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I've inherited a stamp collection.
Where do I
go from here?
Many people who inherit a
stamp collection have no idea of the value of the collection or what to do
with it. The following will give you some ideas in the event you find
yourself in this position.
Collect
stamps yourself
Stamp collecting is
one of the world's most popular hobbies, satisfying our collecting instincts
and providing an insight into the history, geography and culture of the
countries whose stamps are collected. Many people find it therapeutic and
relief for stress.
For information on stamp collecting please contact your local stamp club.
Details of stamp clubs can be obtained from:
NZ Philatelic Federation, PO Box 58 139, Whitby, Porirua 5245
Phone 04 234 7218
E-mail secretary@nzpf.org.nz OR at the Federation web site http://www.nzpf.org.nz .
How
valuable could it be?
If you decide not to
collect stamps find out the value of the collection. Most collectors save
stamps because they enjoy the hobby. Collections are often built of stamps
obtained from mail, usually the most common values. As a result most
collections aren't worth a fortune. Many people overvalue stamps in their
possession. Because a stamp is old doesn't mean it's valuable. Many
old stamps were issued in large quantities. However, there have been
occasions where valuable stamps have been destroyed because collectors have
told their partners their collection is of 'no value' in order to avoid
criticism about money spent on the hobby. Collections have been disposed
of cheaply by inheritors being unaware of the value.
Stamp values are determined by:
(a) supply and demand: A stamp printed in large numbers will rarely
have much value. A very rare stamp is of little value if there are few people
wishing to buy it.
(b) condition: The condition of a stamp is very important in
determining its value. A damaged stamp is usually of little value unless it
is exceedingly rare.
Stamp catalogues are used as basis for a dealer's selling price. Because they
need to make a profit on a purchase dealers will normally buy a stamp for
a percentage of its catalogue price.
Take care
of the collection
Water, mould or insects
easily damage stamps. Don't leave the collection in a damp garage or
basement. Before you have the collection valued never remove stamps from
an envelope or postcard. Many stamps, particularly older ones, can be
worth more on cover than as a single stamp. Take the collection in the
albums, books or boxes in which it was housed.
Have the
collection valued
To be sure of the real value
have the collection properly valued. Some stamp clubs value material
or could suggest where you might go. Members of the NZ Stamp Dealers
Association (NZSDA) agree to abide by a code of ethics and will either
provide you with a realistic idea of what the collection is worth or refer
you to another dealer, collector or stamp club with specialised knowledge.
For details of members check Web: www.nzsda.com or contact:
Administration Officer
New Zealand Stamp Dealers' Association
PO Box 230001
Botany
Manukau City 2163
Ph (09) 272 4484
e-mail: earlehowe@orcon.net.nz
Disposal of
the collection
After you've found out the
collection's value your options include giving it away or selling it.
Giving it
away
If the collection has little
monetary value consider giving it to a young relation, neighbour or a stamp
club for young people. For details of these clubs contact:
Philatelic Youth Council (PYC), P O Box 2979, AUCKLAND
Web page at http://www.nzpf.org.nz/youth/youth.html
Selling it
If the collection has a
reasonable value you may wish to sell it. The major ways include:
- selling directly to a dealer;
- consigning it to an auction house; or
- sale through a stamp club
Selling
to a dealer
For most people direct sale to
a dealer is the most convenient method of selling a collection. A member of
the NZSDA will make you a fair offer for the collection or direct you to
another dealer who may be interested. It is worthwhile obtaining at least two
offers. Dealers may not be interested in buying material when they have no
potential buyer or when they are already well stocked. A dealer may be
interested in only a few items in the collection. Try alternative buyers
before allowing the collection to be split.
Selling
by auction
If the collection has
significant value the best method of disposal is by auction. NZSDA members
can advise of auction houses able to sell the material. Some larger stamp
societies also run regular auctions often specialising in estate collections.
Auctions may have world-wide clientele so you will get the best market value.
Commission, however, may be as high as 25%.
Stamp
Club sales
Where the collection
consists mainly of lower value material and the person from whom the
collection was inherited was the member of a stamp club the club may be able
to offer the collection for sale through its members.
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