Four Rooms star Jeff makes £250,000 investment in stamps

[TrueBlueTerrier]

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TELLY art dealer Jeff Salmon splashed out £250,000 on STAMPS after the Royal Mail revealed plans to hike their prices.

And he reckons he'll now make tens of thousands of pounds in profit by selling them on.

The star of primetime Channel 4 auction show Four Rooms spotted a chance to cash in earlier this year when his WIFE told him about the national postal service's proposed price rises.

And he was rubbing his hands this week after the hike was given the go-ahead.

Jeff now plans to sell the lot to companies by undercutting the price rise to net him "the easiest money of his career".

Jeff said: "When my wife Lucia pointed out the price of stamps was going to go up earlier this year, I placed an order for £250,000-worth of first and second class stamps.

"I didn't look at the price rise as a bad thing, but as an opportunity.

"It was everywhere in the newspapers and was an obvious thing to do — putting your money on a one-horse race.

"I mean, how nice of Royal Mail to give the public a window to buy them at the cheaper price before actually raising them.

"It was a no-brainer. Now they have decided stamps will go up by an average of about 35 per cent I will sell them off to a large commercial company for 25 per cent more than I paid for them.

"Whoever buys them will be getting a great deal and will bite my hands off — and I will make the easiest money of my career."

First and second class stamps will go up 14p to 60p and 50p respectively.

The price increases — the biggest for 37 years — were announced after regulator Ofcom warned an explosion in text messages, emails and social network websites was threatening the postal network's future.

The rise will add 39 per cent and 30 per cent respectively to the cost of second and first-class delivery, from April 30.

[pinstripe]

"It was a no-brainer. Now they have decided stamps will go up by an average of about 35 per cent I will sell them off to a large commercial company for 25 per cent more than I paid for them."

Does he not realise that Large Commercial Companies either use DSA (at probably far less than the 10% he is offering), or they frank their own mail.

I can see someone "famous" down the local boot fair.

[CORTINA]

A 30% INCREASE on an outlay of £250,000 is around £80,000 profit.....

Even if he only makes half that amount.... being £40,000 at 15%....

Thats around 12% more interest in a year than in any savings account...

Tax has to be paid on both .... so it leaves a very nice possible profit...

Still that how buying and selling works... buy cheap ....sell it higher...it goes on everyday.

[wally7]

Well hope the queen does not die soon then,because i am sure you can only use the stamp for about six months before they are not legal.

[foodforthought]

someone with too much money

[Wessex]

I would imagine every sub-postmaster store owner in the country will have bought some at the lower price or am I wrong on that .Certainly there will be a run on stamps, might put rm in profit for a while

[RedBagMan]

You mean a bit like "creating" a run on petrol ?

[Wessex]

Creative accounting perhaps lol

[glenfiddich]

i'd laugh if he gets a load of these