Quote:
Originally Posted by Seven
I know hate is a strong word, but I really hate the idea of Wall Street recognizing the hobby, and people considering cards some type of asset class. Don't get me wrong, I am happy for the people who make a living selling cards, but the commoditization of our hobby, really rubs me the wrong way. The concept of buying "shares" of a high graded card completely defeats the purpose of collecting in the first place in my opinion. Most of us collect because we enjoy the history of the game. I'm not saying that there shouldn't be high dollar cards, scarcity definitely drives the vintage market, I just wish the concept of a "portfolio of cards" as if they were a company, existed. Might sound a bit like an "old man yells at cloud" rant, because it probably is, but that's just my opinion.
|
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)