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Posted By: warshawlaw

Cards are semi-liquid as I define it. Will an extremely rare, high demand card sell fast for a market price? Sure. With anything else, however, which is what most of us have, you can get some money out of them quickly if you wholesale them to a dealer but it will take weeks or even months to cash out of a sizable collection at anywhere near market value. To me, liquid means you can sell the item at market instantly via a mechanism that generates an immediate enforceable right to the proceeds. If you have to take a shave and a haircut to move it fast, or you have to wait a week or more before the money is safe, it ain't liquid. Stocks are liquid. Mutual funds are liquid. Bonds are liquid. Sell a stock and it is gone at market immediately, the funds are credited towards your account immediately, and you know you absolutely will get them on settlement day because the market is designed to ensure that the funds needed are on hand (either in cash from the buyer or in the form of cash loan proceeds from the brokerage) before the buyer is allowed to bid.