Stanley Gibbons To Go Into Administration/Receivership

I will be sad if the shop goes but overall my feelings towards SG are negative. Historically, great, nowadays just badly positioned - poor focus on their customer base, expensive, poor website, unwelcoming shop etc.

Take this for example - and I collect Commonwealth: "This year we publish the 127th Edition of the Commonwealth & British Empire (1840-1970) catalogue" - that would set me back about £100, and differ from the previous editions only inasmuch as the fictional prices will be tweaked. So what's the point in me buying it? I don't see it serving the collector base.

With their fame and profile, they should be leading the way in the hobby, at least in the UK - as it is, I would barely consider them if I wanted to buy anything. Shame.

I agree with most of what you write. I also agree their retail business has lost touch with collectors. It has become more of a broker for high-end stamps.

However, I think here you are confusing yourself with the collector base.




That you have last year's edition does not mean others who want to buy one will want that edition.

Dealers may buy one annually, and people who thought so for the last 15 years may also want to buy a new one. They keep adding new finds if not extending the general coverage.

Hopefully, the new Stanley Gibbons will start offering a wider range of stamps again. I, however, am doubtful. Presently, they have discounted most of the GB stock by 20%. Did they do it to generate cash and buy new stock, or are they going to become even more of a stamp broker?

"Presently, they have discounted most of the GB stock by 20%. Did they do it to generate cash and buy new stock, or are they going to become even more of a stamp broker?"

or just facing reality?

They, normally, have such discounts on part of their stock. Never on a whole range.
Reality is that much of their stock is sold at the prices they ask.

SG price realizations at auction are very high. Don't really understand how they could be losing money.

Their organization is kind of top heavy, and we don't know much about operating expenses. We also don't know their cost to service existing loans.

Their 399 Strand shop cannot be cheap either.

The Strand had several stamp dealers. In the 1980s, Maurice Gale of Cameo Stamps moved to an office near the Embankment and the Strand Stamp Centre moved because of the COVID pandemic.

Nearby used to be the philatelic counter of the Trafalgar Square post office. And nearby, below the tracks behind Charing Cross Station was a market for collectables with a few stamp dealers.

The market you mention NSK is still there.
It's held every saturday morning and most dealers present are stamp dealers.
I went there only 2 months ago and had a great time.

https://charingcrossmarket.com/

I'm embarrassed to say that I walked past both entrances hundreds of times when I worked in Whitehall Place, and never realised that they hid the market!

Yesterday, the catalogue for Stanley Gibbons' auction of the second part of the Phillips Collection was delivered. As a result of the restructuring of Stanley Gibbons, all auction activities have been transferred to Baldwin's. The catalogue already shows the Baldwin logo on thefront cover, with a 'Curated by' and the SG logo in the bottom corner.

I am unsure that multi-layered business entities builds confidence with customers or investors. But I hope that SG survives this latest iteration.
Don