King Jeroboam writes
Quote:
The motto: "education is key to collector success"
Another other common epithet thrown around is "caveat emptor" or "buyer beware."
These two go hand in hand. The more you know, the more astute and successful you will become at acquiring good material for whatever your collecting goals are.
It doesn't take a great number of "shysters" to sour a good number of people from an otherwise outstanding pass-time such as stamp collecting. Unfortunately, they are out there, taking advantage of those collectors who are not well educated. Since the don't know any better and this dealer whose "...been selling stamps since before your daddy was born...(Yes, I actually heard that from a dealer)" sounds to be well versed and supposedly knowledgeable to a new collector. After all, how could he have been in business that long if he wasn't? So the novice buys a stamp at 90% of catalog which has a couple minor problems (perf tip creases, off center) and a slight thin, thinking this is a fine deal. It was a fine deal - for the dealer who sold it - but not for the collector.
Eventually most collectors turn to something like this forum or join a club and ask other collectors what they think of this wonderful deal he got. The news that the stamp is worth at best 5-10% of catalog is enough to make more new collectors angry, at the least.
Now, if the new collector withheld buying a stamp until he had gained the needed knowledge, this would not have occurred. By READING catalogs (meaning cover to cover, not just looking at the listings), it is a start. Understand what grading means and what the prices in the catalogs represent (Scott catalog, for instance prices stamps in the grade of very fine (VF)). That means a stamp which meets the criteria is worth what the catalog states. It also tells you in the front of the catalog these prices are what you as a collector would pay a dealer for that stamp, NOT what you could expect to receive from a dealer if you were selling it. This is an important distinction.
So, to return to the original statements, becoming educated about what you are doing means you will be a buyer who is aware of the aspects of what he or she is buying, and that, my friend brings a wonderful sense of success when you add that stamp or cover to your collection which you took the time to learn about and had looked for perhaps for years...
Happy collecting!