Noble Spirit Auction On San But You Bid On Ebay

In all walks of life there are good honest people and some who are less so. Why would philately be any different? Ultimately its your choice but some due diligence never does any harm.

After all we all know that there are forgeries and genuine rare stamps, so an honest description is vital.

I think we need to step back and rethink some of these firms like NYSTAMPS and NS , firms like this need to buy $20,000 a month and turn around and sell this material at $30,000 a month . That is just to break even with their staff and office operation expenes . Think that over ,making a 50% profit over what they are buying at .Factor that in to sell $30,000 a month in a hobby like stamps .

These guys are in a business where I compete with them in the buying area . For me if I spend $1,000 a month and keep 10% of the purchase and sell the rest for $1,000 I am happy and enjoying it .......these guys live in a rough market place that is why they do so much shady stuff .

If you are in a market where you have to do shady stuff to become profitable, the market doesn't really exist...
It's like if you have to pay people below minimum wage, your business isn't actually viable.

Very interesting (perhaps even true) memoir/tell-all on stamp dealers and bid rigging, among other activities: http://wheelingandstampdealing.com/...ing-scandal/

Not sure if this book is actually forthcoming, but it made for an interesting read.

Xavierstripe ----A lot is missing in that story you link too . First they try to depress the purchase price and not compete against each other at public auctions but they also had to deal with bidders outside their group. That wasn't as easy as you think .Too many outsiders knew what they try to do and they got greedy with each other .

Don't buy that at all - stamp dealing is hardly a cutthroat industry where businesses are somehow forced to be unethical to keep the lights on. Companies make unethical decisions because the desire for profit or growth above all else becomes such a key part of the corporate culture that integrity is lost in the process. Other companies value integrity as well as being successful financially and also thrive. Unethical organizations are found in all industries unfortunately.

There is no excuse for "shady" dealing and I don't believe that Floortrader was making one. He makes a valid point though. Profit margins drive the decisions on how you operate. Some ebay sellers choose to prey on the inexperienced and it works for them. As Don always points out, many buyers shop by sorting lowest price first. It is of course a false economy. The best sellers have stellar reputations and build relationships. You can tell where certain sellers sit by reading this thread and others. The tone and outright statements speak volumes. And speaking of volume I believe that some sellers are driven entirely by volume and the accompanying feedback. They are creatures of ebay. They are a perfect fit. When getting tens of thousands of positives is really what drives you and ebay will assist (we know how) that is the end all, be all. In the end if buyers were not buying from the shovelware peddlers they would be gone or relegated to the sidelines. But lots of people do shop by price and shut their eyes to reality. In the end the "shady" sellers are missing the key component to success and that is reputation. You may not always be able to pay the light bill with it but it beats the feeling of knowing what you really are. Earing's on a pig and so forth.

As my (somewhat dodgy) boss said to me many moons ago when I was in sales, "desperate people do desperate things".

Knowledgeable opinions, interesting thread. My early learning included Paul's 1st letter to Timothy
"The love of money ...is the root of all evil" (paraphrased).
True 2000 years ago, still true today in my opinion.

gmot - Agree

The definition of shady dealing can be subjective and not even applied consistently by someone. It is sometimes ignored when other self-interests are involved. You see it every day in life.