Auction of Postage Stamps

General Auctions

• Collections of postage stamps and stamp albums sometimes turn up in general auctions. This can be an ideal opportunity to buy because other philatelists may overlook the sale. For the same reason, it shouldn't be first choice for selling a collection.

Specialist Auction Houses

• Some auction houses in the U.S. specialize in stamps, sometimes together with coins. For a list of these auction houses, go to the Stamp Domain website (see References). A specialized auction house can achieve strong hammer prices for rare individual stamps and important collections, but run-of-the-mill lots probably won't fare so well.

Buyer's Premium and Seller's Fee

• Traditional auction houses charge both the buyer and the seller for their services in the shape of a buyer's premium and a seller's fee, which in both cases is usually 15 percent, although it can be as high as 20 percent.

Online Auctions

• Because stamps cost little to post, they are an attractive item to buy and sell online. Most online auction sites have a thriving postage stamp category. Because the buyer is reliant upon uploaded photographs when deciding whether to buy, the most effective method is to auction stamps individually or in small groups rather than in large collections.

Legal Responsibilities for Vendors

• When you sell through a traditional auction house, the auctioneer is responsible for describing the lot and vouching for it to potential buyers. With online auctions, this is the sole responsibility of the vendor, so it's important to describe the item accurately and honestly.