Funding your hobby...

[jchcollins]

Does anyone actively look to "buy low, sell high" with stuff online or elsewhere in order to make cash on the side to fund your hobby? I've had the inverse of that equation down for decades now, :-) but seriously. Increasingly I think this may be something I would have the ability to do if I could be disciplined about it. I've just never approached buying cards with that mindset. (Normally my style is more of the "buy now, figure out how to fund it later..." variety).

If so I would be interested in any specific pointers, thoughts folks have. I know for example waiting out auctions at deals over high-priced Buy-It-Now's would probably be one tactic.

Thanks.

[gonzo]

Depending on exactly what you collect, you could buy lots from which you only need/want a few cards, and part out the rest of the lot individually. In some cases, you can essentially get the cards you wanted for free, or nearly so.

[Ricky]

I just sneak money out of my wife's purse...

[Peter_Spaeth]

Keep in mind paypal transactions are now reported to the IRS, in case that's a factor for you.

[ALBB]

I think many guys stay glued to Ebay in that hope of - Wow, I steal that ..and I can turn it around for a profit. Most times when you add the shipping and now this annoying" state sales tax "or some other add on.....it doesnt work out..especially when - after all is said and done..that 57T Drysdale which cost you $ 29, you barely sell it for $34 a month later !


Also, when an item it bought off ebay..and then attempted to be sold on Net54....dont you think most passionate collectors have seen it..maybe even bid on it

[jchcollins]

Originally Posted by Ricky

I just sneak money out of my wife's purse...

I wish. Right now my collection is kind of a revolving door. Essentially the only "new" money I spend on cards each year is Christmas and birthday money, things like that. There is certainly no category in the family budget for my card habit. If I splurge on something later which is not tied to that, I usually have to wind up selling something from my collection to make up the difference. This actually usually works out; I sometimes tire of certain things and it keeps my interest in the cards new and usually somewhat varied.

[jchcollins]

Originally Posted by Peter_Spaeth

Keep in mind paypal transactions are now reported to the IRS, in case that's a factor for you.

Yeah but only if over $20K or more than 200 payments in a year, I think.

[packs]

I always keep an eye open for a deal. I buy cards all the time that I have no interest in but am able to pick up on the cheap for resale only.

[x2drich2000]

It is definitely possible to do. The big question is how much time and effort do you want to put into it and how long are you willing to hold an item to get the price you want. I believe knowledge and patience are the keys. I'm a firm believer you could make money selling 88 Donruss, if you buy them at the right price.

DJ

[Ricky]

Originally Posted by jchcollins

I wish. Right now my collection is kind of a revolving door. Essentially the only "new" money I spend on cards each year is Christmas and birthday money, things like that. There is certainly no category in the family budget for my card habit. If I splurge on something later which is not tied to that, I usually have to wind up selling something from my collection to make up the difference. This actually usually works out, I sometimes tire of certain things and it keeps my interest in the cards new and usually somewhat varied.

I get too attached to my cards to do this, even though it's a smart way to operate. If I sold any of my vintage cards, as soon as I did, I know I'd want them back...

[thatkidfromjerrymaguire]

Great question John. I've bought cards strictly for resale a couple times, but I keep coming back around to just trying to enjoy my cards without over thinking the profit side of it. Trying to buy and sell cards for profit suddenly starts to feel like too much work

That's another cool aspect about this hobby...you absolutely CAN use it to generate a little extra cash, and it appears that there are some people on this board that are making a living out of it. And that's awesome!

But I've realized I personally have more fun acquiring cards I like in slightly lesser condition to look at them in my albums, research the players, etc. I do try and be sure not to overspend on the cards I buy, because I'd love to be able to at least sell my cards for near the same price I bought them if I ever quit enjoying them.

[thatkidfromjerrymaguire]

Originally Posted by x2drich2000

I'm a firm believer you could make money selling 88 Donruss, if you buy them at the right price.

DJ

Haha...I'm pretty much with you, however I don't think anyone in history has ever made money selling 88 Donruss (except maybe my local card shop owner circa 1988 selling me boxes of that stuff at full price when I was chasing that Roberto Alomar Rated Rookie and those Diamond Kings).

[Vintageismygame]

I picked up a property management client on the side that pays north of $3k/month. I might have 15 hours a month invested in actually being at the property.

I fund my Roth IRA first, put $10k in my regular investment account and the rest is spent on my choosing (aka cardboard).

[DHogan]

My father in-law accused me of stealing my wife's money. He knew I collected sports cards. I told him that's how I pay for my card collection. He likes me a whole lot less now.

[Luke]

If you understand the market for the items you collect extremely well, you can start doing this today. You just need to know instantly when you see something what it's value is. If you don't know any sets/issues/players, etc this well, then you either need to spend a lot of time studying, or just decide to not worry about it. I'm sure there are tons of people on the board who keep their eye out for things they collect and occasionally buy something they don't need just because they come across it and it's a good deal.

[swarmee]

Originally Posted by jchcollins

Does anyone actively look to "buy low, sell high" with stuff online or elsewhere in order to make cash on the side to fund your hobby?

This is exactly what COMC is for...
For example, I just bought 15 nice 1962 Topps Mars Attacks cards at $10 each and expect them to resell between $25-30 each. Then I'll buy a Mantle I need with the profit.

[AGuinness]

I've primarily funded things the same way, year-end bonuses, gifts, etc.
After I got back into the hobby, one thing that appealed to me was buying some of the important cards that were big when I was growing up but could never afford. Part of my idea was that I could potentially hold them for a while, sell at a profit and put the money back into other cards. And at times, it worked nicely - other times, not so much.
One of the cards I got early on was a T206 Speaker (Sweet Cap back), which opened the door to learning a whole lot more about T206s and pre-war stuff. That made me rethink things and started me on my T206 journey I'm still on now. I sold that first Speaker to help with my T206 project (not done yet!), and now I find it challenging to put the money I get from selling stuff into other cards I plan on selling because my PC has so much stuff I want to fill in.
A couple quick thoughts:
COMC is a great place to flip and learn lessons about flipping. I've tried various strategies (modern rookies, autos, slabs, buying wax, etc.) and figured out a few things that I prefer. While I've made plenty of dumb mistakes, I've also learned a lot and been able to cycle through funds there, reinvesting some and using some for purchases. I haven't put in any money in years, but have bought plenty of cards that now reside in my PC.
One of the biggest/best pieces of advice I took to was to buy things that you'll appreciate or like even if they lose value. In other words, if it's something you end up not being able to sell for bupkis, but you still can enjoy, that's going to be a good buy no matter what.
I do think that selling things helps with buying things, as the process helps build appreciation for what attributes matter most, certain downsides to specific cards (such as common print defects that might not be calculated into a grade) and in knowing the cost and work going into a sale.

[mechanicalman]

Personally, I find that putting my time and energy into non-baseball card ventures affords me more disposal income to spend on baseball cards.

[vintagetoppsguy]

I'll buy anything that I think I can make a profit on. I have several different selling platforms - eBay, neighborhood website, bulletin board at work (we have 5000+ employees), Craigslist, etc. That's how I fund most of my card purchases.

Anybody need a Chi cordless curling iron? I just picked up a lot of 10 brand new in the box. Seriously.

[BeanTown]

When investing, its always good to diversify and put your money in something you have a little knowledge about. Its always good to invest in yourself than other people companies. Do your research, ask questions, and keep buying cardboard I say!

[Rhotchkiss]

Originally Posted by Ricky

I get too attached to my cards to do this, even though it's a smart way to operate. If I sold any of my vintage cards, as soon as I did, I know I'd want them back...

This x10

[Throttlesteer]

Originally Posted by Peter_Spaeth

Keep in mind paypal transactions are now reported to the IRS, in case that's a factor for you.

That explains 5he guys in black suits in the blacked out Suburban parked across the street from my house

[bmattioli]

I metal detect, scrap metal, turn in cans and bottles etc.. anything to make a buck for my Flea market hunts from Apr-Dec.. I'm in redraws..

[Rich Falvo]

I try to stick with only spending money that I earned from selling off other stuff. Not always successful. I’m getting better at selling stuff from sets that I will never finish or stuff that I never take out to look at. I’ve been selling most of my coin stuff to fund baseball cards because I’m enjoying the cards more.

[Jobu]

Ryan, I am going to request one exemption.

Originally Posted by Rhotchkiss

This x10

[savedfrommyspokes]

I have built my entire collection off of buying/selling for a profit. My comment to anyone considering this method to fund their collection is I realize the greatest profits from sellers I regularly buy from.

[JollyElm]

Virtually every single card I buy is bought 'knowing' I could turn a profit on it were I to sell it...but, let's be honest, I know for damn sure that I am wrong with regard to 99.9% of them.

[hcv123]

The more knowledge you have about it, the greater potential there is to profit in it. I have gone through periods of only funding my collection through sales from it and other times where other monies have been added. I regularly say - there is nothing I own materially that I would not sell (some things that there may not be anyone willing to pay the price at which I would sell it - hence leaving them a part of my collection till then). Many of the items that I collect are in pretty short supply (think between 1 and 20 known examples). I have owned some for a bit of time and in no hurry, only sell when a buyer is willing to meet my price (or close to it after a bit of haggling).

[jchcollins]

Originally Posted by ALBB

..especially when - after all is said and done..that 57T Drysdale which cost you $ 29, you barely sell it for $34 a month later !

This story sounds very familiar, except with me it was a '57 Koufax in about VG condition 15 or so years ago - that I bought for $50 and probably sold for $40.

[jchcollins]

Originally Posted by Ricky

I get too attached to my cards to do this, even though it's a smart way to operate. If I sold any of my vintage cards, as soon as I did, I know I'd want them back...

I often get this feeling too, but 95% of the time it's what I call "pre-" seller's regret. In that I think about and agonize over which cards I really want to sell before I actually do it, but then a large majority of the time after they are gone, I don't think twice about it and am able to move on. I have a few passive regrets on cards that got away years ago - I remember getting rid of them and occasionally wish I hadn't - but it's nothing that keeps me up at night.

[jchcollins]

Thanks all for the encouraging replies here. I think at a minimum I'm going to check out COMC more in-depth. I've always heard about them, but have never taken the time to really learn what it's all about. As for the rest, I feel like I have as good a shot as anyone to be at least marginally successful in flipping cards for profit if I really took that approach. I already fund "most of" my new purchases with card sales, but I could stand to get more efficient and proactive about it rather than always acting after the fact.

[doug.goodman]

I sell my services to others for money to fund my hobby.

[Directly]

Open your eyes, look around--many collectors aren't interested in just buying baseball cards.

Diversify--look around!

This week I bought a antique sign and some other artifacts for $305.00
Sold the lot for $1050---

Purchase a raw 1968 Ryan RC a 1958 Gibson RC and a 1972 Munson RC for $550 sent to PSA sold for 1550.00

One time I bought a piece of jade for 25.00-sold too cheap for 500.00

Bought a Civil War belt buckle for $100 sold too cheap for 800.00

--Buy-sell-trade--if you think someone might pay more-buy it--!

Yes, I flip. Couldn’t afford to collect the cards I have without doing so. Currently have about $12k invested in a modest collection worth between $75-$80k.

[pokerplyr80]

I've bought a few cards I felt were under valued and sold later for a profit. And have sold others to help fund new purchases. I've come out ahead more often than not. But I primarily just buy cards I enjoy owning and hold onto them for a while.

[tschock]

Originally Posted by doug.goodman

I sell my services to others for money to fund my hobby.

LOL
D0ug G00dM@n, Card Prostitute!
(said in the spirit and voice of Dan Aykroyd's character, Fred Garvin)

[AGuinness]

Originally Posted by jchcollins

Thanks all for the encouraging replies here. I think at a minimum I'm going to check out COMC more in-depth. I've always heard about them, but have never taken the time to really learn what it's all about. As for the rest, I feel like I have as good a shot as anyone to be at least marginally successful in flipping cards for profit if I really took that approach. I already fund "most of" my new purchases with card sales, but I could stand to get more efficient and proactive about it rather than always acting after the fact.

Quick add-on about COMC: they changed their fees structure as of Jan. 1 in part to try and make higher-priced cards move easier. In the past, COMC has definitely been a place where many people had museum prices for items, even low-grade/high demand cards with low eye appeal. It remains to be seen if the new fees structure will bring those prices down, but from my experience, COMC is somewhere to go for lower priced items for my PC.

Originally Posted by Directly

Open your eyes, look around--many collectors aren't interested in just buying baseball cards.

Diversify--look around!

This week I bought a antique sign and some other artifacts for $305.00
Sold the lot for $1050---

Purchase a raw 1968 Ryan RC a 1958 Gibson RC and a 1972 Munson RC for $550 sent to PSA sold for 1550.00

One time I bought a piece of jade for 25.00-sold too cheap for 500.00

Bought a Civil War belt buckle for $100 sold too cheap for 800.00

--Buy-sell-trade--if you think someone might pay more-buy it--!

That's impressive! I'd definitely love to do this, but I barely have the time to enjoy researching the cards/sets that I want and keep an eye out for the examples I can afford. Maybe when we become empty-nesters in 12 years I'll take up finding other stuff to flip!

Originally Posted by Gobucsmagic74

Yes, I flip. Couldn’t afford to collect the cards I have without doing so. Currently have about $12k invested in a modest collection worth between $75-$80k.

Well done! I think for me, at some point, I'd pull out the cash I initially put in and enjoy the hobby without any real skin in the game!

[doug.goodman]

Originally Posted by tschock

LOL
D0ug G00dM@n, Card Prostitute!
(said in the spirit and voice of Dan Aykroyd's character, Fred Garvin)

That's pretty funny.

[Bocabirdman]

Card Prostitute? I have been doing that for years. When I finish with my next client and the one after that I will have done two.

[Leon]

I lose on most card deals but make up for it in volume!!
And whomever only talks about winning purchases, they are either not telling the whole story or haven't done enough deals..

.

[familytoad]

I just trade pictures of dead presidents on paper for pictures of dead ballplayers on cardboard.

It’s rather simple.

Originally Posted by Leon

I lose on most card deals but make up for it in volume!!
And whomever only talks about winning purchases, they are either not telling the whole story or haven't done enough deals..

.

[seablaster]

Originally Posted by Leon

And whomever only talks about winning purchases, they are either not telling the whole story or haven't done enough deals..

Straight truth right there.

[ullmandds]

Originally Posted by Directly

Open your eyes, look around--many collectors aren't interested in just buying baseball cards.

Diversify--look around!

This week I bought a antique sign and some other artifacts for $305.00
Sold the lot for $1050---

Purchase a raw 1968 Ryan RC a 1958 Gibson RC and a 1972 Munson RC for $550 sent to PSA sold for 1550.00

One time I bought a piece of jade for 25.00-sold too cheap for 500.00

Bought a Civil War belt buckle for $100 sold too cheap for 800.00

--Buy-sell-trade--if you think someone might pay more-buy it--!

YUP! I do this!!!! I buy anything I see I know I can make money from...mostly NOT baseball cards...then I parlay that plus plus into my hobbies!

[frankbmd]

Originally Posted by familytoad

I just trade pictures of dead presidents on paper for pictures of dead ballplayers on cardboard.

It’s rather simple.

Partially correct Brian.

Ben is dead, but not a president, but an interesting fellow nonetheless less.

I’ll trade 4 pristine Abes for one of your Bens though.

LMK

[barrysloate]

Originally Posted by frankbmd

Partially correct Brian.

Ben is dead, but not a president, but an interesting fellow nonetheless less.

I’ll trade 4 pristine Abes for one of your Bens though.

LMK

Benjamin Franklin can go fly a kite for all I care.