From collecting stamps to selling stamp collections, money is to be made from those committed to dealing with the stamp collection process. Whether it's from a US stamp collection or it is an international stamp, to a stamp collector, what you hold may be just what he or she is looking for.
Stamp collection value is a recommended price scheme, but what accompanies that is the perceived value that the consumer places on the item. Rarer stamps are held to a higher value than common ones, and finding prized pieces takes time, research, and often a cash investment to secure the piece either for yourself or your highest bidder or best customer.
If your intention is to start your own stamp collection business, then the tricks are to:
1. Build your inventory and increase your product knowledge.
2. Create a web presence. If your budget is tight, consider consulting with a college student on the design and implementation of your site. If you can afford it, consider hiring a professional.
3. Develop a marketing plan based on your budget. Consider trade magazine ads or purchasing search engine priority for your stamp collection business.
Familiarize yourself with the stamp collecting hobby
Be informed about the stamp collecting industry before you get your feet wet as a business person. You want to have a grasp on the collector's expectation of a dealer and also to be as knowledgeable as possible about your inventory and other stamp collection news.
Be knowledgeable about stamp collection values
As a business person, you will be dealing with stamp collectors on both ends of the spectrum. You will be both buying and selling from them, and you want to make sure that you are not overpaying your provider or undercharging your client.
Consider stamp collection appraisal
Find out your stamp collection value through a stamp collection appraisal.
- Find out about your target consumer by attending stamp collection seminars, workshops and conventions. You'll also have the opportunity to network with other dealers as well as pick up potential source contacts.
- Consider selling stamp collection ancillary items through your business as well. Collectors need someplace to safely store their collections, and you should be the one to provide them that.
