I feel for the Millennials. I was lucky enough to become aware of vintage cards as a kid in the late 1970s and to go to shows every weekend and collect prewar cards in the early 1990s when I was just out of school, still living like a student, but had a job that left me a lot of disposable income, so most of my valuable cards have been with me for decades. Most in slabs were self-submitted. As an Exhibit collector I also got lucky with some purchases in the late 1990s and early 2000s when I thought that Cobb, Gehrig, Johnson and Ruth were underpriced and bought a bunch of them. I honestly don't think I'd have the stomach to pay the prices of some of those cards today. Don't get me wrong, I am thrilled that cards I own have risen in value so substantially, but I have trepidations spending $500 on a card, so I get real indigestion over a four-figure purchase, which is where so many prewar HOFers are.
All that said, I don't know that I would sell cards that are stagnant and plow the money into cards that have skyrocketed of late. I might instead sell off as much as I wanted and establish a cash reserve either to go after well-priced auction lots or to buy on the downturn when the economy craps the bed again. Patience in this regard may be the real virtue.
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