03 honegger philatelie Wissenswertes

Thoughts about the Market Situation 2010

During the drawing up of these thoughts in the last catalogue, thus in November 2008, dark thunderclouds in the sky showed up almost symbolising the gloomy market conditions. However, one could still not know whether this weather was simply one of usual low pressure zones or something else. But in reality and truth it progressed into a real tsumami which shook and touched all financial markets , in fact quite vigorously the entire world financial situation , as one did not experience in the last 80 years. 

If we try to reflect and analyse the current situation today, we can affirm that there were starting from the States worldwide countless bankruptcies and horrendous investment losses. In majority share losses but unfortunately not only. 

Switzerland was also suffering. Of course mostly with the shares, which were falling much quicker than one could imagine. On the other hand they rose since March 09 just as rapidly again that the previous loss is partially already caught up. These enormous fluctuations worry many investors, who do not wish to check the stock exchange pages daily with trembling fingers. 

Let us look now at the situation of philately and of course we look only at the situation of our activity working with Classic Stamps of Switzerland, issues of 1843 to approximately 1880, which have today more than ever a certain investnent character. 

We may state with a justified pride that the effects of the mentioned world financial crisis left only light „ brake traces“ all in all in our busines. One feels that many customers did not suffer at all. Naturally there are also those, who experienced certain „ wounds“ and buy today a little more carefully than before. However, if you compare the gigantic turbulences at the stock exchanges, one can state with great satisfaction that these exerted only a feable influence on the market of old Switzerland stamps. Isn’t this for us philatelists a reason to be happy and satisfied? If a hobby, which is not only carried out to keep you busy on free moments but shows also a certain investment character and gets you safely through the worst financial crisis since 80 years, then this hobby cannot be so bad! The previous extremely high sales figures returned now to a good level- in the banking world one would say“ a very satisfying level“, which makes us all very confident for the future. 
Even if people are reluctant to talk openly about the financial crisis, we hear again and again of clients, who have discovered to collect Classic Switzerland very recently and who wish to be registered as our new customers. If you talk to them and ask them what made them to take up the new hobby, then you hear very often that they are fed up with shock waves of the stock market of the last year and that bank savings or investments pay low interest rates and are not interesting. Since this the case, they prefer to spend their money for something which can give them pleasure. Something different, which they would not have to follow daily being glued to the monitor like the stock exchange report in fear that something horrible might happen again.It is also a fact- although people sustained here and there losses, plenty of money is still around. Particularly with pensioners, who enjoy spending their savings for something they really love. They spend it on more and better holidays such as going on a cruise. Others buy jewellery or others improve their home and fortunately there are those, who buy Classic Swiss stamps!
Is that a reason for euphoria? In my opinion no. If we see from time to time a price diminution and calming as we experienced it lately, then this is a desirable and an absolutely healthy development, which we all should welcome. Intelligent calculating philatelists already started to profit from more reasonably priced stock and bought plenty of these bargains. It is in the nature of our hobby that many collectors react too late to such market conditions caused by unexpected situations. When prices gradually get lower, they are still waiting for further reductions.“ It can still get lower“ they say. And if then the „ whole world“ has realised that prices have reached their rock bottom price, it is generally too late to buy because the material is no longer available or the prices are already rising again. A progress does not start if all companies have to work on the double. It starts „in the head“. Then, when the silver strip is visible on the horizon, it is a sign for better market conditions, it is high time to buy. There is saying by M. Gorbatschew „ Who comes too late, will be punished by life“. 
I am not of the opinion that we have already overcome all problems relating to the financial crisis.It is rather assumed that the economical „sky“ is still full with low hanging clouds and will not show so soon a blue cloudless sky. We will probably be faced with considerable problematic waves from the United States also in future, which will have repercusions in Europe and Asia and this will be felt probably in the next two years. If a pendulum would be strongly pulled on one side and then released, it would not stop in the middle (as we all would have hoped) but will swing around many times. The number of unemployed people of 2010 will be considerably higher than that of 2009. 
On the other hand one may also state that despite of these pleasing prospects relating to market conditions, the income of the people will generally still rise throughout the year 2010. And furthermore one can assume that inflation rises as before and maybe more. All reasons, which could release among many people a lack of investment opportunities conditions. Additional reason, which makes me think to be sure that the next year can be expected very confidently in view of Classic Switzerland material. I would like to pass on this confidence to you. Do not forget that you are active possibly in the most beautiful hobby and you can find there in fact joy and happiness all your life. To be sure of being on the right path, you must make sure to select the right collecting field- according to your budget- and then we would be pleased to help you absolutely free of charge like we are glad to have offered our help to all those clients for decades, who called us and who made good use of it.

Satisfaction with the current situation causes gratitude with me. My first thanks belong to you, dear ladies and gentlemen clients that I had the pleasure to serve you in the past year. My thanks go also to my son Markus, who edits absolutely by himself this catalogue for some years, my wife, who is always there, when help is needed in the office, my daughter-in-law, who is busy with research and documentation and also my thanks to all our relatives, who equally help where they are needed to deliver you punctually this catalogue to your home. 
I wish you a happy, healthy new year and hope that you enjoy collecting Classic Swiss Stamps with as much enthusiasm as before. 

Schmerikon, 14th December 2009


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