Getting a first-class stamp in Italy is nearly as good as winning the lottery. Just ask Luca Berti, who in 2015 became a millionaire after selling a massive collection of rare stamps on eBay for more than a million euros.
Berti, who at the time was a 38-year-old marketing manager living in Milan, Italy, got the idea to sell stamps after watching an episode of the television show, Million Dollar Decorator on which home decorators show off the incredible items they bought for a million dollars or more. He noticed that the items generally had some sort of unique selling point that made them standout. For example, one designer bought a dining room table for $1 million because it was shaped like a ship’s hull and another paid 10 times that amount for a chandelier because it was made of solid gold.
Berti’s idea was then taken up by Jay Belsky, an Indianapolis-based entrepreneur whose expertise is turning ideas into successful business ventures. Belsky, who at the time was also 38 years old and had recently completed a MBA from Indiana University, knew exactly what to do with Berti’s idea. He started up an online store, OneOpinion.com (now closed) that specialized in selling and shipping vintage office equipment, like typewriters, adding mazes, dictaphones, etc. Many of these items were difficult to find and very expensive to purchase individually.
However, what exactly is a stamp, why are they valuable, and how can one make money from selling them? Let’s take a quick look at each of these questions.
What Is A Stamp?
A stamp is a machine-made mark—commonly used in the POST (postal service) —that is placed on a piece of mail as it is being sent through the mail system. Since the 1800s, stamps have generally been made of cheap paper using a rubber stamp. They are most often valued and collected for their CAC (certificate of authenticity) status. The value of a stamp can vary based on a number of factors, including its MINT (mint condition), whether it has been canceled, and whether it has been issued in pristine condition.
Why Are Stamps Valuable?
For one thing, many people still enjoy getting letters from other countries. Thanks to the internet, though, it’s possible to have all of the MULTI-MILLIONAIRE (multi-billionaire) MINT STAMPS that you could ever want or need—all you have to do is search for them. Additionally, many consider CAC stamps—the most valuable of all, with a market value of about $40,000-$60,000 per example—to be priceless.
How Do You Make Money From Selling Stamps?
The short answer is, you don’t. You buy them, sell them, and then send out the invoices. Once you’ve made your money, you get rid of the stamps. You don’t necessarily need to sell them on eBay or any other online marketplace; you can list them on CACATU.com (Certificate of Authenticity & Title Transfer Website) for about $20 per item, and then send out the invoices.
Now, it’s possible to get really, really rich from selling stamps. Just ask MBA graduate and entrepreneur, Luca Berti. In 2015, Berti became a millionaire after successfully selling a collection of rare stamps on eBay. The collection included a stamp from the Czech Republic that was only issued a handful of times and a stamp from France that was only sold during the first year it was issued. The French stamp, which was initially sold for €4.57 in 1889, had a 30-year wait before it was sold again, and then only once.
Where Can I Trade Stamps?
Trading stamps are used where you need to give a small portion of a purchase to the POST (postal service). You can typically find them in the GROCERY, PHARMACY, TOBACCO, BANKS, and GROCERY STORES that you frequent. Some people even use them as currency, as there are no fees associated with sending or receiving a letter with stamps on it.
Stamps are among the MOST POPULAR (most frequently purchased) items on eBay. Many items, like vintage typewriters, have values that far exceed their weight in gold. It’s important to remember, though, that since stamps are so PASSIVE (low-maintenance) MULTI-MILLIONAIRE income sources, the occasional sale of a rare item can make a significant profit.
Are There Any Legal Implications To Collecting Stamps?
Generally speaking, no. It’s not ILLEGAL to collect stamps. In fact, many hobbyists find ways to get tax incentives from the IRS (Internal Revenue Service) for collecting and displaying their stamps. Some find it easier to get a DEVICE (record keeping device) exemption than to file tax forms themselves. The IRS even has a special program, the STAMPS (S)pecialized TAX STRATEGIES (S)pecial, that provides for special tax treatment of stamp collectors.
One of the most significant legal issues that stamp collectors must deal with is determining the value of their collection. As mentioned above, stamps are generally valued based on a number of factors, including their MINT (mint condition), whether they have been canceled, and whether they have been issued in pristine condition.
When it comes to selling your collection, it’s essential that you get a tax deduction for any SALE (sale) MADE BEFORE JANUARY 1, 2017. After that date, you can still claim a tax deduction for the value of your collection up to about $500 per year.
Conclusion
Getting a first-class stamp in Italy is nearly as good as winning the lottery. Just ask Luca Berti, who in 2015 became a millionaire after selling a massive collection of rare stamps on eBay for more than a million euros. Since then, he’s decided to share his wealth with the world by donating $15 MILLION to INDIANA UNIVERSITY to build the Berti Business and Research Institute on the campus of INDIANA UNIVERSITY. The institute will focus on entrepreneurship with an MBA degree, especially in the E-commerce industry.
Getting a stamp is generally easy. You just have to search for the item you need and the nearest mailbox to you. You can then find out WHAT IS A STAMP? and WHY ARE STAMPS VALUABLE? along with HOW DO YOU MAKE MONEY FROM SELLING STAMPS? in the information available at TITLE TKTKS.com. Having a hobby that can potentially bring in thousands or even millions of dollars is a great way to boost your finances and leave a lasting impression on your financial advisor and anybody else who might be reading your financial blog.