Tips for stamp items on auction
The most important thing about putting anything in an auction is the presentation. The display is as important as the content. The second thing is the starting price. To get the process going it needs to be as low as possible to draw in bidders. Then you need to describe it so that the auctioneer, who is oblivious to your precious items, will let the bidders know what they are getting.
When you sell stamps, bags of bulk are fine for that commodity, but for your pricey items, a nice stock sheet, well laid out works the best. Make that stamp stick out. Stock sheets work best to display stamps. Avoid having stamps on the back of the sheets, because bidders can miss them, causing your item to sell for less.
The opening bid in most cases must be the lowest possible. For the club’s annual auction, that bid must be at least $2.50. With that in mind, make sure that the item you are selling is of high enough value to warrant a start bid that high. If you have an item of significant value, you might not want to give it away for the minimum bid. What is the real value and at what price do you want to sell it? There is a price you might like for it, but do you want to sell it? To get it sold, start with a lower bid to get the bidding going. If the item is worth the price and enough want it, the price may exceed you expectation. Remember, the value of the stamp is not what the catalogue lists, but what the bidders are willing to pay.
When you list an item for auction, the tag should always contain important and thorough descriptions. The bidders will look over the items and note lot numbers, but not necessarily the description. The auctioneer, who has no interest in your item, or any other unless interested, will likely read the description and ask for bids. If someone hears that and missed looking at it they may enter the foray of bidding making for a higher gain. Again, it is visibility.
So good luck and have fun at the annual auction of the Lethbridge Philatelic Society on Thursday May 10. Entries are to be brought by 6 p.m. with the meeting and auction starting at 7 p.m. All are invited with the entries to the auction and bidding open to not just the club members, but also the general public.