Philatelists are likely to welcome the new ‘eBay for stamps’ being launched by rare stamp experts Stanley Gibbons.
The new auction-type website will have specialist tools for collectibles sellers, including heightened due diligence checks and escrow fund protection.
Traders will also be able to link their listing to the real eBay so they can reach eBay’s vast network of buyers.
"EBay alone did $400 million in stamp sales last year. Even if we can get a very small market share, it will have a transformational effect on our profitability," according to Stanley Gibbons.
The new website will be tested in April with plans to go public in the second half of the year.
The stamp company, founded in 1856 in Plymouth, has been on a roll recently. It bought collectibles auctioneer Noble Investments for £40 million in November and shied away from saying if it would make more acquisitions in future.
In addition, it is planning to open offices in Geneva, Sydney and New York.
The 7% drop in profit for the six months to December 31 to £3.8 million was put down to its investments in acquisition, new offices and internet plans. During that period sales were up by 16% to £24.3 million.
It says their business traditionally is seasonal as there are major stamp auctions held in the autumn.
