Day job/budgeting for cards

[smrtn240]

Recently getting back into collecting and having discovered this fine board a few months ago, I have seen some extraordinary collections on here. Having met and talked to some experienced dealers at shows, some stating that they have collected for years and that it is there primary source of income..made me wonder how some aquired such an extensive collection. I try to budget myself with cards and do have a full time career job, but still can't see myself having such an astonishing collection as seen by many of you. Granted I'm in my 20's and getting started again on an adult collecting level, could use some tips or tricks in slowly building a nice high end collection as a possible investment while still enjoying this great hobby.

[T205 GB]

Get a second job and collect what you enjoy

[Shoele$$]

Another tip, don't take loans out to finance your hobbies. If you can't afford to pay cash for it, wait until you can. You'll be better off in the long run. You also have to remember quite a few of these guys here have been collecting for many, MANY years and a good number of these guys have acquired certain "high end" cards BEFORE the big time vintage price boom of the last 10-15 years.

Vintage cards aren't the only thing that's gone up DRAMATICALLY in value over the last 10 years. Collector/sports cars, boats, motorcycles, fine watches, jewelry, art, coins, antiques, guns etc. Anything hobby related was affected by the housing/economic boom 10 years ago. Many people around the country quickly hit the "equity jackpot" in their homes to the tune of 100's of thousands. That money was then quickly dispersed into the hobby markets by many, who all of sudden, were major players and had the funds to make it happen. The end result.....ridiculously over inflated prices on litterally everything hobby related.

Ok rant over......you get the picture. No point in trying to keep up with the Joneses, collect at your own pace.

[Texxxx]

Originally Posted by Shoele$$

No point in trying to keep up with the Joneses, collect at your own pace.

That sums it up perfectly!

[markf31]

Originally Posted by Shoele$$

No point in trying to keep up with the Joneses, collect at your own pace.

+1

I always shudder anytime someone new into the hobby mentions the word investment or the phrase "possible investment". In my mind its either a hobby or its a business/investment, it's difficult to find a balance where it's both.

[g_vezina_c55]

I buy sports cards since 1990....

[rainier2004]

Originally Posted by markf31

I always shudder anytime someone new into the hobby mentions the word investment or the phrase "possible investment". In my mind its either a hobby or its a business/investment, it's difficult to find a balance where it's both.

My wife and I literally own 3 cards as investments, ones we can afford, that were purchased with clear cut goals, long term projections, researching other competitive investments and how liquid those exact cards. Ive bid on or inquired about 10 cards or so with this as the goal...but it has to be the goal from day1. The rest of my collection is a hobby...2 completely different things, not sure if someone new to the hobby could do this and would have to agree with Mark.

As far as buying things w/o the cash - Id agree with this for the most part, but there is the other side of buying a massive lot, NOT on a cc, breaking it up while keeping some and putting the money back if youre confident in what youre selling will go for what you think it will. Ive done this 4 times...all 4 times were definitely worth it for me. Collect at your own pace is also great advice. Good luck.

[travrosty]

Originally Posted by smrtn240

Recently getting back into collecting and having discovered this fine board a few months ago, I have seen some extraordinary collections on here. Having met and talked to some experienced dealers at shows, some stating that they have collected for years and that it is there primary source of income..made me wonder how some aquired such an extensive collection. I try to budget myself with cards and do have a full time career job, but still can't see myself having such an astonishing collection as seen by many of you. Granted I'm in my 20's and getting started again on an adult collecting level, could use some tips or tricks in slowly building a nice high end collection as a possible investment while still enjoying this great hobby.

dont collect as investments, buy best quality you can afford, other people have super great collections because they can afford it. make a lot of money and then get whatever you want. otherwise save for one nice thing at a time.

dont worry about investments when you collect , collect for FUN.

warren buffet invests as good as anyone, and i have never heard of him buying cards or sports memorabilia. its too much of a carp shoot.

[Leon]

Originally Posted by travrosty

dont collect as investments, buy best quality you can afford, other people have super great collections because they can afford it. make a lot of money and then get whatever you want. otherwise save for one nice thing at a time.

dont worry about investments when you collect , collect for FUN.

warren buffet invests as good as anyone, and i have never heard of him buying cards or sports memorabilia. its too much of a carp shoot.

Don't shoot carp, they are fish too!!

[mattsey9]

Originally Posted by Leon

Don't shoot carp, they are fish too!!

Carp are people too!

[dabigyankeeman]

I use a credit card, but never let it go over $1000 balance, and when it gets near there, I knock it down to about half that or less before putting more on it.

[Shoele$$]

Originally Posted by Leon

Don't shoot carp, they are fish too!!

Lolz! Nice catch

[queencitysportscards]

I would like to think that the cards I collect will appreciate in value over time, but that is not always the case, so collect for the fun first, investments second. Pre-War has certainly appreciated in value over the last 10 plus years and one can assume that they will continue to go up or hold steady over time in value. I specifically collect vintage because I appreciate and respect the history, but I also know if I ever want to sell, I should at the very least come close to getting my money back.

I try and reward myself with a few cards a month that I am trying to get to complete my collection (I am currently putting a T206 Reds set together). I have kids, a family and a business to run, so I can't spend all my money on cards (unfortunately).

Collect within your means and don't overspend. Look for deals, search eBay and other auction sites (big and small), and stop by a local card show (if there is one near you) and look at the BST forum on Net54...I have picked up a few good finds in the last few weeks and have had nothing, but smooth transactions with various members. There are still some good bargains out there.

Decide on what you want to collect, graded cards, raw, high end etc and that will determine what your budget will be on obtaining cards.

Happy Collecting!

[cubsfan-budman]

imho, half the fun is collecting things you like/are proud of on a budget. sounds silly, but if i could buy whatever i wanted, i'd end up buying a ton of crap all at once, then i'd be bored. gathering slowly has its charms.

[jcmtiger]

Originally Posted by smrtn240

Recently getting back into collecting and having discovered this fine board a few months ago, I have seen some extraordinary collections on here. Having met and talked to some experienced dealers at shows, some stating that they have collected for years and that it is there primary source of income..made me wonder how some aquired such an extensive collection. I try to budget myself with cards and do have a full time career job, but still can't see myself having such an astonishing collection as seen by many of you. Granted I'm in my 20's and getting started again on an adult collecting level, could use some tips or tricks in slowly building a nice high end collection as a possible investment while still enjoying this great hobby.

Get into a time machine at least to the early 1970's and start buying at flea markets, garage sales and card shows.

[sbfinley]

Don't get married. I'm just kidding. But seriously...

[smrtn240]

Originally Posted by sbfinley

Don't get married. I'm just kidding. But seriously...

You know as much as I've been hearing that lately I'm beginning to believe it.. sad but true

[Cardboard Junkie]

Originally Posted by sbfinley

Don't get married. I'm just kidding. But seriously...

Don't get married. I'm not kidding. dave

[ullmandds]

I 2nd...or is it 4th the "don't get married" comment!!!

[Cardboard Junkie]

Originally Posted by jcmtiger

Get into a time machine at least to the early 1970's and start buying at flea markets, garage sales and card shows.

I agree early 70's flea markets and garage sales. I don't recall any card shows in the early seventies........maybe late seventies. dave.

[smrtn240]

Originally Posted by Cardboard Junkie

I agree early 70's flea markets and garage sales. I don't recall any card shows in the early seventies........maybe late seventies. dave.

Thanks for the tip, but I don't think this is a justifiable option

[glchen]

If you are looking to build up a nice high end collection on a limited budget, my advice is to stay focused and look for bargains. Only buy cards that you really love. If you are buying cards and then selling them again because they don't quite fit your focus, then you will be losing a lot of money along the way. Money that you could be using to buy cards. You also need to be disciplined enough to only buy cards that you really want at the right price. Sometimes you just get the itch to buy stuff. You want to see your collection grow. However, that can lead to some bad purchases. So, I would start off by making a list of cards that you would really like to own (and are realistic). Then research prices that these cards are going for in the condition that you want. Put a saved search for these cards on ebay that you can check a couple times a week or so. Then put snipes on these cards at below VCP where they would be good bargains. Putting snipes out disciplines you to only buy the cards at the right price, and not overpay or let yourself get "auction fever" where you keep bidding until you get the price, but the price is way too high. As you continually bid on these cards, you'll get a sense of what the right price for these cards are and develop more knowledge on them. If you win one snipe out of 50, you've done a good job because you're buying a card that you really wanted at a reasonable price. Obviously, as others have said, you should stay within budget and not buy cards on credit as this will lead you down a very bad slope. Good luck collecting!

[smrtn240]

great, thanks Gary I will take this into account

[Bocabirdman]

Originally Posted by smrtn240

Recently getting back into collecting and having discovered this fine board a few months ago, I have seen some extraordinary collections on here. Having met and talked to some experienced dealers at shows, some stating that they have collected for years and that it is there primary source of income..made me wonder how some aquired such an extensive collection. I try to budget myself with cards and do have a full time career job, but still can't see myself having such an astonishing collection as seen by many of you. Granted I'm in my 20's and getting started again on an adult collecting level, could use some tips or tricks in slowly building a nice high end collection as a possible investment while still enjoying this great hobby.

Find Michael J Fox's Delorean. Alot of the guys on this board can tell you, the collections that they have today would be damn near impossible to round-up and afford if they were starting from scratch. Just collect what you like and should it turn into a lifelong passion, eventually some sweet bits of cardboard will find their way into your "shoebox".

[CharleyBrown]

Not sure if this has been mentioned yet, but being a little creative always helps. Find ways that you can supplement your income and/or make sacrifices to fund your addiction errr hobby.

That way you can set a budget for cards without touching your day job income... or you can a little extra to your current budget...

[martindl]

I'm going to talk out of both sides of my mouth here.

If return on investment is your goal then research, research, research, and know your market. Then, buy the absolute highest quality items you can afford. Perhaps it's just a single item, one at a time, but buy the best. Don't settle for average. Know what quality looks like so you don't have to rely on grading companies to tell you what is good. Quality always sells, which is a truism in any collectibles market. Hold out for the best.

I don't steadfastly adhere to the-buy-the best philosophy in my own collecting habits because return on investment has never been my goal. Buying things that interest me and that I enjoy has, so while I have many average things, I have lots of them. I more hoard than collect (no focus) and I'd rather have say five different average T210's than one pristine one. I do know my markets so, while I'm sure I've overpaid for a few things relative to the market, all in all, I've made decent buys.

Have fun, that's what really matters.