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What Are Stamps Worth Part 2 - Subscriptions

 
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Posted 12/02/2016   3:26 pm  Show Profile Check KRelyea's eBay Listings Bookmark this topic Add KRelyea to your friends list Get a Link to this Message
Recently I saw 3 auction items that I thought would make an interesting post.

The 1st is on eBay;




http://www.ebay.com/itm/25260311216...RK:MEBIDX:IT

The 2nd is also from eBay;




http://www.ebay.com/itm/12223172405...RK:MEBIDX:IT

The third item is from Rasdales recent auction #430 and it was lot #220




What do these three items have in common? They are all basically the same, they are all large accumulations of subscription items. Subscription items are usually sold monthly and are covers produced specifically for the uninformed public and are marketed aggressively as philatelic collections. Gold Foil covers are a good example of this genre. These items are discussed in detail in the Forum in 2014;

http://goscf.com/t/8712&whichpage=2...tive,society

This explains it better than I could but I thought Don's post which refers to Postal Commemorative Society was pertinent to my post Don said;


Quote:
In one large lot of material I once purchased was a large quantity of PSC type covers. Also included was a box of letters from the old collector who had gotten to the end of his life and was looking to liquidate his stamps. His letters included all kinds of places and replies to his inquires on disposition of his holdings. He had a series of ever increasing frustration letters back to PSC where he outlined how he felt he had been taken. They blew him off. It is really kind of sad.
I almost wanted to scan all the letters and post them so others could see the pain this fellow went through. He invested a lot over the years, used it to springboard into the hobby, but later found out that he wasted his money. I can only hope he got some enjoyment from the hobby and did not take this bitterness to his grave with him.
Don




Now for the auctions. The first one offers 22 Albums for $5000, the seller bases his asking price on the Antiques Road show which said one album was worth $500 wow! Even at the asking price of $5000 I doubt he is getting his money back.

The 2nd collection includes 22 of these albums and interestingly the price was reduced to $995 while I was preparing this post. Originally I think this seller was also asking $5000.

The third auction is from Rasdale. This is a large group of these subscription albums plus a US album and $200 US postage. This one sold for $425 against an estimate of $220. Clearly Rasdale knows the value of this material.

The point of my post is twofold, first to alert people of the folly of buying these subscription type collections. They have no real value and after you pay $6 or $7 for a cover it is immediately worth about 15c. The second point was to illustrate the divergence of prices across similar items. I think eBay is a great place to buy or sell stamps but without knowledge of the material you can make a very bad purchase. I would suggest that if you're are considering a purchase of a stamp or stamps that you are not sure about ask the Forum for help before you buy because it will be too late afterward.

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United States
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Posted 12/02/2016   3:54 pm  Show Profile Bookmark this reply Add yakboomer to your friends list  Get a Link to this Reply
KRelyea, good post. I try to let all my family know that buying any philatelic or numismatic items for me is not a good idea, since none of them know, or want to know, anything about them. Years ago my sister-in-law paid good money for a colorized $2 bill to give to me, and of course, it is worth only $2.00. I didn't want to hurt her feelings so I just said thanks.
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Posted 12/02/2016   5:23 pm  Show Profile Bookmark this reply Add chasa to your friends list  Get a Link to this Reply
A friend of mine collects the 'gold leaf' covers. He removes the 'stamps' and keeps them in a Scotts National album. It makes a great presentation. He refuses to pay more than 10 cents each. There are thousands of different ones.
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Australia
64 Posts
Posted 12/02/2016   6:19 pm  Show Profile Bookmark this reply Add Buddahboy to your friends list  Get a Link to this Reply
Great Post KRelyea,
My Experience purchasing collections like this the only place is at an auction its their job to describe the lots accurately and you often have the opportunity to inspect the lots and make your own decisions before handing out your hard earned cash.
9 out of 10 on line sellers have no true idea of the value of these collections they list but there are some buying bunnies who will purchase from them.
I for one cannot see how anyone can purchase a bulk collection online based on a non expert pricing opinion and a few pictures

Happy stamping
Jason
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Rest in Peace
United States
4052 Posts
Posted 12/02/2016   6:21 pm  Show Profile Bookmark this reply Add ikeyPikey to your friends list  Get a Link to this Reply
QED, KRelyea, QED!
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