“Large Print Snake Year Stamps have decided to go platform diving, plunging almost 30% in market price.” This is what blogger “Chen C’s Stamp Album” wrote yesterday in an entry. When the stamp set for the Snake Year came out on January 5th this year, bringing boundless joy to stamp collectors. But this excitement was not to last, as the snake stamps was condemned to a fate of “platform diving”, dropping 100 RMB in price over the course of 10 days, giving collectors reason to be anxious.

Snake Stamps and Commemorative Coins Dive Together

This reporter saw on Yichen yesterday that, even though the snake-adorned zodiac stamps were still selling, their deflation in price is nothing to be scoffed at. The price of the large print snake stamps was reported as 270 RMB yesterday, compared to its peak at 390 RMB, dropping 31%; the small print stamps were reported as 85 RMB, as compared to its peak at 120 RMB, dropping 29%.

In the beginning, the snake stamps which boasted of “running (out) faster than the zodiac dragon” surprised many collectors. But as the initial hype died down, the results yielded by the new stamps let down a portion of collectors who had invested in them, expecting high returns. Many businesses ridiculed the set, calling it a “net loss”. Experienced collectors who had stayed away from the snake stamps have since been praised as having great foresight.

This drop is reflected not only in the stamps, but also the commemorative Snake Year coins that have been released into circulation. Since it’s release on January 9th at around, 16 RMB, the market price for the coin has dropped by 50% to just 8 RMB.

Though Prices Drop, Outlooks Differ

Businesses are having a difficult time adjusting the prices of their stamps, due to how rapidly they market price is falling. Prices for the 2013 Snake Year commemorative coins on Taobao were reported to vary greatly, from as high as 19.5 RMB to as low as 7.35 RMB. Sellers who listed their prices on the upper end of the spectrum are feeling pangs of regret. One collector lamented, “The shipment had only just come in yesterday, and already their prices have fallen!”

Though many collectors have been disappointed by this development, some are still optimistic, believing that it is still too soon to give up on the new zodiac stamps. In contrast, prices of last year’s large print dragon stamps on Yichen grew to around 375 RMB, fifteen times the stamp’s nominal value. “Last year’s stamps also had its ups and downs, falling several times from its peak at 400 RMB, and yet it’s fine now, is it not?”

Star City Dealers Afraid to Stock Supply

Regarding the dismal performance of this year’s stamps, Lu BoXiong, stamp expert and vice-chief of the Hunan Collections Association, says the industry has yet to full recover from the adjustments in 2011. Yet, the price of the snake stamps suffered inflation as a result of large amounts of hype. “The opening price of 300 RMB is already higher than the dragon stamps’ 160 RMB,” he says, “so it has already consumed much of its room for growth. This fall is simply the feedback from the high starting price.”

Due to the price scare, Star City stamp dealers, in an attempt to avoid getting into trouble, have foregone stocking up. One Star City insider revealed, “There is no stock. If anyone wants some, they are shipped in. When someone asks for the snake stamps, an order is immediately placed with others in Beijing and Shanghai, and the product is shipped can be shipped in by the next day.”