Wednesday, March 25, 2009

Stamps - A Recession Winner

UK's Whitney Gazette reports, "When it comes to the recession, one West Oxfordshire man is hoping that his business has got it licked."

Andrew McGavin (shown here) owns and runs Universal Philatelic Auctions and says he has seen a rise in the amount of interest shown in investing in quality philatelic material.

So much so, that his last auction at the end of February attracted more than 1,200 bidders from around the world according to reporter Chris Kearney.

McGavin is quoted as saying, "Stamp collecting looks like being one of the winners of the recession."

He went to say, "With interest rates being as low as they are right now, people look at money that is sitting in their savings, and are looking at new ways to make this work."

“I think as an investment, it is wise to spend more," McGavin points out.

“The cheaper the stamp, the less likely it is to raise in value, and modern stamps aren’t really good investments. There are too many produced. It’s all about supply and demand – if the supply meets the demand, then it will never be that valuable.”

To read the entire article, click here.
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posted by Don Schilling at 12:01 AM