Stamp Excessively Priced

[navyvetwatchseller]

I bought a book at a thrift store and discovered in between some pages an envelope with one single 6 cent air mail stamp in it. On initial research into the stamp it looked like it had significant value based on some sellers on ebay that were asking anywhere from $100 to $999 for it. On further research I discovered that it was printed in 1949 and about 5.5 billion of them were printed. The real value of one stamp is about 50 cents, if that. 

I contacted one of the sellers of the stamp, with a link to that info, and instead of altering his price down...he raised his price from $750 to $999!!.....there are others on ebay with similar ridiculous pricing....is this anything that should be reported? Or is this the classic "buyer beware"?

4

[coolections]

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@navyvetwatchseller wrote:

are others on ebay with similar ridiculous pricing.

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Yes, probably around 80,000 of them. It actually is really hurting Ebay by allowing such ridiculous prices. Buyers get frustrated and leave. Does not happen very often but sometimes someone will show up here saying Ebay removed their stale listings.

[fern*wood]

People can ask whatever they want as long as it isn't a protected necessity. 

[simba6]

Yep.  Got to to your homework before buying.  You can find great deals or get your clock cleaned.

[bamorris]

"No Low Ballers. I Know What I Got!"

Pestering sellers that their prices are absurd is not a good use of time. You're free to spend it however you wish. But they know what they have. Was the stamp an error? Printed upside down?

Air Mails typically are the more the face value the more the collector value.

But yeah, there's no eBay policy that items have to be 'fair market' priced. For all we know, the seller is just saying "See Honey, I have all my stuff listed for sale but no one is buying" and has no real intentions to let go of their prized possessions. 

It's a crazy world, I don't pretend to understand people and their decisions.

[kensgiftshop]

The seller can ask what ever price they want, there's nothing to report.

[murph1727]

I agree with you about the wacky pricing of stamps. I had some stamps that my mom had collected so I did some research. For example the 4 cent Lincoln (both purple and black) could be listed and sold from $1 to $500 and of course everyone says they are RARE but here I sit with 10 of these stamps-so no they are not rare. Just because they are old does not make them valuable. I think people say "Hey I have a stamp from 1950 so it must be worth a fortune!"

[pjcdn2005]

Out of curiosity, did you check to see what those stamps are selling for on eBay? Do a search and then on the left side of the page click on 'sold items'.

[ed8108 · Accepted solution]

It's not just some ridiculous item pricing confined to the stamp category.

I suspect most buyers on ebay have become knowelgeable to not place reliance upon an item's price as being  fair & reasonable

Research prices outside of ebay before making a purchase, appears to have become the golden rule

Don't overpay, a harsh lesson when time to sell what you have bought

[ms.rodriguez*]

A seller can set any price. You did your research so you won't get ripped off. It's up to each buyer to do research and know what they are buying.  No seller is going to revise a price based on what someone emails them. That seller probably thought you were looking for a bargain. Ebay will not bother do anything to that seller.  Ebay thrives too on buyers' ignorance.   Sometimes, sellers ask a very high price and the item never sells because the buyers know that it's wrong.   Hopefully, that will happen in the case of this particular stamp.

[xadexane]

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@navyvetwatchseller wrote:

On initial research into the stamp it looked like it had significant value based on some sellers on ebay that were asking anywhere from $100 to $999 for it. 

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That is the PLACEHOLDER technique @navyvetwatchseller 

-- temporarily raise the price, rather than end the listing and relist later, losing your spot

because the rare 6-cent stamp is e.g. on loan to the local museum, and not available for sale yet on eBay.

[navyvetwatchseller]

Thanks. Good advice. 

[navyvetwatchseller]

I checked on Ebay and Etsy....I found a new book of 10 of the same stamps for $4.95 on Etsy, that the guy on Ebay was selling for $999, for 2 very used ones. 

[ibuyoldstuf]

Yep!

"Just smile and wave boys, smile and wave!"

[shall900]

I'm a stamp collector of US stamps for over 60 years, and I'm seeing very common used US stamps from the 30's with an asking price  of in the $1000s.  These stamps normally would retail for less than a dollar each, and I know they can ask what ever they want to...  My point, Is this a scam or is this a way of surreptitiously sending money (to a country or a cause?) without it being noticed, i.e.,Ukraine?  Is this a form of money laundering?  Wondering if, when you send them $10000 for a 2 cent postage stamp what are you really receiving? I have a somewhat devious mind...