- 13 -
Schmid stated that the drop in price from the primary market to
the secondary market is attributable to tremendous oversupply.
Schmid indicated, however, that these prices are not necessarily
the most accurate picture of fair market value and that many
other factors combine to determine fair market value, including
sales history and collector demand.
Schmid attempted but was unable to identify documented sales
of the Kesslers. Analyzing the demand for Kesslers, Schmid
pointed out that the demand for first day pages was much less
than the demand for first day covers. Because Schmid was unable
to identify a competitive market for Kesslers within which to
ascertain an appropriate fair market value, he estimated fair
market value using the first day cover market.
In arriving at fair market value, Schmid took into
consideration that the Kesslers do not conform to the more
popular envelope format, they only span a limited number of
years, there is no established collector following, and no past
sales history was available. He also considered that the
Kesslers are unique first day products and would have some appeal
within the overall market for first day collectibles.
Accordingly, he stated that the Kesslers would likely trade in
secondary markets for first day covers for the same period, thus
indicating a range of $1 to $2 on an individual basis and $0.35
to $.59 in larger groups.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
Last modified: May 25, 2011