Abstract
Philately, the collecting of postage stamps, is a popular hobby throughout the world. Stamp collectors’ motivations vary from the simple pursuit of leisure and recreation to financial investment and speculation. This study explores the demand for vintage U.S. commemorative stamps by examining the determinates of retail prices across alternative categories of sellers. Using regression analysis and a cross-sectional sample of the first 250 commemorative stamps issued by U.S. postal authorities, we estimate price equations for representative national dealers, regional dealers, and for electronic auction sites. The results indicate that production quantities, age, and specific attributes of individual stamp issues are the primary determinants of retail price. However, the pricing structures across categories of sellers are significantly different in a hierarchical manner indicating that dealers may successfully segment the collectable stamp market across different types of collectors but alternative explanations for our conclusions cannot be excluded without additional research.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.