Michael, I agree with you particularly around the "Countries of the world" values. To be fair, if I were valuing stamps from say, the UK, I would not use the Scott catalog for that, rather a local source, like Gibbons. Same goes for US, I see in the past some trying to use local sources for US stamps that aren't Scott, and they are frequently WAY off.
I don't think Scott is trying to provide an exact value, it's a gauge. And some people are delusional (in both directions) on the value of a stamp. I recently saw a C20 (ok so plate # single) Which Scott has a CV of $180 for Grade 100J (Of which there is only 1) and Scott doesn't include J grading values, but still, this stamp sold for $4,750 ($5,605 if you consider the full cost after 18% buyer premium added). There is no universe in which I can see a C20 single being worth that... but someone does. Does that really set the price going forward for 100J Plate # singles, or is someone just insane and caught up on the belief of a unique item's value increasing?
I've got dozens of unique items... doesn't mean they are of significant value. I think the main topic here was one I remember grappling with more then two decades ago when I became a dealer, which is just that: How do you value material? This is critical both in the buying and selling of course.
{Off topic conversation) We had been at eBay since 1994, and just recently converted to Hipstamp. I found it amusing the number of items we have sold to people on eBay that I'm now seeing on Hipstamp. This is really not a good way to do it... many of those items we had around for months or years, and someone bought it "cheap" and they think they can flip it. I've seen them as much as double our listing price, and then it sits there... in my view, buying an individual stamp this way, and trying to turn it for a profit is not really a sound strategy on this kind of material. But it sill amuses me to see people try it.
Oh, one other thought Michael, I agree also stamp values in Scott are "lagging indicators". And while there are a few hot button items, these aren't so many in a particular year. So the values vary slightly (usually not more than +/- $100) but they are at least an indicator. I mentioned Siegel power search in my other post, but if you're not going to use Scott (at least for US material) and you've not mentioned SMQ or Siegel, then where do you get your value from? (Where does the "average collector" get some sense of value?)
I marvel at the idiot scam artists on eBay who list common material (like a battered used 65) as "Rare stamp! from 1861" And the put a Buy it now or open auction price of $25,000. Personally I wish eBay would block these kinds of sellers (glad to see that Hipstamp DOES), but without something like Scott to let the inexperienced collector know that a used 65 is "worth" around $3, (And I know this is an extreme example...) how would they know otherwise if this is something they should be interested in or not?
Scott, it looks SO foolish, but I think the seller of those absolutely outrageous items are banking that someone really ignorant has $25,000 sitting around and is dumb enough to buy that ( without research) which i doubt. So since no one buys that crap, eBay likely gets no fraud complaints about it I would bet.
I hate those Ebay buzz words that the muggles throw around to make it sound like they know something. Antique Stamp, Rare Stamp, and the one I hate the most Vintage Stamp. Most of the time I just pass those listings by because I don't want to encourage the behavior.
Rene, yes, and I feel eBay has seriously damaged philately because of it. However, as Napoleon once said "Never interrupt your enemy when they are making a mistake", which eBay have stepped in, with their latest "Managed Payments" nonsense. We have left eBay, and are now present only on Hipstamp. I see lots of other sellers doing the same. eBay will be the cesspool of philatelic garbage, and collectors will leave it as well. It's been going down hill for more then a decade, when Bill Weiss and I used to work with eBay fraud, but they long since did away with that program in favor of "AI", which apparently really means Artificial Interest (in catching fraud...). I have to say, I'm much happier here with the quality of seller (and the speed of good moderators for garbage), and it's boosting my confidence in the industry again. Stay tuned, we have some AWESOME stuff coming.
Comments
I don't think Scott is trying to provide an exact value, it's a gauge. And some people are delusional (in both directions) on the value of a stamp. I recently saw a C20 (ok so plate # single) Which Scott has a CV of $180 for Grade 100J (Of which there is only 1) and Scott doesn't include J grading values, but still, this stamp sold for $4,750 ($5,605 if you consider the full cost after 18% buyer premium added). There is no universe in which I can see a C20 single being worth that... but someone does. Does that really set the price going forward for 100J Plate # singles, or is someone just insane and caught up on the belief of a unique item's value increasing?
I've got dozens of unique items... doesn't mean they are of significant value. I think the main topic here was one I remember grappling with more then two decades ago when I became a dealer, which is just that: How do you value material? This is critical both in the buying and selling of course.
{Off topic conversation) We had been at eBay since 1994, and just recently converted to Hipstamp. I found it amusing the number of items we have sold to people on eBay that I'm now seeing on Hipstamp. This is really not a good way to do it... many of those items we had around for months or years, and someone bought it "cheap" and they think they can flip it. I've seen them as much as double our listing price, and then it sits there... in my view, buying an individual stamp this way, and trying to turn it for a profit is not really a sound strategy on this kind of material. But it sill amuses me to see people try it.
I marvel at the idiot scam artists on eBay who list common material (like a battered used 65) as "Rare stamp! from 1861" And the put a Buy it now or open auction price of $25,000. Personally I wish eBay would block these kinds of sellers (glad to see that Hipstamp DOES), but without something like Scott to let the inexperienced collector know that a used 65 is "worth" around $3, (And I know this is an extreme example...) how would they know otherwise if this is something they should be interested in or not?
I have to say, I'm much happier here with the quality of seller (and the speed of good moderators for garbage), and it's boosting my confidence in the industry again. Stay tuned, we have some AWESOME stuff coming.