Stamp collector’s red letter day with website
Oct 26 2007 by Chris Knox, The Journal
A STAMP collector is launching an online stamp valuation service as part of a business which he hopes will be worth £2.25m in five years’ time.
Lecturer Peter Andras has set up OldStampPrices.com to help collectors assess the value of their stamps after becoming frustrated by hours of trawling auction sites for the information.
Peter, who is the proud owner of a collection of 40,000 stamps, has set up the business to provide market analysis as well as collection management services. He said: “I was very interested in geography as a child and stamps were one way of learning about different countries. I have built up quite a large collection but I wouldn’t class myself as a serious collector. There is a large market for stamps and although data is available, it can be hard to find it laid out in a systematic way.”
He plans to expand the business proposition to include other forms of collectable items such as coins and antiques and expects to make £200,000 in its first year, rising to £500,000 in its second year and £2.25m after five years.
The site also provides stamp enthusiasts with a forum with which to trade and exchange stamps.
As the business grows, Peter plans to bring in a small team to manage and maintain the website while he concentrates on his academic work. Peter left his native Romania to become a researcher at Newcastle University in 2000 before becoming a lecturer in computer science in 2002. He became a reader at the university in 2005 and is currently pursuing his professorship.
