Stamps Business is Booming

UK's Oxford Times reports, "...in these gloomy economic times, experts are suggesting stamps could be the answer and the stamps business is booming."

According to reporter Andrew Smith, the staff at Universal Philatelic Auctions (UPA) have never been busier. UPA was set up nine years ago by Andrew McGavin [shown here] who, like many children of his generation, was a keen stamp collector.

McGavin, 54, is quoted as saying “I have never seen the market this firm. While I would not say stay it is recession-proof, there are some good returns.”

He believes there are three things that are keeping stamps popular as the economy suffers.

“Firstly, many stamp collectors tend to be aged over 60, meaning they are less likely to have a mortgage and be affected by day-to-day rises in the cost of living.

“Secondly, stamps tend to hold their value over the long-term. At the moment they are seen by collectors as an enjoyable hobby with profit potential.

“Finally, the Internet has been kind to stamp-collecting. Demand is truly international and valuable stamps can be easily shipped worldwide.”

To read the entire article, click here.