FEPA News

FEPA NEWS 45 46 Developments in Philately compared with collectors from previous generations. This year, 83% of younger collectors said that investment returns were a key motivation (up from 50% in 2021); 61% said that portfolio diversification was important (up from 51% in 2021); and just over half (51%) said that they saw art as a safe haven in times of uncertainty (up from 34% in 2021). This tells us about how the new generation of collectors may relate to art as an alternative capital asset class, both now and in the future.” Despite divergences between art and philately, art being more ‘set and forget’ and philately being about detailed research and study of the medium, there are parallels within the collectibles market. While we don’t want to repeat the failed schemes of the past, we certainly don’t want to tell newer collectors that their stamps will be, or are, worthless. Without the next generation, there won’t be a stamp market. At the same time, we also don’t want to promote philately in a similar vein to the art market where it can become a “pure investment” for some people. Those individuals are not collecting for any reason relating to the art; it is in essence a financial instrument. There is an up-front cost to engagement in philately, as there is for most activities. A cinema buff has to buy a movie ticket, a fan of golf has to pay for the round, and a model builder needs to buy kits and materials. Stamp collecting is the same, but the cost per hour can make it one of the cheapest activities around. To convert those collectors into philatelists does, however, require additional spending on their part - on rarer stamps, philatelic literature, and better supplies such as higher quality albums and mounts. At this point we do not wish to discourage this spending by implying that the market will die or is already dead. A classic tale that most collectors will have encountered is the inherited collection with a conversation going somewhat along the lines of: Inheritor: I have inherited a collection from my Grandfather, is it worth anything? Philatelist: Sorry, worthless, this is a schoolboy collection. This comment, albeit accurate, completely disenfranchises the would-be collector. All it takes is a small addition of “BUT if you find this [show picture of a Penny Black] then you are looking at potentially £100-£1,000” to show the potential value that there is to be had in collecting. Which may, or may not, invigorate the new owner to go through their inherited collection, learn what it is there, and perhaps seek out the stamps that they know to be more valuable. The education behind why there is a difference between £1/£100/£1000 stamps is also crucial so newer collectors don’t overpay and become disheartened at their mistakes. Speaking to young members of an online worldwide philately society that I run, the following comments were made: – “We should promote the sales. It is one facet of the many-sided hobby of stamp collecting”. – “Money is important to all people and is substantively a way of “keeping score” in the hobby. Celebrating expensive stamps is desirable.” – “I’ve always felt there was a taboo about mentioning the value of one’s own stamps but I would love to break it. Seeing stamps with catalogue values might encourage or interest others.” Likewise, as youthful collectors care more about what it is they’re spending on, it makes the breakthrough into exhibiting harder. At 25, would I prefer to spend £475 on an international exhibition entry without a tangible return, or on new material for my collection? I think my answer is a given. Perhaps handed a ‘free-trial’ until I am 30 would draw me in, so that when I do have the disposable income to pay the exhibit fees, I will. Ultimately, the goal is to foster a sustainable and vibrant philatelic community. This involves not only attracting new collectors but also transforming them into dedicated philatelists. We can achieve this by providing resources and guidance on how to build meaningful collections, invest wisely, and appreciate the broader context of the stamps. This approach will ensure the longevity of philately, preserving its rich heritage while adapting to the interests and needs of a new generation. As we look to the future, it is clear that financial discussions should no longer be taboo within philately. Embracing the economic aspects of the hobby can empower young collectors, foster greater engagement, and secure the future of philately for generations to come.