41264126Plate 12
407844234271 4272 4273 4274 4296 4316 41984285 4255 4309 4365 4433443744494458445944604462446544754474448444854495449045004498449945034504450945124515451345204517452945304526452845234411 4536 4534 4535 4616 4574 4600UPA 12th Jan Plates 3-18 v1.indd 12 11/26/2015 4:41:23 PM
it does not. What happens when they come to sell?
Perhaps then they realise that only some of what
they may have glistening is ‘gold’. Indiscriminate
internet auction bidders buying 1,000’s of low price
items ... may have spent large sums IN TOTAL ...
but may not have created desirable collections. The
cost of a low priced item is the labour and cost of
selling it. Nothing changes when that item comes to
being re-sold.
TIP 5). Now let’s look at Public Auction. Yes – you
will be hard pressed to fi nd a Public Stamp Auction
that does not accept on-line / live internet bidding. As
with ‘Pure Internet’ stamp sales – and perhaps even
more so – ‘Caveat Emptor’ (buyer beware becomes
even more the mantra. Generally individual lots may
have higher average values so that lots offered are of-
ten higher value collections, accumulations or higher
value sets / singles / rarities. Such auctions are the
‘haunts’ of dealers and astute buyers ... but risk is at-
tached, plus the absence of guarantees and the per-
nicious unpleasant buyer’s premium + other charges
which at certain auctions can convert a £1000 stamp
purchase into as much as an invoice for £1,300.
TIP 5a).There are bargains to be had – but it is very
much a ‘big boys’ playing fi eld. Some of these auctions
deliberately under-estimate lots that they know are
worth far more ... so that they can then have the du-
bious pleasure of publicising that a £1,000 estimated
lot realised £10,000, when perhaps their knowledge
suggested it should have been estimated at upwards
of £5,000 in the fi rst place ... (hence – how wonderful
they are).
TIP 5b). For certain types of lots such as actual Col-
lections offered fairly intact the absence of guaran-
tee combined with unreliable estimate means that
for those who do not physically view a Public Stamp
Auction and bid ‘blind’ – this is a dangerous place to
be. Of course this may work to the advantage of an
astute bidder who is actually present to physical-
ly view lots in the auction room. Historically that
person was usually a Dealer. Perhaps less so these
days.
TIP 6). Finally we come to look at Postal Auc-
tions/ Mail-Bid Sales. First I must profess that I
have an interest in a Mail-Bid / Postal Auction Sale.
My company U P A conducts the largest postal auc-
tions in the U K ... What should the Collector or Deal-
er be looking for here?
TIP 6a). Most good Postal Auctions including U P A
offer Collectors a No Quibble Refund Guarantee
(NQRG) ... and by ‘No Quibble’ I mean NO QUIBBLE.Look for this – it is crucial. You are probably not
actually seeing the stamps before bidding ... so no
guarantee would mean unacceptable risk.
TIP 6b). Unlike Public Auctions most Postal Auctions
‘break’ many collections into smaller ‘collector-sized’
units so that you may fi nd what you seek without
having to purchase what you do not need - it follows
that most of the stamps in most postal auctions may
be owned by the company presenting the auction. It is
not viable to sell low priced lots on a commission ba-
sis. Ask yourself why you may be asked to pay a buy-
er’s premium? Is it actually a Vendor’s lot or owned
by ‘The House’?
TIP 6c). The Buyer’s Premium was introduced to ‘split’
cost between buyer and seller so that a ‘low’ seller’s
commission looks attractive (if you forget about the
premium the buyer is paying for the seller’s stamps).
Be aware of this or deal with auctions not charging a
buyer’s premium. You are in control. You can bid any-
where that you fi nd what you seek – but it is good to be
aware and informed.
TIP 6d). Prices Realised are IMPORTANT. For some
unknown reason – even some larger Postal / Mail-Bid
Auctions still do not produce lists of what their lots
sold for after the auction. Look for auctions provid-
ing this feature – it provides reassurance combined
with a trackable ‘snapshot’ of current market values
PLUS what is selling and what is not selling. You can
learn such a lot from ‘Prices Realised’ – I study them
each day.
TIP 7). Credit Cards. 75% of some auction sales are
settled by credit / debit card. The Biggest in the land
has no need to charge you for use of them ... Sheer
volume of business accesses lowest rates. Why are you
paying a premium to use your card? Is the supplier
making a profi t upon the extra % you are charged to
use your card?
TIP 8). Look for unique ‘Collector friendly’ benefi ts
that turn the disadvantage of lots not being sold to
your advantage. U P A, for example, has for the past
15 years offered their Unique Reducing Estimate
System (URES) whereby lots are increasingly re-
duced in estimate price till sold – some have reached
one penny and then sold. Approaching one million
lots have been offered through this system.
TIP 9). Cost of Delivery is one of the most annoying
hidden costs that collectors absolutely abhor. Look
for transparency in this area.
TIP 10). Beware the Seller / Auction NOT including
Insurance when sending your winnings.And Finally We come to choice ... and mind-set?
TIP Without Choice we have nothing. So it follows that you need substantial choice to form a good,
even great, stamp collection. You cannot do business when each time you ‘visit’ all you see is what
you have seen before – stagnating stocks offered at prices that ensure continued stagnation. If
choice is limited you’ll never fi nd philatelic items you need – or even that you were unaware of
their existence. That’s the joy of collecting. The thrill of the unexpected, the chance fi nd. You need
dealers that want to help and auctions that wish to serve – so, in stamps ‘attitude is all’.
So when you’re searching for a stamp auction compare it against your list above of what to
look for and if and when you’re offered a ‘No Risk Free Trial’ ... please consider – take it Now ◆85
☛ Continued from Page 77: How to Build a Good Stamp Collection?
UPA_INSERT JAN16 SCM.indd 85 11/27/2015 10:13:55 AM