Too Good To Be True? Nystamps US Stamp # 2 Mint Og H $35000

Hi all,

While browsing through ebay (I was recently introduced to ebay by my son), I came across the following:

https://www.ebay.com/itm/nystamps-U...LH_Auction=1



Pardon my ignorance, but why would such a valuable stamp be offered on ebay with a $0.01 starting bid? Am I missing something here?

Unless it is not mint to begin with?

There's still a good 15 minutes to go, and it is already at $2,700.

*** Moved by Staff to a more appropriate forum. ***

This seller has something of a reputation, and it is probably not mint anyway. If it was, the seller knows more then enough to get a cert and sell it through a major auction house.

You are right to be skeptical and the points that make you skeptical are good ones. You can use the SCF search for topics regarding NYStamps. My take on this stamp is that it is used with a lightened cancel. It will never receive a good cert as mint and should never be purchased without a cert especially on ebay from any seller. Period.

Infamous dealer of mis-described stamps. With this stamp I would question whether or not it is truly a unused, mint stamp. Also believe them when they say in their listing "Some stamps could be expertly restored, regum, or repaired."

Buy from quality dealers and expect to pay for quality stamps if you want a good collection that will retain its value.
Don

Prexie3c

Cancel removed is my vote.

This is why I'm trying to migrate over to SANs system this year. I believe ebay promotes fraud by deleting legit negative feedback on FAKES and hidden flaws sold by this vendor and others. So browse away on your ebay phone app as it is fun and easy (unlike SANs) but I suggest you only bid with personally trusted sellers or bonified APS Dealer (ASDA Dealer status is worthless in my view).

In my opinion there are some very good sellers on ebay, you just cannot buy into the myopic ebay marketing 'buying sight unseen from unknown people is a good idea'. Instead, invest time and effort into learning which are the quality sellers. The OP 'Too Good to Be True?' question shows good common sense thinking. Good dealers know what quality material will bring. If anyone had a fault-free, mint #2 would they list it on ebay?
Don

Lightened cancel... but the image is crap, so the brown/beige hues I'm seeing may be artifacts of the imaging process.

The high bidder is a newbie based upon their low feedback and has 42% activity with NYStamps in the 19th century US catalog. It is a familiar pattern. They just paid overpaid by well North of $2000 for one stamp. It is shameful on many levels. I can just imagine what else they won and what they paid. Lots of lessons to be learned here but this horse has been beaten to death on SCF.

Washed out cancel.....

Rogdcam

Interesting observation on final "winner." There must be a very predictable parade of unknowing new victims falling into this trap each month/quarter/year that NYS and their likes on ebay are bottom feeding off by pushing FAKES and undisclosed/hidden flawed materials. It's like watching an accident in slow motion in front of your eyes and you are helpless in stopping it. This hobby deserves better! Sorry, I know this topic is very well documented on this site. #BoycottNYS

Unfortunately, dealers who just sell stuff and hope it sticks (aka doesn't get returned) have been around forever. While the internet ( ebay) has enabled more of it, one can also argue that its more visible now than it used to be, pre-internet. We didn't used to be able to see and critique so many individual stamp transactions pre-ebay.

Thanks to all for the invaluable comments.

I see the dangers of purchasing high-value items from ebay. As usual, it is buyers beware. I spent a good part of the day reading the threads on NYStamps and the cartel as well as their shameful practices. Extremely useful reading and education on what to look out for and what to avoid when buying on ebay.

My son got me onto ebay so that I could hunt for more Prexie 3c covers. I have been buying from dealers at stamp shows all along but this is no longer possible now that I am in Singapore, so getting onboard ebay could be helpful. Prexie 3c covers are pretty cheap so the possibility of me being fleeced is quite small, but if ever I am not sure, a question on this forum will go a long way for me.

What surprised and saddened me most was the fact that many buyers actually bidded on and paid huge sums for NYStamps' questionable/flawed items. Did they actually believe they were going to get the real deal with all the red flags waving and alarm bells sounding at them? And I wonder how many buyers actually sent the stamps for expertization when they received the stamps. More likely a self-congratulatory pat on the back for scoring a bargain and straight the stamps go into their albums? Then when it is time to sell the stamps, they will be in for a rude shock.

It is called 'trolling for suckers'.

ebay sells hope and unethical sellers know this. So some sellers play the listing game very well, seeking to take advantage of ebay's 'buy things sight unseen and from people you don't know half way around the world' marketing. NYStamp has it down to a science and has built a very large number of people who use them. Start everything at a penny, make crude repairs on thinned stamps and show low resolution images of the backs.

In my opinion catalog publishers facilitate some of this too; the out-of-touch catalog values only feeds buyers into thinking they are getting 'deals'. I think you are correct; many buy these low quality stamps, never look closely at them when they get, mount them up in their albums, then feel great about the 'deal' they got and how much they are astute buyers.

Quality dealers then have to listen to family members accuse them of 'ripping them off' when they try to tell them the value of a bunch of low quality material that has little actual value.

This damages the hobby on many levels but hey, NYStamps is doing great. It is frustrating to me when good hobbyists will hold their nose and will still support dealers who damage the hobby. Yes, a person can navigate the sea of crap and make a good buy for themselves, many just write it off with a 'buyer beware' perspective.

Education is the only weapon in this battle. There always has been and always will be sellers and venues which will take advantage of the inexperienced and unwise. There will always be another Philip Ryle or NYStamps waiting in the wings.

It is important that we share information on the quality sellers and dealers. It is important that we dispel the ebay marketing scams like their feedback system. It is important that we educate folks to learn as much about the people they are buying from as they do about the material they are buying. It is important that we educate people on how to build a good online business relationships.
Don

In answer to the original question (and with acknowledgment of the points that have been made regarding this seller), nystamps starts all of their auctions at $0.01.

Buy from dealers on ebay with a history of running brick and mortar stores. Reputable auction houses on ebay are also fine.

Anthony's is a brick and mortar store that displays the ASDA logo and one can search on SCF for their history and issues. Not exactly stellar commentary and experiences. No, brick and mortar is not an indicator of fair trading and honesty by a long shot.