tag:blogger.com,1999:blog-61379575088648114.post241508116453102363..comments2024-03-27T16:36:22.976+00:00Comments on Norvic Philatelics Blog: Stanley Gibbons Guaranteed Investmenet Scheme Collapses: Guernsey arm in AdministrationIan - Norvichttp://www.blogger.com/profile/16436130277706268046noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-61379575088648114.post-35895175260566787362018-05-16T08:32:19.390+01:002018-05-16T08:32:19.390+01:00Investors in Stanley Gibbons (Guernsey) may wish t...Investors in Stanley Gibbons (Guernsey) may wish to know that a Collect Appraise Value and Store solution will be available for investors see www.guernseystampandcoinstorage.gg Jim Jamesnoreply@blogger.comtag:blogger.com,1999:blog-61379575088648114.post-72808645975266077162017-12-22T22:39:59.112+00:002017-12-22T22:39:59.112+00:00This is the first indication I have had of this pr...This is the first indication I have had of this problem. I have, however, been very much aware of the difficulties Stanley Gibbons have had launching, re-launching, maintaining and (most recently) re-launching again their on-line catalogue/personal-stamp-listing program called "My Collection". I have stayed with this despite all evidence I was only adding frustration to a large amount of work. For some reason I will never understand SG decided to move the basic database from the likes of GB Concise to Stamps of the World. In the process huge amounts of my input were turned into garbage, and the whole thing had to be re-entered from scratch (about 2012 if memory serves), and again this year SG re-issued the whole program with additional years, but no amount of begging would persuade SG they were making the same mistake all over again. Once again I am left with a garbled mess, with much data unsorted and unsortable. Many promises on what this reissue would supply were broken, and no thought at all was given to the dilemmas existing customers might be facing. Frankly I doubt there were many existing customers, and even though I was asked (and agreed) to participate in the pilot, the whole thing was forced on us without my input in practical terms. I wonder if anyone else can comment on this Stanley Gibbons failure. The only positive thing I can say is that I have not been charged for my ongoing subscription, and I have been told in an e-mail that I will not be charged going forward until the program is functional.<br /> Dave in Canadahttps://www.blogger.com/profile/04899926529114262074noreply@blogger.comtag:blogger.com,1999:blog-61379575088648114.post-90903273576354481682017-12-06T18:34:31.917+00:002017-12-06T18:34:31.917+00:00I am very interested in speaking to anyone who has...I am very interested in speaking to anyone who has a claim against Stanley Gibbons (Guernsey) Limited and I may be interested in buying their "buyback " claim. jimjames@insolvencyventures.uk. As to a class action, as an ex lawyer I don't see it really.Anonymoushttps://www.blogger.com/profile/10454833634263122323noreply@blogger.comtag:blogger.com,1999:blog-61379575088648114.post-72617976223597952742017-12-03T18:14:56.762+00:002017-12-03T18:14:56.762+00:00Couldn’t agree more, and many of us have been sayi...Couldn’t agree more, and many of us have been saying that ever since we started getting the SG Investment emails a few years ago. <br /><br />Class action, anyone?Ian - Norvichttps://www.blogger.com/profile/16436130277706268046noreply@blogger.comtag:blogger.com,1999:blog-61379575088648114.post-62695651480355911922017-12-03T11:48:42.908+00:002017-12-03T11:48:42.908+00:00I’m afraid this is all Gibbons fault and “investor...I’m afraid this is all Gibbons fault and “investors” are going to lose out big time. Stamp collecting is first and foremost a hobby. Can you make money from it? Of course if you use your knowledge and a bit of speculation. But to make Stamps an investment is both dangerous and foolhardy. The only Stamps worth “investing” in are the extremely rare and scarce examples as demand for them is always there. But the reason the demand for them is there is because there aren’t many about with some having only have one or two examples known! For Gibbons to start (from the top of my head) saying the £1 Green Seahorse is an investment is ridiculous. A nice difficult stamp and one to tuck away of course, but as an investment? Did Gibbons not learn anything from from the late 70’s, early 80’s where dealers were advertising in Gibbons Stamp Monthly claiming every stamp was investment material? Even my father got partially sucked in when the 10½p Yellow was superseded by the blue version. Adverts plastered all over GSM that the yellow is a future rarity so he bought a half sheet, thankfully the only time he did such a thing as he knew it was rubbish. (I still have it by the way, that really shot up in value eh?!). But ultimately it all went pear shaped and the philatelic market collapsed in the mid 80’s, prices were reset, “investment” became a dirty word and it should have remained so where stamps are concerned.Sir_Loinhttps://www.blogger.com/profile/13461102690172624271noreply@blogger.comtag:blogger.com,1999:blog-61379575088648114.post-86200454555538359422017-11-30T23:26:54.832+00:002017-11-30T23:26:54.832+00:00Edward Stanley Gibbons would have been mortified! ...Edward Stanley Gibbons would have been mortified! Trelantishttps://www.blogger.com/profile/04537566448394951396noreply@blogger.comtag:blogger.com,1999:blog-61379575088648114.post-3112424554172924422017-11-30T17:35:22.302+00:002017-11-30T17:35:22.302+00:00An interesting question is what happens now to the...An interesting question is what happens now to the investors who put money into the plans with the buyback guarantees. Are these investments now worthless? After all, as I understand it, the investment plans were supposed to be backed by real stamps. Is that correct? If so,wat has happened to these stamps? Are they the property of the investors? If so, will thay be returned to the investors? Or are those stamps the property of Stanley Gibbons (Guernsey)? <br /><br />If they are the property of SGG, that seems to open the rather nasty possibilty that the administrator could sell off the assets of SGG, including these stamps, in order raise funds to pay off the company's debts -- debts which are in part to Stanley Gibbons?<br /><br />Even if nothing as nasty as that is to happen, this whole matter of the way that the investment scheme was sold and managed and the manner of its collapse must surely do great damage to the reputation of Gibbons. I'm surprised that we have not yet seen any comparisons to Afinsa appearing the press, however unfair that might be.machinmaniacnoreply@blogger.comtag:blogger.com,1999:blog-61379575088648114.post-84451973483049078802017-11-30T13:10:25.848+00:002017-11-30T13:10:25.848+00:00Very sad. Very sad. marcoonihttps://www.blogger.com/profile/11464073579217192381noreply@blogger.com