Originally Posted by Rhotchkiss
I was not at the National, but I do feel the "hobby" is healthy, and I have a theory why:
This is pure conjecture. I have no tangible basis for these statements, but I feel they have truth. Also, I realize I am making massive generalizations here.
Full disclosure, I am a Gen Xer
For Gen X and Older:
Many people/collectors in this group feel financially comfortable. They purchased homes years ago, and they have seen their homes substantially appreciate. To the extent they have mortgages, they have very low interest rates (often sub 3%). Many of these people were taught to invest in stocks, and they did. They not only invested in their personal capacity, but they opened 401ks and IRAs and they maxed out contributions. And they have seen the value of their stock portfolios appreciate substantially. These people are (or are approaching) being empty-nesters. They are done paying tuition and no longer pay for, or merely subsidize, children, rather than fully supporting them. They are making the most money they have ever made in their career, as they are in senior positions and have job tenure, yet they have fewer expenses than they have had in years. They feel financially comfortable, if not wealthy. Regarding cards, they likely have items that have appreciated a ton in their time. This means they not only have additional wealth through cardboard, but they believe in cardboard being a potential source of wealth since they have experienced it first hand.
These people are buying cards and they have money to spend.
For Gen Y and Younger:
These people are a complete 180 from the group above. They rent and do not own homes. They do not contribute to, let alone max out 401Ks, and other retirement accounts. They do not save like their parents. Instead, they spend. This does not mean they don't want to be wealthy, they do. They just don't want to go the slow and steady route us older farts were taught. They know several crypto millionaires. They know "influencers" who are making money off the internet and they view YouTubers as celebrities. To them, the stock market is a casino and meme stocks are solid investments. They are much more accepting of "alternative" investments/careers/lifestyles. They are children of the internet, who want it now and they spend what they have/make now.
These people are buying cards and they spend the money they have.
So, I think the older "collectors" have the means to collect what they love, even if at higher price tags, and to invest in expensive cardboard. The younger "collectors" live in the now, spending what they have, looking for the quick win to roll over and over and over into the "next deal". Both groups, together, are fueling the hobby and keeping it healthy.
Sorry for the long post, most (if not all) of which is likely hogwash.
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