Quote:
Originally Posted by Rhotchkiss
I didn’t read the article and I don’t plan to. But I can tell you that for decades I have thought of cards as an asset class. I started buying and selling cards again after law school (previously I collected from age 8-17) in order to help pay for school. Then, in 2014, once I started making some excess income, I looked at cards as a place to invest. Luckily, I believe what I “collect” to be good investments, but I certainly put money in cards a long time ago for the primary purpose of making money. My point is that cards have been an “asset class” for a long time (long before I looked at them that way). It’s just that now, many more people see it as a an asset class. The hobby has gone from a niche to mainstream, which has attracted more outside money and created innovation (fractional shares, NFTs, wax breaks) and created affiliate products (grading, card scanning apps, digital price guides, etc). It’s all a logical progression
I buy old and rare cards, preferably of blue chip players and/or sets. I have collected off and on for almost 40 years and the one truth is that the good cards consistently go up in value over time. I am conservative by nature, so I will stick to my knitting and enjoy my collection of dead HOFers
All that said, I do think prices are a little out of control and I am not nearly as bullish on card board as many. Who knows, it will be what it be. But I also believe what is good for modern is also good for vintage and that a riding ride lifts all boats (at the same time, tidal waves destroy all boats)
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I have always considered my "stuff" as an asset, whether it was a work truck, rental property, or yes, my cards, autographs and memorabilia. Just because I love "it" and may have kept it for 20 years, doesn't make me think of it as anything other than an asset.
I shit you not, I just sold some well used shirts and jeans that were 20-30 years old for the amount I payed for them originally. The buyer was a Wardrobe shopper for a film production. I was surprised, but only at the prices realized. Every time I wore them, I was always telling my wife "They don't make them like this anymore" and the market bore me out.
Over the years I have rehomed some items that didn't speak to me anymore to someone with a more advanced need, sometimes at a NET54 discount. I always introduce myself to antiques dealers and yard sale folks as a "Re-homer", I find it, I buy it, I research and enjoy it. And at some point I get it into the hands of the person it should belong to.
I would not have an IRA holding Baseball cards. But if I needed to fund my IRA, my item's would certainly become liquid if necessary.