Wednesday, December 12, 2007
I was looking at new lots posted on E-bay, and was shocked by what some people think stamps are worth. For example, take a look at this lot. I assume an early usage of a new stamp deserves a premium over a typical FDC, perhaps even 3-5x the valuation. But, in this case, the seller is asking for about a 1000x premium. What is the point? Israel stamps over $1000 rarely sell on E-bay, and a stamp over $65,000 seems to have no shot. I will track it to see if it sells, but I doubt it will. The seller paid $4.80 to list the item for sale. Is he throwing his money away? The same seller has listed some miscut ATM stamps for $7000. Again, I believe these have no chance of selling. I would just like to know what he is thinking by listing his items at prices that have no chance of being met. Is it just advertising?