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2/3/16

POSTAL HISTORY COLLECTION - SAUDI ARABIA ARAMCO - India Used abroad stamps- Expensive stamps and philatelic used covers. - Capital Gain TAX on collectibles

RECENTLY EBAY SOLD $100,179 (one hundred thousand and 179 US dollars) SAUDI ARABIA used cover with stamps from 1934 - 1950 POSTAL HISTORY COLLECTION OF 140 COVERS FROM ARAMCO THE ARABIAN AMERICAN OIL COMPANY OF THE KINGDOM OF SAUDI ARABIA WITH INDIA USED ABROAD STAMPS.

This will be one of the most expensive used covers sold in recent history on eBay. So I thought let me  spread the news about this.

There were 2 bidders for this auction with starting price of $999,979 and sold above $100,179  So it's a great news for seller, eBay shareholder(10% commission), US tax department (IRS - 28% capital gain tax) and other tax agency (local, VAT) as everyone will get money from this auction.

Want to know more about Capital Gain Tax on collectibles items then check out my links and screenshots then keep reading this blog post.

Does value of $999,979 of this 140 postal history covers or 37 covers from Saudi Arabia is real value ?

Do any one still collect stamps ?

Do people pay this much money for postally used covers ? (Even though it's to make Forgery or BOGUS by applying rubber stamp, which we don't know whether it's exist or not).

But guess what this postal history collection from Saudi Arabia ARAMCO is for auction again.!! WHY ?

Looks like FAKE bidding. Buyer did not pay to seller. ?

Or buyer did not trust this covers  ?

We don't know what happen with transaction, but a great loss for  everyone including collector, eBay company(shareholders), US Tax department (IRS) and other state and local tax collection agency.


Not paying to seller is common practice in stamp collection to increase price by SHILL bidding and not paying to seller and cancel transaction so they don't have to pay commission to eBay.!!


Following is information from eBay, but you want to see details click following link. Postal History covers from Saudi Arabia ARAMCO.







How much US Government is losing money from capital gain tax from this kind of artifical price rigging by Shill bidding or FAKE biding transactions.

Also eBay is losing commission from FAKE transactions after providing complete infrastructure cost.

Find out more info about Capital gain tax by clicking following link from Groco.com

http://www.groco.com/readingroom/tax_saleofcollectible.aspx



One more link from Investopedia about Capital gain tax.

http://www.investopedia.com/articles/personal-finance/061715/how-are-collectibles-taxed.asp





 It's for sale again. Click following link to buy it or for more info.

 Postal History Collection  - Saudi Arabia ARAMCO used philately covers.

 If interested bid it or make offer and make everyone rich including IRS by paying capital gain tax, eBay shareholders by paying commission and of course what left is for seller.





If you like this post and want to do more research about stamps then please read my other following blog post.

Also there are lot of cheating such as Forgery stamps, Shill bidding, BOGUS philatelic material  involved in stamps collection.

Want to know more about FAKE and FORGERY stamps then checkout other blog post click one of the following link and you will be surprised.!!!

1) Philatelic FAKE and FORGERIES.
2) FAKE AERO PHILATELY Covers.
3) Stamp collection CHEATING.
4) Stamp Collection Value
5) Stamp Collecting Facts
6) China stamp collection value.
7) First AirMail Post
8) World First Flight Cover
9) Greatest Stamp Collection Scandal 
10) Biggest stamp collection SCAM
11) SCANDAL in stamp collection 
12) How to increase stamp collection value


Thanks
GSC.

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