. Yes. Never done business with them.

I couldn't find it.. apparently I am search dumb..

This particular vendor only accepts payments over the phone or by mail.