4/25/17

1948 Gandhi stamp from India with overprint SERVICE sold for £500,000

I read following news  that 1948 Gandhi stamp from India with overprint SERVICE sold for £500,000.

Gandhi stamps sell for £500000

1948 Gandhi stamps sold for record Rs 4.14 crore

Rare 1948 Gandhi stamps sold in London for a record of Rs 4.14 crore

Rare Stamps From The Indian Independence Era Sold In London ...

Philately incredible: Aussie breaks record, pays $850000 for four ...

Rare Mahatma Gandhi stamps fetch whopping 500000 pounds at ...Gandhi stamp sale breaks Indian record

Read my following blog post and you decide whether this much money on stamps make sense to you.!!

http://gandhistampsclub.blogspot.com/2014/07/overprint-stamps-1948-gandhi-service.html
http://gandhistampsclub.blogspot.com/2014/09/jal-cooper-overprint-stamp-how-he-was.html

Now let's not worry about whether this is BOGUS (never exist) or FAKE and consider as genuine.


Just think how much money GOVERNMENT is getting from this kind of stamp auction.
  • Capital Gain Tax
  • VAT
Do anyone know which country is getting this TAX ?


According to me Capital Gain Tax may be somewhere between $50000 - $100,000 as this is LONG TERM capital gain tax.

It's depends on country from where owner is selling.!!

But as this stamp is from INDIA does government of India is getting any money on TAX ?

Does government of INDIA know who bought this stamp in 1948.!! ?

Also auction house will get $50000 to $100000 from just one auction of stamp!! (10-20% commission).

We know buyer is from Australia so next time when it will be sold again he/she has to pay to Capital Gain TAX to Australian government.!!

As per following image Only 13 of the 1948 Gandhi 10-rupee Purple Brown and Lake 'Service' stamps are in circulation.

What are chances of more overprint stamp don't exist.!!

What are chances of more than 13 still exist.

May be 1000 or 10000 or more.!!

God knows how many were printed.!!






So now let's get back to point.!!

Which country is getting Capital Gain TAX ?

India, UK, USA, Australia or European UNION ?

Thanks
GSC

1/31/17

How to make money on eBay - Selling stamps

Recently I saw 1948 Gandhi FDC sold for $1700 by eBay seller "peter_se26" based in UK since 2002.

Item is located in Spain.!!



There were 44 bids on this Gandhi FDC.

Do you think stamp collection is this much popular in this modern age where no one collects anything because of lot of other things to do such as facebook/twitter/instagram/snapchat/youtube, surfing internet on mobile phone and more.

But there were 11 bidders who were interested in this stamp collection.!!

Do you think eBay got commission on this transaction ?

What are chances of

  • buyer might have not paid to seller.
Do you think this is really worth $1700 ?


What are chances of


    • FAKE bidding by other stamp collect to increase price ?
    • Shill bidding by friends, relatives ?
    • Shill bidding by seller by opening another eBay id ?


    All are the possibilities when you sell on eBay so you cannot decide pricing based on selling price and you can't think that stamps are good investment.!!

    Also do you think all government taxes like VAT/capital tax/income & local taxes etc are/will be paid for this eBay selling.?

    So BEWARE of stamp collection.

    There is lot of cheating going in stamp collection to show that there is lot of interest in it. Also lot of Forgery and BOGUS stamps related items are selling.

    Thanks
    GSC




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