Web stamp collecting could become big business for Newcastle company
STAMP collecting could become big business for a Newcastle company which has developed new online trading software.
Data Complexity Ltd hopes to win a share of the multi-billion pound global stamp collecting market by supplying information to buyers and sellers using auction sites such as eBay.
The Newcastle University spin-out company has created data mining software capable of analysing complex data across the internet and then extracting key information.
It has won a £30,000 investment from the North East Finance Design and Creative Fund to launch a web service for stamp collectors and buyers that will enable them to get real-time information about the stamp market.
Bill Shepherd from Data Complexity said: “Using our software we can help collectors to know the true value of a particular stamp at low cost by providing real-time information on price, condition and trends in the market.
“We’re not aiming at high value stamps. These will be traded by stamp dealers in offices and auction houses as they always have. Our market is the millions of stamps bought each year by small collectors at around the £5 to £20 price that have spiraled significantly with the growth of ecommerce.
“Small collectors represent the vast majority of collectors but in the past the value of stamps bought has largely been set by the stamp houses selling them. We’ll change that by cutting out the middle man and helping to determine a true market rate.”