Discussion - Member to Member Sales - Research Center
Discussion - Member to Member Sales - Research Center
Unfortunately, my stamp collecting days have been cut short by a couple of disasters at my home and numerous expenses that have incurred. My collection does not consist of exceptionally valuable stamps. The most noteworthy are nice US # 1 & 2, several US under #100 although none worth more than $350, and 100-200 country specific stamps of nice quality from Newfoundland, New Zealand, India and 3-4 other countries.
How can I sell them? Do I send them on consignment to a specific auction house? If so, can you please make recommendations? Or will the auction house make me an offer for the whole lot? If the auction house makes me an offer for the whole lot I would assume I would make much less than if I was patient for consignment auctions.
I don't want to go the eBay route selling items piecemeal. I am just too preoccupied right now with other life issues of more immediate import...
Any help would be appreciated!
Thanks!
-Charles
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Charles,people would need more information in order to suggest where to dispose of your stamps..for starters, what part of the country do you live in ? Which dealers did you purchase from ? Do you belong to a stamp club ? Do you belong to the American Philatelic Society ?
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Hi:
Sorry for the late reply. I actually live in Canada, but don't mind dealing with an American auction house. Most of my purchases were from Sandafayre, Apfelbaum (only at the beginning), & HipStamp. I was hoping to find a popular auction house that is trustworthy and interested in the type of collection I have! Anglophile, thank you for your suggestions!
-Charles
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02:51:21am
Eastern Auctions is one of the best in Canada.
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Note that putting material on consignment with a stamp auction firm is not without risks. In the last year there was a large auction firm which went out-of-business. Many hobbyists who had material on consignment lost everything; for some this ran into five figures.
It can be quite difficult to understand a firm's financial standing. There may be some type of insurance available but you will have to seek it out.
Don
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Wow. I never thought of that Don!
Kelly, I wasn't sure about going with a Canadian auction firm. Does Eastern get a lot of traffic, and are the prices in American?
Thanks,
-Charles
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Both Vance and Eastern see some pretty good action. They both sell in CDN.
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01:56:16am
Eastern is extremely popular in Canada.
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I am wondering whether selling in Canadian would mean less lucrative returns given the exchange. On the other hand, it doesn't have to go through the border!
-Charles
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Even if this topic is old, what would be the situation in US? Mystic advertises in any Scott catalog that they are the biggest buyer of stamp collections. Are they coming to my place? What kind of prices they have?
I guess that we should re-open this subject.
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Mystic will talk to you first to find out exactly what you have. If you have a valuable collection, they will probably come to you to look at it. Otherwise, you will have to send what you want to sell to their buying office in Denver, Colorado. They will send you instructions via email. When they receive the stamps, they will look them over, and send you a check, which is their buy offer. If you like their offer, cash the check. If not, send the check back per the instructions in the letter that comes with the check.
In fact, I just sent them over $12,000 catalog value in stamps for an offer to buy. A few days ago I received their check. Are you ready for this? It was for 1.8% (rounded up) of catalog value. It cost me $103.00 to send the two parcels to them. I sent the check back to them. They will return my stamps to me at their cost. Yes, I am out $103.00 from this transaction.
I did call them up and ask them why the joke offer? I was told that they can't pay much for stamps, because no one is buying stamps anymore. Stamps are a tough sell. I told the representative that they buy at 1.8% and sell at 150%, and that stamp sales are actually doing fine on the internet. I told the representative that I didn't believe her, and that I wasn't amused by this. After all, if they can't sell stamps, because no one is buying stamps anymore, why do they claim to buy millions of dollars of stamps each year?
I supposed if you just want to get rid of your stamps and get a few dollars for them, sell to Mystic. If you'd really like a fair offer, try a different dealer, or sell online, or through the APS Sales Division. You will realize a much higher rate of return.
Does this answer your question about Mystic?
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YES!
YES!
YES!
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Michael,
Was this Mystic that paid for the low amount?
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Charles, sorry to hear of tough times but you sound like you're a tough old bird-be strong, stay strong. On trying to maximize your return- if you've got your collection into a shape that could be identified by catalog numbers, have you considered posting those #'s under proper country headings right here on SOR? We have an international membership that might be interested, and many folk with specific interests.
I personally am a U.S. collector, and both our auctioneer and president are most helpful in responding to member inquiries. Drop them a personal message (see home page) to do that. (If you have U.S. inquiries, I'd be happy to respond as well.)
Good luck on your quest, and know that you have support here at SOR.
Best,
Dan C.
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AL, yes.
It was an offer, which I rejected.
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Here's what bothers me about this ridiculous low-ball offer:
- Mystic advertising states that they pay the best for people's stamps, because they have a large demand for stamps from their customers
- When asked why such a low-ball offer, I was told that no one buys stamps anymore, so they can't offer much for stamps due to the lack of demand.
- Either this is false advertising, including their mail solicitations to buy, or I was lied to by their buying department.
I have seen such offers before (even from buyers in resale stores). They figure that a seller paid, like me, a large sum of money to ship the material. Make a low-ball offer that will cover the seller's shipping costs, and throw in a little bit more for the seller's troubles of putting it all together. The thought is that most sellers won't want to be out the money that it cost to ship, so while the seller will be out the stamps and not happy about the offer, the offer will be accepted anyway (check in hand is hard to turn down).
I think that both practices by Mystic as I encountered are fraudulent. I have a mind to report this to the APS.
The other possibility is that the buyers low-ball the offer, keep (or buy at employee discount) a good chunk of what was bought, and send a few nuggets to the company. Then they sell the material on their own and reap in some good profits for themselves. I have encountered this before at a local store. I rejected the store's offer, and reported the buyer to the store's management. The manager investigated, and the buyer was fired.
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I think you are right about the buyer. They didn't used to use a buyer, they dealt directly out of Camden (NY).
Back 25 or 30 years ago I picked up some mid century modern furniture cheap at a garage sale. In talking to the people, they said they had a large collection of Civil War Patriotics (used)/ I gave them the names of two local dealers whom I knew personally. Both were reputable and from past dealings I knew they paid fair prices to non-collectors.
Mystic beat them both out on a high four figure collection.
Times change....
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This is a universal issue for all collectors. There always comes a time when the collection must be disposed of. It is my opinion that all of us need to put thought into this, for ourselves and our families.
Any significant collection presents a challenge to dispersal. We are discussing auctions or dealers above. There is a significant need for the APS and other groups to develop information and strategies. I think the discussion should be constant on this site.
I belong to a local trading group, and have access to some local dealers at stamp shows. I am now going to make a effort to get recommendations from the dealers I know. One suggestion I have made (untaken I must admit) to a fellow collector looking to wind down at the club was to reserve selected favorite areas and offer the remainder for sale at the club.
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Hello Charles: You might also try Sparks Auctions in Ottawa.....google the website and address and or phone number.They have a large internet and live auction three times a year.I have bought and sold there many times over the years with good results and have found them always to be most honest and trustworthy.Contact stephane@sparks-auctions.com
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They are supposed to be sending the stamps back to me at their cost. If it comes "COD", I won't be happy.
Funny that in my telephone interview I was asked what I had, I told them. I was asked how much I was expecting to get for the stamps, I gave them a range, knowing that they would have to look the stamps over. They didn't even come close.
I intend to keep track of these stamps as I sell them off on my own. They were all identified for ease of reviewing, so the Mystic buyer can't say that it looked like a bunch of "stuff" that was an unidentifiable accumulation of mismashed floor sweepings.
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Michael - did you use actual stamps for the $103 postage? Let us know how your items are returned....
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No, I presented the two parcels to a clerk for meter postage.
Mystic says that they send returns via FedEx ground.
I actually got a return call (after two weeks) from the buyer's coordinator. I asked if they got the notification that I rejected the offer, and was told no. I told them to prepare the parcels for return. I mentioned what I was told regarding why Mystic can't pay much (no one is buying stamps anymore). They weren't happy to hear me say that, and I started to get lines of excuses why they only offered to pay so little. I didn't want to talk anymore to them, so I just told them they were a joke, and to get ready to send it all back to me. End of call.
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02:59:23pm
I appreciate your frustration with what you feel is a low ball offer for your collection.
I would be curious about the make up of the collection. $12,000 in exclusively high value items from desirable countries in excellent condition should not generate a below 2% bid. But if it is made up of all low value stamps from wallpaper producing countries in poor condition - then it might be a generous offer.
As a part-time dealer, I have come to realize how much work goes into breaking down and selling a collection. You also have your money tied up for possibly a long time before you sell the stamps. In my case, I put all of my sales revenue after taxes back into my inventory, so I don't have to pay 2% of catalog for items.
My suggestion if you want a higher value for your stamps is to take on some of the work yourself by breaking down the collection, scanning it for sale and listing it on ebay or one of the other auction sites. You won't get a high value of catalog, but you will certainly do better than the offer you received. Another option is the APS. They have a mail option or an on-line option.
All of these alternatives miss one of the key items of selling directly to a dealer. You get immediate payment and don't have to do any additional work.
Ultimately you have to decide on the value of your time and whether you have highly desirable or run of the mill stamps in your collection.
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I do all that you suggest, which is very good advice. I gathered up a large number of world wide items that were all identified (cataloged), including many items with cats from $10.00 up to $750.00. Many MNH complete sets, souvenir sheets and singles from Canada, Western Europe, Russia, Asia, Oceania and other places. The need for a quick influx of cash was the reason for my doing this, so I did "cherry picking" from the items that I had up for sale, and waiting to be posted to try to optimize a buy offer.
I am realistic in my expectations that no dealer will or can pay me anywhere near full, or even half catalog. An offer of 1.8% is grossly inadequate for the material that I sent to them. Yes, there are some other low-valued material in what I sent, but most of it is not that.
It's all right. I'll put them back in with my selling stock and put them up for sale in the different venues where I sell stamps (not Ebay), and a new venue that I just joined today. I'll just have to ramp up my selling as it has been low-keyed for about a year due to family matters that required alot of my attention and time.
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I would let David Sundman know.
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I have considered calling him (Don).
Right now, I want my stamps back first.
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05:25:57pm
If it is good stuff, I would sell it myself also. Take out the middleman and keep the money.
It is pretty obvious from the price that they didn't really want it.
I have a neighbor who is in the concrete business. He told me that his price is based on how hungry he is for work. He low balls people when he gets booked up. The cost is the same, it is just a matter of desire for him.
Good luck
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"It is pretty obvious from the price that they didn't really want it."
That of course is another possibility. In the end, it'll mean more money for me, but it won't be a lump sum. That's Okay too.
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12:11:55pm
Hi Everyone:
Unfortunately, my stamp collecting days have been cut short by a couple of disasters at my home and numerous expenses that have incurred. My collection does not consist of exceptionally valuable stamps. The most noteworthy are nice US # 1 & 2, several US under #100 although none worth more than $350, and 100-200 country specific stamps of nice quality from Newfoundland, New Zealand, India and 3-4 other countries.
How can I sell them? Do I send them on consignment to a specific auction house? If so, can you please make recommendations? Or will the auction house make me an offer for the whole lot? If the auction house makes me an offer for the whole lot I would assume I would make much less than if I was patient for consignment auctions.
I don't want to go the eBay route selling items piecemeal. I am just too preoccupied right now with other life issues of more immediate import...
Any help would be appreciated!
Thanks!
-Charles
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Auctions
re: How to sell a collection?
Charles,people would need more information in order to suggest where to dispose of your stamps..for starters, what part of the country do you live in ? Which dealers did you purchase from ? Do you belong to a stamp club ? Do you belong to the American Philatelic Society ?
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02:56:33pm
re: How to sell a collection?
Hi:
Sorry for the late reply. I actually live in Canada, but don't mind dealing with an American auction house. Most of my purchases were from Sandafayre, Apfelbaum (only at the beginning), & HipStamp. I was hoping to find a popular auction house that is trustworthy and interested in the type of collection I have! Anglophile, thank you for your suggestions!
-Charles
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A Service Dog gives a person with a disability independence. Never approach, distract or pet a working dog, especially when (s)he is in harness. Never be afraid to ask questions to the handler (parent).
22 Nov 2017
02:51:21am
re: How to sell a collection?
Eastern Auctions is one of the best in Canada.
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re: How to sell a collection?
Note that putting material on consignment with a stamp auction firm is not without risks. In the last year there was a large auction firm which went out-of-business. Many hobbyists who had material on consignment lost everything; for some this ran into five figures.
It can be quite difficult to understand a firm's financial standing. There may be some type of insurance available but you will have to seek it out.
Don
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04:53:39pm
re: How to sell a collection?
Wow. I never thought of that Don!
Kelly, I wasn't sure about going with a Canadian auction firm. Does Eastern get a lot of traffic, and are the prices in American?
Thanks,
-Charles
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re: How to sell a collection?
Both Vance and Eastern see some pretty good action. They both sell in CDN.
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A Service Dog gives a person with a disability independence. Never approach, distract or pet a working dog, especially when (s)he is in harness. Never be afraid to ask questions to the handler (parent).
24 Nov 2017
01:56:16am
re: How to sell a collection?
Eastern is extremely popular in Canada.
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09:13:09pm
re: How to sell a collection?
I am wondering whether selling in Canadian would mean less lucrative returns given the exchange. On the other hand, it doesn't have to go through the border!
-Charles
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09:27:45pm
re: How to sell a collection?
Even if this topic is old, what would be the situation in US? Mystic advertises in any Scott catalog that they are the biggest buyer of stamp collections. Are they coming to my place? What kind of prices they have?
I guess that we should re-open this subject.
Login to Like
this post
re: How to sell a collection?
Mystic will talk to you first to find out exactly what you have. If you have a valuable collection, they will probably come to you to look at it. Otherwise, you will have to send what you want to sell to their buying office in Denver, Colorado. They will send you instructions via email. When they receive the stamps, they will look them over, and send you a check, which is their buy offer. If you like their offer, cash the check. If not, send the check back per the instructions in the letter that comes with the check.
In fact, I just sent them over $12,000 catalog value in stamps for an offer to buy. A few days ago I received their check. Are you ready for this? It was for 1.8% (rounded up) of catalog value. It cost me $103.00 to send the two parcels to them. I sent the check back to them. They will return my stamps to me at their cost. Yes, I am out $103.00 from this transaction.
I did call them up and ask them why the joke offer? I was told that they can't pay much for stamps, because no one is buying stamps anymore. Stamps are a tough sell. I told the representative that they buy at 1.8% and sell at 150%, and that stamp sales are actually doing fine on the internet. I told the representative that I didn't believe her, and that I wasn't amused by this. After all, if they can't sell stamps, because no one is buying stamps anymore, why do they claim to buy millions of dollars of stamps each year?
I supposed if you just want to get rid of your stamps and get a few dollars for them, sell to Mystic. If you'd really like a fair offer, try a different dealer, or sell online, or through the APS Sales Division. You will realize a much higher rate of return.
Does this answer your question about Mystic?
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re: How to sell a collection?
Michael,
Was this Mystic that paid for the low amount?
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re: How to sell a collection?
Charles, sorry to hear of tough times but you sound like you're a tough old bird-be strong, stay strong. On trying to maximize your return- if you've got your collection into a shape that could be identified by catalog numbers, have you considered posting those #'s under proper country headings right here on SOR? We have an international membership that might be interested, and many folk with specific interests.
I personally am a U.S. collector, and both our auctioneer and president are most helpful in responding to member inquiries. Drop them a personal message (see home page) to do that. (If you have U.S. inquiries, I'd be happy to respond as well.)
Good luck on your quest, and know that you have support here at SOR.
Best,
Dan C.
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re: How to sell a collection?
AL, yes.
It was an offer, which I rejected.
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re: How to sell a collection?
Here's what bothers me about this ridiculous low-ball offer:
- Mystic advertising states that they pay the best for people's stamps, because they have a large demand for stamps from their customers
- When asked why such a low-ball offer, I was told that no one buys stamps anymore, so they can't offer much for stamps due to the lack of demand.
- Either this is false advertising, including their mail solicitations to buy, or I was lied to by their buying department.
I have seen such offers before (even from buyers in resale stores). They figure that a seller paid, like me, a large sum of money to ship the material. Make a low-ball offer that will cover the seller's shipping costs, and throw in a little bit more for the seller's troubles of putting it all together. The thought is that most sellers won't want to be out the money that it cost to ship, so while the seller will be out the stamps and not happy about the offer, the offer will be accepted anyway (check in hand is hard to turn down).
I think that both practices by Mystic as I encountered are fraudulent. I have a mind to report this to the APS.
The other possibility is that the buyers low-ball the offer, keep (or buy at employee discount) a good chunk of what was bought, and send a few nuggets to the company. Then they sell the material on their own and reap in some good profits for themselves. I have encountered this before at a local store. I rejected the store's offer, and reported the buyer to the store's management. The manager investigated, and the buyer was fired.
Login to Like
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re: How to sell a collection?
I think you are right about the buyer. They didn't used to use a buyer, they dealt directly out of Camden (NY).
Back 25 or 30 years ago I picked up some mid century modern furniture cheap at a garage sale. In talking to the people, they said they had a large collection of Civil War Patriotics (used)/ I gave them the names of two local dealers whom I knew personally. Both were reputable and from past dealings I knew they paid fair prices to non-collectors.
Mystic beat them both out on a high four figure collection.
Times change....
Login to Like
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re: How to sell a collection?
This is a universal issue for all collectors. There always comes a time when the collection must be disposed of. It is my opinion that all of us need to put thought into this, for ourselves and our families.
Any significant collection presents a challenge to dispersal. We are discussing auctions or dealers above. There is a significant need for the APS and other groups to develop information and strategies. I think the discussion should be constant on this site.
I belong to a local trading group, and have access to some local dealers at stamp shows. I am now going to make a effort to get recommendations from the dealers I know. One suggestion I have made (untaken I must admit) to a fellow collector looking to wind down at the club was to reserve selected favorite areas and offer the remainder for sale at the club.
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04:54:26pm
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re: How to sell a collection?
Hello Charles: You might also try Sparks Auctions in Ottawa.....google the website and address and or phone number.They have a large internet and live auction three times a year.I have bought and sold there many times over the years with good results and have found them always to be most honest and trustworthy.Contact stephane@sparks-auctions.com
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re: How to sell a collection?
They are supposed to be sending the stamps back to me at their cost. If it comes "COD", I won't be happy.
Funny that in my telephone interview I was asked what I had, I told them. I was asked how much I was expecting to get for the stamps, I gave them a range, knowing that they would have to look the stamps over. They didn't even come close.
I intend to keep track of these stamps as I sell them off on my own. They were all identified for ease of reviewing, so the Mystic buyer can't say that it looked like a bunch of "stuff" that was an unidentifiable accumulation of mismashed floor sweepings.
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re: How to sell a collection?
Michael - did you use actual stamps for the $103 postage? Let us know how your items are returned....
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re: How to sell a collection?
No, I presented the two parcels to a clerk for meter postage.
Mystic says that they send returns via FedEx ground.
I actually got a return call (after two weeks) from the buyer's coordinator. I asked if they got the notification that I rejected the offer, and was told no. I told them to prepare the parcels for return. I mentioned what I was told regarding why Mystic can't pay much (no one is buying stamps anymore). They weren't happy to hear me say that, and I started to get lines of excuses why they only offered to pay so little. I didn't want to talk anymore to them, so I just told them they were a joke, and to get ready to send it all back to me. End of call.
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Collecting King George VI from all countries, and King Edward VII and King George V from the West Indies.
25 Sep 2018
02:59:23pm
re: How to sell a collection?
I appreciate your frustration with what you feel is a low ball offer for your collection.
I would be curious about the make up of the collection. $12,000 in exclusively high value items from desirable countries in excellent condition should not generate a below 2% bid. But if it is made up of all low value stamps from wallpaper producing countries in poor condition - then it might be a generous offer.
As a part-time dealer, I have come to realize how much work goes into breaking down and selling a collection. You also have your money tied up for possibly a long time before you sell the stamps. In my case, I put all of my sales revenue after taxes back into my inventory, so I don't have to pay 2% of catalog for items.
My suggestion if you want a higher value for your stamps is to take on some of the work yourself by breaking down the collection, scanning it for sale and listing it on ebay or one of the other auction sites. You won't get a high value of catalog, but you will certainly do better than the offer you received. Another option is the APS. They have a mail option or an on-line option.
All of these alternatives miss one of the key items of selling directly to a dealer. You get immediate payment and don't have to do any additional work.
Ultimately you have to decide on the value of your time and whether you have highly desirable or run of the mill stamps in your collection.
Login to Like
this post
re: How to sell a collection?
I do all that you suggest, which is very good advice. I gathered up a large number of world wide items that were all identified (cataloged), including many items with cats from $10.00 up to $750.00. Many MNH complete sets, souvenir sheets and singles from Canada, Western Europe, Russia, Asia, Oceania and other places. The need for a quick influx of cash was the reason for my doing this, so I did "cherry picking" from the items that I had up for sale, and waiting to be posted to try to optimize a buy offer.
I am realistic in my expectations that no dealer will or can pay me anywhere near full, or even half catalog. An offer of 1.8% is grossly inadequate for the material that I sent to them. Yes, there are some other low-valued material in what I sent, but most of it is not that.
It's all right. I'll put them back in with my selling stock and put them up for sale in the different venues where I sell stamps (not Ebay), and a new venue that I just joined today. I'll just have to ramp up my selling as it has been low-keyed for about a year due to family matters that required alot of my attention and time.
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re: How to sell a collection?
I would let David Sundman know.
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re: How to sell a collection?
I have considered calling him (Don).
Right now, I want my stamps back first.
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Collecting King George VI from all countries, and King Edward VII and King George V from the West Indies.
25 Sep 2018
05:25:57pm
re: How to sell a collection?
If it is good stuff, I would sell it myself also. Take out the middleman and keep the money.
It is pretty obvious from the price that they didn't really want it.
I have a neighbor who is in the concrete business. He told me that his price is based on how hungry he is for work. He low balls people when he gets booked up. The cost is the same, it is just a matter of desire for him.
Good luck
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re: How to sell a collection?
"It is pretty obvious from the price that they didn't really want it."
That of course is another possibility. In the end, it'll mean more money for me, but it won't be a lump sum. That's Okay too.
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