What To Do If The Catalog Value Is Nothing But "—"?

There is a problem with catalog values of some classical varieties, and it is not the first time that I encounter this problem. I would appreciate fellow collectors' opinions on this subject.

For example: a few days ago I bought a nice lot of approximately a dozen of mint (lightly hinged and never hinged) classic stamps of Austria. Most of these stamps are in €60—€250 catalog value range.

In this lot, there is a never hinged 1883 20 kreuzer stamp, Michel No. 48.

Michel values the cheapest variety of this stamp, 48A. with comb 9-1/2 perforation, at €230 never hinged (€4 used).

The stamp in question has linear perforation 10-1/2 (Michel No. 48D). This perforation variety is rare and valued by Michel at €400 used.

The problem is, my stamp is never hinged. For never hinged stamp with perforation 10-1/2 Michel lists nothing but a long dash ("—") instead of value.

Now, I know that "dash" value not necessarily means that the stamp is a rarity. But if its catalog value is €400 in used state, and the ratio of the cheapest never hinged stamp of this number to the cheapest used stamp of the same number is 230/4 (57.5), should I assume that the never hinged perforation variety I have is approximately 57.5 times more valuable than an used stamp of this variety (€400 x 57.5 = €23,000)???

If not, how do I estimate the value of this never hinged variety?

Any thoughts are welcome.

The dash means that not enough of these have reached the market to give an estimate of its value. The meaning of this dash and all other marks can be found in the front of most catalogs.
Also, I do not think the 57.5 rule that you propose is correct! Your stamp's real value is determined by it's appearance and mostly if there is a market for it.

Peter

You can't assume that the MNH value will be incrementally the same as the used, since the high used value may be driven by use factors that didn't affect the mint stamp's availability. For example, the stamps may have been available for use for only a short period, but available for sale for a longer period for whatever reason (this is common with German issues, for example).

A better indicator would be current selling prices at auction. There are a couple MNH MiNr 48 D's available in the upcoming Reinhard Fischer auction, and both have a starting price of €120.

Postmaster,

Thank you — the actual auction starting price for 48D gives me a realistic view.

I should add that my suggestion about valuing this stamp on the basis of the ratio between values of cheapest never hinged and used perf variety was, naturally, sarcatic in nature. This is why I put three question marks there.

Sorry if somebody thought that I may have believed that this stamp is worth €23,000. I am not that simple-minded.

I keep a tally of my stamps, indicating their catalog value, just to have a ballpark figure of what I have in my collection. I am pretty much aware of the fact that nobody ever pays more than a fraction of a catalog value for most stamps, except in very special cases, and for very rare stamps.

So, when it came to this never hinged variety, after a moment of hesitation, I gave it in my tally the same catalog value that Michel gives for the used stamp of that variety, that is, €400.

Since the auction starting price for the never hinged Michel Austria 48D is €120, my guess was close to reality — though, maybe, catalog value of €600 would be closer. Classic varieties, even never hinged ones, rarely sell for more than 20% of catalog value.

Contact the catalogue editor about it since you have a copy of the stamp in question.

The first thing to do, is get it properly certified, to verify what it really is. Then you can go from there.

I didn't have the impression that there was any doubt as to what the stamp was - simply its Michel CV.

Certification, in many cases, is not necessary. I have enough experience (and, for comparison, about two dozen of other perforation varieties of Michel Austria 48, mostly used) to know what I have. I have another 48D, mint hinged, that shows the same gum. Also, it would be difficult to mis-identify Austria 48 with 10-1/2 perforation, since there are no cheaper varieties with similar perforation.

In any case, this discussion has been very useful: I am grateful for the link to PhilaSearch site, which I haven't used before.

regummed, reperforated and so on.. in case of the classic austria the perforations are so similar I always were in doubt when I collected them.

also, there are alot of forgery going around making MH into MNH using microwaves and so on.

so if it's a valuable stamp, get a certificate on it.