Stamp auctions are gateway for philatelic traders and a way for stamp collectors to sell or buy stamps from a variety of stamp collections. Stamp auctions are generally just like simple auctions as it only involves stamps. An auction is the procedure of selling or buying by means of placing them up for bids, and then selling them to the highest level bidder. What will you normally notice at stamp auctions are different covers, stamps, and other philatelic related material.
Stamp auctions are generally hosted and managed by stamp professionals or dealers collectibles. Stamp auctions basically allow their users to view items before it is offered up for bid in the market. The higher bidder gets the privilege to buy the item. Stamp auctions are divided into two categories
· Mail sales: this is where bids are sent and accepted via e-mail
· Public sales: this is where bids are sent and accepted in public or on telephone
Stamp auctions allow their users to set up their own stamp prices and bids level to buy and sell different stamps. There are 3 major characters you will see in stamp actions
· The consignor
· The bidder
· The auctioneer