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Old 01-07-2018, 11:36 AM
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Toughest thing about buying anything is that valuations at the upper end of any market always look stupid. Every successful stock always looks overpriced. Google looked like a crappy deal at 100. I remember when Amazon was 25 and pundits were saying steer clear.

In 1999 I sold a condo in NYC for way more than I bought it for. I thought the buyers were insane. I felt guilty at the closing. That condo is now worth 5 x what I sold it for.

I then bought a house in the burbs. Everyone told me we really overpaid. One of my new neighbors drove buy rolled down car window and started mocking me for what I paid. Now of course it is worth way more.

Everything I have ever bought in my life that I was convinced I really overpaid for turned out to be a smart move. And almost everytime I went the cheap route it fell flat. (Cars are the exception, because they are always a waste of money and not an investment.)

Not saying every card is going to appreciate in value. But be careful before you laugh at the stupid price some guy just spent on a Goudey Ruth or Ruth rookie. 5 years from now will probably be higher.

Last edited by Snapolit1; 01-07-2018 at 11:37 AM.
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Old 01-07-2018, 11:45 AM
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Steve, if you could go back and read a lot of old posts, I feel the same way. I have excitedly paid record high prices for a ton of cards. And all but a few have been great buys, when looking back, with respect to valuation in the future. Even my star card, the E90-1 Young, was a record high price paid. And I couldn't be happier with it and am quite sure it is more valuable today.
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Old 01-07-2018, 12:01 PM
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As a VCP record-holder myself on a couple cards, I agree with the sentiment here. One of my hobby mentors once told me that you can't "overpay" for quality cards; you can just pay its future price early.

Of course, I don't believe that applies to all cards, or perhaps even most, but I firmly believe centered HoFers from the most collected pre-war sets should do well. And if they don't, I don't care - they deliver a ton of intrinsic value for me. My retirement is not dependent on my collection.

Edited to add: Steve, your neighbor sounds like a dick. Who wouldn't want someone to pay high in their own neighborhood?

Last edited by mechanicalman; 01-07-2018 at 12:04 PM.
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Old 01-07-2018, 12:08 PM
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Sam is a smart dude.

I recently overpaid for a PC as of 1/12018...by 8/1/2018 I bet its s deal. That's not why I buy, but I do try to buy things early that I think will sky rocket and overpaying now versus not being able to afford it later is a no brainer for me. Enjoy the hobby, its not all about the $$$.
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Old 01-07-2018, 12:08 PM
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The wealthy know that it pays to buy the best, but the problem comes in having the wherewithal to do that. The rest of us are stuck with the reverse--and more difficult--proposition: buy low, sell high.
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Old 01-07-2018, 12:09 PM
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Quote:
Originally Posted by Hankphenom View Post
The wealthy know that it pays to buy the best, but the problem comes in having the wherewithal to do that. The rest of us are stuck with the reverse--and more difficult--proposition: buy low, sell high.
Then there's the buy low, don't sell model...I like that one better.
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Old 01-07-2018, 12:12 PM
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Personally, I accept my collection as a hobby...it's a good hobby, one that should at worst be worth what I have in it. But as such I don't ever buy cards as investments. My IRA/401K is an investment. My business is an investment. My cards are a hobby. For that reason, a lot of time I end up with low to mid grade sets and am happy in them.
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Old 01-07-2018, 12:24 PM
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Quote:
Originally Posted by rainier2004 View Post
Then there's the buy low, don't sell model...I like that one better.
Buy low sell high is a beautiful thing. My experience has been that buy high sell higher is a lot more common.
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Old 01-07-2018, 12:31 PM
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Really just a variation on the old adage “buy the best house you can afford”.
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Old 01-07-2018, 05:27 PM
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Disagree with the sentiments in this thread. The way to wealth isn't via overpaying. Rather a silly notion if you ask me.
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