For experts and professional stamp dealers valuing a stamp collection - be it a few stamps or a room full of stamps can be done with a fair degree of accuracy in a relatively short period of time, the exception being cases where there are many rare or unusual items which may require extensive research or need professional expertization. Most collections do not fall into this category. Many non-collectors or novices believe that there may be rare and highly valuable stamps in a holding or accumulation of stamps. The truth is almost all rare stamps have been accounted for and are accompanied by certificates of authenticity. I have never heard of anyone finding a highly valuable stamp in a packet from a mail order company or an assortment of old stamps purchased at a low price. Many people who inherit or come across a stamp collection decide to appraise it themselves. They will buy or borrow a set of catalogues and begin to look up the values of their new stamps. Catalogues are an invaluable tool for valuing a stamp collection, but only if used correctly. If you decide to catalogue your stamps remember to study the preface first and avoid the following common mistakes. Over Valuation of Common Stamps - wholesale stamp companies sell common used and unused stamps by the pound. A pound of common stamps is approximately four thousand stamps, and costs about 15 dollars at the wholesale level. The minimum catalogue value for single stamps is about 15-25 cents. The average catalogue value of the stamps purchased by the pound is maybe 50 cents. The obvious problem here is when someone totals the catalogue value of their common stamps and arrives at a huge catalogue value. I have had numerous calls and appraisals where I was told the collection had hundreds of thousands of dollars in catalogue value of better stamps only to find a room full of common stamps. The catalogue value may have been a hundred thousand dollars but the actual value (if you could find a buyer) was only a few hundred dollars. A good rule to remember is the higher the catalogue value of a stamp the higher percentage of the catalogue value can be realized when it is sold. Misidentification - catalogues will often show a picture of a stamp, unfortunately for the novice there may be 20 or more variations of that stamp - all with different catalogue numbers and almost always with different catalogue values. The different varieties appear the same to the novice - but the expert checks for different perforation sizes, watermarks, shade variations etc. etc., these small variations can mean the difference between a five thousand dollar stamp and a five cent stamp. Grading and Centering - stamp collectors all want stamps in the highest grade possible. The grade is determined by the centering of the stamp design within the perforations and the overall condition of the stamp. The Scott catalogues value stamps in the grade of "Very Fine". The mistake the novice normally makes is when there is a collection containing early stamps with high catalogue values. The novice will believe that the stamps are worth huge amounts of money - regardless of the grade or condition. Only perhaps 5% of the early stamps are of the grade of "Very Fine" or better - the other 95% have a lesser grade and the value of these lower grade stamps are only a fraction of the "Very Fine" stamps - perhaps only 5 - 15% ! Remember, the catalogue values are for stamps in superior condition, and the high values of many of the early stamps are only high because they are rare in the grade of "Very Fine" while they might be quite common in a lower grade. Faults - Catalogue values are for stamps without faults. Faults are defects such as (but not limited to) tears, creases, missing perforations, fake perforations, thin spots, holes, stains, repairs, no gum (on unused stamps), fake gum, fake cancels etc. etc. On the lower priced stamps faults can cut the value to almost nothing. On scarce stamps the value could go down to as little as 10-20% depending in the severity of the fault. Remember, catalogue values for early stamps (the more expensive ones) are for stamps that are accompanied by certificates of authenticity from a major expertising company. © 2006. Oceanview Stamp Co. - All Right Reserved.