Did you Inherit a Stamp Collection?
What should I do now?
I often hear from non-collectors that have just inherited a stamp collection or they are the Power of Attorney to an aging parent and need help. I am usually told that no one in the family is interested in continuing the collection and they just do not know what to do, where to go or how to dispose of their loved one’s collection.
So, here is our step-by-step approach to assist you in getting a collection appraised and/or sold.
1.) Go to the Canadian Stamp Dealers Association website and look for a CSDA member in your area. If you are here reading this then you have already done that and located Durbano Stamps.
2.) Contact the CSDA member to discuss the collection and the options they provide. Not all CSDA members are dealers and some may not buy all collections or travel to review them. Once you have identified a dealer (like Durbano Stamps) that you feel confident working with, then arrange for that dealer to come to the location of the collection and provide an onsite appraisal. Durbano Stamps is an active buyer and always buys collections intact – we do not cherry-pick just the better items.
3.) Most dealers will not charge for a quick appraisal provided you are local but some may charge a travel fee. At Durbano Stamps we will provide you with at least one no-charge hour to review your collection and give you a verbal opinion.
4.) After the initial appraisal, you will be presented with some options. These are the options that Durbano Stamps usually presents:
(a) the stamps are of little value and you should consider gifting them to a young niece or nephew that may be interested in continuing the collection. If that is not an option then consider donating it to a local charity or OXFAM.
(b) the collection is extensive and will require additional time to review at an additional cost to cover our appraiser's time. This is also mandatory if a written appraisal is required for Probate or Insurance purposes. If the collection requires additional time to appraise, the seller will be given some options to continue and once agreed to Durbano Stamps will respect the seller decision and act accordingly.
(c) a collection with higher value items has other options available including having it sent to a stamp auctioneer; be sold intact or having it sold on a consignment basis by using multiple sales channels including eBay and/or our Durbano Stamps webstore.
(d) the collection is of modest value and the appraiser/dealer will tender you a reasonable cash offer that considers many aspects including the scope of the collection, its age, its condition, the number of duplicates and its current saleability.
5.) It has been my experience that most collections can be appraised within an hour after which time a fair market price for the entire collection will be agreed upon. If the result is a direct, same day purchase by Durbano Stamps then our appraisal fee (if previously agreed to) is waived.
I trust that this information helps guide the non-collector in properly assessing dealers, getting appraisals, and then confidently selling their loved one's collection. If you have any questions concerning "What should I do with my inherited stamp collection" please contact Patrick Durbano directly. He can be reached at 416-407-2422 or anytime by email at DurbanoStamps@gmail.com.
Do you have an inherited stamp collection that you would like appraised? Contact us now.